Document and Entity Information
Document and Entity Information | 3 Months Ended |
Jun. 30, 2018shares | |
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 | 3,729,120,190 |
Document type | 6-K |
Document period end date | Jun. 30, 2018 |
Amendment flag | false |
Document fiscal year focus | 2,018 |
Document fiscal period focus | Q2 |
Consolidated Income Statement
Consolidated Income Statement - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | ||||||
Jun. 30, 2018 | Mar. 31, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | ||||
Income Statement [Line Items] | ||||||||
Interest income from financial instruments measured at amortized cost and fair value through other comprehensive income | SFr 2,469 | SFr 2,250 | SFr 2,532 | SFr 4,719 | SFr 4,928 | |||
Interest expense from financial instruments measured at amortized cost | (1,559) | (1,310) | (1,321) | (2,869) | (2,467) | |||
Interest income from financial instruments measured at fair value through profit or loss | 1,712 | 1,593 | 1,095 | 3,305 | 2,050 | |||
Interest expense from financial instruments measured at fair value through profit or loss | (1,637) | (790) | (890) | (2,426) | (1,399) | |||
Net interest income | 985 | 1,743 | 1,417 | 2,729 | 3,113 | |||
Other net income from fair value changes on financial instruments | 2,187 | 1,466 | 1,456 | 3,653 | 2,896 | |||
Credit loss (expense) / recovery | (28) | (25) | (46) | (53) | [1] | (46) | [1] | |
Fee and commission income | [2],[3] | 4,793 | 4,882 | 4,744 | 9,675 | 9,533 | ||
Fee and commission expense | [3] | (417) | (409) | (449) | (826) | (885) | ||
Net fee and commission income | [3] | 4,377 | 4,473 | 4,295 | 8,850 | 8,648 | ||
Other income | 34 | 40 | 147 | 74 | 190 | |||
Total operating income | 7,554 | 7,698 | 7,269 | 15,252 | [1] | 14,801 | [1] | |
Personnel expenses | 4,059 | 4,014 | 4,014 | 8,073 | [1] | 8,074 | [1] | |
General and administrative expenses | 1,516 | 1,424 | 1,488 | 2,940 | [1] | 2,994 | [1] | |
Depreciation and impairment of property, equipment and software | 284 | 272 | 249 | 556 | [1] | 505 | [1] | |
Amortization and impairment of intangible assets | 16 | 16 | 16 | 32 | [1] | 37 | [1] | |
Total operating expenses | 5,875 | 5,725 | 5,767 | 11,600 | [1] | 11,609 | [1] | |
Operating profit / (loss) before tax | 1,679 | 1,973 | 1,502 | 3,652 | [1] | 3,192 | [1] | |
Tax expense / (benefit) | 394 | 457 | 327 | 851 | [1] | 701 | [1] | |
Net profit / (loss) | 1,285 | 1,516 | 1,175 | 2,801 | [1],[4] | 2,490 | [1],[4] | |
Net profit / (loss) attributable to non-controlling interests | 1 | 1 | 1 | 3 | 47 | |||
Net profit / (loss) attributable to shareholders | SFr 1,284 | SFr 1,514 | SFr 1,174 | SFr 2,798 | SFr 2,443 | |||
Earnings per share (CHF) | ||||||||
Basic | SFr 0.34 | SFr 0.41 | SFr 0.32 | SFr 0.75 | SFr 0.66 | |||
Diluted | SFr 0.33 | SFr 0.39 | SFr 0.31 | SFr 0.73 | SFr 0.64 | |||
[1] | Prior period information may not be comparable as a result of the adoption of IFRS 9, Financial Instruments and IFRS 15, Revenue from Contracts with Customers, both effective 1 January 2018. Refer to Note 1 for more information on these changes. | |||||||
[2] | Reflects third-party fee and commission income for the second quarter of 2018 of CHF 2,832 million for Global Wealth Management (first quarter of 2018: CHF 2,891 million), CHF 301 million for Personal & Corporate Banking (first quarter of 2018: CHF 300 million), CHF 801 million for Asset Management (first quarter of 2018: CHF 777 million), CHF 857 million for the Investment Bank (first quarter of 2018: CHF 900 million) and CHF 3 million for Corporate Center (first quarter of 2018: CHF 14 million). | |||||||
[3] | Upon adoption of IFRS 15, certain brokerage fees paid in an agency capacity have been reclassified from Fee and commission expense to Fee and commission income on a prospective basis from 1 January 2018, primarily relating to third-party execution costs for exchange-traded derivative transactions and fees payable to third-party research providers on behalf of clients. In addition to the IFRS 15 changes, certain revenues, primarily distribution fees and fund management fees, have been reclassified between reporting lines to better reflect the nature of the revenues with prior period information restated accordingly. This resulted in the following impacts: for the quarter ended 30 June 2017, CHF 83 million was reclassified from Underwriting fees to Brokerage fees and CHF 255 million was reclassified from Portfolio management and related services to Investment fund fees. For the first six months of 2017, CHF 164 million was reclassified from total Underwriting fees to Brokerage fees and CHF 499 million was reclassified from Portfolio management and related services to Investment fund fees. Also, certain expenses that are incremental and incidental to revenues have been reclassified prospectively from General and administrative expenses to Fee and commission expense to improve the alignment of transaction-based costs with the associated revenue stream, primarily impacting clearing costs, client loyalty costs, fund and custody expenses. As the impact of this reclassification was not material, prior period information was not restated. | |||||||
[4] | Upon adoption of IFRS 9 on 1 January 2018, cash flows from certain financial instruments have been reclassified from investing to operating activities. Refer to Note 19 for more information. |
Consolidated Statement of Compr
Consolidated Statement of Comprehensive Income - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||||||
Jun. 30, 2018 | Mar. 31, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |||||
Statement Of Comprehensive Income [Line Items] | |||||||||
Net profit / (loss) | SFr 1,285 | SFr 1,516 | SFr 1,175 | SFr 2,801 | [1],[2] | SFr 2,490 | [1],[2] | ||
Total other comprehensive income | 1,057 | (819) | (1,072) | 238 | (1,721) | ||||
Total other comprehensive income that may be reclassified to the income statement, net of tax | (322) | (1,641) | |||||||
Total comprehensive income | 2,342 | 696 | 103 | 3,039 | 769 | ||||
Foreign currency translation | |||||||||
Subtotal foreign currency translation, net of tax | (2) | 14 | |||||||
Defined benefit plans | |||||||||
Subtotal defined benefit plans, net of tax | 144 | 160 | |||||||
Own credit on financial liabilities designated at fair value | |||||||||
Subtotal own credit on financial liabilities designated at fair value, net of tax | 417 | (254) | |||||||
OCI that may be reclassified to the income statement | |||||||||
Statement Of Comprehensive Income [Line Items] | |||||||||
Total other comprehensive income | 568 | (889) | (1,121) | (322) | (1,641) | ||||
OCI that will not be reclassified to the income statement | |||||||||
Statement Of Comprehensive Income [Line Items] | |||||||||
Total other comprehensive income | 490 | 70 | 49 | 560 | (80) | ||||
Comprehensive income attributable to shareholders | |||||||||
Statement Of Comprehensive Income [Line Items] | |||||||||
Net profit / (loss) | 1,284 | 1,514 | 1,174 | 2,798 | 2,443 | ||||
Total other comprehensive income | 1,060 | (820) | (1,086) | 240 | (1,735) | ||||
Total other comprehensive income that may be reclassified to the income statement, net of tax | 568 | (889) | (1,121) | (322) | (1,641) | ||||
Total other comprehensive income that will not be reclassified to the income statement, net of tax | 492 | 70 | 35 | 562 | (94) | ||||
Total comprehensive income | 2,343 | 695 | 89 | 3,038 | 708 | ||||
Foreign currency translation | |||||||||
Subtotal foreign currency translation, net of tax | 0 | 0 | |||||||
Defined benefit plans | |||||||||
Subtotal defined benefit plans, net of tax | 144 | 160 | |||||||
Own credit on financial liabilities designated at fair value | |||||||||
Subtotal own credit on financial liabilities designated at fair value, net of tax | 417 | (254) | |||||||
Comprehensive income attributable to shareholders | OCI that may be reclassified to the income statement | |||||||||
Foreign currency translation | |||||||||
Foreign currency translation movements, before tax | 785 | [3] | (482) | [3] | (1,252) | 303 | [3] | (1,566) | [3] |
Effective portion of changes in fair value of hedging instruments designated as net investment hedges, before tax | (53) | 97 | 258 | 44 | 201 | ||||
Foreign exchange amounts reclassified to the income statement from equity | 15 | 0 | 21 | 15 | 25 | ||||
Effective portion of changes in fair value of hedging instruments designated in net investment hedge reclassified to the income statement | 0 | 0 | 0 | 0 | 0 | ||||
Income tax relating to foreign currency translations | (1) | [4] | 1 | [4] | 1 | 0 | [4] | 3 | [4] |
Subtotal foreign currency translation, net of tax | 747 | (384) | (971) | 363 | (1,337) | ||||
Financial assets measured at fair value through other comprehensive income | |||||||||
Net unrealized gains / (losses), before tax | (24) | (71) | 10 | (95) | 53 | ||||
Impairment charges reclassified to the income statement from equity | 0 | 0 | (1) | 0 | 13 | ||||
Realized gains reclassified to the income statement from equity | 0 | 0 | (135) | 0 | (143) | ||||
Realized losses reclassified to the income statement from equity | 0 | 0 | 5 | 0 | 7 | ||||
Income tax relating to net unrealized gains / (losses) | 6 | 19 | 6 | 26 | (2) | ||||
Subtotal financial assets measured at fair value through other comprehensive income, net of tax | (18) | (51) | (115) | (69) | (72) | ||||
Cash flow hedges of interest rate risk | |||||||||
Effective portion of changes in fair value of derivative instruments designated as cash flow hedges, before tax | (127) | (441) | 165 | (569) | 136 | ||||
Net realized (gains) / losses reclassified to the income statement from equity | (70) | (127) | (211) | (197) | (431) | ||||
Income tax relating to cash flow hedges | 37 | 114 | 11 | 151 | 63 | ||||
Subtotal cash flow hedges, net of tax | (161) | (454) | (35) | (615) | (233) | ||||
Comprehensive income attributable to shareholders | OCI that will not be reclassified to the income statement | |||||||||
Defined benefit plans | |||||||||
Gains / (losses) on defined benefit plans, before tax | 240 | (144) | 107 | 96 | 156 | ||||
Income tax relating to defined benefit plans | 4 | 44 | 1 | 48 | 4 | ||||
Subtotal defined benefit plans, net of tax | 244 | (100) | 108 | 144 | 160 | ||||
Own credit on financial liabilities designated at fair value | |||||||||
Gains / (losses) from own credit on financial liabilities designated at fair value, before tax | 248 | 171 | (72) | 419 | (252) | ||||
Income tax relating to own credit on financial liabilities designated at fair value | 0 | (2) | (1) | (2) | (1) | ||||
Subtotal own credit on financial liabilities designated at fair value, net of tax | 248 | 170 | (73) | 417 | (254) | ||||
Comprehensive income attributable to non-controlling interests | |||||||||
Statement Of Comprehensive Income [Line Items] | |||||||||
Net profit / (loss) | 1 | 1 | 1 | 3 | 47 | ||||
Total other comprehensive income | (2) | 0 | 14 | (2) | 14 | ||||
Total other comprehensive income that will not be reclassified to the income statement, net of tax | (2) | 0 | 14 | (2) | 14 | ||||
Total comprehensive income | (1) | 1 | 14 | 1 | 61 | ||||
Foreign currency translation | |||||||||
Subtotal foreign currency translation, net of tax | (2) | 14 | |||||||
Comprehensive income attributable to non-controlling interests | OCI that will not be reclassified to the income statement | |||||||||
Foreign currency translation | |||||||||
Foreign currency translation movements, before tax | (2) | 0 | 14 | (2) | 14 | ||||
Income tax relating to foreign currency translations | 0 | 0 | 0 | 0 | 0 | ||||
Subtotal foreign currency translation, net of tax | SFr (2) | SFr 0 | SFr 14 | SFr (2) | SFr 14 | ||||
[1] | Prior period information may not be comparable as a result of the adoption of IFRS 9, Financial Instruments and IFRS 15, Revenue from Contracts with Customers, both effective 1 January 2018. Refer to Note 1 for more information on these changes. | ||||||||
[2] | Upon adoption of IFRS 9 on 1 January 2018, cash flows from certain financial instruments have been reclassified from investing to operating activities. Refer to Note 19 for more information. | ||||||||
[3] | (revaluation of net investment) | ||||||||
[4] | Including the impact of net investment hedges. |
Consolidated Balance Sheet
Consolidated Balance Sheet - CHF (SFr) SFr in Millions | Jun. 30, 2018 | Mar. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | Dec. 31, 2016 | |||
Assets | |||||||||
Cash and balances at central banks | SFr 102,262 | SFr 92,800 | SFr 87,775 | SFr 87,775 | |||||
Loans and advances to banks | 15,577 | 13,338 | 13,719 | 13,739 | |||||
Receivables from securities financing transactions | 76,450 | 77,016 | 84,674 | 89,633 | |||||
Cash collateral receivables on derivative instruments | 24,937 | 24,271 | 23,434 | 23,434 | |||||
Loans and advances to customers | 318,278 | 316,195 | 310,451 | 318,509 | |||||
Other financial assets measured at amortized cost | 20,996 | 19,129 | 18,302 | 36,861 | |||||
Total financial assets measured at amortized cost | 558,500 | 542,749 | 538,354 | 569,950 | |||||
Financial assets at fair value held for trading | 112,121 | 105,554 | 115,275 | 126,144 | |||||
of which: assets pledged as collateral that may be sold or repledged by counterparties | 36,580 | 34,536 | 35,363 | 35,363 | |||||
Derivative financial instruments | 121,604 | [1],[2] | 113,333 | [1],[2] | 118,227 | 118,227 | [1],[2] | ||
Brokerage receivables | 18,415 | 20,250 | 23,787 | ||||||
Financial assets at fair value not held for trading | 93,217 | 97,532 | 78,943 | 58,933 | |||||
Total financial assets measured at fair value through profit or loss | 345,357 | 336,669 | 336,232 | 303,304 | |||||
Financial assets measured at fair value through other comprehensive income | 6,941 | 6,758 | 6,755 | 8,665 | |||||
Investments in associates | 1,026 | 1,037 | 1,018 | 1,018 | |||||
Property, equipment and software | 9,083 | 8,860 | 8,829 | 8,829 | |||||
Goodwill and intangible assets | 6,391 | 6,235 | 6,398 | 6,398 | |||||
Deferred tax assets | 9,859 | 9,729 | 9,967 | 9,844 | |||||
Other non-financial assets | 7,324 | 7,324 | 7,633 | 7,633 | |||||
Total assets | 944,482 | [3] | 919,361 | 915,187 | 915,642 | [3] | |||
Liabilities | |||||||||
Amounts due to banks | 10,242 | 9,024 | 7,533 | 7,533 | |||||
Payables from securities financing transactions | 10,130 | 9,167 | 11,963 | 17,044 | |||||
Cash collateral payables on derivative instruments | 31,843 | 29,426 | 30,247 | 30,247 | |||||
Customer deposits | 403,430 | 398,604 | 403,731 | 408,999 | |||||
Debt issued measured at amortized cost | 137,530 | [4] | 137,883 | [4] | 139,551 | 139,551 | [4] | ||
Other financial liabilities measured at amortized cost | 6,909 | 5,911 | 6,686 | 36,337 | |||||
Total financial liabilities measured at amortized cost | 600,084 | 590,014 | 599,712 | 639,711 | |||||
Financial liabilities at fair value held for trading | 31,416 | 34,747 | 30,463 | 30,463 | |||||
Derivative financial instruments | 119,223 | [1],[2] | 111,945 | [1],[2] | 116,191 | 116,133 | [1],[2] | ||
Brokerage payables designated at fair value | 37,904 | 34,793 | 34,915 | ||||||
Debt issued designated at fair value | 56,849 | 52,059 | 49,502 | 49,502 | |||||
Other financial liabilities designated at fair value | 37,342 | 34,438 | 21,300 | 16,223 | |||||
Total financial liabilities measured at fair value through profit or loss | 282,734 | 267,983 | 252,370 | 212,322 | |||||
Provisions | 3,123 | 3,044 | 3,207 | 3,133 | |||||
Other non-financial liabilities | 7,708 | 7,016 | 9,205 | 9,205 | |||||
Total liabilities | 893,649 | 868,056 | 864,494 | 864,371 | |||||
Equity | |||||||||
Share capital | 385 | 385 | 385 | 385 | |||||
Share premium | 22,961 | 25,262 | 25,942 | 25,942 | |||||
Treasury shares | (2,032) | (1,520) | (2,133) | (2,133) | |||||
Retained earnings | 35,584 | 33,807 | 32,247 | 32,752 | |||||
Other comprehensive income recognized directly in equity, net of tax | (6,124) | (6,692) | (5,804) | (5,732) | |||||
Equity attributable to shareholders | 50,774 | 51,243 | 50,637 | 51,214 | |||||
Equity attributable to non-controlling interests | 60 | 62 | 57 | 57 | |||||
Total equity, before adoption of IFRS 9 and IFRS 15 | 51,271 | SFr 52,437 | SFr 54,302 | ||||||
Total equity | 50,834 | 51,305 | 50,670 | ||||||
Total liabilities and equity | SFr 944,482 | SFr 919,361 | SFr 915,187 | SFr 915,642 | |||||
[1] | Derivative financial liabilities as of 30 June 2018 include CHF 0.0 billion related to derivative loan commitments (31 March 2018: CHF 0.1 billion; 31 December 2017: CHF 0.0 billion). No notional amounts related to these commitments are included in this table but they are disclosed within Note 16 under Loan commitments with a committed amount of CHF 8.1 billion as of 30 June 2018 (31 March 2018: CHF 3.9 billion; 31 December 2017: CHF 5.3 billion). | ||||||||
[2] | Financial assets and liabilities are presented net on the balance sheet if UBS has the unconditional and legally enforceable right to offset the recognized amounts, both in the normal course of business and in the event of default, bankruptcy or insolvency of the entity and all of the counterparties, and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously. | ||||||||
[3] | Prior period information may not be comparable as a result of the adoption of IFRS 9, Financial Instruments and IFRS 15, Revenue from Contracts with Customers, both effective 1 January 2018. Refer to Note 1 for more information on these changes. | ||||||||
[4] | Net of bifurcated embedded derivatives, the fair value of which was not material for the periods presented. |
Consolidated Statement of Chang
Consolidated Statement of Changes in Equity - CHF (SFr) SFr in Millions | 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 measured at fair value through OCI | of which: cash flow hedges | Total equity attributable to shareholders | Non-controlling interests | |||
Balance before the adoption of IFRS 9 and IFRS 15 at Dec. 31, 2016 | SFr 54,302 | SFr 385 | SFr 28,254 | SFr (2,249) | SFr 31,725 | SFr (4,494) | [1] | SFr (5,564) | SFr 98 | SFr 972 | SFr 53,621 | SFr 682 | ||
Issuance of share capital | 0 | 0 | 0 | |||||||||||
Acquisition of treasury shares | (851) | (851) | (851) | |||||||||||
Delivery of treasury shares under share-based compensation plans | 76 | (808) | 883 | 76 | ||||||||||
Other disposal of treasury shares | 38 | 38 | 38 | |||||||||||
Premium on shares issued and warrants exercised | 8 | 8 | 8 | |||||||||||
Share-based compensation expensed in the income statement | 361 | 361 | 361 | |||||||||||
Tax (expense) / benefit | 14 | 14 | 14 | |||||||||||
Dividends | (2,280) | (2,229) | [2] | (2,229) | (50) | |||||||||
New consolidations / (deconsolidations) and other increases / (decreases) | 0 | (1) | (1) | 1 | ||||||||||
Total comprehensive income for the year | 769 | 2,349 | (1,641) | [1] | (1,337) | (72) | (233) | 708 | 61 | |||||
of which: Net profit / (loss) | 2,490 | [3],[4] | 2,443 | 2,443 | 47 | |||||||||
Total other comprehensive income that may be reclassified to the income statement, net of tax | (1,641) | (1,641) | [1] | (1,337) | (72) | (233) | (1,641) | |||||||
of which: OCI that will not be reclassified to the income statement, net of tax - defined benefit plans | 160 | 160 | 160 | |||||||||||
of which: OCI that will not be reclassified to the income statement, net of tax - own credit | (254) | (254) | (254) | |||||||||||
of which: OCI that will not be reclassified to the income statement, net of tax - foreign currency translation | 14 | 0 | 14 | |||||||||||
Balance before the adoption of IFRS 9 and IFRS 15 at Jun. 30, 2017 | 52,437 | 385 | 25,600 | (2,180) | 34,074 | (6,135) | [1] | (6,901) | 26 | 739 | 51,744 | 693 | ||
Balance before the adoption of IFRS 9 and IFRS 15 at Dec. 31, 2017 | 51,271 | 385 | 25,942 | (2,133) | 32,752 | (5,732) | [1] | (6,095) | 12 | 351 | 51,214 | 57 | ||
Effect of adoption of IFRS 9 | (577) | (505) | (72) | (72) | (577) | |||||||||
Effect of adoption of IFRS 15 | (24) | (24) | (24) | |||||||||||
Balance at Jan. 01, 2018 | 50,670 | 385 | 25,942 | (2,133) | 32,223 | (5,804) | [1] | (6,095) | (60) | 351 | 50,612 | 57 | ||
Balance before the adoption of IFRS 9 and IFRS 15 at Dec. 31, 2017 | 51,271 | 385 | 25,942 | (2,133) | 32,752 | (5,732) | [1] | (6,095) | 12 | 351 | 51,214 | 57 | ||
Total comprehensive income for the year | 696 | 695 | 1 | |||||||||||
of which: Net profit / (loss) | 1,516 | 1,514 | 1 | |||||||||||
Total other comprehensive income that may be reclassified to the income statement, net of tax | (889) | |||||||||||||
Balance at Mar. 31, 2018 | 51,305 | |||||||||||||
Balance before the adoption of IFRS 9 and IFRS 15 at Dec. 31, 2017 | 51,271 | 385 | 25,942 | (2,133) | 32,752 | (5,732) | [1] | (6,095) | 12 | 351 | 51,214 | 57 | ||
Issuance of share capital | 0 | 0 | 0 | |||||||||||
Acquisition of treasury shares | (925) | (925) | (925) | |||||||||||
Delivery of treasury shares under share-based compensation plans | 82 | (918) | 1,000 | 82 | ||||||||||
Other disposal of treasury shares | 26 | 26 | 26 | |||||||||||
Premium on shares issued and warrants exercised | 12 | 12 | 12 | |||||||||||
Share-based compensation expensed in the income statement | 364 | 364 | 364 | |||||||||||
Tax (expense) / benefit | 14 | 14 | 14 | |||||||||||
Dividends | (2,449) | (2,444) | [2] | (2,444) | (6) | |||||||||
New consolidations / (deconsolidations) and other increases / (decreases) | (1) | (9) | (9) | 8 | ||||||||||
Total comprehensive income for the year | 3,039 | 3,360 | (322) | [1] | 363 | (69) | (615) | 3,038 | 1 | |||||
of which: Net profit / (loss) | 2,801 | [3],[4] | 2,798 | 2,798 | 3 | |||||||||
Total other comprehensive income that may be reclassified to the income statement, net of tax | (322) | (322) | [1] | 363 | (69) | (615) | (322) | |||||||
of which: OCI that will not be reclassified to the income statement, net of tax - defined benefit plans | 144 | 144 | 144 | |||||||||||
of which: OCI that will not be reclassified to the income statement, net of tax - own credit | 417 | 417 | 417 | |||||||||||
of which: OCI that will not be reclassified to the income statement, net of tax - foreign currency translation | (2) | 0 | (2) | |||||||||||
Balance at Jun. 30, 2018 | 50,834 | 385 | 22,961 | (2,032) | 35,584 | (6,124) | [1] | (5,732) | (128) | (264) | 50,774 | 60 | ||
Balance at Mar. 31, 2018 | 51,305 | |||||||||||||
Total comprehensive income for the year | 2,342 | 2,343 | (1) | |||||||||||
of which: Net profit / (loss) | 1,285 | 1,284 | 1 | |||||||||||
Total other comprehensive income that may be reclassified to the income statement, net of tax | 568 | |||||||||||||
Balance at Jun. 30, 2018 | SFr 50,834 | SFr 385 | SFr 22,961 | SFr (2,032) | SFr 35,584 | SFr (6,124) | [1] | SFr (5,732) | SFr (128) | SFr (264) | SFr 50,774 | SFr 60 | ||
[1] | Excludes defined benefit plans and own credit that are recorded directly in Retained earnings. | |||||||||||||
[2] | Reflects the payment of an ordinary cash dividend of CHF 0.65 (2017: CHF 0.60) per dividend-bearing share out of the capital contribution reserve. | |||||||||||||
[3] | Prior period information may not be comparable as a result of the adoption of IFRS 9, Financial Instruments and IFRS 15, Revenue from Contracts with Customers, both effective 1 January 2018. Refer to Note 1 for more information on these changes. | |||||||||||||
[4] | Upon adoption of IFRS 9 on 1 January 2018, cash flows from certain financial instruments have been reclassified from investing to operating activities. Refer to Note 19 for more information. |
Consolidated Statement of Chan6
Consolidated Statement of Changes in Equity (Parenthetical) - SFr / shares | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Ordinary cash dividends paid, ordinary shares per share | SFr 0.65 | SFr 0.6 |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows - CHF (SFr) SFr in Millions | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | ||
Cash flow from / (used in) operating activities | |||
Net profit / (loss) | [1],[2] | SFr 2,801 | SFr 2,490 |
Non-cash items included in net profit and other adjustments: | |||
Depreciation and impairment of property, equipment and software | [2] | 556 | 505 |
Amortization and impairment of intangible assets | [2] | 32 | 37 |
Credit loss expense / (recovery) | [2] | 53 | 46 |
Share of net profits of associates / joint ventures and impairment of associates | [2] | (30) | (36) |
Deferred tax expense / (benefit) | [2] | 455 | 264 |
Net loss / (gain) from investing activities | [2] | (35) | 246 |
Net loss / (gain) from financing activities | [2] | 1,340 | (307) |
Other net adjustments | [2] | (1,568) | 689 |
Net change in operating assets and liabilities: | |||
Loans and advances to banks / amounts due to banks | [2] | 2,634 | 484 |
Securities financing transactions | [2] | 6,727 | (6,568) |
Cash collateral on derivative instruments | [2] | 225 | 15 |
Loans and advances to customers | [2] | (6,859) | (6,438) |
Customer deposits | [2] | (1,290) | (13,414) |
Financial assets and liabilities at FV held for trading and derivative financial instruments | [2] | 1,726 | (7,353) |
Brokerage receivables and payables | [2] | 8,439 | |
Financial assets at fair value not held for trading, other financial assets and liabilities | [2] | 2,291 | 7,878 |
Provisions, other non-financial assets and liabilities | [2] | (823) | (557) |
Income taxes paid, net of refunds | [2] | (348) | (689) |
Net cash flow from / (used in) operating activities | [2] | 16,327 | (22,708) |
Cash flow from / (used in) investing activities | |||
Purchase of subsidiaries, associates and intangible assets | [2] | (3) | (5) |
Disposal of subsidiaries, associates and intangible assets | [2],[3] | 58 | 95 |
Purchase of property, equipment and software | [2] | (819) | (720) |
Disposal of property, equipment and software | [2] | 30 | 23 |
Purchase of financial assets measured at fair value through other comprehensive income | [2] | (831) | (4,729) |
Disposal and redemption of financial assets measured at fair value through other comprehensive income | [2] | 668 | 6,150 |
Net (purchase) / redemption of debt securities measured at amortized cost | [2] | (2,391) | |
Net (purchase) / redemption of financial assets held to maturity | [2] | 168 | |
Net cash flow from / (used in) investing activities | [2] | (3,288) | 982 |
Cash flow from / (used in) financing activities | |||
Net short-term debt issued / (repaid) | [2] | (5,801) | 18,738 |
Net movements in treasury shares and own equity derivative activity | [2] | (833) | (751) |
Distributions paid on UBS shares | [2] | (2,444) | (2,229) |
Issuance of long-term debt, including financial liabilities designated at fair value | [2] | 38,980 | 24,829 |
Repayment of long-term debt, including financial liabilities designated at fair value | [2] | (26,066) | (23,407) |
Net changes in non-controlling interests and preferred notes | [2] | 16 | (50) |
Net cash flow from / (used in) financing activities | [2] | 3,853 | 17,130 |
Total cash flow | |||
Cash and cash equivalents at the beginning of the period | [2],[4] | 102,200 | 121,138 |
Net cash flow from / (used in) operating, investing and financing activities | [2] | 16,892 | (4,596) |
Effects of exchange rate differences on cash and cash equivalents | [2] | 135 | (1,502) |
Cash and cash equivalents at the end of the period | [2],[4] | 119,227 | 115,040 |
Net cash flow from / (used in) operating activities includes: | |||
Interest received in cash | [2] | 6,703 | 6,009 |
Interest paid in cash | [2] | 4,348 | 3,522 |
Dividends on equity investments, investment funds and associates received in cash | [2],[5] | SFr 1,190 | SFr 985 |
[1] | Prior period information may not be comparable as a result of the adoption of IFRS 9, Financial Instruments and IFRS 15, Revenue from Contracts with Customers, both effective 1 January 2018. Refer to Note 1 for more information on these changes. | ||
[2] | Upon adoption of IFRS 9 on 1 January 2018, cash flows from certain financial instruments have been reclassified from investing to operating activities. Refer to Note 19 for more information. | ||
[3] | Includes dividends received from associates. | ||
[4] | CHF 4,042 million and CHF 2,576 million of cash and cash equivalents (mainly reflected in Loans and advances to banks) were restricted as of 30 June 2018 and 30 June 2017, respectively. Refer to “Note 23 Restricted and transferred financial assets” in the “Consolidated financial statements” section in the Annual Report 2017 for more information. | ||
[5] | Includes dividends received from associates reported within Cash flow from / (used in) investing activities. |
Consolidated Statement ot Cash
Consolidated Statement ot Cash Flows (Parenthetical) - CHF (SFr) SFr in Millions | Jun. 30, 2018 | Jun. 30, 2017 | |
Statement Of Cash Flows [Line Items] | |||
Restricted cash and cash equivalents | SFr 4,042 | SFr 2,576 | |
Cash and balances with central banks classified as cash equivalents | [1] | 102,145 | 100,006 |
Due from banks classified as cash equivalents | [1] | 14,288 | 12,676 |
Money market paper classified as cash equivalents | [1],[2] | SFr 2,794 | SFr 2,358 |
[1] | Upon adoption of IFRS 9 on 1 January 2018, cash flows from certain financial instruments have been reclassified from investing to operating activities. Refer to Note 19 for more information. | ||
[2] | Money market paper is included in the balance sheet under Financial assets at fair value held for trading, Financial assets measured at fair value through other comprehensive income, Financial assets at fair value not held for trading, and Other financial assets measured at amortized cost. |
Significant accounting policies
Significant accounting policies | 3 Months Ended |
Jun. 30, 2018 | |
Disclosure Significant Accounting Policies [Line Items] | |
Disclosure Of Summary Of Significant Accounting Policies Explanatory | Note 1 Basis of accounting 1.1 Basis of preparation The consolidated financial statements (the Financial Statements) of UBS Group AG and its subsidiaries (together “UBS” or “the Group”) are 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), whi ch is also the functional currency of UBS Group AG and UBS AG ’ s Head Office and its Swiss-based operations. 1 These interim Financial Statements are prepared in accordance with IAS 34, Interim Financial Reporting . In preparing these interim Financial Statem ents, the same accounting policies and methods of computation have been applied as in the UBS Group AG consolidated annual Financial Statements for the period ended 31 December 201 7 , except for the changes described in this note, in Note 19 of this report and in “Note 1 Basis of accounting” in the “Consolidated financial statements” section of the first quarter 2018 report . These interim Financial Statements are unaudited and should be read in conjunction with UBS Group AG’s audited consolidated Financial S tatements included in the Annual Report 201 7 . In the opinion of management, all necessary adjustments were made for a fair presentation of the Group’s financial position, results of operations and cash flows. Preparation of these interim Financial Stateme nts requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, income, expenses and disclosures of contingent assets and liabilities. These estimates and assumptions are based on the best available inform ation. Actual results in the future could differ from such estimates and such differences may be material to the Financial Statements. Revisions to estimates, based on regular reviews, are recognized in the period in which they occur. For more information on areas of estimation uncertainty considered to require critical judgment, refer to “Note 1a ) Significant accounting policies” in the “Consolidated financial statements” s ection of the Annual Report 2017 and in Note 19.1 of this report . 1 As explained in UBS ’ s Annual Report 2017, in light of cumulative changes in UBS ’ s legal structure, business activities and evolving changes to its structural currency management strategy, it is anticipated that during the second half of 2018 the functional currency of UBS Group AG and UBS AG’s Head Office in Switzerlan d may change from Swiss francs to US dollars, and the functional currency of UBS AG ’ s London Branch operations may change from British pounds to US dollars, where such changes would be made on a prospective basis. If such changes occur, we expect that mana gement would change the presentation currency of UBS Group AG ’ s consolidated and UBS AG ’ s consolidated financial statements from Swiss francs to US dollars to align to the change in functional currency, with prior periods restated. 1.2 Adoption of I FRS 9 and IFRS 15 in the first quarter of 2018 IFRS 9, Financial instruments As disclosed in the UBS Group first quarter 2018 report, effective 1 January 2018, UBS adopted IFRS 9, Financial Instruments , which replaces IAS 39 , Financial Instruments: Recognition and Measurement and substantially changes accounting and financial reporting in three key areas: classification and measurement of financial assets, impairment and hedge accounting. In addition, UBS early adopted the Amendment to IFRS 9 , Prepay ment Features with Negative Compensation , issued in October 2017, which allows the Group to continue to apply amortized cost accounting to Swiss private mortgages and corporate loans that provide for two-way compensation if a prepayment occurs. The Group h as retained hedge accounting under IAS 39 as permitted and early adopted the own credit requirements of IFRS 9 during the first quarter of 2016. As permitted by the transitional provisions of IFRS 9, UBS elected not to restate comparative period informatio n. Any effect on the carrying amounts of financial assets and liabilities at the date of transition to IFRS 9 was recognized as an adjustment to opening retained earnings. The adoption of IFRS 9 effective 1 January 2018 resulted in a reduction to IFRS cons olidated equity as of 1 January 2018 of CHF 577 million. This effect is comprised of classification and measurement changes of CHF 351 million on a pre-tax basis and CHF 293 million net of tax, as well as effects from the implementation of impairment requi rements based on an ECL methodology of CHF 348 million on a pre-tax basis and CHF 284 million net of tax. UBS continues to test and refine the new accounting processes, internal controls and governance framework necessitated by the adoption of IFRS 9. Ther efore, the estimation of ECL and related effects remain subject to change until finalization of the financial statements for the year ending 31 December 2018. The updated accounting policies for classification and measurement of financial instruments and impairment of fin ancial assets as applied from 1 January 2018 are presented in Note 19.1 of this report and the detailed effects of the adoption of IFRS 9 on 1 January 2018 are presented in Note 19.2. Refer to the 31 March 2018 Pillar 3 report – UBS Group and significant r egulated subsidiaries and sub-groups under “Pillar 3 disclosures” at www.ubs.com/investors for more information on the effect of the IFRS 9 transition on UBS’s capital adequacy IFRS 15, Revenue from Contracts with Customers As disclosed in the UBS Group f irst quarter 2018 report, effective from 1 January 2018, UBS adopted IFRS 15, Revenue from Contracts with Customers , which replaces IAS 18, Revenue and establishes principles for revenue recognition that apply to all contracts with customers except those r elating to financial instruments, leases and insurance contracts and requires an entity to recognize revenue as performance obligations are satisfied. The adoption of IFRS 15 resulted in changes to UBS’s accounting policies applicable from 1 January 2018. Accounting policies set out in Note 1.3.2 in the “Consolidated financial statements” section of the first quarter 2018 report replace item 4 of Note 1a) in the UBS Group AG consolidated annual Financial Statements for the year ended 31 December 2017. The primary changes stem from IFRS 15 requirements that fee and commission income is measured based on consideration specified in a legally enforceable contract and variable consideration that is contingent on an uncertain event can only be recognized to the e xtent that it is highly probable that a significant reversal will not occur. UBS does not consider the highly probable criteria to be met where the contingency is beyond the control of UBS. As permitted by the transitional provisions of IFRS 15, UBS elect ed not to restate comparative figures. Instead, the cumulative effect of initially applying the standard was recognized as an adjustment to the opening balance of retained earnings. A transition adjustment of CHF 27 million on a pre-tax basis and CHF 24 mi llion net of tax was posted to retained earnings to reverse income recognized prior to 1 January 2018 under IAS 18 that must be deferred under IFRS 15 either due to the variable consideration constraint (asset management performance fees of CHF 16 million) or because UBS does not have an enforceable right to a specified amount of consideration (commission-sharing agreements for research services of CHF 11 million). IFRS 15 also resulted in changes to presentation. Fee and commission income and expenses are presented gross rather than net on the face of the income statement when UBS is considered principal to the contract with a customer. In turn, fees and expenses can only be presented net when UBS is considered to be an agent. Refer to Note 3 for more infor mation 1.3 New accounting standards and changes in accounting policies effective second quarter 2018 IFRS Interpretations Committee, Payments relating to taxes other than income tax During the second quarter of 2018, UBS refined its treatment of prepayment s or overpayments in relation to uncertain tax positions outside of the scope of IAS 12, Income Taxes , following the IFRS Interpretation Committee’s discussion on Payments relating to taxes other than income tax . More specifically, prepayments for uncertai n tax positions that have not yet given rise to a liability are recognized as assets because UBS will either receive a cash rebate or a benefit through the extinguishment of a future liability. Adoption of the change did not have a material effect on UBS’s financial statements. |
Segment reporting
Segment reporting | 3 Months Ended |
Jun. 30, 2018 | |
Disclosure Of Operating Segments [Line Items] | |
Disclosure Of Entitys Reportable Segments Explanatory | Note 2 Segment reporting UBS‘s businesses are organized globally into four business divisions: Global Wealth Management, Personal & Corporate Banking, Asset Management and the Investment Bank, all of which are supported by Corporate Center. The four business divisions qualify as reportable segments for the purpose of segment reporting and, together with Corporate Center and its units , reflect the management structure of the Group. Corporate Center – Non-core and Legacy Portfolio is managed and reported as a separate reportable segment within Corporate Center. Refer to “ Note 1a Significant accounting policies” item 2 and “Note 2 Segmen t r eporting ” in the “Consolidated financial statements” section of the Annual Report 201 7 for more information on the Group ’ s reporting segments . Effective 1 February 2018, UBS integrated its Wealth Management and Wealth Management Americas business divisi ons into a single Global Wealth Management business division. Refer to “Note 1.2 Changes to segment reporting effective first quarter 2018” in the “Consolidated financial statements” section of the first quarter 2018 report for more information. Global Wealth Management Personal & Corporate Banking Asset Management Investment Bank Corporate Center UBS CHF million Services Group ALM Non-core and Legacy Portfolio For the six months ended 30 June 2018 1 Net interest income 1,998 989 (16) 290 (179) (368) 13 2,729 Non-interest income 6,264 897 907 4,413 37 (121) 180 12,577 Allocations from CC Group ALM 88 29 7 (204) 25 100 (44) 0 Income 8,350 1,915 899 4,499 (116) (389) 148 15,305 Credit loss (expense) / recovery 2 (35) 0 (21) 0 0 (1) (53) Total operating income 8,352 1,880 899 4,478 (116) (389) 147 15,252 Personnel expenses 3,766 398 356 1,667 1,847 18 19 8,073 General and administrative expenses 589 115 97 287 1,766 20 66 2,940 Services (to) / from CC and other BDs 1,805 573 237 1,357 (4,065) 1 91 0 of which: services from CC Services 1,755 615 258 1,313 (4,101) 81 79 0 Depreciation and impairment of property, equipment and software 2 6 1 4 542 0 0 556 Amortization and impairment of intangible assets 25 0 1 5 1 0 0 32 Total operating expenses 6,187 1,093 692 3,320 92 39 177 11,600 Operating profit / (loss) before tax 2,165 787 207 1,158 (207) (428) (30) 3,652 Tax expense / (benefit) 851 Net profit / (loss) 2,801 As of 30 June 2018 Total assets 197,729 135,929 27,570 262,221 20,944 261,308 38,781 944,482 For the six months ended 30 June 2017 1 Net interest income 1,764 940 (15) 452 (153) 115 10 3,113 Non-interest income 5,986 870 935 3,859 55 (5) 34 11,734 Allocations from CC Group ALM 190 103 9 (174) 60 (139) (50) 0 Income 7,940 1,914 929 4,137 (37) (30) (6) 14,847 Credit loss (expense) / recovery (2) (21) 0 (12) 0 0 (11) (46) Total operating income 7,938 1,893 929 4,124 (37) (30) (16) 14,801 Personnel expenses 3,758 437 357 1,591 1,888 17 25 8,074 General and administrative expenses 578 134 109 256 1,920 7 (12) 2,994 Services (to) / from CC and other BDs 1,757 542 247 1,335 (3,984) (13) 116 0 of which: services from CC Services 1,703 587 266 1,287 (4,006) 65 97 0 Depreciation and impairment of property, equipment and software 2 6 1 5 491 0 0 505 Amortization and impairment of intangible assets 23 0 2 6 6 0 0 37 Total operating expenses 6,119 1,119 716 3,194 321 12 129 11,609 Operating profit / (loss) before tax 1,819 774 213 931 (358) (41) (146) 3,192 Tax expense / (benefit) 701 Net profit / (loss) 2,490 As of 31 December 2017 Total assets 190,074 135,556 14,269 262,931 20,875 245,737 46,200 915,642 1 Prior period information may not be comparable as a result of the adoption of IFRS 9 and IFRS 15, both effective 1 January 2018. Refer to Note 1 for more information on these changes. |
Net fee and commission income
Net fee and commission income | 3 Months Ended |
Jun. 30, 2018 | |
Net fee And Commission Income [Line Items] | |
Disclosure Of Fee And Commission Income Expense Explanatory | Note 3 Net fee and commission income 1 For the quarter ended Year-to-date CHF million 30.6.18 31.3.18 30.6.17 30.6.18 30.6.17 Underwriting fees 183 224 274 407 552 of which: equity underwriting fees 88 118 148 206 310 of which: debt underwriting fees 95 106 125 201 242 M&A and corporate finance fees 178 194 170 372 347 Brokerage fees 877 968 945 1,845 1,967 Investment fund fees 1,213 1,207 1,046 2,420 2,107 Portfolio management and related services 1,902 1,837 1,852 3,739 3,646 Other 440 452 457 893 915 Total fee and commission income 2 4,793 4,882 4,744 9,675 9,533 of which: recurring 3,161 3,071 6,232 of which: transaction-based 1,611 1,793 3,404 of which: performance-based 22 17 39 Brokerage fees paid 75 85 179 160 344 Other 342 324 270 666 541 Total fee and commission expense 417 409 449 826 885 Net fee and commission income 4,377 4,473 4,295 8,850 8,648 of which: net brokerage fees 802 884 766 1,685 1,623 1 Upon adoption of IFRS 15, certain brokerage fees paid in an agency capacity have been reclassified from Fee and commission expense to Fee and commission income on a prospective basis from 1 January 2018, primarily relating to third-party execution costs for exchange-traded derivative transactions and fees payable to third-party research providers on behalf of clients. In addition to the IFRS 15 changes, certain revenues, primarily distribution fees and fund management fees, have been reclassified between reporting lines to better reflect the nature of the revenues, with prior period information restated accordingly. This resulted in the following impacts: for the quarter ended 30 June 2017, CHF 83 million was reclassified from Underwriting fees to Brokerage fees and CHF 255 million was reclassified from Portfolio management and related services to Investment fund fees. For the first six months of 2017, CHF 164 million was reclassified from total Underwriting fees to Brokerage fees and CHF 499 million was reclassified from Portfolio management and related services to Investment fund fees. Also, certain expenses that are incremental and incidental to revenues have been reclassified prospectively from General and administrative expenses to Fee and commission expense to improve the alignment of transaction-based costs with the associated revenue stream, primarily impacting clearing costs, client loyalty costs, fund and custody expenses. As the impact of this reclassification was not material, prior period information was not restated. 2 Reflects third-party fee and commission income for the second quarter of 2018 of CHF 2,832 million for Global Wealth Management (first quarter of 2018: CHF 2,891 million), CHF 301 million for Personal & Corporate Banking (first quarter of 2018: CHF 300 million), CHF 801 million for Asset Management (first quarter of 2018: CHF 777 million), CHF 857 million for the Investment Bank (first quarter of 2018: CHF 900 million) and CHF 3 million for Corporate Center (first quarter of 2018: CHF 14 million). |
Other income
Other income | 3 Months Ended |
Jun. 30, 2018 | |
Other Income [Line Items] | |
Disclosure Of Other Operating Income Explanatory | Note 4 Other income For the quarter ended Year-to-date CHF million 30.6.18 31.3.18 30.6.17 30.6.18 30.6.17 Associates, joint ventures and subsidiaries Net gains / (losses) from disposals of subsidiaries 1 (10) 0 (18) (10) (22) Share of net profits of associates and joint ventures 15 15 17 30 36 Total 5 15 (2) 20 14 Financial assets measured at fair value through other comprehensive income Net gains / (losses) from disposals 0 0 129 0 136 Impairments 0 0 1 0 (13) Total 0 0 131 0 123 Net gains / (losses) from disposals of financial assets measured at amortized cost (1) 0 (2) 0 16 Net income from properties (excluding net gains / (losses) from disposals) 2 6 6 6 12 12 Net gains / (losses) from disposals of properties held for sale 0 0 0 0 (1) Other 23 19 14 42 26 Total other income 34 40 147 74 190 1 Includes foreign exchange gains / (losses) reclassified from other comprehensive income related to disposed foreign subsidiaries and branches. 2 Includes net rent received from third parties and net operating expenses. |
Personnel expenses
Personnel expenses | 3 Months Ended |
Jun. 30, 2018 | |
Personnel Expenses [Line Items] | |
Disclosure Of Employee Benefits Explanatory | Note 5 Personnel expenses For the quarter ended Year-to-date CHF million 30.6.18 31.3.18 30.6.17 30.6.18 30.6.17 Salaries and variable compensation 2,430 2,585 2,428 5,014 4,871 Financial advisor variable compensation 1 996 974 992 1,970 1,979 Contractors 127 116 107 243 200 Social security 195 229 187 423 389 Pension and other post-employment benefit plans 169 (30) 2 169 138 2 369 Other personnel expenses 142 141 130 284 266 Total personnel expenses 4,059 4,014 4,014 8,073 8,074 1 Financial advisor variable compensation consists of grid-based compensation based directly on compensable revenues generated by financial advisors and supplemental compensation calculated on the basis of 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. 2 Changes to the Pension Fund of UBS in Switzerland in the first quarter of 2018 resulted in a reduction in the pension obligation recognized by UBS. As a consequence, a pre-tax gain of CHF 225 million was recognized in the income statement in the first quarter of 2018, with no overall effect on total equity. Refer to “Note 5 Personnel expenses” in the “Consolidated financial statements” section of the first quarter 2018 report for more information. |
General and administrative expe
General and administrative expenses | 3 Months Ended |
Jun. 30, 2018 | |
General And Administrative Expenses [Line Items] | |
Disclosure Of General And Administrative Expense Explanatory | Note 6 General and administrative expenses For the quarter ended Year-to-date CHF million 30.6.18 31.3.18 30.6.17 30.6.18 30.6.17 Occupancy 221 219 217 441 438 Rent and maintenance of IT and other equipment 148 150 135 299 279 Communication and market data services 154 152 148 306 304 Administration 71 135 102 207 201 of which: UK bank levy 1 (45) 0 (46) (45) (71) Marketing and public relations 84 80 93 164 186 Travel and entertainment 112 93 110 204 197 Professional fees 237 231 276 468 532 Outsourcing of IT and other services 347 340 362 687 745 Litigation, regulatory and similar matters 2 131 (11) 9 120 42 Other 10 34 35 44 69 Total general and administrative expenses 1,516 1,424 1,488 2,940 2,994 1 The credits presented for the periods shown are related to prior years. 2 Reflects the net increase / (decrease) in provisions for litigation, regulatory and similar matters recognized in the income statement. Refer to Note 15 for more information. Also includes recoveries from third parties (second quarter of 2018: CHF 10 million; first quarter of 2018: CHF 17 million; second quarter of 2017: CHF 1 million). |
Income taxes
Income taxes | 3 Months Ended |
Jun. 30, 2018 | |
Income Taxes [Line Items] | |
Disclosure Of Income Tax Explanatory | Note 7 Income taxes The Group recognized an income tax expense of CHF 394 million for the second quarter of 2018 compared with an income tax expense of CHF 327 million for the second quarter of 2017. Deferred tax expenses were CHF 198 million in the second quarter of 2018 compared with CHF 133 million in the second quarter of 2017 and mainly related to the amortization of deferred tax assets previously recognized in relation to tax losses carried forward and deductible temporary differences to reflect their offset against profits for the quarter. The current tax expense was CHF 196 million compared with CHF 194 million in the second quarter of 2017 and related to taxable profits of UBS Switzerland AG and other legal entities in the UBS Group. |
Earnings per share and shares o
Earnings per share and shares outstanding | 3 Months Ended |
Jun. 30, 2018 | |
Earnings Per Share And Shares Outstanding [Line Items] | |
Disclosure of earnings per share and shares outstanding [text block] | Note 8 Earnings per share (EPS) and shares outstanding As of or for the quarter ended As of or year-to-date 30.6.18 31.3.18 30.6.17 30.6.18 30.6.17 Basic earnings (CHF million) Net profit / (loss) attributable to shareholders 1,284 1,514 1,174 2,798 2,443 Diluted earnings (CHF million) Net profit / (loss) attributable to shareholders 1,284 1,514 1,174 2,798 2,443 Less: (profit) / loss on own equity derivative contracts (1) (1) 0 (2) 0 Net profit / (loss) attributable to shareholders for diluted EPS 1,283 1,513 1,174 2,796 2,443 Weighted average shares outstanding Weighted average shares outstanding for basic EPS 1 3,750,246,679 3,728,701,542 3,715,138,875 3,739,474,111 3,714,042,783 Effect of dilutive potential shares resulting from notional shares, in-the-money options and warrants outstanding 99,757,026 128,521,488 110,988,858 114,179,416 117,296,611 Weighted average shares outstanding for diluted EPS 3,850,003,705 3,857,223,030 3,826,127,733 3,853,653,527 3,831,339,394 Earnings per share (CHF) Basic 0.34 0.41 0.32 0.75 0.66 Diluted 0.33 0.39 0.31 0.73 0.64 Shares outstanding Shares issued 3,854,589,552 3,854,297,125 3,851,805,058 Treasury shares 125,469,362 93,077,090 135,182,950 Shares outstanding 3,729,120,190 3,761,220,035 3,716,622,108 1 The weighted average shares outstanding for basic EPS are calculated by taking the number of shares at the beginning of the period, adjusted by the number of shares acquired or issued during the period, multiplied by a time-weighted factor for the period outstanding. As a result, balances are affected by the timing of acquisitions and issuances during the period. Number of shares 30.6.18 31.3.18 30.6.17 30.6.18 30.6.17 Potentially dilutive instruments Employee share-based compensation awards 6,592,571 7,283,110 30,018,635 6,592,571 30,018,635 Other equity derivative contracts 11,499,172 7,757,622 12,185,977 10,774,521 11,904,237 Total 18,091,743 15,040,732 42,204,612 17,367,092 41,922,872 |
Expected credit loss measuremen
Expected credit loss measurement | 3 Months Ended |
Jun. 30, 2018 | |
Disclosure Of Provision Matrix [Line Items] | |
Disclosure Of Provision Matrix Explanatory | Note 9 Expected credit loss measurement a) E xpected credit losses in the period Total net credit loss expenses amounted to CHF 28 million in the second quarter of 2018, reflecting expected credit losses (ECL) of CHF 2 1 million related to stage 1 and 2 positions and net losses of CHF 7 million related to credit impaired (stage 3) positions. Stage 1 and 2 ECL have been reco gnized in th e period, primarily arising from credit quality changes in Personal & Corporate Banking and, to a lesser extent, from new loans, facilities and other exposure movements across the Investment Bank, Personal & Corporate Banking and Global Wealth Management. Stage 3 net losses of CHF 7 million were recognized across a number of defaulted positions, predominantly in Personal & Corporate B anking. There have not been any material changes to the models used to calculate ECL and to determine stage allocation. As outlined in Note 19, UBS uses four different economic scenarios in the ECL calculation: an upside, a baseline, a mild downside and a severe downside scenario. The scenarios and scenario weights applied to calculate ECL as of 30 June 2018 were reviewed and remain unchanged from those applied as of 31 March 2018 and as of 1 January 2018, the date of transition to IFRS 9. Economic scenarios and weights applied ECL scenario Assigned weights in % (30.6.18 ) Upside 20.0 Baseline 42.5 Mild downside 30.0 Severe downside 7.5 Further, assumptions around the most important forward-looking economic factors for Switzerland, the US and other regions as applied in each of those economic scenarios to determine ECL at the reporting date have not changed from the date of transition to IFRS 9. The point-in-time probability of default values applied to the ECL calculation at the reporting date reflect, however, market data updates, such as house price and equity indices and foreign exchange rates. Details on assumptions applied around the most important forward-looking economic factors are discussed in Note 19. b) ECL - relevant balance sheet and off - balance sheet positions including ECL allowance s and provisions The table s on the following pages p rovide information on financial instruments and certain non-financial instruments that are s ubject to ECL. For amortized cost instruments, the net carrying value represents the maximum exposure to credit risk, taking into account the allowance for credit losses. F inancial assets measured at fair value through other comprehensive income (FVOCI) are also subject to ECL ; however, unlike amortized cost instruments, the allowance does not reduce the carry ing value of the se financial asset s . The carrying value of financial assets measured at FVOCI represents the maximum exposure to credit risk. Tables provided for 30 June 2018 and 31 March 2018 include additional det ail on certain segments that have not been provided for balances as of 1 January 2018. In a ddition to on-balance sheet financial assets, certain off-balance sheet and other credit lines are also subject to ECL. The maximum exposure to credit risk for off-balance sheet financial instruments is calculated based on notional amounts . UBS has established ECL disclosure segments or “ECL segments” to disaggregate portfolios based on shared risk characteristic s and on the same or similar rating methods applied. The key segments are presented in the table below. Segment Segment description Description of credit risk sensitivity Business division / Corpora te Center Private clients with mortgages Lending to private clients secured by owner-occupied real estate and personal account overdrafts of those clients S ensitive to the interest rate environment, employment status and influence from regional effects (e.g., property values) Personal & Corporate Banking Global Wealth Management Real estate financing Rental or income-producing real estate financing to corporate clients secured by real estate S ensitive to GDP development, the interest rate environment and regional effects (e.g., property values) Personal & Corporate Banking Global Wealth Management Large corporate clients Lending to large corporate and multinational clients Sensitive to GDP development, seasonality and business cycles and collateral values (diverse collateral including real estate and other collateral types) Personal & Corporate Banking Investment Bank SME clients Lending to small- and medium-sized corporate clients S ensitive to GDP development, the interest rate environment and , to some extent, seasonality and business cycles and collateral values (diverse collateral including real estate and other collateral types) Personal & Corporate Banking Financial intermediaries and hedge funds Financial institutions and pension funds, including exposures to broker-dealers and clearing houses Sensitive to GDP development, the interest rate environment, regulatory changes and political risk Personal & Corporate Banking Investment Bank Corporate Center Lombard Loans secured by pledges of marketable securities, guarantees and other forms of collateral S ensitive to the market (e.g., changes in collateral, as well as in invested assets) Personal & Corporate Banking Global Wealth Management Credit cards Credit card solutions in Switzerland and the US Sensitive to the interest rate environment and employment status Personal & Corporate Banking Global Wealth Management Commodity trade finance Working capital financing of commodity traders, generally extended on a self-liquidating transactional basis Sensitive primarily to the strength of individual transaction structures and collateral values (price volatility of commodities) as the primary source for debt service is directly linked to the shipments financed Personal & Corporate Banking Leasing (finance lease receivables) Financing of private aircraft Financing of investment goods Sensitive to changes in collateral values Sensitive to GDP development, the interest rate environment, seasonality and business cycles and collateral values Personal & Corporate Banking CHF million 30.6.18 Carrying amount ECL allowance Financial instruments measured at amortized cost Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Cash and balances at central banks 102,262 102,262 0 0 0 0 0 0 Loans and advances to banks 15,577 15,569 8 0 (4) (2) 0 (2) Receivables from securities financing transactions 76,450 76,450 0 0 (2) (2) 0 0 Cash collateral receivables on derivative instruments 24,937 24,937 0 0 0 0 0 0 Loans and advances to customers 318,278 293,041 23,612 1,625 (847) (53) (174) (620) of which: Private clients with mortgage 121,858 108,533 12,498 826 (122) (9) (79) (34) of which: Real estate financing 35,659 26,826 8,795 39 (60) (3) (49) (8) of which: Large corporate clients 10,486 9,841 555 91 (82) (5) (9) (68) of which: SME clients 9,920 8,055 1,284 581 (292) (8) (25) (258) of which: Lombard 116,795 116,779 0 16 (90) (4) 0 (86) of which: Credit cards 1,406 1,123 268 14 (37) (6) (11) (20) of which: Commodity trade finance 3,075 3,049 13 13 (88) (4) 0 (84) Other financial assets measured at amortized cost 20,996 20,188 292 516 (168) (39) (6) (123) of which: Loans to financial advisors 3,394 3,139 85 171 (124) (32) (2) (90) Total financial assets measured at amortized cost 1 558,500 532,447 23,912 2,141 (1,022) (97) (179) (746) Financial assets measured at fair value through other comprehensive income 6,941 6,941 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 565,441 539,388 23,912 2,141 (1,022) (97) (179) (746) Total exposure ECL provision Off-balance sheet (in scope of ECL) Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Guarantees 18,529 17,826 506 197 (34) (7) (1) (26) of which: Large corporate clients 3,818 3,462 218 138 (7) (1) 0 (5) of which: SME clients 1,262 996 221 45 (16) 0 (1) (15) of which: Financial intermediaries and hedge funds 7,473 7,464 9 0 (4) (4) 0 0 of which: Lombard 2,493 2,493 0 0 0 0 0 0 of which: Commodity trade finance 2,398 2,342 43 13 (4) (1) 0 (3) Irrevocable loan commitments 31,009 30,407 563 38 (42) (34) (8) 0 of which: Large corporate clients 21,914 21,342 550 22 (34) (27) (7) 0 Forward starting reverse repurchase and securities borrowing agreements 1,545 1,545 0 0 0 0 0 0 Committed unconditionally revocable credit lines 34,129 33,011 1,053 65 (33) (21) (13) 0 of which: Real estate financing 2,676 2,404 272 0 (16) (8) (8) 0 of which: Large corporate clients 4,065 4,000 65 0 (1) (1) 0 0 of which: SME clients 4,407 3,961 390 57 (8) (5) (2) 0 of which: Lombard 6,231 6,231 0 0 0 0 0 0 of which: Credit cards 6,980 6,712 267 0 (5) (3) (1) 0 of which: Commodity trade finance 2,707 2,703 0 5 (1) (1) 0 0 Irrevocable committed prolongation of existing loans 2,760 2,741 19 0 (1) (1) 0 0 Total off-balance sheet financial instruments and other credit lines 87,972 85,531 2,142 300 (111) (62) (23) (26) Total allowances and provisions (1,133) (159) (202) (772) 1 The carrying value of financial assets at amortized cost is net of the respective ECL allowances. CHF million 31.3.18 Carrying amount ECL allowance Financial instruments measured at amortized cost Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Cash and balances at central banks 92,800 92,800 0 0 0 0 0 0 Loans and advances to banks 13,338 13,300 38 0 (5) (3) 0 (2) Receivables from securities financing transactions 77,016 77,016 0 0 (2) (2) 0 0 Cash collateral receivables on derivative instruments 24,271 24,271 0 0 0 0 0 0 Loans and advances to customers 316,195 287,107 27,543 1,545 (838) (54) (162) (622) of which: Private clients with mortgage 120,535 104,614 15,149 772 (127) (11) (71) (44) of which: Real estate financing 36,003 26,415 9,553 36 (62) (3) (51) (8) of which: Large corporate clients 11,610 10,828 684 97 (62) (7) (2) (54) of which: SME clients 10,072 7,893 1,629 550 (281) (9) (24) (248) of which: Lombard 114,436 114,423 0 13 (86) (4) 0 (82) of which: Credit cards 1,334 1,069 252 14 (34) (5) (9) (19) of which: Commodity trade finance 3,008 2,942 61 5 (92) (4) (4) (85) Other financial assets measured at amortized cost 19,129 18,371 271 488 (146) (35) (5) (106) of which: Loans to financial advisors 3,326 3,104 74 149 (115) (28) (2) (85) Total financial assets measured at amortized cost 1 542,749 512,865 27,851 2,033 (992) (94) (168) (730) Financial assets measured at fair value through other comprehensive income 6,758 6,758 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 549,507 519,623 27,851 2,033 (992) (94) (168) (730) Total exposure ECL provision Off-balance sheet (in scope of ECL) Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Guarantees 17,404 16,624 577 203 (40) (7) (2) (31) of which: Large corporate clients 3,775 3,380 249 146 (10) (1) 0 (9) of which: SME clients 1,313 1,029 235 50 (16) 0 (1) (15) of which: Financial intermediaries and hedge funds 5,740 5,694 47 0 (3) (3) 0 0 of which: Lombard 2,537 2,537 0 0 0 0 0 0 of which: Commodity trade finance 1,783 1,752 24 7 (4) (1) 0 (3) Irrevocable loan commitments 29,746 29,181 547 18 (32) (24) (7) (1) of which: Large corporate clients 22,234 21,693 535 7 (26) (20) (5) (1) Forward starting reverse repurchase and securities borrowing agreements 1,231 1,231 0 0 0 0 0 0 Committed unconditionally revocable credit lines 35,892 33,937 1,879 75 (34) (17) (17) 0 of which: Real estate financing 2,942 2,134 808 0 (12) (2) (9) 0 of which: Large corporate clients 4,804 4,700 99 5 0 0 0 0 of which: SME clients 4,617 4,065 496 56 (7) (4) (3) 0 of which: Lombard 5,960 5,960 0 0 0 0 0 0 of which: Credit cards 6,879 6,609 269 0 (5) (4) (1) 0 of which: Commodity trade finance 3,413 3,307 92 14 (2) (1) (1) 0 Irrevocable committed prolongation of existing loans 1,912 1,912 0 0 (1) (1) 0 0 Total off-balance sheet financial instruments and other credit lines 86,184 82,885 3,003 296 (106) (49) (26) (32) Total allowances and provisions (1,098) (143) (194) (762) 1 The carrying value of financial assets at amortized cost is net of the respective ECL allowances. CHF million 1.1.18 Carrying amount ECL allowance Financial instruments measured at amortized cost Total Stage 1 Stage 2 Stage 3 2 Total Stage 1 Stage 2 Stage 3 Cash and balances at central banks 87,775 87,775 0 0 0 0 0 0 Loans and advances to banks 13,719 13,701 18 0 (5) (2) 0 (3) Receivables from securities financing transactions 84,674 84,674 0 0 (2) (2) 0 0 Cash collateral receivables on derivative instruments 23,434 23,434 0 0 0 0 0 0 Loans and advances to customers 310,451 281,149 27,812 1,491 (867) (61) (163) (644) of which: Private clients with mortgage 119,560 103,867 15,006 686 (124) (12) (69) (44) of which: Real estate financing 35,896 26,210 9,657 29 (62) (3) (53) (6) of which: Large corporate clients 11,004 10,358 557 88 (69) (6) 0 (63) of which: SME clients 10,322 8,218 1,518 585 (287) (8) (23) (256) of which: Lombard 111,748 111,731 0 17 (84) (5) 0 (79) Other financial assets measured at amortized cost 18,302 17,805 32 465 (136) (29) (1) (106) of which: Loans to financial advisors 3,086 2,874 32 179 (115) (28) (1) (87) Total financial assets measured at amortized cost 1 538,354 508,538 27,862 1,956 (1,011) (95) (164) (752) Financial assets measured at fair value through other comprehensive income 6,755 6,755 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 545,110 515,293 27,862 1,956 (1,011) (95) (164) (752) Total exposure ECL provision Off-balance sheet (in scope of ECL) Total Stage 1 Stage 2 Stage 3 2 Total Stage 1 Stage 2 Stage 3 Guarantees 17,152 16,331 633 189 (37) (6) (2) (29) Irrevocable loan commitments 30,852 30,153 662 37 (36) (24) (8) (4) of which: Large corporate clients 21,999 21,344 629 26 (27) (19) (4) (4) Forward starting reverse repurchase and securities borrowing agreements 1,216 1,216 0 0 0 0 0 0 Committed unconditionally revocable credit lines 36,690 34,471 2,157 62 (34) (19) (15) 0 of which: Real estate financing 3,103 2,097 1,007 0 (9) (2) (7) 0 of which: SME clients 4,770 4,311 406 53 (7) (5) (2) 0 Irrevocable committed prolongation of existing loans 1,635 1,634 0 1 0 0 0 0 Total off-balance sheet financial instruments and other credit lines 87,545 83,805 3,452 288 (107) (49) (24) (33) Total allowances and provisions (1,117) (144) (188) (785) 1 The carrying value of financial assets at amortized cost is net of the respective ECL allowances. 2 Upon adoption of IFRS 9 as of 1 January 2018, an instrument is classified as credit-impaired if the counterparty is defaulted, and / or the instrument is purchased or originated credit-impaired and includes credit impaired exposures for which no loss has occurred, or for which no allowance has been recognized (e.g., because they are expected to be fully recoverable through the collateral held). Refer to Note 19 for more information on the adoption of IFRS 9. |
Fair value measurement
Fair value measurement | 3 Months Ended |
Jun. 30, 2018 | |
Disclosure Of Fair Value Measurement [Line Items] | |
Disclosure Of Fair Value Measurement Explanatory | Note 10 Fair value measurement This Note provides fair value measurement information for both financial and non-financial instruments and should be read in conjunction with “Note 22 Fair value measurement” in the “Consolidated financial statements” section of the Annual Report 2017, which provides more information on valuation principles, valuation governance, fair value hierarchy class ification, valuation adjustments, valuation techniques and inputs, sensitivity of fair value measurements and methods applied to calculate fair values for financial instruments not measured at fair value. Adoption of IFRS 9 Upon adoption of IFRS 9 on 1 Jan uary 2018, certain classification and measurement changes were made, primarily resulting in a reclassification of certain financial assets and liabilities from amortized cost to fair value through profit or loss. This included: b rokerage receivables and pa yables held in the Investment Bank and Global Wealth Management; a uction rate securities held in Corporate Center; and c ertain loans held in the Investment Bank. Certain financial assets and liabilities that have been newly classified at fair value throug h profit or loss upon adoption of IFRS 9 on 1 January 2018 are designated as Level 3 in the fair value hierarchy. Refer to the tables and text within this Note for more information. An immaterial amount of financial assets were reclassified from Financial assets at fair value held for trading and Financial assets at fair value not held for trading to Loans and advances to customers upon adoption of IFRS 9. An immaterial amount of associated loan commitments, which were recognized as derivative liabilities a s of 31 December 2017 , were also derecognized from the balance sheet . No material fair value gains and losses would have been recognized in the income stateme nt in the second quarter of 2018 had th e se instruments not been reclassified. Similarly, no materi al fair value gains or losses would have been recognized in Other comprehensive income related to debt instruments that were reclassified from Financial assets available for sale to Other financial assets measured at amortized cost upon adoption of IFRS 9. Refer to Note 19 for more information on the adoption of IFRS 9 a) Fair value hierarchy The fair value hierarchy classification of financial and non-financial assets and liabilities measured at fair value is summarized in the table below. Determination of fair values from quoted market prices or valuation techniques 1 30.6.18 31.3.18 31.12.17 CHF million Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Financial assets measured at fair value on a recurring basis Financial assets at fair value held for trading 96,129 12,729 3,263 112,121 89,273 14,344 1,937 105,554 108,962 15,211 1,972 126,144 of which: Government bills / bonds 10,650 877 0 11,527 13,769 1,115 0 14,885 11,935 918 0 12,854 Corporate and municipal bonds 550 7,463 627 8,640 342 8,157 233 8,731 37 7,974 552 8,563 Loans 0 2,096 1,733 3,829 0 3,005 606 3,611 0 3,346 501 3,847 Investment fund units 8,716 1,974 540 11,230 6,951 1,560 704 9,215 7,223 1,839 571 9,632 Asset-backed securities 0 110 157 266 0 169 157 326 0 194 174 368 Equity instruments 76,214 210 188 76,612 68,211 338 237 68,787 79,274 186 105 79,565 Financial assets for unit-linked investment contracts 2 10,492 755 69 11,316 Derivative financial instruments 878 119,245 1,481 121,604 853 111,135 1,344 113,333 458 116,221 1,549 118,227 of which: Interest rate contracts 0 38,555 226 38,782 8 41,153 35 41,196 1 43,913 135 44,049 Credit derivative contracts 0 1,674 452 2,127 0 1,894 458 2,352 0 2,266 550 2,816 Foreign exchange contracts 563 52,941 186 53,690 385 42,025 239 42,649 207 46,748 189 47,143 Equity / index contracts 7 24,320 612 24,939 21 24,374 608 25,002 16 21,541 675 22,232 Commodity contracts 0 1,564 0 1,564 0 1,379 0 1,379 0 1,727 0 1,727 Brokerage receivables 3 0 18,415 0 18,415 0 20,250 0 20,250 Financial assets at fair value not held for trading 42,929 45,518 4,769 93,217 44,989 47,876 4,667 97,532 23,032 34,481 1,419 58,933 of which: Government bills / bonds 21,853 3,452 0 25,305 24,255 3,646 0 27,901 22,062 3,900 0 25,961 Corporate and municipal bonds 958 21,849 0 22,807 760 23,265 0 24,025 765 20,702 0 21,467 Financial assets for unit-linked investment contracts 2 19,824 4,735 8 24,568 19,655 4,528 0 24,183 Loans (including structured loans) 0 7,394 1,904 9,298 0 8,353 1,924 10,277 0 9,385 758 10,143 Structured securities financing transactions 4 0 7,556 65 7,622 0 7,621 140 7,760 0 118 173 291 Auction-rate securities 3 0 0 1,832 1,832 0 0 1,713 1,713 Investment fund units 194 458 118 770 167 415 107 689 205 377 0 582 Equity instruments 5 101 16 484 602 151 47 369 567 Other 0 57 357 414 0 1 413 415 0 0 489 489 Financial assets measured at fair value through other comprehensive income on a recurring basis Financial assets measured at fair value through other comprehensive income 2,608 4,333 0 6,941 2,560 4,197 0 6,758 3,000 5,157 507 8,665 of which: Government bills / bonds 2,563 111 0 2,675 2,515 118 0 2,634 2,733 133 0 2,866 Corporate and municipal bonds 44 390 0 434 45 428 0 473 121 1,060 9 1,189 Asset-backed securities 0 3,832 0 3,832 0 3,651 0 3,651 0 3,880 0 3,880 Other 5 0 0 0 0 0 0 0 0 146 85 499 730 Non-financial assets measured at fair value on a recurring basis Other non-financial assets Precious metals and other physical commodities 3,975 0 0 3,975 4,032 0 0 4,032 4,563 0 0 4,563 Non-financial assets measured at fair value on a non-recurring basis Other non-financial assets 6 0 57 9 65 0 58 9 67 0 54 42 95 Total assets measured at fair value 146,519 200,297 9,522 356,338 141,707 197,861 7,957 347,525 140,015 171,125 5,489 316,629 Determination of fair values from quoted market prices or valuation techniques (continued) 1 30.6.18 31.3.18 31.12.17 CHF million Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Financial liabilities measured at fair value on a recurring basis Financial liabilities at fair value held for trading 26,211 5,117 88 31,416 29,657 4,999 91 34,747 26,037 4,309 117 30,463 of which: Government bills / bonds 4,386 299 0 4,685 7,574 398 0 7,972 5,153 256 0 5,409 Corporate and municipal bonds 138 4,113 34 4,285 11 4,133 31 4,176 50 3,453 35 3,538 Investment fund units 785 214 2 1,002 291 67 4 362 541 263 16 820 Equity instruments 20,901 488 52 21,440 21,781 392 56 22,229 20,293 336 66 20,695 Derivative financial instruments 875 115,954 2,394 119,223 837 108,437 2,671 111,945 398 112,928 2,807 116,133 of which: Interest rate contracts 6 33,738 285 34,030 12 36,125 212 36,349 5 38,196 186 38,387 Credit derivative contracts 0 2,620 613 3,233 0 2,777 629 3,407 0 3,196 601 3,797 Foreign exchange contracts 585 52,921 115 53,620 343 41,891 118 42,353 213 45,150 122 45,485 Equity / index contracts 2 25,122 1,369 26,493 6 26,131 1,708 27,845 42 24,803 1,896 26,741 Commodity contracts 0 1,365 1 1,366 0 1,227 1 1,227 0 1,561 1 1,562 Financial liabilities designated at fair value on a recurring basis Brokerage payables designated at fair value 3 0 37,904 0 37,904 0 34,793 0 34,793 Debt issued designated at fair value 0 46,683 10,166 56,849 0 40,213 11,846 52,059 0 38,617 10,885 49,502 Other financial liabilities designated at fair value 2 36,252 1,089 37,342 2 33,061 1,375 34,438 0 14,282 1,941 16,223 of which: Amounts due under unit-linked investment contracts 0 24,913 0 24,913 0 24,348 0 24,348 0 11,523 0 11,523 Structured securities financing transactions 4 0 6,533 0 6,533 0 5,812 1 5,812 0 372 4 376 Over-the-counter debt instruments 2 4,801 1,085 5,888 2 2,898 1,371 4,270 0 2,385 1,930 4,315 Non-financial liabilities measured at fair value on a non-recurring basis Other non-financial liabilities 0 0 0 0 0 0 0 0 0 1 0 1 Total liabilities measured at fair value 27,087 241,910 13,737 282,734 30,495 221,504 15,984 267,983 26,435 170,138 15,750 212,323 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 for unit-linked investment contracts were reclassified from Financial assets at fair value held for trading to Financial assets at fair value not held for trading as of 1 January 2018. Refer to Note 19 for more information. 3 Comparative period information is not disclosed for financial assets and liabilities that were measured at amortized cost prior to the adoption of IFRS 9 on 1 January 2018. Refer to Note 19 for more information. 4 The increases in Structured securities financing transactions from 31 December 2017 to 31 March 2018 primarily relate to the reclassification of certain balances from amortized cost to fair value through profit or loss upon adoption of IFRS 9 on 1 January 2018. Refer to Note 19 for more information. 5 Upon adoption of IFRS 9 on 1 January 2018, equity instruments that were formerly classified as available for sale under IAS 39 were reclassified to Financial assets at fair value not held for trading. Refer to Note 19 for more information. 6 Other non-financial assets primarily consist of properties and other non-current assets held for sale, which are measured at the lower of their net carrying amount or fair value less costs to sell. 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. For 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 pos ition’s fair value measurement: Level 1 – quoted prices (unadjusted) in active markets 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. Product description, valuation and classification in the fair value hierarchy for products newly classified at fair value upon adoption of IFRS 9 on 1 January 2018 Product description, valuation and fair value hierarchy information is provided on the next page for significant products classified at fair value that are not described in “Note 22 Fair value measurement” in the “Consolidated financial statements” sectio n of the Annual Report 2017. Auction rate securities There are two types of auction rate securities (ARS): auction preferred securities (APS) and auction rate certificates (ARC ). ARC are issued by municipalities and are used by investors as tax-exempt alternatives to money market instruments. Interest rates for these instruments are reset through a periodic Dutch auction. APS are similar to ARC with the primary difference being that they are issued from closed-end funds. ARS are valued directly using market prices that reflect recent transactions after applying an adjustment for trade size or quoted dealer prices where available. Suitably deep a nd liquid pricing information is generally not available for ARS securities. As a result, these securities are classified as Level 3. Brokerage receivables and payables Brokerage receivables and payables include callable, on- demand balances, including lon g cash credits, short cash debits, margin debit balances and short sale proceeds. The business model for these accounts is similar to any current or on - demand account, with account holders using the account to house subscriptions, redemptions and billed am ounts. F air value is determined based on value of the underlying balances . D ue to the on-demand nature of its underlying, these receivables and payables are designated as Level 2. b) Valuation adjustments Own credit Own credit is estimated using an own credit adjustment (OCA) curve, which incorporates observable market data, including market-observed secondary prices for UBS senior debt, UBS credit default swap spreads and senior debt curves of peers. In June 2018, UBS AG issued a 30-year senior unsecured bond as part of its ongoing funding requirements. The market-observable secondary prices for this bond have been incorporated into the OCA curve construction, resulting in a widening of the curve at the long-end . An own credit gain of CHF 248 million has been recognized in Other comprehensive income in the second quarter of 2018, mainly reflecting aforementioned changes to the OCA curve. Day-1 reserves The table below summa rizes the changes in deferred day-1 profit or loss reserves during the respective period. Deferred day-1 profit or loss is generally released into Other net income from fair value changes on financial instruments when pricing of equivalent products or the underlying parameters become observable or when the transaction is closed out. In the second quarter of 2018, a day-1 reserve release of CHF 192 million was rec ognized in the income statement related to long-dated UBS-issued structured notes, which are re ported within Debt issued designated at fair value on the balance sheet. The day-1 reserve release was driven by increased observability of the OCA curve used to value these positions following the 30-year bond issuance described in the previous section . Deferred day-1 profit or loss For the quarter ended Year-to-date CHF million 30.6.18 31.3.18 30.6.17 30.6.18 30.6.17 Balance at the beginning of the period 457 329 365 329 371 Profit / (loss) deferred on new transactions 53 187 65 240 116 (Profit) / loss recognized in the income statement (248) (53) (66) (301) (119) Foreign currency translation 13 (6) (15) 7 (18) Balance at the end of the period 274 457 349 274 349 c) Transfers between Level 1 and Level 2 The amounts disclosed below reflect transfers between Level 1 and Level 2 for instruments that were held for the entire reporting period. Assets totaling approximately CHF 0.6 billion, which were mainly comprised of financial ass ets at fair value held for trading, primarily equity instruments and investment fund units, were transferred from Level 2 to Level 1 during the first six months of 2018 , generally due to increased levels of trading activity observed within the market. Liab ilities transferred from Level 2 to Level 1 during the first six months of 2018 were not material. Assets and liabilities transferred from Level 1 to Level 2 during the first six months of 2018 were also not material. d) Level 3 instruments: valuation techniques and inputs The table below presents material Level 3 assets and liabilities together with the valuation techniques used to measure fair value, the significant inputs used in the valuation technique that are considered unobservable and a range of values for those unobservable inputs. The range of values represents the highest- and lowest-level input used in t he valuation techniques. Therefore, the range does not reflect the level of uncertainty regarding a particular input, but rather the different underlying characteristics of the relevant assets and liabilities. The ranges will therefore vary from period to period and parameter to parameter based on characteristics of the instruments held at each balance sheet date. Further, the ranges and weighted averages of unobservable inputs may differ across other financial institutions due to the diversity of the produ cts in each firm’s inventory. The significant unobservable inputs disclosed in the table below are generally consistent with those included in “Note 22 Fair value measurement” in the “Consolidated financial statements” section of the Annual Report 2017. A description of 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, is also provided in “N ote 22 Fair value measurement” in the “Consolidated financial statements” section of the Annual Report 2017. 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) 30.6.18 31.12.17 CHF billion 30.6.18 31.12.17 30.6.18 31.12.17 low high weighted average 2 low high weighted average 2 unit 1 Financial assets and liabilities at fair value held for trading, Financial assets at fair value not held for trading 3 Corporate and municipal bonds 0.6 0.6 0.0 0.0 Relative value to market comparable Bond price equivalent 0 134 95 0 133 92 points Traded loans, loans mandatorily at fair value, loan commitments and guarantees 3.9 1.7 0.0 0.0 Relative value to market comparable Loan price equivalent 0 101 97 50 102 98 points Discounted expected cash flows Credit spread 111 153 23 124 basis points Market comparable and securitization model Discount margin 0 14 2 0 14 2 % Auction-rate securities 4 1.8 0.0 Relative value to market comparable Price 77 99 points Investment fund units 5 0.7 0.7 0.0 0.0 Relative value to market comparable Net asset value Equity instruments 5 0.7 0.5 0.1 0.1 Relative value to market comparable Price Debt issued designated at fair value 6 10.2 10.9 Other financial liabilities designated at fair value 6 1.1 1.9 Derivative financial instruments Interest rate contracts 0.2 0.1 0.3 0.2 Option model Volatility of interest rates 7 42 76 28 70 basis points Credit derivative contracts 0.5 0.5 0.6 0.6 Discounted expected cash flows Credit spreads 4 394 6 550 basis points Bond price equivalent 1 99 2 102 points Equity / index contracts 0.6 0.7 1.4 1.9 Option model Equity dividend yields 0 11 0 13 % Volatility of equity stocks, equity and other indices 0 75 0 172 % Equity-to-FX correlation (45) 71 (39) 70 % Equity-to-equity correlation (50) 97 (50) 97 % 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 Comparative period information includes equity instruments that were formerly classified as available for sale under IAS 39 and have been reclassified to Financial assets at fair value not held for trading upon adoption of IFRS 9 on 1 January 2018. Refer to Note 19 for more information. 4 Comparative period information is not disclosed for financial assets and liabilities that were measured at amortized cost prior to the adoption of IFRS 9. Refer to Note 19 for more information. 5 The range of inputs is not disclosed due to the dispersion of values given the diverse nature of the investments. 6 Valuation techniques, significant unobservable inputs and the respective input ranges for Debt issued designated at fair value and Other financial liabilities designated at fair value, which are primarily comprised of over-the-counter debt instruments, are the same as the equivalent derivative or structured financing instruments presented elsewhere in this table. 7 Effective 31 March 2018, the range of inputs reported for this significant unobservable input is based on normal volatility and the unit has been updated to basis points. Log-normal volatility with the unit as points was reported previously. Prior-period information has been restated to reflect this change in presentation. e) Level 3 instruments: sensitivity to changes in unobservable input assumptions The table below summarizes those financial assets and liabilities classified as Level 3 for which a change in one or more of the unobservable inputs to reflect reasonably possible alternative assumptions would change fair value s ignificantly, and the estimated effect thereof. The table shown presents the favorable and unfavorable effects for each class of financial assets and liabilities for which the potential change in fair value is considered significant. The sensitivity of fair value measurements for debt issued designated at fair value and over-the-counter debt instruments designated at fair value is reported with the equivalent derivative or structured financing instrument within the table below . The sensitivity data pre sented represent an estimation of valuation uncertainty based on reasonably possible alternative values for Level 3 inputs at the balance sheet date and do not represent the estimated effect of stress scenarios. Typically, these financial assets and liabil ities are sensitive to a combination of inputs from Levels 1–3. Although well-defined interdependencies may exist between Levels 1–2 and Level 3 parameters (e.g., between interest rates, which are generally Level 1 or Level 2, and prepayments, which are ge nerally Level 3), these have not been incorporated in the table. Further, direct interrelationships between the Level 3 parameters are not a significant element of the valuation uncertainty. Sensitivity of fair value measurements to changes in unobservable input assumptions 30.6.18 31.3.18 31.12.17 CHF million Favorable changes Unfavorable changes Favorable changes Unfavorable changes Favorable changes Unfavorable changes Traded loans, loans measured at fair value, loan commitments and guarantees 89 (15) 83 (18) 79 (11) Structured securities financing transactions 20 (15) 65 (65) 34 (34) Auction-rate securities 1 92 (92) 87 (87) Asset-backed securities 31 (26) 31 (26) 19 (15) Equity instruments 182 (115) 134 (106) 79 (53) Interest rate derivative contracts, net 12 (37) 12 (28) 13 (26) Credit derivative contracts, net 40 (35) 33 (36) 64 (99) Foreign exchange derivative contracts, net 6 (3) 8 (5) 12 (6) Equity / index derivative contracts, net 212 (228) 189 (205) 190 (193) Other 21 (21) 14 (14) 13 (13) Total 704 (586) 656 (591) 502 (450) 1 Comparative period information as of 31 December 2017 is not disclosed for financial assets that were measured at amortized cost prior to the adoption of IFRS 9 on 1 January 2018. Refer to Note 19 for more information. f) Level 3 instruments: movements during the period Significant changes in Level 3 instruments The table on the following pages presents additional information about Level 3 assets and liabilities measured at fair value on a recurring basis. Level 3 assets and liabilities may be hedged with instruments classified as Level 1 or Level 2 in the fair value hiera rchy and, as a result, realized and unrealized gains and losses included in the table may not include the effect of related hedging activity. Furthermore, the realized and unrealized gains and losses presented within the table are not limited solely to tho se arising from Level 3 inputs, as valuations are generally derived from both observable and unobservable parameters. Upon adoption of IFRS 9 on 1 January 2018, certain financial assets and liabilities were newly classified at fair value through profit or loss and were designated as Level 3 in the fair value hierarchy. These financial instruments are presented in the table on the following pages, including the associated effect upon adoption. This includes auction rate securities held in Corporate Center an d certain loans held in the Investment Bank. In addition to various financial assets and liabilities being newly classified at fair value through profit or loss, certain equity investments and investment fund units measured at fair value through other comp rehensive income were reclassified to Financial assets at fair value not held for trading under the revised IFRS 9 measurement rules, which resulted in an opening balance reclassification between reporting lines in the table on the following pages 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 2016 Net gains / (losses) included in income 1 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 30 June 2017 Balance as of 31 December 2017 Reclassifi- cations and remeasure- ments upon adoption of IFRS 9 Balance as of 1 January 2018 Net gains / (losses) included in income 1 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 30 June 2018 2 Financial assets at fair value held for trading 1.7 0.0 0.0 0.7 (2.3) 1.6 0.0 0.2 (0.2) 0.0 1.6 2.0 0.4 2.4 (0.3) (0.2) 1.0 (4.8) 4.2 0.0 0.8 (0.1) 0.0 3.3 of which: Corporate and municipal bonds 0.6 0.0 0.0 0.3 (0.1) 0.0 0.0 0.1 0.0 0.0 0.8 0.6 0.6 (0.1) (0.1) 0.4 (0.8) 0.0 0.0 0.6 0.0 0.0 0.6 Loans 0.7 0.1 0.0 0.3 (2.1) 1.6 0.0 0.0 (0.1) 0.0 0.5 0.5 0.4 0.9 0.0 0.0 0.3 (3.6) 4.2 0.0 0.0 0.0 0.0 1.7 Investment fund units 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.6 0.6 (0.1) (0.1) 0.1 (0.1) 0.0 0.0 0.1 0.0 0.0 0.5 Other 0.4 0.0 0.0 0.0 (0.1) 0.0 0.0 0.0 0.0 0.0 0.3 0.3 0.3 (0.1) (0.1) 0.3 (0.3) 0.0 0.0 0.1 0.0 0.0 0.3 Financial assets at fair value not held for trading 2.1 0.0 0.0 0.0 0.0 0.3 (0.7) 0.0 (0.1) 0.0 1.6 1.4 2.9 4.3 0.1 0.0 1.0 (0.9) 0.0 0.0 0.1 (0.1) 0.1 4.8 of which: Loans (including structured loans) 1.2 0.1 0.1 0.0 0.0 0.0 (0.7) 0.0 (0.1) 0.0 0.5 0.8 0.6 1.3 (0.1) (0.1) 1.0 (0.3) 0.0 0.0 0.1 0.0 0.0 1.9 Auction-rate securities 3 1.8 1.8 0.1 0.1 0.0 (0.2) 0.0 0.0 0.0 0.0 0.1 1.8 Equity instruments 0.4 0.4 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.5 Other 0.9 0.0 0.0 0.0 0.0 0.3 (0.1) 0.0 0.0 0.0 1.1 0.7 0.1 0.8 0.1 0.0 0.0 (0.3) 0.0 0.0 0.0 (0.1) 0.0 0.5 Financial assets measured at fair value through other comprehensive income 0.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.5 0.5 (0.5) Derivative financial instruments – assets 2.5 (0.2) (0.3) 0.0 0.0 0.4 (0.5) 0.1 (0.5) 0.0 1.9 1.5 1.5 0.0 0.1 0.0 0.0 0.4 (0.6) 0.1 0.0 0.0 1.5 of which: Credit derivative contracts 1.3 (0.2) (0.2) 0.0 0.0 0.0 (0.1) 0.0 (0.3) 0.0 0.8 0.5 0.5 (0.1) 0.0 0.0 0.0 0.0 (0.1) 0.0 0.0 0.0 0.5 Equity / index contracts 0.7 0.0 0.0 0.0 0.0 0.4 (0.2) 0.1 (0.1) 0.0 0.8 0.7 0.7 0.0 0.0 0.0 0.0 0.4 (0.5) 0.1 (0.1) 0.0 0.6 Other 0.5 0.0 (0.1) 0.0 0.0 0.0 (0.2) 0.0 (0.1) 0.0 0.3 0.3 0.3 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 Derivative financial instruments – liabilities 4.0 (0.1) (0.2) 0.0 0.0 0.5 (1.0) 0.1 (0.7) 0.0 2.8 2.8 0.0 2.8 (0.3) (0.3) 0.0 0.0 0.7 (0.8) 0.4 (0.5) 0.0 2.4 of which: Credit derivative contracts 1.5 (0.1) (0.1) 0.0 0.0 0.0 (0.2) 0.0 (0.3) 0.0 1.0 0.6 0.6 0.0 0.0 0.0 0.0 0.1 0.0 0.1 (0.1) 0.0 0.6 Equity / index contracts 1.9 0.0 0.0 0.0 0.0 0.5 (0.5) 0.1 (0.4) 0.0 1.4 1.9 1.9 (0.3) (0.2) 0.0 0.0 0.6 (0.7) 0.2 (0.4) 0.0 1.4 Other 0.6 0.0 0.0 0.0 0.0 0.0 (0.2) 0.0 (0.1) 0.0 0.5 0.3 0.0 0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.0 0.4 Debt issued designated at fair value 9.7 1.0 0.8 0.0 0.0 2.5 (2.0) 0.2 (0.9) (0.3) 10.2 10.9 10.9 0.6 0.5 0.0 0.0 3.2 (2.4) 1.3 (3.6) 0.1 10.2 Other financial liabilities designated at fair value 1.3 0.0 0.0 0.0 0.0 1.3 (0.5) 0.0 (0.2) 0.0 1.9 1.9 1.9 (0.6) (0.6) 0.0 0.0 0.4 (0.7) 0.0 0.0 0.0 1.1 1 Net gains / (losses) included in comprehensive income are comprised of Net interest income, Other net income from fair value changes on financial instruments and Other income. 2 Total Level 3 assets as of 30 June 2018 were CHF 9.5 billion (31 March 2018: CHF 8.0 billion, 31 December 2017: CHF 5.5 billion). Total Level 3 liabilities as of 30 June 2018 were CHF 13.7 billion (31 March 2018: CHF 16.0 billion, 31 December 2017: CHF 15.7 billion). 3 Comparative period information is not disclosed for items that were measured at amortized cost prior to the adoption of IFRS 9 on 1 January 2018. Refer to Note 19 for more information. Assets and liabilities transferred into or out of Level 3 are presented as if those assets or liabilities h ad been transferred at the beginning of the year. Assets transferred into and out of Level 3 totaled CHF 1.0 billion and CHF 0.2 billion, respectively. Transfers into Level 3 were primarily comprised of corporate and municipal bonds reflecting decreased o bservability of the respective bond price equivalent inputs . Transfers out of Level 3 were primarily comprised of equity / index contracts due to increased observability of the respective equity volatility inputs. Liabilities transferred into and out of Le vel 3 totaled CHF 1.7 billion and CHF 4.1 billion, respectively. Transfers into Level 3 were primarily comprised of g) Financial instruments not measured at fair value The table below reflects the estimated fair values of financial instruments not measured at fair value. Financial instruments not measured at fair value 30.6.18 31.3.18 31.12.17 CHF billion Carrying value Fair value Carrying value Fair value Carrying value Fair value Assets Cash and balances at central banks 102.3 102.3 92.8 92.8 87.8 87.8 Loans and advances to banks 15.6 15.6 13.3 13.3 13.7 13.7 Receivables from securities financing transactions 76.4 76.4 77.0 77.0 89.6 89.6 Cash collateral receivables on derivative instruments 24.9 24.9 24.3 24.3 23.4 23.4 Loans and advances to customers 318.3 318.8 316.2 317.0 318.5 319.9 Other financial assets measured at amortized cost 21.0 20.7 19.1 18.9 36.9 36.7 Liabilities Amounts due to banks 10.2 10.2 9.0 9.0 7.5 7.5 Payables from securities financing transactions 10.1 10.1 9.2 9.2 17.0 17.0 Cash collateral payables on derivative instruments 31.8 31.8 29.4 29.4 30.2 30.2 Customer deposits 403.4 403.4 398.6 398.6 409.0 409.0 Debt issued measured at amortized cost 137.5 140.1 137.9 140.9 139.6 143.5 Other financial liabilities measured at amortized cost 6.9 6.9 5.9 5.9 36.3 36.3 The fair values included in the table above were calculated for di sclosure purposes only. The fair value valuation techniques and assumptions relate only to the fair value of UBS’s financial instruments not measured at fair value. Other institutions may use different methods and assumptions for their fair value estimatio n, and therefore such fair value disclosures cannot necessarily be compared from one financial institution to another. |
Derivative instruments
Derivative instruments | 3 Months Ended |
Jun. 30, 2018 | |
Derivative [Line Items] | |
Disclosure Of Derivative Financial Instruments Explanatory | Note 11 Derivative instruments a) Derivative instruments As of 30.6.18, CHF billion Derivative financial assets Notional values related to derivative financial assets 3 Derivative financial liabilities Notional values related to derivative financial liabilities 3 Other notional values 4 Derivative financial instruments 1,2 Interest rate contracts 38.8 1,169 34.0 1,093 11,322 Credit derivative contracts 2.1 81 3.2 83 0 Foreign exchange contracts 53.7 2,736 53.6 2,588 1 Equity / index contracts 24.9 446 26.5 530 101 Commodity contracts 1.6 44 1.4 39 11 Unsettled purchases of non-derivative financial instruments 5 0.2 26 0.2 18 Unsettled sales of non-derivative financial instruments 5 0.3 31 0.3 20 Total derivative financial instruments, based on IFRS netting 6 121.6 4,533 119.2 4,371 11,435 Further netting potential not recognized on the balance sheet 7 (106.6) (103.1) of which: netting of recognized financial liabilities / assets (87.4) (87.4) of which: netting with collateral received / pledged (19.2) (15.7) Total derivative financial instruments, after consideration of further netting potential 15.1 16.2 As of 31.3.18, CHF billion Derivative financial instruments 1,2 Interest rate contracts 41.2 1,231 36.3 1,103 11,173 Credit derivative contracts 2.4 88 3.4 93 0 Foreign exchange contracts 42.6 2,547 42.4 2,445 0 Equity / index contracts 25.0 412 27.8 474 91 Commodity contracts 1.4 39 1.2 39 9 Unsettled purchases of non-derivative financial instruments 5 0.4 36 0.3 15 Unsettled sales of non-derivative financial instruments 5 0.3 28 0.5 28 Total derivative financial instruments, based on IFRS netting 6 113.3 4,382 111.9 4,197 11,273 Further netting potential not recognized on the balance sheet 7 (99.3) (96.8) of which: netting of recognized financial liabilities / assets (80.7) (80.7) of which: netting with collateral received / pledged (18.6) (16.1) Total derivative financial instruments, after consideration of further netting potential 14.1 15.2 As of 31.12.17, CHF billion Derivative financial instruments 1 Interest rate contracts 44.0 1,142 38.4 1,044 10,462 Credit derivative contracts 2.8 92 3.8 98 1 Foreign exchange contracts 47.1 2,389 45.5 2,193 0 Equity / index contracts 22.2 380 26.7 487 83 Commodity contracts 1.7 33 1.6 37 8 Unsettled purchases of non-derivative financial instruments 5 0.1 12 0.1 11 Unsettled sales of non-derivative financial instruments 5 0.1 15 0.1 9 Total derivative financial instruments, based on IFRS netting 6 118.2 4,063 116.1 3,878 10,555 Further netting potential not recognized on the balance sheet 7 (104.2) (98.5) of which: netting of recognized financial liabilities / assets (83.5) (83.5) of which: netting with collateral received / pledged (20.7) (15.0) Total derivative financial instruments, after consideration of further netting potential 14.0 17.7 1 Derivative financial liabilities as of 30 June 2018 include CHF 0.0 billion related to derivative loan commitments (31 March 2018: CHF 0.1 billion; 31 December 2017: CHF 0.0 billion). No notional amounts related to these commitments are included in this table but they are disclosed within Note 16 under Loan commitments with a committed amount of CHF 8.1 billion as of 30 June 2018 (31 March 2018: CHF 3.9 billion; 31 December 2017: CHF 5.3 billion). 2 Upon adoption of IFRS 9 on 1 January 2018, certain forward starting repurchase and reverse repurchase agreements have been classified as measured at fair value through profit or loss and are recognized within derivative instruments. The fair value of these derivative instruments was not material as of 30 June 2018 or 31 March 2018. No notional amounts related to these instruments are included in this table, but they are disclosed within Note 16 under Forward starting transactions. 3 In cases where derivative financial instruments are presented on a net basis on the balance sheet, the respective notional values of the netted derivative financial instruments are still presented on a gross basis. 4 Other notional values relate to derivatives that are cleared through either a central 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 all periods presented. 5 Changes in the fair value of purchased and sold non-derivative financial instruments between trade date and settlement date are recognized as derivative financial instruments. 6 Financial assets and liabilities are presented net on the balance sheet if UBS has the unconditional and legally enforceable right to offset the recognized amounts, both in the normal course of business and in the event of default, bankruptcy or insolvency of the entity and all of the counterparties, and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously. 7 Reflects the netting potential in accordance with enforceable master netting and similar arrangements where not all criteria for a net presentation on the balance sheet have been met. Refer to “Note 24 Offsetting financial assets and financial liabilities” in the “Consolidated financial statements” section of the Annual Report 2017 for more information. b) Cash collateral on derivative instruments CHF billion Receivables 30.6.18 Payables 30.6.18 Receivables 31.3.18 Payables 31.3.18 Receivables 31.12.17 Payables 31.12.17 Cash collateral on derivative instruments, based on IFRS netting 1 24.9 31.8 24.3 29.4 23.4 30.2 Further netting potential not recognized on the balance sheet 2 (13.0) (15.5) (13.5) (14.4) (12.5) (17.4) of which: netting of recognized financial liabilities / assets (12.5) (14.5) (12.9) (13.3) (11.7) (16.3) of which: netting with collateral received / pledged (0.5) (1.0) (0.6) (1.2) (0.7) (1.2) Cash collateral on derivative instruments, after consideration of further netting potential 11.9 16.4 10.7 15.0 11.0 12.8 1 Financial assets and liabilities are presented net on the balance sheet if UBS has the unconditional and legally enforceable right to offset the recognized amounts, both in the normal course of business and in the event of default, bankruptcy or insolvency of UBS or its counterparties, and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously. 2 Reflects the netting potential in accordance with enforceable master netting and similar arrangements where not all criteria for a net presentation on the balance sheet have been met. Refer to “Note 24 Offsetting financial assets and financial liabilities” in the “Consolidated financial statements” section of our Annual Report 2017 for more information. |
Other assets and liabilities
Other assets and liabilities | 3 Months Ended |
Jun. 30, 2018 | |
Other Assets And Other Liabilities [Line Items] | |
Disclosure of other assets and other liabilities [textblock] | Note 12 Other assets and liabilities a) Other financial assets measured at amortized cost CHF million 30.6.18 31.3.18 31.12.17 Prime brokerage receivables 1 19,080 Debt securities 12,241 10,610 9,166 of which: government bills / bonds 9,787 7,775 6,465 Loans to financial advisors 2 3,394 3,326 3,118 Fee- and commission-related receivables 1,751 1,679 1,780 Finance lease receivables 1,076 1,070 1,059 Settlement and clearing accounts 448 557 716 Accrued interest income 667 609 577 Other 1,417 1,279 1,365 Total other financial assets measured at amortized cost 20,996 19,129 36,861 1 Upon adoption of IFRS 9 on 1 January 2018, the classification of prime brokerage receivables and payables changed from amortized cost to fair value through profit or loss, and brokerage receivables and payables are now presented separately on the balance sheet. Refer to Note 19 for more information. 2 Related to financial advisors in the US and Canada. b) Other non-financial assets CHF million 30.6.18 31.3.18 31.12.17 Precious metals and other physical commodities 3,975 4,032 4,563 Bail deposit 1 1,320 1,336 1,337 Prepaid expenses 1,037 1,065 1,013 Net defined benefit pension and post-employment assets 61 1 0 VAT and other tax receivables 384 365 359 Properties and other non-current assets held for sale 65 67 95 Other 482 459 266 Total other non-financial assets 7,324 7,324 7,633 1 Refer to item 1 in Note 15b for more information. c) Other financial liabilities measured at amortized cost CHF million 30.6.18 31.3.18 31.12.17 Prime brokerage payables 1 29,646 Other accrued expenses 2,178 2,277 2,444 Accrued interest expenses 1,288 1,291 1,513 Settlement and clearing accounts 1,257 1,067 1,395 Other 2,186 1,276 1,338 Total other financial liabilities measured at amortized cost 6,909 5,911 36,337 1 Upon adoption of IFRS 9 on 1 January 2018, the classification of prime brokerage receivables and payables changed from amortized cost to fair value through profit or loss, and brokerage receivables and payables are now presented separately on the balance sheet. Refer to Note 19 for more information. d) Other financial liabilities designated at fair value CHF million 30.6.18 31.3.18 31.12.17 Amounts due under unit-linked investment contracts 24,913 24,348 11,523 Structured securities financing transactions 6,533 5,812 375 Over-the-counter debt instruments 5,888 4,270 4,317 of which: life-to-date own credit (gain) / loss (41) 5 36 Loan commitments and guarantees 8 7 9 Total other financial liabilities designated at fair value 37,342 34,438 16,223 e) Other non-financial liabilities CHF million 30.6.18 31.3.18 31.12.17 Compensation-related liabilities 5,922 5,224 7,674 of which: accrued expenses 1,765 1,141 2,670 of which: Deferred Contingent Capital Plan 1,770 1,629 1,993 of which: other deferred compensation plans 1,762 1,627 2,086 of which: net defined benefit pension and post-employment liabilities 625 828 925 Current and deferred tax liabilities 907 947 912 VAT and other tax payables 503 534 415 Deferred income 240 244 150 Other 136 67 53 Total other non-financial liabilities 7,708 7,016 9,205 |
Debt issued designated at fair
Debt issued designated at fair value | 3 Months Ended |
Jun. 30, 2018 | |
Disclosure Of Financial Liabilities [Line Items] | |
Disclosure Of Financial Instruments Designated At Fair Value Through Profit Or Loss Explanatory | Note 13 Debt issued designated at fair value CHF million 30.6.18 31.3.18 31.12.17 Issued debt instruments Equity-linked 1 39,355 36,107 34,162 Rates-linked 7,505 5,972 5,811 Credit-linked 3,034 2,933 2,937 Fixed-rate 4,293 4,187 3,921 Other 2,661 2,860 2,671 Total debt issued designated at fair value 56,849 52,059 49,502 of which: issued by UBS AG with original maturity greater than one year 2 41,624 38,255 37,266 of which: life-to-date own credit (gain) / loss (188) 14 159 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. More than 99% of the balance as of 30 June 2018 was unsecured (31 March 2018: more than 99% of the balance was unsecured; 31 December 2017: more than 99% of the balance was unsecured). |
Debt issued held at amortized c
Debt issued held at amortized cost | 3 Months Ended |
Jun. 30, 2018 | |
Disclosure Of Financial Liabilities [Line Items] | |
Disclosure Of Debt Securities Explanatory | Note 14 Debt issued measured at amortized cost CHF million 30.6.18 31.3.18 31.12.17 Certificates of deposit 12,720 18,779 23,831 Commercial paper 28,878 23,304 23,532 Other short-term debt 3,730 4,078 3,590 Short-term debt 1 45,328 46,162 50,953 Senior unsecured debt 33,699 34,729 32,268 of which: issued by UBS AG with original maturity greater than one year 2 33,697 34,725 32,256 Senior unsecured debt that contributes to total loss-absorbing capacity 29,123 26,431 27,233 Covered bonds 4,029 4,105 4,112 Subordinated debt 16,931 18,030 16,555 of which: high-trigger loss-absorbing additional tier 1 capital instruments 7,119 6,898 5,187 of which: low-trigger loss-absorbing additional tier 1 capital instruments 2,359 2,342 2,383 of which: low-trigger loss-absorbing tier 2 capital instruments 6,748 8,097 8,286 of which: non-Basel III-compliant tier 2 capital instruments 705 694 700 Debt issued through the Swiss central mortgage institutions 8,357 8,349 8,345 Other long-term debt 63 77 87 of which: issued by UBS AG with original maturity greater than one year 2 54 58 66 Long-term debt 3 92,201 91,721 88,599 Total debt issued measured at amortized cost 4 137,530 137,883 139,551 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 30 June 2018 was unsecured (31 March 2018: 100% of the balance was unsecured; 31 December 2017: 100% of the balance was unsecured). 3 Debt with an 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. |
Provisions
Provisions | 3 Months Ended |
Jun. 30, 2018 | |
Disclosure Of Other Provisions [Line Items] | |
Disclosure Of Provisions Explanatory | Note 15 Provisions and contingent liabilities a) Provisions The table below presents an overview of total provisions recognized under both IAS 37 and IFRS 9. CHF million 30.6.18 31.3.18 31.12.17 Provisions recognized under IAS 37 3,012 2,937 3,100 Provisions for off-balance sheet financial instruments 1 76 72 33 Provisions for other credit lines 1 35 35 0 Total provisions 3,123 3,044 3,133 1 Provisions recognized in 2018 relate to exposures in the scope of the expected credit loss requirements of IFRS 9. Refer to Notes 9 and 19 for more information. 2017 provisions for off-balance sheet financial instruments relate to loss provisions recognized under IAS 37. The following table presents additional information for provisions recognized under IAS 37. CHF million Operational risks 1 Litigation, regulatory and similar matters 2 Restructuring Real estate Employee benefits 5 Other Total Balance as of 31 December 2017 43 2,444 322 134 68 89 3,100 Balance as of 31 March 2018 41 2,331 280 134 66 85 2,937 Increase in provisions recognized in the income statement 5 154 39 0 1 2 201 Release of provisions recognized in the income statement (1) (13) (29) 0 (2) 0 (44) Provisions used in conformity with designated purpose (4) (94) (48) (2) 0 (4) (151) Capitalized reinstatement costs 0 0 0 (2) 0 0 (2) Foreign currency translation / unwind of discount 0 64 6 1 0 0 71 Balance as of 30 June 2018 41 2,442 248 3 132 4 66 83 3,012 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 60 million as of 30 June 2018 (31 March 2018: CHF 63 million, 31 December 2017: CHF 83 million) and provisions for onerous lease contracts of CHF 183 million as of 30 June 2018 (31 March 2018: CHF 212 million, 31 December 2017: CHF 235 million). 4 Consists of reinstatement costs for leasehold improvements of CHF 90 million as of 30 June 2018 (31 March 2018: CHF 92 million, 31 December 2017: CHF 92 million) and provisions for onerous lease contracts of CHF 41 million as of 30 June 2018 (31 March 2018: CHF 42 million, 31 December 2017: CHF 41 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 used within a short time period, usually within six m o nths, but potential changes in amount may be triggered when natural staff attrition redu ces the number of people affected by a restructuring and therefore the estimated costs. Information on provisions and contingent liabilities in respect of litigation, regulatory and similar matters, as a class, is included in Note 15b. There are no materia l contingent liabilities associated with the other classes of provisions. |
Litigation, regulatory and simi
Litigation, regulatory and similar matters | 3 Months Ended |
Jun. 30, 2018 | |
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | |
Disclosure Of Contingent Liabilities Explanatory | Note 15 Provisions and contingent liabilities b) Litigation, 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 order to avoid the expense, management distraction or reputation al 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 res pect 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 p resent 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 clai ms 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 sig nificant. 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 significance due to potential financial, reputational and othe r 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 potential 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 s ubject 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 con tingent 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 provisions, 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 liquidity over the relevant time periods. The aggregate amount provisioned for litigation, regulatory and similar matters as a class is disclosed in t he “Provisions” table in Note 15 a above. 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 n ot 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 Offe red 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 certa in 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 wa ivers, or any limitation, suspension or termination of licenses, authorizations or participations, could have material consequences for UBS. The risk of loss associated 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 included 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 Global Wealth Manage- ment Personal & Corporate Banking Asset Manage- ment Investment Bank CC – Services CC – Group ALM CC – Non-core and Legacy Portfolio UBS Balance as of 31 December 2017 555 79 1 345 240 0 1,224 2,444 Balance as of 31 March 2018 546 79 1 323 216 0 1,166 2,331 Increase in provisions recognized in the income statement 69 0 0 3 1 0 82 154 Release of provisions recognized in the income statement (12) 0 0 0 0 0 0 (13) Provisions used in conformity with designated purpose (47) (3) 0 (1) 0 0 (42) (94) Foreign currency translation / unwind of discount 11 0 0 9 0 0 45 64 Balance as of 30 June 2018 567 75 0 333 216 0 1,251 2,442 1 Provisions, if any, for the matters described in this Note are recorded in Global Wealth Management (item 3 and 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 Global 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. 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 jurisdicti ons 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 se rvices could give rise to further inquiries in the future. UBS has received disclosure orders from 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, includin g 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 Court 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 dis closure orders. Since 2013, UBS (France) S.A. , UBS AG and certain former employees have been under investigation in France for alleged complicity in having illicitly solicited clients on French territory , 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 UBS 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 re commendation (“ 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 that transfers the case to court. The trial is scheduled to start in October 2018. 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 ”). The appeal is pending, alth ough the criminal court subsequently found the individual’s guilty plea to be invalid. In 2016, UBS was notified by the Belgian investigating judge that it is under formal investigation (“ inculpé ”) regarding the laundering of proceeds of tax fraud , of ban king and financial solicitation by unauthorized persons , and of serious tax fraud. UBS has, and reportedly numerous other financial institutions have, received inquiries from authorities concerning accounts relating to the Fédération Internationale de Foot ball Association (FIFA) and other constituent soccer associations and related persons and entities. UBS is cooperating with authorities in these inquiries. Our balance sheet at 30 June 2018 reflected provisions with respect to matters described in this ite m 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 ce rtainty based on currently available information and accordingly may ultimately prove to be substantially greater (or may be less) than the provision that we have recognized. 2. Claims related to sales of residential mortgage-backed securities and mortgage s From 2002 through 2007, prior to the crisis in the US residential loan market, UBS was a substantial issuer and underwriter of US residential mortgage-backed securities (RMBS) and was a purchaser and seller of US residential mortgages. A subsidiary of UB S, UBS Real Estate Securities Inc. (UBS RESI), acquired pools of residential mortgage loans from originators 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 U SD 19 billion in original principal balance. UBS was not a significant originator of US residential loans. 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 conce rning mortgages and RMBS: When UBS acted as an RMBS sponsor or mortgage seller, it generally made certain representations relating to the characteristics of the underlying loans. In the event of a material breach of these representations, UBS was in certai n circumstances contractually obligated to repurchase the loans to which the representations related or to indemnify certain parties against losses. In 2012, certain RMBS trusts filed an action (Trustee Suit) in the US District Court for the Southern Distr ict of New York (SDNY) seeking to enforce UBS RESI’s obligation to repurchase loans in the collateral pools for three RMBS securitizations issued and underwritten by UBS 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 applying those rulings to 20 exemplar loans. The court further ordered that a lead master be appointed to a pply the court’s rulings to the remaining loans . In 2017, UBS and certain holders of the RMBS in the Trustee Suit entered into an agreement under which UBS would have paid an aggregate of USD 543 million into the relevant RMBS trusts, plus certain att orneys’ fees. The trustee for the RMBS trusts declined to become a party to the settlement and the agreement with the RMBS holders therefore lapsed. In July 2018, UBS and the trustee entered into an agreement under which UBS will pay USD 850 million to res olve this matter. A significant portion of this amount will be borne by other parties that indemnified UBS. The settlement remains subject to approval by the court and proceedings to determine how the settlement funds will be distributed to RMBS holders. Aft er giving effect to this settlement, UBS considers claims relating to substantially all loan repurchase demands to be resolved, and believes that new demands to repurchase US residential mortgage loans are time-barred under a decision rendered by the New Y ork 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 pursuant 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 transactions 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 responded to inquiries from both the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) (who is working in conjunction with the US Attorney’s Office for Connecticut and the DOJ) and the US Securities and Exchange Commission ( SEC ) relating to trading practices in connection with purchases and sales of mortgage-backed securities in the secondary market from 2009 through 2014. UBS is coo perating with the authorities in these matters. Our balance sheet at 30 June 2018 reflected a provision with respect to matters described in this item 2 in an amount that UBS believes to be appropriate under the applicable accounting standard. As in the ca se 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 ultimately prove to be substantially gr eater (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, Luxembourg 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 f unds 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 fun ds are in liquidation. 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 fun ds may be held liable 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 the Luxemb ourg 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 offshore fu nds. 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 recovery of fra udulent conveyances and preference payments. In 2016, the Bankruptcy Court dismissed the remaining claims against the UBS entit ies. The BMIS Trustee appealed. 4. Puerto Rico Declines since 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 a rbitrations with aggregate claimed damages of USD 2. 6 billion, of which claims with aggregate claimed damages of USD 1. 6 billion have been resolved through settlements, arbitration or withdrawal 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 l oans. 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 losses in the funds. In 2015, defendants’ motion to dismiss was denie d. 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 also 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’ motion to dismiss was granted in part and denied in part. In 2015, a cla ss 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 Bank USA in December 2013 based on plaintiffs’ allegation that the loa ns 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 decision and remanded the case back to the trial court for reconsideratio n. On reconsideration the trial court granted defendant’s motion and dismis sed the action. In 2014, UBS reached a settlement with the Office of the Commissioner of Financial Institutions for 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 restitution. In 2015, the SEC and the Financial Industry Regulatory Aut hority (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 agreed in the SEC settlement to pay USD 15 million and USD 18.5 milli on 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 authorities in this inquiry. In 2011, a purported derivative action was f iled 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 underwriting and consulting services. Plaintiffs alleged that defendants viola ted 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 2015, and continuing through 2017, certain agencies and public corporations of the Commonwealth of Puerto Rico (Commonwealth) defaulted on certain interest payments on Puerto Rico bonds. The f unds hold significant amounts of those bonds and the defaults on interest payments have had, and are expected to continue to have, an adverse e ffect on dividends from the funds. Executive orders of the Governor of Puerto Rico that have diverted funds to pa y 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 has imposed a stay on the exercise of creditors’ rights. In 2017, the oversight board placed certain of the bonds into a bankruptcy-like proceeding under the supervision of a Federal District Judge. These ev ents, further 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 t he number of claims against UBS concerning Puerto Rico securities, as well as potential damages sought. Our balance sheet at 30 June 2018 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 accordingly 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 initial 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. Numero us authorities 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 Co mmission (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 (F ederal 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. UBS has ongoing obligations to cooperate with these authorities and t o undertake certain remediation measures . UBS has also been granted conditional 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. Investigations relating to foreign exchange and precious metals matters by certain authorities remain ongoing notwithstanding these resolutions. Foreign exchange-related civil litigation: Putative class act ions have been filed since 2013 in US federal courts and in other jurisdictions against UBS and other 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, additional 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 hel d 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 b oth putative classes of persons covered by the US federal court class actions described above. UBS has entered into a settlement agreement that would resolve all of these US federal court class actions. The settlement agreement, which has been preliminaril y approved by the court and is subject to final court approval, requires, among other things, that UBS pay an aggregate of USD 141 million and provide cooperation to the settlement classes. In 2015, a putative class action was filed in federal court against UBS and numerous other banks on behalf of persons and businesses in the US who directly purchased foreign currency from the defe ndants and their co-conspirators for their own end use. 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 March 2018, the court denied the defendants ’ motions to dismiss the amended complaint. In 2016, a putative class action was filed in federal court in New York against UBS and numerous other banks on behalf of persons and entities who had indirectly purchased foreign exchange instruments from a defe ndant or co-conspirator in the US. The complaint asserts claims under federal and state antitrust laws. In response to defendants’ motion to dismiss, plaintiffs agreed to dismiss their complaint. In 2017, two new putative class actions were filed in feder al court in New York against UBS and numerous other banks on behalf of different proposed classes of indirect purchasers of currency, and a consolidated complaint was filed in June 2017. In March 2018, the court dismis sed the consolidated complaint. Plaint iffs have filed a motion seeking leave to file an amended complaint. Putative class actions are also pending against UBS and other banks in federal court in New York and other jurisdictions on behalf of putative classes of persons who had bought or sold ph ysical precious metals and various precious metal products and derivatives. The complaints in these lawsuits assert claims under the antitrust laws and the CEA, and other claims. In 2016, the court in New York granted UBS’s motions to dismiss the putative class actions relating to gold and silver. Plaintiffs in those cases sought to amend their complaints to add new allegations about UBS, which the court granted. The plaintiffs filed amended complaints in 2017 , and motions to dismiss the amended complaints are pending . In March 2017, the court in New York granted UBS’s motion to dismiss the platinum and palladium action. In May 2017, plaintiffs in the platinum and palladium action filed an amended complaint that did not allege claims against UBS. LIBOR and o ther benchmark-related regulatory matters: Numerous government agencies, including the SEC, the CFTC, the DOJ, the FCA, the UK Serious Fraud Office (SFO), the Monetary Authority of Singapore (MAS), the Hong Kong Monetary Authority (HKMA), FINMA, various st ate attorneys general in the US and competition authorities in various jurisdictions, have conducted or are continuing to conduct investigations regarding potential improper attempts by UBS, among others, to manipulate LIBOR and other benchmark rates at ce rtain times. In 2012, UBS reached settlements relating to benchmark interest rates with the FSA, the CFTC and the Criminal Division of the DOJ, and FINMA issued an order in its proceedings with respect to UBS relating to benchmark interest rates. In additi on, UBS entered into settlements with the European Commission (EC) and with the Swiss Competition Commission (WEKO) regarding its investigation of bid-ask spreads in connection with Swiss franc interest rate derivatives. UBS has ongoing obligations to coop erate with the authorities with whom we have reached resolutions and to undertake certain remediation measures with respect to benchmark interest rate submissions. UBS has been granted conditional leniency or conditional immunity from authorities in certai n jurisdictions, including the Antitrust Division of the DOJ and WEKO, in connection with potential antitrust or competition law violations related to certain rates. However, UBS has not reached a final settlement with WEKO as the Secretariat of WEKO has asserted that UBS does not qualify for full immunity. Investigations by certain governmental authorities remain ongoing notwithstanding these resolutions. LIBOR and other benchmark-related civil litigation: A number of putative class actions and other acti ons are pending in the federal courts in New York against UBS and numerous other banks on behalf of parties who transacted in certain interest rate benchmark-based derivatives. Also pending in the US and in other jurisdictions are a number of other actions asserting losses related to various products whose interest rates were linked to LIBOR and other benchmarks, including adjustable rate mortgages, preferred and debt securities, bonds pledged as collateral, loans, |
Guarantees, commitments and for
Guarantees, commitments and forward starting transactions | 3 Months Ended |
Jun. 30, 2018 | |
Maximum Exposure To Credit Risk [Line Items] | |
Disclosure Of Credit Risk Exposure Explanatory | CHF million 30.6.18 Carrying amount ECL allowance Financial instruments measured at amortized cost Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Cash and balances at central banks 102,262 102,262 0 0 0 0 0 0 Loans and advances to banks 15,577 15,569 8 0 (4) (2) 0 (2) Receivables from securities financing transactions 76,450 76,450 0 0 (2) (2) 0 0 Cash collateral receivables on derivative instruments 24,937 24,937 0 0 0 0 0 0 Loans and advances to customers 318,278 293,041 23,612 1,625 (847) (53) (174) (620) of which: Private clients with mortgage 121,858 108,533 12,498 826 (122) (9) (79) (34) of which: Real estate financing 35,659 26,826 8,795 39 (60) (3) (49) (8) of which: Large corporate clients 10,486 9,841 555 91 (82) (5) (9) (68) of which: SME clients 9,920 8,055 1,284 581 (292) (8) (25) (258) of which: Lombard 116,795 116,779 0 16 (90) (4) 0 (86) of which: Credit cards 1,406 1,123 268 14 (37) (6) (11) (20) of which: Commodity trade finance 3,075 3,049 13 13 (88) (4) 0 (84) Other financial assets measured at amortized cost 20,996 20,188 292 516 (168) (39) (6) (123) of which: Loans to financial advisors 3,394 3,139 85 171 (124) (32) (2) (90) Total financial assets measured at amortized cost 1 558,500 532,447 23,912 2,141 (1,022) (97) (179) (746) Financial assets measured at fair value through other comprehensive income 6,941 6,941 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 565,441 539,388 23,912 2,141 (1,022) (97) (179) (746) Total exposure ECL provision Off-balance sheet (in scope of ECL) Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Guarantees 18,529 17,826 506 197 (34) (7) (1) (26) of which: Large corporate clients 3,818 3,462 218 138 (7) (1) 0 (5) of which: SME clients 1,262 996 221 45 (16) 0 (1) (15) of which: Financial intermediaries and hedge funds 7,473 7,464 9 0 (4) (4) 0 0 of which: Lombard 2,493 2,493 0 0 0 0 0 0 of which: Commodity trade finance 2,398 2,342 43 13 (4) (1) 0 (3) Irrevocable loan commitments 31,009 30,407 563 38 (42) (34) (8) 0 of which: Large corporate clients 21,914 21,342 550 22 (34) (27) (7) 0 Forward starting reverse repurchase and securities borrowing agreements 1,545 1,545 0 0 0 0 0 0 Committed unconditionally revocable credit lines 34,129 33,011 1,053 65 (33) (21) (13) 0 of which: Real estate financing 2,676 2,404 272 0 (16) (8) (8) 0 of which: Large corporate clients 4,065 4,000 65 0 (1) (1) 0 0 of which: SME clients 4,407 3,961 390 57 (8) (5) (2) 0 of which: Lombard 6,231 6,231 0 0 0 0 0 0 of which: Credit cards 6,980 6,712 267 0 (5) (3) (1) 0 of which: Commodity trade finance 2,707 2,703 0 5 (1) (1) 0 0 Irrevocable committed prolongation of existing loans 2,760 2,741 19 0 (1) (1) 0 0 Total off-balance sheet financial instruments and other credit lines 87,972 85,531 2,142 300 (111) (62) (23) (26) Total allowances and provisions (1,133) (159) (202) (772) 1 The carrying value of financial assets at amortized cost is net of the respective ECL allowances. CHF million 31.3.18 Carrying amount ECL allowance Financial instruments measured at amortized cost Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Cash and balances at central banks 92,800 92,800 0 0 0 0 0 0 Loans and advances to banks 13,338 13,300 38 0 (5) (3) 0 (2) Receivables from securities financing transactions 77,016 77,016 0 0 (2) (2) 0 0 Cash collateral receivables on derivative instruments 24,271 24,271 0 0 0 0 0 0 Loans and advances to customers 316,195 287,107 27,543 1,545 (838) (54) (162) (622) of which: Private clients with mortgage 120,535 104,614 15,149 772 (127) (11) (71) (44) of which: Real estate financing 36,003 26,415 9,553 36 (62) (3) (51) (8) of which: Large corporate clients 11,610 10,828 684 97 (62) (7) (2) (54) of which: SME clients 10,072 7,893 1,629 550 (281) (9) (24) (248) of which: Lombard 114,436 114,423 0 13 (86) (4) 0 (82) of which: Credit cards 1,334 1,069 252 14 (34) (5) (9) (19) of which: Commodity trade finance 3,008 2,942 61 5 (92) (4) (4) (85) Other financial assets measured at amortized cost 19,129 18,371 271 488 (146) (35) (5) (106) of which: Loans to financial advisors 3,326 3,104 74 149 (115) (28) (2) (85) Total financial assets measured at amortized cost 1 542,749 512,865 27,851 2,033 (992) (94) (168) (730) Financial assets measured at fair value through other comprehensive income 6,758 6,758 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 549,507 519,623 27,851 2,033 (992) (94) (168) (730) Total exposure ECL provision Off-balance sheet (in scope of ECL) Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Guarantees 17,404 16,624 577 203 (40) (7) (2) (31) of which: Large corporate clients 3,775 3,380 249 146 (10) (1) 0 (9) of which: SME clients 1,313 1,029 235 50 (16) 0 (1) (15) of which: Financial intermediaries and hedge funds 5,740 5,694 47 0 (3) (3) 0 0 of which: Lombard 2,537 2,537 0 0 0 0 0 0 of which: Commodity trade finance 1,783 1,752 24 7 (4) (1) 0 (3) Irrevocable loan commitments 29,746 29,181 547 18 (32) (24) (7) (1) of which: Large corporate clients 22,234 21,693 535 7 (26) (20) (5) (1) Forward starting reverse repurchase and securities borrowing agreements 1,231 1,231 0 0 0 0 0 0 Committed unconditionally revocable credit lines 35,892 33,937 1,879 75 (34) (17) (17) 0 of which: Real estate financing 2,942 2,134 808 0 (12) (2) (9) 0 of which: Large corporate clients 4,804 4,700 99 5 0 0 0 0 of which: SME clients 4,617 4,065 496 56 (7) (4) (3) 0 of which: Lombard 5,960 5,960 0 0 0 0 0 0 of which: Credit cards 6,879 6,609 269 0 (5) (4) (1) 0 of which: Commodity trade finance 3,413 3,307 92 14 (2) (1) (1) 0 Irrevocable committed prolongation of existing loans 1,912 1,912 0 0 (1) (1) 0 0 Total off-balance sheet financial instruments and other credit lines 86,184 82,885 3,003 296 (106) (49) (26) (32) Total allowances and provisions (1,098) (143) (194) (762) 1 The carrying value of financial assets at amortized cost is net of the respective ECL allowances. CHF million 1.1.18 Carrying amount ECL allowance Financial instruments measured at amortized cost Total Stage 1 Stage 2 Stage 3 2 Total Stage 1 Stage 2 Stage 3 Cash and balances at central banks 87,775 87,775 0 0 0 0 0 0 Loans and advances to banks 13,719 13,701 18 0 (5) (2) 0 (3) Receivables from securities financing transactions 84,674 84,674 0 0 (2) (2) 0 0 Cash collateral receivables on derivative instruments 23,434 23,434 0 0 0 0 0 0 Loans and advances to customers 310,451 281,149 27,812 1,491 (867) (61) (163) (644) of which: Private clients with mortgage 119,560 103,867 15,006 686 (124) (12) (69) (44) of which: Real estate financing 35,896 26,210 9,657 29 (62) (3) (53) (6) of which: Large corporate clients 11,004 10,358 557 88 (69) (6) 0 (63) of which: SME clients 10,322 8,218 1,518 585 (287) (8) (23) (256) of which: Lombard 111,748 111,731 0 17 (84) (5) 0 (79) Other financial assets measured at amortized cost 18,302 17,805 32 465 (136) (29) (1) (106) of which: Loans to financial advisors 3,086 2,874 32 179 (115) (28) (1) (87) Total financial assets measured at amortized cost 1 538,354 508,538 27,862 1,956 (1,011) (95) (164) (752) Financial assets measured at fair value through other comprehensive income 6,755 6,755 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 545,110 515,293 27,862 1,956 (1,011) (95) (164) (752) Total exposure ECL provision Off-balance sheet (in scope of ECL) Total Stage 1 Stage 2 Stage 3 2 Total Stage 1 Stage 2 Stage 3 Guarantees 17,152 16,331 633 189 (37) (6) (2) (29) Irrevocable loan commitments 30,852 30,153 662 37 (36) (24) (8) (4) of which: Large corporate clients 21,999 21,344 629 26 (27) (19) (4) (4) Forward starting reverse repurchase and securities borrowing agreements 1,216 1,216 0 0 0 0 0 0 Committed unconditionally revocable credit lines 36,690 34,471 2,157 62 (34) (19) (15) 0 of which: Real estate financing 3,103 2,097 1,007 0 (9) (2) (7) 0 of which: SME clients 4,770 4,311 406 53 (7) (5) (2) 0 Irrevocable committed prolongation of existing loans 1,635 1,634 0 1 0 0 0 0 Total off-balance sheet financial instruments and other credit lines 87,545 83,805 3,452 288 (107) (49) (24) (33) Total allowances and provisions (1,117) (144) (188) (785) 1 The carrying value of financial assets at amortized cost is net of the respective ECL allowances. 2 Upon adoption of IFRS 9 as of 1 January 2018, an instrument is classified as credit-impaired if the counterparty is defaulted, and / or the instrument is purchased or originated credit-impaired and includes credit impaired exposures for which no loss has occurred, or for which no allowance has been recognized (e.g., because they are expected to be fully recoverable through the collateral held). Refer to Note 19 for more information on the adoption of IFRS 9. |
Total off-balance sheet financial instruments and other credit lines | |
Maximum Exposure To Credit Risk [Line Items] | |
Disclosure Of Credit Risk Exposure Explanatory | Note 16 Guarantees, commitments and forward starting transactions The table below presents the maximum irrevocable amount of guarantees, commitments and forward starting transactions. 30.6.18 31.3.18 31.12.17 CHF million Gross Sub- participations Net Gross Sub- participations Net Gross Sub- participations Net Total guarantees 20,175 (2,976) 17,199 19,009 (2,923) 16,086 18,854 (2,867) 15,987 Loan commitments 39,567 (662) 38,905 34,534 (866) 33,667 39,069 (1,074) 37,995 Forward starting transactions 1 Reverse repurchase agreements 13,521 16,905 12,683 Securities borrowing agreements 38 35 23 Repurchase agreements 10,868 13,763 8,187 1 Cash to be paid in the future by either UBS or the counterparty. |
Changes in organization
Changes in organization | 3 Months Ended |
Jun. 30, 2018 | |
Disclosure Of Significant Investments In Associates [Line Items] | |
Disclosure of changes in organization and disposals [text block] | Note 17 Changes in organization F ollowing the announcement by the China Securities Regulatory Commission that foreign investors will be permitted to increase their ownership percentages in China affiliates to a cap of 51%, and may be allowed to increase their ownership up to 100% in 2021, UBS submitted in May 2018 a preliminary application to increase the shareholding in its China affiliate, UBS Securities Co. Limited (UBSS), from 24.99% to 51%. The transaction is subject to completion of a share purchase from existing shareholders and reg ulatory approval. If UBS acquires majority ownership, UBS would consolidate its investment in UBSS under IFRS and would be required to re measure its current 24.99% holding in UBSS at fair value, likely resulting in a loss. |
Currency translation rates
Currency translation rates | 3 Months Ended |
Jun. 30, 2018 | |
Foreign Exchange Rates [Line Items] | |
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory | Note 18 Currency translation rates The following table shows the rates of the main currencies used to translate the financial information of UBS’s foreign operations into Swiss francs. Spot rate Average rate 1 As of For the quarter ended Year-to-date 30.6.18 31.3.18 31.12.17 30.6.17 30.6.18 31.3.18 30.6.17 30.6.18 30.6.17 1 USD 0.99 0.95 0.97 0.96 0.99 0.94 0.97 0.97 0.99 1 EUR 1.16 1.17 1.17 1.10 1.17 1.16 1.09 1.16 1.08 1 GBP 1.31 1.34 1.32 1.25 1.33 1.32 1.26 1.32 1.26 100 JPY 0.89 0.90 0.86 0.85 0.90 0.88 0.87 0.89 0.88 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 quarter represent an average of three 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. |
Transition to IFRS 9 and IFRS 1
Transition to IFRS 9 and IFRS 15 as of 1 January 2018 | 3 Months Ended |
Jun. 30, 2018 | |
Explanation Of First time Adoption Of IFRS9 [Line Items] | |
Explanation Of First time Adoption Of IFRS9 | Note 19 Transition to IFRS 9 as of 1 January 2018 19.1 Update to significant accounting policies disclosed in Note 1a) to the Financial Statements 2017 related to IFRS 9 The adoption of IFRS 9 , Financial Instruments (IFRS 9) resulted in changes to UBS’s accounting policies applicable from 1 January 2018. Accounting polices set out below replace item 3) b, c, g, h, i, I, o and p in Note 1a ) in the UBS Group consolidated annual Financial Statements for the year ended 31 December 2017. A s permitted by the transition provisions of IFRS 9 UBS elected not to restate comparative period information, and the a ccounting policies as set out in Note 1 in the UBS Group AG consolidated annual Financial Statements for the period ended 31 December 2017 apply to comparative periods. Update to Note 1a) 3 ) Financial i nstruments b. Classification, measurement and presentation On initial recognition, financial assets are classified as measured at amortized cost, fair value through other comprehensive income (FVOCI) or fair value through profit or loss (FVTPL). A debt instrument is measured at amortized cost if it meets the following condi tions: it is held within a business model that has an objective to hold financial assets to collect contractual cash flows; and the contractual terms of the financial asset result in cash flows that are solely payments of principal and interest (SPPI) on the principal amount outstanding. A debt instrument is measured at FVOCI if it meets both of the following conditions: it is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial asset s; and the contractual terms of the financial asset result in cash flows that are SPPI. Equity instruments are accounted for at FVTPL. All other financial assets are measured at FVTPL and consist of held for trading assets, assets mandatorily measured on a fair value basis and derivatives, except to the extent that they are designated in a hedging relationship, in which case the IAS 39 hedge accounting requirements continue to apply. Business model assessment UBS determines the nature of the business mode l, for example if the objective is to hold the financial asset and collect the contractual cash flows, by considering the way in which the financial assets are managed to achieve a particular business objective as determined by management. Financial asset s that are held for trading or managed on a fair value basis are measured at FVTPL insofar as the associated business model is neither to hold the financial assets to collect contractual cash flows nor to hold to collect contractual cash flows and sell. Th e Group originates loans to hold to maturity and to sell or sub-participate to other parties, resulting in a transfer of substantially all the risks and rewards, and derecognition of the loan or portions of it. The Group considers the activities of lending to hold and lending to sell or sub-participate as two separate business models, with financial assets within the former considered to be within a business model that has an objective to hold the assets to collect contractual cash flows, and those within t he latter included in a trading portfolio. In certain cases, it may not be possible on origination to identify whether loans or portions of loans will be sold or sub-participated and certain loans may be managed on a fair value basis through, for instance, using credit derivatives. These financial assets are mandatorily measured at FVTPL. Critical accounting estimates and judgments UBS exercises judgment to determine the appropriate level at which to assess its business models. In general the assessment is performed at the product level, e.g., retail and commercial mortgages. In other cases the assessment is carried out at a more granular level, e.g., loan portfolios by region, and, if required, further disaggregation is performed by business strategy. In addition, UBS exercises judgment in determining the effect of sales of financial instruments on the business model assessment. Contractual cash flow characteristics In assessing whether the contractual cash flows are SPPI, the Group considers whether the contractual terms of the financial asset contain a term that could change the timing or amount of contractual cash flows arising over the life of the instrument, which could affect whether the instrument is considered to meet the SPPI criteria. For example, the Group holds portfolios of private mortgage contracts and corporate loans in Personal & Corpo rate Banking that commonly contain clauses that provide for two-way compensation if prepayment occurs. The amount of compensation paid by or to UBS reflects the effect of changes in market interest rates. The Group has determined that the inclusion of the change in market interest rates in the compensation amount is reasonable for the early termination of the contract, and therefore results in contractual cash flows that are SPPI. All financial instruments are initially measured at fair value. In the case of financial instruments subsequently measured at amortized cost or FVOCI, the initial fair value is adjusted for directly attributable transaction costs. After initial recognition, UBS classifies, measures and presents its financial assets and liabilities in accordance with IFRS 9 as described in the table on the following pages. Critical accounting estimates and judgments UBS applies judgment when consid ering whether certain contractual features, such as interest rate reset frequency or non-recourse features, significantly affect future cash flows. Furthermore, judgment is required when assessing whether compensation paid or received on early termination of lending arrangements results in cash flows that are not SPPI. Financial assets classification Significant items included Measurement and presentation Measured at amortized cost A debt financial asset is measured at amortized cost if: it is held in a business model that has an objective to hold assets to collect contractual cash flows, and the contractual terms give ris e to cash flows that are SPPI. This classification includes: cash and balances at central banks loans and advances to banks cash collateral receivable on securities borrowed receivables on reverse repurchase agreements cash collateral receivables on derivative instruments residential and commercial mortgages corporate lo ans secured loans, including Lombard loans, and unsecured loans loans to financial advisors debt securities held as high-quality liquid assets (HQLA) fee and l ease receivables. Measured at amortized cost using the effective interest rate (EIR) method less allowances for expected credit losses (ECL) (refer to items 3 c and 3 g in this Note for more information). The following items are recognized in the income statement: Interest income , which is accounted for in accordance with item 3 c in this Note ECL and reversals Foreign exchange translation gains and losses Upfront fees and direct costs relating to loan origination, refinancing or restructuring as well as to loan commitments – when it is probable that UBS will enter into a specific lending relations hip – are deferred and amortized over the life of the loan using the EIR method. When the financial asset at amortized cost is derecognized, the gain or loss is recognized in the income statement. Amounts arising from exchange-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 “ Note 1a ) Significant acco unting policies ” items 3d and 3j in the “ Consolidated financial statements ” section of the Annual R eport 2017 for more information) are presented within Cash collateral receivables on derivative instruments. Measured at FVOCI Debt instruments measured a t FVOCI A debt financial asset is measured at FVOCI if: it is held in a business model whose objective is achieved by both holding assets to collect contractual cash flows and selling the assets, and the contractual terms give rise to cash flows that are SPPI. This classification primarily includes debt securities and certain asset-backed securities held as HQLA for which the contractual cash flows meet the SPPI conditions. Measured at fair value with unrealized gains and losses reported in Other comprehe nsive income, net of applicable income taxes, until such investments are derecognized (when sold, collected or otherwise disposed). Upon derecognition, any accumulated balances in Other comprehensive income are reclassified to the income statement and repo rted within Other income. The following items are recognized in the income statement: Inte rest income, which is accounted for in accordance with item 3c in this Note ECL and reversals Foreign exchange tr anslation gains and losses. The amounts recognized in the income statement are determined on the same basis as for financial assets measured at amortized cost. Financial assets classification Significant items included Measurement and presentation Measured at FVTPL Held for trading Financial assets held for trading include: all derivatives with a positive replacement value, except those that are designated as effective hedging instruments other financial asset s acquired principally for the purpose of selling or repurchasing in the near term, or that are part of a portfolio of identified financial instruments that are managed together and for which there is evidence of a recent actual patter n 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) and equity instruments . Measured at fair value with changes recognized in pro fit or loss. Changes in fair value, initial transaction costs and gains and losses realized on disposal or redemption are recognized in Other n et income from fair value changes on financial instruments , except interest and dividend income on instruments o ther than deriv atives (refer to item 3c in this Note for more information), interest on derivatives designated as hedging instruments in certain types of hedge accounting relationships and forward points on certain long- and short-duration foreign exchange contracts, which are reported in Net interest income . Derivative assets are generally presented as Derivative financial instruments , except those exchange-traded and OTC-cleared derivatives that are considered to be settled on a daily basis or qualify f or netting and are presented within Cash collateral receivables on derivative instruments. The presentation of fair value changes on derivatives that are designated and effective as hedging instruments de pends on the type of hedge relationship (refer to “ Note 1a ) Significant accounting policies ” item 3k in the “ Consolidated financial statements ” section of the Annual R eport 2017 for more information). Financial assets held for trading (other than derivatives) are presented as Financial assets at fair val ue held for trading . Other financial assets mandatorily measured at fair value through profit or loss are presented as Financial assets at fair value not held for trading , except for brokerage receivables, which are presented as a separate line item on t he Group ’ s balance sheet. Mandatorily measured at FVTPL – Other A financial asset is mandatorily measured at FVTPL if: it is not held in a business model whose objective is to hold assets to collect contractual cash flows or to hold them to collect contractual cash flows and sell, and / or the contractual terms give rise to cash flows that are not SPPI , and / or it is not held for trading . The following financial assets are mandatorily measured at FVTPL: Cert ain structured loans, certain commercial loans, receivables under reverse repurchase and cash collateral on securities borrowing agreements that are managed on a fair value basis Loans, managed on a fair value basis and hedged with credit derivatives Certain debt securities held as HQLA and man aged on a fair value basis Certain investment fund holdings and assets held to hedge delivery obligations related to cash-settled employee compensation plans. These assets represent holdings in investments funds, whereby the contractual cash flows do not meet the SPPI conditions because the entry and exit price is based on the fair value of the fund ’ s assets Brokerage receivables, for which contractual cash flows do not meet the SPPI conditions due to the aggregate balance being accounted for as a single unit of account, with interest being calculated on the individual components Auction rate securities, for which contractual cash flows do not meet the SPPI conditions because interest may be reset at rates that contain leverage Equity instruments Assets he ld under unit-linked invest ment contracts . Financial liabilities classification Significant items included Measurement and presentation Measured at amortized cost This classification includes: Dem and and time deposits, retail savings / deposits, amounts payable under repurchase agreements, cash collateral on securities lent, non-structured fixed-rate bonds, subordinated debt, certificates of deposit and covered bonds Cas h collateral payable s on derivative instruments. Measured at amortized cost using the EIR method. Upfront fees and direct costs relating to the issuance or origination of the liability are deferred and amortized over the life of the liability using the EI R method. When the financial liability at amortized cost is derecognized, the gain or loss is recognized in the income statement. Amortized cost liabilities are presented on the balance sheet primarily as Amounts due to banks, Customer deposits, Payable s from securities financing transactions and Debt issued measured at amortized cost. Amounts arising from ETD and certain OTC derivatives cleared through central clearing counterparties that are either considered to be daily settled or qualify for nettin g (refer to “ Note 1a ) Significant accounting policies ” items 3d and 3j in the “ Consolidated financial statements ” section of the Annual R eport 2017 for more information ) are presented within Cash collateral payables on derivative instruments. Measured at fair value through profit or loss Held for trading Financial liabilities held for trading include: All de rivatives with a negative replacement value (including certain loan commitments) except those that are designated and effective hedging instruments Obligations to deliver financial instruments, such as debt and equity instruments, that UBS has sold to third parties, but does not own (sh ort positions). Measurement of financial liabilities classified at FVTPL follows the same principles as for financial assets classified at FVTPL, except that the amount of change in the fair value of the financial liability that is attributable to changes in UBS ’ s own credit risk is presented in OCI. Financial liabilities measured at FVTPL are presented as Financial lia bilities at fair value held for trading and Other fi nancial liabilities designated at fair value , respectively, except for brokerage payables and debt issued, which are presented as separate sub-totals on the Group ’ s balance sheet. Derivative liabilities are generally presented as Derivative financial instruments , except those exchange-traded and OTC-cleared derivatives that are considered to be settled on a daily basis or qualify for netting and are presented within Cash collateral payables on derivative instruments. 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 as hedging ins truments are also measured at fair value. The presentation of fair value changes differs depending on the type of hedge relationship (refer to “ Note 1a ) Significant accounting policies ” item 3k in the “ Consolidated financial statements ” section of the Annu al Report 2017 for more information). Designated at FVTPL UBS designated at FVTPL 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 Certain payables under repurchase agreements and cash collateral on securities lending agreements that are managed in conjunction with associated reverse repurchase agreements and cash collateral on securities borr owed Loan commitments that are hedged predominantly with credit derivatives and those managed on a fair value basis Amounts due under unit-linked investment contracts whose cash flows are linked to financial assets measured at FVTPL and eliminate an accou nting mismatch Brokerage payables, which arise in conjunction with brokerage receivables and are measured at FVTPL to achieve measurement consistency. c. Interest income and expense Interest income and expense are recognized in the income statement applying the EIR method. In determining interest income and expense, the EIR is applied to the gross carrying amount of the financial asset (unless the asset is credit-impaired) or the amor tized cost of a financial liability, based on estimated future cash flows that take into account all contractual cash flows, except those related to ECL. However, when a financial asset becomes credit-impaired after initial recognition, interest income is determined by applying EIR to the amortized cost of the instrument. Furthermore, for financial assets that were credit-impaired on initial recognition, interest is determined by applying a credit-adjusted EIR to the amortized cost of the instrument. UBS also presents interest income and expense on financial instruments (excluding derivatives) measured at FVTPL separately from the rest of the fair value changes in the income statement. Interest income or expense on financial instruments measured at amortized cost and financial assets measured at FVOCI are presented separately within Interest income from financial instruments measured at amortized cost and fair value through other comprehensive income and Interest expense from financial instruments measured at amortized cost , with interest on financial instruments at FVTPL presented in Interest income (or expense) from financial instruments measured at fair value through profit or loss . A ll are part of Net interest income . Interest income from financial instruments measured at fair value through profit or loss includes forward points on certain short- and long-durat ion foreign exchange contracts and dividend income. Furthermore, interest income and expense on derivatives designated as hedging instruments in effective hedge relationships are presented consistently with the interest income and expense of the respective hedged item. Refer to “Note 1a) Significant Accounting Policies” in the “Consolidated financial Statements” section of the Annual Report 2017 for more information g. E xpected credit losses Expected credit losses (ECL) are recognized for financial assets measured at amortized cost, financial assets measured at FVOCI, fee and lease receivables, financial guarantees and loan commitments. ECL are also recognized on the undrawn portion of revolving revocable credit lines, which include UBS’s credit card limit s and master credit facilities, which are customary in the Swiss market for corporate and commercial clients. UBS refers to both as “other credit lines,” with clients allowed to draw down on-demand balances (with the Swiss master credit facilities also all owing for term products) and which can be terminated by UBS at any time. Though these other credit lines are revocable, UBS is exposed to credit risk because the client has the ability to draw down funds before UBS can take credit risk mitigation actions. Recognition of expected credit losses ECL represent the difference between contractual cash flows and those UBS expects to receive , discounted at the EIR. For loan commitments and other credit facilities in scope of ECL, expected cash shortfalls are det ermined by considering expected future draw downs. ECL are recognized on the following basis: M aximum 12-month ECL are recognized from initial recognition, reflecting the portion of lifetime cash shortfalls that would result if a default occurs in the 12 months after the reporting da te, weighted by the risk of a default occurring. I nstruments in this category are referred to as instruments in stage 1. For instruments with a remaining maturity of less than 12 months, ECL are determined for this shorter peri od. Lifetime ECL are recognized if a significant increase in credit risk (SICR) is detected subsequent to the instrument’s initial recognition, reflecting lifetime cash shortfalls that would result from all possible default events over the expected life of a financial instrument, weighted by the risk of a default occurring. Instruments in this category are referred to as instruments in stage 2. Where an SICR is no longer observed, the instrument will move back to stage 1. Lifetime ECL are always recognized for credit-impaired financial instruments, referred to as instruments in stage 3. The IFRS 9 determination of whether an instrument is credit-impaired is based on the occurrence of one or more loss events, with lifetime ECL generally derived by estimating expected cash flows based on a chosen recovery strategy with additional consideration given to forward-looking economic scenarios. 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. Changes in lifetime ECL since initial recognition are also recognized for assets that are purchased or originated credit-impaired financial assets (PO CI ) . POCI a re initially recognized at fair value with interest income subsequently being recognized based on a credit-adjusted EIR . POCI include financial instruments that are newly recognized following a substantial restructuring and remain a separate category until maturity. UBS does not apply the low-credit-risk practical expedient that allows a lifetime ECL for lease or fee receivables to be recognized irrespective of whether a significant increa se in credit risk has occurred. Instead, UBS has incorporated lease and fee receivables into the standard ECL calculation. A write-off is made when all or part of a financial asset i s 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 generally credited to C redit loss expense / recovery . Write-offs and partial write- off s represent derecognition / partial derecognition events. ECL are recognized in profit or loss with a corresponding ECL allowance reported as a decrease in the carrying value of financial asse ts measured at amortized cost on the balance sheet. For financial assets measured at fair value through OCI, the carrying value is not reduced, but an accumulated amount is recognized in OCI. For off-balance sheet financial instruments and other credit lin es, provisions for ECL are reported in Provisions . ECL are recognized within the income statement in Credit loss expense / recovery. Default and credit impairment The definition of default is based on quantitative and qualitative criteria. A counterparty is classified as defaulted at the latest when material payments of interest, principal or fees are overdue for more than 90 days, or more than 180 days for the Personal & Corporate Banking and Swiss wealth management portfolios. Counterparties are also cla ssified as defaulted when bankruptcy, insolvency proceedings or enforced liquidation have commenced, obligations have been restructured on preferential terms or there is other evidence that payment obligations will not be fully met without recourse to coll ateral. The latter may be the case even if, to date, all contractual payments have been made when due. If a counterparty is defaulted, generally all claims against the counterparty are treated as defaulted. An instrument is classified as credit-impaired if the counterparty is defaulted, and / or the instrument is POCI . An instrument is POCI if it has been purchased with a material discount to its carrying amount following a risk event of the issuer or originated with a defaulted counterparty. Once a financi al asset is classified as defaulted / credit-impaired (except POCIs), it remains as such unless all past due amounts have been rectified, additional payments have been made on time, the position is not classified as credit-restructured, and there is genera l evidence of credit recovery. A minimum period of three months is applied whereby most instruments remain in stage 3 for a longer period. Measurement of expected credit losses IFRS 9 ECL reflect an unbiased, probability-weighted estimate based on either loss expectations resulting from default events over a maximum 12-month period from the reporting date or over the remaining life of a financial instrument. The method used to calculate individual probability-weighted unbiased ECL is based on a combination of the following principal factors: probability of default (PD), loss given default (LGD) and exposure at default (EAD). PDs and LGDs used in the ECL calculation are point in time (PIT)-based for key portfolios and consider both current conditions and exp ected cyclical changes. For each instrument or group of instruments, parameter time series are generated consisting of the instruments’ PD, LGD and EAD profiles considering the respective period of exposure to credit risk. For the purpose of determining th e ECL - relevant parameters , UBS leverages its Pillar 1 internal ratings-based (IRB) models that are also used in determining expected loss (EL) and risk-weighted assets under the Basel III framework and Pillar 2 stress loss models. A djustments have been mad e to th ese models and new IFRS 9 - related models have been developed, which consider the complexity, structure and risk profile of relevant portfolios and take account of the fact that PDs and LGDs used in the EC L calculation are PIT-based as opposed to the corresponding Basel III through the cycle (TTC) parameters. The assignment of internal counterparty rating grades and the determination of default probabilities for the purposes of Basel III are not affected by the IFRS 9 ECL calculation. Probability of d efault (PD): The PD represents the likelihood of a default over a specified time period. A 12-month PD represents the likelihood of default determined for the next 12 months and a lifetime PD represents the probability of default over the remaining lifetim e of the instrument. The lifetime PD calculation is based on a series of 12-month P I T PDs that are derived from TTC PDs and scenario forecasts. This modeling is region - , industry - and client segment - specific and consider s both scenario - systematic and clien t - idiosyncratic information. To derive the cumulative lifetime PD per scenario, the series of 12-month P I T PDs are transformed into marginal P I T PDs taking any assumed default events from previous periods into account. Exposure at default (EAD): The EAD represents an estimate of the exposure to credit risk at the time of a potential default occurring during the life of a financial instrument. It represents the cash flows outstanding at the time of default, considering expected repayments, interes t payments and accruals, discounted at the EIR. Future drawdowns on facilities are considered through a credit conversion factor (CCF) that is reflective of historical drawdown and default patterns and the characteristics of the respective portfolios. IFRS 9-specific CCFs have been modeled to capture client segment- and product-specific patterns after removing Basel standard-specific limitations, i.e., conservativism and focus on a 12-month period prior to default. Loss given default (LGD): The LGD represen ts an estimate of the loss at the time of a potential default occurring during the life of a financial instrument. The determination of the LGD takes into account expected future cash flows from collateral and other credit enhancements, or expected payouts from bankruptcy proceedings for unsecured claims and, where applicable, time to realization of collateral and the seniority of claims. The LGD is commonly expressed as a percentage of the EAD. PD and LGD are determined for four different scenarios wherea s EAD projections are treated as scenario independent. Parameters are generally determined on an individual financial asset lev el. For credit card exposures in Switzerland, personal account overdrafts and certain loans to financial advisors, a portfolio ap proach is applied that derives an average PD and LGD for the entire portfolio. Scenarios and scenario weights The determination of the pr obability-weighted ECL requires evaluating a range of diverse and relevant future economic conditions. To accommodate this requirement, UBS uses four different economic scenarios in the ECL calculation: an upside, a baseline, a mild downside and a severe downside scenario. Each scenario is represented by a specific scenario narrative, which is relevant considering the ex posure of key portfolios to economic risks, and for which a set of consistent macroeconomic variables is determined . Those variables range from above-trend economic growth to severe recession. A weight is computed for each scenario by using a probabilistic econometric model that considers recent information as well as sever al decades of historical data. The determined weights con stitute the probabilities that the respective se t of macroeconomic conditions will occur. The scenarios, including the narratives, the macroeconomic and financial variables and the scenario weights , are further discussed, challenged and potentially refined by a team of UBS-internal experts. The baseline scenario is aligned to the economic and market assumptions used for UBS business planning purposes. Macroeconomic and other factors The range of macroeconomic, market and other factors that is modeled as part of the scenario determination is wide , and historical information is used to support the identification of the key factors. As t he forecast horizon increases, the availability of information decreases and judgment increases. For cycle-sensitive PD and LGD determination purposes, UBS projects the relevant economic factors for a period of three years before reverting, over a specifie d period, to a cycle-neutral PD and LGD for longer-term projections. Factors relevant for the ECL calculation vary by type of exposure and are determined during the credit cycle index model development process in close alignment with practitioner judgment . Certain variables may only be relevant for specific types of exposures, such as house price indices for mortgage loans, while other variables have key relevance in the ECL calculation for all exposures. Regional and client segment characteristics are gen erally taken into account, with specific focus on Switzerland and the US considering UBS’s key ECL-relevant portfolios. For UBS, the following forward-looking macroeconomic variables represent the most relevant factors in the ECL calculation: GDP growth r ates House price indices Unemployment rates Interest rates, specifically LIBOR and government bond yields Equity indices Consumer price indices The forward-looking macroeconomic assumptions used in the ECL calculation are developed by UBS economists, risk methodology personnel and credit risk officers . Assumptions and scenar ios are validated and approved through a scenario committee and an operating committee, which also aim to ensure a consistent use of forward-looking information throughout UBS, including in the business planning process. ECL inputs are tested and reassesse d for appropriateness at least each quarter and appropriate adjustments are made when needed. ECL measurement period The period for which lifetime ECL are determined is based on the maximum contractual period that UBS is exposed to credit risk, taking int o account contractual extension, termination and prepayment options. For irrevocable loan commitments and financial guarantee contracts, the measurement period represents the maximum contractual period for which UBS has |
Significant accounting polici29
Significant accounting policies (Policies) | 3 Months Ended |
Jun. 30, 2018 | |
Disclosure Significant Accounting Policies [Line Items] | |
Disclosure Of Basis Of Preparation Of Financial Statements Explanatory | 1.1 Basis of preparation The consolidated financial statements (the Financial Statements) of UBS Group AG and its subsidiaries (together “UBS” or “the Group”) are 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), whi ch is also the functional currency of UBS Group AG and UBS AG ’ s Head Office and its Swiss-based operations. 1 These interim Financial Statements are prepared in accordance with IAS 34, Interim Financial Reporting . In preparing these interim Financial Statem ents, the same accounting policies and methods of computation have been applied as in the UBS Group AG consolidated annual Financial Statements for the period ended 31 December 201 7 , except for the changes described in this note, in Note 19 of this report and in “Note 1 Basis of accounting” in the “Consolidated financial statements” section of the first quarter 2018 report . These interim Financial Statements are unaudited and should be read in conjunction with UBS Group AG’s audited consolidated Financial S tatements included in the Annual Report 201 7 . In the opinion of management, all necessary adjustments were made for a fair presentation of the Group’s financial position, results of operations and cash flows. Preparation of these interim Financial Stateme nts requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, income, expenses and disclosures of contingent assets and liabilities. These estimates and assumptions are based on the best available inform ation. Actual results in the future could differ from such estimates and such differences may be material to the Financial Statements. Revisions to estimates, based on regular reviews, are recognized in the period in which they occur. For more information on areas of estimation uncertainty considered to require critical judgment, refer to “Note 1a ) Significant accounting policies” in the “Consolidated financial statements” s ection of the Annual Report 2017 and in Note 19.1 of this report . 1 As explained in UBS ’ s Annual Report 2017, in light of cumulative changes in UBS ’ s legal structure, business activities and evolving changes to its structural currency management strategy, it is anticipated that during the second half of 2018 the functional currency of UBS Group AG and UBS AG’s Head Office in Switzerlan d may change from Swiss francs to US dollars, and the functional currency of UBS AG ’ s London Branch operations may change from British pounds to US dollars, where such changes would be made on a prospective basis. If such changes occur, we expect that mana gement would change the presentation currency of UBS Group AG ’ s consolidated and UBS AG ’ s consolidated financial statements from Swiss francs to US dollars to align to the change in functional currency, with prior periods restated. |
Disclosure Of Changes In Accounting Policies Accounting Estimates And Errors Explanatory | 1.3 New accounting standards and changes in accounting policies effective second quarter 2018 IFRS Interpretations Committee, Payments relating to taxes other than income tax During the second quarter of 2018, UBS refined its treatment of prepayment s or overpayments in relation to uncertain tax positions outside of the scope of IAS 12, Income Taxes , following the IFRS Interpretation Committee’s discussion on Payments relating to taxes other than income tax . More specifically, prepayments for uncertai n tax positions that have not yet given rise to a liability are recognized as assets because UBS will either receive a cash rebate or a benefit through the extinguishment of a future liability. Adoption of the change did not have a material effect on UBS’s financial statements. |
Segment reporting (Tables)
Segment reporting (Tables) | 3 Months Ended |
Jun. 30, 2018 | |
Disclosure Of Operating Segments [Line Items] | |
Disclosure Of Operating Segments Explanatory | Global Wealth Management Personal & Corporate Banking Asset Management Investment Bank Corporate Center UBS CHF million Services Group ALM Non-core and Legacy Portfolio For the six months ended 30 June 2018 1 Net interest income 1,998 989 (16) 290 (179) (368) 13 2,729 Non-interest income 6,264 897 907 4,413 37 (121) 180 12,577 Allocations from CC Group ALM 88 29 7 (204) 25 100 (44) 0 Income 8,350 1,915 899 4,499 (116) (389) 148 15,305 Credit loss (expense) / recovery 2 (35) 0 (21) 0 0 (1) (53) Total operating income 8,352 1,880 899 4,478 (116) (389) 147 15,252 Personnel expenses 3,766 398 356 1,667 1,847 18 19 8,073 General and administrative expenses 589 115 97 287 1,766 20 66 2,940 Services (to) / from CC and other BDs 1,805 573 237 1,357 (4,065) 1 91 0 of which: services from CC Services 1,755 615 258 1,313 (4,101) 81 79 0 Depreciation and impairment of property, equipment and software 2 6 1 4 542 0 0 556 Amortization and impairment of intangible assets 25 0 1 5 1 0 0 32 Total operating expenses 6,187 1,093 692 3,320 92 39 177 11,600 Operating profit / (loss) before tax 2,165 787 207 1,158 (207) (428) (30) 3,652 Tax expense / (benefit) 851 Net profit / (loss) 2,801 As of 30 June 2018 Total assets 197,729 135,929 27,570 262,221 20,944 261,308 38,781 944,482 For the six months ended 30 June 2017 1 Net interest income 1,764 940 (15) 452 (153) 115 10 3,113 Non-interest income 5,986 870 935 3,859 55 (5) 34 11,734 Allocations from CC Group ALM 190 103 9 (174) 60 (139) (50) 0 Income 7,940 1,914 929 4,137 (37) (30) (6) 14,847 Credit loss (expense) / recovery (2) (21) 0 (12) 0 0 (11) (46) Total operating income 7,938 1,893 929 4,124 (37) (30) (16) 14,801 Personnel expenses 3,758 437 357 1,591 1,888 17 25 8,074 General and administrative expenses 578 134 109 256 1,920 7 (12) 2,994 Services (to) / from CC and other BDs 1,757 542 247 1,335 (3,984) (13) 116 0 of which: services from CC Services 1,703 587 266 1,287 (4,006) 65 97 0 Depreciation and impairment of property, equipment and software 2 6 1 5 491 0 0 505 Amortization and impairment of intangible assets 23 0 2 6 6 0 0 37 Total operating expenses 6,119 1,119 716 3,194 321 12 129 11,609 Operating profit / (loss) before tax 1,819 774 213 931 (358) (41) (146) 3,192 Tax expense / (benefit) 701 Net profit / (loss) 2,490 As of 31 December 2017 Total assets 190,074 135,556 14,269 262,931 20,875 245,737 46,200 915,642 1 Prior period information may not be comparable as a result of the adoption of IFRS 9 and IFRS 15, both effective 1 January 2018. Refer to Note 1 for more information on these changes. |
Net fee and commission income (
Net fee and commission income (Tables) | 3 Months Ended |
Jun. 30, 2018 | |
Net fee And Commission Income [Line Items] | |
Disclosure Of Fee And Commission Income Expense Explanatory | Note 3 Net fee and commission income 1 For the quarter ended Year-to-date CHF million 30.6.18 31.3.18 30.6.17 30.6.18 30.6.17 Underwriting fees 183 224 274 407 552 of which: equity underwriting fees 88 118 148 206 310 of which: debt underwriting fees 95 106 125 201 242 M&A and corporate finance fees 178 194 170 372 347 Brokerage fees 877 968 945 1,845 1,967 Investment fund fees 1,213 1,207 1,046 2,420 2,107 Portfolio management and related services 1,902 1,837 1,852 3,739 3,646 Other 440 452 457 893 915 Total fee and commission income 2 4,793 4,882 4,744 9,675 9,533 of which: recurring 3,161 3,071 6,232 of which: transaction-based 1,611 1,793 3,404 of which: performance-based 22 17 39 Brokerage fees paid 75 85 179 160 344 Other 342 324 270 666 541 Total fee and commission expense 417 409 449 826 885 Net fee and commission income 4,377 4,473 4,295 8,850 8,648 of which: net brokerage fees 802 884 766 1,685 1,623 1 Upon adoption of IFRS 15, certain brokerage fees paid in an agency capacity have been reclassified from Fee and commission expense to Fee and commission income on a prospective basis from 1 January 2018, primarily relating to third-party execution costs for exchange-traded derivative transactions and fees payable to third-party research providers on behalf of clients. In addition to the IFRS 15 changes, certain revenues, primarily distribution fees and fund management fees, have been reclassified between reporting lines to better reflect the nature of the revenues, with prior period information restated accordingly. This resulted in the following impacts: for the quarter ended 30 June 2017, CHF 83 million was reclassified from Underwriting fees to Brokerage fees and CHF 255 million was reclassified from Portfolio management and related services to Investment fund fees. For the first six months of 2017, CHF 164 million was reclassified from total Underwriting fees to Brokerage fees and CHF 499 million was reclassified from Portfolio management and related services to Investment fund fees. Also, certain expenses that are incremental and incidental to revenues have been reclassified prospectively from General and administrative expenses to Fee and commission expense to improve the alignment of transaction-based costs with the associated revenue stream, primarily impacting clearing costs, client loyalty costs, fund and custody expenses. As the impact of this reclassification was not material, prior period information was not restated. 2 Reflects third-party fee and commission income for the second quarter of 2018 of CHF 2,832 million for Global Wealth Management (first quarter of 2018: CHF 2,891 million), CHF 301 million for Personal & Corporate Banking (first quarter of 2018: CHF 300 million), CHF 801 million for Asset Management (first quarter of 2018: CHF 777 million), CHF 857 million for the Investment Bank (first quarter of 2018: CHF 900 million) and CHF 3 million for Corporate Center (first quarter of 2018: CHF 14 million). |
Other income (Tables)
Other income (Tables) | 3 Months Ended |
Jun. 30, 2018 | |
Other Income [Line Items] | |
Disclosure Of Other Operating Income Explanatory | Note 4 Other income For the quarter ended Year-to-date CHF million 30.6.18 31.3.18 30.6.17 30.6.18 30.6.17 Associates, joint ventures and subsidiaries Net gains / (losses) from disposals of subsidiaries 1 (10) 0 (18) (10) (22) Share of net profits of associates and joint ventures 15 15 17 30 36 Total 5 15 (2) 20 14 Financial assets measured at fair value through other comprehensive income Net gains / (losses) from disposals 0 0 129 0 136 Impairments 0 0 1 0 (13) Total 0 0 131 0 123 Net gains / (losses) from disposals of financial assets measured at amortized cost (1) 0 (2) 0 16 Net income from properties (excluding net gains / (losses) from disposals) 2 6 6 6 12 12 Net gains / (losses) from disposals of properties held for sale 0 0 0 0 (1) Other 23 19 14 42 26 Total other income 34 40 147 74 190 1 Includes foreign exchange gains / (losses) reclassified from other comprehensive income related to disposed foreign subsidiaries and branches. 2 Includes net rent received from third parties and net operating expenses. |
Personnel expenses (Tables)
Personnel expenses (Tables) | 3 Months Ended |
Jun. 30, 2018 | |
Personnel Expenses [Line Items] | |
Disclosure Of Employee Benefits Explanatory | Note 5 Personnel expenses For the quarter ended Year-to-date CHF million 30.6.18 31.3.18 30.6.17 30.6.18 30.6.17 Salaries and variable compensation 2,430 2,585 2,428 5,014 4,871 Financial advisor variable compensation 1 996 974 992 1,970 1,979 Contractors 127 116 107 243 200 Social security 195 229 187 423 389 Pension and other post-employment benefit plans 169 (30) 2 169 138 2 369 Other personnel expenses 142 141 130 284 266 Total personnel expenses 4,059 4,014 4,014 8,073 8,074 1 Financial advisor variable compensation consists of grid-based compensation based directly on compensable revenues generated by financial advisors and supplemental compensation calculated on the basis of 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. 2 Changes to the Pension Fund of UBS in Switzerland in the first quarter of 2018 resulted in a reduction in the pension obligation recognized by UBS. As a consequence, a pre-tax gain of CHF 225 million was recognized in the income statement in the first quarter of 2018, with no overall effect on total equity. Refer to “Note 5 Personnel expenses” in the “Consolidated financial statements” section of the first quarter 2018 report for more information. |
General and administrative ex34
General and administrative expenses (Tables) | 3 Months Ended |
Jun. 30, 2018 | |
General And Administrative Expenses [Line Items] | |
Disclosure Of General And Administrative Expense Explanatory | Note 6 General and administrative expenses For the quarter ended Year-to-date CHF million 30.6.18 31.3.18 30.6.17 30.6.18 30.6.17 Occupancy 221 219 217 441 438 Rent and maintenance of IT and other equipment 148 150 135 299 279 Communication and market data services 154 152 148 306 304 Administration 71 135 102 207 201 of which: UK bank levy 1 (45) 0 (46) (45) (71) Marketing and public relations 84 80 93 164 186 Travel and entertainment 112 93 110 204 197 Professional fees 237 231 276 468 532 Outsourcing of IT and other services 347 340 362 687 745 Litigation, regulatory and similar matters 2 131 (11) 9 120 42 Other 10 34 35 44 69 Total general and administrative expenses 1,516 1,424 1,488 2,940 2,994 1 The credits presented for the periods shown are related to prior years. 2 Reflects the net increase / (decrease) in provisions for litigation, regulatory and similar matters recognized in the income statement. Refer to Note 15 for more information. Also includes recoveries from third parties (second quarter of 2018: CHF 10 million; first quarter of 2018: CHF 17 million; second quarter of 2017: CHF 1 million). |
Earnings per share and shares35
Earnings per share and shares outstanding (Tables) | 3 Months Ended |
Jun. 30, 2018 | |
Earnings Per Share And Shares Outstanding [Line Items] | |
Disclosure Of Earnings Per Share Explanatory | As of or for the quarter ended As of or year-to-date 30.6.18 31.3.18 30.6.17 30.6.18 30.6.17 Basic earnings (CHF million) Net profit / (loss) attributable to shareholders 1,284 1,514 1,174 2,798 2,443 Diluted earnings (CHF million) Net profit / (loss) attributable to shareholders 1,284 1,514 1,174 2,798 2,443 Less: (profit) / loss on own equity derivative contracts (1) (1) 0 (2) 0 Net profit / (loss) attributable to shareholders for diluted EPS 1,283 1,513 1,174 2,796 2,443 Weighted average shares outstanding Weighted average shares outstanding for basic EPS 1 3,750,246,679 3,728,701,542 3,715,138,875 3,739,474,111 3,714,042,783 Effect of dilutive potential shares resulting from notional shares, in-the-money options and warrants outstanding 99,757,026 128,521,488 110,988,858 114,179,416 117,296,611 Weighted average shares outstanding for diluted EPS 3,850,003,705 3,857,223,030 3,826,127,733 3,853,653,527 3,831,339,394 Earnings per share (CHF) Basic 0.34 0.41 0.32 0.75 0.66 Diluted 0.33 0.39 0.31 0.73 0.64 Shares outstanding Shares issued 3,854,589,552 3,854,297,125 3,851,805,058 Treasury shares 125,469,362 93,077,090 135,182,950 Shares outstanding 3,729,120,190 3,761,220,035 3,716,622,108 1 The weighted average shares outstanding for basic EPS are calculated by taking the number of shares at the beginning of the period, adjusted by the number of shares acquired or issued during the period, multiplied by a time-weighted factor for the period outstanding. As a result, balances are affected by the timing of acquisitions and issuances during the period. Number of shares 30.6.18 31.3.18 30.6.17 30.6.18 30.6.17 Potentially dilutive instruments Employee share-based compensation awards 6,592,571 7,283,110 30,018,635 6,592,571 30,018,635 Other equity derivative contracts 11,499,172 7,757,622 12,185,977 10,774,521 11,904,237 Total 18,091,743 15,040,732 42,204,612 17,367,092 41,922,872 |
Disclosure of potentially dilutive instruments [text block] | As of or for the quarter ended As of or year-to-date 30.6.18 31.3.18 30.6.17 30.6.18 30.6.17 Basic earnings (CHF million) Net profit / (loss) attributable to shareholders 1,284 1,514 1,174 2,798 2,443 Diluted earnings (CHF million) Net profit / (loss) attributable to shareholders 1,284 1,514 1,174 2,798 2,443 Less: (profit) / loss on own equity derivative contracts (1) (1) 0 (2) 0 Net profit / (loss) attributable to shareholders for diluted EPS 1,283 1,513 1,174 2,796 2,443 Weighted average shares outstanding Weighted average shares outstanding for basic EPS 1 3,750,246,679 3,728,701,542 3,715,138,875 3,739,474,111 3,714,042,783 Effect of dilutive potential shares resulting from notional shares, in-the-money options and warrants outstanding 99,757,026 128,521,488 110,988,858 114,179,416 117,296,611 Weighted average shares outstanding for diluted EPS 3,850,003,705 3,857,223,030 3,826,127,733 3,853,653,527 3,831,339,394 Earnings per share (CHF) Basic 0.34 0.41 0.32 0.75 0.66 Diluted 0.33 0.39 0.31 0.73 0.64 Shares outstanding Shares issued 3,854,589,552 3,854,297,125 3,851,805,058 Treasury shares 125,469,362 93,077,090 135,182,950 Shares outstanding 3,729,120,190 3,761,220,035 3,716,622,108 1 The weighted average shares outstanding for basic EPS are calculated by taking the number of shares at the beginning of the period, adjusted by the number of shares acquired or issued during the period, multiplied by a time-weighted factor for the period outstanding. As a result, balances are affected by the timing of acquisitions and issuances during the period. Number of shares 30.6.18 31.3.18 30.6.17 30.6.18 30.6.17 Potentially dilutive instruments Employee share-based compensation awards 6,592,571 7,283,110 30,018,635 6,592,571 30,018,635 Other equity derivative contracts 11,499,172 7,757,622 12,185,977 10,774,521 11,904,237 Total 18,091,743 15,040,732 42,204,612 17,367,092 41,922,872 |
Expected credit loss measurem36
Expected credit loss measurement (Tables) | 3 Months Ended |
Jun. 30, 2018 | |
Disclosure Of Financial Assets [Line Item] | |
Disclosure Of Provision Matrix Explanatory | Note 9 Expected credit loss measurement a) E xpected credit losses in the period Total net credit loss expenses amounted to CHF 28 million in the second quarter of 2018, reflecting expected credit losses (ECL) of CHF 2 1 million related to stage 1 and 2 positions and net losses of CHF 7 million related to credit impaired (stage 3) positions. Stage 1 and 2 ECL have been reco gnized in th e period, primarily arising from credit quality changes in Personal & Corporate Banking and, to a lesser extent, from new loans, facilities and other exposure movements across the Investment Bank, Personal & Corporate Banking and Global Wealth Management. Stage 3 net losses of CHF 7 million were recognized across a number of defaulted positions, predominantly in Personal & Corporate B anking. There have not been any material changes to the models used to calculate ECL and to determine stage allocation. As outlined in Note 19, UBS uses four different economic scenarios in the ECL calculation: an upside, a baseline, a mild downside and a severe downside scenario. The scenarios and scenario weights applied to calculate ECL as of 30 June 2018 were reviewed and remain unchanged from those applied as of 31 March 2018 and as of 1 January 2018, the date of transition to IFRS 9. Economic scenarios and weights applied ECL scenario Assigned weights in % (30.6.18 ) Upside 20.0 Baseline 42.5 Mild downside 30.0 Severe downside 7.5 Further, assumptions around the most important forward-looking economic factors for Switzerland, the US and other regions as applied in each of those economic scenarios to determine ECL at the reporting date have not changed from the date of transition to IFRS 9. The point-in-time probability of default values applied to the ECL calculation at the reporting date reflect, however, market data updates, such as house price and equity indices and foreign exchange rates. Details on assumptions applied around the most important forward-looking economic factors are discussed in Note 19. b) ECL - relevant balance sheet and off - balance sheet positions including ECL allowance s and provisions The table s on the following pages p rovide information on financial instruments and certain non-financial instruments that are s ubject to ECL. For amortized cost instruments, the net carrying value represents the maximum exposure to credit risk, taking into account the allowance for credit losses. F inancial assets measured at fair value through other comprehensive income (FVOCI) are also subject to ECL ; however, unlike amortized cost instruments, the allowance does not reduce the carry ing value of the se financial asset s . The carrying value of financial assets measured at FVOCI represents the maximum exposure to credit risk. Tables provided for 30 June 2018 and 31 March 2018 include additional det ail on certain segments that have not been provided for balances as of 1 January 2018. In a ddition to on-balance sheet financial assets, certain off-balance sheet and other credit lines are also subject to ECL. The maximum exposure to credit risk for off-balance sheet financial instruments is calculated based on notional amounts . UBS has established ECL disclosure segments or “ECL segments” to disaggregate portfolios based on shared risk characteristic s and on the same or similar rating methods applied. The key segments are presented in the table below. Segment Segment description Description of credit risk sensitivity Business division / Corpora te Center Private clients with mortgages Lending to private clients secured by owner-occupied real estate and personal account overdrafts of those clients S ensitive to the interest rate environment, employment status and influence from regional effects (e.g., property values) Personal & Corporate Banking Global Wealth Management Real estate financing Rental or income-producing real estate financing to corporate clients secured by real estate S ensitive to GDP development, the interest rate environment and regional effects (e.g., property values) Personal & Corporate Banking Global Wealth Management Large corporate clients Lending to large corporate and multinational clients Sensitive to GDP development, seasonality and business cycles and collateral values (diverse collateral including real estate and other collateral types) Personal & Corporate Banking Investment Bank SME clients Lending to small- and medium-sized corporate clients S ensitive to GDP development, the interest rate environment and , to some extent, seasonality and business cycles and collateral values (diverse collateral including real estate and other collateral types) Personal & Corporate Banking Financial intermediaries and hedge funds Financial institutions and pension funds, including exposures to broker-dealers and clearing houses Sensitive to GDP development, the interest rate environment, regulatory changes and political risk Personal & Corporate Banking Investment Bank Corporate Center Lombard Loans secured by pledges of marketable securities, guarantees and other forms of collateral S ensitive to the market (e.g., changes in collateral, as well as in invested assets) Personal & Corporate Banking Global Wealth Management Credit cards Credit card solutions in Switzerland and the US Sensitive to the interest rate environment and employment status Personal & Corporate Banking Global Wealth Management Commodity trade finance Working capital financing of commodity traders, generally extended on a self-liquidating transactional basis Sensitive primarily to the strength of individual transaction structures and collateral values (price volatility of commodities) as the primary source for debt service is directly linked to the shipments financed Personal & Corporate Banking Leasing (finance lease receivables) Financing of private aircraft Financing of investment goods Sensitive to changes in collateral values Sensitive to GDP development, the interest rate environment, seasonality and business cycles and collateral values Personal & Corporate Banking CHF million 30.6.18 Carrying amount ECL allowance Financial instruments measured at amortized cost Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Cash and balances at central banks 102,262 102,262 0 0 0 0 0 0 Loans and advances to banks 15,577 15,569 8 0 (4) (2) 0 (2) Receivables from securities financing transactions 76,450 76,450 0 0 (2) (2) 0 0 Cash collateral receivables on derivative instruments 24,937 24,937 0 0 0 0 0 0 Loans and advances to customers 318,278 293,041 23,612 1,625 (847) (53) (174) (620) of which: Private clients with mortgage 121,858 108,533 12,498 826 (122) (9) (79) (34) of which: Real estate financing 35,659 26,826 8,795 39 (60) (3) (49) (8) of which: Large corporate clients 10,486 9,841 555 91 (82) (5) (9) (68) of which: SME clients 9,920 8,055 1,284 581 (292) (8) (25) (258) of which: Lombard 116,795 116,779 0 16 (90) (4) 0 (86) of which: Credit cards 1,406 1,123 268 14 (37) (6) (11) (20) of which: Commodity trade finance 3,075 3,049 13 13 (88) (4) 0 (84) Other financial assets measured at amortized cost 20,996 20,188 292 516 (168) (39) (6) (123) of which: Loans to financial advisors 3,394 3,139 85 171 (124) (32) (2) (90) Total financial assets measured at amortized cost 1 558,500 532,447 23,912 2,141 (1,022) (97) (179) (746) Financial assets measured at fair value through other comprehensive income 6,941 6,941 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 565,441 539,388 23,912 2,141 (1,022) (97) (179) (746) Total exposure ECL provision Off-balance sheet (in scope of ECL) Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Guarantees 18,529 17,826 506 197 (34) (7) (1) (26) of which: Large corporate clients 3,818 3,462 218 138 (7) (1) 0 (5) of which: SME clients 1,262 996 221 45 (16) 0 (1) (15) of which: Financial intermediaries and hedge funds 7,473 7,464 9 0 (4) (4) 0 0 of which: Lombard 2,493 2,493 0 0 0 0 0 0 of which: Commodity trade finance 2,398 2,342 43 13 (4) (1) 0 (3) Irrevocable loan commitments 31,009 30,407 563 38 (42) (34) (8) 0 of which: Large corporate clients 21,914 21,342 550 22 (34) (27) (7) 0 Forward starting reverse repurchase and securities borrowing agreements 1,545 1,545 0 0 0 0 0 0 Committed unconditionally revocable credit lines 34,129 33,011 1,053 65 (33) (21) (13) 0 of which: Real estate financing 2,676 2,404 272 0 (16) (8) (8) 0 of which: Large corporate clients 4,065 4,000 65 0 (1) (1) 0 0 of which: SME clients 4,407 3,961 390 57 (8) (5) (2) 0 of which: Lombard 6,231 6,231 0 0 0 0 0 0 of which: Credit cards 6,980 6,712 267 0 (5) (3) (1) 0 of which: Commodity trade finance 2,707 2,703 0 5 (1) (1) 0 0 Irrevocable committed prolongation of existing loans 2,760 2,741 19 0 (1) (1) 0 0 Total off-balance sheet financial instruments and other credit lines 87,972 85,531 2,142 300 (111) (62) (23) (26) Total allowances and provisions (1,133) (159) (202) (772) 1 The carrying value of financial assets at amortized cost is net of the respective ECL allowances. CHF million 31.3.18 Carrying amount ECL allowance Financial instruments measured at amortized cost Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Cash and balances at central banks 92,800 92,800 0 0 0 0 0 0 Loans and advances to banks 13,338 13,300 38 0 (5) (3) 0 (2) Receivables from securities financing transactions 77,016 77,016 0 0 (2) (2) 0 0 Cash collateral receivables on derivative instruments 24,271 24,271 0 0 0 0 0 0 Loans and advances to customers 316,195 287,107 27,543 1,545 (838) (54) (162) (622) of which: Private clients with mortgage 120,535 104,614 15,149 772 (127) (11) (71) (44) of which: Real estate financing 36,003 26,415 9,553 36 (62) (3) (51) (8) of which: Large corporate clients 11,610 10,828 684 97 (62) (7) (2) (54) of which: SME clients 10,072 7,893 1,629 550 (281) (9) (24) (248) of which: Lombard 114,436 114,423 0 13 (86) (4) 0 (82) of which: Credit cards 1,334 1,069 252 14 (34) (5) (9) (19) of which: Commodity trade finance 3,008 2,942 61 5 (92) (4) (4) (85) Other financial assets measured at amortized cost 19,129 18,371 271 488 (146) (35) (5) (106) of which: Loans to financial advisors 3,326 3,104 74 149 (115) (28) (2) (85) Total financial assets measured at amortized cost 1 542,749 512,865 27,851 2,033 (992) (94) (168) (730) Financial assets measured at fair value through other comprehensive income 6,758 6,758 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 549,507 519,623 27,851 2,033 (992) (94) (168) (730) Total exposure ECL provision Off-balance sheet (in scope of ECL) Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Guarantees 17,404 16,624 577 203 (40) (7) (2) (31) of which: Large corporate clients 3,775 3,380 249 146 (10) (1) 0 (9) of which: SME clients 1,313 1,029 235 50 (16) 0 (1) (15) of which: Financial intermediaries and hedge funds 5,740 5,694 47 0 (3) (3) 0 0 of which: Lombard 2,537 2,537 0 0 0 0 0 0 of which: Commodity trade finance 1,783 1,752 24 7 (4) (1) 0 (3) Irrevocable loan commitments 29,746 29,181 547 18 (32) (24) (7) (1) of which: Large corporate clients 22,234 21,693 535 7 (26) (20) (5) (1) Forward starting reverse repurchase and securities borrowing agreements 1,231 1,231 0 0 0 0 0 0 Committed unconditionally revocable credit lines 35,892 33,937 1,879 75 (34) (17) (17) 0 of which: Real estate financing 2,942 2,134 808 0 (12) (2) (9) 0 of which: Large corporate clients 4,804 4,700 99 5 0 0 0 0 of which: SME clients 4,617 4,065 496 56 (7) (4) (3) 0 of which: Lombard 5,960 5,960 0 0 0 0 0 0 of which: Credit cards 6,879 6,609 269 0 (5) (4) (1) 0 of which: Commodity trade finance 3,413 3,307 92 14 (2) (1) (1) 0 Irrevocable committed prolongation of existing loans 1,912 1,912 0 0 (1) (1) 0 0 Total off-balance sheet financial instruments and other credit lines 86,184 82,885 3,003 296 (106) (49) (26) (32) Total allowances and provisions (1,098) (143) (194) (762) 1 The carrying value of financial assets at amortized cost is net of the respective ECL allowances. CHF million 1.1.18 Carrying amount ECL allowance Financial instruments measured at amortized cost Total Stage 1 Stage 2 Stage 3 2 Total Stage 1 Stage 2 Stage 3 Cash and balances at central banks 87,775 87,775 0 0 0 0 0 0 Loans and advances to banks 13,719 13,701 18 0 (5) (2) 0 (3) Receivables from securities financing transactions 84,674 84,674 0 0 (2) (2) 0 0 Cash collateral receivables on derivative instruments 23,434 23,434 0 0 0 0 0 0 Loans and advances to customers 310,451 281,149 27,812 1,491 (867) (61) (163) (644) of which: Private clients with mortgage 119,560 103,867 15,006 686 (124) (12) (69) (44) of which: Real estate financing 35,896 26,210 9,657 29 (62) (3) (53) (6) of which: Large corporate clients 11,004 10,358 557 88 (69) (6) 0 (63) of which: SME clients 10,322 8,218 1,518 585 (287) (8) (23) (256) of which: Lombard 111,748 111,731 0 17 (84) (5) 0 (79) Other financial assets measured at amortized cost 18,302 17,805 32 465 (136) (29) (1) (106) of which: Loans to financial advisors 3,086 2,874 32 179 (115) (28) (1) (87) Total financial assets measured at amortized cost 1 538,354 508,538 27,862 1,956 (1,011) (95) (164) (752) Financial assets measured at fair value through other comprehensive income 6,755 6,755 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 545,110 515,293 27,862 1,956 (1,011) (95) (164) (752) Total exposure ECL provision Off-balance sheet (in scope of ECL) Total Stage 1 Stage 2 Stage 3 2 Total Stage 1 Stage 2 Stage 3 Guarantees 17,152 16,331 633 189 (37) (6) (2) (29) Irrevocable loan commitments 30,852 30,153 662 37 (36) (24) (8) (4) of which: Large corporate clients 21,999 21,344 629 26 (27) (19) (4) (4) Forward starting reverse repurchase and securities borrowing agreements 1,216 1,216 0 0 0 0 0 0 Committed unconditionally revocable credit lines 36,690 34,471 2,157 62 (34) (19) (15) 0 of which: Real estate financing 3,103 2,097 1,007 0 (9) (2) (7) 0 of which: SME clients 4,770 4,311 406 53 (7) (5) (2) 0 Irrevocable committed prolongation of existing loans 1,635 1,634 0 1 0 0 0 0 Total off-balance sheet financial instruments and other credit lines 87,545 83,805 3,452 288 (107) (49) (24) (33) Total allowances and provisions (1,117) (144) (188) (785) 1 The carrying value of financial assets at amortized cost is net of the respective ECL allowances. 2 Upon adoption of IFRS 9 as of 1 January 2018, an instrument is classified as credit-impaired if the counterparty is defaulted, and / or the instrument is purchased or originated credit-impaired and includes credit impaired exposures for which no loss has occurred, or for which no allowance has been recognized (e.g., because they are expected to be fully recoverable through the collateral held). Refer to Note 19 for more information on the adoption of IFRS 9. |
Disclosure Of Credit Risk Exposure Explanatory | CHF million 30.6.18 Carrying amount ECL allowance Financial instruments measured at amortized cost Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Cash and balances at central banks 102,262 102,262 0 0 0 0 0 0 Loans and advances to banks 15,577 15,569 8 0 (4) (2) 0 (2) Receivables from securities financing transactions 76,450 76,450 0 0 (2) (2) 0 0 Cash collateral receivables on derivative instruments 24,937 24,937 0 0 0 0 0 0 Loans and advances to customers 318,278 293,041 23,612 1,625 (847) (53) (174) (620) of which: Private clients with mortgage 121,858 108,533 12,498 826 (122) (9) (79) (34) of which: Real estate financing 35,659 26,826 8,795 39 (60) (3) (49) (8) of which: Large corporate clients 10,486 9,841 555 91 (82) (5) (9) (68) of which: SME clients 9,920 8,055 1,284 581 (292) (8) (25) (258) of which: Lombard 116,795 116,779 0 16 (90) (4) 0 (86) of which: Credit cards 1,406 1,123 268 14 (37) (6) (11) (20) of which: Commodity trade finance 3,075 3,049 13 13 (88) (4) 0 (84) Other financial assets measured at amortized cost 20,996 20,188 292 516 (168) (39) (6) (123) of which: Loans to financial advisors 3,394 3,139 85 171 (124) (32) (2) (90) Total financial assets measured at amortized cost 1 558,500 532,447 23,912 2,141 (1,022) (97) (179) (746) Financial assets measured at fair value through other comprehensive income 6,941 6,941 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 565,441 539,388 23,912 2,141 (1,022) (97) (179) (746) Total exposure ECL provision Off-balance sheet (in scope of ECL) Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Guarantees 18,529 17,826 506 197 (34) (7) (1) (26) of which: Large corporate clients 3,818 3,462 218 138 (7) (1) 0 (5) of which: SME clients 1,262 996 221 45 (16) 0 (1) (15) of which: Financial intermediaries and hedge funds 7,473 7,464 9 0 (4) (4) 0 0 of which: Lombard 2,493 2,493 0 0 0 0 0 0 of which: Commodity trade finance 2,398 2,342 43 13 (4) (1) 0 (3) Irrevocable loan commitments 31,009 30,407 563 38 (42) (34) (8) 0 of which: Large corporate clients 21,914 21,342 550 22 (34) (27) (7) 0 Forward starting reverse repurchase and securities borrowing agreements 1,545 1,545 0 0 0 0 0 0 Committed unconditionally revocable credit lines 34,129 33,011 1,053 65 (33) (21) (13) 0 of which: Real estate financing 2,676 2,404 272 0 (16) (8) (8) 0 of which: Large corporate clients 4,065 4,000 65 0 (1) (1) 0 0 of which: SME clients 4,407 3,961 390 57 (8) (5) (2) 0 of which: Lombard 6,231 6,231 0 0 0 0 0 0 of which: Credit cards 6,980 6,712 267 0 (5) (3) (1) 0 of which: Commodity trade finance 2,707 2,703 0 5 (1) (1) 0 0 Irrevocable committed prolongation of existing loans 2,760 2,741 19 0 (1) (1) 0 0 Total off-balance sheet financial instruments and other credit lines 87,972 85,531 2,142 300 (111) (62) (23) (26) Total allowances and provisions (1,133) (159) (202) (772) 1 The carrying value of financial assets at amortized cost is net of the respective ECL allowances. CHF million 31.3.18 Carrying amount ECL allowance Financial instruments measured at amortized cost Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Cash and balances at central banks 92,800 92,800 0 0 0 0 0 0 Loans and advances to banks 13,338 13,300 38 0 (5) (3) 0 (2) Receivables from securities financing transactions 77,016 77,016 0 0 (2) (2) 0 0 Cash collateral receivables on derivative instruments 24,271 24,271 0 0 0 0 0 0 Loans and advances to customers 316,195 287,107 27,543 1,545 (838) (54) (162) (622) of which: Private clients with mortgage 120,535 104,614 15,149 772 (127) (11) (71) (44) of which: Real estate financing 36,003 26,415 9,553 36 (62) (3) (51) (8) of which: Large corporate clients 11,610 10,828 684 97 (62) (7) (2) (54) of which: SME clients 10,072 7,893 1,629 550 (281) (9) (24) (248) of which: Lombard 114,436 114,423 0 13 (86) (4) 0 (82) of which: Credit cards 1,334 1,069 252 14 (34) (5) (9) (19) of which: Commodity trade finance 3,008 2,942 61 5 (92) (4) (4) (85) Other financial assets measured at amortized cost 19,129 18,371 271 488 (146) (35) (5) (106) of which: Loans to financial advisors 3,326 3,104 74 149 (115) (28) (2) (85) Total financial assets measured at amortized cost 1 542,749 512,865 27,851 2,033 (992) (94) (168) (730) Financial assets measured at fair value through other comprehensive income 6,758 6,758 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 549,507 519,623 27,851 2,033 (992) (94) (168) (730) Total exposure ECL provision Off-balance sheet (in scope of ECL) Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Guarantees 17,404 16,624 577 203 (40) (7) (2) (31) of which: Large corporate clients 3,775 3,380 249 146 (10) (1) 0 (9) of which: SME clients 1,313 1,029 235 50 (16) 0 (1) (15) of which: Financial intermediaries and hedge funds 5,740 5,694 47 0 (3) (3) 0 0 of which: Lombard 2,537 2,537 0 0 0 0 0 0 of which: Commodity trade finance 1,783 1,752 24 7 (4) (1) 0 (3) Irrevocable loan commitments 29,746 29,181 547 18 (32) (24) (7) (1) of which: Large corporate clients 22,234 21,693 535 7 (26) (20) (5) (1) Forward starting reverse repurchase and securities borrowing agreements 1,231 1,231 0 0 0 0 0 0 Committed unconditionally revocable credit lines 35,892 33,937 1,879 75 (34) (17) (17) 0 of which: Real estate financing 2,942 2,134 808 0 (12) (2) (9) 0 of which: Large corporate clients 4,804 4,700 99 5 0 0 0 0 of which: SME clients 4,617 4,065 496 56 (7) (4) (3) 0 of which: Lombard 5,960 5,960 0 0 0 0 0 0 of which: Credit cards 6,879 6,609 269 0 (5) (4) (1) 0 of which: Commodity trade finance 3,413 3,307 92 14 (2) (1) (1) 0 Irrevocable committed prolongation of existing loans 1,912 1,912 0 0 (1) (1) 0 0 Total off-balance sheet financial instruments and other credit lines 86,184 82,885 3,003 296 (106) (49) (26) (32) Total allowances and provisions (1,098) (143) (194) (762) 1 The carrying value of financial assets at amortized cost is net of the respective ECL allowances. CHF million 1.1.18 Carrying amount ECL allowance Financial instruments measured at amortized cost Total Stage 1 Stage 2 Stage 3 2 Total Stage 1 Stage 2 Stage 3 Cash and balances at central banks 87,775 87,775 0 0 0 0 0 0 Loans and advances to banks 13,719 13,701 18 0 (5) (2) 0 (3) Receivables from securities financing transactions 84,674 84,674 0 0 (2) (2) 0 0 Cash collateral receivables on derivative instruments 23,434 23,434 0 0 0 0 0 0 Loans and advances to customers 310,451 281,149 27,812 1,491 (867) (61) (163) (644) of which: Private clients with mortgage 119,560 103,867 15,006 686 (124) (12) (69) (44) of which: Real estate financing 35,896 26,210 9,657 29 (62) (3) (53) (6) of which: Large corporate clients 11,004 10,358 557 88 (69) (6) 0 (63) of which: SME clients 10,322 8,218 1,518 585 (287) (8) (23) (256) of which: Lombard 111,748 111,731 0 17 (84) (5) 0 (79) Other financial assets measured at amortized cost 18,302 17,805 32 465 (136) (29) (1) (106) of which: Loans to financial advisors 3,086 2,874 32 179 (115) (28) (1) (87) Total financial assets measured at amortized cost 1 538,354 508,538 27,862 1,956 (1,011) (95) (164) (752) Financial assets measured at fair value through other comprehensive income 6,755 6,755 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 545,110 515,293 27,862 1,956 (1,011) (95) (164) (752) Total exposure ECL provision Off-balance sheet (in scope of ECL) Total Stage 1 Stage 2 Stage 3 2 Total Stage 1 Stage 2 Stage 3 Guarantees 17,152 16,331 633 189 (37) (6) (2) (29) Irrevocable loan commitments 30,852 30,153 662 37 (36) (24) (8) (4) of which: Large corporate clients 21,999 21,344 629 26 (27) (19) (4) (4) Forward starting reverse repurchase and securities borrowing agreements 1,216 1,216 0 0 0 0 0 0 Committed unconditionally revocable credit lines 36,690 34,471 2,157 62 (34) (19) (15) 0 of which: Real estate financing 3,103 2,097 1,007 0 (9) (2) (7) 0 of which: SME clients 4,770 4,311 406 53 (7) (5) (2) 0 Irrevocable committed prolongation of existing loans 1,635 1,634 0 1 0 0 0 0 Total off-balance sheet financial instruments and other credit lines 87,545 83,805 3,452 288 (107) (49) (24) (33) Total allowances and provisions (1,117) (144) (188) (785) 1 The carrying value of financial assets at amortized cost is net of the respective ECL allowances. 2 Upon adoption of IFRS 9 as of 1 January 2018, an instrument is classified as credit-impaired if the counterparty is defaulted, and / or the instrument is purchased or originated credit-impaired and includes credit impaired exposures for which no loss has occurred, or for which no allowance has been recognized (e.g., because they are expected to be fully recoverable through the collateral held). Refer to Note 19 for more information on the adoption of IFRS 9. |
Fair value measurement (Tables)
Fair value measurement (Tables) | 3 Months Ended |
Jun. 30, 2018 | |
Fair ValueMeasurement [Line Items] | |
Disclosure Of Fair Value Measurement Of Assets Explanatory | Determination of fair values from quoted market prices or valuation techniques 1 30.6.18 31.3.18 31.12.17 CHF million Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Financial assets measured at fair value on a recurring basis Financial assets at fair value held for trading 96,129 12,729 3,263 112,121 89,273 14,344 1,937 105,554 108,962 15,211 1,972 126,144 of which: Government bills / bonds 10,650 877 0 11,527 13,769 1,115 0 14,885 11,935 918 0 12,854 Corporate and municipal bonds 550 7,463 627 8,640 342 8,157 233 8,731 37 7,974 552 8,563 Loans 0 2,096 1,733 3,829 0 3,005 606 3,611 0 3,346 501 3,847 Investment fund units 8,716 1,974 540 11,230 6,951 1,560 704 9,215 7,223 1,839 571 9,632 Asset-backed securities 0 110 157 266 0 169 157 326 0 194 174 368 Equity instruments 76,214 210 188 76,612 68,211 338 237 68,787 79,274 186 105 79,565 Financial assets for unit-linked investment contracts 2 10,492 755 69 11,316 Derivative financial instruments 878 119,245 1,481 121,604 853 111,135 1,344 113,333 458 116,221 1,549 118,227 of which: Interest rate contracts 0 38,555 226 38,782 8 41,153 35 41,196 1 43,913 135 44,049 Credit derivative contracts 0 1,674 452 2,127 0 1,894 458 2,352 0 2,266 550 2,816 Foreign exchange contracts 563 52,941 186 53,690 385 42,025 239 42,649 207 46,748 189 47,143 Equity / index contracts 7 24,320 612 24,939 21 24,374 608 25,002 16 21,541 675 22,232 Commodity contracts 0 1,564 0 1,564 0 1,379 0 1,379 0 1,727 0 1,727 Brokerage receivables 3 0 18,415 0 18,415 0 20,250 0 20,250 Financial assets at fair value not held for trading 42,929 45,518 4,769 93,217 44,989 47,876 4,667 97,532 23,032 34,481 1,419 58,933 of which: Government bills / bonds 21,853 3,452 0 25,305 24,255 3,646 0 27,901 22,062 3,900 0 25,961 Corporate and municipal bonds 958 21,849 0 22,807 760 23,265 0 24,025 765 20,702 0 21,467 Financial assets for unit-linked investment contracts 2 19,824 4,735 8 24,568 19,655 4,528 0 24,183 Loans (including structured loans) 0 7,394 1,904 9,298 0 8,353 1,924 10,277 0 9,385 758 10,143 Structured securities financing transactions 4 0 7,556 65 7,622 0 7,621 140 7,760 0 118 173 291 Auction-rate securities 3 0 0 1,832 1,832 0 0 1,713 1,713 Investment fund units 194 458 118 770 167 415 107 689 205 377 0 582 Equity instruments 5 101 16 484 602 151 47 369 567 Other 0 57 357 414 0 1 413 415 0 0 489 489 Financial assets measured at fair value through other comprehensive income on a recurring basis Financial assets measured at fair value through other comprehensive income 2,608 4,333 0 6,941 2,560 4,197 0 6,758 3,000 5,157 507 8,665 of which: Government bills / bonds 2,563 111 0 2,675 2,515 118 0 2,634 2,733 133 0 2,866 Corporate and municipal bonds 44 390 0 434 45 428 0 473 121 1,060 9 1,189 Asset-backed securities 0 3,832 0 3,832 0 3,651 0 3,651 0 3,880 0 3,880 Other 5 0 0 0 0 0 0 0 0 146 85 499 730 Non-financial assets measured at fair value on a recurring basis Other non-financial assets Precious metals and other physical commodities 3,975 0 0 3,975 4,032 0 0 4,032 4,563 0 0 4,563 Non-financial assets measured at fair value on a non-recurring basis Other non-financial assets 6 0 57 9 65 0 58 9 67 0 54 42 95 Total assets measured at fair value 146,519 200,297 9,522 356,338 141,707 197,861 7,957 347,525 140,015 171,125 5,489 316,629 Determination of fair values from quoted market prices or valuation techniques (continued) 1 30.6.18 31.3.18 31.12.17 CHF million Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Financial liabilities measured at fair value on a recurring basis Financial liabilities at fair value held for trading 26,211 5,117 88 31,416 29,657 4,999 91 34,747 26,037 4,309 117 30,463 of which: Government bills / bonds 4,386 299 0 4,685 7,574 398 0 7,972 5,153 256 0 5,409 Corporate and municipal bonds 138 4,113 34 4,285 11 4,133 31 4,176 50 3,453 35 3,538 Investment fund units 785 214 2 1,002 291 67 4 362 541 263 16 820 Equity instruments 20,901 488 52 21,440 21,781 392 56 22,229 20,293 336 66 20,695 Derivative financial instruments 875 115,954 2,394 119,223 837 108,437 2,671 111,945 398 112,928 2,807 116,133 of which: Interest rate contracts 6 33,738 285 34,030 12 36,125 212 36,349 5 38,196 186 38,387 Credit derivative contracts 0 2,620 613 3,233 0 2,777 629 3,407 0 3,196 601 3,797 Foreign exchange contracts 585 52,921 115 53,620 343 41,891 118 42,353 213 45,150 122 45,485 Equity / index contracts 2 25,122 1,369 26,493 6 26,131 1,708 27,845 42 24,803 1,896 26,741 Commodity contracts 0 1,365 1 1,366 0 1,227 1 1,227 0 1,561 1 1,562 Financial liabilities designated at fair value on a recurring basis Brokerage payables designated at fair value 3 0 37,904 0 37,904 0 34,793 0 34,793 Debt issued designated at fair value 0 46,683 10,166 56,849 0 40,213 11,846 52,059 0 38,617 10,885 49,502 Other financial liabilities designated at fair value 2 36,252 1,089 37,342 2 33,061 1,375 34,438 0 14,282 1,941 16,223 of which: Amounts due under unit-linked investment contracts 0 24,913 0 24,913 0 24,348 0 24,348 0 11,523 0 11,523 Structured securities financing transactions 4 0 6,533 0 6,533 0 5,812 1 5,812 0 372 4 376 Over-the-counter debt instruments 2 4,801 1,085 5,888 2 2,898 1,371 4,270 0 2,385 1,930 4,315 Non-financial liabilities measured at fair value on a non-recurring basis Other non-financial liabilities 0 0 0 0 0 0 0 0 0 1 0 1 Total liabilities measured at fair value 27,087 241,910 13,737 282,734 30,495 221,504 15,984 267,983 26,435 170,138 15,750 212,323 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 for unit-linked investment contracts were reclassified from Financial assets at fair value held for trading to Financial assets at fair value not held for trading as of 1 January 2018. Refer to Note 19 for more information. 3 Comparative period information is not disclosed for financial assets and liabilities that were measured at amortized cost prior to the adoption of IFRS 9 on 1 January 2018. Refer to Note 19 for more information. 4 The increases in Structured securities financing transactions from 31 December 2017 to 31 March 2018 primarily relate to the reclassification of certain balances from amortized cost to fair value through profit or loss upon adoption of IFRS 9 on 1 January 2018. Refer to Note 19 for more information. 5 Upon adoption of IFRS 9 on 1 January 2018, equity instruments that were formerly classified as available for sale under IAS 39 were reclassified to Financial assets at fair value not held for trading. Refer to Note 19 for more information. 6 Other non-financial assets primarily consist of properties and other non-current assets 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 30.6.18 31.3.18 31.12.17 CHF million Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Financial assets measured at fair value on a recurring basis Financial assets at fair value held for trading 96,129 12,729 3,263 112,121 89,273 14,344 1,937 105,554 108,962 15,211 1,972 126,144 of which: Government bills / bonds 10,650 877 0 11,527 13,769 1,115 0 14,885 11,935 918 0 12,854 Corporate and municipal bonds 550 7,463 627 8,640 342 8,157 233 8,731 37 7,974 552 8,563 Loans 0 2,096 1,733 3,829 0 3,005 606 3,611 0 3,346 501 3,847 Investment fund units 8,716 1,974 540 11,230 6,951 1,560 704 9,215 7,223 1,839 571 9,632 Asset-backed securities 0 110 157 266 0 169 157 326 0 194 174 368 Equity instruments 76,214 210 188 76,612 68,211 338 237 68,787 79,274 186 105 79,565 Financial assets for unit-linked investment contracts 2 10,492 755 69 11,316 Derivative financial instruments 878 119,245 1,481 121,604 853 111,135 1,344 113,333 458 116,221 1,549 118,227 of which: Interest rate contracts 0 38,555 226 38,782 8 41,153 35 41,196 1 43,913 135 44,049 Credit derivative contracts 0 1,674 452 2,127 0 1,894 458 2,352 0 2,266 550 2,816 Foreign exchange contracts 563 52,941 186 53,690 385 42,025 239 42,649 207 46,748 189 47,143 Equity / index contracts 7 24,320 612 24,939 21 24,374 608 25,002 16 21,541 675 22,232 Commodity contracts 0 1,564 0 1,564 0 1,379 0 1,379 0 1,727 0 1,727 Brokerage receivables 3 0 18,415 0 18,415 0 20,250 0 20,250 Financial assets at fair value not held for trading 42,929 45,518 4,769 93,217 44,989 47,876 4,667 97,532 23,032 34,481 1,419 58,933 of which: Government bills / bonds 21,853 3,452 0 25,305 24,255 3,646 0 27,901 22,062 3,900 0 25,961 Corporate and municipal bonds 958 21,849 0 22,807 760 23,265 0 24,025 765 20,702 0 21,467 Financial assets for unit-linked investment contracts 2 19,824 4,735 8 24,568 19,655 4,528 0 24,183 Loans (including structured loans) 0 7,394 1,904 9,298 0 8,353 1,924 10,277 0 9,385 758 10,143 Structured securities financing transactions 4 0 7,556 65 7,622 0 7,621 140 7,760 0 118 173 291 Auction-rate securities 3 0 0 1,832 1,832 0 0 1,713 1,713 Investment fund units 194 458 118 770 167 415 107 689 205 377 0 582 Equity instruments 5 101 16 484 602 151 47 369 567 Other 0 57 357 414 0 1 413 415 0 0 489 489 Financial assets measured at fair value through other comprehensive income on a recurring basis Financial assets measured at fair value through other comprehensive income 2,608 4,333 0 6,941 2,560 4,197 0 6,758 3,000 5,157 507 8,665 of which: Government bills / bonds 2,563 111 0 2,675 2,515 118 0 2,634 2,733 133 0 2,866 Corporate and municipal bonds 44 390 0 434 45 428 0 473 121 1,060 9 1,189 Asset-backed securities 0 3,832 0 3,832 0 3,651 0 3,651 0 3,880 0 3,880 Other 5 0 0 0 0 0 0 0 0 146 85 499 730 Non-financial assets measured at fair value on a recurring basis Other non-financial assets Precious metals and other physical commodities 3,975 0 0 3,975 4,032 0 0 4,032 4,563 0 0 4,563 Non-financial assets measured at fair value on a non-recurring basis Other non-financial assets 6 0 57 9 65 0 58 9 67 0 54 42 95 Total assets measured at fair value 146,519 200,297 9,522 356,338 141,707 197,861 7,957 347,525 140,015 171,125 5,489 316,629 Determination of fair values from quoted market prices or valuation techniques (continued) 1 30.6.18 31.3.18 31.12.17 CHF million Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Financial liabilities measured at fair value on a recurring basis Financial liabilities at fair value held for trading 26,211 5,117 88 31,416 29,657 4,999 91 34,747 26,037 4,309 117 30,463 of which: Government bills / bonds 4,386 299 0 4,685 7,574 398 0 7,972 5,153 256 0 5,409 Corporate and municipal bonds 138 4,113 34 4,285 11 4,133 31 4,176 50 3,453 35 3,538 Investment fund units 785 214 2 1,002 291 67 4 362 541 263 16 820 Equity instruments 20,901 488 52 21,440 21,781 392 56 22,229 20,293 336 66 20,695 Derivative financial instruments 875 115,954 2,394 119,223 837 108,437 2,671 111,945 398 112,928 2,807 116,133 of which: Interest rate contracts 6 33,738 285 34,030 12 36,125 212 36,349 5 38,196 186 38,387 Credit derivative contracts 0 2,620 613 3,233 0 2,777 629 3,407 0 3,196 601 3,797 Foreign exchange contracts 585 52,921 115 53,620 343 41,891 118 42,353 213 45,150 122 45,485 Equity / index contracts 2 25,122 1,369 26,493 6 26,131 1,708 27,845 42 24,803 1,896 26,741 Commodity contracts 0 1,365 1 1,366 0 1,227 1 1,227 0 1,561 1 1,562 Financial liabilities designated at fair value on a recurring basis Brokerage payables designated at fair value 3 0 37,904 0 37,904 0 34,793 0 34,793 Debt issued designated at fair value 0 46,683 10,166 56,849 0 40,213 11,846 52,059 0 38,617 10,885 49,502 Other financial liabilities designated at fair value 2 36,252 1,089 37,342 2 33,061 1,375 34,438 0 14,282 1,941 16,223 of which: Amounts due under unit-linked investment contracts 0 24,913 0 24,913 0 24,348 0 24,348 0 11,523 0 11,523 Structured securities financing transactions 4 0 6,533 0 6,533 0 5,812 1 5,812 0 372 4 376 Over-the-counter debt instruments 2 4,801 1,085 5,888 2 2,898 1,371 4,270 0 2,385 1,930 4,315 Non-financial liabilities measured at fair value on a non-recurring basis Other non-financial liabilities 0 0 0 0 0 0 0 0 0 1 0 1 Total liabilities measured at fair value 27,087 241,910 13,737 282,734 30,495 221,504 15,984 267,983 26,435 170,138 15,750 212,323 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 for unit-linked investment contracts were reclassified from Financial assets at fair value held for trading to Financial assets at fair value not held for trading as of 1 January 2018. Refer to Note 19 for more information. 3 Comparative period information is not disclosed for financial assets and liabilities that were measured at amortized cost prior to the adoption of IFRS 9 on 1 January 2018. Refer to Note 19 for more information. 4 The increases in Structured securities financing transactions from 31 December 2017 to 31 March 2018 primarily relate to the reclassification of certain balances from amortized cost to fair value through profit or loss upon adoption of IFRS 9 on 1 January 2018. Refer to Note 19 for more information. 5 Upon adoption of IFRS 9 on 1 January 2018, equity instruments that were formerly classified as available for sale under IAS 39 were reclassified to Financial assets at fair value not held for trading. Refer to Note 19 for more information. 6 Other non-financial assets primarily consist of properties and other non-current assets held for sale, which are measured at the lower of their net carrying amount or fair value less costs to sell. |
Disclosure Of Deferred Day-One Profit Or Loss Explanatory | Deferred day-1 profit or loss For the quarter ended Year-to-date CHF million 30.6.18 31.3.18 30.6.17 30.6.18 30.6.17 Balance at the beginning of the period 457 329 365 329 371 Profit / (loss) deferred on new transactions 53 187 65 240 116 (Profit) / loss recognized in the income statement (248) (53) (66) (301) (119) Foreign currency translation 13 (6) (15) 7 (18) Balance at the end of the period 274 457 349 274 349 |
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) 30.6.18 31.12.17 CHF billion 30.6.18 31.12.17 30.6.18 31.12.17 low high weighted average 2 low high weighted average 2 unit 1 Financial assets and liabilities at fair value held for trading, Financial assets at fair value not held for trading 3 Corporate and municipal bonds 0.6 0.6 0.0 0.0 Relative value to market comparable Bond price equivalent 0 134 95 0 133 92 points Traded loans, loans mandatorily at fair value, loan commitments and guarantees 3.9 1.7 0.0 0.0 Relative value to market comparable Loan price equivalent 0 101 97 50 102 98 points Discounted expected cash flows Credit spread 111 153 23 124 basis points Market comparable and securitization model Discount margin 0 14 2 0 14 2 % Auction-rate securities 4 1.8 0.0 Relative value to market comparable Price 77 99 points Investment fund units 5 0.7 0.7 0.0 0.0 Relative value to market comparable Net asset value Equity instruments 5 0.7 0.5 0.1 0.1 Relative value to market comparable Price Debt issued designated at fair value 6 10.2 10.9 Other financial liabilities designated at fair value 6 1.1 1.9 Derivative financial instruments Interest rate contracts 0.2 0.1 0.3 0.2 Option model Volatility of interest rates 7 42 76 28 70 basis points Credit derivative contracts 0.5 0.5 0.6 0.6 Discounted expected cash flows Credit spreads 4 394 6 550 basis points Bond price equivalent 1 99 2 102 points Equity / index contracts 0.6 0.7 1.4 1.9 Option model Equity dividend yields 0 11 0 13 % Volatility of equity stocks, equity and other indices 0 75 0 172 % Equity-to-FX correlation (45) 71 (39) 70 % Equity-to-equity correlation (50) 97 (50) 97 % 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 Comparative period information includes equity instruments that were formerly classified as available for sale under IAS 39 and have been reclassified to Financial assets at fair value not held for trading upon adoption of IFRS 9 on 1 January 2018. Refer to Note 19 for more information. 4 Comparative period information is not disclosed for financial assets and liabilities that were measured at amortized cost prior to the adoption of IFRS 9. Refer to Note 19 for more information. 5 The range of inputs is not disclosed due to the dispersion of values given the diverse nature of the investments. 6 Valuation techniques, significant unobservable inputs and the respective input ranges for Debt issued designated at fair value and Other financial liabilities designated at fair value, which are primarily comprised of over-the-counter debt instruments, are the same as the equivalent derivative or structured financing instruments presented elsewhere in this table. 7 Effective 31 March 2018, the range of inputs reported for this significant unobservable input is based on normal volatility and the unit has been updated to basis points. Log-normal volatility with the unit as points was reported previously. Prior-period information has been restated to reflect this change in presentation. |
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) 30.6.18 31.12.17 CHF billion 30.6.18 31.12.17 30.6.18 31.12.17 low high weighted average 2 low high weighted average 2 unit 1 Financial assets and liabilities at fair value held for trading, Financial assets at fair value not held for trading 3 Corporate and municipal bonds 0.6 0.6 0.0 0.0 Relative value to market comparable Bond price equivalent 0 134 95 0 133 92 points Traded loans, loans mandatorily at fair value, loan commitments and guarantees 3.9 1.7 0.0 0.0 Relative value to market comparable Loan price equivalent 0 101 97 50 102 98 points Discounted expected cash flows Credit spread 111 153 23 124 basis points Market comparable and securitization model Discount margin 0 14 2 0 14 2 % Auction-rate securities 4 1.8 0.0 Relative value to market comparable Price 77 99 points Investment fund units 5 0.7 0.7 0.0 0.0 Relative value to market comparable Net asset value Equity instruments 5 0.7 0.5 0.1 0.1 Relative value to market comparable Price Debt issued designated at fair value 6 10.2 10.9 Other financial liabilities designated at fair value 6 1.1 1.9 Derivative financial instruments Interest rate contracts 0.2 0.1 0.3 0.2 Option model Volatility of interest rates 7 42 76 28 70 basis points Credit derivative contracts 0.5 0.5 0.6 0.6 Discounted expected cash flows Credit spreads 4 394 6 550 basis points Bond price equivalent 1 99 2 102 points Equity / index contracts 0.6 0.7 1.4 1.9 Option model Equity dividend yields 0 11 0 13 % Volatility of equity stocks, equity and other indices 0 75 0 172 % Equity-to-FX correlation (45) 71 (39) 70 % Equity-to-equity correlation (50) 97 (50) 97 % 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 Comparative period information includes equity instruments that were formerly classified as available for sale under IAS 39 and have been reclassified to Financial assets at fair value not held for trading upon adoption of IFRS 9 on 1 January 2018. Refer to Note 19 for more information. 4 Comparative period information is not disclosed for financial assets and liabilities that were measured at amortized cost prior to the adoption of IFRS 9. Refer to Note 19 for more information. 5 The range of inputs is not disclosed due to the dispersion of values given the diverse nature of the investments. 6 Valuation techniques, significant unobservable inputs and the respective input ranges for Debt issued designated at fair value and Other financial liabilities designated at fair value, which are primarily comprised of over-the-counter debt instruments, are the same as the equivalent derivative or structured financing instruments presented elsewhere in this table. 7 Effective 31 March 2018, the range of inputs reported for this significant unobservable input is based on normal volatility and the unit has been updated to basis points. Log-normal volatility with the unit as points was reported previously. Prior-period information has been restated to reflect this change in presentation. |
Disclosure Of Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Explanatory | Sensitivity of fair value measurements to changes in unobservable input assumptions 30.6.18 31.3.18 31.12.17 CHF million Favorable changes Unfavorable changes Favorable changes Unfavorable changes Favorable changes Unfavorable changes Traded loans, loans measured at fair value, loan commitments and guarantees 89 (15) 83 (18) 79 (11) Structured securities financing transactions 20 (15) 65 (65) 34 (34) Auction-rate securities 1 92 (92) 87 (87) Asset-backed securities 31 (26) 31 (26) 19 (15) Equity instruments 182 (115) 134 (106) 79 (53) Interest rate derivative contracts, net 12 (37) 12 (28) 13 (26) Credit derivative contracts, net 40 (35) 33 (36) 64 (99) Foreign exchange derivative contracts, net 6 (3) 8 (5) 12 (6) Equity / index derivative contracts, net 212 (228) 189 (205) 190 (193) Other 21 (21) 14 (14) 13 (13) Total 704 (586) 656 (591) 502 (450) 1 Comparative period information as of 31 December 2017 is not disclosed for financial assets that were measured at amortized cost prior to the adoption of IFRS 9 on 1 January 2018. Refer to Note 19 for more information. |
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 2016 Net gains / (losses) included in income 1 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 30 June 2017 Balance as of 31 December 2017 Reclassifi- cations and remeasure- ments upon adoption of IFRS 9 Balance as of 1 January 2018 Net gains / (losses) included in income 1 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 30 June 2018 2 Financial assets at fair value held for trading 1.7 0.0 0.0 0.7 (2.3) 1.6 0.0 0.2 (0.2) 0.0 1.6 2.0 0.4 2.4 (0.3) (0.2) 1.0 (4.8) 4.2 0.0 0.8 (0.1) 0.0 3.3 of which: Corporate and municipal bonds 0.6 0.0 0.0 0.3 (0.1) 0.0 0.0 0.1 0.0 0.0 0.8 0.6 0.6 (0.1) (0.1) 0.4 (0.8) 0.0 0.0 0.6 0.0 0.0 0.6 Loans 0.7 0.1 0.0 0.3 (2.1) 1.6 0.0 0.0 (0.1) 0.0 0.5 0.5 0.4 0.9 0.0 0.0 0.3 (3.6) 4.2 0.0 0.0 0.0 0.0 1.7 Investment fund units 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.6 0.6 (0.1) (0.1) 0.1 (0.1) 0.0 0.0 0.1 0.0 0.0 0.5 Other 0.4 0.0 0.0 0.0 (0.1) 0.0 0.0 0.0 0.0 0.0 0.3 0.3 0.3 (0.1) (0.1) 0.3 (0.3) 0.0 0.0 0.1 0.0 0.0 0.3 Financial assets at fair value not held for trading 2.1 0.0 0.0 0.0 0.0 0.3 (0.7) 0.0 (0.1) 0.0 1.6 1.4 2.9 4.3 0.1 0.0 1.0 (0.9) 0.0 0.0 0.1 (0.1) 0.1 4.8 of which: Loans (including structured loans) 1.2 0.1 0.1 0.0 0.0 0.0 (0.7) 0.0 (0.1) 0.0 0.5 0.8 0.6 1.3 (0.1) (0.1) 1.0 (0.3) 0.0 0.0 0.1 0.0 0.0 1.9 Auction-rate securities 3 1.8 1.8 0.1 0.1 0.0 (0.2) 0.0 0.0 0.0 0.0 0.1 1.8 Equity instruments 0.4 0.4 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.5 Other 0.9 0.0 0.0 0.0 0.0 0.3 (0.1) 0.0 0.0 0.0 1.1 0.7 0.1 0.8 0.1 0.0 0.0 (0.3) 0.0 0.0 0.0 (0.1) 0.0 0.5 Financial assets measured at fair value through other comprehensive income 0.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.5 0.5 (0.5) Derivative financial instruments – assets 2.5 (0.2) (0.3) 0.0 0.0 0.4 (0.5) 0.1 (0.5) 0.0 1.9 1.5 1.5 0.0 0.1 0.0 0.0 0.4 (0.6) 0.1 0.0 0.0 1.5 of which: Credit derivative contracts 1.3 (0.2) (0.2) 0.0 0.0 0.0 (0.1) 0.0 (0.3) 0.0 0.8 0.5 0.5 (0.1) 0.0 0.0 0.0 0.0 (0.1) 0.0 0.0 0.0 0.5 Equity / index contracts 0.7 0.0 0.0 0.0 0.0 0.4 (0.2) 0.1 (0.1) 0.0 0.8 0.7 0.7 0.0 0.0 0.0 0.0 0.4 (0.5) 0.1 (0.1) 0.0 0.6 Other 0.5 0.0 (0.1) 0.0 0.0 0.0 (0.2) 0.0 (0.1) 0.0 0.3 0.3 0.3 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 Derivative financial instruments – liabilities 4.0 (0.1) (0.2) 0.0 0.0 0.5 (1.0) 0.1 (0.7) 0.0 2.8 2.8 0.0 2.8 (0.3) (0.3) 0.0 0.0 0.7 (0.8) 0.4 (0.5) 0.0 2.4 of which: Credit derivative contracts 1.5 (0.1) (0.1) 0.0 0.0 0.0 (0.2) 0.0 (0.3) 0.0 1.0 0.6 0.6 0.0 0.0 0.0 0.0 0.1 0.0 0.1 (0.1) 0.0 0.6 Equity / index contracts 1.9 0.0 0.0 0.0 0.0 0.5 (0.5) 0.1 (0.4) 0.0 1.4 1.9 1.9 (0.3) (0.2) 0.0 0.0 0.6 (0.7) 0.2 (0.4) 0.0 1.4 Other 0.6 0.0 0.0 0.0 0.0 0.0 (0.2) 0.0 (0.1) 0.0 0.5 0.3 0.0 0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.0 0.4 Debt issued designated at fair value 9.7 1.0 0.8 0.0 0.0 2.5 (2.0) 0.2 (0.9) (0.3) 10.2 10.9 10.9 0.6 0.5 0.0 0.0 3.2 (2.4) 1.3 (3.6) 0.1 10.2 Other financial liabilities designated at fair value 1.3 0.0 0.0 0.0 0.0 1.3 (0.5) 0.0 (0.2) 0.0 1.9 1.9 1.9 (0.6) (0.6) 0.0 0.0 0.4 (0.7) 0.0 0.0 0.0 1.1 1 Net gains / (losses) included in comprehensive income are comprised of Net interest income, Other net income from fair value changes on financial instruments and Other income. 2 Total Level 3 assets as of 30 June 2018 were CHF 9.5 billion (31 March 2018: CHF 8.0 billion, 31 December 2017: CHF 5.5 billion). Total Level 3 liabilities as of 30 June 2018 were CHF 13.7 billion (31 March 2018: CHF 16.0 billion, 31 December 2017: CHF 15.7 billion). 3 Comparative period information is not disclosed for items that were measured at amortized cost prior to the adoption of IFRS 9 on 1 January 2018. Refer to Note 19 for more information. |
Not measured at fair value | |
Fair ValueMeasurement [Line Items] | |
Disclosure Of Fair Value Measurement Of Assets Explanatory | Financial instruments not measured at fair value 30.6.18 31.3.18 31.12.17 CHF billion Carrying value Fair value Carrying value Fair value Carrying value Fair value Assets Cash and balances at central banks 102.3 102.3 92.8 92.8 87.8 87.8 Loans and advances to banks 15.6 15.6 13.3 13.3 13.7 13.7 Receivables from securities financing transactions 76.4 76.4 77.0 77.0 89.6 89.6 Cash collateral receivables on derivative instruments 24.9 24.9 24.3 24.3 23.4 23.4 Loans and advances to customers 318.3 318.8 316.2 317.0 318.5 319.9 Other financial assets measured at amortized cost 21.0 20.7 19.1 18.9 36.9 36.7 Liabilities Amounts due to banks 10.2 10.2 9.0 9.0 7.5 7.5 Payables from securities financing transactions 10.1 10.1 9.2 9.2 17.0 17.0 Cash collateral payables on derivative instruments 31.8 31.8 29.4 29.4 30.2 30.2 Customer deposits 403.4 403.4 398.6 398.6 409.0 409.0 Debt issued measured at amortized cost 137.5 140.1 137.9 140.9 139.6 143.5 Other financial liabilities measured at amortized cost 6.9 6.9 5.9 5.9 36.3 36.3 |
Disclosure Of Fair Value Measurement Of Liabilities Explanatory | Financial instruments not measured at fair value 30.6.18 31.3.18 31.12.17 CHF billion Carrying value Fair value Carrying value Fair value Carrying value Fair value Assets Cash and balances at central banks 102.3 102.3 92.8 92.8 87.8 87.8 Loans and advances to banks 15.6 15.6 13.3 13.3 13.7 13.7 Receivables from securities financing transactions 76.4 76.4 77.0 77.0 89.6 89.6 Cash collateral receivables on derivative instruments 24.9 24.9 24.3 24.3 23.4 23.4 Loans and advances to customers 318.3 318.8 316.2 317.0 318.5 319.9 Other financial assets measured at amortized cost 21.0 20.7 19.1 18.9 36.9 36.7 Liabilities Amounts due to banks 10.2 10.2 9.0 9.0 7.5 7.5 Payables from securities financing transactions 10.1 10.1 9.2 9.2 17.0 17.0 Cash collateral payables on derivative instruments 31.8 31.8 29.4 29.4 30.2 30.2 Customer deposits 403.4 403.4 398.6 398.6 409.0 409.0 Debt issued measured at amortized cost 137.5 140.1 137.9 140.9 139.6 143.5 Other financial liabilities measured at amortized cost 6.9 6.9 5.9 5.9 36.3 36.3 |
Level 3 | |
Fair ValueMeasurement [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) 30.6.18 31.12.17 CHF billion 30.6.18 31.12.17 30.6.18 31.12.17 low high weighted average 2 low high weighted average 2 unit 1 Financial assets and liabilities at fair value held for trading, Financial assets at fair value not held for trading 3 Corporate and municipal bonds 0.6 0.6 0.0 0.0 Relative value to market comparable Bond price equivalent 0 134 95 0 133 92 points Traded loans, loans mandatorily at fair value, loan commitments and guarantees 3.9 1.7 0.0 0.0 Relative value to market comparable Loan price equivalent 0 101 97 50 102 98 points Discounted expected cash flows Credit spread 111 153 23 124 basis points Market comparable and securitization model Discount margin 0 14 2 0 14 2 % Auction-rate securities 4 1.8 0.0 Relative value to market comparable Price 77 99 points Investment fund units 5 0.7 0.7 0.0 0.0 Relative value to market comparable Net asset value Equity instruments 5 0.7 0.5 0.1 0.1 Relative value to market comparable Price Debt issued designated at fair value 6 10.2 10.9 Other financial liabilities designated at fair value 6 1.1 1.9 Derivative financial instruments Interest rate contracts 0.2 0.1 0.3 0.2 Option model Volatility of interest rates 7 42 76 28 70 basis points Credit derivative contracts 0.5 0.5 0.6 0.6 Discounted expected cash flows Credit spreads 4 394 6 550 basis points Bond price equivalent 1 99 2 102 points Equity / index contracts 0.6 0.7 1.4 1.9 Option model Equity dividend yields 0 11 0 13 % Volatility of equity stocks, equity and other indices 0 75 0 172 % Equity-to-FX correlation (45) 71 (39) 70 % Equity-to-equity correlation (50) 97 (50) 97 % 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 Comparative period information includes equity instruments that were formerly classified as available for sale under IAS 39 and have been reclassified to Financial assets at fair value not held for trading upon adoption of IFRS 9 on 1 January 2018. Refer to Note 19 for more information. 4 Comparative period information is not disclosed for financial assets and liabilities that were measured at amortized cost prior to the adoption of IFRS 9. Refer to Note 19 for more information. 5 The range of inputs is not disclosed due to the dispersion of values given the diverse nature of the investments. 6 Valuation techniques, significant unobservable inputs and the respective input ranges for Debt issued designated at fair value and Other financial liabilities designated at fair value, which are primarily comprised of over-the-counter debt instruments, are the same as the equivalent derivative or structured financing instruments presented elsewhere in this table. 7 Effective 31 March 2018, the range of inputs reported for this significant unobservable input is based on normal volatility and the unit has been updated to basis points. Log-normal volatility with the unit as points was reported previously. Prior-period information has been restated to reflect this change in presentation. |
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) 30.6.18 31.12.17 CHF billion 30.6.18 31.12.17 30.6.18 31.12.17 low high weighted average 2 low high weighted average 2 unit 1 Financial assets and liabilities at fair value held for trading, Financial assets at fair value not held for trading 3 Corporate and municipal bonds 0.6 0.6 0.0 0.0 Relative value to market comparable Bond price equivalent 0 134 95 0 133 92 points Traded loans, loans mandatorily at fair value, loan commitments and guarantees 3.9 1.7 0.0 0.0 Relative value to market comparable Loan price equivalent 0 101 97 50 102 98 points Discounted expected cash flows Credit spread 111 153 23 124 basis points Market comparable and securitization model Discount margin 0 14 2 0 14 2 % Auction-rate securities 4 1.8 0.0 Relative value to market comparable Price 77 99 points Investment fund units 5 0.7 0.7 0.0 0.0 Relative value to market comparable Net asset value Equity instruments 5 0.7 0.5 0.1 0.1 Relative value to market comparable Price Debt issued designated at fair value 6 10.2 10.9 Other financial liabilities designated at fair value 6 1.1 1.9 Derivative financial instruments Interest rate contracts 0.2 0.1 0.3 0.2 Option model Volatility of interest rates 7 42 76 28 70 basis points Credit derivative contracts 0.5 0.5 0.6 0.6 Discounted expected cash flows Credit spreads 4 394 6 550 basis points Bond price equivalent 1 99 2 102 points Equity / index contracts 0.6 0.7 1.4 1.9 Option model Equity dividend yields 0 11 0 13 % Volatility of equity stocks, equity and other indices 0 75 0 172 % Equity-to-FX correlation (45) 71 (39) 70 % Equity-to-equity correlation (50) 97 (50) 97 % 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 Comparative period information includes equity instruments that were formerly classified as available for sale under IAS 39 and have been reclassified to Financial assets at fair value not held for trading upon adoption of IFRS 9 on 1 January 2018. Refer to Note 19 for more information. 4 Comparative period information is not disclosed for financial assets and liabilities that were measured at amortized cost prior to the adoption of IFRS 9. Refer to Note 19 for more information. 5 The range of inputs is not disclosed due to the dispersion of values given the diverse nature of the investments. 6 Valuation techniques, significant unobservable inputs and the respective input ranges for Debt issued designated at fair value and Other financial liabilities designated at fair value, which are primarily comprised of over-the-counter debt instruments, are the same as the equivalent derivative or structured financing instruments presented elsewhere in this table. 7 Effective 31 March 2018, the range of inputs reported for this significant unobservable input is based on normal volatility and the unit has been updated to basis points. Log-normal volatility with the unit as points was reported previously. Prior-period information has been restated to reflect this change in presentation. |
Derivative instruments (Tables)
Derivative instruments (Tables) | 3 Months Ended |
Jun. 30, 2018 | |
Derivative financial instruments | |
Derivative [Line Items] | |
Disclosure Of Financial Assets Explanatory | As of 30.6.18, CHF billion Derivative financial assets Notional values related to derivative financial assets 3 Derivative financial liabilities Notional values related to derivative financial liabilities 3 Other notional values 4 Derivative financial instruments 1,2 Interest rate contracts 38.8 1,169 34.0 1,093 11,322 Credit derivative contracts 2.1 81 3.2 83 0 Foreign exchange contracts 53.7 2,736 53.6 2,588 1 Equity / index contracts 24.9 446 26.5 530 101 Commodity contracts 1.6 44 1.4 39 11 Unsettled purchases of non-derivative financial instruments 5 0.2 26 0.2 18 Unsettled sales of non-derivative financial instruments 5 0.3 31 0.3 20 Total derivative financial instruments, based on IFRS netting 6 121.6 4,533 119.2 4,371 11,435 Further netting potential not recognized on the balance sheet 7 (106.6) (103.1) of which: netting of recognized financial liabilities / assets (87.4) (87.4) of which: netting with collateral received / pledged (19.2) (15.7) Total derivative financial instruments, after consideration of further netting potential 15.1 16.2 As of 31.3.18, CHF billion Derivative financial instruments 1,2 Interest rate contracts 41.2 1,231 36.3 1,103 11,173 Credit derivative contracts 2.4 88 3.4 93 0 Foreign exchange contracts 42.6 2,547 42.4 2,445 0 Equity / index contracts 25.0 412 27.8 474 91 Commodity contracts 1.4 39 1.2 39 9 Unsettled purchases of non-derivative financial instruments 5 0.4 36 0.3 15 Unsettled sales of non-derivative financial instruments 5 0.3 28 0.5 28 Total derivative financial instruments, based on IFRS netting 6 113.3 4,382 111.9 4,197 11,273 Further netting potential not recognized on the balance sheet 7 (99.3) (96.8) of which: netting of recognized financial liabilities / assets (80.7) (80.7) of which: netting with collateral received / pledged (18.6) (16.1) Total derivative financial instruments, after consideration of further netting potential 14.1 15.2 As of 31.12.17, CHF billion Derivative financial instruments 1 Interest rate contracts 44.0 1,142 38.4 1,044 10,462 Credit derivative contracts 2.8 92 3.8 98 1 Foreign exchange contracts 47.1 2,389 45.5 2,193 0 Equity / index contracts 22.2 380 26.7 487 83 Commodity contracts 1.7 33 1.6 37 8 Unsettled purchases of non-derivative financial instruments 5 0.1 12 0.1 11 Unsettled sales of non-derivative financial instruments 5 0.1 15 0.1 9 Total derivative financial instruments, based on IFRS netting 6 118.2 4,063 116.1 3,878 10,555 Further netting potential not recognized on the balance sheet 7 (104.2) (98.5) of which: netting of recognized financial liabilities / assets (83.5) (83.5) of which: netting with collateral received / pledged (20.7) (15.0) Total derivative financial instruments, after consideration of further netting potential 14.0 17.7 1 Derivative financial liabilities as of 30 June 2018 include CHF 0.0 billion related to derivative loan commitments (31 March 2018: CHF 0.1 billion; 31 December 2017: CHF 0.0 billion). No notional amounts related to these commitments are included in this table but they are disclosed within Note 16 under Loan commitments with a committed amount of CHF 8.1 billion as of 30 June 2018 (31 March 2018: CHF 3.9 billion; 31 December 2017: CHF 5.3 billion). 2 Upon adoption of IFRS 9 on 1 January 2018, certain forward starting repurchase and reverse repurchase agreements have been classified as measured at fair value through profit or loss and are recognized within derivative instruments. The fair value of these derivative instruments was not material as of 30 June 2018 or 31 March 2018. No notional amounts related to these instruments are included in this table, but they are disclosed within Note 16 under Forward starting transactions. 3 In cases where derivative financial instruments are presented on a net basis on the balance sheet, the respective notional values of the netted derivative financial instruments are still presented on a gross basis. 4 Other notional values relate to derivatives that are cleared through either a central 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 all periods presented. 5 Changes in the fair value of purchased and sold non-derivative financial instruments between trade date and settlement date are recognized as derivative financial instruments. 6 Financial assets and liabilities are presented net on the balance sheet if UBS has the unconditional and legally enforceable right to offset the recognized amounts, both in the normal course of business and in the event of default, bankruptcy or insolvency of the entity and all of the counterparties, and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously. 7 Reflects the netting potential in accordance with enforceable master netting and similar arrangements where not all criteria for a net presentation on the balance sheet have been met. Refer to “Note 24 Offsetting financial assets and financial liabilities” in the “Consolidated financial statements” section of the Annual Report 2017 for more information. |
Disclosure Of Financial Liabilities Explanatory | As of 30.6.18, CHF billion Derivative financial assets Notional values related to derivative financial assets 3 Derivative financial liabilities Notional values related to derivative financial liabilities 3 Other notional values 4 Derivative financial instruments 1,2 Interest rate contracts 38.8 1,169 34.0 1,093 11,322 Credit derivative contracts 2.1 81 3.2 83 0 Foreign exchange contracts 53.7 2,736 53.6 2,588 1 Equity / index contracts 24.9 446 26.5 530 101 Commodity contracts 1.6 44 1.4 39 11 Unsettled purchases of non-derivative financial instruments 5 0.2 26 0.2 18 Unsettled sales of non-derivative financial instruments 5 0.3 31 0.3 20 Total derivative financial instruments, based on IFRS netting 6 121.6 4,533 119.2 4,371 11,435 Further netting potential not recognized on the balance sheet 7 (106.6) (103.1) of which: netting of recognized financial liabilities / assets (87.4) (87.4) of which: netting with collateral received / pledged (19.2) (15.7) Total derivative financial instruments, after consideration of further netting potential 15.1 16.2 As of 31.3.18, CHF billion Derivative financial instruments 1,2 Interest rate contracts 41.2 1,231 36.3 1,103 11,173 Credit derivative contracts 2.4 88 3.4 93 0 Foreign exchange contracts 42.6 2,547 42.4 2,445 0 Equity / index contracts 25.0 412 27.8 474 91 Commodity contracts 1.4 39 1.2 39 9 Unsettled purchases of non-derivative financial instruments 5 0.4 36 0.3 15 Unsettled sales of non-derivative financial instruments 5 0.3 28 0.5 28 Total derivative financial instruments, based on IFRS netting 6 113.3 4,382 111.9 4,197 11,273 Further netting potential not recognized on the balance sheet 7 (99.3) (96.8) of which: netting of recognized financial liabilities / assets (80.7) (80.7) of which: netting with collateral received / pledged (18.6) (16.1) Total derivative financial instruments, after consideration of further netting potential 14.1 15.2 As of 31.12.17, CHF billion Derivative financial instruments 1 Interest rate contracts 44.0 1,142 38.4 1,044 10,462 Credit derivative contracts 2.8 92 3.8 98 1 Foreign exchange contracts 47.1 2,389 45.5 2,193 0 Equity / index contracts 22.2 380 26.7 487 83 Commodity contracts 1.7 33 1.6 37 8 Unsettled purchases of non-derivative financial instruments 5 0.1 12 0.1 11 Unsettled sales of non-derivative financial instruments 5 0.1 15 0.1 9 Total derivative financial instruments, based on IFRS netting 6 118.2 4,063 116.1 3,878 10,555 Further netting potential not recognized on the balance sheet 7 (104.2) (98.5) of which: netting of recognized financial liabilities / assets (83.5) (83.5) of which: netting with collateral received / pledged (20.7) (15.0) Total derivative financial instruments, after consideration of further netting potential 14.0 17.7 1 Derivative financial liabilities as of 30 June 2018 include CHF 0.0 billion related to derivative loan commitments (31 March 2018: CHF 0.1 billion; 31 December 2017: CHF 0.0 billion). No notional amounts related to these commitments are included in this table but they are disclosed within Note 16 under Loan commitments with a committed amount of CHF 8.1 billion as of 30 June 2018 (31 March 2018: CHF 3.9 billion; 31 December 2017: CHF 5.3 billion). 2 Upon adoption of IFRS 9 on 1 January 2018, certain forward starting repurchase and reverse repurchase agreements have been classified as measured at fair value through profit or loss and are recognized within derivative instruments. The fair value of these derivative instruments was not material as of 30 June 2018 or 31 March 2018. No notional amounts related to these instruments are included in this table, but they are disclosed within Note 16 under Forward starting transactions. 3 In cases where derivative financial instruments are presented on a net basis on the balance sheet, the respective notional values of the netted derivative financial instruments are still presented on a gross basis. 4 Other notional values relate to derivatives that are cleared through either a central 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 all periods presented. 5 Changes in the fair value of purchased and sold non-derivative financial instruments between trade date and settlement date are recognized as derivative financial instruments. 6 Financial assets and liabilities are presented net on the balance sheet if UBS has the unconditional and legally enforceable right to offset the recognized amounts, both in the normal course of business and in the event of default, bankruptcy or insolvency of the entity and all of the counterparties, and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously. 7 Reflects the netting potential in accordance with enforceable master netting and similar arrangements where not all criteria for a net presentation on the balance sheet have been met. Refer to “Note 24 Offsetting financial assets and financial liabilities” in the “Consolidated financial statements” section of the Annual Report 2017 for more information. |
Disclosure Of Offsetting Of Financial Assets Explanatory | As of 30.6.18, CHF billion Derivative financial assets Notional values related to derivative financial assets 3 Derivative financial liabilities Notional values related to derivative financial liabilities 3 Other notional values 4 Derivative financial instruments 1,2 Interest rate contracts 38.8 1,169 34.0 1,093 11,322 Credit derivative contracts 2.1 81 3.2 83 0 Foreign exchange contracts 53.7 2,736 53.6 2,588 1 Equity / index contracts 24.9 446 26.5 530 101 Commodity contracts 1.6 44 1.4 39 11 Unsettled purchases of non-derivative financial instruments 5 0.2 26 0.2 18 Unsettled sales of non-derivative financial instruments 5 0.3 31 0.3 20 Total derivative financial instruments, based on IFRS netting 6 121.6 4,533 119.2 4,371 11,435 Further netting potential not recognized on the balance sheet 7 (106.6) (103.1) of which: netting of recognized financial liabilities / assets (87.4) (87.4) of which: netting with collateral received / pledged (19.2) (15.7) Total derivative financial instruments, after consideration of further netting potential 15.1 16.2 As of 31.3.18, CHF billion Derivative financial instruments 1,2 Interest rate contracts 41.2 1,231 36.3 1,103 11,173 Credit derivative contracts 2.4 88 3.4 93 0 Foreign exchange contracts 42.6 2,547 42.4 2,445 0 Equity / index contracts 25.0 412 27.8 474 91 Commodity contracts 1.4 39 1.2 39 9 Unsettled purchases of non-derivative financial instruments 5 0.4 36 0.3 15 Unsettled sales of non-derivative financial instruments 5 0.3 28 0.5 28 Total derivative financial instruments, based on IFRS netting 6 113.3 4,382 111.9 4,197 11,273 Further netting potential not recognized on the balance sheet 7 (99.3) (96.8) of which: netting of recognized financial liabilities / assets (80.7) (80.7) of which: netting with collateral received / pledged (18.6) (16.1) Total derivative financial instruments, after consideration of further netting potential 14.1 15.2 As of 31.12.17, CHF billion Derivative financial instruments 1 Interest rate contracts 44.0 1,142 38.4 1,044 10,462 Credit derivative contracts 2.8 92 3.8 98 1 Foreign exchange contracts 47.1 2,389 45.5 2,193 0 Equity / index contracts 22.2 380 26.7 487 83 Commodity contracts 1.7 33 1.6 37 8 Unsettled purchases of non-derivative financial instruments 5 0.1 12 0.1 11 Unsettled sales of non-derivative financial instruments 5 0.1 15 0.1 9 Total derivative financial instruments, based on IFRS netting 6 118.2 4,063 116.1 3,878 10,555 Further netting potential not recognized on the balance sheet 7 (104.2) (98.5) of which: netting of recognized financial liabilities / assets (83.5) (83.5) of which: netting with collateral received / pledged (20.7) (15.0) Total derivative financial instruments, after consideration of further netting potential 14.0 17.7 1 Derivative financial liabilities as of 30 June 2018 include CHF 0.0 billion related to derivative loan commitments (31 March 2018: CHF 0.1 billion; 31 December 2017: CHF 0.0 billion). No notional amounts related to these commitments are included in this table but they are disclosed within Note 16 under Loan commitments with a committed amount of CHF 8.1 billion as of 30 June 2018 (31 March 2018: CHF 3.9 billion; 31 December 2017: CHF 5.3 billion). 2 Upon adoption of IFRS 9 on 1 January 2018, certain forward starting repurchase and reverse repurchase agreements have been classified as measured at fair value through profit or loss and are recognized within derivative instruments. The fair value of these derivative instruments was not material as of 30 June 2018 or 31 March 2018. No notional amounts related to these instruments are included in this table, but they are disclosed within Note 16 under Forward starting transactions. 3 In cases where derivative financial instruments are presented on a net basis on the balance sheet, the respective notional values of the netted derivative financial instruments are still presented on a gross basis. 4 Other notional values relate to derivatives that are cleared through either a central 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 all periods presented. 5 Changes in the fair value of purchased and sold non-derivative financial instruments between trade date and settlement date are recognized as derivative financial instruments. 6 Financial assets and liabilities are presented net on the balance sheet if UBS has the unconditional and legally enforceable right to offset the recognized amounts, both in the normal course of business and in the event of default, bankruptcy or insolvency of the entity and all of the counterparties, and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously. 7 Reflects the netting potential in accordance with enforceable master netting and similar arrangements where not all criteria for a net presentation on the balance sheet have been met. Refer to “Note 24 Offsetting financial assets and financial liabilities” in the “Consolidated financial statements” section of the Annual Report 2017 for more information. |
Disclosure Of Offsetting Of Financial Liabilities Explanatory | As of 30.6.18, CHF billion Derivative financial assets Notional values related to derivative financial assets 3 Derivative financial liabilities Notional values related to derivative financial liabilities 3 Other notional values 4 Derivative financial instruments 1,2 Interest rate contracts 38.8 1,169 34.0 1,093 11,322 Credit derivative contracts 2.1 81 3.2 83 0 Foreign exchange contracts 53.7 2,736 53.6 2,588 1 Equity / index contracts 24.9 446 26.5 530 101 Commodity contracts 1.6 44 1.4 39 11 Unsettled purchases of non-derivative financial instruments 5 0.2 26 0.2 18 Unsettled sales of non-derivative financial instruments 5 0.3 31 0.3 20 Total derivative financial instruments, based on IFRS netting 6 121.6 4,533 119.2 4,371 11,435 Further netting potential not recognized on the balance sheet 7 (106.6) (103.1) of which: netting of recognized financial liabilities / assets (87.4) (87.4) of which: netting with collateral received / pledged (19.2) (15.7) Total derivative financial instruments, after consideration of further netting potential 15.1 16.2 As of 31.3.18, CHF billion Derivative financial instruments 1,2 Interest rate contracts 41.2 1,231 36.3 1,103 11,173 Credit derivative contracts 2.4 88 3.4 93 0 Foreign exchange contracts 42.6 2,547 42.4 2,445 0 Equity / index contracts 25.0 412 27.8 474 91 Commodity contracts 1.4 39 1.2 39 9 Unsettled purchases of non-derivative financial instruments 5 0.4 36 0.3 15 Unsettled sales of non-derivative financial instruments 5 0.3 28 0.5 28 Total derivative financial instruments, based on IFRS netting 6 113.3 4,382 111.9 4,197 11,273 Further netting potential not recognized on the balance sheet 7 (99.3) (96.8) of which: netting of recognized financial liabilities / assets (80.7) (80.7) of which: netting with collateral received / pledged (18.6) (16.1) Total derivative financial instruments, after consideration of further netting potential 14.1 15.2 As of 31.12.17, CHF billion Derivative financial instruments 1 Interest rate contracts 44.0 1,142 38.4 1,044 10,462 Credit derivative contracts 2.8 92 3.8 98 1 Foreign exchange contracts 47.1 2,389 45.5 2,193 0 Equity / index contracts 22.2 380 26.7 487 83 Commodity contracts 1.7 33 1.6 37 8 Unsettled purchases of non-derivative financial instruments 5 0.1 12 0.1 11 Unsettled sales of non-derivative financial instruments 5 0.1 15 0.1 9 Total derivative financial instruments, based on IFRS netting 6 118.2 4,063 116.1 3,878 10,555 Further netting potential not recognized on the balance sheet 7 (104.2) (98.5) of which: netting of recognized financial liabilities / assets (83.5) (83.5) of which: netting with collateral received / pledged (20.7) (15.0) Total derivative financial instruments, after consideration of further netting potential 14.0 17.7 1 Derivative financial liabilities as of 30 June 2018 include CHF 0.0 billion related to derivative loan commitments (31 March 2018: CHF 0.1 billion; 31 December 2017: CHF 0.0 billion). No notional amounts related to these commitments are included in this table but they are disclosed within Note 16 under Loan commitments with a committed amount of CHF 8.1 billion as of 30 June 2018 (31 March 2018: CHF 3.9 billion; 31 December 2017: CHF 5.3 billion). 2 Upon adoption of IFRS 9 on 1 January 2018, certain forward starting repurchase and reverse repurchase agreements have been classified as measured at fair value through profit or loss and are recognized within derivative instruments. The fair value of these derivative instruments was not material as of 30 June 2018 or 31 March 2018. No notional amounts related to these instruments are included in this table, but they are disclosed within Note 16 under Forward starting transactions. 3 In cases where derivative financial instruments are presented on a net basis on the balance sheet, the respective notional values of the netted derivative financial instruments are still presented on a gross basis. 4 Other notional values relate to derivatives that are cleared through either a central 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 all periods presented. 5 Changes in the fair value of purchased and sold non-derivative financial instruments between trade date and settlement date are recognized as derivative financial instruments. 6 Financial assets and liabilities are presented net on the balance sheet if UBS has the unconditional and legally enforceable right to offset the recognized amounts, both in the normal course of business and in the event of default, bankruptcy or insolvency of the entity and all of the counterparties, and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously. 7 Reflects the netting potential in accordance with enforceable master netting and similar arrangements where not all criteria for a net presentation on the balance sheet have been met. Refer to “Note 24 Offsetting financial assets and financial liabilities” in the “Consolidated financial statements” section of the Annual Report 2017 for more information. |
Cash collateral receivables on derivative instruments | |
Derivative [Line Items] | |
Disclosure Of Offsetting Of Financial Assets Explanatory | CHF billion Receivables 30.6.18 Payables 30.6.18 Receivables 31.3.18 Payables 31.3.18 Receivables 31.12.17 Payables 31.12.17 Cash collateral on derivative instruments, based on IFRS netting 1 24.9 31.8 24.3 29.4 23.4 30.2 Further netting potential not recognized on the balance sheet 2 (13.0) (15.5) (13.5) (14.4) (12.5) (17.4) of which: netting of recognized financial liabilities / assets (12.5) (14.5) (12.9) (13.3) (11.7) (16.3) of which: netting with collateral received / pledged (0.5) (1.0) (0.6) (1.2) (0.7) (1.2) Cash collateral on derivative instruments, after consideration of further netting potential 11.9 16.4 10.7 15.0 11.0 12.8 1 Financial assets and liabilities are presented net on the balance sheet if UBS has the unconditional and legally enforceable right to offset the recognized amounts, both in the normal course of business and in the event of default, bankruptcy or insolvency of UBS or its counterparties, and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously. 2 Reflects the netting potential in accordance with enforceable master netting and similar arrangements where not all criteria for a net presentation on the balance sheet have been met. Refer to “Note 24 Offsetting financial assets and financial liabilities” in the “Consolidated financial statements” section of our Annual Report 2017 for more information. |
Disclosure Of Offsetting Of Financial Liabilities Explanatory | CHF billion Receivables 30.6.18 Payables 30.6.18 Receivables 31.3.18 Payables 31.3.18 Receivables 31.12.17 Payables 31.12.17 Cash collateral on derivative instruments, based on IFRS netting 1 24.9 31.8 24.3 29.4 23.4 30.2 Further netting potential not recognized on the balance sheet 2 (13.0) (15.5) (13.5) (14.4) (12.5) (17.4) of which: netting of recognized financial liabilities / assets (12.5) (14.5) (12.9) (13.3) (11.7) (16.3) of which: netting with collateral received / pledged (0.5) (1.0) (0.6) (1.2) (0.7) (1.2) Cash collateral on derivative instruments, after consideration of further netting potential 11.9 16.4 10.7 15.0 11.0 12.8 1 Financial assets and liabilities are presented net on the balance sheet if UBS has the unconditional and legally enforceable right to offset the recognized amounts, both in the normal course of business and in the event of default, bankruptcy or insolvency of UBS or its counterparties, and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously. 2 Reflects the netting potential in accordance with enforceable master netting and similar arrangements where not all criteria for a net presentation on the balance sheet have been met. Refer to “Note 24 Offsetting financial assets and financial liabilities” in the “Consolidated financial statements” section of our Annual Report 2017 for more information. |
Cash collateral payables on derivative instruments | |
Derivative [Line Items] | |
Disclosure Of Offsetting Of Financial Assets Explanatory | CHF billion Receivables 30.6.18 Payables 30.6.18 Receivables 31.3.18 Payables 31.3.18 Receivables 31.12.17 Payables 31.12.17 Cash collateral on derivative instruments, based on IFRS netting 1 24.9 31.8 24.3 29.4 23.4 30.2 Further netting potential not recognized on the balance sheet 2 (13.0) (15.5) (13.5) (14.4) (12.5) (17.4) of which: netting of recognized financial liabilities / assets (12.5) (14.5) (12.9) (13.3) (11.7) (16.3) of which: netting with collateral received / pledged (0.5) (1.0) (0.6) (1.2) (0.7) (1.2) Cash collateral on derivative instruments, after consideration of further netting potential 11.9 16.4 10.7 15.0 11.0 12.8 1 Financial assets and liabilities are presented net on the balance sheet if UBS has the unconditional and legally enforceable right to offset the recognized amounts, both in the normal course of business and in the event of default, bankruptcy or insolvency of UBS or its counterparties, and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously. 2 Reflects the netting potential in accordance with enforceable master netting and similar arrangements where not all criteria for a net presentation on the balance sheet have been met. Refer to “Note 24 Offsetting financial assets and financial liabilities” in the “Consolidated financial statements” section of our Annual Report 2017 for more information. |
Disclosure Of Offsetting Of Financial Liabilities Explanatory | CHF billion Receivables 30.6.18 Payables 30.6.18 Receivables 31.3.18 Payables 31.3.18 Receivables 31.12.17 Payables 31.12.17 Cash collateral on derivative instruments, based on IFRS netting 1 24.9 31.8 24.3 29.4 23.4 30.2 Further netting potential not recognized on the balance sheet 2 (13.0) (15.5) (13.5) (14.4) (12.5) (17.4) of which: netting of recognized financial liabilities / assets (12.5) (14.5) (12.9) (13.3) (11.7) (16.3) of which: netting with collateral received / pledged (0.5) (1.0) (0.6) (1.2) (0.7) (1.2) Cash collateral on derivative instruments, after consideration of further netting potential 11.9 16.4 10.7 15.0 11.0 12.8 1 Financial assets and liabilities are presented net on the balance sheet if UBS has the unconditional and legally enforceable right to offset the recognized amounts, both in the normal course of business and in the event of default, bankruptcy or insolvency of UBS or its counterparties, and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously. 2 Reflects the netting potential in accordance with enforceable master netting and similar arrangements where not all criteria for a net presentation on the balance sheet have been met. Refer to “Note 24 Offsetting financial assets and financial liabilities” in the “Consolidated financial statements” section of our Annual Report 2017 for more information. |
Other assets and liabilities (T
Other assets and liabilities (Tables) | 3 Months Ended |
Jun. 30, 2018 | |
Other financial assets measured at amortized cost | |
Other Assets And Other Liabilities [Line Items] | |
Disclosure Of Other Assets Explanatory | CHF million 30.6.18 31.3.18 31.12.17 Prime brokerage receivables 1 19,080 Debt securities 12,241 10,610 9,166 of which: government bills / bonds 9,787 7,775 6,465 Loans to financial advisors 2 3,394 3,326 3,118 Fee- and commission-related receivables 1,751 1,679 1,780 Finance lease receivables 1,076 1,070 1,059 Settlement and clearing accounts 448 557 716 Accrued interest income 667 609 577 Other 1,417 1,279 1,365 Total other financial assets measured at amortized cost 20,996 19,129 36,861 1 Upon adoption of IFRS 9 on 1 January 2018, the classification of prime brokerage receivables and payables changed from amortized cost to fair value through profit or loss, and brokerage receivables and payables are now presented separately on the balance sheet. Refer to Note 19 for more information. 2 Related to financial advisors in the US and Canada. |
Other non-financial assets | |
Other Assets And Other Liabilities [Line Items] | |
Disclosure Of Other Assets Explanatory | CHF million 30.6.18 31.3.18 31.12.17 Precious metals and other physical commodities 3,975 4,032 4,563 Bail deposit 1 1,320 1,336 1,337 Prepaid expenses 1,037 1,065 1,013 Net defined benefit pension and post-employment assets 61 1 0 VAT and other tax receivables 384 365 359 Properties and other non-current assets held for sale 65 67 95 Other 482 459 266 Total other non-financial assets 7,324 7,324 7,633 1 Refer to item 1 in Note 15b for more information. |
Other financial liabilities measured at amortized cost | |
Other Assets And Other Liabilities [Line Items] | |
Disclosure Of Other Liabilities Explanatory | CHF million 30.6.18 31.3.18 31.12.17 Prime brokerage payables 1 29,646 Other accrued expenses 2,178 2,277 2,444 Accrued interest expenses 1,288 1,291 1,513 Settlement and clearing accounts 1,257 1,067 1,395 Other 2,186 1,276 1,338 Total other financial liabilities measured at amortized cost 6,909 5,911 36,337 1 Upon adoption of IFRS 9 on 1 January 2018, the classification of prime brokerage receivables and payables changed from amortized cost to fair value through profit or loss, and brokerage receivables and payables are now presented separately on the balance sheet. Refer to Note 19 for more information. |
Other financial liabilities designated at fair value | |
Other Assets And Other Liabilities [Line Items] | |
Disclosure Of Other Liabilities Explanatory | CHF million 30.6.18 31.3.18 31.12.17 Amounts due under unit-linked investment contracts 24,913 24,348 11,523 Structured securities financing transactions 6,533 5,812 375 Over-the-counter debt instruments 5,888 4,270 4,317 of which: life-to-date own credit (gain) / loss (41) 5 36 Loan commitments and guarantees 8 7 9 Total other financial liabilities designated at fair value 37,342 34,438 16,223 |
Other non-financial liabilities | |
Other Assets And Other Liabilities [Line Items] | |
Disclosure Of Other Liabilities Explanatory | CHF million 30.6.18 31.3.18 31.12.17 Compensation-related liabilities 5,922 5,224 7,674 of which: accrued expenses 1,765 1,141 2,670 of which: Deferred Contingent Capital Plan 1,770 1,629 1,993 of which: other deferred compensation plans 1,762 1,627 2,086 of which: net defined benefit pension and post-employment liabilities 625 828 925 Current and deferred tax liabilities 907 947 912 VAT and other tax payables 503 534 415 Deferred income 240 244 150 Other 136 67 53 Total other non-financial liabilities 7,708 7,016 9,205 CHF million 30.6.18 31.3.18 31.12.17 Compensation-related liabilities 5,922 5,224 7,674 of which: accrued expenses 1,765 1,141 2,670 of which: Deferred Contingent Capital Plan 1,770 1,629 1,993 of which: other deferred compensation plans 1,762 1,627 2,086 of which: net defined benefit pension and post-employment liabilities 625 828 925 Current and deferred tax liabilities 907 947 912 VAT and other tax payables 503 534 415 Deferred income 240 244 150 Other 136 67 53 Total other non-financial liabilities 7,708 7,016 9,205 |
Debt issued designated at fai40
Debt issued designated at fair value (Table) | 3 Months Ended |
Jun. 30, 2018 | |
Debt issued designated at fair value | |
Disclosure Of Financial Liabilities [Line Items] | |
Disclosure Of Designated Financial Liabilities At Fair Value Through Profit Or Loss | CHF million 30.6.18 31.3.18 31.12.17 Issued debt instruments Equity-linked 1 39,355 36,107 34,162 Rates-linked 7,505 5,972 5,811 Credit-linked 3,034 2,933 2,937 Fixed-rate 4,293 4,187 3,921 Other 2,661 2,860 2,671 Total debt issued designated at fair value 56,849 52,059 49,502 of which: issued by UBS AG with original maturity greater than one year 2 41,624 38,255 37,266 of which: life-to-date own credit (gain) / loss (188) 14 159 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. More than 99% of the balance as of 30 June 2018 was unsecured (31 March 2018: more than 99% of the balance was unsecured; 31 December 2017: more than 99% of the balance was unsecured). |
Debt issued measured at amortiz
Debt issued measured at amortized cost (Tables) | 3 Months Ended |
Jun. 30, 2018 | |
Disclosure Of Financial Liabilities [Line Items] | |
Disclosure Of Detailed Information About Borrowings Explanatory | CHF million 30.6.18 31.3.18 31.12.17 Certificates of deposit 12,720 18,779 23,831 Commercial paper 28,878 23,304 23,532 Other short-term debt 3,730 4,078 3,590 Short-term debt 1 45,328 46,162 50,953 Senior unsecured debt 33,699 34,729 32,268 of which: issued by UBS AG with original maturity greater than one year 2 33,697 34,725 32,256 Senior unsecured debt that contributes to total loss-absorbing capacity 29,123 26,431 27,233 Covered bonds 4,029 4,105 4,112 Subordinated debt 16,931 18,030 16,555 of which: high-trigger loss-absorbing additional tier 1 capital instruments 7,119 6,898 5,187 of which: low-trigger loss-absorbing additional tier 1 capital instruments 2,359 2,342 2,383 of which: low-trigger loss-absorbing tier 2 capital instruments 6,748 8,097 8,286 of which: non-Basel III-compliant tier 2 capital instruments 705 694 700 Debt issued through the Swiss central mortgage institutions 8,357 8,349 8,345 Other long-term debt 63 77 87 of which: issued by UBS AG with original maturity greater than one year 2 54 58 66 Long-term debt 3 92,201 91,721 88,599 Total debt issued measured at amortized cost 4 137,530 137,883 139,551 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 30 June 2018 was unsecured (31 March 2018: 100% of the balance was unsecured; 31 December 2017: 100% of the balance was unsecured). 3 Debt with an 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. |
Provisions and contingent liabi
Provisions and contingent liabilities (Tables) | 3 Months Ended |
Jun. 30, 2018 | |
Disclosure Of Other Provisions [Line Items] | |
Total provisions recognized under both IAS 37 and IFRS 9 [textblock] | CHF million 30.6.18 31.3.18 31.12.17 Provisions recognized under IAS 37 3,012 2,937 3,100 Provisions for off-balance sheet financial instruments 1 76 72 33 Provisions for other credit lines 1 35 35 0 Total provisions 3,123 3,044 3,133 1 Provisions recognized in 2018 relate to exposures in the scope of the expected credit loss requirements of IFRS 9. Refer to Notes 9 and 19 for more information. 2017 provisions for off-balance sheet financial instruments relate to loss provisions recognized under IAS 37. |
Disclosure of provisions recognized under IAS 37 | CHF million Operational risks 1 Litigation, regulatory and similar matters 2 Restructuring Real estate Employee benefits 5 Other Total Balance as of 31 December 2017 43 2,444 322 134 68 89 3,100 Balance as of 31 March 2018 41 2,331 280 134 66 85 2,937 Increase in provisions recognized in the income statement 5 154 39 0 1 2 201 Release of provisions recognized in the income statement (1) (13) (29) 0 (2) 0 (44) Provisions used in conformity with designated purpose (4) (94) (48) (2) 0 (4) (151) Capitalized reinstatement costs 0 0 0 (2) 0 0 (2) Foreign currency translation / unwind of discount 0 64 6 1 0 0 71 Balance as of 30 June 2018 41 2,442 248 3 132 4 66 83 3,012 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 60 million as of 30 June 2018 (31 March 2018: CHF 63 million, 31 December 2017: CHF 83 million) and provisions for onerous lease contracts of CHF 183 million as of 30 June 2018 (31 March 2018: CHF 212 million, 31 December 2017: CHF 235 million). 4 Consists of reinstatement costs for leasehold improvements of CHF 90 million as of 30 June 2018 (31 March 2018: CHF 92 million, 31 December 2017: CHF 92 million) and provisions for onerous lease contracts of CHF 41 million as of 30 June 2018 (31 March 2018: CHF 42 million, 31 December 2017: CHF 41 million). 5 Includes provisions for sabbatical and anniversary awards as well as provisions for severance that are not part of restructuring provisions. |
Disclosure Of Legal Proceedings Provision Explanatory | Provisions for litigation, regulatory and similar matters by business division and Corporate Center unit 1 CHF million Global Wealth Manage- ment Personal & Corporate Banking Asset Manage- ment Investment Bank CC – Services CC – Group ALM CC – Non-core and Legacy Portfolio UBS Balance as of 31 December 2017 555 79 1 345 240 0 1,224 2,444 Balance as of 31 March 2018 546 79 1 323 216 0 1,166 2,331 Increase in provisions recognized in the income statement 69 0 0 3 1 0 82 154 Release of provisions recognized in the income statement (12) 0 0 0 0 0 0 (13) Provisions used in conformity with designated purpose (47) (3) 0 (1) 0 0 (42) (94) Foreign currency translation / unwind of discount 11 0 0 9 0 0 45 64 Balance as of 30 June 2018 567 75 0 333 216 0 1,251 2,442 1 Provisions, if any, for the matters described in this Note are recorded in Global Wealth Management (item 3 and 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 Global 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. |
Guarantees, commitments and f43
Guarantees, commitments and forward starting transactions (Tables) | 3 Months Ended |
Jun. 30, 2018 | |
Maximum Exposure To Credit Risk [Line Items] | |
Disclosure Of Credit Risk Exposure Explanatory | CHF million 30.6.18 Carrying amount ECL allowance Financial instruments measured at amortized cost Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Cash and balances at central banks 102,262 102,262 0 0 0 0 0 0 Loans and advances to banks 15,577 15,569 8 0 (4) (2) 0 (2) Receivables from securities financing transactions 76,450 76,450 0 0 (2) (2) 0 0 Cash collateral receivables on derivative instruments 24,937 24,937 0 0 0 0 0 0 Loans and advances to customers 318,278 293,041 23,612 1,625 (847) (53) (174) (620) of which: Private clients with mortgage 121,858 108,533 12,498 826 (122) (9) (79) (34) of which: Real estate financing 35,659 26,826 8,795 39 (60) (3) (49) (8) of which: Large corporate clients 10,486 9,841 555 91 (82) (5) (9) (68) of which: SME clients 9,920 8,055 1,284 581 (292) (8) (25) (258) of which: Lombard 116,795 116,779 0 16 (90) (4) 0 (86) of which: Credit cards 1,406 1,123 268 14 (37) (6) (11) (20) of which: Commodity trade finance 3,075 3,049 13 13 (88) (4) 0 (84) Other financial assets measured at amortized cost 20,996 20,188 292 516 (168) (39) (6) (123) of which: Loans to financial advisors 3,394 3,139 85 171 (124) (32) (2) (90) Total financial assets measured at amortized cost 1 558,500 532,447 23,912 2,141 (1,022) (97) (179) (746) Financial assets measured at fair value through other comprehensive income 6,941 6,941 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 565,441 539,388 23,912 2,141 (1,022) (97) (179) (746) Total exposure ECL provision Off-balance sheet (in scope of ECL) Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Guarantees 18,529 17,826 506 197 (34) (7) (1) (26) of which: Large corporate clients 3,818 3,462 218 138 (7) (1) 0 (5) of which: SME clients 1,262 996 221 45 (16) 0 (1) (15) of which: Financial intermediaries and hedge funds 7,473 7,464 9 0 (4) (4) 0 0 of which: Lombard 2,493 2,493 0 0 0 0 0 0 of which: Commodity trade finance 2,398 2,342 43 13 (4) (1) 0 (3) Irrevocable loan commitments 31,009 30,407 563 38 (42) (34) (8) 0 of which: Large corporate clients 21,914 21,342 550 22 (34) (27) (7) 0 Forward starting reverse repurchase and securities borrowing agreements 1,545 1,545 0 0 0 0 0 0 Committed unconditionally revocable credit lines 34,129 33,011 1,053 65 (33) (21) (13) 0 of which: Real estate financing 2,676 2,404 272 0 (16) (8) (8) 0 of which: Large corporate clients 4,065 4,000 65 0 (1) (1) 0 0 of which: SME clients 4,407 3,961 390 57 (8) (5) (2) 0 of which: Lombard 6,231 6,231 0 0 0 0 0 0 of which: Credit cards 6,980 6,712 267 0 (5) (3) (1) 0 of which: Commodity trade finance 2,707 2,703 0 5 (1) (1) 0 0 Irrevocable committed prolongation of existing loans 2,760 2,741 19 0 (1) (1) 0 0 Total off-balance sheet financial instruments and other credit lines 87,972 85,531 2,142 300 (111) (62) (23) (26) Total allowances and provisions (1,133) (159) (202) (772) 1 The carrying value of financial assets at amortized cost is net of the respective ECL allowances. CHF million 31.3.18 Carrying amount ECL allowance Financial instruments measured at amortized cost Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Cash and balances at central banks 92,800 92,800 0 0 0 0 0 0 Loans and advances to banks 13,338 13,300 38 0 (5) (3) 0 (2) Receivables from securities financing transactions 77,016 77,016 0 0 (2) (2) 0 0 Cash collateral receivables on derivative instruments 24,271 24,271 0 0 0 0 0 0 Loans and advances to customers 316,195 287,107 27,543 1,545 (838) (54) (162) (622) of which: Private clients with mortgage 120,535 104,614 15,149 772 (127) (11) (71) (44) of which: Real estate financing 36,003 26,415 9,553 36 (62) (3) (51) (8) of which: Large corporate clients 11,610 10,828 684 97 (62) (7) (2) (54) of which: SME clients 10,072 7,893 1,629 550 (281) (9) (24) (248) of which: Lombard 114,436 114,423 0 13 (86) (4) 0 (82) of which: Credit cards 1,334 1,069 252 14 (34) (5) (9) (19) of which: Commodity trade finance 3,008 2,942 61 5 (92) (4) (4) (85) Other financial assets measured at amortized cost 19,129 18,371 271 488 (146) (35) (5) (106) of which: Loans to financial advisors 3,326 3,104 74 149 (115) (28) (2) (85) Total financial assets measured at amortized cost 1 542,749 512,865 27,851 2,033 (992) (94) (168) (730) Financial assets measured at fair value through other comprehensive income 6,758 6,758 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 549,507 519,623 27,851 2,033 (992) (94) (168) (730) Total exposure ECL provision Off-balance sheet (in scope of ECL) Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Guarantees 17,404 16,624 577 203 (40) (7) (2) (31) of which: Large corporate clients 3,775 3,380 249 146 (10) (1) 0 (9) of which: SME clients 1,313 1,029 235 50 (16) 0 (1) (15) of which: Financial intermediaries and hedge funds 5,740 5,694 47 0 (3) (3) 0 0 of which: Lombard 2,537 2,537 0 0 0 0 0 0 of which: Commodity trade finance 1,783 1,752 24 7 (4) (1) 0 (3) Irrevocable loan commitments 29,746 29,181 547 18 (32) (24) (7) (1) of which: Large corporate clients 22,234 21,693 535 7 (26) (20) (5) (1) Forward starting reverse repurchase and securities borrowing agreements 1,231 1,231 0 0 0 0 0 0 Committed unconditionally revocable credit lines 35,892 33,937 1,879 75 (34) (17) (17) 0 of which: Real estate financing 2,942 2,134 808 0 (12) (2) (9) 0 of which: Large corporate clients 4,804 4,700 99 5 0 0 0 0 of which: SME clients 4,617 4,065 496 56 (7) (4) (3) 0 of which: Lombard 5,960 5,960 0 0 0 0 0 0 of which: Credit cards 6,879 6,609 269 0 (5) (4) (1) 0 of which: Commodity trade finance 3,413 3,307 92 14 (2) (1) (1) 0 Irrevocable committed prolongation of existing loans 1,912 1,912 0 0 (1) (1) 0 0 Total off-balance sheet financial instruments and other credit lines 86,184 82,885 3,003 296 (106) (49) (26) (32) Total allowances and provisions (1,098) (143) (194) (762) 1 The carrying value of financial assets at amortized cost is net of the respective ECL allowances. CHF million 1.1.18 Carrying amount ECL allowance Financial instruments measured at amortized cost Total Stage 1 Stage 2 Stage 3 2 Total Stage 1 Stage 2 Stage 3 Cash and balances at central banks 87,775 87,775 0 0 0 0 0 0 Loans and advances to banks 13,719 13,701 18 0 (5) (2) 0 (3) Receivables from securities financing transactions 84,674 84,674 0 0 (2) (2) 0 0 Cash collateral receivables on derivative instruments 23,434 23,434 0 0 0 0 0 0 Loans and advances to customers 310,451 281,149 27,812 1,491 (867) (61) (163) (644) of which: Private clients with mortgage 119,560 103,867 15,006 686 (124) (12) (69) (44) of which: Real estate financing 35,896 26,210 9,657 29 (62) (3) (53) (6) of which: Large corporate clients 11,004 10,358 557 88 (69) (6) 0 (63) of which: SME clients 10,322 8,218 1,518 585 (287) (8) (23) (256) of which: Lombard 111,748 111,731 0 17 (84) (5) 0 (79) Other financial assets measured at amortized cost 18,302 17,805 32 465 (136) (29) (1) (106) of which: Loans to financial advisors 3,086 2,874 32 179 (115) (28) (1) (87) Total financial assets measured at amortized cost 1 538,354 508,538 27,862 1,956 (1,011) (95) (164) (752) Financial assets measured at fair value through other comprehensive income 6,755 6,755 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 545,110 515,293 27,862 1,956 (1,011) (95) (164) (752) Total exposure ECL provision Off-balance sheet (in scope of ECL) Total Stage 1 Stage 2 Stage 3 2 Total Stage 1 Stage 2 Stage 3 Guarantees 17,152 16,331 633 189 (37) (6) (2) (29) Irrevocable loan commitments 30,852 30,153 662 37 (36) (24) (8) (4) of which: Large corporate clients 21,999 21,344 629 26 (27) (19) (4) (4) Forward starting reverse repurchase and securities borrowing agreements 1,216 1,216 0 0 0 0 0 0 Committed unconditionally revocable credit lines 36,690 34,471 2,157 62 (34) (19) (15) 0 of which: Real estate financing 3,103 2,097 1,007 0 (9) (2) (7) 0 of which: SME clients 4,770 4,311 406 53 (7) (5) (2) 0 Irrevocable committed prolongation of existing loans 1,635 1,634 0 1 0 0 0 0 Total off-balance sheet financial instruments and other credit lines 87,545 83,805 3,452 288 (107) (49) (24) (33) Total allowances and provisions (1,117) (144) (188) (785) 1 The carrying value of financial assets at amortized cost is net of the respective ECL allowances. 2 Upon adoption of IFRS 9 as of 1 January 2018, an instrument is classified as credit-impaired if the counterparty is defaulted, and / or the instrument is purchased or originated credit-impaired and includes credit impaired exposures for which no loss has occurred, or for which no allowance has been recognized (e.g., because they are expected to be fully recoverable through the collateral held). Refer to Note 19 for more information on the adoption of IFRS 9. |
Total off-balance sheet financial instruments and other credit lines | |
Maximum Exposure To Credit Risk [Line Items] | |
Disclosure Of Credit Risk Exposure Explanatory | Note 16 Guarantees, commitments and forward starting transactions The table below presents the maximum irrevocable amount of guarantees, commitments and forward starting transactions. 30.6.18 31.3.18 31.12.17 CHF million Gross Sub- participations Net Gross Sub- participations Net Gross Sub- participations Net Total guarantees 20,175 (2,976) 17,199 19,009 (2,923) 16,086 18,854 (2,867) 15,987 Loan commitments 39,567 (662) 38,905 34,534 (866) 33,667 39,069 (1,074) 37,995 Forward starting transactions 1 Reverse repurchase agreements 13,521 16,905 12,683 Securities borrowing agreements 38 35 23 Repurchase agreements 10,868 13,763 8,187 1 Cash to be paid in the future by either UBS or the counterparty. |
Currency translation rates (Tab
Currency translation rates (Tables) | 3 Months Ended |
Jun. 30, 2018 | |
Foreign Exchange Rates [Line Items] | |
Disclosure of foreign exchange rates [text block] | Spot rate Average rate 1 As of For the quarter ended Year-to-date 30.6.18 31.3.18 31.12.17 30.6.17 30.6.18 31.3.18 30.6.17 30.6.18 30.6.17 1 USD 0.99 0.95 0.97 0.96 0.99 0.94 0.97 0.97 0.99 1 EUR 1.16 1.17 1.17 1.10 1.17 1.16 1.09 1.16 1.08 1 GBP 1.31 1.34 1.32 1.25 1.33 1.32 1.26 1.32 1.26 100 JPY 0.89 0.90 0.86 0.85 0.90 0.88 0.87 0.89 0.88 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 quarter represent an average of three 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. |
Transition to IFRS 9 and IFRS45
Transition to IFRS 9 and IFRS 15 as of 1 January 2018 (Tables) | Jan. 01, 2018 |
Explanation Of First time Adoption Of IFRS9 [Line Items] | |
Retrospective amendments to UBS Group balance sheet presentation as of 31 December 2017 | Retrospective amendments to UBS Group balance sheet presentation as of 31 December 2017 CHF million 31.12.17 31.12.17 Assets References Former presentation Revised presentation 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) 1 89,633 Cash collateral on securities borrowed (newly included in Receivables from securities financing transactions) 1 12,393 Reverse repurchase agreements (newly included in Receivables from securities financing transactions) 1 77,240 Cash collateral receivables on derivative instruments 23,434 23,434 Loans and advances to customers (formerly: Loans) 2 319,568 318,509 Financial assets held to maturity (superseded) 3 9,166 Other financial assets measured at amortized cost (new line) 2,3,7 36,861 Total financial assets measured at amortized cost 569,950 Financial assets at fair value held for trading (formerly: Trading portfolio assets) 4 130,707 126,144 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) 5 58,933 Financial assets designated at fair value 5 58,933 Total financial assets measured at fair value through profit or loss 303,304 Financial assets available for sale (superseded) 6 8,665 Financial assets measured at fair value through other comprehensive income (new line) 6 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) 4,7 7,633 Other assets (superseded) 7 29,706 Total assets 915,642 915,642 Liabilities Amounts due to banks 7,533 7,533 Payables from securities financing transactions (new line) 8 17,044 Cash collateral on securities lent (newly included in Payables from securities financing transactions) 8 1,789 Repurchase agreements (newly included in Payables from securities financing transactions) 8 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) 10 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) 9 54,202 Debt issued designated at fair value (new line) 9 49,502 Other financial liabilities designated at fair value (new line) 9,10 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) 10 9,205 Other liabilities (superseded) 10 57,064 Total liabilities 864,371 864,371 Total liabilities and equity 915,642 915,642 |
Reclassification and remeasurement of carrying amounts and recognition of ECL upon adoption of IFRS 9 | Reclassification and remeasurement of carrying amounts and recognition of ECL upon adoption of IFRS 9 31.12.2017 1.1.2018 CHF million Classification under IAS 39 Carrying amount (IAS 39) Reclassification (of IAS 39 carrying amounts) Remeasurement due to reclassification incl. reversal of IAS 39 / IAS 37 allowances / provisions Recognition of ECL (IFRS 9) Carrying amount (IFRS 9) Assets Cash and balances at central banks Loans and receivables 87,775 0 87,775 Loans and advances to banks Loans and receivables 13,739 (17) (3) 12 13,719 to: Brokerage receivables Loans and receivables (17) 1 Receivables from securities financing transactions Loans and receivables 89,633 (4,957) (2) 12 84,674 to: Financial assets at fair value not held for trading Loans and receivables (4,957) 2 Cash collateral receivables on derivative instruments Loans and receivables 23,434 0 23,434 Loans and advances to customers Loans and receivables 318,509 (7,822) 0 (235) 12 310,451 to: Financial assets at fair value not held for trading Loans and receivables (2,678) 3 to: Brokerage receivables Loans and receivables (4,691) 1 to: Financial assets at fair value held for trading Loans and receivables (468) 4 from: Financial assets at fair value not held for trading FVTPL (designated) 8 5 0 from: Financial assets at fair value held for trading FVTPL (held for trading) 6 5 Other financial assets measured at amortized cost Loans and receivables, held to maturity 36,861 (18,525) 0 (35) 12 18,302 to: Brokerage receivables Loans and receivables (19,080) 1 from: Financial assets measured at fair value through other comprehensive income Available-for-sale 555 6 0 Total financial assets measured at amortized cost 569,950 (31,321) 0 (275) 538,354 Financial assets at fair value held for trading FVTPL (held for trading) 126,144 (10,854) (15) 115,275 to: Loans and advances to customers FVTPL (held for trading) (6) 5 to: Financial assets at fair value not held for trading FVTPL (held for trading) (11,316) 7 from: Loans and advances to customers Loans and receivables 468 4 (15) 4 of which: assets pledged as collateral that may be sold or repledged by counterparties FVTPL (held for trading) 35,363 35,363 Derivative financial instruments FVTPL (derivatives) 118,227 118,227 Brokerage receivables Loans and receivables 23,787 23,787 from: Loans and advances to banks Loans and receivables 17 1 from: Loans and advances to customers Loans and receivables 4,691 1 from: Other financial assets measured at amortized cost Loans and receivables 19,080 1 Financial assets at fair value not held for trading FVTPL (designated) 58,933 9 20,297 (287) 78,943 to: Loans and advances to customers FVTPL (designated) (8) 5 from: Financial assets at fair value held for trading FVTPL (held for trading) 11,316 7 from: Receivables from securities financing transactions Loans and receivables 4,957 2 (1) from: Loans and advances to customers Loans and receivables 2,678 3 (286) 3 from: Financial assets measured at fair value through other comprehensive income Available-for-sale 1,356 8 Total financial assets measured at fair value through profit or loss 303,304 33,231 (303) 336,232 Financial assets measured at fair value through other comprehensive income Available-for-sale 8,665 (1,911) 6,755 10 to: Other financial assets measured at amortized cost Available-for-sale (555) 6 to: Financial assets at fair value not held for trading Available-for-sale (1,356) 8 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 58 11 64 11 9,967 Other non-financial assets 7,633 7,633 Total assets 915,642 (245) (211) 915,187 Reclassification and remeasurement of carrying amounts and recognition of ECL upon adoption of IFRS 9 (continued) 31.12.2017 1.1.2018 CHF million Classification under IAS 39 Carrying amount (IAS 39) Reclassification (of IAS 39 carrying amounts) Remeasurement due to reclassification incl. reversal of IAS 39 / IAS 37 allowances / provisions Recognition of ECL (IFRS 9) Carrying amount (IFRS 9) Liabilities Amounts due to banks Amortized cost 7,533 7,533 Payables from securities financing transactions Amortized cost 17,044 (5,081) 11,963 to: Other financial liabilities designated at fair value Amortized cost (5,081) 13 Cash collateral payables on derivative instruments Amortized cost 30,247 30,247 Customer deposits Amortized cost 408,999 (5,268) 403,731 to: Brokerage payables designated at fair value Amortized cost (5,268) 14 Debt issued measured at amortized cost Amortized cost 139,551 139,551 Other financial liabilities measured at amortized cost Amortized cost 36,337 (29,646) (4) 6,686 to: Brokerage payables designated at fair value Amortized cost (29,646) 14 Derecognition: deferred fees on other loan commitments Amortized cost (4) 4 Total financial liabilities measured at amortized cost 639,711 (39,996) (4) 599,712 Financial liabilities at fair value held for trading FVTPL (held for trading) 30,463 30,463 Derivative financial instruments FVTPL (derivatives) 116,133 57 116,191 Recognition: Loan commitments Amortized cost – off-balance sheet 60 4 Derecognition: Loan commitments FVTPL (derivatives) (2) 5 Brokerage payables designated at fair value Amortized cost 34,915 34,915 from: Customer deposits Amortized cost 5,268 14 from: Other financial liabilities measured at amortized cost Amortized cost 29,646 14 Debt issued designated at fair value FVTPL (designated) 49,502 49,502 Other financial liabilities designated at fair value FVTPL (designated) 16,223 5,081 (5) 21,300 from: Payables from securities financing transactions Amortized cost 5,081 13 (5) 13 Total financial liabilities measured at fair value through profit or loss 212,322 39,996 53 252,370 Provisions 3,133 74 12 3,207 Other non-financial liabilities 9,205 9,205 Total liabilities 864,371 49 74 864,494 Equity Share capital 385 385 Share premium 25,942 25,942 Treasury shares (2,133) (2,133) Retained earnings 32,752 72 8,15 (293) (284) 32,247 Other comprehensive income recognized directly in equity, net of tax (5,732) (72) 8,15 (5,804) Equity attributable to shareholders 51,214 0 (293) 15 (284) 15 50,637 Equity attributable to non-controlling interests 57 57 Total equity 51,271 0 (293) (284) 50,694 Total liabilities and equity 915,642 0 (245) (211) 915,187 |
Issuance of long-term debt, including financial liabilities designated at fair value | Reconciliation of allowances and provisions on adoption of IFRS 9 31.12.2017 1.1.2018 CHF million Loss allowances and provisions (IAS 39 / IAS 37) Reversal of allowances (IAS 39) Recognition of ECL (IFRS 9) 1 Allowances for ECL / Provisions for ECL (IFRS 9) On-balance sheet Cash and balances at central banks 0 0 Loans and advances to banks (3) (3) (5) Receivables from securities financing transactions (2) (2) Cash collateral receivables on derivative instruments 0 Loans and advances to customers (658) 26 2 (235) 3 (867) Other financial assets measured at amortized cost (101) 4 (35) (136) Financial assets measured at fair value through other comprehensive income Total on-balance sheet (761) 26 (275) (1,011) Off-balance sheet financial instruments and other credit lines Guarantees (29) (8) (37) Loan commitments (4) (32) (36) Forward starting reverse repurchase and securities borrowing agreements Other credit lines (34) (34) Total off-balance sheet financial instruments and other credit lines (33) (74) (107) Total (794) 26 (348) (1,117) of which Stage 1 (144) (144) of which Stage 2 (188) (188) of which Stage 3 (16) 5 (785) 1 Includes stage 1 and stage 2 expected credit losses and additional stage 3 expected credit losses. 2 The reversal of CHF 26 million of IAS 39 loss allowances relates to instruments reclassified from amortized cost to fair value through profit or loss on transition to IFRS 9. Refer also to footnotes 3 and 4 to the table “Reclassification and remeasurement of carrying amounts and recognition of ECL upon adoption of IFRS 9.” 3 Includes the reversal of collective allowances of CHF 13 million. 4 Includes CHF 82 million related to loans to financial advisors for which an allowance was reported as a direct reduction of the carrying amount as of 31 December 2017. 5 The incremental increase in stage 3 allowances of CHF 16 million arises from additional consideration of forward looking scenarios under IFRS 9. |
IFRS 9 impact on other comprehensive income and retained earnings | IFRS 9 impact on other comprehensive income and retained earnings CHF million Other comprehensive income recognized directly in equity, net of tax Reclassification of financial assets (available for sale to fair value through profit or loss) – equity instruments (199) Reclassification of financial assets (available for sale to fair value through profit or loss) – debt instruments (5) Tax (expense) / benefit 131 Total change in other comprehensive income (72) Retained earnings Remeasurement of financial assets (reclassified from amortized cost to fair value through profit or loss) (303) Reclassification of financial assets (reclassified from available for sale to fair value through profit or loss) 204 Recognition of ECL for on-balance sheet financial assets (275) Remeasurement of financial liabilities (reclassified from amortized cost to designated at fair value through profit or loss) 5 Recognition of derivative loan commitments measured at fair value through profit or loss (60) Derecognition of liabilities for deferred fees on other loan commitments 4 Derecognition of derivative loan commitments measured at fair value through profit or loss 2 Recognition of ECL for off-balance sheet positions (74) Tax (expense) / benefit (9) Total change in retained earnings (505) Total change in equity due to the adoption of IFRS 9 (577) |
Significant accounting polici46
Significant accounting policies - Adoption of IFRS 9 and IFRS 15 (Narrative) (Details) SFr in Millions | Jan. 01, 2018CHF (SFr) |
Disclosure Significant Accounting Policies [Line Items] | |
Effect of adoption of IFRS 15, before tax | SFr (27) |
Adjustments to equity on adoption of IFRS 15 before tax to reflect deferral due to variable consideration constraint | (16) |
Adjustments to equity on adoption of IFRS 15 before tax to reflect deferral due to lack of enforceable right to a specified amount of consideration | SFr (11) |
Segment reporting (Narrative) (
Segment reporting (Narrative) (Detail) | 3 Months Ended |
Jun. 30, 2018 | |
Disclosure Of Operating Segments [Line Items] | |
Number of business divisions | 4 |
Segment reporting (Detail)
Segment reporting (Detail) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | ||||||||||
Jun. 30, 2018 | Mar. 31, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Jan. 01, 2018 | Dec. 31, 2017 | ||||||
Disclosure Of Operating Segments [Line Items] | ||||||||||||
Net interest income | [1] | SFr 2,729 | SFr 3,113 | |||||||||
Non-interest income | [1] | 12,577 | 11,734 | |||||||||
Allocations from CC - Group ALM | [1] | 0 | 0 | |||||||||
Income | [1] | 15,305 | 14,847 | |||||||||
Credit loss (expense) / recovery | SFr (28) | SFr (25) | SFr (46) | (53) | [1] | (46) | [1] | |||||
Total operating income | 7,554 | 7,698 | 7,269 | 15,252 | [1] | 14,801 | [1] | |||||
Personnel expenses | 4,059 | 4,014 | 4,014 | 8,073 | [1] | 8,074 | [1] | |||||
General and administrative expenses | 1,516 | 1,424 | 1,488 | 2,940 | [1] | 2,994 | [1] | |||||
Services (to) / from CC and other BDs | [1] | 0 | 0 | |||||||||
of which: services from CC - Services | [1] | 0 | 0 | |||||||||
Depreciation and impairment of property, equipment and software | 284 | 272 | 249 | 556 | [1] | 505 | [1] | |||||
Amortization and impairment of intangible assets | 16 | 16 | 16 | 32 | [1] | 37 | [1] | |||||
Total operating expenses | 5,875 | 5,725 | 5,767 | 11,600 | [1] | 11,609 | [1] | |||||
Operating profit / (loss) before tax | 1,679 | 1,973 | 1,502 | 3,652 | [1] | 3,192 | [1] | |||||
Tax expense / (benefit) | 394 | 457 | 327 | 851 | [1] | 701 | [1] | |||||
Net profit / (loss) | 1,285 | 1,516 | SFr 1,175 | 2,801 | [1],[2] | 2,490 | [1],[2] | |||||
Total assets | 944,482 | [1] | SFr 919,361 | 944,482 | [1] | SFr 915,187 | SFr 915,642 | [1] | ||||
Global Wealth Management | ||||||||||||
Disclosure Of Operating Segments [Line Items] | ||||||||||||
Net interest income | [1] | 1,998 | 1,764 | |||||||||
Non-interest income | [1] | 6,264 | 5,986 | |||||||||
Allocations from CC - Group ALM | [1] | 88 | 190 | |||||||||
Income | [1] | 8,350 | 7,940 | |||||||||
Credit loss (expense) / recovery | [1] | 2 | (2) | |||||||||
Total operating income | [1] | 8,352 | 7,938 | |||||||||
Personnel expenses | [1] | 3,766 | 3,758 | |||||||||
General and administrative expenses | [1] | 589 | 578 | |||||||||
Services (to) / from CC and other BDs | [1] | 1,805 | 1,757 | |||||||||
of which: services from CC - Services | [1] | 1,755 | 1,703 | |||||||||
Depreciation and impairment of property, equipment and software | [1] | 2 | 2 | |||||||||
Amortization and impairment of intangible assets | [1] | 25 | 23 | |||||||||
Total operating expenses | [1] | 6,187 | 6,119 | |||||||||
Operating profit / (loss) before tax | [1] | 2,165 | 1,819 | |||||||||
Total assets | [1] | 197,729 | 197,729 | 190,074 | ||||||||
Personal & Corporate Banking | ||||||||||||
Disclosure Of Operating Segments [Line Items] | ||||||||||||
Net interest income | [1] | 989 | 940 | |||||||||
Non-interest income | [1] | 897 | 870 | |||||||||
Allocations from CC - Group ALM | [1] | 29 | 103 | |||||||||
Income | [1] | 1,915 | 1,914 | |||||||||
Credit loss (expense) / recovery | [1] | (35) | (21) | |||||||||
Total operating income | [1] | 1,880 | 1,893 | |||||||||
Personnel expenses | [1] | 398 | 437 | |||||||||
General and administrative expenses | [1] | 115 | 134 | |||||||||
Services (to) / from CC and other BDs | [1] | 573 | 542 | |||||||||
of which: services from CC - Services | [1] | 615 | 587 | |||||||||
Depreciation and impairment of property, equipment and software | [1] | 6 | 6 | |||||||||
Amortization and impairment of intangible assets | [1] | 0 | 0 | |||||||||
Total operating expenses | [1] | 1,093 | 1,119 | |||||||||
Operating profit / (loss) before tax | [1] | 787 | 774 | |||||||||
Total assets | [1] | 135,929 | 135,929 | 135,556 | ||||||||
Asset Management | ||||||||||||
Disclosure Of Operating Segments [Line Items] | ||||||||||||
Net interest income | [1] | (16) | (15) | |||||||||
Non-interest income | [1] | 907 | 935 | |||||||||
Allocations from CC - Group ALM | [1] | 7 | 9 | |||||||||
Income | [1] | 899 | 929 | |||||||||
Credit loss (expense) / recovery | [1] | 0 | 0 | |||||||||
Total operating income | [1] | 899 | 929 | |||||||||
Personnel expenses | [1] | 356 | 357 | |||||||||
General and administrative expenses | [1] | 97 | 109 | |||||||||
Services (to) / from CC and other BDs | [1] | 237 | 247 | |||||||||
of which: services from CC - Services | [1] | 258 | 266 | |||||||||
Depreciation and impairment of property, equipment and software | [1] | 1 | 1 | |||||||||
Amortization and impairment of intangible assets | [1] | 1 | 2 | |||||||||
Total operating expenses | [1] | 692 | 716 | |||||||||
Operating profit / (loss) before tax | [1] | 207 | 213 | |||||||||
Total assets | [1] | 27,570 | 27,570 | 14,269 | ||||||||
Investment Bank | ||||||||||||
Disclosure Of Operating Segments [Line Items] | ||||||||||||
Net interest income | [1] | 290 | 452 | |||||||||
Non-interest income | [1] | 4,413 | 3,859 | |||||||||
Allocations from CC - Group ALM | [1] | (204) | (174) | |||||||||
Income | [1] | 4,499 | 4,137 | |||||||||
Credit loss (expense) / recovery | [1] | (21) | (12) | |||||||||
Total operating income | [1] | 4,478 | 4,124 | |||||||||
Personnel expenses | [1] | 1,667 | 1,591 | |||||||||
General and administrative expenses | [1] | 287 | 256 | |||||||||
Services (to) / from CC and other BDs | [1] | 1,357 | 1,335 | |||||||||
of which: services from CC - Services | [1] | 1,313 | 1,287 | |||||||||
Depreciation and impairment of property, equipment and software | [1] | 4 | 5 | |||||||||
Amortization and impairment of intangible assets | [1] | 5 | 6 | |||||||||
Total operating expenses | [1] | 3,320 | 3,194 | |||||||||
Operating profit / (loss) before tax | [1] | 1,158 | 931 | |||||||||
Total assets | [1] | 262,221 | 262,221 | 262,931 | ||||||||
Corporate Center - Services | ||||||||||||
Disclosure Of Operating Segments [Line Items] | ||||||||||||
Net interest income | [1] | (179) | (153) | |||||||||
Non-interest income | [1] | 37 | 55 | |||||||||
Allocations from CC - Group ALM | [1] | 25 | 60 | |||||||||
Income | [1] | (116) | (37) | |||||||||
Credit loss (expense) / recovery | [1] | 0 | 0 | |||||||||
Total operating income | [1] | (116) | (37) | |||||||||
Personnel expenses | [1] | 1,847 | 1,888 | |||||||||
General and administrative expenses | [1] | 1,766 | 1,920 | |||||||||
Services (to) / from CC and other BDs | [1] | (4,065) | (3,984) | |||||||||
of which: services from CC - Services | [1] | (4,101) | (4,006) | |||||||||
Depreciation and impairment of property, equipment and software | [1] | 542 | 491 | |||||||||
Amortization and impairment of intangible assets | [1] | 1 | 6 | |||||||||
Total operating expenses | [1] | 92 | 321 | |||||||||
Operating profit / (loss) before tax | [1] | (207) | (358) | |||||||||
Total assets | [1] | 20,944 | 20,944 | 20,875 | ||||||||
Corporate Center - Group ALM | ||||||||||||
Disclosure Of Operating Segments [Line Items] | ||||||||||||
Net interest income | [1] | (368) | 115 | |||||||||
Non-interest income | [1] | (121) | (5) | |||||||||
Allocations from CC - Group ALM | [1] | 100 | (139) | |||||||||
Income | [1] | (389) | (30) | |||||||||
Credit loss (expense) / recovery | [1] | 0 | 0 | |||||||||
Total operating income | [1] | (389) | (30) | |||||||||
Personnel expenses | [1] | 18 | 17 | |||||||||
General and administrative expenses | [1] | 20 | 7 | |||||||||
Services (to) / from CC and other BDs | [1] | 1 | (13) | |||||||||
of which: services from CC - Services | [1] | 81 | 65 | |||||||||
Depreciation and impairment of property, equipment and software | [1] | 0 | 0 | |||||||||
Amortization and impairment of intangible assets | [1] | 0 | 0 | |||||||||
Total operating expenses | [1] | 39 | 12 | |||||||||
Operating profit / (loss) before tax | [1] | (428) | (41) | |||||||||
Total assets | [1] | 261,308 | 261,308 | 245,737 | ||||||||
Non-core and Legacy Portfolio | ||||||||||||
Disclosure Of Operating Segments [Line Items] | ||||||||||||
Net interest income | [1] | 13 | 10 | |||||||||
Non-interest income | [1] | 180 | 34 | |||||||||
Allocations from CC - Group ALM | [1] | (44) | (50) | |||||||||
Income | [1] | 148 | (6) | |||||||||
Credit loss (expense) / recovery | [1] | (1) | (11) | |||||||||
Total operating income | [1] | 147 | (16) | |||||||||
Personnel expenses | [1] | 19 | 25 | |||||||||
General and administrative expenses | [1] | 66 | (12) | |||||||||
Services (to) / from CC and other BDs | [1] | 91 | 116 | |||||||||
of which: services from CC - Services | [1] | 79 | 97 | |||||||||
Depreciation and impairment of property, equipment and software | [1] | 0 | 0 | |||||||||
Amortization and impairment of intangible assets | [1] | 0 | 0 | |||||||||
Total operating expenses | [1] | 177 | 129 | |||||||||
Operating profit / (loss) before tax | [1] | (30) | SFr (146) | |||||||||
Total assets | [1] | SFr 38,781 | SFr 38,781 | SFr 46,200 | ||||||||
[1] | Prior period information may not be comparable as a result of the adoption of IFRS 9, Financial Instruments and IFRS 15, Revenue from Contracts with Customers, both effective 1 January 2018. Refer to Note 1 for more information on these changes. | |||||||||||
[2] | Upon adoption of IFRS 9 on 1 January 2018, cash flows from certain financial instruments have been reclassified from investing to operating activities. Refer to Note 19 for more information. |
Net fee and commission income49
Net fee and commission income (Detail) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2018 | Mar. 31, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | ||
Net fee And Commission Income [Line Items] | ||||||
Underwriting Fees | [1] | SFr 183 | SFr 224 | SFr 274 | SFr 407 | SFr 552 |
of which: equity underwriting fees | [1] | 88 | 118 | 148 | 206 | 310 |
of which: debt underwriting fees | [1] | 95 | 106 | 125 | 201 | 242 |
M&A and corporate finance fees | [1] | 178 | 194 | 170 | 372 | 347 |
Brokerage fees | [1] | 877 | 968 | 945 | 1,845 | 1,967 |
Investment fund fees | [1] | 1,213 | 1,207 | 1,046 | 2,420 | 2,107 |
Portfolio management and related services | [1] | 1,902 | 1,837 | 1,852 | 3,739 | 3,646 |
Other | [1] | 440 | 452 | 457 | 893 | 915 |
Total fee and commission income | [1],[2] | 4,793 | 4,882 | 4,744 | 9,675 | 9,533 |
Brokerage fees paid | [1] | 75 | 85 | 179 | 160 | 344 |
Other | [1] | 342 | 324 | 270 | 666 | 541 |
Total fee and commission expense | [1] | 417 | 409 | 449 | 826 | 885 |
Net fee and commission income | [1] | 4,377 | 4,473 | 4,295 | 8,850 | 8,648 |
of which: net brokerage fees | [1] | 802 | 884 | 766 | 1,685 | 1,623 |
Global Wealth Management | ||||||
Net fee And Commission Income [Line Items] | ||||||
Total fee and commission income | 2,832 | 2,891 | ||||
Personal & Corporate Banking | ||||||
Net fee And Commission Income [Line Items] | ||||||
Total fee and commission income | 301 | 300 | ||||
Asset Management | ||||||
Net fee And Commission Income [Line Items] | ||||||
Total fee and commission income | 801 | 777 | ||||
Investment Bank | ||||||
Net fee And Commission Income [Line Items] | ||||||
Total fee and commission income | 857 | 900 | ||||
Corporate Center | ||||||
Net fee And Commission Income [Line Items] | ||||||
Total fee and commission income | 3 | 14 | ||||
Reclassification from Underwriting fees to Brokerage fees | ||||||
Net fee And Commission Income [Line Items] | ||||||
Amount Of Reclassifications Or Changes In Presentation | 83 | 164 | ||||
Reclassification from Portfolio management and related services to Investment fund fees | ||||||
Net fee And Commission Income [Line Items] | ||||||
Amount Of Reclassifications Or Changes In Presentation | SFr 255 | SFr 499 | ||||
of which: recurring | ||||||
Net fee And Commission Income [Line Items] | ||||||
Total fee and commission income | [1],[2] | 3,161 | 3,071 | 6,232 | ||
of which: transaction-based | ||||||
Net fee And Commission Income [Line Items] | ||||||
Total fee and commission income | [1],[2] | 1,611 | 1,793 | 3,404 | ||
of which: performance-based | ||||||
Net fee And Commission Income [Line Items] | ||||||
Total fee and commission income | [1],[2] | SFr 22 | SFr 17 | SFr 39 | ||
[1] | Upon adoption of IFRS 15, certain brokerage fees paid in an agency capacity have been reclassified from Fee and commission expense to Fee and commission income on a prospective basis from 1 January 2018, primarily relating to third-party execution costs for exchange-traded derivative transactions and fees payable to third-party research providers on behalf of clients. In addition to the IFRS 15 changes, certain revenues, primarily distribution fees and fund management fees, have been reclassified between reporting lines to better reflect the nature of the revenues with prior period information restated accordingly. This resulted in the following impacts: for the quarter ended 30 June 2017, CHF 83 million was reclassified from Underwriting fees to Brokerage fees and CHF 255 million was reclassified from Portfolio management and related services to Investment fund fees. For the first six months of 2017, CHF 164 million was reclassified from total Underwriting fees to Brokerage fees and CHF 499 million was reclassified from Portfolio management and related services to Investment fund fees. Also, certain expenses that are incremental and incidental to revenues have been reclassified prospectively from General and administrative expenses to Fee and commission expense to improve the alignment of transaction-based costs with the associated revenue stream, primarily impacting clearing costs, client loyalty costs, fund and custody expenses. As the impact of this reclassification was not material, prior period information was not restated. | |||||
[2] | Reflects third-party fee and commission income for the second quarter of 2018 of CHF 2,832 million for Global Wealth Management (first quarter of 2018: CHF 2,891 million), CHF 301 million for Personal & Corporate Banking (first quarter of 2018: CHF 300 million), CHF 801 million for Asset Management (first quarter of 2018: CHF 777 million), CHF 857 million for the Investment Bank (first quarter of 2018: CHF 900 million) and CHF 3 million for Corporate Center (first quarter of 2018: CHF 14 million). |
Other income (Detail)
Other income (Detail) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2018 | Mar. 31, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | ||
Associates, joint ventures and subsidiaries | ||||||
Net gains / (losses) from disposals of subsidiaries | [1] | SFr (10) | SFr 0 | SFr (18) | SFr (10) | SFr (22) |
Share of net profits of associates and joint ventures | 15 | 15 | 17 | 30 | 36 | |
Total | 5 | 15 | (2) | 20 | 14 | |
Financial assets measured at fair value through other comprehensive income | ||||||
Net gains / (losses) from disposals | 0 | 0 | 129 | 0 | 136 | |
Impairments | 0 | 0 | 1 | 0 | (13) | |
Total | 0 | 0 | 131 | 0 | 123 | |
Net income from properties (excluding net gains / (losses) from disposals) | [2] | 6 | 6 | 6 | 12 | 12 |
Net gains / (losses) from disposals of properties held for sale | 0 | 0 | 0 | 0 | (1) | |
Net gains / (losses) from disposals of financial assets measured at amortized cost | (1) | 0 | (2) | 0 | 16 | |
Other | 23 | 19 | 14 | 42 | 26 | |
Total other income | SFr 34 | SFr 40 | SFr 147 | SFr 74 | SFr 190 | |
[1] | Includes foreign exchange gains / (losses) reclassified from other comprehensive income related to disposed foreign subsidiaries and branches. | |||||
[2] | Includes net rent received from third parties and net operating expenses. |
Personnel expenses (Detail)
Personnel expenses (Detail) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||||||
Jun. 30, 2018 | Mar. 31, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |||||
Personnel Expenses [Line Items] | |||||||||
Salaries and variable compensation | SFr 2,430 | SFr 2,585 | SFr 2,428 | SFr 5,014 | SFr 4,871 | ||||
Financial advisor variable compensation | [1] | 996 | 974 | 992 | 1,970 | 1,979 | |||
Contractors | 127 | 116 | 107 | 243 | 200 | ||||
Social security | 195 | 229 | 187 | 423 | 389 | ||||
Pension and other post-employment benefit plans | 169 | (30) | [2] | 169 | 138 | [2] | 369 | ||
Other personnel expenses | 142 | 141 | 130 | 284 | 266 | ||||
Total personnel expenses | 4,059 | 4,014 | 4,014 | 8,073 | [3] | 8,074 | [3] | ||
Profit / (loss) before tax | SFr 1,679 | 1,973 | SFr 1,502 | SFr 3,652 | [3] | SFr 3,192 | [3] | ||
Changes to Pension Fund of UBS in Switzerland | |||||||||
Personnel Expenses [Line Items] | |||||||||
Profit / (loss) before tax | SFr 225 | ||||||||
[1] | Financial advisor variable compensation consists of grid-based compensation based directly on compensable revenues generated by financial advisors and supplemental compensation calculated on the basis of 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. | ||||||||
[2] | Changes to the Pension Fund of UBS in Switzerland in the first quarter of 2018 resulted in a reduction in the pension obligation recognized by UBS. As a consequence, a pre-tax gain of CHF 225 million was recognized in the income statement in the first quarter of 2018, with no overall effect on total equity. Refer to “Note 5 Personnel expenses” in the “Consolidated financial statements” section of the first quarter 2018 report for more information. | ||||||||
[3] | Prior period information may not be comparable as a result of the adoption of IFRS 9, Financial Instruments and IFRS 15, Revenue from Contracts with Customers, both effective 1 January 2018. Refer to Note 1 for more information on these changes. |
General and administrative ex52
General and administrative expenses (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | ||||||
Jun. 30, 2018 | Mar. 31, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | ||||
General And Administrative Expenses [Line Items] | ||||||||
Occupancy | SFr 221 | SFr 219 | SFr 217 | SFr 441 | SFr 438 | |||
Rent and maintenance of IT and other equipment | 148 | 150 | 135 | 299 | 279 | |||
Communication and market data services | 154 | 152 | 148 | 306 | 304 | |||
Administration | 71 | 135 | 102 | 207 | 201 | |||
of which: UK bank levy | [1] | (45) | 0 | (46) | (45) | (71) | ||
Marketing and public relations | 84 | 80 | 93 | 164 | 186 | |||
Travel and entertainment | 112 | 93 | 110 | 204 | 197 | |||
Professional fees | 237 | 231 | 276 | 468 | 532 | |||
Outsourcing of IT and other services | 347 | 340 | 362 | 687 | 745 | |||
Litigation, regulatory and similar matters | [2] | 131 | (11) | 9 | 120 | 42 | ||
Other | 10 | 34 | 35 | 44 | 69 | |||
Total general and administrative expenses | 1,516 | 1,424 | 1,488 | SFr 2,940 | [3] | SFr 2,994 | [3] | |
Recoveries from third parties | SFr 10 | SFr 17 | SFr 1 | |||||
[1] | The credits presented for the periods shown are related to prior years. | |||||||
[2] | Reflects the net increase / (decrease) in provisions for litigation, regulatory and similar matters recognized in the income statement. Refer to Note 15 for more information. Also includes recoveries from third parties (second quarter of 2018: CHF 10 million; first quarter of 2018: CHF 17 million; second quarter of 2017: CHF 1 million). | |||||||
[3] | Prior period information may not be comparable as a result of the adoption of IFRS 9, Financial Instruments and IFRS 15, Revenue from Contracts with Customers, both effective 1 January 2018. Refer to Note 1 for more information on these changes. |
Income taxes (Narrative) (Detai
Income taxes (Narrative) (Detail) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||||
Jun. 30, 2018 | Mar. 31, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | [1] | Jun. 30, 2017 | [1] | |
Major Components Of Tax Expense Income [Line Items] | |||||||
Current tax expense | SFr 196 | SFr 194 | |||||
Deferred tax expense | 198 | 133 | |||||
Income tax expense | SFr 394 | SFr 457 | SFr 327 | SFr 851 | SFr 701 | ||
[1] | Prior period information may not be comparable as a result of the adoption of IFRS 9, Financial Instruments and IFRS 15, Revenue from Contracts with Customers, both effective 1 January 2018. Refer to Note 1 for more information on these changes. |
Earnings per share and shares54
Earnings per share and shares outstanding (Detail) - CHF (SFr) SFr / shares in Units, SFr in Millions | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2018 | Mar. 31, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | ||
Basic earnings | ||||||
Net profit / (loss) attributable to shareholders | SFr 1,284 | SFr 1,514 | SFr 1,174 | SFr 2,798 | SFr 2,443 | |
Diluted earnings | ||||||
Net profit / (loss) attributable to shareholders | 1,284 | 1,514 | 1,174 | 2,798 | 2,443 | |
Less: (profit) / loss on own equity derivative contracts | (1) | (1) | 0 | (2) | 0 | |
Net profit / (loss) attributable to shareholders for diluted EPS | SFr 1,283 | SFr 1,513 | SFr 1,174 | SFr 2,796 | SFr 2,443 | |
Weighted average shares outstanding | ||||||
Weighted average shares outstanding for basic EPS | [1] | 3,750,246,679 | 3,728,701,542 | 3,715,138,875 | 3,739,474,111 | 3,714,042,783 |
Effect of dilutive potential shares resulting from notional shares, in-the-money options and warrants outstanding | 99,757,026 | 128,521,488 | 110,988,858 | 114,179,416 | 117,296,611 | |
Weighted average shares outstanding for diluted EPS | 3,850,003,705 | 3,857,223,030 | 3,826,127,733 | 3,853,653,527 | 3,831,339,394 | |
Earnings per share (CHF) | ||||||
Basic | SFr 0.34 | SFr 0.41 | SFr 0.32 | SFr 0.75 | SFr 0.66 | |
Diluted | SFr 0.33 | SFr 0.39 | SFr 0.31 | SFr 0.73 | SFr 0.64 | |
Shares outstanding | ||||||
Shares issued | 3,854,589,552 | 3,854,297,125 | 3,851,805,058 | 3,854,589,552 | 3,851,805,058 | |
Treasury shares | 125,469,362 | 93,077,090 | 135,182,950 | 125,469,362 | 135,182,950 | |
Shares outstanding | 3,729,120,190 | 3,761,220,035 | 3,716,622,108 | 3,729,120,190 | 3,716,622,108 | |
[1] | The weighted average shares outstanding for basic EPS are calculated by taking the number of shares at the beginning of the period, adjusted by the number of shares acquired or issued during the period, multiplied by a time-weighted factor for the period outstanding. As a result, balances are affected by the timing of acquisitions and issuances during the period. |
Potentially dilutive instrument
Potentially dilutive instruments (Detail) - shares | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2018 | Mar. 31, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Potentially Dilutive Instruments [Line Items] | |||||
Employee share-based compensation awards | 6,592,571 | 7,283,110 | 30,018,635 | 6,592,571 | 30,018,635 |
Other equity derivative contracts | 11,499,172 | 7,757,622 | 12,185,977 | 10,774,521 | 11,904,237 |
Total | 18,091,743 | 15,040,732 | 42,204,612 | 17,367,092 | 41,922,872 |
Expected credit loss measurem56
Expected credit loss measurement - Carrying amount (Detail) - CHF (SFr) SFr in Millions | Jun. 30, 2018 | Mar. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | [1] | SFr 76 | SFr 72 | SFr 33 | ||
Gross Carrying Amount [Member] | Total on-balance sheet financial assets in scope of ECL requirements | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 565,441 | 549,507 | SFr 545,110 | |||
Gross Carrying Amount [Member] | Total financial assets measured at amortized cost | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | [2] | 558,500 | 542,749 | 538,354 | ||
Gross Carrying Amount [Member] | Cash and balances at central banks | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 102,262 | 92,800 | 87,775 | |||
Gross Carrying Amount [Member] | Loans and advances to banks | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 15,577 | 13,338 | 13,719 | |||
Gross Carrying Amount [Member] | Receivables from securities financing transactions | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 76,450 | 77,016 | 84,674 | |||
Gross Carrying Amount [Member] | Cash collateral receivables on derivative instruments | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 24,937 | 24,271 | 23,434 | |||
Gross Carrying Amount [Member] | Loans and advances to customers | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 318,278 | 316,195 | 310,451 | |||
Gross Carrying Amount [Member] | Loans and advances to customers | Private clients with mortgage | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 121,858 | 120,535 | 119,560 | |||
Gross Carrying Amount [Member] | Loans and advances to customers | Real estate financing | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 35,659 | 36,003 | 35,896 | |||
Gross Carrying Amount [Member] | Loans and advances to customers | Large corporate clients | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 10,486 | 11,610 | 11,004 | |||
Gross Carrying Amount [Member] | Loans and advances to customers | SME clients | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 9,920 | 10,072 | 10,322 | |||
Gross Carrying Amount [Member] | Loans and advances to customers | Lombard | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 116,795 | 114,436 | 111,748 | |||
Gross Carrying Amount [Member] | Loans and advances to customers | Credit cards | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 1,406 | 1,334 | ||||
Gross Carrying Amount [Member] | Loans and advances to customers | Commodity trade finance | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 3,075 | 3,008 | ||||
Gross Carrying Amount [Member] | Other financial assets measured at amortized cost | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 20,996 | 19,129 | 18,302 | |||
Gross Carrying Amount [Member] | Loans to financial advisors | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 3,394 | 3,326 | 3,086 | |||
Gross Carrying Amount [Member] | Financial assets measured at fair value through other comprehensive income | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 6,941 | 6,758 | 6,755 | |||
Gross Carrying Amount [Member] | Total off-balance sheet financial instruments and other credit lines | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 87,972 | 86,184 | 87,545 | |||
Gross Carrying Amount [Member] | Guarantees | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 18,529 | 17,404 | 17,152 | |||
Gross Carrying Amount [Member] | Guarantees | Large corporate clients | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 3,818 | 3,775 | ||||
Gross Carrying Amount [Member] | Guarantees | SME clients | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 1,262 | 1,313 | ||||
Gross Carrying Amount [Member] | Guarantees | Financial intermediaries and hedge funds | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 7,473 | 5,740 | ||||
Gross Carrying Amount [Member] | Guarantees | Lombard | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 2,493 | 2,537 | ||||
Gross Carrying Amount [Member] | Guarantees | Commodity trade finance | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 2,398 | 1,783 | ||||
Gross Carrying Amount [Member] | Irrevocable loan commitments | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 31,009 | 29,746 | 30,852 | |||
Gross Carrying Amount [Member] | Irrevocable loan commitments | Large corporate clients | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 21,914 | 22,234 | 21,999 | |||
Gross Carrying Amount [Member] | Forward starting transactions, reverse repurchase and securities borrowing agreements | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 1,545 | 1,231 | 1,216 | |||
Gross Carrying Amount [Member] | Committed unconditionally revocable credit lines | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 34,129 | 35,892 | 36,690 | |||
Gross Carrying Amount [Member] | Committed unconditionally revocable credit lines | Real estate financing | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 2,676 | 2,942 | 3,103 | |||
Gross Carrying Amount [Member] | Committed unconditionally revocable credit lines | Large corporate clients | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 4,065 | 4,804 | ||||
Gross Carrying Amount [Member] | Committed unconditionally revocable credit lines | SME clients | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 4,407 | 4,617 | 4,770 | |||
Gross Carrying Amount [Member] | Committed unconditionally revocable credit lines | Lombard | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 6,231 | 5,960 | ||||
Gross Carrying Amount [Member] | Committed unconditionally revocable credit lines | Credit cards | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 6,980 | 6,879 | ||||
Gross Carrying Amount [Member] | Committed unconditionally revocable credit lines | Commodity trade finance | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 2,707 | 3,413 | ||||
Gross Carrying Amount [Member] | Irrevocable committed prolongation of existing loans | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 2,760 | 1,912 | 1,635 | |||
Gross Carrying Amount [Member] | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Total on-balance sheet financial assets in scope of ECL requirements | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 539,388 | 519,623 | 515,293 | |||
Gross Carrying Amount [Member] | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Total financial assets measured at amortized cost | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | [2] | 532,447 | 512,865 | 508,538 | ||
Gross Carrying Amount [Member] | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Cash and balances at central banks | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 102,262 | 92,800 | 87,775 | |||
Gross Carrying Amount [Member] | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to banks | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 15,569 | 13,300 | 13,701 | |||
Gross Carrying Amount [Member] | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Receivables from securities financing transactions | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 76,450 | 77,016 | 84,674 | |||
Gross Carrying Amount [Member] | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Cash collateral receivables on derivative instruments | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 24,937 | 24,271 | 23,434 | |||
Gross Carrying Amount [Member] | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 293,041 | 287,107 | 281,149 | |||
Gross Carrying Amount [Member] | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Private clients with mortgage | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 108,533 | 104,614 | 103,867 | |||
Gross Carrying Amount [Member] | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Real estate financing | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 26,826 | 26,415 | 26,210 | |||
Gross Carrying Amount [Member] | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Large corporate clients | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 9,841 | 10,828 | 10,358 | |||
Gross Carrying Amount [Member] | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | SME clients | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 8,055 | 7,893 | 8,218 | |||
Gross Carrying Amount [Member] | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Lombard | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 116,779 | 114,423 | 111,731 | |||
Gross Carrying Amount [Member] | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Credit cards | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 1,123 | 1,069 | ||||
Gross Carrying Amount [Member] | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Commodity trade finance | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 3,049 | 2,942 | ||||
Gross Carrying Amount [Member] | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Other financial assets measured at amortized cost | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 20,188 | 18,371 | 17,805 | |||
Gross Carrying Amount [Member] | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans to financial advisors | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 3,139 | 3,104 | 2,874 | |||
Gross Carrying Amount [Member] | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Financial assets measured at fair value through other comprehensive income | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 6,941 | 6,758 | 6,755 | |||
Gross Carrying Amount [Member] | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Total off-balance sheet financial instruments and other credit lines | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 85,531 | 82,885 | 83,805 | |||
Gross Carrying Amount [Member] | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 17,826 | 16,624 | 16,331 | |||
Gross Carrying Amount [Member] | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | Large corporate clients | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 3,462 | 3,380 | ||||
Gross Carrying Amount [Member] | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | SME clients | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 996 | 1,029 | ||||
Gross Carrying Amount [Member] | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | Financial intermediaries and hedge funds | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 7,464 | 5,694 | ||||
Gross Carrying Amount [Member] | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | Lombard | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 2,493 | 2,537 | ||||
Gross Carrying Amount [Member] | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | Commodity trade finance | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 2,342 | 1,752 | ||||
Gross Carrying Amount [Member] | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Irrevocable loan commitments | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 30,407 | 29,181 | 30,153 | |||
Gross Carrying Amount [Member] | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Irrevocable loan commitments | Large corporate clients | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 21,342 | 21,693 | 21,344 | |||
Gross Carrying Amount [Member] | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Forward starting transactions, reverse repurchase and securities borrowing agreements | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 1,545 | 1,231 | 1,216 | |||
Gross Carrying Amount [Member] | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 33,011 | 33,937 | 34,471 | |||
Gross Carrying Amount [Member] | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | Real estate financing | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 2,404 | 2,134 | 2,097 | |||
Gross Carrying Amount [Member] | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | Large corporate clients | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 4,000 | 4,700 | ||||
Gross Carrying Amount [Member] | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | SME clients | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 3,961 | 4,065 | 4,311 | |||
Gross Carrying Amount [Member] | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | Lombard | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 6,231 | 5,960 | ||||
Gross Carrying Amount [Member] | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | Credit cards | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 6,712 | 6,609 | ||||
Gross Carrying Amount [Member] | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | Commodity trade finance | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 2,703 | 3,307 | ||||
Gross Carrying Amount [Member] | Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Irrevocable committed prolongation of existing loans | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 2,741 | 1,912 | 1,634 | |||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Total on-balance sheet financial assets in scope of ECL requirements | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 23,912 | 27,851 | 27,862 | |||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Total financial assets measured at amortized cost | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | [2] | 23,912 | 27,851 | 27,862 | ||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Cash and balances at central banks | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 0 | 0 | 0 | |||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to banks | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 8 | 38 | 18 | |||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Receivables from securities financing transactions | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 0 | 0 | 0 | |||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Cash collateral receivables on derivative instruments | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 0 | 0 | 0 | |||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 23,612 | 27,543 | 27,812 | |||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Private clients with mortgage | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 12,498 | 15,149 | 15,006 | |||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Real estate financing | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 8,795 | 9,553 | 9,657 | |||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Large corporate clients | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 555 | 684 | 557 | |||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | SME clients | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 1,284 | 1,629 | 1,518 | |||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Lombard | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 0 | 0 | 0 | |||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Credit cards | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 268 | 252 | ||||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Commodity trade finance | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 13 | 61 | ||||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Other financial assets measured at amortized cost | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 292 | 271 | 32 | |||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans to financial advisors | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 85 | 74 | 32 | |||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Financial assets measured at fair value through other comprehensive income | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 0 | 0 | 0 | |||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Total off-balance sheet financial instruments and other credit lines | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 2,142 | 3,003 | 3,452 | |||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 506 | 577 | 633 | |||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | Large corporate clients | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 218 | 249 | ||||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | SME clients | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 221 | 235 | ||||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | Financial intermediaries and hedge funds | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 9 | 47 | ||||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | Lombard | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | 0 | ||||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | Commodity trade finance | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 43 | 24 | ||||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Irrevocable loan commitments | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 563 | 547 | 662 | |||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Irrevocable loan commitments | Large corporate clients | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 550 | 535 | 629 | |||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Forward starting transactions, reverse repurchase and securities borrowing agreements | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | 0 | 0 | |||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 1,053 | 1,879 | 2,157 | |||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | Real estate financing | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 272 | 808 | 1,007 | |||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | Large corporate clients | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 65 | 99 | ||||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | SME clients | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 390 | 496 | 406 | |||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | Lombard | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | 0 | ||||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | Credit cards | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 267 | 269 | ||||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | Commodity trade finance | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | 92 | ||||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Irrevocable committed prolongation of existing loans | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 19 | 0 | 0 | |||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Total on-balance sheet financial assets in scope of ECL requirements | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 2,141 | 2,033 | 1,956 | [3] | ||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Total financial assets measured at amortized cost | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | [2] | 2,141 | 2,033 | 1,956 | [3] | |
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Cash and balances at central banks | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 0 | 0 | 0 | [3] | ||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to banks | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 0 | 0 | 0 | [3] | ||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Receivables from securities financing transactions | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 0 | 0 | 0 | [3] | ||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Cash collateral receivables on derivative instruments | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 0 | 0 | 0 | [3] | ||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 1,625 | 1,545 | 1,491 | [3] | ||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Private clients with mortgage | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 826 | 772 | 686 | [3] | ||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Real estate financing | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 39 | 36 | 29 | [3] | ||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Large corporate clients | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 91 | 97 | 88 | [3] | ||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | SME clients | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 581 | 550 | 585 | [3] | ||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Lombard | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 16 | 13 | 17 | [3] | ||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Credit cards | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 14 | 14 | ||||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Commodity trade finance | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 13 | 5 | ||||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Other financial assets measured at amortized cost | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 516 | 488 | 465 | [3] | ||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans to financial advisors | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 171 | 149 | 179 | [3] | ||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Financial assets measured at fair value through other comprehensive income | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Carrying amount | 0 | 0 | 0 | [3] | ||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Total off-balance sheet financial instruments and other credit lines | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 300 | 296 | 288 | [3] | ||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 197 | 203 | 189 | [3] | ||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | Large corporate clients | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 138 | 146 | ||||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | SME clients | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 45 | 50 | ||||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | Financial intermediaries and hedge funds | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | 0 | ||||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | Lombard | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | 0 | ||||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | Commodity trade finance | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 13 | 7 | ||||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Irrevocable loan commitments | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 38 | 18 | 37 | [3] | ||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Irrevocable loan commitments | Large corporate clients | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 22 | 7 | 26 | [3] | ||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Forward starting transactions, reverse repurchase and securities borrowing agreements | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | 0 | 0 | [3] | ||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 65 | 75 | 62 | [3] | ||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | Real estate financing | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | 0 | 0 | [3] | ||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | Large corporate clients | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | 5 | ||||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | SME clients | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 57 | 56 | 53 | [3] | ||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | Lombard | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | 0 | ||||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | Credit cards | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | 0 | ||||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | Commodity trade finance | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 5 | 14 | ||||
Gross Carrying Amount [Member] | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Irrevocable committed prolongation of existing loans | ||||||
Disclosure Of Credit Risk Exposure [Line Items] | ||||||
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | SFr 0 | SFr 0 | SFr 1 | [3] | ||
[1] | Provisions recognized in 2018 relate to exposures in the scope of the expected credit loss requirements of IFRS 9. Refer to Notes 9 and 19 for more information. 2017 provisions for off-balance sheet financial instruments relate to loss provisions recognized under IAS 37. | |||||
[2] | The carrying value of financial assets at amortized cost is net of the respective ECL allowances. | |||||
[3] | Upon adoption of IFRS 9 as of 1 January 2018, an instrument is classified as credit-impaired if the counterparty is defaulted, and / or the instrument is purchased or originated credit-impaired and includes credit impaired exposures for which no loss has occurred, or for which no allowance has been recognized (e.g., because they are expected to be fully recoverable through the collateral held). Refer to Note 19 for more information on the adoption of IFRS 9. |
Expected credit loss measurem57
Expected credit loss measurement - ECL allowance (Detail) - Accumulated Impairment [Member] - CHF (SFr) SFr in Millions | Jun. 30, 2018 | Mar. 31, 2018 | Jan. 01, 2018 | |
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | SFr (1,133) | SFr (1,098) | SFr (1,117) | |
Total on-balance sheet financial assets in scope of ECL requirements | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (1,022) | (992) | (1,011) | |
Total financial assets measured at amortized cost | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | [1] | (1,022) | (992) | (1,011) |
Cash and balances at central banks | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | 0 | 0 | 0 | |
Loans and advances to banks | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (4) | (5) | (5) | |
Receivables from securities financing transactions | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (2) | (2) | (2) | |
Cash collateral receivables on derivative instruments | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | 0 | 0 | 0 | |
Loans and advances to customers | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (847) | (838) | (867) | |
Loans and advances to customers | Private clients with mortgage | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (122) | (127) | (124) | |
Loans and advances to customers | Real estate financing | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (60) | (62) | (62) | |
Loans and advances to customers | Large corporate clients | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (82) | (62) | (69) | |
Loans and advances to customers | SME clients | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (292) | (281) | (287) | |
Loans and advances to customers | Lombard | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (90) | (86) | (84) | |
Loans and advances to customers | Credit cards | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (37) | (34) | ||
Loans and advances to customers | Commodity trade finance | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (88) | (92) | ||
Other financial assets measured at amortized cost | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (168) | (146) | (136) | |
Loans to financial advisors | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (124) | (115) | (115) | |
Financial assets measured at fair value through other comprehensive income | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | 0 | 0 | 0 | |
Total off-balance sheet financial instruments and other credit lines | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (111) | (106) | (107) | |
Guarantees | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (34) | (40) | (37) | |
Guarantees | Large corporate clients | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (7) | (10) | ||
Guarantees | SME clients | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (16) | (16) | ||
Guarantees | Financial intermediaries and hedge funds | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (4) | (3) | ||
Guarantees | Lombard | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | 0 | 0 | ||
Guarantees | Commodity trade finance | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (4) | (4) | ||
Irrevocable loan commitments | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (42) | (32) | (36) | |
Irrevocable loan commitments | Large corporate clients | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (34) | (26) | (27) | |
Forward starting transactions, reverse repurchase and securities borrowing agreements | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | 0 | 0 | 0 | |
Committed unconditionally revocable credit lines | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (33) | (34) | (34) | |
Committed unconditionally revocable credit lines | Real estate financing | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (16) | (12) | (9) | |
Committed unconditionally revocable credit lines | Large corporate clients | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (1) | 0 | ||
Committed unconditionally revocable credit lines | SME clients | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (8) | (7) | (7) | |
Committed unconditionally revocable credit lines | Lombard | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | 0 | 0 | ||
Committed unconditionally revocable credit lines | Credit cards | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (5) | (5) | ||
Committed unconditionally revocable credit lines | Commodity trade finance | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (1) | (2) | ||
Irrevocable committed prolongation of existing loans | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (1) | (1) | 0 | |
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (159) | (143) | (144) | |
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Total on-balance sheet financial assets in scope of ECL requirements | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (97) | (94) | (95) | |
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Total financial assets measured at amortized cost | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | [1] | (97) | (94) | (95) |
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Cash and balances at central banks | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | 0 | 0 | 0 | |
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to banks | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (2) | (3) | (2) | |
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Receivables from securities financing transactions | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (2) | (2) | (2) | |
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Cash collateral receivables on derivative instruments | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | 0 | 0 | 0 | |
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (53) | (54) | (61) | |
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Private clients with mortgage | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (9) | (11) | (12) | |
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Real estate financing | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (3) | (3) | (3) | |
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Large corporate clients | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (5) | (7) | (6) | |
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | SME clients | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (8) | (9) | (8) | |
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Lombard | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (4) | (4) | (5) | |
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Credit cards | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (6) | (5) | ||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Commodity trade finance | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (4) | (4) | ||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Other financial assets measured at amortized cost | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (39) | (35) | (29) | |
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Loans to financial advisors | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (32) | (28) | (28) | |
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Financial assets measured at fair value through other comprehensive income | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | 0 | 0 | 0 | |
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Total off-balance sheet financial instruments and other credit lines | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (62) | (49) | (49) | |
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (7) | (7) | (6) | |
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | Large corporate clients | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (1) | (1) | ||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | SME clients | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | 0 | 0 | ||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | Financial intermediaries and hedge funds | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (4) | (3) | ||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | Lombard | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | 0 | 0 | ||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | Commodity trade finance | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (1) | (1) | ||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Irrevocable loan commitments | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (34) | (24) | (24) | |
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Irrevocable loan commitments | Large corporate clients | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (27) | (20) | (19) | |
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Forward starting transactions, reverse repurchase and securities borrowing agreements | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | 0 | 0 | 0 | |
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (21) | (17) | (19) | |
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | Real estate financing | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (8) | (2) | (2) | |
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | Large corporate clients | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (1) | 0 | ||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | SME clients | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (5) | (4) | (5) | |
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | Lombard | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | 0 | 0 | ||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | Credit cards | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (3) | (4) | ||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | Commodity trade finance | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (1) | (1) | ||
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | Irrevocable committed prolongation of existing loans | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (1) | (1) | 0 | |
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (202) | (194) | (188) | |
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Total on-balance sheet financial assets in scope of ECL requirements | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (179) | (168) | (164) | |
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Total financial assets measured at amortized cost | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | [1] | (179) | (168) | (164) |
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Cash and balances at central banks | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | 0 | 0 | 0 | |
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to banks | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | 0 | 0 | 0 | |
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Receivables from securities financing transactions | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | 0 | 0 | 0 | |
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Cash collateral receivables on derivative instruments | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | 0 | 0 | 0 | |
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (174) | (162) | (163) | |
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Private clients with mortgage | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (79) | (71) | (69) | |
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Real estate financing | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (49) | (51) | (53) | |
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Large corporate clients | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (9) | (2) | 0 | |
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | SME clients | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (25) | (24) | (23) | |
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Lombard | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | 0 | 0 | 0 | |
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Credit cards | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (11) | (9) | ||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans and advances to customers | Commodity trade finance | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | 0 | (4) | ||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Other financial assets measured at amortized cost | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (6) | (5) | (1) | |
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Loans to financial advisors | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (2) | (2) | (1) | |
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Financial assets measured at fair value through other comprehensive income | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | 0 | 0 | 0 | |
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Total off-balance sheet financial instruments and other credit lines | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (23) | (26) | (24) | |
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (1) | (2) | (2) | |
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | Large corporate clients | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | 0 | 0 | ||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | SME clients | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (1) | (1) | ||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | Financial intermediaries and hedge funds | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | 0 | 0 | ||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | Lombard | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | 0 | 0 | ||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Guarantees | Commodity trade finance | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | 0 | 0 | ||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Irrevocable loan commitments | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (8) | (7) | (8) | |
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Irrevocable loan commitments | Large corporate clients | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (7) | (5) | (4) | |
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Forward starting transactions, reverse repurchase and securities borrowing agreements | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | 0 | 0 | 0 | |
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (13) | (17) | (15) | |
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | Real estate financing | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (8) | (9) | (7) | |
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | Large corporate clients | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | 0 | 0 | ||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | SME clients | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (2) | (3) | (2) | |
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | Lombard | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | 0 | 0 | ||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | Credit cards | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (1) | (1) | ||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Committed unconditionally revocable credit lines | Commodity trade finance | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | 0 | (1) | ||
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | Irrevocable committed prolongation of existing loans | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | 0 | 0 | 0 | |
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (772) | (762) | (785) | |
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Total on-balance sheet financial assets in scope of ECL requirements | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (746) | (730) | (752) | |
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Total financial assets measured at amortized cost | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | [1] | (746) | (730) | (752) |
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Cash and balances at central banks | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | 0 | 0 | 0 | |
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to banks | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (2) | (2) | (3) | |
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Receivables from securities financing transactions | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | 0 | 0 | 0 | |
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Cash collateral receivables on derivative instruments | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | 0 | 0 | 0 | |
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (620) | (622) | (644) | |
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Private clients with mortgage | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (34) | (44) | (44) | |
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Real estate financing | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (8) | (8) | (6) | |
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Large corporate clients | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (68) | (54) | (63) | |
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | SME clients | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (258) | (248) | (256) | |
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Lombard | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (86) | (82) | (79) | |
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Credit cards | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (20) | (19) | ||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | Commodity trade finance | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (84) | (85) | ||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Other financial assets measured at amortized cost | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (123) | (106) | (106) | |
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans to financial advisors | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (90) | (85) | (87) | |
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Financial assets measured at fair value through other comprehensive income | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | 0 | 0 | 0 | |
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Total off-balance sheet financial instruments and other credit lines | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (26) | (32) | (33) | |
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (26) | (31) | (29) | |
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | Large corporate clients | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (5) | (9) | ||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | SME clients | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (15) | (15) | ||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | Financial intermediaries and hedge funds | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | 0 | 0 | ||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | Lombard | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | 0 | 0 | ||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | Commodity trade finance | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | (3) | (3) | ||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Irrevocable loan commitments | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | 0 | (1) | (4) | |
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Irrevocable loan commitments | Large corporate clients | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | 0 | (1) | (4) | |
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Forward starting transactions, reverse repurchase and securities borrowing agreements | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | 0 | 0 | 0 | |
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | 0 | 0 | 0 | |
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | Real estate financing | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | 0 | 0 | 0 | |
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | Large corporate clients | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | 0 | 0 | ||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | SME clients | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | 0 | 0 | 0 | |
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | Lombard | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | 0 | 0 | ||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | Credit cards | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | 0 | 0 | ||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Committed unconditionally revocable credit lines | Commodity trade finance | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | 0 | 0 | ||
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Irrevocable committed prolongation of existing loans | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
ECL allowance | SFr 0 | SFr 0 | SFr 0 | |
[1] | The carrying value of financial assets at amortized cost is net of the respective ECL allowances. |
Expected credit loss measurem58
Expected credit loss measurement - ECL for the period (Narrative) (Detail 1) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||||
Jun. 30, 2018 | Mar. 31, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | [1] | Jun. 30, 2017 | [1] | |
Disclosure Of Provision Matrix [Line Items] | |||||||
Credit loss expense / (recovery) | SFr 28 | SFr 25 | SFr 46 | SFr 53 | SFr 46 | ||
Positions that are not credit impaired | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Credit loss expense / (recovery) | 21 | ||||||
Credit-impaired positions | |||||||
Disclosure Of Provision Matrix [Line Items] | |||||||
Credit loss expense / (recovery) | SFr 7 | ||||||
[1] | Prior period information may not be comparable as a result of the adoption of IFRS 9, Financial Instruments and IFRS 15, Revenue from Contracts with Customers, both effective 1 January 2018. Refer to Note 1 for more information on these changes. |
Expected credit loss measurem59
Expected credit loss measurement - ECL for the period (Narrative) (Detail 2) | Jan. 01, 2018 | Jun. 30, 2018 | Mar. 31, 2018 |
Disclosure Of Provision Matrix [Line Items] | |||
Number of economic scenarios in ECL calculation | 4 | 4 | 4 |
Upside ECL scenario | |||
Disclosure Of Provision Matrix [Line Items] | |||
Assigned weights | 20.00% | 20.00% | 20.00% |
Baseline ECL scenario | |||
Disclosure Of Provision Matrix [Line Items] | |||
Assigned weights | 42.50% | 42.50% | 42.50% |
Mild downside ECL scenario | |||
Disclosure Of Provision Matrix [Line Items] | |||
Assigned weights | 30.00% | 30.00% | 30.00% |
Severe downside ECL scenario | |||
Disclosure Of Provision Matrix [Line Items] | |||
Assigned weights | 7.50% | 7.50% | 7.50% |
FVM - Fair value hierarchy - As
FVM - Fair value hierarchy - Assets (Detail) - CHF (SFr) SFr in Millions | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | SFr 356,338 | SFr 347,525 | SFr 316,629 |
Measured at fair value on a recurring basis | Financial assets at fair value held for trading | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 112,121 | 105,554 | 126,144 |
Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Government bills / bonds | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 11,527 | 14,885 | 12,854 |
Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Corporate and municipal bonds | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 8,640 | 8,731 | 8,563 |
Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Loans | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 3,829 | 3,611 | 3,847 |
Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Investment fund units | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 11,230 | 9,215 | 9,632 |
Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Asset-backed securities | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 266 | 326 | 368 |
Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Equity instruments | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 76,612 | 68,787 | 79,565 |
Measured at fair value on a recurring basis | Financial assets at fair value 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],[2] | 11,316 | ||
Measured at fair value on a recurring basis | Derivative financial instruments | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 121,604 | 113,333 | 118,227 |
Measured at fair value on a recurring basis | Derivative financial instruments | Interest rate contracts | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 38,782 | 41,196 | 44,049 |
Measured at fair value on a recurring basis | Derivative financial instruments | Credit derivative contracts | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 2,127 | 2,352 | 2,816 |
Measured at fair value on a recurring basis | Derivative financial instruments | Foreign exchange contracts | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 53,690 | 42,649 | 47,143 |
Measured at fair value on a recurring basis | Derivative financial instruments | Equity / index contracts | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 24,939 | 25,002 | 22,232 |
Measured at fair value on a recurring basis | Derivative financial instruments | Commodity contracts | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 1,564 | 1,379 | 1,727 |
Measured at fair value on a recurring basis | Brokerage receivables mandatorily measured at fair value | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1],[3] | 18,415 | 20,250 | |
Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 93,217 | 97,532 | 58,933 |
Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Government bills / bonds | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 25,305 | 27,901 | 25,961 |
Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Corporate and municipal bonds | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 22,807 | 24,025 | 21,467 |
Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Structured securities financing transactions | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1],[4] | 7,622 | 7,760 | 291 |
Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Auction-rate securities | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1],[3] | 1,832 | 1,713 | |
Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Investment fund units | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 770 | 689 | 582 |
Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Equity instruments | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1],[5] | 602 | 567 | |
Measured at fair value on a recurring basis | Financial assets at fair value not 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],[2] | 24,568 | 24,183 | |
Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Loans (including structured loans) | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 9,298 | 10,277 | 10,143 |
Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Other | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 414 | 415 | 489 |
Measured at fair value on a recurring basis | Financial assets measured at fair value through other comprehensive income | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 6,941 | 6,758 | 8,665 |
Measured at fair value on a recurring basis | Financial assets measured at fair value through other comprehensive income | Government bills / bonds | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 2,675 | 2,634 | 2,866 |
Measured at fair value on a recurring basis | Financial assets measured at fair value through other comprehensive income | Corporate and municipal bonds | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 434 | 473 | 1,189 |
Measured at fair value on a recurring basis | Financial assets measured at fair value through other comprehensive income | Asset-backed securities | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 3,832 | 3,651 | 3,880 |
Measured at fair value on a recurring basis | Financial assets measured at fair value through other comprehensive income | Other | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1],[5] | 0 | 0 | 730 |
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 at fair value | [1] | 3,975 | 4,032 | 4,563 |
Measured at fair value on a non-recurring basis | Other non-financial assets | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Other non-financial assets at fair value | [1],[6] | 65 | 67 | 95 |
Level 1 | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 146,519 | 141,707 | 140,015 |
Level 1 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 96,129 | 89,273 | 108,962 |
Level 1 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Government bills / bonds | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 10,650 | 13,769 | 11,935 |
Level 1 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Corporate and municipal bonds | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 550 | 342 | 37 |
Level 1 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Loans | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 0 | 0 | 0 |
Level 1 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Investment fund units | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 8,716 | 6,951 | 7,223 |
Level 1 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Asset-backed securities | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 0 | 0 | 0 |
Level 1 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Equity instruments | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 76,214 | 68,211 | 79,274 |
Level 1 | Measured at fair value on a recurring basis | Financial assets at fair value 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],[2] | 10,492 | ||
Level 1 | Measured at fair value on a recurring basis | Derivative financial instruments | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 878 | 853 | 458 |
Level 1 | Measured at fair value on a recurring basis | Derivative financial instruments | Interest rate contracts | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 0 | 8 | 1 |
Level 1 | Measured at fair value on a recurring basis | Derivative financial instruments | Credit derivative contracts | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 0 | 0 | 0 |
Level 1 | Measured at fair value on a recurring basis | Derivative financial instruments | Foreign exchange contracts | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 563 | 385 | 207 |
Level 1 | Measured at fair value on a recurring basis | Derivative financial instruments | Equity / index contracts | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 7 | 21 | 16 |
Level 1 | Measured at fair value on a recurring basis | Derivative financial instruments | Commodity contracts | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 0 | 0 | 0 |
Level 1 | Measured at fair value on a recurring basis | Brokerage receivables mandatorily measured at fair value | ||||
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 at fair value not held for trading | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 42,929 | 44,989 | 23,032 |
Level 1 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Government bills / bonds | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 21,853 | 24,255 | 22,062 |
Level 1 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Corporate and municipal bonds | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 958 | 760 | 765 |
Level 1 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Structured securities financing transactions | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1],[4] | 0 | 0 | 0 |
Level 1 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Auction-rate 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 at fair value not held for trading | Investment fund units | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 194 | 167 | 205 |
Level 1 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Equity instruments | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1],[5] | 101 | 151 | |
Level 1 | Measured at fair value on a recurring basis | Financial assets at fair value not 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],[2] | 19,824 | 19,655 | |
Level 1 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Loans (including structured loans) | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 0 | 0 | 0 |
Level 1 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Other | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 0 | 0 | 0 |
Level 1 | Measured at fair value on a recurring basis | Financial assets measured at fair value through other comprehensive income | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 2,608 | 2,560 | 3,000 |
Level 1 | Measured at fair value on a recurring basis | Financial assets measured at fair value through other comprehensive income | Government bills / bonds | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 2,563 | 2,515 | 2,733 |
Level 1 | Measured at fair value on a recurring basis | Financial assets measured at fair value through other comprehensive income | Corporate and municipal bonds | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 44 | 45 | 121 |
Level 1 | Measured at fair value on a recurring basis | Financial assets measured at fair value through other comprehensive income | Asset-backed securities | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 0 | 0 | 0 |
Level 1 | Measured at fair value on a recurring basis | Financial assets measured at fair value through other comprehensive income | Other | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1],[5] | 0 | 0 | 146 |
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 at fair value | [1] | 3,975 | 4,032 | 4,563 |
Level 1 | Measured at fair value on a non-recurring basis | Other non-financial assets | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Other non-financial assets at fair value | [1],[6] | 0 | 0 | 0 |
Level 2 | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 200,297 | 197,861 | 171,125 |
Level 2 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 12,729 | 14,344 | 15,211 |
Level 2 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Government bills / bonds | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 877 | 1,115 | 918 |
Level 2 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Corporate and municipal bonds | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 7,463 | 8,157 | 7,974 |
Level 2 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Loans | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 2,096 | 3,005 | 3,346 |
Level 2 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Investment fund units | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 1,974 | 1,560 | 1,839 |
Level 2 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Asset-backed securities | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 110 | 169 | 194 |
Level 2 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Equity instruments | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 210 | 338 | 186 |
Level 2 | Measured at fair value on a recurring basis | Financial assets at fair value 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],[2] | 755 | ||
Level 2 | Measured at fair value on a recurring basis | Derivative financial instruments | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 119,245 | 111,135 | 116,221 |
Level 2 | Measured at fair value on a recurring basis | Derivative financial instruments | Interest rate contracts | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 38,555 | 41,153 | 43,913 |
Level 2 | Measured at fair value on a recurring basis | Derivative financial instruments | Credit derivative contracts | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 1,674 | 1,894 | 2,266 |
Level 2 | Measured at fair value on a recurring basis | Derivative financial instruments | Foreign exchange contracts | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 52,941 | 42,025 | 46,748 |
Level 2 | Measured at fair value on a recurring basis | Derivative financial instruments | Equity / index contracts | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 24,320 | 24,374 | 21,541 |
Level 2 | Measured at fair value on a recurring basis | Derivative financial instruments | Commodity contracts | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 1,564 | 1,379 | 1,727 |
Level 2 | Measured at fair value on a recurring basis | Brokerage receivables mandatorily measured at fair value | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1],[3] | 18,415 | 20,250 | |
Level 2 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 45,518 | 47,876 | 34,481 |
Level 2 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Government bills / bonds | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 3,452 | 3,646 | 3,900 |
Level 2 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Corporate and municipal bonds | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 21,849 | 23,265 | 20,702 |
Level 2 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Structured securities financing transactions | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1],[4] | 7,556 | 7,621 | 118 |
Level 2 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Auction-rate securities | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1],[3] | 0 | 0 | |
Level 2 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Investment fund units | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 458 | 415 | 377 |
Level 2 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Equity instruments | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1],[5] | 16 | 47 | |
Level 2 | Measured at fair value on a recurring basis | Financial assets at fair value not 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],[2] | 4,735 | 4,528 | |
Level 2 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Loans (including structured loans) | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 7,394 | 8,353 | 9,385 |
Level 2 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Other | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 57 | 1 | 0 |
Level 2 | Measured at fair value on a recurring basis | Financial assets measured at fair value through other comprehensive income | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 4,333 | 4,197 | 5,157 |
Level 2 | Measured at fair value on a recurring basis | Financial assets measured at fair value through other comprehensive income | Government bills / bonds | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 111 | 118 | 133 |
Level 2 | Measured at fair value on a recurring basis | Financial assets measured at fair value through other comprehensive income | Corporate and municipal bonds | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 390 | 428 | 1,060 |
Level 2 | Measured at fair value on a recurring basis | Financial assets measured at fair value through other comprehensive income | Asset-backed securities | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 3,832 | 3,651 | 3,880 |
Level 2 | Measured at fair value on a recurring basis | Financial assets measured at fair value through other comprehensive income | Other | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1],[5] | 0 | 0 | 85 |
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 at fair value | [1] | 0 | 0 | 0 |
Level 2 | Measured at fair value on a non-recurring basis | Other non-financial assets | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Other non-financial assets at fair value | [1],[6] | 57 | 58 | 54 |
Level 3 | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 9,522 | 7,957 | 5,489 |
Level 3 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 3,263 | 1,937 | 1,972 |
Level 3 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Government bills / bonds | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 0 | 0 | 0 |
Level 3 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Corporate and municipal bonds | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 627 | 233 | 552 |
Level 3 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Loans | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 1,733 | 606 | 501 |
Level 3 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Investment fund units | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 540 | 704 | 571 |
Level 3 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Asset-backed securities | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 157 | 157 | 174 |
Level 3 | Measured at fair value on a recurring basis | Financial assets at fair value held for trading | Equity instruments | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 188 | 237 | 105 |
Level 3 | Measured at fair value on a recurring basis | Financial assets at fair value 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],[2] | 69 | ||
Level 3 | Measured at fair value on a recurring basis | Derivative financial instruments | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 1,481 | 1,344 | 1,549 |
Level 3 | Measured at fair value on a recurring basis | Derivative financial instruments | Interest rate contracts | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 226 | 35 | 135 |
Level 3 | Measured at fair value on a recurring basis | Derivative financial instruments | Credit derivative contracts | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 452 | 458 | 550 |
Level 3 | Measured at fair value on a recurring basis | Derivative financial instruments | Foreign exchange contracts | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 186 | 239 | 189 |
Level 3 | Measured at fair value on a recurring basis | Derivative financial instruments | Equity / index contracts | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 612 | 608 | 675 |
Level 3 | Measured at fair value on a recurring basis | Derivative financial instruments | Commodity contracts | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 0 | 0 | 0 |
Level 3 | Measured at fair value on a recurring basis | Brokerage receivables mandatorily measured at fair value | ||||
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 at fair value not held for trading | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 4,769 | 4,667 | 1,419 |
Level 3 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Government bills / bonds | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 0 | 0 | 0 |
Level 3 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Corporate and municipal bonds | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 0 | 0 | 0 |
Level 3 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Structured securities financing transactions | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1],[4] | 65 | 140 | 173 |
Level 3 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Auction-rate securities | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1],[3] | 1,832 | 1,713 | |
Level 3 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Investment fund units | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 118 | 107 | 0 |
Level 3 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Equity instruments | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1],[5] | 484 | 369 | |
Level 3 | Measured at fair value on a recurring basis | Financial assets at fair value not 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],[2] | 8 | 0 | |
Level 3 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Loans (including structured loans) | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 1,904 | 1,924 | 758 |
Level 3 | Measured at fair value on a recurring basis | Financial assets at fair value not held for trading | Other | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 357 | 413 | 489 |
Level 3 | Measured at fair value on a recurring basis | Financial assets measured at fair value through other comprehensive income | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 0 | 0 | 507 |
Level 3 | Measured at fair value on a recurring basis | Financial assets measured at fair value through other comprehensive income | Government bills / bonds | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 0 | 0 | 0 |
Level 3 | Measured at fair value on a recurring basis | Financial assets measured at fair value through other comprehensive income | Corporate and municipal bonds | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 0 | 0 | 9 |
Level 3 | Measured at fair value on a recurring basis | Financial assets measured at fair value through other comprehensive income | Asset-backed securities | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 0 | 0 | 0 |
Level 3 | Measured at fair value on a recurring basis | Financial assets measured at fair value through other comprehensive income | Other | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1],[5] | 0 | 0 | 499 |
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 at fair value | [1] | 0 | 0 | 0 |
Level 3 | Measured at fair value on a non-recurring basis | Other non-financial assets | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Other non-financial assets at fair value | [1],[6] | SFr 9 | SFr 9 | SFr 42 |
[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 for unit-linked investment contracts were reclassified from Financial assets at fair value held for trading to Financial assets at fair value not held for trading as of 1 January 2018. Refer to Note 19 for more information. | |||
[3] | Comparative period information is not disclosed for financial assets and liabilities that were measured at amortized cost prior to the adoption of IFRS 9 on 1 January 2018. Refer to Note 19 for more information. | |||
[4] | The increases in Structured securities financing transactions from 31 December 2017 to 31 March 2018 primarily relate to the reclassification of certain balances from amortized cost to fair value through profit or loss upon adoption of IFRS 9 on 1 January 2018. Refer to Note 19 for more information. | |||
[5] | Upon adoption of IFRS 9 on 1 January 2018, equity instruments that were formerly classified as available for sale under IAS 39 were reclassified to Financial assets at fair value not held for trading. Refer to Note 19 for more information. | |||
[6] | Other non-financial assets primarily consist of properties and other non-current assets held for sale, which are measured at the lower of their net carrying amount or fair value less costs to sell. |
FVM - Fair value hierarchy - Li
FVM - Fair value hierarchy - Liabilities (Detail) - CHF (SFr) SFr in Millions | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | SFr 282,734 | SFr 267,983 | SFr 212,323 |
Measured at fair value on a recurring basis | Financial liabilities at fair value held for trading | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 31,416 | 34,747 | 30,463 |
Measured at fair value on a recurring basis | Financial liabilities at fair value held for trading | Government bills / bonds | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 4,685 | 7,972 | 5,409 |
Measured at fair value on a recurring basis | Financial liabilities at fair value held for trading | Corporate and municipal bonds | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 4,285 | 4,176 | 3,538 |
Measured at fair value on a recurring basis | Financial liabilities at fair value held for trading | Investment fund units | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 1,002 | 362 | 820 |
Measured at fair value on a recurring basis | Financial liabilities at fair value held for trading | Equity instruments | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 21,440 | 22,229 | 20,695 |
Measured at fair value on a recurring basis | Derivative financial instruments | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 119,223 | 111,945 | 116,133 |
Measured at fair value on a recurring basis | Derivative financial instruments | Interest rate contracts | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 34,030 | 36,349 | 38,387 |
Measured at fair value on a recurring basis | Derivative financial instruments | Credit derivative contracts | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 3,233 | 3,407 | 3,797 |
Measured at fair value on a recurring basis | Derivative financial instruments | Foreign exchange contracts | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 53,620 | 42,353 | 45,485 |
Measured at fair value on a recurring basis | Derivative financial instruments | Equity / index contracts | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 26,493 | 27,845 | 26,741 |
Measured at fair value on a recurring basis | Derivative financial instruments | Commodity contracts | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 1,366 | 1,227 | 1,562 |
Measured at fair value on a recurring basis | Brokerage payable designated at fair value | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1],[2] | 37,904 | 34,793 | |
Measured at fair value on a recurring basis | Debt issued designated at fair value | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 56,849 | 52,059 | 49,502 |
Measured at fair value on a recurring basis | Other financial liabilities designated at fair value | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 37,342 | 34,438 | 16,223 |
Measured at fair value on a recurring basis | Other financial liabilities designated at fair value | Amounts due under unit-linked investment contracts | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 24,913 | 24,348 | 11,523 |
Measured at fair value on a recurring basis | Other financial liabilities designated at fair value | Structured securities financing transactions | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1],[3] | 6,533 | 5,812 | 376 |
Measured at fair value on a recurring basis | Other 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] | 5,888 | 4,270 | 4,315 |
Measured at fair value on a non-recurring basis | Other non-financial liabilities | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 0 | 0 | 1 |
Level 1 | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 27,087 | 30,495 | 26,435 |
Level 1 | Measured at fair value on a recurring basis | Financial liabilities at fair value held for trading | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 26,211 | 29,657 | 26,037 |
Level 1 | Measured at fair value on a recurring basis | Financial liabilities at fair value held for trading | Government bills / bonds | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 4,386 | 7,574 | 5,153 |
Level 1 | Measured at fair value on a recurring basis | Financial liabilities at fair value held for trading | Corporate and municipal bonds | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 138 | 11 | 50 |
Level 1 | Measured at fair value on a recurring basis | Financial liabilities at fair value held for trading | Investment fund units | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 785 | 291 | 541 |
Level 1 | Measured at fair value on a recurring basis | Financial liabilities at fair value held for trading | Equity instruments | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 20,901 | 21,781 | 20,293 |
Level 1 | Measured at fair value on a recurring basis | Derivative financial instruments | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 875 | 837 | 398 |
Level 1 | Measured at fair value on a recurring basis | Derivative financial instruments | Interest rate contracts | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 6 | 12 | 5 |
Level 1 | Measured at fair value on a recurring basis | Derivative financial instruments | Credit derivative contracts | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 0 | 0 | 0 |
Level 1 | Measured at fair value on a recurring basis | Derivative financial instruments | Foreign exchange contracts | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 585 | 343 | 213 |
Level 1 | Measured at fair value on a recurring basis | Derivative financial instruments | Equity / index contracts | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 2 | 6 | 42 |
Level 1 | Measured at fair value on a recurring basis | Derivative financial instruments | Commodity contracts | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 0 | 0 | 0 |
Level 1 | Measured at fair value on a recurring basis | Brokerage payable designated at fair value | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1],[2] | 0 | 0 | |
Level 1 | Measured at fair value on a recurring basis | Debt issued designated at fair value | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 0 | 0 | 0 |
Level 1 | Measured at fair value on a recurring basis | Other financial liabilities designated at fair value | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 2 | 2 | 0 |
Level 1 | Measured at fair value on a recurring basis | Other financial liabilities designated at fair value | Amounts due under unit-linked investment contracts | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 0 | 0 | 0 |
Level 1 | Measured at fair value on a recurring basis | Other financial liabilities designated at fair value | Structured securities financing transactions | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1],[3] | 0 | 0 | 0 |
Level 1 | Measured at fair value on a recurring basis | Other 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 | 2 | 0 |
Level 1 | Measured at fair value on a non-recurring basis | Other non-financial liabilities | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 0 | 0 | 0 |
Level 2 | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 241,910 | 221,504 | 170,138 |
Level 2 | Measured at fair value on a recurring basis | Financial liabilities at fair value held for trading | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 5,117 | 4,999 | 4,309 |
Level 2 | Measured at fair value on a recurring basis | Financial liabilities at fair value held for trading | Government bills / bonds | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 299 | 398 | 256 |
Level 2 | Measured at fair value on a recurring basis | Financial liabilities at fair value held for trading | Corporate and municipal bonds | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 4,113 | 4,133 | 3,453 |
Level 2 | Measured at fair value on a recurring basis | Financial liabilities at fair value held for trading | Investment fund units | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 214 | 67 | 263 |
Level 2 | Measured at fair value on a recurring basis | Financial liabilities at fair value held for trading | Equity instruments | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 488 | 392 | 336 |
Level 2 | Measured at fair value on a recurring basis | Derivative financial instruments | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 115,954 | 108,437 | 112,928 |
Level 2 | Measured at fair value on a recurring basis | Derivative financial instruments | Interest rate contracts | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 33,738 | 36,125 | 38,196 |
Level 2 | Measured at fair value on a recurring basis | Derivative financial instruments | Credit derivative contracts | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 2,620 | 2,777 | 3,196 |
Level 2 | Measured at fair value on a recurring basis | Derivative financial instruments | Foreign exchange contracts | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 52,921 | 41,891 | 45,150 |
Level 2 | Measured at fair value on a recurring basis | Derivative financial instruments | Equity / index contracts | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 25,122 | 26,131 | 24,803 |
Level 2 | Measured at fair value on a recurring basis | Derivative financial instruments | Commodity contracts | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 1,365 | 1,227 | 1,561 |
Level 2 | Measured at fair value on a recurring basis | Brokerage payable designated at fair value | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1],[2] | 37,904 | 34,793 | |
Level 2 | Measured at fair value on a recurring basis | Debt issued designated at fair value | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 46,683 | 40,213 | 38,617 |
Level 2 | Measured at fair value on a recurring basis | Other financial liabilities designated at fair value | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 36,252 | 33,061 | 14,282 |
Level 2 | Measured at fair value on a recurring basis | Other financial liabilities designated at fair value | Amounts due under unit-linked investment contracts | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 24,913 | 24,348 | 11,523 |
Level 2 | Measured at fair value on a recurring basis | Other financial liabilities designated at fair value | Structured securities financing transactions | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1],[3] | 6,533 | 5,812 | 372 |
Level 2 | Measured at fair value on a recurring basis | Other 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] | 4,801 | 2,898 | 2,385 |
Level 2 | Measured at fair value on a non-recurring basis | Other non-financial liabilities | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 0 | 0 | 1 |
Level 3 | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 13,737 | 15,984 | 15,750 |
Level 3 | Measured at fair value on a recurring basis | Financial liabilities at fair value held for trading | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 88 | 91 | 117 |
Level 3 | Measured at fair value on a recurring basis | Financial liabilities at fair value held for trading | Government bills / bonds | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 0 | 0 | 0 |
Level 3 | Measured at fair value on a recurring basis | Financial liabilities at fair value held for trading | Corporate and municipal bonds | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 34 | 31 | 35 |
Level 3 | Measured at fair value on a recurring basis | Financial liabilities at fair value held for trading | Investment fund units | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 2 | 4 | 16 |
Level 3 | Measured at fair value on a recurring basis | Financial liabilities at fair value held for trading | Equity instruments | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 52 | 56 | 66 |
Level 3 | Measured at fair value on a recurring basis | Derivative financial instruments | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 2,394 | 2,671 | 2,807 |
Level 3 | Measured at fair value on a recurring basis | Derivative financial instruments | Interest rate contracts | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 285 | 212 | 186 |
Level 3 | Measured at fair value on a recurring basis | Derivative financial instruments | Credit derivative contracts | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 613 | 629 | 601 |
Level 3 | Measured at fair value on a recurring basis | Derivative financial instruments | Foreign exchange contracts | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 115 | 118 | 122 |
Level 3 | Measured at fair value on a recurring basis | Derivative financial instruments | Equity / index contracts | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 1,369 | 1,708 | 1,896 |
Level 3 | Measured at fair value on a recurring basis | Derivative financial instruments | Commodity contracts | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 1 | 1 | 1 |
Level 3 | Measured at fair value on a recurring basis | Brokerage payable designated at fair value | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1],[2] | 0 | 0 | |
Level 3 | Measured at fair value on a recurring basis | Debt issued designated at fair value | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 10,166 | 11,846 | 10,885 |
Level 3 | Measured at fair value on a recurring basis | Other financial liabilities designated at fair value | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 1,089 | 1,375 | 1,941 |
Level 3 | Measured at fair value on a recurring basis | Other financial liabilities designated at fair value | Amounts due under unit-linked investment contracts | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 0 | 0 | 0 |
Level 3 | Measured at fair value on a recurring basis | Other financial liabilities designated at fair value | Structured securities financing transactions | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1],[3] | 0 | 1 | 4 |
Level 3 | Measured at fair value on a recurring basis | Other 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] | 1,085 | 1,371 | 1,930 |
Level 3 | Measured at fair value on a non-recurring basis | Other non-financial liabilities | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | SFr 0 | 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] | Comparative period information is not disclosed for financial assets and liabilities that were measured at amortized cost prior to the adoption of IFRS 9 on 1 January 2018. Refer to Note 19 for more information. | |||
[3] | The increases in Structured securities financing transactions from 31 December 2017 to 31 March 2018 primarily relate to the reclassification of certain balances from amortized cost to fair value through profit or loss upon adoption of IFRS 9 on 1 January 2018. Refer to Note 19 for more information. |
FVM - Valuation adjustments_ De
FVM - Valuation adjustments: Deferred day-1 P&L (Narrative) (Detail) SFr in Millions | 3 Months Ended |
Jun. 30, 2018CHF (SFr) | |
Deferred Day-1 Profit Or Loss [Line Items] | |
Model valuation adjustment | SFr (64) |
Profit / (loss) recognized in the income statement, Debt issued designated at fair value | SFr 192 |
FVM - Valuation adjustments_ 63
FVM - Valuation adjustments: Deferred day-1 P&L (Detail) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2018 | Mar. 31, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Deferred Day-1 Profit Or Loss [Line Items] | |||||
Balance at the beginning of the period | SFr 457 | SFr 329 | SFr 365 | SFr 329 | SFr 371 |
Profit / (loss) deferred on new transactions | 53 | 187 | 65 | 240 | 116 |
(Profit) / loss recognized in the income statement | (248) | (53) | (66) | (301) | (119) |
Foreign currency translation | 13 | (6) | (15) | 7 | (18) |
Balance at the end of the period | SFr 274 | SFr 457 | SFr 349 | SFr 274 | SFr 349 |
FVM - Transfers between Level 1
FVM - Transfers between Level 1 and Level 2 (Narrative) (Detail) SFr in Billions | 6 Months Ended |
Jun. 30, 2018CHF (SFr) | |
Disclosure Of Fair Value Measurement [Line Items] | |
Transfers Out Of Level 2 Into Level 1 Of Fair Value Hierarchy Assets | SFr 0.6 |
Description Of Reasons For Transfers Out Of Level 2 Into Level 1 Of Fair Value Hierarchy Assets | due to increased levels of trading activity observed within the market. |
FVM - Level 3 instruments_ Valu
FVM - Level 3 instruments: Valuation techniques and inputs (Detail) - CHF (SFr) SFr in Millions | 3 Months Ended | |||
Jun. 30, 2018 | Dec. 31, 2017 | Mar. 31, 2018 | ||
Disclosure Of Fair Value Measurement [Line Items] | ||||
Financial assets, at fair value | [1] | SFr 356,338 | SFr 316,629 | SFr 347,525 |
Financial liabilities, at fair value | [1] | 282,734 | 212,323 | SFr 267,983 |
Financial assets and liabilities at fair value held for trading, Financial assets at fair value not held for trading: Corporate and municipal bonds | Relative value to market comparable | ||||
Disclosure Of Fair Value Measurement [Line Items] | ||||
Financial assets, at fair value | [2] | 600 | 600 | |
Financial liabilities, at fair value | [2] | SFr 0 | SFr 0 | |
Financial assets and liabilities at fair value held for trading, Financial assets at fair value not held for trading: Corporate and municipal bonds | Relative value to market comparable | low | ||||
Disclosure Of Fair Value Measurement [Line Items] | ||||
Bond price equivalent (% of par) | [2],[3] | 0.00% | 0.00% | |
Financial assets and liabilities at fair value held for trading, Financial assets at fair value not held for trading: Corporate and municipal bonds | Relative value to market comparable | high | ||||
Disclosure Of Fair Value Measurement [Line Items] | ||||
Bond price equivalent (% of par) | [2],[3] | 134.00% | 133.00% | |
Financial assets and liabilities at fair value held for trading, Financial assets at fair value not held for trading: Corporate and municipal bonds | Relative value to market comparable | weighted average | ||||
Disclosure Of Fair Value Measurement [Line Items] | ||||
Bond price equivalent (% of par) | [2],[3],[4] | 95.00% | 92.00% | |
Financial assets and liabilities at fair value held for trading, Financial assets at fair value not held for trading: Traded loans, loans mandatorily at fair value, loan commitments and guarantees | Relative value to market comparable | ||||
Disclosure Of Fair Value Measurement [Line Items] | ||||
Financial assets, at fair value | [2] | SFr 3,900 | SFr 1,700 | |
Financial liabilities, at fair value | [2] | SFr 0 | SFr 0 | |
Financial assets and liabilities at fair value held for trading, Financial assets at fair value not held for trading: Traded loans, loans mandatorily at fair value, loan commitments and guarantees | Relative value to market comparable | low | ||||
Disclosure Of Fair Value Measurement [Line Items] | ||||
Loan price equivalent (% of par) | [2],[3] | 0.00% | 50.00% | |
Financial assets and liabilities at fair value held for trading, Financial assets at fair value not held for trading: Traded loans, loans mandatorily at fair value, loan commitments and guarantees | Relative value to market comparable | high | ||||
Disclosure Of Fair Value Measurement [Line Items] | ||||
Loan price equivalent (% of par) | [2],[3] | 101.00% | 102.00% | |
Financial assets and liabilities at fair value held for trading, Financial assets at fair value not held for trading: Traded loans, loans mandatorily at fair value, loan commitments and guarantees | Relative value to market comparable | weighted average | ||||
Disclosure Of Fair Value Measurement [Line Items] | ||||
Loan price equivalent (% of par) | [2],[3],[4] | 97.00% | 98.00% | |
Financial assets and liabilities at fair value held for trading, Financial assets at fair value not held for trading: Traded loans, loans mandatorily at fair value, loan commitments and guarantees | Discounted expected cash flows | low | ||||
Disclosure Of Fair Value Measurement [Line Items] | ||||
Credit spread | [2],[3] | 1.11% | 0.23% | |
Financial assets and liabilities at fair value held for trading, Financial assets at fair value not held for trading: Traded loans, loans mandatorily at fair value, loan commitments and guarantees | Discounted expected cash flows | high | ||||
Disclosure Of Fair Value Measurement [Line Items] | ||||
Credit spread | [2],[3] | 1.53% | 1.24% | |
Financial assets and liabilities at fair value held for trading, Financial assets at fair value not held for trading: Traded loans, loans mandatorily at fair value, loan commitments and guarantees | Market comparable and securitization model | low | ||||
Disclosure Of Fair Value Measurement [Line Items] | ||||
Discount margin | [2],[3] | 0.00% | 0.00% | |
Financial assets and liabilities at fair value held for trading, Financial assets at fair value not held for trading: Traded loans, loans mandatorily at fair value, loan commitments and guarantees | Market comparable and securitization model | high | ||||
Disclosure Of Fair Value Measurement [Line Items] | ||||
Discount margin | [2],[3] | 14.00% | 14.00% | |
Financial assets and liabilities at fair value held for trading, Financial assets at fair value not held for trading: Traded loans, loans mandatorily at fair value, loan commitments and guarantees | Market comparable and securitization model | weighted average | ||||
Disclosure Of Fair Value Measurement [Line Items] | ||||
Discount margin | [2],[3],[4] | 2.00% | 2.00% | |
Financial assets and liabilities at fair value held for trading, Financial assets at fair value not held for trading: Auction-rate securities | Relative value to market comparable | ||||
Disclosure Of Fair Value Measurement [Line Items] | ||||
Financial assets, at fair value | [2],[5] | SFr 1,800 | ||
Financial liabilities, at fair value | [2],[5] | SFr 0 | ||
Financial assets and liabilities at fair value held for trading, Financial assets at fair value not held for trading: Auction-rate securities | Relative value to market comparable | low | ||||
Disclosure Of Fair Value Measurement [Line Items] | ||||
Price (% of par) | [2],[3] | 77.00% | ||
Financial assets and liabilities at fair value held for trading, Financial assets at fair value not held for trading: Auction-rate securities | Relative value to market comparable | high | ||||
Disclosure Of Fair Value Measurement [Line Items] | ||||
Price (% of par) | [2],[3] | 99.00% | ||
Financial assets and liabilities at fair value held for trading, Financial assets at fair value not held for trading: Investment fund units | Relative value to market comparable | ||||
Disclosure Of Fair Value Measurement [Line Items] | ||||
Financial assets, at fair value | [2],[6] | SFr 700 | SFr 700 | |
Financial liabilities, at fair value | [2],[6] | 0 | 0 | |
Financial assets and liabilities at fair value held for trading, Financial assets at fair value not held for trading: Equity investments | Relative value to market comparable | ||||
Disclosure Of Fair Value Measurement [Line Items] | ||||
Financial assets, at fair value | [2],[6] | 700 | 500 | |
Financial liabilities, at fair value | [2],[6] | 100 | 100 | |
Debt issued designated at fair value | ||||
Disclosure Of Fair Value Measurement [Line Items] | ||||
Financial liabilities, at fair value | [7] | 10,200 | 10,900 | |
Other financial liabilities designated at fair value | ||||
Disclosure Of Fair Value Measurement [Line Items] | ||||
Financial liabilities, at fair value | [7] | 1,100 | 1,900 | |
Derivative financial instruments: Interest rate contracts | Option model | ||||
Disclosure Of Fair Value Measurement [Line Items] | ||||
Financial assets, at fair value | 200 | 100 | ||
Financial liabilities, at fair value | SFr 300 | SFr 200 | ||
Derivative financial instruments: Interest rate contracts | Option model | low | ||||
Disclosure Of Fair Value Measurement [Line Items] | ||||
Volatility of interest rates | [3],[8] | 0.42% | 0.28% | |
Derivative financial instruments: Interest rate contracts | Option model | high | ||||
Disclosure Of Fair Value Measurement [Line Items] | ||||
Volatility of interest rates | [3],[8] | 0.76% | 0.70% | |
Derivative financial instruments: Credit derivative contracts | Discounted expected cash flows | ||||
Disclosure Of Fair Value Measurement [Line Items] | ||||
Financial assets, at fair value | SFr 500 | SFr 500 | ||
Financial liabilities, at fair value | SFr 600 | SFr 600 | ||
Derivative financial instruments: Credit derivative contracts | Discounted expected cash flows | low | ||||
Disclosure Of Fair Value Measurement [Line Items] | ||||
Bond price equivalent (% of par) | [3] | 1.00% | 2.00% | |
Credit spread | [3] | 0.04% | 0.06% | |
Derivative financial instruments: Credit derivative contracts | Discounted expected cash flows | high | ||||
Disclosure Of Fair Value Measurement [Line Items] | ||||
Bond price equivalent (% of par) | [3] | 99.00% | 102.00% | |
Credit spread | [3] | 3.94% | 5.50% | |
Derivative financial instruments: Equity / index contracts | Option model | ||||
Disclosure Of Fair Value Measurement [Line Items] | ||||
Financial assets, at fair value | SFr 600 | SFr 700 | ||
Financial liabilities, at fair value | SFr 1,400 | SFr 1,900 | ||
Derivative financial instruments: Equity / index contracts | Option model | low | ||||
Disclosure Of Fair Value Measurement [Line Items] | ||||
Equity dividend yields | [3] | 0.00% | 0.00% | |
Volatility of equity stocks, equity and other indices | [3] | 0.00% | 0.00% | |
Equity-to-FX correlation | [3] | (45.00%) | (39.00%) | |
Equity-to-equity correlation | [3] | (50.00%) | (50.00%) | |
Derivative financial instruments: Equity / index contracts | Option model | high | ||||
Disclosure Of Fair Value Measurement [Line Items] | ||||
Equity dividend yields | [3] | 11.00% | 13.00% | |
Volatility of equity stocks, equity and other indices | [3] | 75.00% | 172.00% | |
Equity-to-FX correlation | [3] | 71.00% | 70.00% | |
Equity-to-equity correlation | [3] | 97.00% | 97.00% | |
[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] | Comparative period information includes equity instruments that were formerly classified as available for sale under IAS 39 and have been reclassified to Financial assets at fair value not held for trading upon adoption of IFRS 9 on 1 January 2018. Refer to Note 19 for more information. | |||
[3] | 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). | |||
[4] | 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. | |||
[5] | Comparative period information is not disclosed for financial assets and liabilities that were measured at amortized cost prior to the adoption of IFRS 9. Refer to Note 19 for more information. | |||
[6] | The range of inputs is not disclosed due to the dispersion of values given the diverse nature of the investments. | |||
[7] | Valuation techniques, significant unobservable inputs and the respective input ranges for Debt issued designated at fair value and Other financial liabilities designated at fair value, which are primarily comprised of over-the-counter debt instruments, are the same as the equivalent derivative or structured financing instruments presented elsewhere in this table. | |||
[8] | Effective 31 March 2018, the range of inputs reported for this significant unobservable input is based on normal volatility and the unit has been updated to basis points. Log-normal volatility with the unit as points was reported previously. Prior-period information has been restated to reflect this change in presentation. |
FVM - Level 3 instruments_ Sens
FVM - Level 3 instruments: Sensitivity to changes in unobservable input assumptions (Detail) - CHF (SFr) SFr in Millions | 3 Months Ended | |||
Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | ||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | ||||
Favorable changes | SFr 704 | SFr 656 | SFr 502 | |
Unfavorable changes | (586) | (591) | (450) | |
Traded loans, loans mandatorily at fair value, loan commitments and guarantees | ||||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | ||||
Favorable changes | 89 | 83 | 79 | |
Unfavorable changes | (15) | (18) | (11) | |
Structured securities financing transactions | ||||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | ||||
Favorable changes | 20 | 65 | 34 | |
Unfavorable changes | (15) | (65) | (34) | |
Auction-rate securities | ||||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | ||||
Favorable changes | [1] | 92 | 87 | |
Unfavorable changes | [1] | (92) | 87 | |
Asset-backed securities | ||||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | ||||
Favorable changes | 31 | 31 | 19 | |
Unfavorable changes | (26) | (26) | (15) | |
Equity instruments | ||||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | ||||
Favorable changes | 182 | 134 | 79 | |
Unfavorable changes | (115) | (106) | (53) | |
Interest rate derivative contracts, net | ||||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | ||||
Favorable changes | 12 | 12 | 13 | |
Unfavorable changes | (37) | (28) | (26) | |
Credit derivative contracts, net | ||||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | ||||
Favorable changes | 40 | 33 | 64 | |
Unfavorable changes | (35) | (36) | (99) | |
Foreign exchange derivative contracts, net | ||||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | ||||
Favorable changes | 6 | 8 | 12 | |
Unfavorable changes | (3) | (5) | (6) | |
Equity / index derivative contracts, net | ||||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | ||||
Favorable changes | 212 | 189 | 190 | |
Unfavorable changes | (228) | (205) | (193) | |
Other | ||||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | ||||
Favorable changes | 21 | 14 | 13 | |
Unfavorable changes | SFr (21) | SFr (14) | SFr (13) | |
[1] | Comparative period information as of 31 December 2017 is not disclosed for financial assets that were measured at amortized cost prior to the adoption of IFRS 9 on 1 January 2018. Refer to Note 19 for more information. |
FVM - Movements of level 3 inst
FVM - Movements of level 3 instruments - Assets (Detail) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2018 | Jun. 30, 2018 | Jun. 30, 2017 | Jan. 01, 2018 | ||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Balance at the beginning of the period | [1] | SFr 347,525 | SFr 316,629 | ||
Transfers into Level 3 | 1,000 | ||||
Transfers out of Level 3 | (200) | ||||
Balance at the end of period | [1] | 356,338 | 356,338 | ||
Level 3 | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Balance at the beginning of the period | [1] | 7,957 | 5,489 | ||
Balance at the end of period | [1] | 9,522 | 9,522 | ||
Level 3 | Financial assets at fair value held for trading | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Balance before IFRS 9 adoption | 2,000 | SFr 1,700 | |||
Reclassifications and remeasurements upon adoption of IFRS 9 | SFr 400 | ||||
Balance at the beginning of the period | 2,400 | ||||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [2] | (300) | 0 | ||
Total gains / (losses) included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | (200) | 0 | |||
Purchases | 1,000 | 700 | |||
Sales | (4,800) | (2,300) | |||
Issuances | 4,200 | 1,600 | |||
Settlements | 0 | 0 | |||
Transfers into Level 3 | 800 | 200 | |||
Transfers out of Level 3 | (100) | (200) | |||
Foreign currency translation | 0 | 0 | |||
Balance before IFRS 9 adoption | 1,600 | ||||
Balance at the end of period | [3] | 3,300 | 3,300 | ||
Level 3 | Financial assets at fair value held for trading | Corporate and municipal bonds | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Balance before IFRS 9 adoption | 600 | 600 | |||
Balance at the beginning of the period | 600 | ||||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [2] | (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 | 400 | 300 | |||
Sales | (800) | (100) | |||
Issuances | 0 | 0 | |||
Settlements | 0 | 0 | |||
Transfers into Level 3 | 600 | 100 | |||
Transfers out of Level 3 | 0 | 0 | |||
Foreign currency translation | 0 | 0 | |||
Balance before IFRS 9 adoption | 800 | ||||
Balance at the end of period | [3] | 600 | 600 | ||
Level 3 | Financial assets at fair value held for trading | Loans | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Balance before IFRS 9 adoption | 500 | 700 | |||
Reclassifications and remeasurements upon adoption of IFRS 9 | 400 | ||||
Balance at the beginning of the period | 900 | ||||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [2] | 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 | 300 | 300 | |||
Sales | (3,600) | (2,100) | |||
Issuances | 4,200 | 1,600 | |||
Settlements | 0 | 0 | |||
Transfers into Level 3 | 0 | 0 | |||
Transfers out of Level 3 | 0 | (100) | |||
Foreign currency translation | 0 | 0 | |||
Balance before IFRS 9 adoption | 500 | ||||
Balance at the end of period | [3] | 1,700 | 1,700 | ||
Level 3 | Financial assets at fair value held for trading | Investment fund units | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Balance before IFRS 9 adoption | 600 | 100 | |||
Balance at the beginning of the period | 600 | ||||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [2] | (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 | 100 | 0 | |||
Sales | (100) | 0 | |||
Issuances | 0 | 0 | |||
Settlements | 0 | 0 | |||
Transfers into Level 3 | 100 | 0 | |||
Transfers out of Level 3 | 0 | 0 | |||
Foreign currency translation | 0 | 0 | |||
Balance before IFRS 9 adoption | 0 | ||||
Balance at the end of period | [3] | 500 | 500 | ||
Level 3 | Financial assets at fair value held for trading | Other | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Balance before IFRS 9 adoption | 300 | 400 | |||
Balance at the beginning of the period | 300 | ||||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [2] | (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 | 300 | 0 | |||
Sales | (300) | (100) | |||
Issuances | 0 | 0 | |||
Settlements | 0 | 0 | |||
Transfers into Level 3 | 100 | 0 | |||
Transfers out of Level 3 | 0 | 0 | |||
Foreign currency translation | 0 | 0 | |||
Balance before IFRS 9 adoption | 300 | ||||
Balance at the end of period | [3] | 300 | 300 | ||
Level 3 | Financial assets at fair value not held for trading | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Balance before IFRS 9 adoption | 1,400 | 2,100 | |||
Reclassifications and remeasurements upon adoption of IFRS 9 | 2,900 | ||||
Balance at the beginning of the period | 4,300 | ||||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [2] | 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 | 1,000 | 0 | |||
Sales | (900) | 0 | |||
Issuances | 0 | 300 | |||
Settlements | 0 | (700) | |||
Transfers into Level 3 | 100 | 0 | |||
Transfers out of Level 3 | (100) | (100) | |||
Foreign currency translation | 100 | 0 | |||
Balance before IFRS 9 adoption | 1,600 | ||||
Balance at the end of period | [3] | 4,800 | 4,800 | ||
Level 3 | Financial assets at fair value not held for trading | Loans (including structured loans) | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Balance before IFRS 9 adoption | 800 | 1,200 | |||
Reclassifications and remeasurements upon adoption of IFRS 9 | 600 | ||||
Balance at the beginning of the period | 1,300 | ||||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [2] | (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) | 100 | |||
Purchases | 1,000 | 0 | |||
Sales | (300) | 0 | |||
Issuances | 0 | 0 | |||
Settlements | 0 | (700) | |||
Transfers into Level 3 | 100 | 0 | |||
Transfers out of Level 3 | 0 | (100) | |||
Foreign currency translation | 0 | 0 | |||
Balance before IFRS 9 adoption | 500 | ||||
Balance at the end of period | [3] | 1,900 | 1,900 | ||
Level 3 | Financial assets at fair value not held for trading | Auction-rate securities | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Reclassifications and remeasurements upon adoption of IFRS 9 | [4] | 1,800 | |||
Balance at the beginning of the period | [4] | 1,800 | |||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [2],[4] | 100 | |||
Total gains / (losses) included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | [4] | 100 | |||
Purchases | [4] | 0 | |||
Sales | [4] | (200) | |||
Issuances | [4] | 0 | |||
Settlements | [4] | 0 | |||
Transfers into Level 3 | [4] | 0 | |||
Transfers out of Level 3 | [4] | 0 | |||
Foreign currency translation | [4] | 100 | |||
Balance at the end of period | [3],[4] | 1,800 | 1,800 | ||
Level 3 | Financial assets at fair value not held for trading | Equity instruments | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Reclassifications and remeasurements upon adoption of IFRS 9 | 400 | ||||
Balance at the beginning of the period | 400 | ||||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [2] | 100 | |||
Total gains / (losses) included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | 100 | ||||
Purchases | 0 | ||||
Sales | 0 | ||||
Issuances | 0 | ||||
Settlements | 0 | ||||
Transfers into Level 3 | 0 | ||||
Transfers out of Level 3 | 0 | ||||
Foreign currency translation | 0 | ||||
Balance at the end of period | [3] | 500 | 500 | ||
Level 3 | Financial assets at fair value not held for trading | Other | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Balance before IFRS 9 adoption | 700 | 900 | |||
Reclassifications and remeasurements upon adoption of IFRS 9 | 100 | ||||
Balance at the beginning of the period | 800 | ||||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [2] | 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 | 0 | 0 | |||
Sales | (300) | 0 | |||
Issuances | 0 | 300 | |||
Settlements | 0 | (100) | |||
Transfers into Level 3 | 0 | 0 | |||
Transfers out of Level 3 | (100) | 0 | |||
Foreign currency translation | 0 | 0 | |||
Balance before IFRS 9 adoption | 1,100 | ||||
Balance at the end of period | [3] | 500 | 500 | ||
Level 3 | Financial assets measured at fair value through other comprehensive income | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Balance before IFRS 9 adoption | 500 | 500 | |||
Reclassifications and remeasurements upon adoption of IFRS 9 | SFr (500) | ||||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [2] | 0 | |||
Total gains / (losses) included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | 0 | ||||
Purchases | 0 | ||||
Sales | 0 | ||||
Issuances | 0 | ||||
Settlements | 0 | ||||
Transfers into Level 3 | 0 | ||||
Transfers out of Level 3 | 0 | ||||
Foreign currency translation | 0 | ||||
Balance before IFRS 9 adoption | 500 | ||||
Level 3 | Derivative financial assets | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Balance before IFRS 9 adoption | 1,500 | 2,500 | |||
Balance at the beginning of the period | 1,500 | ||||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [2] | 0 | (200) | ||
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 | 400 | 400 | |||
Settlements | (600) | (500) | |||
Transfers into Level 3 | 100 | 100 | |||
Transfers out of Level 3 | 0 | (500) | |||
Foreign currency translation | 0 | 0 | |||
Balance before IFRS 9 adoption | 1,900 | ||||
Balance at the end of period | [3] | 1,500 | 1,500 | ||
Level 3 | Derivative financial assets | Credit derivative contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Balance before IFRS 9 adoption | 500 | 1,300 | |||
Balance at the beginning of the period | 500 | ||||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [2] | (100) | (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 | 0 | |||
Settlements | (100) | (100) | |||
Transfers into Level 3 | 0 | 0 | |||
Transfers out of Level 3 | 0 | (300) | |||
Foreign currency translation | 0 | 0 | |||
Balance before IFRS 9 adoption | 800 | ||||
Balance at the end of period | [3] | 500 | 500 | ||
Level 3 | Derivative financial assets | Equity / index contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Balance before IFRS 9 adoption | 700 | 700 | |||
Balance at the beginning of the period | 700 | ||||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [2] | 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 | 400 | 400 | |||
Settlements | (500) | (200) | |||
Transfers into Level 3 | 100 | 100 | |||
Transfers out of Level 3 | (100) | (100) | |||
Foreign currency translation | 0 | 0 | |||
Balance before IFRS 9 adoption | 800 | ||||
Balance at the end of period | [3] | 600 | 600 | ||
Level 3 | Derivative financial assets | Other | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Balance before IFRS 9 adoption | 300 | 500 | |||
Balance at the beginning of the period | 300 | ||||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [2] | 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 | (100) | |||
Purchases | 0 | 0 | |||
Sales | 0 | 0 | |||
Issuances | 0 | 0 | |||
Settlements | 0 | (200) | |||
Transfers into Level 3 | 0 | 0 | |||
Transfers out of Level 3 | 0 | (100) | |||
Foreign currency translation | 0 | 0 | |||
Balance before IFRS 9 adoption | SFr 300 | ||||
Balance at the end of period | [3] | SFr 400 | SFr 400 | ||
[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] | Net gains / (losses) included in comprehensive income are comprised of Net interest income, Other net income from fair value changes on financial instruments and Other income. | ||||
[3] | Total Level 3 assets as of 30 June 2018 were CHF 9.5 billion (31 March 2018: CHF 8.0 billion, 31 December 2017: CHF 5.5 billion). Total Level 3 liabilities as of 30 June 2018 were CHF 13.7 billion (31 March 2018: CHF 16.0 billion, 31 December 2017: CHF 15.7 billion). | ||||
[4] | Comparative period information is not disclosed for items that were measured at amortized cost prior to the adoption of IFRS 9 on 1 January 2018. Refer to Note 19 for more information. |
FVM - Movements of level 3 in68
FVM - Movements of level 3 instruments - Liabilities (Detail) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2018 | Jun. 30, 2018 | Jun. 30, 2017 | Jan. 01, 2018 | ||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Balance at the beginning of the period | [1] | SFr 267,983 | SFr 212,323 | ||
Transfers into Level 3 | 1,700 | ||||
Transfers out of Level 3 | (4,100) | ||||
Balance at the end of period | [1] | 282,734 | 282,734 | ||
Level 3 | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Balance at the beginning of the period | [1] | 15,984 | 15,750 | ||
Balance at the end of period | [1] | 13,737 | 13,737 | ||
Level 3 | Derivative financial liabilities | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Balance at the beginning of the period, before IFRS 9 adoption | 2,800 | SFr 4,000 | |||
Reclassifications and remeasurements upon adoption of IFRS 9 | SFr 0 | ||||
Balance at the beginning of the period | 2,800 | ||||
Total gains / losses included in comprehensive income - Net gains / losses included in income | [2] | (300) | (100) | ||
Total gains / losses included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | (300) | (200) | |||
Purchases | 0 | 0 | |||
Sales | 0 | 0 | |||
Issuances | 700 | 500 | |||
Settlements | (800) | (1,000) | |||
Transfers into Level 3 | 400 | 100 | |||
Transfers out of Level 3 | (500) | (700) | |||
Foreign currency translation | 0 | 0 | |||
Balance at the end of period, before IFRS 9 adoption | 2,400 | 2,400 | 2,800 | ||
Balance at the end of period | [3] | 2,400 | 2,400 | ||
Level 3 | Derivative financial liabilities | Credit derivative contracts | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Balance at the beginning of the period, before IFRS 9 adoption | 600 | 1,500 | |||
Balance at the beginning of the period | 600 | ||||
Total gains / losses included in comprehensive income - Net gains / losses included in income | [2] | 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 | (100) | |||
Purchases | 0 | 0 | |||
Sales | 0 | 0 | |||
Issuances | 100 | 0 | |||
Settlements | 0 | (200) | |||
Transfers into Level 3 | 100 | 0 | |||
Transfers out of Level 3 | (100) | (300) | |||
Foreign currency translation | 0 | 0 | |||
Balance at the end of period, before IFRS 9 adoption | 600 | 600 | 1,000 | ||
Balance at the end of period | [3] | 600 | 600 | ||
Level 3 | Derivative financial liabilities | Equity / index contracts | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Balance at the beginning of the period, before IFRS 9 adoption | 1,900 | 1,900 | |||
Balance at the beginning of the period | 1,900 | ||||
Total gains / losses included in comprehensive income - Net gains / losses included in income | [2] | (300) | 0 | ||
Total gains / losses included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | (200) | 0 | |||
Purchases | 0 | 0 | |||
Sales | 0 | 0 | |||
Issuances | 600 | 500 | |||
Settlements | (700) | (500) | |||
Transfers into Level 3 | 200 | 100 | |||
Transfers out of Level 3 | (400) | (400) | |||
Foreign currency translation | 0 | 0 | |||
Balance at the end of period, before IFRS 9 adoption | 1,400 | 1,400 | 1,400 | ||
Balance at the end of period | [3] | 1,400 | 1,400 | ||
Level 3 | Derivative financial liabilities | Other | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Balance at the beginning of the period, before IFRS 9 adoption | 300 | 600 | |||
Reclassifications and remeasurements upon adoption of IFRS 9 | SFr 0 | ||||
Balance at the beginning of the period | 300 | ||||
Total gains / losses included in comprehensive income - Net gains / losses included in income | [2] | 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 | 0 | |||
Settlements | 0 | (200) | |||
Transfers into Level 3 | 100 | 0 | |||
Transfers out of Level 3 | 0 | (100) | |||
Foreign currency translation | 0 | 0 | |||
Balance at the end of period, before IFRS 9 adoption | 400 | 400 | 500 | ||
Balance at the end of period | [3] | 400 | 400 | ||
Level 3 | Debt issued designated at fair value | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Balance at the beginning of the period, before IFRS 9 adoption | 10,900 | 9,700 | |||
Balance at the beginning of the period | 10,900 | ||||
Total gains / losses included in comprehensive income - Net gains / losses included in income | [2] | 600 | 1,000 | ||
Total gains / losses included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | 500 | 800 | |||
Purchases | 0 | 0 | |||
Sales | 0 | 0 | |||
Issuances | 3,200 | 2,500 | |||
Settlements | (2,400) | (2,000) | |||
Transfers into Level 3 | 1,300 | 200 | |||
Transfers out of Level 3 | (3,600) | (900) | |||
Foreign currency translation | 100 | (300) | |||
Balance at the end of period, before IFRS 9 adoption | 10,200 | 10,200 | 10,200 | ||
Balance at the end of period | [3] | 10,200 | 10,200 | ||
Level 3 | Debt issued designated at fair value | Structured Notes | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Transfers out of Level 3 | (2,800) | ||||
Level 3 | Other financial liabilities designated at fair value | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Balance at the beginning of the period, before IFRS 9 adoption | 1,900 | 1,300 | |||
Balance at the beginning of the period | 1,900 | ||||
Total gains / losses included in comprehensive income - Net gains / losses included in income | [2] | (600) | 0 | ||
Total gains / losses included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | (600) | 0 | |||
Purchases | 0 | 0 | |||
Sales | 0 | 0 | |||
Issuances | 400 | 1,300 | |||
Settlements | (700) | (500) | |||
Transfers into Level 3 | 0 | 0 | |||
Transfers out of Level 3 | 0 | (200) | |||
Foreign currency translation | 0 | 0 | |||
Balance at the end of period, before IFRS 9 adoption | 1,100 | 1,100 | SFr 1,900 | ||
Balance at the end of period | [3] | SFr 1,100 | SFr 1,100 | ||
[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] | Net gains / (losses) included in comprehensive income are comprised of Net interest income, Other net income from fair value changes on financial instruments and Other income. | ||||
[3] | Total Level 3 assets as of 30 June 2018 were CHF 9.5 billion (31 March 2018: CHF 8.0 billion, 31 December 2017: CHF 5.5 billion). Total Level 3 liabilities as of 30 June 2018 were CHF 13.7 billion (31 March 2018: CHF 16.0 billion, 31 December 2017: CHF 15.7 billion). |
FVM - Movements of level 3 in69
FVM - Movements of level 3 instruments (Narrative) (Detail) SFr in Billions | 3 Months Ended |
Jun. 30, 2018CHF (SFr) | |
Disclosure Of Fair Value Measurement [Line Items] | |
Transfers Into Level 3 Of Fair Value Hierarchy Assets | SFr 1 |
Transfers Out Of Level 3 Of Fair Value Hierarchy Assets | SFr 0.2 |
Description Of Reasons For Transfers Into Level 3 Of Fair Value Hierarchy Assets | reflecting decreased observability of the respective bond price equivalent inputs. |
Description Of Reasons For Transfers Out Of Level 3 Of Fair Value Hierarchy Assets | due to increased observability of the respective equity volatility inputs. |
Transfers Into Level 3 Of Fair Value Hierarchy Liabilities | SFr 1.7 |
Transfers Out Of Level 3 Of Fair Value Hierarchy Liabilities | SFr 4.1 |
Description Of Reasons For Transfers Into Level 3 Of Fair Value Hierarchy Liabilities | due to decreased observability of the embedded derivative inputs. |
Description Of Reasons For Transfers Out Of Level 3 Of Fair Value Hierarchy Liabilities | resulting from changes in the observability of the respective OCA curve and equity volatility inputs used to determine the fair value of these instruments. |
FVM - Financial instruments not
FVM - Financial instruments not measured at fair value - Assets (Detail) - CHF (SFr) SFr in Millions | Jun. 30, 2018 | Mar. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | |
Carrying value | |||||
Cash and balances at central banks | SFr 102,262 | SFr 92,800 | SFr 87,775 | SFr 87,775 | |
Loans and advances to banks | 15,577 | 13,338 | 13,719 | 13,739 | |
Receivables from securities financing transactions | 76,450 | 77,016 | 84,674 | 89,633 | |
Cash collateral receivables on derivative instruments | 24,937 | 24,271 | 23,434 | 23,434 | |
Loans and advances to customers | 318,278 | 316,195 | 310,451 | 318,509 | |
Other financial assets measured at amortized cost | 20,996 | 19,129 | SFr 18,302 | 36,861 | |
Fair Value | |||||
Financial assets, at fair value | [1] | 356,338 | 347,525 | 316,629 | |
Not measured at fair value | |||||
Carrying value | |||||
Cash and balances at central banks | 102,300 | 92,800 | 87,800 | ||
Loans and advances to banks | 15,600 | 13,300 | 13,700 | ||
Receivables from securities financing transactions | 76,400 | 77,000 | 89,600 | ||
Cash collateral receivables on derivative instruments | 24,900 | 24,300 | 23,400 | ||
Loans and advances to customers | 318,300 | 316,200 | 318,500 | ||
Other financial assets measured at amortized cost | 21,000 | 19,100 | 36,900 | ||
Not measured at fair value | Cash and balances at central banks | |||||
Fair Value | |||||
Financial assets, at fair value | 102,300 | 92,800 | 87,800 | ||
Not measured at fair value | Loans and advances to banks | |||||
Fair Value | |||||
Financial assets, at fair value | 15,600 | 13,300 | 13,700 | ||
Not measured at fair value | Receivables from securities financing transactions | |||||
Fair Value | |||||
Financial assets, at fair value | 76,400 | 77,000 | 89,600 | ||
Not measured at fair value | Cash collateral receivables on derivative instruments | |||||
Fair Value | |||||
Financial assets, at fair value | 24,900 | 24,300 | 23,400 | ||
Not measured at fair value | Loans and advances to customers | |||||
Fair Value | |||||
Financial assets, at fair value | 318,800 | 317,000 | 319,900 | ||
Not measured at fair value | Other financial assets measured at amortized cost | |||||
Fair Value | |||||
Financial assets, at fair value | SFr 20,700 | SFr 18,900 | SFr 36,700 | ||
[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. |
FVM - Financial instruments n71
FVM - Financial instruments not measured at fair value - Liabilities (Detail) - CHF (SFr) SFr in Millions | Jun. 30, 2018 | Mar. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | ||||
Carrying value | ||||||||
Amounts due to banks | SFr 10,242 | SFr 9,024 | SFr 7,533 | SFr 7,533 | ||||
Payables from securities financing transactions | 10,130 | 9,167 | 11,963 | 17,044 | ||||
Cash collateral payables on derivative instruments | 31,843 | 29,426 | 30,247 | 30,247 | ||||
Customer deposits | 403,430 | 398,604 | 403,731 | 408,999 | ||||
Debt issued measured at amortized cost | 137,530 | [1] | 137,883 | [1] | 139,551 | 139,551 | [1] | |
Other financial liabilities measured at amortized cost | 6,909 | 5,911 | SFr 6,686 | 36,337 | ||||
Fair Value | ||||||||
Financial liabilities, at fair value | [2] | 282,734 | 267,983 | 212,323 | ||||
Not measured at fair value | ||||||||
Carrying value | ||||||||
Amounts due to banks | 10,200 | 9,000 | 7,500 | |||||
Payables from securities financing transactions | 10,100 | 9,200 | 17,000 | |||||
Cash collateral payables on derivative instruments | 31,800 | 29,400 | 30,200 | |||||
Customer deposits | 403,400 | 398,600 | 409,000 | |||||
Debt issued measured at amortized cost | 137,500 | 137,900 | 139,600 | |||||
Other financial liabilities measured at amortized cost | 6,900 | 5,900 | 36,300 | |||||
Not measured at fair value | Amount due to banks | ||||||||
Fair Value | ||||||||
Financial liabilities, at fair value | 10,200 | 9,000 | 7,500 | |||||
Not measured at fair value | Payables from securities financing transactions | ||||||||
Fair Value | ||||||||
Financial liabilities, at fair value | 10,100 | 9,200 | 17,000 | |||||
Not measured at fair value | Cash collateral payables on derivative instruments | ||||||||
Fair Value | ||||||||
Financial liabilities, at fair value | 31,800 | 29,400 | 30,200 | |||||
Not measured at fair value | Customer deposits | ||||||||
Fair Value | ||||||||
Financial liabilities, at fair value | 403,400 | 398,600 | 409,000 | |||||
Not measured at fair value | Debt issued measured at amortized cost | ||||||||
Fair Value | ||||||||
Financial liabilities, at fair value | 140,100 | 140,900 | 143,500 | |||||
Not measured at fair value | Other financial liabilities measured at amortized cost | ||||||||
Fair Value | ||||||||
Financial liabilities, at fair value | SFr 6,900 | SFr 5,900 | SFr 36,300 | |||||
[1] | Net of bifurcated embedded derivatives, the fair value of which was not material for the periods presented. | |||||||
[2] | 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. |
Derivative instruments (Detail)
Derivative instruments (Detail) - CHF (SFr) SFr in Millions | Jun. 30, 2018 | Mar. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | ||||
Derivative [Line Items] | ||||||||
Derivative financial assets | SFr 121,604 | [1],[2] | SFr 113,333 | [1],[2] | SFr 118,227 | SFr 118,227 | [1],[2] | |
Notional values related to derivative financial assets | [1],[2],[3] | 4,533,000 | 4,382,000 | 4,063,000 | ||||
Derivative financial liabilities | 119,223 | [1],[2] | 111,945 | [1],[2] | SFr 116,191 | 116,133 | [1],[2] | |
Notional values related to derivative financial liabilities | [1],[2],[3] | 4,371,000 | 4,197,000 | 3,878,000 | ||||
Other notional values | [1],[2],[4] | 11,435,000 | 11,273,000 | 10,555,000 | ||||
Derivative loan commitments | 0 | 100 | 0 | |||||
Derivative loan commitments, notional amounts | 8,100 | 3,900 | 5,300 | |||||
Interest rate contracts | ||||||||
Derivative [Line Items] | ||||||||
Derivative financial assets | [1] | 38,800 | [5] | 41,200 | 44,000 | |||
Notional values related to derivative financial assets | [1],[3] | 1,169,000 | [5] | 1,231,000 | 1,142,000 | |||
Derivative financial liabilities | [1] | 34,000 | [5] | 36,300 | 38,400 | |||
Notional values related to derivative financial liabilities | [1],[3] | 1,093,000 | [5] | 1,103,000 | 1,044,000 | |||
Other notional values | [1],[4] | 11,322,000 | [5] | 11,173,000 | 10,462,000 | |||
Credit derivative contracts | ||||||||
Derivative [Line Items] | ||||||||
Derivative financial assets | [1] | 2,100 | [5] | 2,400 | 2,800 | |||
Notional values related to derivative financial assets | [1],[3] | 81,000 | [5] | 88,000 | 92,000 | |||
Derivative financial liabilities | [1] | 3,200 | [5] | 3,400 | 3,800 | |||
Notional values related to derivative financial liabilities | [1],[3] | 83,000 | [5] | 93,000 | 98,000 | |||
Other notional values | [1],[4] | 0 | [5] | 0 | 1,000 | |||
Foreign exchange contracts | ||||||||
Derivative [Line Items] | ||||||||
Derivative financial assets | [1] | 53,700 | [5] | 42,600 | 47,100 | |||
Notional values related to derivative financial assets | [1],[3] | 2,736,000 | [5] | 2,547,000 | 2,389,000 | |||
Derivative financial liabilities | [1] | 53,600 | [5] | 42,400 | 45,500 | |||
Notional values related to derivative financial liabilities | [1],[3] | 2,588,000 | [5] | 2,445,000 | 2,193,000 | |||
Other notional values | [1],[4] | 1,000 | [5] | 0 | 0 | |||
Equity / index contracts | ||||||||
Derivative [Line Items] | ||||||||
Derivative financial assets | [1] | 24,900 | [5] | 25,000 | 22,200 | |||
Notional values related to derivative financial assets | [1],[3] | 446,000 | [5] | 412,000 | 380,000 | |||
Derivative financial liabilities | [1] | 26,500 | [5] | 27,800 | 26,700 | |||
Notional values related to derivative financial liabilities | [1],[3] | 530,000 | [5] | 474,000 | 487,000 | |||
Other notional values | [1],[4] | 101,000 | [5] | 91,000 | 83,000 | |||
Commodity contracts | ||||||||
Derivative [Line Items] | ||||||||
Derivative financial assets | [1] | 1,600 | [5] | 1,400 | 1,700 | |||
Notional values related to derivative financial assets | [1],[3] | 44,000 | [5] | 39,000 | 33,000 | |||
Derivative financial liabilities | [1] | 1,400 | [5] | 1,200 | 1,600 | |||
Notional values related to derivative financial liabilities | [1],[3] | 39,000 | [5] | 39,000 | 37,000 | |||
Other notional values | [1],[4] | 11,000 | [5] | 9,000 | 8,000 | |||
Unsettled purchases of non-derivative financial instruments | ||||||||
Derivative [Line Items] | ||||||||
Derivative financial assets | [1],[6] | 200 | [5] | 400 | 100 | |||
Notional values related to derivative financial assets | [1],[3],[6] | 26,000 | [5] | 36,000 | 12,000 | |||
Derivative financial liabilities | [1],[6] | 200 | [5] | 300 | 100 | |||
Notional values related to derivative financial liabilities | [1],[3],[6] | 18,000 | [5] | 15,000 | 11,000 | |||
Unsettled sales of non-derivative financial instruments | ||||||||
Derivative [Line Items] | ||||||||
Derivative financial assets | [1],[6] | 300 | [5] | 300 | 100 | |||
Notional values related to derivative financial assets | [1],[3],[6] | 31,000 | [5] | 28,000 | 15,000 | |||
Derivative financial liabilities | [1],[6] | 300 | [5] | 500 | 100 | |||
Notional values related to derivative financial liabilities | [1],[3],[6] | SFr 20,000 | [5] | SFr 28,000 | SFr 9,000 | |||
[1] | Derivative financial liabilities as of 30 June 2018 include CHF 0.0 billion related to derivative loan commitments (31 March 2018: CHF 0.1 billion; 31 December 2017: CHF 0.0 billion). No notional amounts related to these commitments are included in this table but they are disclosed within Note 16 under Loan commitments with a committed amount of CHF 8.1 billion as of 30 June 2018 (31 March 2018: CHF 3.9 billion; 31 December 2017: CHF 5.3 billion). | |||||||
[2] | Financial assets and liabilities are presented net on the balance sheet if UBS has the unconditional and legally enforceable right to offset the recognized amounts, both in the normal course of business and in the event of default, bankruptcy or insolvency of the entity and all of the counterparties, and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously. | |||||||
[3] | In cases where derivative financial instruments are presented on a net basis on the balance sheet, the respective notional values of the netted derivative financial instruments are still presented on a gross basis. | |||||||
[4] | Other notional values relate to derivatives that are cleared through either a central 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 all periods presented. | |||||||
[5] | Upon adoption of IFRS 9 on 1 January 2018, certain forward starting repurchase and reverse repurchase agreements have been classified as measured at fair value through profit or loss and are recognized within derivative instruments. The fair value of these derivative instruments was not material as of 30 June 2018 or 31 March 2018. No notional amounts related to these instruments are included in this table, but they are disclosed within Note 16 under Forward starting transactions. | |||||||
[6] | Changes in the fair value of purchased and sold non-derivative financial instruments between trade date and settlement date are recognized as derivative financial instruments. |
Offsetting financial assets (De
Offsetting financial assets (Detail) - CHF (SFr) SFr in Billions | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | |
Derivative financial assets | ||||
Disclosure Of Offsetting Of Financial Assets [Line Items] | ||||
Assets based on IFRS netting | [1] | SFr 121.6 | SFr 113.3 | SFr 118.2 |
Further netting potential not recognized on the balance sheet | [2] | (106.6) | (99.3) | (104.2) |
of which: netting of recognized financial liabilities | (87.4) | (80.7) | (83.5) | |
of which: netting with collateral received | (19.2) | (18.6) | (20.7) | |
Assets, after consideration of further netting potential | 15.1 | 14.1 | 14 | |
Cash collateral receivables on derivative instruments | ||||
Disclosure Of Offsetting Of Financial Assets [Line Items] | ||||
Assets based on IFRS netting | [1] | 24.9 | 24.3 | 23.4 |
Further netting potential not recognized on the balance sheet | [2] | (13) | (13.5) | (12.5) |
of which: netting of recognized financial liabilities | (12.5) | (12.9) | (11.7) | |
of which: netting with collateral received | (0.5) | (0.6) | (0.7) | |
Assets, after consideration of further netting potential | SFr 11.9 | SFr 10.7 | SFr 11 | |
[1] | Financial assets and liabilities are presented net on the balance sheet if UBS has the unconditional and legally enforceable right to offset the recognized amounts, both in the normal course of business and in the event of default, bankruptcy or insolvency of the entity and all of the counterparties, and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously. | |||
[2] | Reflects the netting potential in accordance with enforceable master netting and similar arrangements where not all criteria for a net presentation on the balance sheet have been met. Refer to “Note 24 Offsetting financial assets and financial liabilities” in the “Consolidated financial statements” section of the Annual Report 2017 for more information. |
Offsetting financial liabilitie
Offsetting financial liabilities (Detail) - CHF (SFr) SFr in Billions | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | |
Derivative financial liabilities | ||||
Disclosure Of Offsetting Of Financial Liabilities [Line Items] | ||||
Liabilities based on IFRS netting | [1] | SFr 119.2 | SFr 111.9 | SFr 116.1 |
Further netting potential not recognized on the balance sheet | [2] | (103.1) | (96.8) | (98.5) |
of which: netting of recognized financial assets | (87.4) | (80.7) | (83.5) | |
of which: netting with collateral pledged | (15.7) | (16.1) | (15) | |
Liabilities, after consideration of further netting potential | 16.2 | 15.2 | 17.7 | |
Cash collateral payables on derivative instruments | ||||
Disclosure Of Offsetting Of Financial Liabilities [Line Items] | ||||
Liabilities based on IFRS netting | [1] | 31.8 | 29.4 | 30.2 |
Further netting potential not recognized on the balance sheet | [2] | (15.5) | (14.4) | (17.4) |
of which: netting of recognized financial assets | (14.5) | (13.3) | (16.3) | |
of which: netting with collateral pledged | (1) | (1.2) | (1.2) | |
Liabilities, after consideration of further netting potential | SFr 16.4 | SFr 15 | SFr 12.8 | |
[1] | Financial assets and liabilities are presented net on the balance sheet if UBS has the unconditional and legally enforceable right to offset the recognized amounts, both in the normal course of business and in the event of default, bankruptcy or insolvency of the entity and all of the counterparties, and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously. | |||
[2] | Reflects the netting potential in accordance with enforceable master netting and similar arrangements where not all criteria for a net presentation on the balance sheet have been met. Refer to “Note 24 Offsetting financial assets and financial liabilities” in the “Consolidated financial statements” section of the Annual Report 2017 for more information. |
Other financial assets measured
Other financial assets measured at amortized cost (Detail) - CHF (SFr) SFr in Millions | Jun. 30, 2018 | Mar. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | |
Disclosure Of Financial Assets [Line Item] | |||||
Prime brokerage receivables | [1] | SFr 19,080 | |||
Debt securities | SFr 12,241 | SFr 10,610 | 9,166 | ||
of which: government bills / bonds | 9,787 | 7,775 | 6,465 | ||
Loans to financial advisors | [2] | 3,394 | 3,326 | 3,118 | |
Fee and commission related receivables | 1,751 | 1,679 | 1,780 | ||
Finance lease receivables | 1,076 | 1,070 | 1,059 | ||
Settlement and clearing accounts | 448 | 557 | 716 | ||
Accrued interest income | 667 | 609 | 577 | ||
Other | 1,417 | 1,279 | 1,365 | ||
Total other financial assets measured at amortized cost | SFr 20,996 | SFr 19,129 | SFr 18,302 | SFr 36,861 | |
[1] | Upon adoption of IFRS 9 on 1 January 2018, the classification of prime brokerage receivables and payables changed from amortized cost to fair value through profit or loss, and brokerage receivables and payables are now presented separately on the balance sheet. Refer to Note 19 for more information. | ||||
[2] | Related to financial advisors in the US and Canada. |
Other non-financial assets (Det
Other non-financial assets (Detail) - CHF (SFr) SFr in Millions | Jun. 30, 2018 | Mar. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | |
Other Non-Financial Assets [Line Items] | |||||
Precious metals and other physical commodities | SFr 3,975 | SFr 4,032 | SFr 4,563 | ||
Bail deposit | [1] | 1,320 | 1,336 | 1,337 | |
Prepaid expenses | 1,037 | 1,065 | 1,013 | ||
Net defined benefit pension and post-employment assets | 61 | 1 | 0 | ||
VAT and other tax receivables | 384 | 365 | 359 | ||
Properties and other non-current assets held for sale | 65 | 67 | 95 | ||
Other | 482 | 459 | 266 | ||
Total other non-financial assets | SFr 7,324 | SFr 7,324 | SFr 7,633 | SFr 7,633 | |
[1] | Refer to item 1 in Note 15b for more information. |
Other financial liabilities mea
Other financial liabilities measured at amortized cost (Detail) - CHF (SFr) SFr in Millions | Jun. 30, 2018 | Mar. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | |
Disclosure Of Financial Liabilities [Line Items] | |||||
Prime brokerage payables | [1] | SFr 29,646 | |||
Other accrued expenses | SFr 2,178 | SFr 2,277 | 2,444 | ||
Accrued interest expenses | 1,288 | 1,291 | 1,513 | ||
Settlement and clearing accounts | 1,257 | 1,067 | 1,395 | ||
Other | 2,186 | 1,276 | 1,338 | ||
Total other financial liabilities measured at amortized cost | SFr 6,909 | SFr 5,911 | SFr 6,686 | SFr 36,337 | |
[1] | Upon adoption of IFRS 9 on 1 January 2018, the classification of prime brokerage receivables and payables changed from amortized cost to fair value through profit or loss, and brokerage receivables and payables are now presented separately on the balance sheet. Refer to Note 19 for more information. |
Other financial liabilities des
Other financial liabilities designated at fair value (Detail) - CHF (SFr) SFr in Millions | Jun. 30, 2018 | Mar. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 |
Disclosure Of Financial Liabilities [Line Items] | ||||
Amounts due under unit-linked investment contracts | SFr 24,913 | SFr 24,348 | SFr 11,523 | |
Structured securities financing transactions | 6,533 | 5,812 | 375 | |
Over-the-counter debt instruments | 5,888 | 4,270 | 4,317 | |
of which: life-to-date own credit (gain) / loss | (41) | 5 | 36 | |
Loan commitments and guarantees | 8 | 7 | 9 | |
Total other financial liabilities designated at fair value | SFr 37,342 | SFr 34,438 | SFr 21,300 | SFr 16,223 |
Other non-financial liabilities
Other non-financial liabilities (Detail) - CHF (SFr) SFr in Millions | Jun. 30, 2018 | Mar. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 |
Other Non-Financial Liabilities [Line Items] | ||||
Compensation-related liabilities | SFr 5,922 | SFr 5,224 | SFr 7,674 | |
of which: accrued expenses | 1,765 | 1,141 | 2,670 | |
of which: Deferred Contingent Capital Plan | 1,770 | 1,629 | 1,993 | |
of which: other deferred compensation plans | 1,762 | 1,627 | 2,086 | |
of which: net defined benefit pension and post-employment liabilities | 625 | 828 | 925 | |
Current and deferred tax liabilities | 907 | 947 | 912 | |
VAT and other tax payables | 503 | 534 | 415 | |
Deferred income | 240 | 244 | 150 | |
Other | 136 | 67 | 53 | |
Total other non-financial liabilities | SFr 7,708 | SFr 7,016 | SFr 9,205 | SFr 9,205 |
Debt issued designated at fai80
Debt issued designated at fair value (Detail) - CHF (SFr) SFr in Millions | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | |
Issued debt instruments | ||||
Equity-linked | [1] | SFr 39,355 | SFr 36,107 | SFr 34,162 |
Rates-linked | 7,505 | 5,972 | 5,811 | |
Credit-linked | 3,034 | 2,933 | 2,937 | |
Fixed-rate | 4,293 | 4,187 | 3,921 | |
Other | 2,661 | 2,860 | 2,671 | |
Total issued debt designated at fair value | 56,849 | 52,059 | 49,502 | |
of which: issued by UBS AG with original maturity greater than one year | [2] | 41,624 | 38,255 | 37,266 |
of which: life-to-date own credit (gain) / loss | SFr (188) | SFr 14 | SFr 159 | |
Unsecured portion of issued debt instruments with original maturity greater than one year | 99.00% | 99.00% | 99.00% | |
[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. More than 99% of the balance as of 30 June 2018 was unsecured (31 March 2018: more than 99% of the balance was unsecured; 31 December 2017: more than 99% of the balance was unsecured). |
Debt issued measured at amort81
Debt issued measured at amortized cost (Detail) - CHF (SFr) SFr in Millions | Jun. 30, 2018 | Mar. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | ||||
Disclosure Of Financial Liabilities [Line Items] | ||||||||
Certificates of deposit | SFr 12,720 | SFr 18,779 | SFr 23,831 | |||||
Commercial paper | 28,878 | 23,304 | 23,532 | |||||
Other short-term debt | 3,730 | 4,078 | 3,590 | |||||
Short-term debt | [1] | 45,328 | 46,162 | 50,953 | ||||
Senior unsecured debt | 33,699 | 34,729 | 32,268 | |||||
of which: issued by UBS AG with original maturity greater than one year | [2] | 33,697 | 34,725 | 32,256 | ||||
Senior unsecured debt that contributes to total loss-absorbing capacity | 29,123 | 26,431 | 27,233 | |||||
Covered bonds | 4,029 | 4,105 | 4,112 | |||||
Subordinated debt | 16,931 | 18,030 | 16,555 | |||||
of which: high-trigger loss-absorbing additional tier 1 capital instruments | 7,119 | 6,898 | 5,187 | |||||
of which: low-trigger loss-absorbing additional tier 1 capital instruments | 2,359 | 2,342 | 2,383 | |||||
of which: low-trigger loss-absorbing tier 2 capital instruments | 6,748 | 8,097 | 8,286 | |||||
of which: non-Basel III-compliant tier 2 capital instruments | 705 | 694 | 700 | |||||
Debt issued through the Swiss central mortgage institutions | 8,357 | 8,349 | 8,345 | |||||
Other long-term debt | 63 | 77 | 87 | |||||
of which: issued by UBS AG with original maturity greater than one year | [2] | 54 | 58 | 66 | ||||
Long-term debt | [3] | 92,201 | 91,721 | 88,599 | ||||
Total debt issued measured at amortized cost | SFr 137,530 | [4] | SFr 137,883 | [4] | SFr 139,551 | SFr 139,551 | [4] | |
Unsecured portion of senior fixed-rate bonds issued with maturity greater than one year | 100.00% | 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 30 June 2018 was unsecured (31 March 2018: 100% of the balance was unsecured; 31 December 2017: 100% of the balance was unsecured). | |||||||
[3] | Debt with an 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. |
Provisions (Detail)
Provisions (Detail) - CHF (SFr) SFr in Millions | Jun. 30, 2018 | Mar. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | |
Disclosure Of Other Provisions [Line Items] | |||||
Provisions recognized under IAS 37 | SFr 3,012 | SFr 2,937 | SFr 3,100 | ||
Provisions for off-balance sheet financial instruments | [1] | 76 | 72 | 33 | |
Provisions for other credit lines | [1] | 35 | 35 | 0 | |
Total provisions | SFr 3,123 | SFr 3,044 | SFr 3,207 | SFr 3,133 | |
[1] | Provisions recognized in 2018 relate to exposures in the scope of the expected credit loss requirements of IFRS 9. Refer to Notes 9 and 19 for more information. 2017 provisions for off-balance sheet financial instruments relate to loss provisions recognized under IAS 37. |
Provisions recognized under IAS
Provisions recognized under IAS 37 (Detail 1) - CHF (SFr) SFr in Millions | 3 Months Ended | |||
Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | ||
Disclosure Of Other Provisions [Line Items] | ||||
Balance at the beginning of period | SFr 2,937 | |||
Increase in provisions recognized in the income statement | 201 | |||
Release of provisions recognized in the income statement | (44) | |||
Provisions used in conformity with designated purpose | (151) | |||
Capitalized reinstatement costs | (2) | |||
Foreign currency translation / unwind of discount | 71 | |||
Balance at the end of period | 3,012 | |||
Personnel related restructuring provisions | 60 | SFr 63 | SFr 83 | |
Personnel related provisions for onerous lease contracts | 183 | 212 | 235 | |
Real estate related reinstatement costs for leasehold improvements | 90 | 92 | 92 | |
Real estate related provisions for onerous lease contracts | 41 | SFr 42 | SFr 41 | |
Operational risks | ||||
Disclosure Of Other Provisions [Line Items] | ||||
Balance at the beginning of period | [1] | 41 | ||
Increase in provisions recognized in the income statement | [1] | 5 | ||
Release of provisions recognized in the income statement | [1] | (1) | ||
Provisions used in conformity with designated purpose | [1] | (4) | ||
Capitalized reinstatement costs | [1] | 0 | ||
Foreign currency translation / unwind of discount | [1] | 0 | ||
Balance at the end of period | [1] | 41 | ||
Litigation, regulatory and similar matters | ||||
Disclosure Of Other Provisions [Line Items] | ||||
Balance at the beginning of period | [2],[3] | 2,331 | ||
Increase in provisions recognized in the income statement | [2],[3] | 154 | ||
Release of provisions recognized in the income statement | [2],[3] | (13) | ||
Provisions used in conformity with designated purpose | [2],[3] | (94) | ||
Capitalized reinstatement costs | [2] | 0 | ||
Foreign currency translation / unwind of discount | [2],[3] | 64 | ||
Balance at the end of period | [2],[3] | 2,442 | ||
Restructuring | ||||
Disclosure Of Other Provisions [Line Items] | ||||
Balance at the beginning of period | 280 | |||
Increase in provisions recognized in the income statement | 39 | |||
Release of provisions recognized in the income statement | (29) | |||
Provisions used in conformity with designated purpose | (48) | |||
Capitalized reinstatement costs | 0 | |||
Foreign currency translation / unwind of discount | 6 | |||
Balance at the end of period | [4] | 248 | ||
Real estate | ||||
Disclosure Of Other Provisions [Line Items] | ||||
Balance at the beginning of period | 134 | |||
Increase in provisions recognized in the income statement | 0 | |||
Release of provisions recognized in the income statement | 0 | |||
Provisions used in conformity with designated purpose | (2) | |||
Capitalized reinstatement costs | (2) | |||
Foreign currency translation / unwind of discount | 1 | |||
Balance at the end of period | [5] | 132 | ||
Employee benefits | ||||
Disclosure Of Other Provisions [Line Items] | ||||
Balance at the beginning of period | [6] | 66 | ||
Increase in provisions recognized in the income statement | [6] | 1 | ||
Release of provisions recognized in the income statement | [6] | (2) | ||
Provisions used in conformity with designated purpose | [6] | 0 | ||
Capitalized reinstatement costs | [6] | 0 | ||
Foreign currency translation / unwind of discount | [6] | 0 | ||
Balance at the end of period | [6] | 66 | ||
Other | ||||
Disclosure Of Other Provisions [Line Items] | ||||
Balance at the beginning of period | 85 | |||
Increase in provisions recognized in the income statement | 2 | |||
Release of provisions recognized in the income statement | 0 | |||
Provisions used in conformity with designated purpose | (4) | |||
Capitalized reinstatement costs | 0 | |||
Foreign currency translation / unwind of discount | 0 | |||
Balance at the end of period | SFr 83 | |||
[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] | Provisions, if any, for the matters described in this Note are recorded in Global Wealth Management (item 3 and 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 Global 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. | |||
[4] | Primarily consists of personnel-related restructuring provisions of CHF 60 million as of 30 June 2018 (31 March 2018: CHF 63 million, 31 December 2017: CHF 83 million) and provisions for onerous lease contracts of CHF 183 million as of 30 June 2018 (31 March 2018: CHF 212 million, 31 December 2017: CHF 235 million). | |||
[5] | Consists of reinstatement costs for leasehold improvements of CHF 90 million as of 30 June 2018 (31 March 2018: CHF 92 million, 31 December 2017: CHF 92 million) and provisions for onerous lease contracts of CHF 41 million as of 30 June 2018 (31 March 2018: CHF 42 million, 31 December 2017: CHF 41 million). | |||
[6] | Includes provisions for sabbatical and anniversary awards as well as provisions for severance that are not part of restructuring provisions. |
Provisions recognized under I84
Provisions recognized under IAS 37 (Detail 2) - CHF (SFr) SFr in Millions | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | ||
Disclosure Of Other Provisions [Line Items] | |||||
Balance | SFr 3,012 | SFr 2,937 | SFr 3,100 | ||
Operational risks | |||||
Disclosure Of Other Provisions [Line Items] | |||||
Balance | [1] | 41 | 41 | 43 | |
Litigation, regulatory and similar matters | |||||
Disclosure Of Other Provisions [Line Items] | |||||
Balance | [2],[3] | 2,442 | 2,331 | 2,444 | |
Restructuring | |||||
Disclosure Of Other Provisions [Line Items] | |||||
Balance | 248 | [4] | 280 | 322 | |
Real estate | |||||
Disclosure Of Other Provisions [Line Items] | |||||
Balance | 132 | [5] | 134 | 134 | |
Employee benefits | |||||
Disclosure Of Other Provisions [Line Items] | |||||
Balance | [6] | 66 | 66 | 68 | |
Other | |||||
Disclosure Of Other Provisions [Line Items] | |||||
Balance | SFr 83 | SFr 85 | SFr 89 | ||
[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] | Provisions, if any, for the matters described in this Note are recorded in Global Wealth Management (item 3 and 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 Global 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. | ||||
[4] | Primarily consists of personnel-related restructuring provisions of CHF 60 million as of 30 June 2018 (31 March 2018: CHF 63 million, 31 December 2017: CHF 83 million) and provisions for onerous lease contracts of CHF 183 million as of 30 June 2018 (31 March 2018: CHF 212 million, 31 December 2017: CHF 235 million). | ||||
[5] | Consists of reinstatement costs for leasehold improvements of CHF 90 million as of 30 June 2018 (31 March 2018: CHF 92 million, 31 December 2017: CHF 92 million) and provisions for onerous lease contracts of CHF 41 million as of 30 June 2018 (31 March 2018: CHF 42 million, 31 December 2017: CHF 41 million). | ||||
[6] | Includes provisions for sabbatical and anniversary awards as well as provisions for severance that are not part of restructuring provisions. |
Provisions (Narrative) (Detail)
Provisions (Narrative) (Detail) | 3 Months Ended |
Jun. 30, 2018 | |
Restructuring | |
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 si86
Litigation, regulatory and similar matters (Detail) SFr in Millions | 3 Months Ended | |
Jun. 30, 2018CHF (SFr) | ||
Disclosure Of Other Provisions [Line Items] | ||
Balance at the beginning of period | SFr 2,937 | |
Increase in provisions recognized in the income statement | 201 | |
Release of provisions recognized in the income statement | (44) | |
Provisions used in conformity with designated purpose | (151) | |
Foreign currency translation / unwind of discount | 71 | |
Balance at the end of period | 3,012 | |
Litigation, regulatory and similar matters | ||
Disclosure Of Other Provisions [Line Items] | ||
Balance at the beginning of period | 2,331 | [1],[2] |
Increase in provisions recognized in the income statement | 154 | [1],[2] |
Release of provisions recognized in the income statement | (13) | [1],[2] |
Provisions used in conformity with designated purpose | (94) | [1],[2] |
Foreign currency translation / unwind of discount | 64 | [1],[2] |
Balance at the end of period | 2,442 | [1],[2] |
Litigation, regulatory and similar matters | Global Wealth Management | ||
Disclosure Of Other Provisions [Line Items] | ||
Balance at the beginning of period | 546 | [2] |
Increase in provisions recognized in the income statement | 69 | [2] |
Release of provisions recognized in the income statement | (12) | [2] |
Provisions used in conformity with designated purpose | (47) | [2] |
Foreign currency translation / unwind of discount | 11 | [2] |
Balance at the end of period | 567 | [2] |
Litigation, regulatory and similar matters | Personal & Corporate Banking | ||
Disclosure Of Other Provisions [Line Items] | ||
Balance at the beginning of period | 79 | [2] |
Increase in provisions recognized in the income statement | 0 | [2] |
Release of provisions recognized in the income statement | 0 | [2] |
Provisions used in conformity with designated purpose | (3) | [2] |
Foreign currency translation / unwind of discount | 0 | [2] |
Balance at the end of period | 75 | [2] |
Litigation, regulatory and similar matters | Asset Management | ||
Disclosure Of Other Provisions [Line Items] | ||
Balance at the beginning of period | 1 | [2] |
Increase in provisions recognized in the income statement | 0 | [2] |
Release of provisions recognized in the income statement | 0 | [2] |
Provisions used in conformity with designated purpose | 0 | [2] |
Foreign currency translation / unwind of discount | 0 | [2] |
Balance at the end of period | 0 | [2] |
Litigation, regulatory and similar matters | Investment Bank | ||
Disclosure Of Other Provisions [Line Items] | ||
Balance at the beginning of period | 323 | [2] |
Increase in provisions recognized in the income statement | 3 | [2] |
Release of provisions recognized in the income statement | 0 | [2] |
Provisions used in conformity with designated purpose | (1) | [2] |
Foreign currency translation / unwind of discount | 9 | [2] |
Balance at the end of period | 333 | [2] |
Litigation, regulatory and similar matters | CC - Services | ||
Disclosure Of Other Provisions [Line Items] | ||
Balance at the beginning of period | 216 | [2] |
Increase in provisions recognized in the income statement | 1 | [2] |
Release of provisions recognized in the income statement | 0 | [2] |
Provisions used in conformity with designated purpose | 0 | [2] |
Foreign currency translation / unwind of discount | 0 | [2] |
Balance at the end of period | 216 | [2] |
Litigation, regulatory and similar matters | CC - Group ALM | ||
Disclosure Of Other Provisions [Line Items] | ||
Balance at the beginning of period | 0 | [2] |
Increase in provisions recognized in the income statement | 0 | [2] |
Release of provisions recognized in the income statement | 0 | [2] |
Provisions used in conformity with designated purpose | 0 | [2] |
Foreign currency translation / unwind of discount | 0 | [2] |
Balance at the end of period | 0 | [2] |
Litigation, regulatory and similar matters | CC - Non-core and Legacy Portfolio | ||
Disclosure Of Other Provisions [Line Items] | ||
Balance at the beginning of period | 1,166 | [2] |
Increase in provisions recognized in the income statement | 82 | [2] |
Release of provisions recognized in the income statement | 0 | [2] |
Provisions used in conformity with designated purpose | (42) | [2] |
Foreign currency translation / unwind of discount | 45 | [2] |
Balance at the end of period | SFr 1,251 | [2] |
[1] | Comprises provisions for losses resulting from legal, liability and compliance risks. | |
[2] | Provisions, if any, for the matters described in this Note are recorded in Global Wealth Management (item 3 and 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 Global 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. |
Litigation, regulatory and si87
Litigation, regulatory and similar matters (Detail 2) - CHF (SFr) SFr in Millions | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Other Provisions [Line Items] | ||||
Balance | SFr 3,012 | SFr 2,937 | SFr 3,100 | |
Litigation, regulatory and similar matters | ||||
Disclosure Of Other Provisions [Line Items] | ||||
Balance | [1],[2] | 2,442 | 2,331 | 2,444 |
Litigation, regulatory and similar matters | Global Wealth Management | ||||
Disclosure Of Other Provisions [Line Items] | ||||
Balance | [2] | 567 | 546 | 555 |
Litigation, regulatory and similar matters | Personal & Corporate Banking | ||||
Disclosure Of Other Provisions [Line Items] | ||||
Balance | [2] | 75 | 79 | 79 |
Litigation, regulatory and similar matters | Asset Management | ||||
Disclosure Of Other Provisions [Line Items] | ||||
Balance | [2] | 0 | 1 | 1 |
Litigation, regulatory and similar matters | Investment Bank | ||||
Disclosure Of Other Provisions [Line Items] | ||||
Balance | [2] | 333 | 323 | 345 |
Litigation, regulatory and similar matters | CC - Services | ||||
Disclosure Of Other Provisions [Line Items] | ||||
Balance | [2] | 216 | 216 | 240 |
Litigation, regulatory and similar matters | CC - Group ALM | ||||
Disclosure Of Other Provisions [Line Items] | ||||
Balance | [2] | 0 | 0 | 0 |
Litigation, regulatory and similar matters | CC - Non-core and Legacy Portfolio | ||||
Disclosure Of Other Provisions [Line Items] | ||||
Balance | [2] | SFr 1,251 | SFr 1,166 | SFr 1,224 |
[1] | Comprises provisions for losses resulting from legal, liability and compliance risks. | |||
[2] | Provisions, if any, for the matters described in this Note are recorded in Global Wealth Management (item 3 and 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 Global 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. |
Litigation, regulatory and si88
Litigation, regulatory and similar matters (Narrative) (Detail 1) | 3 Months Ended |
Jun. 30, 2018 | |
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. |
Litigation, regulatory and si89
Litigation, regulatory and similar matters (Narrative) (Detail 2) € in Millions, $ in Millions, $ in Millions | 1 Months Ended | 3 Months Ended | ||
Jul. 31, 2018USD ($) | Jun. 30, 2018EUR (€) | Jun. 30, 2018HKD ($) | Jun. 30, 2018USD ($) | |
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 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 | Trustee 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 | |||
Settlement made | $ 850 | |||
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 | Customer arbitration claims | ||||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | ||||
Amounts claimed | 2,600 | |||
Claimed damages that have been resolved | 1,600 | |||
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] | ||||
Minimum total claims against all defendants | 800 | |||
Amount of bonds issued and underwritten by the System | 3,000 | |||
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 other trading practices - Other benchmark class actions and ISDAFIX class action in the US | ||||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | ||||
Settlement made | $ 14 | |||
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 | $ 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 |
Guarantees, commitments and f90
Guarantees, commitments and forward starting transactions (Detail) - CHF (SFr) SFr in Millions | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | |
Guarantees | ||||
Maximum Exposure To Credit Risk [Line Items] | ||||
Gross maximum irrevocable amount | SFr 20,175 | SFr 19,009 | SFr 18,854 | |
Sub-participations | (2,976) | (2,923) | (2,867) | |
Net irrevocable amount | 17,199 | 16,086 | 15,987 | |
Loan commitments | ||||
Maximum Exposure To Credit Risk [Line Items] | ||||
Gross maximum irrevocable amount | 39,567 | 34,534 | 39,069 | |
Sub-participations | (662) | (866) | (1,074) | |
Net irrevocable amount | 38,905 | 33,667 | 37,995 | |
Derivative loan commitments | ||||
Maximum Exposure To Credit Risk [Line Items] | ||||
Gross maximum irrevocable amount | 8,100 | 3,900 | 5,300 | |
Forward starting transactions - reverse repurchase agreements | ||||
Maximum Exposure To Credit Risk [Line Items] | ||||
Gross maximum irrevocable amount | [1] | 13,521 | 16,905 | 12,683 |
Forward starting transactions - securities borrowing agreements | ||||
Maximum Exposure To Credit Risk [Line Items] | ||||
Gross maximum irrevocable amount | [1] | 38 | 35 | 23 |
Forward starting transactions - repurchase agreements | ||||
Maximum Exposure To Credit Risk [Line Items] | ||||
Gross maximum irrevocable amount | [1] | SFr 10,868 | SFr 13,763 | SFr 8,187 |
[1] | Cash to be paid in the future by either UBS or the counterparty. |
Changes in organization (Narrat
Changes in organization (Narrative) (Detail) - UBS Securities Co. Limited, Beijing | 6 Months Ended |
Jun. 30, 2018 | |
Disclosure Of Significant Investments In Associates [Line Items] | |
Proportion Of Ownership Interest In Associate | 24.99% |
Plan to increase shareholding in our associate investment | |
Disclosure Of Significant Investments In Associates [Line Items] | |
Proportion Of Ownership Interest In Subsidiary | 51.00% |
Currency translation rates (Det
Currency translation rates (Detail) | 3 Months Ended | 6 Months Ended | |||||
Jun. 30, 2018 | Mar. 31, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | ||
1 USD | |||||||
Foreign Exchange Rates [Line Items] | |||||||
Spot rate | 0.99 | 0.95 | 0.96 | 0.99 | 0.96 | 0.97 | |
Average rate | [1] | 0.99 | 0.94 | 0.97 | 0.97 | 0.99 | |
1 EUR | |||||||
Foreign Exchange Rates [Line Items] | |||||||
Spot rate | 1.16 | 1.17 | 1.1 | 1.16 | 1.1 | 1.17 | |
Average rate | [1] | 1.17 | 1.16 | 1.09 | 1.16 | 1.08 | |
1 GBP | |||||||
Foreign Exchange Rates [Line Items] | |||||||
Spot rate | 1.31 | 1.34 | 1.25 | 1.31 | 1.25 | 1.32 | |
Average rate | [1] | 1.33 | 1.32 | 1.26 | 1.32 | 1.26 | |
100 JPY | |||||||
Foreign Exchange Rates [Line Items] | |||||||
Spot rate | 0.89 | 0.9 | 0.85 | 0.89 | 0.85 | 0.86 | |
Average rate | [1] | 0.9 | 0.88 | 0.87 | 0.89 | 0.88 | |
[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 quarter represent an average of three 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 consolid
Supplemental guarantor consolidated income statement (Detail) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | ||||||
Jun. 30, 2018 | Mar. 31, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | ||||
Condensed Income Statements Captions [Line Items] | ||||||||
Net interest income | SFr 985 | SFr 1,743 | SFr 1,417 | SFr 2,729 | SFr 3,113 | |||
Other net income from fair value changes on financial instruments | 2,187 | 1,466 | 1,456 | 3,653 | 2,896 | |||
Fee and commission income | [1],[2] | 4,793 | 4,882 | 4,744 | 9,675 | 9,533 | ||
Fee and commission expense | [2] | (417) | (409) | (449) | (826) | (885) | ||
Net fee and commission income | [2] | 4,377 | 4,473 | 4,295 | 8,850 | 8,648 | ||
Other income | 34 | 40 | 147 | 74 | 190 | |||
Total operating income | 7,554 | 7,698 | 7,269 | 15,252 | [3] | 14,801 | [3] | |
Personnel expenses | 4,059 | 4,014 | 4,014 | 8,073 | [3] | 8,074 | [3] | |
General and administrative expenses | 1,516 | 1,424 | 1,488 | 2,940 | [3] | 2,994 | [3] | |
Depreciation and impairment of property, equipment and software | 284 | 272 | 249 | 556 | [3] | 505 | [3] | |
Amortization and impairment of intangible assets | 16 | 16 | 16 | 32 | [3] | 37 | [3] | |
Total operating expenses | 5,875 | 5,725 | 5,767 | 11,600 | [3] | 11,609 | [3] | |
Operating profit / (loss) before tax | 1,679 | 1,973 | 1,502 | 3,652 | [3] | 3,192 | [3] | |
Tax expense / (benefit) | 394 | 457 | 327 | 851 | [3] | 701 | [3] | |
Net profit / (loss) | 1,285 | 1,516 | 1,175 | 2,801 | [3],[4] | 2,490 | [3],[4] | |
Net profit / (loss) attributable to non-controlling interests | 1 | 1 | 1 | 3 | 47 | |||
Net profit / (loss) attributable to shareholders | SFr 1,284 | SFr 1,514 | SFr 1,174 | SFr 2,798 | SFr 2,443 | |||
[1] | Reflects third-party fee and commission income for the second quarter of 2018 of CHF 2,832 million for Global Wealth Management (first quarter of 2018: CHF 2,891 million), CHF 301 million for Personal & Corporate Banking (first quarter of 2018: CHF 300 million), CHF 801 million for Asset Management (first quarter of 2018: CHF 777 million), CHF 857 million for the Investment Bank (first quarter of 2018: CHF 900 million) and CHF 3 million for Corporate Center (first quarter of 2018: CHF 14 million). | |||||||
[2] | Upon adoption of IFRS 15, certain brokerage fees paid in an agency capacity have been reclassified from Fee and commission expense to Fee and commission income on a prospective basis from 1 January 2018, primarily relating to third-party execution costs for exchange-traded derivative transactions and fees payable to third-party research providers on behalf of clients. In addition to the IFRS 15 changes, certain revenues, primarily distribution fees and fund management fees, have been reclassified between reporting lines to better reflect the nature of the revenues with prior period information restated accordingly. This resulted in the following impacts: for the quarter ended 30 June 2017, CHF 83 million was reclassified from Underwriting fees to Brokerage fees and CHF 255 million was reclassified from Portfolio management and related services to Investment fund fees. For the first six months of 2017, CHF 164 million was reclassified from total Underwriting fees to Brokerage fees and CHF 499 million was reclassified from Portfolio management and related services to Investment fund fees. Also, certain expenses that are incremental and incidental to revenues have been reclassified prospectively from General and administrative expenses to Fee and commission expense to improve the alignment of transaction-based costs with the associated revenue stream, primarily impacting clearing costs, client loyalty costs, fund and custody expenses. As the impact of this reclassification was not material, prior period information was not restated. | |||||||
[3] | Prior period information may not be comparable as a result of the adoption of IFRS 9, Financial Instruments and IFRS 15, Revenue from Contracts with Customers, both effective 1 January 2018. Refer to Note 1 for more information on these changes. | |||||||
[4] | Upon adoption of IFRS 9 on 1 January 2018, cash flows from certain financial instruments have been reclassified from investing to operating activities. Refer to Note 19 for more information. |
Supplemental guarantor consol94
Supplemental guarantor consolidated statement of comprehensive income (Detail) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||||
Jun. 30, 2018 | Mar. 31, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |||
Condensed Statement Of Income Captions [Line Items] | |||||||
Net profit / (loss) | SFr 1,285 | SFr 1,516 | SFr 1,175 | SFr 2,801 | [1],[2] | SFr 2,490 | [1],[2] |
Foreign currency translation, net of tax | (2) | 14 | |||||
Total other comprehensive income that may be reclassified to the income statement, net of tax | (322) | (1,641) | |||||
Other Comprehensive Income Net Of Tax Gains Losses On Remeasurements Of Defined Benefit Plans | 144 | 160 | |||||
Own credit on financial liabilities designated at fair value, net of tax | 417 | (254) | |||||
Total other comprehensive income | 1,057 | (819) | (1,072) | 238 | (1,721) | ||
Total comprehensive income | 2,342 | 696 | 103 | 3,039 | 769 | ||
OCI that may be reclassified to the income statement | |||||||
Condensed Statement Of Income Captions [Line Items] | |||||||
Total other comprehensive income | 568 | (889) | (1,121) | (322) | (1,641) | ||
OCI that will not be reclassified to the income statement | |||||||
Condensed Statement Of Income Captions [Line Items] | |||||||
Total other comprehensive income | 490 | 70 | 49 | 560 | (80) | ||
Comprehensive income attributable to shareholders | |||||||
Condensed Statement Of Income Captions [Line Items] | |||||||
Net profit / (loss) | 1,284 | 1,514 | 1,174 | 2,798 | 2,443 | ||
Foreign currency translation, net of tax | 0 | 0 | |||||
Total other comprehensive income that may be reclassified to the income statement, net of tax | 568 | (889) | (1,121) | (322) | (1,641) | ||
Other Comprehensive Income Net Of Tax Gains Losses On Remeasurements Of Defined Benefit Plans | 144 | 160 | |||||
Own credit on financial liabilities designated at fair value, net of tax | 417 | (254) | |||||
Total other comprehensive income that will not be reclassified to the income statement, net of tax | 492 | 70 | 35 | 562 | (94) | ||
Total other comprehensive income | 1,060 | (820) | (1,086) | 240 | (1,735) | ||
Total comprehensive income | 2,343 | 695 | 89 | 3,038 | 708 | ||
Comprehensive income attributable to shareholders | OCI that may be reclassified to the income statement | |||||||
Condensed Statement Of Income Captions [Line Items] | |||||||
Foreign currency translation, net of tax | 747 | (384) | (971) | 363 | (1,337) | ||
Financial assets measured at fair value through other comprehensive income, net of tax | (18) | (51) | (115) | (69) | (72) | ||
Cash flow hedges, net of tax | (161) | (454) | (35) | (615) | (233) | ||
Comprehensive income attributable to shareholders | OCI 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 | 244 | (100) | 108 | 144 | 160 | ||
Own credit on financial liabilities designated at fair value, net of tax | 248 | 170 | (73) | 417 | (254) | ||
Comprehensive income attributable to non-controlling interests | |||||||
Condensed Statement Of Income Captions [Line Items] | |||||||
Net profit / (loss) | 1 | 1 | 1 | 3 | 47 | ||
Foreign currency translation, net of tax | (2) | 14 | |||||
Total other comprehensive income that will not be reclassified to the income statement, net of tax | (2) | 0 | 14 | (2) | 14 | ||
Total other comprehensive income | (2) | 0 | 14 | (2) | 14 | ||
Total comprehensive income | (1) | 1 | 14 | 1 | 61 | ||
Comprehensive income attributable to non-controlling interests | OCI that will not be reclassified to the income statement | |||||||
Condensed Statement Of Income Captions [Line Items] | |||||||
Foreign currency translation, net of tax | SFr (2) | SFr 0 | SFr 14 | SFr (2) | SFr 14 | ||
[1] | Prior period information may not be comparable as a result of the adoption of IFRS 9, Financial Instruments and IFRS 15, Revenue from Contracts with Customers, both effective 1 January 2018. Refer to Note 1 for more information on these changes. | ||||||
[2] | Upon adoption of IFRS 9 on 1 January 2018, cash flows from certain financial instruments have been reclassified from investing to operating activities. Refer to Note 19 for more information. |
Supplemental guarantor consol95
Supplemental guarantor consolidated balance sheet (Detail) - CHF (SFr) SFr in Millions | Jun. 30, 2018 | Mar. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | |||
Assets | |||||||
Cash and balances at central banks | SFr 102,262 | SFr 92,800 | SFr 87,775 | SFr 87,775 | |||
Loans and advances to banks | 15,577 | 13,338 | 13,719 | 13,739 | |||
Receivables from securities financing transactions | 76,450 | 77,016 | 84,674 | 89,633 | |||
Cash collateral receivables on derivative instruments | 24,937 | 24,271 | 23,434 | 23,434 | |||
Loans and advances to customers | 318,278 | 316,195 | 310,451 | 318,509 | |||
Other financial assets measured at amortized cost | 20,996 | 19,129 | 18,302 | 36,861 | |||
Total financial assets measured at amortized cost | 558,500 | 542,749 | 538,354 | 569,950 | |||
Financial assets at fair value held for trading | 112,121 | 105,554 | 115,275 | 126,144 | |||
of which: assets pledged as collateral that may be sold or repledged by counterparties | 36,580 | 34,536 | 35,363 | 35,363 | |||
Derivative financial instruments | 121,604 | [1],[2] | 113,333 | [1],[2] | 118,227 | 118,227 | [1],[2] |
Brokerage receivables | 18,415 | 20,250 | 23,787 | ||||
Financial assets at fair value not held for trading | 93,217 | 97,532 | 78,943 | 58,933 | |||
Total | 345,357 | 336,669 | 336,232 | 303,304 | |||
Financial assets measured at fair value through other comprehensive income | 6,941 | 6,758 | 6,755 | 8,665 | |||
Property, equipment and software | 9,083 | 8,860 | 8,829 | 8,829 | |||
Goodwill and intangible assets | 6,391 | 6,235 | 6,398 | 6,398 | |||
Deferred tax assets | 9,859 | 9,729 | 9,967 | 9,844 | |||
Other non-financial assets | 7,324 | 7,324 | 7,633 | 7,633 | |||
Total assets | 944,482 | [3] | 919,361 | 915,187 | 915,642 | [3] | |
Liabilities | |||||||
Amounts due to banks | 10,242 | 9,024 | 7,533 | 7,533 | |||
Payables from securities financing transactions | 10,130 | 9,167 | 11,963 | 17,044 | |||
Cash collateral payables on derivative instruments | 31,843 | 29,426 | 30,247 | 30,247 | |||
Customer deposits | 403,430 | 398,604 | 403,731 | 408,999 | |||
Debt issued measured at amortized cost | 137,530 | [4] | 137,883 | [4] | 139,551 | 139,551 | [4] |
Other financial liabilities measured at amortized cost | 6,909 | 5,911 | 6,686 | 36,337 | |||
Total financial liabilities measured at amortized cost | 600,084 | 590,014 | 599,712 | 639,711 | |||
Financial liabilities at fair value held for trading | 31,416 | 34,747 | 30,463 | 30,463 | |||
Derivative financial instruments | 119,223 | [1],[2] | 111,945 | [1],[2] | 116,191 | 116,133 | [1],[2] |
Brokerage payables designated at fair value | 37,904 | 34,793 | 34,915 | ||||
Debt issued designated at fair value | 56,849 | 52,059 | 49,502 | 49,502 | |||
Other financial liabilities designated at fair value | 37,342 | 34,438 | 21,300 | 16,223 | |||
Total financial liabilities measured at fair value through profit or loss | 282,734 | 267,983 | 252,370 | 212,322 | |||
Provisions | 3,123 | 3,044 | 3,207 | 3,133 | |||
Other non-financial liabilities | 7,708 | 7,016 | 9,205 | 9,205 | |||
Total liabilities | 893,649 | 868,056 | 864,494 | 864,371 | |||
Equity | |||||||
Equity attributable to shareholders | 50,774 | 51,243 | 50,637 | 51,214 | |||
Equity attributable to non-controlling interests | 60 | 62 | 57 | 57 | |||
Total equity | 50,834 | 51,305 | 50,670 | ||||
Total liabilities and equity | SFr 944,482 | SFr 919,361 | SFr 915,187 | SFr 915,642 | |||
[1] | Derivative financial liabilities as of 30 June 2018 include CHF 0.0 billion related to derivative loan commitments (31 March 2018: CHF 0.1 billion; 31 December 2017: CHF 0.0 billion). No notional amounts related to these commitments are included in this table but they are disclosed within Note 16 under Loan commitments with a committed amount of CHF 8.1 billion as of 30 June 2018 (31 March 2018: CHF 3.9 billion; 31 December 2017: CHF 5.3 billion). | ||||||
[2] | Financial assets and liabilities are presented net on the balance sheet if UBS has the unconditional and legally enforceable right to offset the recognized amounts, both in the normal course of business and in the event of default, bankruptcy or insolvency of the entity and all of the counterparties, and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously. | ||||||
[3] | Prior period information may not be comparable as a result of the adoption of IFRS 9, Financial Instruments and IFRS 15, Revenue from Contracts with Customers, both effective 1 January 2018. Refer to Note 1 for more information on these changes. | ||||||
[4] | Net of bifurcated embedded derivatives, the fair value of which was not material for the periods presented. |
Supplemental guarantor consol96
Supplemental guarantor consolidated statement of cash flows (Detail) - CHF (SFr) SFr in Millions | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | ||
Condensed Cash Flow Statements Captions [Line Items] | |||
Net cash flow from / (used in) operating activities | [1] | SFr 16,327 | SFr (22,708) |
Cash flow from / (used in) investing activities | |||
Purchase of subsidiaries, associates and intangible assets | [1] | (3) | (5) |
Disposal of subsidiaries, associates and intangible assets | [1],[2] | 58 | 95 |
Purchase of property, equipment and software | [1] | (819) | (720) |
Disposal of property, equipment and software | [1] | 30 | 23 |
Purchase of financial assets measured at fair value through other comprehensive income | [1] | (831) | (4,729) |
Disposal and redemption of financial assets measured at fair value through other comprehensive income | [1] | 668 | 6,150 |
Net (purchase) / redemption of debt securities measured at amortized cost | [1] | (2,391) | |
Net (purchase) / redemption of financial assets held to maturity | [1] | 168 | |
Net cash flow from / (used in) investing activities | [1] | (3,288) | 982 |
Cash flow from / (used in) financing activities | |||
Net short-term debt issued / (repaid) | [1] | (5,801) | 18,738 |
Net movements in treasury shares and own equity derivative activity | [1] | (833) | (751) |
Distributions paid on UBS shares | [1] | (2,444) | (2,229) |
Issuance of long-term debt, including financial liabilities designated at fair value | [1] | 38,980 | 24,829 |
Repayment of long-term debt, including financial liabilities designated at fair value | [1] | (26,066) | (23,407) |
Net changes in non-controlling interests and preferred notes | [1] | 16 | (50) |
Net cash flow from / (used in) financing activities | [1] | 3,853 | 17,130 |
Total cash flow | |||
Cash and cash equivalents at the beginning of the period | [1],[3] | 102,200 | 121,138 |
Net cash flow from / (used in) operating, investing and financing activities | [1] | 16,892 | (4,596) |
Effects of exchange rate differences on cash and cash equivalents | [1] | 135 | (1,502) |
Cash and cash equivalents at the end of the period | [1],[3] | 119,227 | 115,040 |
Net cash flow from / (used in) operating activities includes: | |||
Cash and balances with central banks classified as cash equivalents | [1] | 102,145 | 100,006 |
Due from banks classified as cash equivalents | [1] | 14,288 | 12,676 |
Money market paper classified as cash equivalents | [1],[4] | SFr 2,794 | SFr 2,358 |
[1] | Upon adoption of IFRS 9 on 1 January 2018, cash flows from certain financial instruments have been reclassified from investing to operating activities. Refer to Note 19 for more information. | ||
[2] | Includes dividends received from associates. | ||
[3] | CHF 4,042 million and CHF 2,576 million of cash and cash equivalents (mainly reflected in Loans and advances to banks) were restricted as of 30 June 2018 and 30 June 2017, respectively. Refer to “Note 23 Restricted and transferred financial assets” in the “Consolidated financial statements” section in the Annual Report 2017 for more information. | ||
[4] | Money market paper is included in the balance sheet under Financial assets at fair value held for trading, Financial assets measured at fair value through other comprehensive income, Financial assets at fair value not held for trading, and Other financial assets measured at amortized cost. |
Retrospective amendments to UBS
Retrospective amendments to UBS Group balance sheet presentation (Detail) - CHF (SFr) SFr in Millions | Jun. 30, 2018 | Mar. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | |||
Assets [Abstract] | |||||||
Cash and balances at central banks | SFr 102,262 | SFr 92,800 | SFr 87,775 | SFr 87,775 | |||
Loans and advances to banks (formerly: Due from banks) | 15,577 | 13,338 | 13,719 | 13,739 | |||
Cash collateral receivables on derivative instruments | 24,937 | 24,271 | 23,434 | 23,434 | |||
Loans and advances to customers (formerly: Loans) | 318,278 | 316,195 | 310,451 | 318,509 | |||
of which: assets pledged as collateral that may be sold or repledged by counterparties | 36,580 | 34,536 | 35,363 | 35,363 | |||
Derivative financial instruments (formerly: Positive replacement values) | 121,604 | [1],[2] | 113,333 | [1],[2] | 118,227 | 118,227 | [1],[2] |
Investments in associates | 1,026 | 1,037 | 1,018 | 1,018 | |||
Property, equipment and software | 9,083 | 8,860 | 8,829 | 8,829 | |||
Goodwill and intangible assets | 6,391 | 6,235 | 6,398 | 6,398 | |||
Deferred tax assets | 9,859 | 9,729 | 9,967 | 9,844 | |||
Total assets | 944,482 | [3] | 919,361 | 915,187 | 915,642 | [3] | |
Liabilities [Abstract] | |||||||
Amounts due to banks | 10,242 | 9,024 | 7,533 | 7,533 | |||
Cash collateral payables on derivative instruments | 31,843 | 29,426 | 30,247 | 30,247 | |||
Customer deposits (formerly: Due to customers) | 403,430 | 398,604 | 403,731 | 408,999 | |||
Debt issued measured at amortized cost | 137,530 | [4] | 137,883 | [4] | 139,551 | 139,551 | [4] |
Financial liabilities at fair value held for trading (formerly Trading portfolio liabilities) | 31,416 | 34,747 | 30,463 | 30,463 | |||
Derivative financial instruments (formerly: Negative replacement values) | 119,223 | [1],[2] | 111,945 | [1],[2] | 116,191 | 116,133 | [1],[2] |
Provisions | 3,123 | 3,044 | 3,207 | 3,133 | |||
Total liabilities | 893,649 | 868,056 | 864,494 | 864,371 | |||
Total liabilities and equity | SFr 944,482 | SFr 919,361 | SFr 915,187 | 915,642 | |||
Former presentation prior to adoption of IFRS 9 | |||||||
Assets [Abstract] | |||||||
Cash and balances at central banks | 87,775 | ||||||
Loans and advances to banks (formerly: Due from banks) | 13,739 | ||||||
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 | ||||||
Loans and advances to customers (formerly: Loans) | 319,568 | ||||||
Financial assets held to maturity (superseded) | 9,166 | ||||||
Financial assets at fair value held for trading (formerly Trading portfolio assets) | 130,707 | ||||||
of which: assets pledged as collateral that may be sold or repledged by counterparties | 35,363 | ||||||
Derivative financial instruments (formerly: Positive replacement values) | 118,227 | ||||||
Financial assets designated at fair value | 58,933 | ||||||
Financial assets available for sale (superseded) | 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 assets (superseded) | 29,706 | ||||||
Total assets | 915,642 | ||||||
Liabilities [Abstract] | |||||||
Amounts due to banks | 7,533 | ||||||
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 | ||||||
Customer deposits (formerly: Due to customers) | 408,999 | ||||||
Debt issued measured at amortized cost | 139,551 | ||||||
Financial liabilities at fair value held for trading (formerly Trading portfolio liabilities) | 30,463 | ||||||
Derivative financial instruments (formerly: Negative replacement values) | 116,133 | ||||||
Financial liabilities designated at fair value (superseded) | 54,202 | ||||||
Provisions | 3,133 | ||||||
Other liabilities (superseded) | 57,064 | ||||||
Total liabilities | 864,371 | ||||||
Total liabilities and equity | SFr 915,642 | ||||||
[1] | Derivative financial liabilities as of 30 June 2018 include CHF 0.0 billion related to derivative loan commitments (31 March 2018: CHF 0.1 billion; 31 December 2017: CHF 0.0 billion). No notional amounts related to these commitments are included in this table but they are disclosed within Note 16 under Loan commitments with a committed amount of CHF 8.1 billion as of 30 June 2018 (31 March 2018: CHF 3.9 billion; 31 December 2017: CHF 5.3 billion). | ||||||
[2] | Financial assets and liabilities are presented net on the balance sheet if UBS has the unconditional and legally enforceable right to offset the recognized amounts, both in the normal course of business and in the event of default, bankruptcy or insolvency of the entity and all of the counterparties, and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously. | ||||||
[3] | Prior period information may not be comparable as a result of the adoption of IFRS 9, Financial Instruments and IFRS 15, Revenue from Contracts with Customers, both effective 1 January 2018. Refer to Note 1 for more information on these changes. | ||||||
[4] | Net of bifurcated embedded derivatives, the fair value of which was not material for the periods presented. |
Transition to expected credit l
Transition to expected credit loss requirements (Narrative) (Detail) | 3 Months Ended |
Jun. 30, 2018 | |
Explanation Of First time Adoption Of IFRS9 [Line Items] | |
Explanation Of Initial Application Of Impairment Requirements For Financial Instruments Explanatory | Note 19 Transition to IFRS 9 as of 1 January 2018 19.1 Update to significant accounting policies disclosed in Note 1a) to the Financial Statements 2017 related to IFRS 9 Update to Note 1a) 3 ) Financial i nstruments g. E xpected credit losses Expected credit losses (ECL) are recognized for financial assets measured at amortized cost, financial assets measured at FVOCI, fee and lease receivables, financial guarantees and loan commitments. ECL are also recognized on the undrawn portion of revolving revocable credit lines, which include UBS’s credit card limit s and master credit facilities, which are customary in the Swiss market for corporate and commercial clients. UBS refers to both as “other credit lines,” with clients allowed to draw down on-demand balances (with the Swiss master credit facilities also all owing for term products) and which can be terminated by UBS at any time. Though these other credit lines are revocable, UBS is exposed to credit risk because the client has the ability to draw down funds before UBS can take credit risk mitigation actions. Recognition of expected credit losses ECL represent the difference between contractual cash flows and those UBS expects to receive , discounted at the EIR. For loan commitments and other credit facilities in scope of ECL, expected cash shortfalls are det ermined by considering expected future draw downs. ECL are recognized on the following basis: M aximum 12-month ECL are recognized from initial recognition, reflecting the portion of lifetime cash shortfalls that would result if a default occurs in the 12 months after the reporting da te, weighted by the risk of a default occurring. I nstruments in this category are referred to as instruments in stage 1. For instruments with a remaining maturity of less than 12 months, ECL are determined for this shorter peri od. Lifetime ECL are recognized if a significant increase in credit risk (SICR) is detected subsequent to the instrument’s initial recognition, reflecting lifetime cash shortfalls that would result from all possible default events over the expected life of a financial instrument, weighted by the risk of a default occurring. Instruments in this category are referred to as instruments in stage 2. Where an SICR is no longer observed, the instrument will move back to stage 1. Lifetime ECL are always recognized for credit-impaired financial instruments, referred to as instruments in stage 3. The IFRS 9 determination of whether an instrument is credit-impaired is based on the occurrence of one or more loss events, with lifetime ECL generally derived by estimating expected cash flows based on a chosen recovery strategy with additional consideration given to forward-looking economic scenarios. 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. Changes in lifetime ECL since initial recognition are also recognized for assets that are purchased or originated credit-impaired financial assets (PO CI ) . POCI a re initially recognized at fair value with interest income subsequently being recognized based on a credit-adjusted EIR . POCI include financial instruments that are newly recognized following a substantial restructuring and remain a separate category until maturity. UBS does not apply the low-credit-risk practical expedient that allows a lifetime ECL for lease or fee receivables to be recognized irrespective of whether a significant increa se in credit risk has occurred. Instead, UBS has incorporated lease and fee receivables into the standard ECL calculation. A write-off is made when all or part of a financial asset i s 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 generally credited to C redit loss expense / recovery . Write-offs and partial write- off s represent derecognition / partial derecognition events. ECL are recognized in profit or loss with a corresponding ECL allowance reported as a decrease in the carrying value of financial asse ts measured at amortized cost on the balance sheet. For financial assets measured at fair value through OCI, the carrying value is not reduced, but an accumulated amount is recognized in OCI. For off-balance sheet financial instruments and other credit lin es, provisions for ECL are reported in Provisions . ECL are recognized within the income statement in Credit loss expense / recovery. Default and credit impairment The definition of default is based on quantitative and qualitative criteria. A counterparty is classified as defaulted at the latest when material payments of interest, principal or fees are overdue for more than 90 days, or more than 180 days for the Personal & Corporate Banking and Swiss wealth management portfolios. Counterparties are also cla ssified as defaulted when bankruptcy, insolvency proceedings or enforced liquidation have commenced, obligations have been restructured on preferential terms or there is other evidence that payment obligations will not be fully met without recourse to coll ateral. The latter may be the case even if, to date, all contractual payments have been made when due. If a counterparty is defaulted, generally all claims against the counterparty are treated as defaulted. An instrument is classified as credit-impaired if the counterparty is defaulted, and / or the instrument is POCI . An instrument is POCI if it has been purchased with a material discount to its carrying amount following a risk event of the issuer or originated with a defaulted counterparty. Once a financi al asset is classified as defaulted / credit-impaired (except POCIs), it remains as such unless all past due amounts have been rectified, additional payments have been made on time, the position is not classified as credit-restructured, and there is genera l evidence of credit recovery. A minimum period of three months is applied whereby most instruments remain in stage 3 for a longer period. Measurement of expected credit losses IFRS 9 ECL reflect an unbiased, probability-weighted estimate based on either loss expectations resulting from default events over a maximum 12-month period from the reporting date or over the remaining life of a financial instrument. The method used to calculate individual probability-weighted unbiased ECL is based on a combination of the following principal factors: probability of default (PD), loss given default (LGD) and exposure at default (EAD). PDs and LGDs used in the ECL calculation are point in time (PIT)-based for key portfolios and consider both current conditions and exp ected cyclical changes. For each instrument or group of instruments, parameter time series are generated consisting of the instruments’ PD, LGD and EAD profiles considering the respective period of exposure to credit risk. For the purpose of determining th e ECL - relevant parameters , UBS leverages its Pillar 1 internal ratings-based (IRB) models that are also used in determining expected loss (EL) and risk-weighted assets under the Basel III framework and Pillar 2 stress loss models. A djustments have been mad e to th ese models and new IFRS 9 - related models have been developed, which consider the complexity, structure and risk profile of relevant portfolios and take account of the fact that PDs and LGDs used in the EC L calculation are PIT-based as opposed to the corresponding Basel III through the cycle (TTC) parameters. The assignment of internal counterparty rating grades and the determination of default probabilities for the purposes of Basel III are not affected by the IFRS 9 ECL calculation. Probability of d efault (PD): The PD represents the likelihood of a default over a specified time period. A 12-month PD represents the likelihood of default determined for the next 12 months and a lifetime PD represents the probability of default over the remaining lifetim e of the instrument. The lifetime PD calculation is based on a series of 12-month P I T PDs that are derived from TTC PDs and scenario forecasts. This modeling is region - , industry - and client segment - specific and consider s both scenario - systematic and clien t - idiosyncratic information. To derive the cumulative lifetime PD per scenario, the series of 12-month P I T PDs are transformed into marginal P I T PDs taking any assumed default events from previous periods into account. Exposure at default (EAD): The EAD represents an estimate of the exposure to credit risk at the time of a potential default occurring during the life of a financial instrument. It represents the cash flows outstanding at the time of default, considering expected repayments, interes t payments and accruals, discounted at the EIR. Future drawdowns on facilities are considered through a credit conversion factor (CCF) that is reflective of historical drawdown and default patterns and the characteristics of the respective portfolios. IFRS 9-specific CCFs have been modeled to capture client segment- and product-specific patterns after removing Basel standard-specific limitations, i.e., conservativism and focus on a 12-month period prior to default. Loss given default (LGD): The LGD represen ts an estimate of the loss at the time of a potential default occurring during the life of a financial instrument. The determination of the LGD takes into account expected future cash flows from collateral and other credit enhancements, or expected payouts from bankruptcy proceedings for unsecured claims and, where applicable, time to realization of collateral and the seniority of claims. The LGD is commonly expressed as a percentage of the EAD. PD and LGD are determined for four different scenarios wherea s EAD projections are treated as scenario independent. Parameters are generally determined on an individual financial asset lev el. For credit card exposures in Switzerland, personal account overdrafts and certain loans to financial advisors, a portfolio ap proach is applied that derives an average PD and LGD for the entire portfolio. Scenarios and scenario weights The determination of the pr obability-weighted ECL requires evaluating a range of diverse and relevant future economic conditions. To accommodate this requirement, UBS uses four different economic scenarios in the ECL calculation: an upside, a baseline, a mild downside and a severe downside scenario. Each scenario is represented by a specific scenario narrative, which is relevant considering the ex posure of key portfolios to economic risks, and for which a set of consistent macroeconomic variables is determined . Those variables range from above-trend economic growth to severe recession. A weight is computed for each scenario by using a probabilistic econometric model that considers recent information as well as sever al decades of historical data. The determined weights con stitute the probabilities that the respective se t of macroeconomic conditions will occur. The scenarios, including the narratives, the macroeconomic and financial variables and the scenario weights , are further discussed, challenged and potentially refined by a team of UBS-internal experts. The baseline scenario is aligned to the economic and market assumptions used for UBS business planning purposes. Macroeconomic and other factors The range of macroeconomic, market and other factors that is modeled as part of the scenario determination is wide , and historical information is used to support the identification of the key factors. As t he forecast horizon increases, the availability of information decreases and judgment increases. For cycle-sensitive PD and LGD determination purposes, UBS projects the relevant economic factors for a period of three years before reverting, over a specifie d period, to a cycle-neutral PD and LGD for longer-term projections. Factors relevant for the ECL calculation vary by type of exposure and are determined during the credit cycle index model development process in close alignment with practitioner judgment . Certain variables may only be relevant for specific types of exposures, such as house price indices for mortgage loans, while other variables have key relevance in the ECL calculation for all exposures. Regional and client segment characteristics are gen erally taken into account, with specific focus on Switzerland and the US considering UBS’s key ECL-relevant portfolios. For UBS, the following forward-looking macroeconomic variables represent the most relevant factors in the ECL calculation: GDP growth r ates House price indices Unemployment rates Interest rates, specifically LIBOR and government bond yields Equity indices Consumer price indices The forward-looking macroeconomic assumptions used in the ECL calculation are developed by UBS economists, risk methodology personnel and credit risk officers . Assumptions and scenar ios are validated and approved through a scenario committee and an operating committee, which also aim to ensure a consistent use of forward-looking information throughout UBS, including in the business planning process. ECL inputs are tested and reassesse d for appropriateness at least each quarter and appropriate adjustments are made when needed. ECL measurement period The period for which lifetime ECL are determined is based on the maximum contractual period that UBS is exposed to credit risk, taking int o account contractual extension, termination and prepayment options. For irrevocable loan commitments and financial guarantee contracts, the measurement period represents the maximum contractual period for which UBS has an obligation to extend credit. Addi tionally, some financial instruments include both an on-demand loan and a revocable undrawn commitment where the contractual cancelation right does not limit UBS’s exposure to credit risk to the contractual notice period as the client has the ability to dr aw down funds before UBS can take risk mitigating actions. In such cases, UBS is required to estimate the period over which it is exposed to credit risk. This applies to UBS’s credit card limits, which do not have a defined contractual maturity date, are c allable on demand and where the drawn and undrawn components are managed as one unit. The exposure arising from UBS’s credit card limits is not significant and is managed at a portfolio level, with credit actions triggered when balances are past due. An EC L measurement period of seven years is applied for credit card limits, capped at 12 months for stage 1 balances, as a proxy for the period that UBS is exposed to credit risk. Customary master credit agreements in the Swiss corporate market also include on- demand loans and revocable undrawn commitments. For smaller commercial facilities, a risk-based monitoring (RbM) approach is in place that highlights negative trends as risk events, at an individual facility level, based on a combination of continuously up dated risk indicators. The risk events trigger additional credit reviews by a Risk Officer, allowing for informed credit decisions to be taken. Larger corporate facilities are not subject to RbM, but are reviewed at least annually through a formal credit r eview. UBS has assessed these credit risk management practices and considers both the RbM approach and formal credit review as a substantive credit review providing for a re-origination of the facility. Following this, a 12 - month measurement period is used for both types of facilities as an appropriate proxy of the period over which UBS is exposed to credit risk, with 12 months also used as a look back period for assessing SICR. Significant increase in credit risk Financial instruments subject to ECL are monitored on an ongoing basis. To determine whether the recognition of a 12-month ECL continues to be appropriate, it is assessed whether an SICR has occurred since initial recognition of the financial instrument. The assessment criteria include both quant itative and qualitative factors. Primarily, UBS assesses changes in an instrument’s risk of default on a quantitative basis by comparing the annualized forward-looking and scenario-weighted lifetime PD of an instrument determined at two different dates: at the rep orting date and at inception of the instrument. In both cases, the respective PDs are determined for the residual lifetime of the instrument, i.e., the period between the reporting date and maturity. If, based on UBS’s quantitative modeling, an increase exceeds a set threshold, an SICR is deemed to have occurred and the instrument is transferred to stage 2 with lifetime ECL being recognized. The threshold applied varies depending on the original credit quality of the borrower. For instruments wi th lower default probabilities at inception due to good credit quality of the counterparty, the SICR threshold is set at a higher level than for instruments with higher default probabilities at inception. This implies that for instruments with initially lo wer default probabilities a relatively higher deterioration in credit quality is needed to trigger an SICR than for those instruments with originally higher PDs. The SICR assessment based on PD changes is made at an individual financial asset level. A high -level overview of the SICR trigger, expressed in rating downgrades, together with the corresponding ratings at origination of an instrument is provided in the “SICR thresholds” table below. This simplified view is aligned to internal ratings as disclosed in the internal ratings table presented in “Credit risk” in the “Risk management and control” section of the Annual Report 2017. The actual SICR thresholds applied are defined on a more granular level interpolating between the values shown in the table. S ICR thresholds Internal rating at origination of the instrument Rating downgrades / SICR trigger 0–3 3 4–8 2 9–13 1 Irrespective of the SICR assessment based on default probabilities, credit risk is generally deemed to have significantly increased for an instrument if the borrower becomes more than 30 days past due on his cont ractual payments. This presumption is rebutted only where reasonable and supportable information is available that demonstrates that UBS is not exposed to an SICR even if contractual payments become more than 30 days past due. For certain less material por tfolios, specifically the Swiss credit card portfolio and the recruitment and retention loans to financial advisors within Global Wealth Management, the 30 days past due criterion is used as the primary indicator of an SICR. Where instruments are transferr ed to stage 2 due to the 30 days past due criterion, a minimum period of six months is applied before a transfer back to stage 1 can be triggered. For instruments in Personal & Corporate Banking that are between 90 and 180 days past due, a one - y ear period is applied before a transfer back to stage 1 can be triggered. Additionally, based on individual counterparty-specific indicators, external market indicators of credit risk or general economic conditions, counterparties may be moved to a watch list, which is used as a secondary qualitative indicator for an SICR and hence for a transfer to stage 2. Exception management is further applied, allowing for individual and collective adjustments on exposures sharing the same credit risk characteristics to take acco unt of specific situations that are not otherwise fully reflected. Instruments for which an SICR since initial recognition is determined based on criteria other than changed default probabilities remain in stage 2 for at least six months post resolution of the stage 2 trigger event. The overall SICR determination process does not apply to Lombard loans, securities financing transactions and certain other asset-based lending transactions due to the risk management practices adopted, including daily monitorin g processes with strict remargining requirements. If margin calls are not satisfied, a position is closed out and classified as a stage 3 position. ECL on these positions are not material. Critical accounting estimates and judgments The calculati on of ECL requires management to apply significant judgment and make estimates and assumptions that involve significant uncertainty at the time they are made. Changes to these estimates and assumptions can result in significant changes to the timing and am ount of ECL to be recognized. Determination of a significant increase of credit risk IFRS 9 does not include a definition of what constitutes an SICR. UBS assesses whether an SICR has occurred since initial recognition based on qualitative and quantitative reasonable and supportable forward-looking information that includes significant management judgment. More stringent criteria could significantly increase the number of instruments migrating to stage 2. An IFRS 9 Operating Committee has been e stablished to review and challenge the SICR approach and any potential changes and determinations made in the quarter. Scenarios, scenario weights and macroeconomic factors ECL reflect an unbiased and probability-weighted amount, which UBS determines by e valuating a range of possible outcomes. Management selects forward-looking scenarios and judges the suitability of respective weights to be applied. Each of the scenarios is based on management’s assumptions around future economic conditions in the form of macroeconomic, market and other factors. Changes in the scenarios and weights , the corresponding set of macroeconomic variables and the assumptions made around those variables for the forecast horizon would have a significant effect on the ECL. An IFRS 9 Scenario Committee, in addition to the Operating Committee, has been established to derive, review and challenge the selection and weights. ECL measurement period Lifetime ECL are generally determined based upon the contractual maturity of the transaction , which significantly affects ECL. The ECL calculation is therefore sensitive to any extension of contractual maturities triggered by business decisions, consumer behaviors and an increased number of stage 2 positions. I n addition , fo r credit card limits a nd Swiss callable master credit facilities , j udgment is required as UBS must determine the period over which it is exposed to credit risk. A seven-year period has been applied for credit card limits, capped at 12 months for stage 1 positions, and a 12-mont h period has been applied for master credit facilities. Modeling and management adjustments A number of complex models have been developed or modified to calculate ECL, with additional management adjustments required. Internal counterparty r ating changes, new or revised models and data may significantly affect ECL . The models are governed by UBS’s model validation controls, which aim to ensure independent verification, and are approved by the Group Model Governance Board (GMGB). The management adjustments are approved by the IFRS 9 Operating Committee and endorsed by the GMGB. Transition to e xpected credit loss requirements As set out in the Group’s amended accounting policies in section 19.1 , IFRS 9 introduces a forward-looking ECL approach, which is in tended to result in an earlier recognition of credit losses compared with the incurred-loss impairment approach for financial instruments under IAS 39 and the loss-provisioning approach for financial guarantees and loan commitments under IAS 37, Provisions , Contingent Liabilities and Contingent Assets . The majority of ECL calculated as of th e transition date relates to the private and commercial mortgage por tfolio and corporate lending in Switzerland within Perso nal & Corporate Banking . Models at transition For the purpose of implementing ECL under IFRS 9, UBS has leveraged existing Pillar 1 internal ratings-based (IRB) models that are also used in determining expected loss (EL) and risk-weighted assets under the Basel III framework and Pillar 2 stress loss m odels. Existing models have been adapted and 29 new models have been developed for the ECL calculation that consider the complexity, structure and risk profile of relevant portfolios and take account of the fact that PDs and LGDs used in the ECL calculati on are PIT-based as opposed to the correspondi ng Basel III TTC parameters. Management adjustments have also been made. UBS has leveraged its existing model risk framework , including the key model validation control executed by Model Risk M anagement & Contr ol. New and revised models have been approved by UBS ’ s GMGB . The assignment of internal counterparty rating grades and the determination of default probabilities for the purposes of Basel III remain unchanged. Refer to “Credit risk models” in the “Risk, tr easury and capital management” section of our Annual Report 2017 for more information Refer to “Significant accounting and financial reporting changes in 2018” in the “Operating environment and strategy” section of our Annual Report 2017 for more informati on Scenarios and scenario weights at transition As outlined in section 19.1, UBS uses four different economic scenarios in the ECL calculation: an upside, a baseline, a mild downside and a severe downside scenario. ECL calculated on transition have been de termined for each of the scenarios and subsequently weighted based on the probabilities in the table “Economic scenarios and weights applied.” Economic scenarios and weights applied ECL scenario Assigned weights in % (1.1.18 ) Upside 20.0 Baseline 42.5 Mild downside 30.0 Severe downside 7.5 UBS has established IFRS 9 ECL Scenario and Operating Committees to propose and approve the selection of the scenarios and weights to be applied and to monitor whether appropriate governance exists. Macroeconomic and other factors: For each of the economic scenarios , UBS forecast s a wide range of forward-looking macroeconomic, market and other factors. Historical information was used to support the identification of the key factors and to project thei r development under the different scenarios. As the forecast horizon increases, the availability of information decreases and judgment increases. For cycle-sensitive PD and LGD determination purposes, UBS projected those factors for a period of three years before reverting, over a specified period, to a cycle-neutral PD and LGD for longer-term projections. Factors relevant for the ECL calculation vary by type of exposure and are determined during the credit cycle index model development process in close a l ignment with practitioner judg ment. Regional and client segment characteristics are generally taken into account, with specific focus on Switzerland and the US considering UBS’s key ECL - relevant portfolios. The following represent the most significant macr oeconomic factors for UBS and could substantially change the estimated ECL: GDP growth rates, given their significant effect on borrowers ’ performance House price indices, given their significant effect on mortgage collateral valuations Unemployment rates , given their significant effect on private clients’ ability to meet contractual obligations Interest rates, given the ir significant effect on the counterparties’ abilities to service their debt Equity indices, given their relevance for equity collateral valuation Consumer price indices, given their overall relevance for companies’ performance, private clients’ purchasing power and economic stability. Macroeconomic and other factors at transition Assumptions around the most important forward-looking econom ic factors for Switzerland, the US and other regions as applied in each of the economic scenarios to determine ECL at the date of transition can be summarized as follows: In the upside scenario, which assumes GDP growth rising above trend in most countries with only a moderate rise in inflation and ongoing accommodative monetary policies, GDP growth in Switzerland peaks at around 5% annually. Strong growth leads to a decline in unemployment to very low levels (below 1%) by 2020. Asset prices grow at robust pace, with equity prices increasing by approximately 10% annually and house prices (single-family homes ) rising by approximately 4% annually. Policy and short-term interest rates remain low over the entire scenario, while government bond yields experience a sustained increase. In the US and the rest of the world, the scenario shows broadly similar features, with growth accelerating in Year 1 before steadily returning toward trend by Year 3. Specifically in the US, GDP growth accelerates at a slightly faster pace than in Switzerland, although the US experiences a slightly less substantial imp rovement in the unemployment rate by Year 3. The degree of policy tightening is marginally greater over the scenario horizon and, as in Switzerland, long-term government bond yields rise more significantly than short-term rates, and to a greater degree. Fo r the baseline scenario, which is modeled along our business plan assumptions of a continuation of overall important global growth, Swiss GDP growth remains between 1% and 2% annually over the three years of the scenario. Moderate growth results in a very mild increase of unemployment, which stabilizes at around 3.5%. Asset price growth is also moderate, with the Swiss equity price index rising by approximately 8% annually, while house prices grow by less than 1% annually. Policy rates, short-term interest rates and government bond yields increase very gradually over the three years of the scenario by approximately 50 basis points. GDP growth in the US remains relatively stable, and faster than in Switzerland. Monetary policy tightens at a similar pace to Sw itzerland and, combined with a modest decline in the unemployment rate, helps to keep inflation in check. US equity prices slightly underperform their Swiss counterparts, while house prices outperform relatively stagnant Swiss house price growth. In the re st of the world, growth remains buoyant, with moderating growth in both Europe and China contrasting with accelerating growth in other emerging markets. The mild downside scenario is based on a monetary policy tightening assumption, implemented to deflate a potential asset price bubble, causing Swiss GDP to decline by almost 1% in the first year of the scenario. The unemployment rate rises to roughly 5%. Equity prices fall by more than 20% over three years, while house prices decline by 15% over the same pe riod. The fall of the nominal asking rent index is cushioned by higher interest rates, which register a more moderate decline than house prices. Short-term interest rates rise significantly due to monetary tightening, as well as government bond yields. In this scenario, inflation in the US accelerates rapidly, leading to a sharp rise in short-term interest rates, similar to Switzerland. GDP growth averages a similar pace to Switzerland over three years, while equity and house prices also fall by a broadly similar degree to their Swiss equivalents. In the rest of the world, growth is also weighed down, particularly in more vulnerable emerging markets such as Russia, Turkey and Brazil, as interest rates and credit spreads rise sharply. The severe downside sce nario is modeled to mimic a severe recession caused by an event affecting Switzerland’s competitiveness in key export markets, with Swiss GDP shrinking almost 7% in the first year of the scenario. The severe recession results in a substantial increase in u nemployment, which peaks at around 9%. Asset prices plummet, with the Swiss equity index falling more than 55% over three years, and house prices declining 27% over the same period. Policy and short-term interest rates remain low over the entire scenario h orizon. US GDP and unemployment deteriorate by a lesser degree than in Switzerland, and while house and equity prices decline sharply, the effects are also less severe than in Switzerland. With more scope to cut rates than the Swiss National Bank , short-te rm rates fall in the US. In the rest of the world, growth also slows sharply, particularly in the eurozone and neighboring emerging markets such as Turkey and Russia. ECL m easurement p eriod at transition As set out in section 19.1, for the majority of ECL - relevant instruments, the contractual maturity is used to calculate the measurement period, with this capped at 12 month s when stage 1 ECL are required. In addi tion, for credit card limits and Swiss callable master credit facilities , judgment is required as UBS must determine the period over whic h i |
Reclassification and remeasurem
Reclassification and remeasurement of carrying amounts and recognition of ECL upon adoption of IFRS 9 (Detail) - CHF (SFr) SFr in Millions | Jan. 01, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | [1] | Jun. 30, 2017 | [1] |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | ||||||||
Recognition of ECL (IFRS 9) | SFr (28) | SFr (25) | SFr (46) | SFr (53) | SFr (46) | |||
Total assets | ||||||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | ||||||||
Remeasurement due to reclassification incl. reversal of IAS 39/ IAS 37 allowances/provisions, Assets | SFr (245) | |||||||
Recognition of ECL (IFRS 9) | (211) | |||||||
Total financial assets measured at amortized cost | ||||||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | ||||||||
Reclassification (of IAS 39 carrying amounts), Assets | (31,321) | |||||||
Remeasurement due to reclassification incl. reversal of IAS 39/ IAS 37 allowances/provisions, Assets | 0 | |||||||
Recognition of ECL (IFRS 9) | (275) | |||||||
Cash and balances at central banks | ||||||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | ||||||||
Recognition of ECL (IFRS 9) | 0 | |||||||
Loans and advances to banks | ||||||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | ||||||||
Reclassification (of IAS 39 carrying amounts), Assets | (17) | |||||||
Recognition of ECL (IFRS 9) | (3) | |||||||
Receivables from securities financing transactions | ||||||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | ||||||||
Reclassification (of IAS 39 carrying amounts), Assets | (4,957) | |||||||
Recognition of ECL (IFRS 9) | (2) | |||||||
Cash collateral receivables on derivative instruments | ||||||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | ||||||||
Recognition of ECL (IFRS 9) | 0 | |||||||
Loans and advances to customers | ||||||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | ||||||||
Reclassification (of IAS 39 carrying amounts), Assets | (7,822) | |||||||
Remeasurement due to reclassification incl. reversal of IAS 39/ IAS 37 allowances/provisions, Assets | 0 | |||||||
Recognition of ECL (IFRS 9) | (235) | |||||||
Other financial assets measured at amortized cost | ||||||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | ||||||||
Reclassification (of IAS 39 carrying amounts), Assets | (18,525) | |||||||
Remeasurement due to reclassification incl. reversal of IAS 39/ IAS 37 allowances/provisions, Assets | 0 | |||||||
Recognition of ECL (IFRS 9) | (35) | |||||||
Financial Assets At Fair Value Through Profit Or Loss Category [Member] | ||||||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | ||||||||
Reclassification (of IAS 39 carrying amounts), Assets | 33,231 | |||||||
Remeasurement due to reclassification incl. reversal of IAS 39/ IAS 37 allowances/provisions, Assets | (303) | |||||||
Financial assets at fair value held for trading | ||||||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | ||||||||
Reclassification (of IAS 39 carrying amounts), Assets | (10,854) | |||||||
Remeasurement due to reclassification incl. reversal of IAS 39/ IAS 37 allowances/provisions, Assets | (15) | |||||||
Brokerage receivables mandatorily measured at fair value | ||||||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | ||||||||
Reclassification (of IAS 39 carrying amounts), Assets | 23,787 | |||||||
Financial assets at fair value not held for trading | ||||||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | ||||||||
Reclassification (of IAS 39 carrying amounts), Assets | 20,297 | |||||||
Remeasurement due to reclassification incl. reversal of IAS 39/ IAS 37 allowances/provisions, Assets | (287) | |||||||
Financial assets measured at fair value through other comprehensive income | ||||||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | ||||||||
Reclassification (of IAS 39 carrying amounts), Assets | (1,911) | |||||||
Deferred tax assets | ||||||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | ||||||||
Remeasurement due to reclassification incl. reversal of IAS 39/ IAS 37 allowances/provisions, Assets | 58 | |||||||
Recognition of ECL (IFRS 9) | 64 | |||||||
Liabilities | ||||||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | ||||||||
Recognition of ECL (IFRS 9) | 74 | |||||||
Remeasurement due to reclassification incl. reversal of IAS 39/ IAS 37 allowances/provisions, Liabilities | 49 | |||||||
Total financial liabilities measured at amortized cost | ||||||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | ||||||||
Reclassification (of IAS 39 carrying amounts), Liabilities | (39,996) | |||||||
Remeasurement due to reclassification incl. reversal of IAS 39/ IAS 37 allowances/provisions, Liabilities | (4) | |||||||
Payables from securities financing transactions | ||||||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | ||||||||
Reclassification (of IAS 39 carrying amounts), Liabilities | (5,081) | |||||||
Customer deposits | ||||||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | ||||||||
Reclassification (of IAS 39 carrying amounts), Liabilities | (5,268) | |||||||
Other financial liabilities measured at amortized cost | ||||||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | ||||||||
Reclassification (of IAS 39 carrying amounts), Liabilities | (29,646) | |||||||
Remeasurement due to reclassification incl. reversal of IAS 39/ IAS 37 allowances/provisions, Liabilities | (4) | |||||||
Total financial liabilities measured at fair value through profit or loss | ||||||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | ||||||||
Reclassification (of IAS 39 carrying amounts), Liabilities | 39,996 | |||||||
Remeasurement due to reclassification incl. reversal of IAS 39/ IAS 37 allowances/provisions, Liabilities | 53 | |||||||
Derivative financial liabilities | ||||||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | ||||||||
Remeasurement due to reclassification incl. reversal of IAS 39/ IAS 37 allowances/provisions, Liabilities | 57 | |||||||
Brokerage payable designated at fair value | ||||||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | ||||||||
Reclassification (of IAS 39 carrying amounts), Liabilities | 34,915 | |||||||
Other financial liabilities designated at fair value | ||||||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | ||||||||
Reclassification (of IAS 39 carrying amounts), Liabilities | 5,081 | |||||||
Remeasurement due to reclassification incl. reversal of IAS 39/ IAS 37 allowances/provisions, Liabilities | (5) | |||||||
Provisions | ||||||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | ||||||||
Recognition of ECL (IFRS 9) | 74 | |||||||
Total equity | ||||||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | ||||||||
Recognition of ECL (IFRS 9) | (284) | |||||||
Reclassification (of IAS 39 carrying amounts), Equity | 0 | |||||||
Remeasurement due to reclassification incl. reversal of IAS 39/ IAS 37 allowances/provisions, Equity | (293) | |||||||
Total equity attributable to shareholders | ||||||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | ||||||||
Recognition of ECL (IFRS 9) | (284) | |||||||
Reclassification (of IAS 39 carrying amounts), Equity | 0 | |||||||
Remeasurement due to reclassification incl. reversal of IAS 39/ IAS 37 allowances/provisions, Equity | (293) | |||||||
Retained earnings | ||||||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | ||||||||
Recognition of ECL (IFRS 9) | (284) | |||||||
Reclassification (of IAS 39 carrying amounts), Equity | 72 | |||||||
Remeasurement due to reclassification incl. reversal of IAS 39/ IAS 37 allowances/provisions, Equity | (293) | |||||||
Other comprehensive income recognized directly in equity, net of tax | ||||||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | ||||||||
Reclassification (of IAS 39 carrying amounts), Equity | (72) | |||||||
Total liabilities and equity | ||||||||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | ||||||||
Recognition of ECL (IFRS 9) | (211) | |||||||
Reclassification (of IAS 39 carrying amounts), Equity | 0 | |||||||
Remeasurement due to reclassification incl. reversal of IAS 39/ IAS 37 allowances/provisions, Equity | SFr (245) | |||||||
[1] | Prior period information may not be comparable as a result of the adoption of IFRS 9, Financial Instruments and IFRS 15, Revenue from Contracts with Customers, both effective 1 January 2018. Refer to Note 1 for more information on these changes. |
Reclassifications upon adoption
Reclassifications upon adoption of IFRS 9 (Detail) SFr in Millions | Jan. 01, 2018CHF (SFr) |
Loans and advances to banks, to: Brokerage receivables | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | SFr (17) |
Receivables from securities financing transactions, to: Financial assets at fair value not held for trading | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | (4,957) |
Loans and advances to customers, to: Financial assets at fair value not held for trading | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | (2,678) |
Loans and advances to customers, to: Brokerage receivables | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | (4,691) |
Loans and advances to customers, to: Financial assets at fair value held for trading | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | (468) |
Loans and advances to customers, from: Financial assets at fair value not held for trading | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 8 |
Loans and advances to customers, from: Financial assets at fair value held for trading | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 6 |
Other financial assets measured at amortized cost; to: Brokerage receivables | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | (19,080) |
Other financial assets measured at amortized cost; from: Financial assets measured at fair value through other comprehensive income | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 555 |
Financial assets at fair value held for trading, to: Loans and advances to customers | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | (6) |
Financial assets at fair value held for trading, to: Financial assets at fair value not held for trading | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | (11,316) |
Financial assets at fair value held for trading; from: Loans and advances to customers | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 468 |
Brokerage receivables, from: Loans and advances to banks | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 17 |
Brokerage receivables, from: Loans and advances to customers | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 4,691 |
Brokerage receivables, from: Other financial assets measured at amortized cost | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 19,080 |
Financial assets at fair value not held for trading; from: Loans and advances to customers | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | (8) |
Financial assets at fair value not held for trading; from: Financial assets at fair value held for trading | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 11,316 |
Financial assets at fair value not held for trading; from: Receivables from securities financing transactions | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 4,957 |
Financial assets at fair value not held for trading; from: Loans and advances to customers | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 2,678 |
Financial assets at fair value not held for trading; from: Financial assets measured at fair value through other comprehensive income | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 1,356 |
Financial assets measured at fair value through other comprehensive income, to: Other financial assets measured at amortized cost | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | (555) |
Financial assets measured at fair value through other comprehensive income, to: Financial assets at fair value not held for trading | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | (1,356) |
Payables from securities financing transactions, to: Other financial liabilities designated at fair value | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | (5,081) |
Customer deposits, to: Brokerage payables designated at fair value | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | (5,268) |
Other financial liabilities measured at amortized cost, to: Brokerage payables designated at fair value | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | (29,646) |
Brokerage payables designated at fair value, from: Customer deposits | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 5,268 |
Brokerage payables designated at fair value, from: Other financial liabilities measured at amortized cost | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 29,646 |
Other financial liabilities designated at fair value, from: Payables from securities financing transactions | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 5,081 |
Derecognition from Other financial liabilities measured at amortized cost: Deferred fees on other loan commitments | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | SFr (4) |
Carrying amounts upon adoption
Carrying amounts upon adoption of IFRS 9 (Detail) - CHF (SFr) SFr in Millions | Jun. 30, 2018 | Mar. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | |||
Assets | |||||||
Cash and balances at central banks | SFr 102,262 | SFr 92,800 | SFr 87,775 | SFr 87,775 | |||
Loans and advances to banks | 15,577 | 13,338 | 13,719 | 13,739 | |||
Receivables from securities financing transactions | 76,450 | 77,016 | 84,674 | 89,633 | |||
Cash collateral receivables on derivative instruments | 24,937 | 24,271 | 23,434 | 23,434 | |||
Loans and advances to customers | 318,278 | 316,195 | 310,451 | 318,509 | |||
Other financial assets measured at amortized cost | 20,996 | 19,129 | 18,302 | 36,861 | |||
Total financial assets measured at amortized cost | 558,500 | 542,749 | 538,354 | 569,950 | |||
Financial assets at fair value held for trading | 112,121 | 105,554 | 115,275 | 126,144 | |||
of which: assets pledged as collateral that may be sold or repledged by counterparties | 36,580 | 34,536 | 35,363 | 35,363 | |||
Derivative financial instruments | 121,604 | [1],[2] | 113,333 | [1],[2] | 118,227 | 118,227 | [1],[2] |
Brokerage receivables | 18,415 | 20,250 | 23,787 | ||||
Financial assets at fair value not held for trading | 93,217 | 97,532 | 78,943 | 58,933 | |||
Total financial assets measured at fair value through profit or loss | 345,357 | 336,669 | 336,232 | 303,304 | |||
Financial assets measured at fair value through other comprehensive income | 6,941 | 6,758 | 6,755 | 8,665 | |||
Investments in associates | 1,026 | 1,037 | 1,018 | 1,018 | |||
Property, equipment and software | 9,083 | 8,860 | 8,829 | 8,829 | |||
Goodwill and intangible assets | 6,391 | 6,235 | 6,398 | 6,398 | |||
Deferred tax assets | 9,859 | 9,729 | 9,967 | 9,844 | |||
Other non-financial assets | 7,324 | 7,324 | 7,633 | 7,633 | |||
Total assets | 944,482 | [3] | 919,361 | 915,187 | 915,642 | [3] | |
Liabilities | |||||||
Amounts due to banks | 10,242 | 9,024 | 7,533 | 7,533 | |||
Payables from securities financing transactions | 10,130 | 9,167 | 11,963 | 17,044 | |||
Cash collateral payables on derivative instruments | 31,843 | 29,426 | 30,247 | 30,247 | |||
Customer deposits | 403,430 | 398,604 | 403,731 | 408,999 | |||
Debt issued measured at amortized cost | 137,530 | [4] | 137,883 | [4] | 139,551 | 139,551 | [4] |
Other financial liabilities measured at amortized cost | 6,909 | 5,911 | 6,686 | 36,337 | |||
Total financial liabilities measured at amortized cost | 600,084 | 590,014 | 599,712 | 639,711 | |||
Financial liabilities at fair value held for trading | 31,416 | 34,747 | 30,463 | 30,463 | |||
Derivative financial instruments | 119,223 | [1],[2] | 111,945 | [1],[2] | 116,191 | 116,133 | [1],[2] |
Brokerage payables designated at fair value | 37,904 | 34,793 | 34,915 | ||||
Debt issued designated at fair value | 56,849 | 52,059 | 49,502 | 49,502 | |||
Other financial liabilities designated at fair value | 37,342 | 34,438 | 21,300 | 16,223 | |||
Total financial liabilities measured at fair value through profit or loss | 282,734 | 267,983 | 252,370 | 212,322 | |||
Provisions | 3,123 | 3,044 | 3,207 | 3,133 | |||
Other non-financial liabilities | 7,708 | 7,016 | 9,205 | 9,205 | |||
Total liabilities | 893,649 | 868,056 | 864,494 | 864,371 | |||
Equity | |||||||
Share capital | 385 | 385 | 385 | 385 | |||
Share premium | 22,961 | 25,262 | 25,942 | 25,942 | |||
Treasury shares | (2,032) | (1,520) | (2,133) | (2,133) | |||
Retained earnings | 35,584 | 33,807 | 32,247 | 32,752 | |||
Other comprehensive income recognized directly in equity, net of tax | (6,124) | (6,692) | (5,804) | (5,732) | |||
Equity attributable to shareholders | 50,774 | 51,243 | 50,637 | 51,214 | |||
Equity attributable to non-controlling interests | 60 | 62 | 57 | 57 | |||
Total equity | 50,834 | 51,305 | 50,670 | ||||
Total equity upon the adoption of IFRS 9 | 50,694 | ||||||
Total liabilities and equity | SFr 944,482 | SFr 919,361 | SFr 915,187 | SFr 915,642 | |||
[1] | Derivative financial liabilities as of 30 June 2018 include CHF 0.0 billion related to derivative loan commitments (31 March 2018: CHF 0.1 billion; 31 December 2017: CHF 0.0 billion). No notional amounts related to these commitments are included in this table but they are disclosed within Note 16 under Loan commitments with a committed amount of CHF 8.1 billion as of 30 June 2018 (31 March 2018: CHF 3.9 billion; 31 December 2017: CHF 5.3 billion). | ||||||
[2] | Financial assets and liabilities are presented net on the balance sheet if UBS has the unconditional and legally enforceable right to offset the recognized amounts, both in the normal course of business and in the event of default, bankruptcy or insolvency of the entity and all of the counterparties, and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously. | ||||||
[3] | Prior period information may not be comparable as a result of the adoption of IFRS 9, Financial Instruments and IFRS 15, Revenue from Contracts with Customers, both effective 1 January 2018. Refer to Note 1 for more information on these changes. | ||||||
[4] | Net of bifurcated embedded derivatives, the fair value of which was not material for the periods presented. |
Reclassification and remeasu102
Reclassification and remeasurement of carrying amounts and recognition of ECL upon adoption of IFRS 9 - Footnotes (Detail) SFr in Millions | Jan. 01, 2018CHF (SFr) |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Remeasurement of financial assets (reclassified from amortized cost to fair value through profit or loss) | SFr (303) |
Reversal of allowances (IAS 39) | 26 |
Deferred tax assets recognized, initial application of IFRS 9 | 122 |
Effect of adoption of IFRS 9 classification and measurement changes, pre-tax basis | (351) |
Receivables from securities financing transactions, to: Financial assets at fair value not held for trading | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Remeasurement of financial assets (reclassified from amortized cost to fair value through profit or loss) | (1) |
Amount reclassified upon adoption of IFRS 9 | (4,957) |
Reclassified from Forward starting reverse repurchase agreements into Derivatives | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Notional values | 11,490 |
Loans and advances to customers, to: Financial assets at fair value not held for trading | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Remeasurement of financial assets (reclassified from amortized cost to fair value through profit or loss) | (286) |
Amount reclassified upon adoption of IFRS 9 | (2,678) |
Reversal of allowances (IAS 39) | 11 |
Loans and advances to customers, to: Financial assets at fair value not held for trading | Loans | Investment Bank | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 552 |
Loans and advances to customers, to: Financial assets at fair value not held for trading | Loans | Corporate Center | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 12 |
Loans and advances to customers, to: Financial assets at fair value not held for trading | Auction-rate securities | Corporate Center | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 2,114 |
Loans and advances to customers, to: Financial assets at fair value held for trading | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Remeasurement of financial assets (reclassified from amortized cost to fair value through profit or loss) | (15) |
Amount reclassified upon adoption of IFRS 9 | (468) |
Reversal of allowances (IAS 39) | 15 |
Reclassified to Loans and advances to customers | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 14 |
Derecognized from Derivative liabilities | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 2 |
Available for sale assets reclassified to Financial assets at fair value not held for trading | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 620 |
Available for sale assets reclassified to Financial assets at fair value not held for trading | Equity instruments and Investment fund units | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 736 |
Financial assets designated at fair value reclassified to Financial assets at fair value not held for trading | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Financial Assets Previously Designated At Fair Value Through Profit Or Loss But No Longer So Designated First Application Of IFRS 9 | 58,924 |
Financial assets designated at fair value reclassified to Loans and advances to customers | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Financial Assets Previously Designated At Fair Value Through Profit Or Loss But No Longer So Designated First Application Of IFRS 9 | 8 |
Other financial liabilities designated at fair value, from: Payables from securities financing transactions | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Amount reclassified upon adoption of IFRS 9 | 5,081 |
Reclassified from Forward starting repurchase agreements into Derivatives | |
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |
Notional values | SFr 7,730 |
Reconciliation of allowances an
Reconciliation of allowances and provisions on adoption of IFRS 9 (Detail 1) - CHF (SFr) SFr in Millions | Jan. 01, 2018 | Dec. 31, 2017 | |
Explanation Of First time Adoption Of IFRS9 [Line Items] | |||
Loss allowances and provisions (IAS 39 / IAS 37) | SFr (794) | ||
Reversal of allowances (IAS 39) | SFr 26 | ||
Total on-balance sheet financial assets in scope of ECL requirements | |||
Explanation Of First time Adoption Of IFRS9 [Line Items] | |||
Loss allowances and provisions (IAS 39 / IAS 37) | (761) | ||
Reversal of allowances (IAS 39) | 26 | ||
Loans and advances to banks | |||
Explanation Of First time Adoption Of IFRS9 [Line Items] | |||
Loss allowances and provisions (IAS 39 / IAS 37) | (3) | ||
Loans and advances to customers | |||
Explanation Of First time Adoption Of IFRS9 [Line Items] | |||
Loss allowances and provisions (IAS 39 / IAS 37) | (658) | ||
Reversal of allowances (IAS 39) | [1] | SFr 26 | |
Other financial assets measured at amortized cost | |||
Explanation Of First time Adoption Of IFRS9 [Line Items] | |||
Loss allowances and provisions (IAS 39 / IAS 37) | [2] | (101) | |
Total off-balance sheet financial instruments and other credit lines | |||
Explanation Of First time Adoption Of IFRS9 [Line Items] | |||
Loss allowances and provisions (IAS 39 / IAS 37) | (33) | ||
Guarantees | |||
Explanation Of First time Adoption Of IFRS9 [Line Items] | |||
Loss allowances and provisions (IAS 39 / IAS 37) | (29) | ||
Loan commitments | |||
Explanation Of First time Adoption Of IFRS9 [Line Items] | |||
Loss allowances and provisions (IAS 39 / IAS 37) | SFr (4) | ||
[1] | The reversal of CHF 26 million of IAS 39 loss allowances relates to instruments reclassified from amortized cost to fair value through profit or loss on transition to IFRS 9. Refer also to footnotes 3 and 4 to the table “Reclassification and remeasurement of carrying amounts and recognition of ECL upon adoption of IFRS 9.” | ||
[2] | Includes CHF 82 million related to loans to financial advisors for which an allowance was reported as a direct reduction of the carrying amount as of 31 December 2017. |
Reconciliation of allowances104
Reconciliation of allowances and provisions on adoption of IFRS 9 (Detail 2) SFr in Millions | Jan. 01, 2018CHF (SFr) | |
Explanation Of First time Adoption Of IFRS9 [Line Items] | ||
Additional Allowance Recognised In Profit Or Loss Allowance Account For Credit Losses Of Financial Assets | SFr (348) | [1] |
Twelve month Expected Credit Losses [Member] | Positions that are not credit impaired | ||
Explanation Of First time Adoption Of IFRS9 [Line Items] | ||
Additional Allowance Recognised In Profit Or Loss Allowance Account For Credit Losses Of Financial Assets | (144) | |
Lifetime Expected Credit Losses [Member] | Positions that are not credit impaired | ||
Explanation Of First time Adoption Of IFRS9 [Line Items] | ||
Additional Allowance Recognised In Profit Or Loss Allowance Account For Credit Losses Of Financial Assets | (188) | |
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | ||
Explanation Of First time Adoption Of IFRS9 [Line Items] | ||
Additional Allowance Recognised In Profit Or Loss Allowance Account For Credit Losses Of Financial Assets | (16) | [2] |
Total on-balance sheet financial assets in scope of ECL requirements | ||
Explanation Of First time Adoption Of IFRS9 [Line Items] | ||
Additional Allowance Recognised In Profit Or Loss Allowance Account For Credit Losses Of Financial Assets | (275) | [1] |
Cash and balances at central banks | ||
Explanation Of First time Adoption Of IFRS9 [Line Items] | ||
Additional Allowance Recognised In Profit Or Loss Allowance Account For Credit Losses Of Financial Assets | 0 | [1] |
Loans and advances to banks | ||
Explanation Of First time Adoption Of IFRS9 [Line Items] | ||
Additional Allowance Recognised In Profit Or Loss Allowance Account For Credit Losses Of Financial Assets | (3) | [1] |
Receivables from securities financing transactions | ||
Explanation Of First time Adoption Of IFRS9 [Line Items] | ||
Additional Allowance Recognised In Profit Or Loss Allowance Account For Credit Losses Of Financial Assets | (2) | [1] |
Cash collateral receivables on derivative instruments | ||
Explanation Of First time Adoption Of IFRS9 [Line Items] | ||
Additional Allowance Recognised In Profit Or Loss Allowance Account For Credit Losses Of Financial Assets | 0 | [1] |
Loans and advances to customers | ||
Explanation Of First time Adoption Of IFRS9 [Line Items] | ||
Additional Allowance Recognised In Profit Or Loss Allowance Account For Credit Losses Of Financial Assets | (235) | [1],[3] |
Other financial assets measured at amortized cost | ||
Explanation Of First time Adoption Of IFRS9 [Line Items] | ||
Additional Allowance Recognised In Profit Or Loss Allowance Account For Credit Losses Of Financial Assets | (35) | [1] |
Loans to financial advisors | ||
Explanation Of First time Adoption Of IFRS9 [Line Items] | ||
Additional Allowance Recognised In Profit Or Loss Allowance Account For Credit Losses Of Financial Assets | 82 | [1] |
Total off-balance sheet financial instruments and other credit lines | ||
Explanation Of First time Adoption Of IFRS9 [Line Items] | ||
Additional Allowance Recognised In Profit Or Loss Allowance Account For Credit Losses Of Financial Assets | (74) | [1] |
Guarantees | ||
Explanation Of First time Adoption Of IFRS9 [Line Items] | ||
Additional Allowance Recognised In Profit Or Loss Allowance Account For Credit Losses Of Financial Assets | (8) | [1] |
Loan commitments | ||
Explanation Of First time Adoption Of IFRS9 [Line Items] | ||
Additional Allowance Recognised In Profit Or Loss Allowance Account For Credit Losses Of Financial Assets | (32) | [1] |
Other credit lines | ||
Explanation Of First time Adoption Of IFRS9 [Line Items] | ||
Additional Allowance Recognised In Profit Or Loss Allowance Account For Credit Losses Of Financial Assets | SFr (34) | [1] |
[1] | Includes stage 1 and stage 2 expected credit losses and additional stage 3 expected credit losses. | |
[2] | The incremental increase in stage 3 allowances of CHF 16 million arises from additional consideration of forward looking scenarios under IFRS 9. | |
[3] | Includes the reversal of collective allowances of CHF 13 million. |
IFRS 9 impact on other comprehe
IFRS 9 impact on other comprehensive income and retained earnings (Detail) SFr in Millions | Jan. 01, 2018CHF (SFr) |
Other comprehensive income recognized directly in equity, net of tax | |
Reclassification of financial assets (available for sale to fair value through profit or loss) - equity instruments | SFr (199) |
Reclassification of financial assets (available for sale to fair value through profit or loss) - debt instruments | (5) |
Tax (expense) / benefit | 131 |
Total change in other comprehensive income | (72) |
Retained earnings | |
Remeasurement of financial assets (reclassified from amortized cost to fair value through profit or loss) | (303) |
Reclassification of financial assets (reclassified from available for sale to fair value through profit or loss) | 204 |
Recognition of ECL for on-balance sheet financial assets | (275) |
Remeasurement of financial liabilities (reclassified from amortized cost to designated at fair value through profit or loss) | 5 |
Recognition of derivative loan commitments measured at fair value through profit or loss | (60) |
Derecognition of liabilities for deferred fees on other loan commitments | 4 |
Derecognition of derivative loan commitments measured at fair value through profit or loss | 2 |
Expected Credit Losses For Off Balance Sheet Positions Recognized In Retained Earnings First Application Of IFRS 9 | (74) |
Tax (expense) / benefit | (9) |
Total change in retained earnings | (505) |
Total change in equity due to the adoption of IFRS 9 | SFr (577) |