Document and Entity Information
Document and Entity Information | 6 Months Ended |
Jun. 30, 2018shares | |
Document Information [Line Items] | |
Entity Registrant Name | CREDIT SUISSE GROUP AG |
Entity Central Index Key | 1,159,510 |
Trading Symbol | CS |
Document Type | 6-K |
Document Period End Date | Jun. 30, 2018 |
Amendment Flag | false |
Current Fiscal Year End Date | --12-31 |
Entity Well-known Seasoned Issuer | No |
Entity Voluntary Filers | No |
Entity Current Reporting Status | Yes |
Entity Filer Category | Large Accelerated Filer |
Entity Common Stock, Shares Outstanding | 2,550,043,769 |
Document Fiscal Year Focus | 2,018 |
Document Fiscal Period Focus | Q2 |
Bank | |
Document Information [Line Items] | |
Entity Registrant Name | CREDIT SUISSE AG |
Entity Central Index Key | 1,053,092 |
Document Type | 6-K |
Document Period End Date | Jun. 30, 2018 |
Amendment Flag | false |
Current Fiscal Year End Date | --12-31 |
Entity Well-known Seasoned Issuer | No |
Entity Voluntary Filers | No |
Entity Current Reporting Status | Yes |
Entity Filer Category | Large Accelerated Filer |
Entity Common Stock, Shares Outstanding | 4,399,680,200 |
Document Fiscal Year Focus | 2,018 |
Document Fiscal Period Focus | H1 |
Consolidated statements of oper
Consolidated statements of operations - 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 | |
Interest and dividend income | SFr 5,090 | SFr 4,451 | SFr 4,602 | SFr 9,541 | SFr 8,644 |
Interest expense | (3,497) | (2,866) | (2,865) | (6,363) | (5,274) |
Net interest income | 1,593 | 1,585 | 1,737 | 3,178 | 3,370 |
Commissions and fees | 3,159 | 3,046 | 2,905 | 6,205 | 5,951 |
Trading revenues | 528 | 578 | 237 | 1,106 | 811 |
Other revenues | 315 | 427 | 326 | 742 | 607 |
Net revenues | 5,595 | 5,636 | 5,205 | 11,231 | 10,739 |
Provision for credit losses | 73 | 48 | 82 | 121 | 135 |
Compensation and benefits | 2,547 | 2,538 | 2,595 | 5,085 | 5,300 |
General and administrative expenses | 1,420 | 1,508 | 1,527 | 2,928 | 3,128 |
Commission expenses | 328 | 344 | 350 | 672 | 718 |
Restructuring expenses | 175 | 144 | 69 | 319 | 206 |
Total other operating expenses | 1,923 | 1,996 | 1,946 | 3,919 | 4,052 |
Total operating expenses | 4,470 | 4,534 | 4,541 | 9,004 | 9,352 |
Income/(loss) before taxes | 1,052 | 1,054 | 582 | 2,106 | 1,252 |
Income tax expense/(benefit) | 398 | 362 | 276 | 760 | 354 |
Net income/(loss) | 654 | 692 | 306 | 1,346 | 898 |
Net income/(loss) attributable to noncontrolling interests | 7 | (2) | 3 | 5 | (1) |
Net income/(loss) attributable to shareholders | SFr 647 | SFr 694 | SFr 303 | SFr 1,341 | SFr 899 |
Basic earnings per share (CHF) | |||||
Basic earnings/(loss) per share (in CHF per share) | SFr 0.25 | SFr 0.27 | SFr 0.13 | SFr 0.52 | SFr 0.40 |
Diluted earnings per share (CHF) | |||||
Diluted earnings/(loss) per share (in CHF per share) | SFr 0.25 | SFr 0.26 | SFr 0.13 | SFr 0.51 | SFr 0.39 |
Bank | |||||
Interest and dividend income | SFr 5,094 | SFr 4,602 | SFr 9,546 | SFr 8,645 | |
Interest expense | (3,467) | (2,857) | (6,303) | (5,205) | |
Net interest income | 1,627 | 1,745 | 3,243 | 3,440 | |
Commissions and fees | 3,120 | 2,869 | 6,126 | 5,874 | |
Trading revenues | 534 | 249 | 1,048 | 774 | |
Other revenues | 330 | 355 | 779 | 652 | |
Net revenues | 5,611 | 5,218 | 11,196 | 10,740 | |
Provision for credit losses | 73 | 82 | 121 | 135 | |
Compensation and benefits | 2,353 | 2,577 | 4,701 | 5,288 | |
General and administrative expenses | 1,735 | 1,619 | 3,558 | 3,292 | |
Commission expenses | 328 | 350 | 672 | 718 | |
Restructuring expenses | 145 | 61 | 257 | 155 | |
Total other operating expenses | 2,208 | 2,030 | 4,487 | 4,165 | |
Total operating expenses | 4,561 | 4,607 | 9,188 | 9,453 | |
Income/(loss) before taxes | 977 | 529 | 1,887 | 1,152 | |
Income tax expense/(benefit) | 330 | 289 | 629 | 386 | |
Net income/(loss) | 647 | 240 | 1,258 | 766 | |
Net income/(loss) attributable to noncontrolling interests | 9 | 0 | 9 | (2) | |
Net income/(loss) attributable to shareholders | SFr 638 | SFr 240 | SFr 1,249 | SFr 768 |
Consolidated statements of comp
Consolidated statements 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 | |
Comprehensive income | |||||
Net income/(loss) | SFr 654 | SFr 692 | SFr 306 | SFr 1,346 | SFr 898 |
Gains/(losses) on cash flow hedges | (10) | (33) | 10 | (43) | 6 |
Foreign currency translation | 565 | (502) | (1,101) | 63 | (1,601) |
Unrealized gains/(losses) on securities | (8) | (6) | (5) | (14) | (7) |
Actuarial gains/(losses) | 73 | 80 | 82 | 153 | 185 |
Net prior service cost | (29) | (31) | (28) | (60) | (67) |
Gains/(losses) on liabilities related to credit risk | 761 | 391 | (630) | 1,152 | (1,143) |
Other comprehensive income/(loss), net of tax | 1,352 | (101) | (1,672) | 1,251 | (2,627) |
Comprehensive income/(loss) | 2,006 | 591 | (1,366) | 2,597 | (1,729) |
Comprehensive income/(loss) attributable to noncontrolling interests | 12 | (11) | (3) | 1 | (11) |
Comprehensive income/(loss) attributable to shareholders | 1,994 | SFr 602 | (1,363) | 2,596 | (1,718) |
Bank | |||||
Comprehensive income | |||||
Net income/(loss) | 647 | 240 | 1,258 | 766 | |
Gains/(losses) on cash flow hedges | (7) | 8 | (43) | 2 | |
Foreign currency translation | 557 | (1,088) | 62 | (1,576) | |
Unrealized gains/(losses) on securities | (8) | (5) | (13) | (7) | |
Actuarial gains/(losses) | 11 | 13 | 15 | 25 | |
Net prior service cost | 0 | 0 | 0 | 0 | |
Gains/(losses) on liabilities related to credit risk | 673 | (562) | 991 | (925) | |
Other comprehensive income/(loss), net of tax | 1,226 | (1,634) | 1,012 | (2,481) | |
Comprehensive income/(loss) | 1,873 | (1,394) | 2,270 | (1,715) | |
Comprehensive income/(loss) attributable to noncontrolling interests | 37 | (33) | 16 | (53) | |
Comprehensive income/(loss) attributable to shareholders | SFr 1,836 | SFr (1,361) | SFr 2,254 | SFr (1,662) |
Consolidated balance sheets
Consolidated balance sheets - CHF (SFr) SFr in Millions | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | |||
Assets | ||||||
Cash and due from banks | SFr 112,513 | SFr 118,164 | SFr 109,815 | |||
of which reported at fair value | 185 | 93 | 212 | |||
Interest-bearing deposits with banks | 1,022 | 730 | 726 | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 117,617 | 121,170 | 115,346 | |||
of which reported at fair value | 75,706 | 85,086 | 77,498 | |||
Securities received as collateral, at fair value | 45,522 | 41,227 | 38,074 | |||
of which encumbered | 25,770 | 22,629 | 23,632 | |||
Trading assets, at fair value | 135,586 | 140,201 | 156,334 | |||
of which encumbered | 35,077 | 41,484 | 49,237 | |||
Investment securities | 2,331 | 2,146 | 2,191 | |||
of which reported at fair value | 2,331 | 2,146 | 2,191 | |||
Other investments | 5,626 | 5,487 | 5,964 | |||
of which reported at fair value | 3,139 | 3,112 | 3,506 | |||
Net loans | 287,660 | 283,854 | 279,149 | |||
of which reported at fair value | 15,711 | 14,717 | 15,307 | |||
of which encumbered | 161 | 207 | 186 | |||
Allowance for loan losses | (905) | (858) | (882) | |||
Premises and equipment | 4,831 | 4,677 | 4,686 | |||
Goodwill | 4,797 | 4,667 | 4,742 | |||
Other intangible assets | 212 | 212 | 223 | |||
of which reported at fair value | 151 | 150 | 158 | |||
Brokerage receivables | 45,132 | 52,739 | 46,968 | |||
Other assets | 35,309 | 33,778 | 32,071 | |||
of which reported at fair value | 9,743 | 9,931 | 9,018 | |||
of which encumbered | 229 | 162 | 134 | |||
Total assets | 798,158 | 809,052 | 796,289 | |||
Liabilities and equity | ||||||
Due to banks | 17,459 | 18,858 | 15,413 | |||
of which reported at fair value | 169 | 213 | 197 | |||
Customer deposits | 367,408 | 368,382 | 361,162 | |||
of which reported at fair value | 3,407 | 3,371 | 3,511 | |||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 19,886 | 27,579 | 26,496 | |||
of which reported at fair value | 9,457 | 15,740 | 15,262 | |||
Obligation to return securities received as collateral, at fair value | 45,522 | 41,227 | 38,074 | |||
Trading liabilities, at fair value | 42,776 | 44,755 | 39,119 | |||
Short-term borrowings | 30,573 | 31,872 | 25,889 | |||
of which reported at fair value | 11,675 | 11,535 | 11,019 | |||
Long-term debt | 165,961 | 166,166 | 173,032 | |||
of which reported at fair value | 62,205 | 61,536 | 63,628 | |||
Brokerage payables | 34,450 | 37,838 | 43,303 | |||
Other liabilities | 30,514 | 29,678 | 31,612 | |||
of which reported at fair value | 7,750 | 8,296 | 8,624 | |||
Total liabilities | 754,549 | 766,355 | 754,100 | |||
Common shares | 102 | 102 | 102 | |||
Additional paid-in capital | 34,678 | 35,933 | 35,668 | |||
Retained earnings | 26,290 | 25,643 | 24,973 | |||
Treasury shares, at cost | (96) | (287) | (103) | |||
Accumulated other comprehensive income/(loss) | (17,504) | (18,851) | (18,738) | |||
Total shareholders' equity | 43,470 | 42,540 | 41,902 | |||
Noncontrolling interests | 139 | 157 | 287 | |||
Total equity | 43,609 | 42,697 | 42,189 | |||
Total liabilities and equity | SFr 798,158 | SFr 809,052 | SFr 796,289 | |||
Additional share information | ||||||
Par value (in CHF per share) | SFr 0.04 | SFr 0.04 | SFr 0.04 | |||
Authorized shares (in shares) | [1] | 3,271,129,950 | 3,271,129,950 | 3,271,129,950 | ||
Issued shares (in shares) | 2,556,011,720 | 2,556,011,720 | 2,556,011,720 | |||
Treasury shares (in shares) | 5,967,951 | 16,413,030 | 5,757,666 | |||
Common shares outstanding (in shares) | 2,550,043,769 | [2] | 2,539,598,690 | [2] | 2,550,254,054 | |
Consolidated VIEs | ||||||
Assets | ||||||
Cash and due from banks | SFr 240 | SFr 191 | SFr 232 | |||
Trading assets, at fair value | 1,252 | 1,308 | 1,348 | |||
Investment securities | 679 | 586 | 381 | |||
Other investments | 1,610 | 1,584 | 1,833 | |||
Net loans | 299 | 257 | 267 | |||
Premises and equipment | 126 | 124 | 151 | |||
Other assets | 2,039 | 2,022 | 2,398 | |||
Liabilities and equity | ||||||
Trading liabilities, at fair value | 3 | 3 | 3 | |||
Long-term debt | 1,072 | 994 | 863 | |||
Other liabilities | 220 | SFr 209 | 204 | |||
Bank | ||||||
Assets | ||||||
Cash and due from banks | 111,636 | 109,510 | ||||
of which reported at fair value | 185 | 212 | ||||
Interest-bearing deposits with banks | 1,017 | 721 | ||||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 117,617 | 115,346 | ||||
of which reported at fair value | 75,706 | 77,498 | ||||
Securities received as collateral, at fair value | 45,522 | 38,074 | ||||
of which encumbered | 25,770 | 23,632 | ||||
Trading assets, at fair value | 135,787 | 156,774 | ||||
of which encumbered | 35,077 | 49,237 | ||||
Investment securities | 2,329 | 2,189 | ||||
of which reported at fair value | 2,329 | 2,189 | ||||
Other investments | 5,554 | 5,893 | ||||
of which reported at fair value | 3,131 | 3,497 | ||||
Net loans | 293,178 | 283,237 | ||||
of which reported at fair value | 15,711 | 15,307 | ||||
of which encumbered | 161 | 186 | ||||
Allowance for loan losses | (904) | (881) | ||||
Premises and equipment | 4,532 | 4,445 | ||||
Goodwill | 4,085 | 4,036 | ||||
Other intangible assets | 212 | 223 | ||||
of which reported at fair value | 151 | 158 | ||||
Brokerage receivables | 45,132 | 46,968 | ||||
Other assets | 34,027 | 30,956 | ||||
of which reported at fair value | 9,743 | 9,018 | ||||
of which encumbered | 229 | 134 | ||||
Total assets | 800,628 | 798,372 | ||||
Liabilities and equity | ||||||
Due to banks | 17,452 | 15,411 | ||||
of which reported at fair value | 169 | 197 | ||||
Customer deposits | 368,839 | 362,303 | ||||
of which reported at fair value | 3,407 | 3,511 | ||||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 19,886 | 26,496 | ||||
of which reported at fair value | 9,457 | 15,262 | ||||
Obligation to return securities received as collateral, at fair value | 45,522 | 38,074 | ||||
Trading liabilities, at fair value | 42,779 | 39,132 | ||||
Short-term borrowings | 31,070 | 26,378 | ||||
of which reported at fair value | 11,675 | 11,019 | ||||
Long-term debt | 165,110 | 172,042 | ||||
of which reported at fair value | 61,272 | 62,622 | ||||
Brokerage payables | 34,450 | 43,303 | ||||
Other liabilities | 30,438 | 31,683 | ||||
of which reported at fair value | 7,735 | 8,590 | ||||
Total liabilities | 755,546 | 754,822 | ||||
Common shares | 4,400 | 4,400 | ||||
Additional paid-in capital | 45,188 | 45,718 | ||||
Retained earnings | 9,700 | 8,484 | ||||
Accumulated other comprehensive income/(loss) | (14,949) | (15,932) | ||||
Total shareholders' equity | 44,339 | 42,670 | ||||
Noncontrolling interests | 743 | 880 | ||||
Total equity | 45,082 | 43,550 | ||||
Total liabilities and equity | SFr 800,628 | SFr 798,372 | ||||
Additional share information | ||||||
Par value (in CHF per share) | [3] | SFr 1 | SFr 1 | |||
Issued shares (in shares) | [3] | 4,399,680,200 | 4,399,680,200 | |||
Common shares outstanding (in shares) | [3] | 4,399,680,200 | 4,399,680,200 | |||
Bank | Consolidated VIEs | ||||||
Assets | ||||||
Cash and due from banks | SFr 240 | SFr 232 | ||||
Trading assets, at fair value | 1,252 | 1,348 | ||||
Investment securities | 679 | 381 | ||||
Other investments | 1,610 | 1,833 | ||||
Net loans | 299 | 267 | ||||
Premises and equipment | 104 | 128 | ||||
Other assets | 2,037 | 2,396 | ||||
Liabilities and equity | ||||||
Trading liabilities, at fair value | 3 | 3 | ||||
Long-term debt | 1,072 | 863 | ||||
Other liabilities | SFr 219 | SFr 204 | ||||
[1] | Includes issued shares and unissued shares (conditional, conversion and authorized capital). | |||||
[2] | At par value CHF 0.04 each, fully paid. In addition to the treasury shares, a maximum of 653,000,000 unissued shares (conditional, conversion and authorized capital) were available for issuance without further approval of the shareholders. 505'062'294 of these shares were reserved for capital instruments. | |||||
[3] | The Bank's total share capital is fully paid and consists of 4'399'680'200 registered shares as of June 30, 2018. Each share is entitled to one vote. The Bank has no warrants on its own shares outstanding. |
Consolidated statements of chan
Consolidated statements of changes in equity - CHF (SFr) SFr in Millions | Total | Total shareholders' equity | Common shares | Additional paid-in capital | Retained earnings | Treasury shares, at cost | Accumulated other comprehensive income | Noncontrolling interests | Bank | BankTotal shareholders' equity | BankCommon shares | BankAdditional paid-in capital | BankRetained earnings | BankTreasury shares, at cost | BankAccumulated other comprehensive income | BankNoncontrolling interests | ||||||
Balance at Dec. 31, 2016 | SFr 42,311 | SFr 41,897 | SFr 84 | SFr 32,131 | SFr 25,954 | SFr 0 | SFr (16,272) | SFr 414 | SFr 43,858 | SFr 42,789 | SFr 4,400 | SFr 41,817 | SFr 9,814 | SFr 0 | SFr (13,242) | SFr 1,069 | ||||||
Increase (decrease) in shareholders' equity | ||||||||||||||||||||||
Purchase of subsidiary shares from noncontrolling interests, not changing ownership | (55) | (55) | (64) | (64) | ||||||||||||||||||
Sale of subsidiary shares to noncontrolling interests, not changing ownership | 29 | 29 | 30 | 30 | ||||||||||||||||||
Net income/(loss) | 898 | 899 | 899 | (1) | 766 | 768 | 768 | (2) | ||||||||||||||
Total other comprehensive income/(loss), net of tax | (2,627) | (2,617) | (2,617) | (10) | (2,481) | (2,430) | (2,430) | (51) | ||||||||||||||
Issuance of common shares | 5,213 | 5,213 | 18 | 5,195 | ||||||||||||||||||
Sale of treasury shares | 5,834 | 5,834 | (8) | 5,842 | ||||||||||||||||||
Repurchase of treasury shares | (6,445) | (6,445) | (6,445) | |||||||||||||||||||
Share-based compensation, net of tax | 221 | 221 | (342) | 563 | (359) | (359) | (359) | |||||||||||||||
Financial instruments indexed to own shares | 203 | 203 | 203 | |||||||||||||||||||
Dividends on share-based compensation, net of tax | (78) | (78) | (78) | |||||||||||||||||||
Dividends paid | (1,548) | (1,546) | (12) | (10) | (10) | |||||||||||||||||
Dividends paid out of reserves from capital contributions | (1,546) | |||||||||||||||||||||
Cash dividends paid to noncontrolling interest holders | (2) | (2) | ||||||||||||||||||||
Change in scope of consolidation, net | (20) | (20) | (20) | (20) | ||||||||||||||||||
Other | (180) | (168) | (168) | (12) | 4,056 | 4,069 | 4,069 | (13) | ||||||||||||||
Balance at Jun. 30, 2017 | 43,836 | 43,493 | 102 | 35,465 | 26,855 | (40) | (18,889) | 343 | 45,671 | 44,724 | 4,400 | 45,449 | 10,547 | 0 | (15,672) | 947 | ||||||
Balance at Mar. 31, 2017 | 42,079 | 41,702 | 84 | 32,388 | 26,552 | (99) | (17,223) | 377 | ||||||||||||||
Increase (decrease) in shareholders' equity | ||||||||||||||||||||||
Purchase of subsidiary shares from noncontrolling interests, not changing ownership | (30) | (30) | ||||||||||||||||||||
Sale of subsidiary shares to noncontrolling interests, not changing ownership | 12 | 12 | ||||||||||||||||||||
Net income/(loss) | 306 | 303 | 303 | 3 | ||||||||||||||||||
Total other comprehensive income/(loss), net of tax | (1,672) | (1,666) | (1,666) | (6) | (1,634) | |||||||||||||||||
Issuance of common shares | 5,213 | 5,213 | 18 | 5,195 | ||||||||||||||||||
Sale of treasury shares | 3,312 | 3,312 | 10 | 3,302 | ||||||||||||||||||
Repurchase of treasury shares | (3,789) | (3,789) | (3,789) | |||||||||||||||||||
Share-based compensation, net of tax | (71) | (71) | (617) | 546 | ||||||||||||||||||
Financial instruments indexed to own shares | 203 | 203 | 203 | |||||||||||||||||||
Dividends paid | (1,546) | (1,546) | ||||||||||||||||||||
Dividends paid out of reserves from capital contributions | (1,546) | |||||||||||||||||||||
Change in scope of consolidation, net | (8) | (8) | ||||||||||||||||||||
Other | (173) | (168) | (168) | (5) | ||||||||||||||||||
Balance at Jun. 30, 2017 | 43,836 | 43,493 | 102 | 35,465 | 26,855 | (40) | (18,889) | 343 | 45,671 | 44,724 | 4,400 | 45,449 | 10,547 | 0 | (15,672) | 947 | ||||||
Increase (decrease) in shareholders' equity | ||||||||||||||||||||||
Cumulative effect of accounting changes, net of tax | 2 | 2 | 2 | (25) | (25) | (25) | ||||||||||||||||
Balance at Dec. 31, 2017 | 42,189 | 41,902 | 102 | 35,668 | 24,973 | (103) | (18,738) | 287 | 43,550 | 42,670 | 4,400 | 45,718 | 8,484 | 0 | [1] | (15,932) | 880 | |||||
Increase (decrease) in shareholders' equity | ||||||||||||||||||||||
Purchase of subsidiary shares from noncontrolling interests, not changing ownership | (21) | (21) | ||||||||||||||||||||
Sale of subsidiary shares to noncontrolling interests, not changing ownership | 9 | 9 | ||||||||||||||||||||
Net income/(loss) | 692 | 694 | 694 | (2) | ||||||||||||||||||
Total other comprehensive income/(loss), net of tax | (101) | (92) | (92) | (9) | ||||||||||||||||||
Sale of treasury shares | 3,433 | 3,433 | (10) | 3,443 | ||||||||||||||||||
Repurchase of treasury shares | (3,655) | (3,655) | (3,655) | |||||||||||||||||||
Share-based compensation, net of tax | 303 | 303 | 275 | 28 | ||||||||||||||||||
Dividends paid | (3) | |||||||||||||||||||||
Cash dividends paid to noncontrolling interest holders | (3) | |||||||||||||||||||||
Change in scope of consolidation, net | (104) | (104) | ||||||||||||||||||||
Balance at Mar. 31, 2018 | 42,697 | 42,540 | 102 | 35,933 | 25,643 | (287) | (18,851) | 157 | ||||||||||||||
Balance at Dec. 31, 2017 | 42,189 | 41,902 | 102 | 35,668 | 24,973 | (103) | (18,738) | 287 | 43,550 | 42,670 | 4,400 | 45,718 | 8,484 | 0 | [1] | (15,932) | 880 | |||||
Increase (decrease) in shareholders' equity | ||||||||||||||||||||||
Purchase of subsidiary shares from noncontrolling interests, changing ownership | (5) | (1) | (1) | (4) | ||||||||||||||||||
Purchase of subsidiary shares from noncontrolling interests, not changing ownership | (36) | [2],[3] | (36) | [2],[3] | (37) | [4],[5] | (37) | [4],[5] | ||||||||||||||
Sale of subsidiary shares to noncontrolling interests, not changing ownership | 10 | [3] | 10 | [3] | 11 | [5] | 11 | [5] | ||||||||||||||
Net income/(loss) | 1,346 | 1,341 | 1,341 | 5 | 1,258 | 1,249 | 1,249 | 9 | ||||||||||||||
Total other comprehensive income/(loss), net of tax | 1,251 | 1,255 | 1,255 | (4) | 1,012 | 1,005 | 1,005 | 7 | ||||||||||||||
Sale of treasury shares | 6,175 | 6,175 | (13) | 6,188 | ||||||||||||||||||
Repurchase of treasury shares | (6,899) | (6,899) | (6,899) | |||||||||||||||||||
Share-based compensation, net of tax | 231 | 231 | (487) | 718 | (508) | (508) | (508) | |||||||||||||||
Financial instruments indexed to own shares | [6] | 171 | 171 | 171 | ||||||||||||||||||
Dividends on share-based compensation, net of tax | (21) | (21) | (21) | |||||||||||||||||||
Dividends paid | (665) | (661) | (14) | (10) | (10) | |||||||||||||||||
Dividends paid out of reserves from capital contributions | [7] | (661) | ||||||||||||||||||||
Cash dividends paid to noncontrolling interest holders | (4) | (4) | ||||||||||||||||||||
Change in scope of consolidation, net | (119) | (119) | (119) | (119) | ||||||||||||||||||
Balance at Jun. 30, 2018 | 43,609 | 43,470 | 102 | 34,678 | 26,290 | (96) | (17,504) | 139 | 45,082 | 44,339 | 4,400 | 45,188 | 9,700 | 0 | [1] | (14,949) | 743 | |||||
Increase (decrease) in shareholders' equity | ||||||||||||||||||||||
Cumulative effect of accounting changes, net of tax | (45) | (45) | (24) | (21) | ||||||||||||||||||
Balance at Mar. 31, 2018 | 42,697 | 42,540 | 102 | 35,933 | 25,643 | (287) | (18,851) | 157 | ||||||||||||||
Increase (decrease) in shareholders' equity | ||||||||||||||||||||||
Purchase of subsidiary shares from noncontrolling interests, not changing ownership | [8],[9] | (15) | (15) | |||||||||||||||||||
Sale of subsidiary shares to noncontrolling interests, not changing ownership | [9] | 1 | 1 | |||||||||||||||||||
Net income/(loss) | 654 | 647 | 647 | 7 | ||||||||||||||||||
Total other comprehensive income/(loss), net of tax | 1,352 | 1,347 | 1,347 | 5 | 1,226 | |||||||||||||||||
Sale of treasury shares | 2,742 | 2,742 | (3) | 2,745 | ||||||||||||||||||
Repurchase of treasury shares | (3,244) | (3,244) | (3,244) | |||||||||||||||||||
Share-based compensation, net of tax | (72) | (72) | (762) | 690 | ||||||||||||||||||
Financial instruments indexed to own shares | [10] | 171 | 171 | 171 | ||||||||||||||||||
Dividends paid | (662) | (661) | ||||||||||||||||||||
Dividends paid out of reserves from capital contributions | [11] | (661) | ||||||||||||||||||||
Cash dividends paid to noncontrolling interest holders | (1) | |||||||||||||||||||||
Change in scope of consolidation, net | (15) | (15) | ||||||||||||||||||||
Balance at Jun. 30, 2018 | 43,609 | 43,470 | SFr 102 | SFr 34,678 | 26,290 | SFr (96) | (17,504) | SFr 139 | 45,082 | 44,339 | SFr 4,400 | SFr 45,188 | 9,700 | SFr 0 | [1] | (14,949) | SFr 743 | |||||
Increase (decrease) in shareholders' equity | ||||||||||||||||||||||
Cumulative effect of accounting changes, net of tax | SFr (45) | SFr (45) | SFr (24) | SFr (21) | SFr (45) | SFr (45) | SFr (23) | SFr (22) | ||||||||||||||
[1] | Reflects Credit Suisse Group shares which are reported as treasury shares. Those shares are held to economically hedge share award obligations. | |||||||||||||||||||||
[2] | Distributions to owners in funds include the return of original capital invested and any related dividends. | |||||||||||||||||||||
[3] | Transactions with and without ownership changes related to fund activity are all displayed under "not changing ownership". | |||||||||||||||||||||
[4] | Distributions to owners in funds include the return of original capital invested and any related dividends. | |||||||||||||||||||||
[5] | Transactions with and without ownership changes related to fund activity are all displayed under "not changing ownership". | |||||||||||||||||||||
[6] | Includes certain call options the Group purchased on its own shares to economically hedge share-based compensation awards. In accordance with US GAAP, these call options were designated as equity instruments and, as such, were initially recognized in shareholders' equity at their fair values and not subsequently remeasured. | |||||||||||||||||||||
[7] | Paid out of capital contribution reserves. | |||||||||||||||||||||
[8] | Distributions to owners in funds include the return of original capital invested and any related dividends. | |||||||||||||||||||||
[9] | Transactions with and without ownership changes related to fund activity are all displayed under "not changing ownership". | |||||||||||||||||||||
[10] | Includes certain call options the Group purchased on its own shares to economically hedge share-based compensation awards. In accordance with US GAAP, these call options were designated as equity instruments and, as such, were initially recognized in shareholders' equity at their fair values and not subsequently remeasured. | |||||||||||||||||||||
[11] | Paid out of reserves from capital contributions. |
Consolidated statements of cha6
Consolidated statements of changes in equity (Parenthetical) SFr in Millions | 6 Months Ended |
Jun. 30, 2018CHF (SFr) | |
Bank | |
Additional paid-in capital increase, capital contribution | SFr 0 |
Consolidated statements of cash
Consolidated statements of cash flows - CHF (SFr) SFr in Millions | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Operating activities of continuing operations | ||
Net income/(loss) | SFr 1,346 | SFr 898 |
Adjustments to reconcile net income/(loss) to net cash provided by/(used in) operating activities of continuing operations | ||
Impairment, depreciation and amortization | 416 | 436 |
Provision for credit losses | 121 | 135 |
Deferred tax provision/(benefit) | 446 | 31 |
Share of net income/(loss) from equity method investments | (17) | (90) |
Trading assets and liabilities, net | 24,911 | 19,415 |
(Increase)/decrease in other assets | (2,624) | (11,986) |
Increase/(decrease) in other liabilities | (10,484) | (10,939) |
Other, net | (2,304) | (132) |
Total adjustments | 10,465 | (3,130) |
Net cash provided by/(used in) operating activities | 11,811 | (2,232) |
Investing activities of continuing operations | ||
(Increase)/decrease in interest-bearing deposits with banks | (299) | 126 |
(Increase)/decrease in central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | (963) | (2,330) |
Purchase of investment securities | (379) | (44) |
Proceeds from sale of investment securities | 255 | 7 |
Maturities of investment securities | 311 | 192 |
Investments in subsidiaries and other investments | (306) | (887) |
Proceeds from sale of other investments | 637 | 831 |
(Increase)/decrease in loans | (10,602) | (5,208) |
Proceeds from sale of loans | 3,903 | 3,785 |
Capital expenditures for premises and equipment and other intangible assets | (529) | (473) |
Proceeds from sale of premises and equipment and other intangible assets | 29 | 1 |
Other, net | 204 | 53 |
Net cash provided by/(used in) investing activities | (7,739) | (3,947) |
Financing activities of continuing operations | ||
Increase/(decrease) in due to banks and customer deposits | 6,359 | 4,224 |
Increase/(decrease) in short-term borrowings | 4,452 | 2,717 |
Increase/(decrease) in central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (6,768) | (478) |
Issuances of long-term debt | 15,911 | 22,726 |
Repayments of long-term debt | (20,540) | (35,556) |
Issuances of common shares | 0 | 4,253 |
Sale of treasury shares | 6,175 | 5,834 |
Repurchase of treasury shares | (6,899) | (6,445) |
Dividends paid/capital repayments | (665) | (588) |
Other, net | 124 | 270 |
Net cash provided by/(used in) financing activities | (1,851) | (3,043) |
Effect of exchange rate changes on cash and due from banks | ||
Effect of exchange rate changes on cash and due from banks | 477 | (1,607) |
Net increase/(decrease) in cash and due from banks | ||
Net increase/(decrease) in cash and due from banks | 2,698 | (10,829) |
Cash and due from banks at beginning of period | 109,815 | 121,161 |
Cash and due from banks at end of period | 112,513 | 110,332 |
Cash paid for income taxes and interest | ||
Cash paid for income taxes | 382 | 382 |
Cash paid for interest | 6,352 | 5,133 |
Assets and liabilities sold in business divestitures | ||
Assets sold | 0 | 1,633 |
Liabilities sold | 0 | 1,554 |
Bank | ||
Operating activities of continuing operations | ||
Net income/(loss) | 1,258 | 766 |
Adjustments to reconcile net income/(loss) to net cash provided by/(used in) operating activities of continuing operations | ||
Impairment, depreciation and amortization | 372 | 432 |
Provision for credit losses | 121 | 135 |
Deferred tax provision/(benefit) | 325 | 67 |
Share of net income/(loss) from equity method investments | (16) | (89) |
Trading assets and liabilities, net | 24,969 | 19,358 |
(Increase)/decrease in other assets | (2,461) | (11,641) |
Increase/(decrease) in other liabilities | (10,572) | (11,035) |
Other, net | (2,211) | 809 |
Total adjustments | 10,527 | (1,964) |
Net cash provided by/(used in) operating activities | 11,785 | (1,198) |
Investing activities of continuing operations | ||
(Increase)/decrease in interest-bearing deposits with banks | (299) | 126 |
(Increase)/decrease in central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | (963) | (2,330) |
Purchase of investment securities | (379) | (44) |
Proceeds from sale of investment securities | 255 | 7 |
Maturities of investment securities | 311 | 192 |
Investments in subsidiaries and other investments | (306) | (887) |
Proceeds from sale of other investments | 642 | 831 |
(Increase)/decrease in loans | (12,018) | (5,736) |
Proceeds from sale of loans | 3,903 | 3,785 |
Capital expenditures for premises and equipment and other intangible assets | (476) | (472) |
Proceeds from sale of premises and equipment and other intangible assets | 80 | 51 |
Other, net | 204 | 53 |
Net cash provided by/(used in) investing activities | (9,046) | (4,424) |
Financing activities of continuing operations | ||
Increase/(decrease) in due to banks and customer deposits | 6,640 | 4,229 |
Increase/(decrease) in short-term borrowings | 4,460 | 2,717 |
Increase/(decrease) in central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (6,768) | (478) |
Issuances of long-term debt | 16,033 | 22,698 |
Repayments of long-term debt | (20,540) | (35,646) |
Issuances of common shares | 0 | |
Sale of treasury shares | 0 | 0 |
Repurchase of treasury shares | 0 | 0 |
Dividends paid/capital repayments | (14) | (12) |
Other, net | (910) | 3,520 |
Net cash provided by/(used in) financing activities | (1,099) | (2,972) |
Effect of exchange rate changes on cash and due from banks | ||
Effect of exchange rate changes on cash and due from banks | 486 | (2,306) |
Net increase/(decrease) in cash and due from banks | ||
Net increase/(decrease) in cash and due from banks | 2,126 | (10,900) |
Cash and due from banks at beginning of period | 109,510 | 121,066 |
Cash and due from banks at end of period | 111,636 | 110,166 |
Cash paid for income taxes and interest | ||
Cash paid for income taxes | 373 | 381 |
Cash paid for interest | 6,220 | 4,938 |
Assets and liabilities sold in business divestitures | ||
Assets sold | 0 | 1,633 |
Liabilities sold | SFr 0 | SFr 1,554 |
Summary of significant accounti
Summary of significant accounting policies | 6 Months Ended |
Jun. 30, 2018 | |
Summary of significant accounting policies | 1 Summary of significant accounting policies Basis of presentation The accompanying unaudited condensed consolidated financial statements of Credit Suisse Group AG (the Group) are prepared in accordance with accounting principles generally accepted in the US (US GAAP) and are stated in Swiss francs (CHF). These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto for the year ended December 31, 2017 included in the Credit Suisse Annual Report 2017. > Refer to “Note 1 – Summary of significant accounting policies” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2017 for a description of the Group’s significant accounting policies. Certain financial information, which is normally included in annual consolidated financial statements prepared in accordance with US GAAP, but not required for interim reporting purposes, has been condensed or omitted. Certain reclassifications have been made to the prior period’s consolidated financial statements to conform to the current period’s presentation. These condensed consolidated financial statements reflect, in the opinion of management, all adjustments that are necessary for a fair presentation of the condensed consolidated financial statements for the periods presented. The 1Q18 consolidated statements of operations and comprehensive income, the 1Q18 consolidated balance sheets and the 2Q18, 1Q18 and 2Q17 consolidated statements of changes in equity have been added for convenience of the reader and are not a required presentation under US GAAP. The results of operations for interim periods are not indicative of results for the entire year. In preparing these condensed consolidated financial statements, management is required to make estimates and assumptions which affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the condensed consolidated balance sheets and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Bank | |
Summary of significant accounting policies | 1 Summary of significant accounting policies Basis of presentation The accompanying unaudited condensed consolidated financial statements of Credit Suisse AG (the Bank), the direct bank subsidiary of Credit Suisse Group AG (Group), are prepared in accordance with accounting principles generally accepted in the US (US GAAP) and are stated in Swiss francs (CHF). These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto for the year ended December 31, 2017, included in the Credit Suisse Group AG & Credit Suisse AG Annual Report 2017 (Credit Suisse Annual Report 2017). > Refer to “Note 1 – Summary of significant accounting policies” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2017 for a description of the Bank’s significant accounting policies. Certain financial information, which is normally included in annual consolidated financial statements prepared in accordance with US GAAP, but not required for interim reporting purposes, has been condensed or omitted. Certain reclassifications have been made to the prior period’s consolidated financial statements to conform to the current period’s presentation. These condensed consolidated financial statements reflect, in the opinion of management, all adjustments that are necessary for a fair presentation of the condensed consolidated financial statements for the periods presented. The results of operations for interim periods are not indicative of results for the entire year. In preparing these condensed consolidated financial statements, management is required to make estimates and assumptions which affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the condensed consolidated balance sheets and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Recently issued accounting stan
Recently issued accounting standards | 6 Months Ended |
Jun. 30, 2018 | |
Recently issued accounting standards | 2 Recently issued accounting standards Recently adopted accounting standards The following provides the most relevant recently adopted accounting standards. > Refer to “Note 2 – Recently issued accounting standards” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2017 for a description of accounting standards adopted in 2017. ASC Topic 230 – Statement of Cash Flows In November 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-18, “Restricted Cash (a consensus of the FASB Emerging Issues Task Force)” (ASU 2016-18), an update to Accounting Standards Codification (ASC) Topic 230 – Statement of Cash Flows. ASU 2016-18 required that cash amounts described as restricted cash and cash equivalents be included in cash and cash equivalents when reconciling total amounts in the statements of cash flows. ASU 2016-18 was required to be applied retrospectively to all periods presented beginning in the year of adoption. The adoption of ASU 2016-18 on January 1, 2018 did not have an impact on the Group’s financial position, results of operations and cash flows. In August 2016, the FASB issued ASU 2016-15, “Classification of Certain Cash Receipts and Cash Payments (a consensus of the Emerging Issues Task Force)” (ASU 2016-15), an update to ASC Topic 230 – Statement of Cash Flows. The amendments in ASU 2016-15 provided guidance regarding classification of certain cash receipts and payments where diversity in practice was observed. ASU 2016-15 was required to be applied retrospectively to all periods presented beginning in the year of adoption. The adoption of ASU 2016-15 on January 1, 2018 did not have a material impact on the Group’s financial position, results of operations and cash flows and, as such, prior periods were not restated. ASC Topic 606 – Revenue from Contracts with Customers In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers” (ASU 2014-09), creating ASC Topic 606 – Revenue from Contracts with Customers and superseding ASC Topic 605 – Revenue Recognition. The core principle of the guidance was that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflected the consideration to which the entity expected to be entitled in exchange for those goods or services. ASU 2014-09 outlined key steps that an entity should follow to achieve the core principle. ASU 2014-09 also included disclosure requirements that enabled users of the financial statements to understand the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. ASU 2014-09 and its subsequent amendments were effective for the annual reporting period beginning after December 15, 2017, including interim reporting periods within that reporting period. Early adoption was permitted for annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. The Group established a cross-functional implementation team and governance structure for the project. The Group’s implementation efforts included the identification of revenue and costs within the scope of the guidance, as well as the evaluation of revenue contracts under the new guidance and related accounting policies. The guidance did not apply to revenue associated with financial instruments, including loans and securities that are accounted for under other US GAAP guidance. The Group adopted ASU 2014-09 on January 1, 2018 using the modified retrospective approach with a transition adjustment recognized in retained earnings without restating comparatives. As a result of adoption, there was a decrease in retained earnings, net of tax, of CHF 45 million due to a change in timing of the recognition of certain fees in investment banking and private banking. Additionally, the new revenue recognition criteria required the Group to present underwriting revenue, reimbursed expenses in fund management and in investment banking advisory, gross of offsetting expenses in contrast to prior periods in which the financial statements presented these amounts net of offsetting expenses; this change in presentation from net to gross would have increased the revenues and expenses in 2017 by approximately CHF 0.2 billion, which was not included in the above stated transition amount. Furthermore, with the adoption of ASU 2014-09, the brokerage, clearing and exchange expenses, which are incurred when acting as an agent on behalf of clients buying or selling exchange-traded cash securities, exchange-traded derivatives or centrally cleared over-the-counter (OTC) derivatives, are offset against the commission income. The change in presentation of brokerage, clearing and exchange expenses would have decreased the revenues and expenses in 2017 by approximately CHF 0.1 billion, which was not included in the above stated transition amount. > Refer to “Note 14 – Revenue from contracts with customers” for further information. ASC Topic 715 – Compensation – Retirement Benefits In March 2017, the FASB issued ASU 2017-07, “Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost” (ASU 2017-07), an update to ASC Topic 715 – Compensation – Retirement Benefits. The amendments in ASU 2017-07 required that the service cost component of the net periodic benefit cost be presented in the same income statement line item(s) as other employee compensation costs arising from services rendered during the period. Other components of the net periodic benefit cost should be reported separately from the line item(s) that included the service cost and outside of any subtotal of operating income. ASU 2017-07 was required to be applied retrospectively to all periods presented beginning in the year of adoption. The adoption of ASU 2017-07 on January 1, 2018 resulted in a restatement that, upon adoption, increased compensation and benefits expenses and decreased general and administrative expenses by CHF 190 million and CHF 80 million as of December 31, 2017 and 2016, respectively. ASC Topic 825 – Financial Instruments – Overall In January 2016, the FASB issued ASU 2016-01, “Recognition and Measurement of Financial Assets and Financial Liabilities” (ASU 2016-01), an update to ASC Topic 825 – Financial Instruments – Overall. The amendments in ASU 2016-01 addressed certain aspects of recognition, measurement, presentation and disclosure of financial instruments. The amendments primarily affected the accounting for equity investments, financial liabilities under the fair value option and the presentation and disclosure requirements for financial instruments. Early adoption of the full standard was not permitted; however, certain sections of ASU 2016-01 relating to fair value option-elected financial liabilities could be early adopted in isolation. The amendments to ASU 2016-01 required the changes in fair value relating to instrument-specific credit risk of fair value option elected financial liabilities to be presented separately in accumulated other comprehensive income (AOCI). The Group early adopted these sections of the update on January 1, 2016. As a result of the adoption, the Group reclassified CHF 475 million, net of tax, from retained earnings to AOCI. The adoption of the remaining amendments to ASU 2016-01, on January 1, 2018 resulted in a reclassification of unrealized gains and losses previously reported in AOCI for available-for-sale equity securities to retained earnings of CHF 21 million, net of tax. ASU 2016-01 also required that certain equity instruments without readily determinable fair value be measured at fair value, excluding instances in which measurement alternative is applied; however, this requirement did not have a material impact on the Group’s financial position, results of operations or cash flows. Standards to be adopted in future periods ASC Topic 220 – Income Statements – Reporting Comprehensive Income In January 2018, the FASB issued ASU 2018-02, “Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income” (ASU 2018-02), an update to ASC Topic 220 – Income Statement – Reporting Comprehensive Income. The amendments in ASU 2018-02 allow a reclassification from AOCI to retained earnings for the stranded tax effects resulting from the US Tax Cuts and Jobs Act of 2017. ASU 2018-02 is effective for annual reporting periods and interim periods within those periods beginning after December 15, 2018. Early adoption is permitted in any period for which financial statements have not yet been issued. The Group may elect to apply the amendments to ASU 2018-02 to the beginning of the period (annual or interim) of adoption or retrospectively for each period in which the tax effects of the US Tax Cuts and Jobs Act of 2017 related to items remaining in AOCI are recognized. The Group is currently evaluating the impact of the adoption of ASU 2018-02 on the Group’s financial position, results of operations and cash flows. ASC Topic 326 – Financial Instruments – Credit Losses In June 2016, the FASB issued ASU 2016-13, “Measurement of Credit Losses on Financial Instruments” (ASU 2016-13), creating ASC Topic 326 – Financial Instruments – Credit Losses. ASU 2016-13 is intended to improve financial reporting by requiring timelier recording of credit losses on financial assets measured at amortized cost basis including, but not limited to loans, net investments in leases recognized as lessor and off-balance sheet credit exposures. ASU 2016-13 eliminates the probable initial recognition threshold under the current incurred loss methodology for recognizing credit losses. Instead, ASU 2016-13 requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions and reasonable and supportable forecasts. The Group will incorporate forward-looking information and macroeconomic factors into its credit loss estimates. ASU 2016-13 requires enhanced disclosures to help investors and other financial statement users to better understand significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an organization’s portfolio. As the Group is an SEC- filer, ASU 2016-13 is effective for annual reporting periods beginning after December 15, 2019, including interim periods within those annual reporting periods. Early adoption will be permitted for annual reporting periods, including interim periods within those annual reporting periods, beginning after December 15, 2018; however, the Group does not intend to early adopt ASU 2016-13. The Group has established a cross-functional implementation team and governance structure for the project. The Group has decided on a CECL methodology while it is adjusting for key interpretive issues. Furthermore, the Group will continue to monitor the scope assessment, as a basis to determine the requirements and data sourcing of the CECL models, and to design, build and test the models until the effective date. The Group expects that the new CECL methodology would generally result in increased and more volatile allowance for loan losses. The main impact drivers include: – – – Upon adoption of the standard, the Group expects a cumulative adjustment to be posted to retained earnings for any changes in loan losses. As the implementation progresses, the Group will continue to evaluate the extent of the impact of the adoption of ASU 2016-13 on the Group’s financial position, results of operations and cash flows. ASC Topic 815 – Derivatives and Hedging In August 2017, the FASB issued ASU 2017-12, “Targeted Improvements to Accounting for Hedging Activities” (ASU 2017-12), an update to ASC Topic 815 – Derivatives and Hedging. ASU 2017-12 makes changes to the hedge accounting model intended to facilitate financial reporting that more closely reflects an entity’s risk management activities and to simplify application of hedge accounting. The amendments in ASU 2017-12 provide more hedging strategies that will be eligible for hedge accounting, ease the documentation and effectiveness assessment requirements and result in changes to the presentation and disclosure requirements of hedge accounting activities. ASU 2017-12 is effective for annual reporting periods beginning after December 15, 2018, and for the interim periods within those annual reporting periods. Early adoption, including adoption in an interim period, is permitted. The Group is currently evaluating the impact of the adoption of ASU 2017-12 on the Group’s financial position, results of operations and cash flows. ASC Topic 842 – Leases In February 2016, the FASB issued ASU 2016-02, “Leases” (ASU 2016-02), creating ASC Topic 842 – Leases and superseding ASC Topic 840 – Leases. ASU 2016-02 sets out the principles for the recognition, measurement, presentation and disclosure of leases for both lessees and lessors. ASU 2016-02 also includes disclosure requirements to provide more information about the amount, timing and uncertainty of cash flows arising from leases. Lessor accounting is substantially unchanged compared to the current accounting guidance. Under the current lessee accounting model the Group is required to distinguish between finance leases, which are recognized on the balance sheet, and operating leases, which are not. ASU 2016-02 will require lessees to present a right-of-use asset and a corresponding lease liability on the balance sheet. ASU 2016-02 and its subsequent amendments are effective for annual reporting periods beginning after December 15, 2018, and for the interim periods within those annual reporting periods. Early adoption is permitted; however, the Group does not intend to early adopt ASU 2016-02. The Group has established a cross-functional implementation team and governance structure for the project. The Group is currently reviewing its existing contracts to determine the impact of the adoption of ASU 2016-02. The Group expects an increase in total assets and total liabilities as a result of recognizing right-of-use assets and lease liabilities for all leases under the new guidance. The Group does not expect a material change to the timing of expense recognition and is currently evaluating the impact of the adoption of ASU 2016-02 on the Group’s financial position, results of operations and cash flows. |
Bank | |
Recently issued accounting standards | 2 Recently issued accounting standards > Refer to “Note 2 – Recently issued accounting standards” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2017 for a description of accounting standards adopted in 2017. > Refer to “Note 2 – Recently issued accounting standards” in III – Condensed consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q18 for the most recently adopted accounting standards and standards to be adopted in future periods. The impact on the Bank’s and Group’s financial condition, results of operations or cash flows was or is expected to be identical. |
Business developments
Business developments | 6 Months Ended |
Jun. 30, 2018 | |
Business developments | 3 Business developments and subsequent events There were no significant business developments or subsequent events in 2Q18. |
Bank | |
Business developments | 3 Business developments and subsequent events There were no significant business developments or subsequent events in 6M18. |
Segment information
Segment information | 6 Months Ended |
Jun. 30, 2018 | |
Segment information | 4 Segment information The Group is a global financial services company domiciled in Switzerland and serves its clients through three regionally focused divisions: Swiss Universal Bank, International Wealth Management and Asia Pacific. These regional businesses are supported by two other divisions specialized in investment banking capabilities: Global Markets and Investment Banking & Capital Markets. The Strategic Resolution Unit consolidates the remaining portfolios from the former non-strategic units plus additional businesses and positions that do not fit with the strategic direction. The segment information reflects the Group’s six reportable segments and the Corporate Center, which are managed and reported on a pre-tax basis. > Refer to “Note 4 – Segment information” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2017 for further information on segment information, revenue sharing and cost allocation and funding. Net revenues and income/(loss) before taxes in 2Q18 1Q18 2Q17 6M18 6M17 Net revenues (CHF million) Swiss Universal Bank 1,419 1,431 1,405 2,850 2,759 International Wealth Management 1,344 1,403 1,264 2,747 2,485 Asia Pacific 914 991 848 1,905 1,729 Global Markets 1,426 1,546 1,517 2,972 3,126 Investment Banking & Capital Markets 644 528 511 1,172 1,117 Strategic Resolution Unit (176) (203) (274) (379) (480) Corporate Center 24 (60) (66) (36) 3 Net revenues 5,595 5,636 5,205 11,231 10,739 Income/(loss) before taxes (CHF million) Swiss Universal Bank 553 563 502 1,116 906 International Wealth Management 433 484 365 917 656 Asia Pacific 217 234 188 451 335 Global Markets 148 295 257 443 574 Investment Banking & Capital Markets 110 59 78 169 227 Strategic Resolution Unit (368) (409) (563) (777) (1,102) Corporate Center (41) (172) (245) (213) (344) Income/(loss) before taxes 1,052 1,054 582 2,106 1,252 Total assets end of 2Q18 1Q18 4Q17 Total assets (CHF million) Swiss Universal Bank 220,030 217,179 228,857 International Wealth Management 92,622 89,313 94,753 Asia Pacific 109,336 107,851 96,497 Global Markets 228,941 239,432 242,159 Investment Banking & Capital Markets 18,546 15,380 20,803 Strategic Resolution Unit 27,439 30,163 45,629 Corporate Center 101,244 109,734 67,591 Total assets 798,158 809,052 796,289 |
Bank | |
Segment information | 4 Segment information > Refer to “Note 4 – Segment information” in III – Condensed consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q18 for further information. For the purpose of presentation of reportable segments, the Bank has included accounts of affiliate entities wholly owned by the same parent which are managed together with the operating segments of the Bank. Net revenues and income before taxes in 6M18 6M17 Net revenues (CHF million) Swiss Universal Bank 2,850 2,759 International Wealth Management 2,747 2,485 Asia Pacific 1,905 1,729 Global Markets 2,972 3,126 Investment Banking & Capital Markets 1,172 1,117 Strategic Resolution Unit (379) (480) Adjustments 1 (71) 4 Net revenues 11,196 10,740 Income/(loss) before taxes (CHF million) Swiss Universal Bank 1,116 906 International Wealth Management 917 656 Asia Pacific 451 335 Global Markets 443 574 Investment Banking & Capital Markets 169 227 Strategic Resolution Unit (777) (1,102) Adjustments 1 (432) (444) Income before taxes 1,887 1,152 1 Adjustments represent certain consolidating entries and balances, including those relating to items that are managed but are not legally owned by the Bank and vice versa, and certain expenses that were not allocated to the segments. Total assets end of 6M18 2017 Total assets (CHF million) Swiss Universal Bank 220,030 228,857 International Wealth Management 92,622 94,753 Asia Pacific 109,336 96,497 Global Markets 228,941 242,159 Investment Banking & Capital Markets 18,546 20,803 Strategic Resolution Unit 27,439 45,629 Adjustments 1 103,714 69,674 Total assets 800,628 798,372 1 Adjustments represent certain consolidating entries and balances, including those relating to items that are managed but are not legally owned by the Bank and vice versa, and certain expenses that were not allocated to the segments. |
Net interest income
Net interest income | 6 Months Ended |
Jun. 30, 2018 | |
Net interest income | 5 Net interest income in 2Q18 1Q18 2Q17 6M18 6M17 Net interest income (CHF million) Loans 1,679 1,603 1,447 3,282 2,907 Investment securities 20 10 12 30 23 Trading assets 1,968 1,572 2,040 3,540 3,658 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 706 657 632 1,363 1,239 Other 717 609 471 1,326 817 Interest and dividend income 5,090 4,451 4,602 9,541 8,644 Deposits (587) (450) (328) (1,037) (633) Short-term borrowings (123) (82) (40) (205) (73) Trading liabilities (1,144) (860) (1,178) (2,004) (1,966) Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions (477) (399) (324) (876) (577) Long-term debt (982) (910) (893) (1,892) (1,846) Other (184) (165) (102) (349) (179) Interest expense (3,497) (2,866) (2,865) (6,363) (5,274) Net interest income 1,593 1,585 1,737 3,178 3,370 |
Bank | |
Net interest income | 5 Net interest income in 6M18 6M17 Net interest income (CHF million) Loans 3,285 2,907 Investment securities 30 23 Trading assets 3,540 3,659 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 1,363 1,239 Other 1,328 817 Interest and dividend income 9,546 8,645 Deposits (1,038) (638) Short-term borrowings (210) (73) Trading liabilities (2,004) (1,969) Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions (876) (577) Long-term debt (1,828) (1,771) Other (347) (177) Interest expense (6,303) (5,205) Net interest income 3,243 3,440 |
Commissions and fees
Commissions and fees | 6 Months Ended |
Jun. 30, 2018 | |
Commissions and fees | 6 Commissions and fees in 2Q18 1Q18 2Q17 6M18 6M17 Commissions and fees (CHF million) Lending business 529 470 484 999 948 Investment and portfolio management 896 892 841 1,788 1,663 Other securities business 11 12 12 23 22 Fiduciary business 907 904 853 1,811 1,685 Underwriting 513 470 441 983 938 Brokerage 745 810 757 1,555 1,562 Underwriting and brokerage 1,258 1,280 1,198 2,538 2,500 Other services 465 392 370 857 818 Commissions and fees 3,159 3,046 2,905 6,205 5,951 |
Bank | |
Commissions and fees | 6 Commissions and fees in 6M18 6M17 Commissions and fees (CHF million) Lending business 984 933 Investment and portfolio management 1,693 1,566 Other securities business 44 39 Fiduciary business 1,737 1,605 Underwriting 983 948 Brokerage 1,556 1,562 Underwriting and brokerage 2,539 2,510 Other services 866 826 Commissions and fees 6,126 5,874 |
Trading revenues
Trading revenues | 6 Months Ended |
Jun. 30, 2018 | |
Trading revenues | 7 Trading revenues in 2Q18 1Q18 2Q17 6M18 6M17 Trading revenues (CHF million) Interest rate products (301) 857 587 556 1,963 Foreign exchange products (31) 184 703 153 1,237 Equity/index-related products 723 (327) (953) 396 (1,871) Credit products 65 34 (143) 99 (581) Commodity and energy products 13 26 28 39 65 Other products 59 (196) 15 (137) (2) Trading revenues 528 578 237 1,106 811 Represents revenues on a product basis which are not representative of business results within segments, as segment results utilize financial instruments across various product types. > Refer to “Note 7 – Trading revenues” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2017 for further information on trading revenues and managing trading risks. |
Bank | |
Trading revenues | 7 Trading revenues in 6M18 6M17 Trading revenues (CHF million) Interest rate products 559 1,955 Foreign exchange products 152 1,238 Equity/index-related products 336 (1,901) Credit products 99 (581) Commodity and energy products 39 65 Other products (137) (2) Total 1,048 774 Represents revenues on a product basis which are not representative of business results within segments, as segment results utilize financial instruments across various product types. |
Other revenues
Other revenues | 6 Months Ended |
Jun. 30, 2018 | |
Other revenues | 8 Other revenues in 2Q18 1Q18 2Q17 6M18 6M17 Other revenues (CHF million) Noncontrolling interests without SEI 0 (1) 0 (1) (1) Loans held-for-sale 1 10 1 11 0 Long-lived assets held-for-sale 0 16 (4) 16 (11) Equity method investments 52 69 65 121 106 Other investments 61 128 30 189 77 Other 201 205 234 406 436 Other revenues 315 427 326 742 607 |
Bank | |
Other revenues | 8 Other revenues in 6M18 6M17 Other revenues (CHF million) Loans held-for-sale 11 0 Long-lived assets held-for-sale 16 (11) Equity method investments 119 104 Other investments 188 76 Other 445 483 Other revenues 779 652 |
Provision for credit losses
Provision for credit losses | 6 Months Ended |
Jun. 30, 2018 | |
Provision for credit losses | 9 Provision for credit losses in 2Q18 1Q18 2Q17 6M18 6M17 Provision for credit losses (CHF million) Provision for loan losses 60 36 70 96 136 Provision for lending-related and other exposures 13 12 12 25 (1) Provision for credit losses 73 48 82 121 135 |
Bank | |
Provision for credit losses | 9 Provision for credit losses in 6M18 6M17 Provision for credit losses (CHF million) Provision for loan losses 96 136 Provision for lending-related and other exposures 25 (1) Provision for credit losses 121 135 |
Compensation and benefits
Compensation and benefits | 6 Months Ended |
Jun. 30, 2018 | |
Compensation and benefits | 10 Compensation and benefits in 2Q18 1Q18 2Q17 6M18 6M17 Compensation and benefits (CHF million) Salaries and variable compensation 2,148 2,189 2,196 4,337 4,542 Social security 200 160 204 360 360 Other 1 199 189 195 388 398 Compensation and benefits 2,547 2,538 2,595 5,085 5,300 1 Includes pension-related expenses of CHF 108 million, CHF 107 million, CHF 106 million, CHF 215 million and CHF 217 million in 2Q18, 1Q18, 2Q17, 6M18 and 6M17, respectively, relating to service costs for defined benefit pension plans and employer contributions for defined contribution pension plans. |
Bank | |
Compensation and benefits | 10 Compensation and benefits in 6M18 6M17 Compensation and benefits (CHF million) Salaries and variable compensation 3,943 4,461 Social security 315 353 Other 443 1 474 Compensation and benefits 4,701 5,288 1 Includes pension-related expenses of CHF 278 million in 6M18 relating to service costs for defined benefit pension plans and employer contributions for defined contribution pension plans. |
General and administrative expe
General and administrative expenses | 6 Months Ended |
Jun. 30, 2018 | |
General and administrative expenses | 11 General and administrative expenses in 2Q18 1Q18 2Q17 6M18 6M17 General and administrative expenses (CHF million) Occupancy expenses 248 240 246 488 489 IT, machinery, etc. 273 277 259 550 540 Provisions and losses 97 140 80 237 225 Travel and entertainment 83 94 80 177 163 Professional services 428 483 592 911 1,191 Amortization and impairment of other intangible assets 2 3 2 5 5 Other 1 289 271 268 560 515 General and administrative expenses 1,420 1,508 1,527 2,928 3,128 1 Includes pension-related expenses/(credits) of CHF (52) million, CHF (53) million, CHF (53) million, CHF (105) million and CHF (100) million in 2Q18, 1Q18, 2Q17, 6M18 and 6M17, respectively, relating to certain components of net periodic benefit costs for defined benefit plans. |
Bank | |
General and administrative expenses | 11 General and administrative expenses in 6M18 6M17 General and administrative expenses (CHF million) Occupancy expenses 435 487 IT, machinery, etc. 428 534 Provisions and losses 237 225 Travel and entertainment 164 157 Professional services 1,490 1,175 Amortization and impairment of other intangible assets 5 5 Other 799 1 709 General and administrative expenses 3,558 3,292 1 Includes pension-related expenses/(credits) of CHF 15 million in 6M18 relating to certain components of net periodic benefit costs for defined benefit plans. |
Restructuring expenses
Restructuring expenses | 6 Months Ended |
Jun. 30, 2018 | |
Restructuring, Impairment, and Other Activities Disclosure [Text Block] | 12 Restructuring expenses In connection with the ongoing implementation of the revised Group strategy, restructuring expenses of CHF 175 million, CHF 144 million, CHF 69 million, CHF 319 million and CHF 206 million were recognized in 2Q18, 1Q18, 2Q17, 6M18 and 6M17, respectively. Restructuring expenses primarily include termination costs, expenses in connection with the acceleration of certain deferred compensation awards and real estate contract termination costs. Restructuring expenses by segment in 2Q18 1Q18 2Q17 6M18 6M17 Restructuring expenses by segment (CHF million) Swiss Universal Bank 27 28 (4) 55 48 International Wealth Management 28 26 7 54 43 Asia Pacific 20 6 11 26 30 Global Markets 56 42 32 98 52 Investment Banking & Capital Markets 31 30 10 61 12 Strategic Resolution Unit 13 11 11 24 18 Corporate Center 0 1 2 1 3 Total restructuring expenses 175 144 69 319 206 Restructuring expenses by type in 2Q18 1Q18 2Q17 6M18 6M17 Restructuring expenses by type (CHF million) Compensation and benefits-related expenses 85 103 41 188 128 of which severance expenses 58 69 24 127 86 of which accelerated deferred compensation 27 34 17 61 42 General and administrative-related expenses 90 41 28 131 78 of which pension expenses 25 27 9 52 51 Total restructuring expenses 175 144 69 319 206 Restructuring provision 2Q18 1Q18 2Q17 Compen- General and Compen- General and Compen- General and Restructuring provision (CHF million) Balance at beginning of period 204 108 312 196 110 306 220 89 309 Net additional charges 1 58 61 119 69 14 83 24 9 33 Utilization (70) (32) (102) (61) (16) (77) (63) (15) (78) Balance at end of period 192 137 329 204 108 312 181 83 264 1 The following items for which expense accretion was accelerated in 2Q18, 1Q18 and 2Q17 due to the restructuring of the Group are not included in the restructuring provision: unsettled share-based compensation of CHF 20 million, CHF 26 million and CHF 12 million, respectively, which remain classified as a component of total shareholders’ equity; unsettled pension obligations of CHF 25 million, CHF 27 million and CHF 9 million, respectively, which remain classified as pension liabilities; unsettled cash-based deferred compensation of CHF 7 million, CHF 8 million and CHF 5 million, respectively, which remain classified as compensation liabilities; and accelerated accumulated depreciation and impairment of CHF 4 million, CHF 0 million and CHF 10 million, respectively, which remain classified as premises and equipment. The settlement date for the unsettled share-based compensation remains unchanged at three years. Restructuring provision (continued) in 6M18 6M17 Compen- General and Compen- General and Restructuring provision (CHF million) Balance at beginning of period 196 110 306 217 94 311 Net additional charges 1 127 75 202 86 17 103 Utilization (131) (48) (179) (122) (28) (150) Balance at end of period 192 137 329 181 83 264 1 The following items for which expense accretion was accelerated in 6M18 and 6M17 due to the restructuring of the Group are not included in the restructuring provision: unsettled share-based compensation of CHF 46 million and CHF 27 million, respectively, which remain classified as a component of total shareholders’ equity; unsettled pension obligations of CHF 52 million and CHF 51 million, respectively, which remain classified as pension liabilities; unsettled cash-based deferred compensation of CHF 15 million and CHF 15 million, respectively, which remain classified as compensation liabilities; and accelerated accumulated depreciation and impairment of CHF 4 million and CHF 10 million, respectively, which remain classified as premises and equipment. The settlement date for the unsettled share-based compensation remains unchanged at three years. |
Bank | |
Restructuring, Impairment, and Other Activities Disclosure [Text Block] | 12 Restructuring expenses In connection with the ongoing implementation of the revised Bank strategy, restructuring expenses of CHF 257 million and CHF 155 million were recognized in 6M18 and 6M17, respectively. Restructuring expenses primarily include termination costs, expenses in connection with the acceleration of certain deferred compensation awards and real estate contract termination costs. Restructuring expenses by segment in 6M18 6M17 Restructuring expenses by segment (CHF million) Swiss Universal Bank 55 48 International Wealth Management 54 43 Asia Pacific 26 30 Global Markets 98 52 Investment Banking & Capital Markets 61 12 Strategic Resolution Unit 24 18 Corporate Center 1 3 Adjustments 1 (62) (51) Total restructuring expenses 257 155 1 Adjustments represent certain consolidating entries and balances, including those relating to items that are managed but are not legally owned by the Bank and vice versa. Restructuring expenses by type in 6M18 6M17 Restructuring expenses by type (CHF million) Compensation and benefits-related expenses 180 128 of which severance expenses 119 86 of which accelerated deferred compensation 61 42 General and administrative-related expenses 77 27 Total restructuring expenses 257 155 Restructuring provision in 6M18 6M17 Compen- General and Compen- General and Restructuring provision (CHF million) Balance at beginning of period 191 110 301 217 94 311 Net additional charges 1 119 73 192 86 17 103 Utilization (123) (46) (169) (122) (28) (150) Balance at end of period 187 137 324 181 83 264 1 The following items for which expense accretion was accelerated in 6M18 and 6M17 due to the restructuring of the Bank are not included in the restructuring provision: unsettled share-based compensation of CHF 46 million and CHF 27 million, respectively; unsettled cash-based deferred compensation of CHF 15 million and CHF 15 million, respectively, which remain classified as compensation liabilities; and accelerated accumulated depreciation and impairment of CHF 4 million and CHF 10 million, respectively, which remain classified as premises and equipment. The settlement date for the unsettled share-based compensation remains unchanged at three years. |
Earnings per share
Earnings per share | 6 Months Ended |
Jun. 30, 2018 | |
Earnings per share | 13 Earnings per share in 2Q18 1Q18 2Q17 6M18 6M17 Basic net income/(loss) attributable to shareholders (CHF million) Net income attributable to shareholders for basic earnings per share 647 694 303 1,341 899 Diluted net income/(loss) attributable to shareholders (CHF million) Net income attributable to shareholders for diluted earnings per share 647 694 303 1,341 899 Weighted-average shares outstanding (million) Weighted-average shares outstanding for basic earnings per share available for common shares 2,581.9 2,586.4 2,309.6 2,584.1 2,261.9 Dilutive share options and warrants 3.3 2.2 4.2 2.8 4.0 Dilutive share awards 44.9 65.1 40.3 55.0 47.7 Weighted-average shares outstanding for diluted earnings per share available for common shares 1 2,630.1 2,653.7 2,354.1 2,641.9 2,313.6 Earnings/(loss) per share available for common shares (CHF) Basic earnings per share available for common shares 0.25 0.27 0.13 0.52 0.40 Diluted earnings per share available for common shares 0.25 0.26 0.13 0.51 0.39 1 Weighted-average potential common shares relating to instruments that were not dilutive for the respective periods (and therefore not included in the diluted earnings per share calculation above) but could potentially dilute earnings per share in the future were 9.1 million, 11.6 million, 10.4 million, 10.4 million and 9.1 million for 2Q18, 1Q18, 2Q17, 6M18 and 6M17, respectively. |
Revenue from contracts with cus
Revenue from contracts with customers | 6 Months Ended |
Jun. 30, 2018 | |
Revenue from Contract with Customer [Text Block] | 14 Revenue from contracts with customers Revenue is measured based on the consideration specified in a contract with a customer, and excludes any amounts collected on behalf of third parties. Taxes assessed by a governmental authority that are collected by the Group from a customer and both imposed on and concurrent with a specific revenue-producing transaction are excluded from revenue. The Group recognizes revenue when it satisfies a contractual performance obligation. Variable consideration is only included in the transaction price once it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the amount of variable consideration is subsequently resolved. Generally no significant judgement is required with respect to recording variable consideration. If a fee is a fixed percentage of a variable account value at contract inception, recognition of the fee revenue is constrained as the contractual consideration is highly susceptible to change due to factors outside of the Group’s influence. However, at each performance measurement period end (e.g., end-of-day, end-of-month, end-of-quarter), recognition of the cumulative amount of the consideration to which the Group is entitled is no longer constrained because it is calculated based on a known account value and the fee revenue is no longer variable. Nature of services The following is a description of the principal activities from which the Group generates its revenues from contracts with customers. The performance obligations are typically satisfied as the services in the contract are rendered. The contract terms are generally such that they do not result in any contract assets. The contracts generally do not include a significant financing component or obligations for refunds or other similar obligations. Any variable consideration included in the transaction price is only recognized when the uncertainty of the amount is resolved and it is probable that a significant reversal of cumulative revenue recognized will not occur. Credit Suisse’s wealth management businesses provide investment services and solutions for clients, including asset management, investment advisory and investment management, wealth planning, and origination and structuring of sophisticated financing transactions for clients. The Group receives for these services investment advisory and investment management fees which are generally reflected in the line item ‘Investment and portfolio management’ in the table “Contracts with customers and disaggregation of revenues” below. Generally, the fee for the service provided is recognized over the period of time the service is provided. The wealth management businesses also provide comprehensive advisory services and tailored investment and financing solutions to private, corporate and institutional clients. The nature of the services range from investment and wealth management activities, which are services rendered over a period of time according to the contract with the customer, to more transaction-specific services such as brokerage and sales and trading services and the offer of client-tailored financing products. The services are provided as requested by Credit Suisse’s clients, and the fee for the service requested is recognized once the service is provided. The Group’s asset management businesses offer investment solutions and services globally to a broad range of clients, including pension funds, governments, foundations and endowments, corporations and individuals. Fund managers typically enter into a variety of contracts to provide investment management and other services. A fund manager may satisfy its performance obligation independently or may engage a third party to satisfy some or all of a performance obligation on the fund manager’s behalf. Although the fund manager may have engaged a third party to provide inputs to the overall investment management services, the contractual obligation to provide investment management services to a customer remains the primary responsibility of the fund manager. As such, the fund manager is acting as a principal in the transaction. As a fund manager, the Group typically receives base management fees and may additionally receive performance-based management fees which are both recognized as ‘Investment and portfolio management’ revenues in the table “Contracts with customers and disaggregation of revenues” below. Base management fees are generally calculated based on the net asset value (NAV) of the customer’s investment, which can change during the performance period. Performance-based management fees are variable consideration received by the Group depending on the financial performance of the underlying fund. As both the base management fees and performance-based management fees are variable, the Group recognizes the fees once it is probable that a significant reversal of the revenue recognized will not occur and when the uncertainty of the amount is resolved. The estimate of these variable fees is constrained until the end of the performance measurement period. Generally, the uncertainty is resolved at the end of the performance measurement period and therefore no significant judgement is necessary when recording variable consideration. Under a claw-back obligation provision, a fund manager may be required to return certain distributions received from a fund if a specific performance threshold, i.e., benchmark, is not achieved at the end of the lifetime of the fund. The contractual claw-back obligation is an additional factor of uncertainty which is considered in the constraint assessment. If the performance-based management fee is earned but the claw-back provision has not lapsed, the claw-back obligation is accounted for as a refund liability. The Group’s capital markets businesses underwrite and sell securities on behalf of customers. Typically, the fees in these businesses are recognized at a single point in time once the transaction is complete, i.e., when the securities have been placed with investors, and recognized as underwriting revenue. All expenses incurred in satisfying the performance obligation are deferred and recognized once the transaction is complete. Generally Credit Suisse and other banks form a syndicate group to underwrite and place the securities for a customer. The Group may act as the lead or a participating member in the syndicate group. Each member of the syndicate group, including the lead and participating underwriters, is acting as principal for their proportionate share of the syndication. As a result, the individual underwriters reflect their proportionate share of underwriting revenue and underwriting costs on a gross basis. The Group also offers brokerage services in its investment banking businesses, including global securities sales, trading and execution, prime brokerage and investment research. For the services provided, for example the execution of client trades in securities or derivatives, the Group typically earns a brokerage commission when the trade is executed. The Group generally acts as an agent when buying or selling exchange-traded cash securities, exchange-traded derivatives or centrally cleared OTC derivatives on behalf of clients. Credit Suisse’s investment banking businesses provide services that include advisory services to clients in connection with corporate finance activities. The term ‘advisory’ includes any type of service the Group provides in an advisory capacity. For these types of services, the Group typically receives a non-refundable retainer fee and/or a success fee which usually represents a percentage of the transaction proceeds if and when the corporate finance activity is completed. Additionally, the contract may contain a milestone fee such as an ‘announcement fee’ that is payable upon the public announcement of the corporate finance activity. Typically the fees in the investment banking business are recognized at a specific point in time once it is determined that the performance obligation related to the transaction has been completed. A contract liability will be recorded if the Group receives a payment such as a retainer fee or announcement fee for an advisory service prior to satisfying the performance obligation. Advisory fees are recognized ratably over time in scenarios where the contracted service of the Group is to act as an advisor over a specified period not related to or dependent on the successful completion of a transaction. Revenues recognized from these services are reflected in the line item ‘Other Services’ in the table below. Contracts with customers and disaggregation of revenues in 2Q18 1Q18 Contracts with customers (CHF million) Investment and portfolio management 896 892 Other securities business 11 12 Underwriting 513 470 Brokerage 749 810 Other services 471 487 Total revenues from contracts with customers 2,640 2,671 The table above differs from “Note 6 – Commissions and fees” as it includes only those contracts with customers that are in scope of ASC Topic 606 – Revenue from Contracts with Customers. Contract balances end of / in 2Q18 1Q18 Contract balances (CHF million) Contract receivables 838 758 Contract liabilities 63 67 Revenue recognized in the reporting period included in the contract liabilities balance at the beginning of period 13 13 The Group did not recognize any revenues in the reporting period from performance obligations satisfied in previous periods. In 2Q18 we recognized a net impairment loss on contract receivables of CHF 3 million. No impairment losses were recognized on contract receivables in 1Q18. The Group did not recognize any contract assets during 2Q18 and 1Q18. Capitalized costs The Group has not incurred costs in obtaining a contract nor costs to fulfill a contract that are eligible for capitalization. Remaining performance obligations ASC Topic 606’s practical expedient allows the Group to exclude from its remaining performance obligations disclosure of any performance obligations which are part of a contract with an original expected duration of one year or less. Additionally any variable consideration, for which it is probable that a significant reversal in the amount of cumulative revenue recognized will occur when the uncertainty associated with the variable consideration is subsequently resolved, is not subject to the remaining performance obligations disclosure because such variable consideration is not included in the transaction price (e.g., investment management fees). Upon review, the Group determined that no material remaining performance obligations are in scope of the remaining performance obligations disclosure. Impact of the adoption of ASC Topic 606 The impact of adoption of ASC Topic 606 on the Group’s consolidated statement of operations resulted in increases in commissions and fees revenues of CHF 23 million and CHF 20 million, increases in general and administrative expenses of CHF 48 million and CHF 40 million and decreases in commission expenses of CHF 29 million and CHF 22 million for 2Q18 and 1Q18, respectively. The impact of the adoption did not have a material impact on the Group’s consolidated balance sheet or the Group’s consolidated statement of cash flows in 2Q18 and 1Q18. |
Bank | |
Revenue from Contract with Customer [Text Block] | 13 Revenue from contracts with customers > Refer to “Note 14 – Revenue from contracts with customers” in III – Condensed consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q18 for further information. Contracts with customers and disaggregation of revenues in 2Q18 1Q18 Contracts with customers (CHF million) Investment and portfolio management 850 843 Other securities business 21 23 Underwriting 513 470 Brokerage 748 812 Other services 476 490 Total revenues from contracts with customers 2,608 2,638 The table above differs from “Note 6 – Commissions and fees” as it includes only those contracts with customers that are in scope of ASC Topic 606 – Revenue from Contracts with Customers. Contract balances in / end of 2Q18 1Q18 Contract balances (CHF million) Contract receivables 824 745 Contract liabilities 63 67 Revenue recognized in the reporting period included in the contract liabilities balance at the beginning of period 13 13 The Bank did not recognize any revenues in the reporting period from performance obligations satisfied in previous periods. In 2Q18 we recognized a net impairment loss on contract receivables of CHF 3 million. No impairment losses were recognized on contract receivables in 1Q18. The Bank did not recognize any contract assets during the reporting period. The contract liabilities increased in 1Q18 from CHF 15 million to CHF 67 million, mainly due to the transition adjustment of CHF 56 million (CHF 45 million, net of tax) recorded as a result of the adoption of ASC Topic 606. There were no significant changes in 2Q18. Capitalized costs The Bank has not incurred costs in obtaining a contract nor costs to fulfill a contract that are eligible for capitalization. Remaining performance obligations ASC Topic 606’s practical expedient allows the Bank to exclude from its remaining performance obligations disclosure of any performance obligations which are part of a contract with an original expected duration of one year or less. Additionally any variable consideration, for which it is probable that a significant reversal in the amount of cumulative revenue recognized will occur when the uncertainty associated with the variable consideration is subsequently resolved, is not subject to the remaining performance obligations disclosure because such variable consideration is not included in the transaction price (e.g., investment management fees). Upon review, the Bank determined that no material remaining performance obligations are in scope of the remaining performance obligations disclosure. Impact of the adoption of ASC Topic 606 The impact of adoption of ASC Topic 606 on the Bank’s consolidated statement of operations resulted in increases in commissions and fees revenues of CHF 23 million and CHF 20 million, increases in other revenues of CHF 6 million and CHF 5 million, increases in general and administrative expenses of CHF 54 million and CHF 45 million and decreases in commission expenses of CHF 29 million and CHF 22 million for 2Q18 and 1Q18, respectively. The impact of the adoption did not have a material impact on the Bank’s consolidated balance sheet or the Bank’s consolidated statement of cash flows in 2Q18 and 1Q18. |
Trading assets and liabilities
Trading assets and liabilities | 6 Months Ended |
Jun. 30, 2018 | |
Trading assets and liabilities | 15 Trading assets and liabilities end of 2Q18 1Q18 4Q17 Trading assets (CHF million) Debt securities 67,595 68,380 72,765 Equity securities 43,754 46,595 55,722 Derivative instruments 1 19,564 20,400 19,621 Other 4,673 4,826 8,226 Trading assets 135,586 140,201 156,334 Trading liabilities (CHF million) Short positions 27,594 29,820 24,465 Derivative instruments 1 15,182 14,935 14,654 Trading liabilities 42,776 44,755 39,119 1 Amounts shown after counterparty and cash collateral netting. Cash collateral on derivative instruments end of 2Q18 1Q18 4Q17 Cash collateral – netted (CHF million) 1 Cash collateral paid 21,195 22,022 23,288 Cash collateral received 14,376 14,165 14,996 Cash collateral – not netted (CHF million) 2 Cash collateral paid 7,488 6,330 5,141 Cash collateral received 8,761 8,749 8,644 1 Recorded as cash collateral netting on derivative instruments in Note 23 – Offsetting of financial assets and financial liabilities. 2 Recorded as cash collateral on derivative instruments in Note 20 – Other assets and other liabilities. |
Bank | |
Trading assets and liabilities | 14 Trading assets and liabilities end of 6M18 2017 Trading assets (CHF million) Debt securities 67,695 72,826 Equity securities 43,799 55,822 Derivative instruments 1 19,621 19,900 Other 4,672 8,226 Trading assets 135,787 156,774 Trading liabilities (CHF million) Short positions 27,596 24,478 Derivative instruments 1 15,183 14,654 Trading liabilities 42,779 39,132 1 Amounts shown after counterparty and cash collateral netting. Cash collateral on derivative instruments end of 6M18 2017 Cash collateral – netted (CHF million) 1 Cash collateral paid 21,252 23,587 Cash collateral received 14,376 14,996 Cash collateral – not netted (CHF million) 2 Cash collateral paid 7,488 5,142 Cash collateral received 8,761 8,644 1 Recorded as cash collateral netting on derivative instruments in Note 22 – Offsetting of financial assets and financial liabilities. 2 Recorded as cash collateral on derivative instruments in Note 19 – Other assets and other liabilities. |
Investment securities
Investment securities | 6 Months Ended |
Jun. 30, 2018 | |
Investment securities | 16 Investment securities end of 2Q18 1Q18 4Q17 Investment securities (CHF million) Securities available-for-sale 2,331 2,146 2,191 Total investment securities 2,331 2,146 2,191 Investment securities by type end of 2Q18 4Q17 Gross Gross Gross Gross Investment securities by type (CHF million) Debt securities issued by Swiss federal, cantonal or local governmental entities 2 0 0 2 199 13 0 212 Debt securities issued by foreign governments 1,228 12 0 1,240 1,215 21 0 1,236 Corporate debt securities 410 0 0 410 238 0 0 238 Residential mortgage-backed securities 1 677 0 0 677 207 0 0 207 Commercial mortgage-backed securities 2 0 0 2 173 0 0 173 Debt securities available-for-sale 2,319 12 0 2,331 2,032 34 0 2,066 Banks, trust and insurance companies 2 – – – – 95 30 0 125 Equity securities available-for-sale 2 – – – – 95 30 0 125 Securities available-for-sale 2,319 12 0 2,331 2,127 64 0 2,191 1 Relate to the consolidation of RMBS securitization VIEs where the assets are carried at fair value under the fair value option as are the VIEs’ liabilities recorded in long-term debt. 2 As a result of the adoption of ASU 2016-01 equity securities available-for-sale are now recognized in trading assets and no longer in investment securities. Refer to "Note 2 – Recently issued accounting standards" for further information. Proceeds from sales, realized gains and realized losses from available-for-sale securities in 6M18 6M17 Debt Equity 1 Debt Equity Additional information (CHF million) Proceeds from sales 255 – 3 4 Realized gains 8 – 0 0 1 As a result of the adoption of ASU 2016-01 equity securities available-for-sale are now recognized in trading assets and no longer in investment securities. Refer to "Note 2 – Recently issued accounting standards" for further information. Amortized cost, fair value and average yield of debt securities Debt securities Average 2Q18 (CHF million, except where indicated) Due within 1 year 677 678 0.78 Due from 1 to 5 years 619 629 0.81 Due from 5 to 10 years 344 345 0.76 Due after 10 years 679 679 4.41 Total debt securities 2,319 2,331 1.85 |
Bank | |
Investment securities | 15 Investment securities end of 6M18 2017 Investment securities (CHF million) Securities available-for-sale 2,329 2,189 Total investment securities 2,329 2,189 Investment securities by type end of 6M18 2017 Gross Gross Gross Gross Investment securities by type (CHF million) Debt securities issued by the Swiss federal, cantonal or local governmental entities 0 0 0 0 197 13 0 210 Debt securities issued by foreign governments 1,228 12 0 1,240 1,215 21 0 1,236 Corporate debt securities 410 0 0 410 238 0 0 238 Residential mortgage-backed securities 1 677 0 0 677 207 0 0 207 Commercial mortgage-backed securities 2 0 0 2 173 0 0 173 Debt securities available-for-sale 2,317 12 0 2,329 2,030 34 0 2,064 Banks, trust and insurance companies 2 – – – – 95 30 0 125 Equity securities available-for-sale 2 – – – – 95 30 0 125 Securities available-for-sale 2,317 12 0 2,329 2,125 64 0 2,189 1 Relate to the consolidation of RMBS securitization VIEs where the assets are carried at fair value under the fair value option as are the VIEs’ liabilities recorded in long-term debt. 2 As a result of the adoption of ASU 2016-01 equity securities available-for-sale are now recognized in trading assets and no longer in investment securities. Refer to "Note 2 – Recently issued accounting standards" for further information. Proceeds from sales, realized gains and realized losses from available-for-sale securities in 6M18 6M17 Debt Equity 1 Debt Equity Additional information (CHF million) Proceeds from sales 255 – 3 4 Realized gains 8 – 0 0 1 As a result of the adoption of ASU 2016-01 equity securities available-for-sale are now recognized in trading assets and no longer in investment securities. Refer to "Note 2 – Recently issued accounting standards" for further information. Amortized cost, fair value and average yield of debt securities Debt securities Average 6M18 (CHF million) Due within 1 year 677 678 0.78 Due from 1 to 5 years 617 627 0.81 Due from 5 to 10 years 344 345 0.76 Due after 10 years 679 679 4.41 Total debt securities 2,317 2,329 1.85 |
Other investments
Other investments | 6 Months Ended |
Jun. 30, 2018 | |
Other investments | 17 Other investments end of 2Q18 1Q18 4Q17 Other investments (CHF million) Equity method investments 2,989 2,938 3,066 Equity securities (without a readily determinable fair value) 1 1,193 1,092 1,292 of which at net asset value 601 624 742 of which at measurement alternative 187 193 175 of which at fair value 193 66 161 of which at cost less impairment 212 209 214 Real estate held-for-investment 2 173 187 232 Life finance instruments 3 1,271 1,270 1,374 Total other investments 5,626 5,487 5,964 1 Includes private equity, hedge funds and restricted stock investments as well as certain investments in non-marketable mutual funds for which the Group has neither significant influence nor control over the investee. 2 As of the end of 2Q18, 1Q18 and 4Q17, real estate held for investment included foreclosed or repossessed real estate of CHF 10 million, CHF 22 million and CHF 41 million, respectively, all related to residential real estate. 3 Includes life settlement contracts at investment method and SPIA contracts. Equity securities at measurement alternative – impairments and adjustments in / end of 2Q18 Cumulative Impairments and adjustments (CHF million) Impairments and downward adjustments 0 (3) Equity securities without a readily determinable fair value held by subsidiaries that are considered investment companies are held by separate legal entities that are within the scope of ASC Topic 946 – Financial Services – Investment Companies. In addition, equity securities without a readily determinable fair value held by subsidiaries that are considered broker-dealer entities are held by separate legal entities that are within the scope of ASC Topic 940 – Financial Services – Brokers and Dealers. Equity securities without a readily determinable fair value include investments in entities that regularly calculate NAV per share or its equivalent. > Refer to “Note 30 – Financial instruments” for further information on such investments. The Group performs a regular impairment analysis of real estate portfolios. The carrying values of the impaired properties were written down to their respective fair values, establishing a new cost base. For these properties, the fair values were measured based on either discounted cash flow analyses or external market appraisals. There were no impairments recorded in 2Q18, 1Q18 and 6M18, while in 2Q17 and 6M17, we recorded impairments of CHF 5 million and CHF 2 million, respectively. Accumulated depreciation related to real estate held-for-investment amounted to CHF 381 million, CHF 391 million and CHF 389 million for 2Q18, 1Q18 and 4Q17, respectively. |
Bank | |
Other investments | 16 Other investments end of 6M18 2017 Other investments (CHF million) Equity method investments 2,949 3,027 Equity securities (without a readily determinable fair value) 1 1,184 1,283 of which at net asset value 593 734 of which at measurement alternative 187 175 of which at fair value 193 161 of which at cost less impairment 211 213 Real estate held-for-investment 2 150 209 Life finance instruments 3 1,271 1,374 Total other investments 5,554 5,893 1 Includes private equity, hedge funds and restricted stock investments as well as certain investments in non-marketable mutual funds for which the Group has neither significant influence nor control over the investee. 2 As of the end of 6M18 and 2017, real estate held for investment included foreclosed or repossessed real estate of CHF 10 million and CHF 41 million, respectively, all related to residential real estate. 3 Includes life settlement contracts at investment method and SPIA contracts. Equity securities at measurement alternative – impairments and adjustments in / end of 6M18 Cumulative Impairments and adjustments (CHF million) Impairments and downward adjustments (3) (3) Equity securities without a readily determinable fair value include investments in entities that regularly calculate net asset value per share or its equivalent. > Refer to “Note 29 – Financial instruments” for further information on such investments. The Bank performs a regular impairment analysis of real estate portfolios. The carrying values of the impaired properties were written down to their respective fair values, establishing a new cost base. For these properties, the fair values were measured based on either discounted cash flow analyses or external market appraisals. There were no impairments recorded in 6M18, while in 6M17, the Bank recorded impairments of CHF 2 million. Accumulated depreciation related to real estate held-for-investment amounted to CHF 377 million and CHF 385 million for 6M18 and 2017, respectively. |
Loans, allowance for loan losse
Loans, allowance for loan losses and credit quality | 6 Months Ended |
Jun. 30, 2018 | |
Loans, allowance for loan losses and credit quality | 18 Loans, allowance for loan losses and credit quality > Refer to “Note 18 – Loans, allowance for loan losses and credit quality” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2017 for further information on loans, allowance for loan losses, credit quality, value of collateral and impaired loans. Loans end of 2Q18 1Q18 4Q17 Loans (CHF million) Mortgages 107,085 106,466 106,039 Loans collateralized by securities 44,025 44,086 42,016 Consumer finance 4,168 4,194 4,242 Consumer 155,278 154,746 152,297 Real estate 25,780 26,327 26,599 Commercial and industrial loans 86,762 83,464 81,670 Financial institutions 16,945 16,465 15,697 Governments and public institutions 3,915 3,827 3,874 Corporate & institutional 133,402 130,083 127,840 Gross loans 288,680 284,829 280,137 of which held at amortized cost 272,969 270,112 264,830 of which held at fair value 15,711 14,717 15,307 Net (unearned income)/deferred expenses (115) (117) (106) Allowance for loan losses (905) (858) (882) Net loans 287,660 283,854 279,149 Gross loans by location (CHF million) Switzerland 159,698 158,800 157,696 Foreign 128,982 126,029 122,441 Gross loans 288,680 284,829 280,137 Impaired loan portfolio (CHF million) Non-performing loans 1,157 1,075 1,048 Non-interest-earning loans 309 267 223 Non-performing and non-interest-earning loans 1,466 1,342 1,271 Restructured loans 207 216 290 Potential problem loans 429 408 549 Other impaired loans 636 624 839 Gross impaired loans 2,102 1,966 2,110 Allowance for loan losses by loan portfolio 2Q18 1Q18 2Q17 Corporate & Corporate & Corporate & Allowance for loan losses (CHF million) Balance at beginning of period 204 654 858 220 662 882 217 682 899 Net movements recognized in statements of operations 16 44 60 4 32 36 14 56 70 Gross write-offs (15) (27) (42) (24) (54) (78) (17) (36) (53) Recoveries 2 8 10 3 13 16 2 7 9 Net write-offs (13) (19) (32) (21) (41) (62) (15) (29) (44) Provisions for interest 4 3 7 2 6 8 3 2 5 Foreign currency translation impact and other adjustments, net 2 10 12 (1) (5) (6) (4) (9) (13) Balance at end of period 213 692 905 204 654 858 215 702 917 of which individually evaluated for impairment 172 474 646 164 464 628 172 540 712 of which collectively evaluated for impairment 41 218 259 40 190 230 43 162 205 Gross loans held at amortized cost (CHF million) Balance at end of period 155,258 117,711 272,969 154,726 115,386 270,112 149,718 108,550 258,268 of which individually evaluated for impairment 1 633 1,469 2,102 646 1,320 1,966 607 1,633 2,240 of which collectively evaluated for impairment 154,625 116,242 270,867 154,080 114,066 268,146 149,111 106,917 256,028 6M18 6M17 Corporate & Corporate & Allowance for loan losses (CHF million) Balance at beginning of period 220 662 882 216 722 938 Net movements recognized in statements of operations 20 76 96 31 105 136 Gross write-offs (39) (81) (120) (31) (121) (152) Recoveries 5 21 26 8 13 21 Net write-offs (34) (60) (94) (23) (108) (131) Provisions for interest 6 9 15 (5) 4 (1) Foreign currency translation impact and other adjustments, net 1 5 6 (4) (21) (25) Balance at end of period 213 692 905 215 702 917 1 Represents gross impaired loans both with and without a specific allowance. Purchases, reclassifications and sales in 2Q18 1Q18 2Q17 Corporate & Corporate & Corporate & Loans held at amortized cost (CHF million) Purchases 1 0 779 779 0 617 617 0 734 734 Reclassifications from loans held-for-sale 2 0 1 1 0 0 0 0 0 0 Reclassifications to loans held-for-sale 3 1 943 944 0 704 704 0 705 705 Sales 3 1 887 888 0 673 673 0 907 907 1 Includes drawdowns under purchased loan commitments. 2 Includes loans previously reclassified to held-for-sale that were not sold and were reclassified back to loans held-to-maturity. 3 All loans held at amortized cost which are sold are reclassified to loans held-for-sale on or prior to the date of the sale. Purchases, reclassifications and sales (continued) in 6M18 6M17 Corporate & Corporate & Loans held at amortized cost (CHF million) Purchases 1 0 1,396 1,396 0 1,658 1,658 Reclassifications from loans held-for-sale 2 0 1 1 0 0 0 Reclassifications to loans held-for-sale 3 1 1,647 1,648 0 3,809 3,809 Sales 3 1 1,560 1,561 0 3,696 3,696 1 Includes drawdowns under purchased loan commitments. 2 Includes loans previously reclassified to held-for-sale that were not sold and were reclassified back to loans held-to-maturity. 3 All loans held at amortized cost which are sold are reclassified to loans held-for-sale on or prior to the date of the sale. Gross loans held at amortized cost by internal counterparty rating Investment Non-investment end of AAA to BBB BB to C D Total 2Q18 (CHF million) Mortgages 95,851 10,913 321 107,085 Loans collateralized by securities 39,944 3,985 96 44,025 Consumer finance 1,724 2,246 178 4,148 Consumer 137,519 17,144 595 155,258 Real estate 19,389 5,766 121 25,276 Commercial and industrial loans 42,332 37,183 1,247 80,762 Financial institutions 8,518 1,930 47 10,495 Governments and public institutions 1,115 63 0 1,178 Corporate & institutional 71,354 44,942 1,415 117,711 Gross loans held at amortized cost 208,873 62,086 2,010 272,969 Value of collateral 1 193,758 49,991 1,408 245,157 4Q17 (CHF million) Mortgages 94,553 11,214 272 106,039 Loans collateralized by securities 38,387 3,530 99 42,016 Consumer finance 1,801 2,241 180 4,222 Consumer 134,741 16,985 551 152,277 Real estate 20,278 5,640 85 26,003 Commercial and industrial loans 39,475 35,250 1,300 76,025 Financial institutions 7,258 2,022 46 9,326 Governments and public institutions 1,124 74 1 1,199 Corporate & institutional 68,135 42,986 1,432 112,553 Gross loans held at amortized cost 202,876 59,971 1,983 264,830 Value of collateral 1 189,048 49,271 1,422 239,741 1 Includes the value of collateral up to the amount of the outstanding related loans. For mortgages, the value of collateral is determined at the time of granting the loan and thereafter regularly reviewed according to the Group's risk management policies and directives, with maximum review periods determined by property type, market liquidity and market transparency. Gross loans held at amortized cost – aging analysis Current Past due Up to 31–60 61–90 More than 2Q18 (CHF million) Mortgages 106,648 157 20 11 249 437 107,085 Loans collateralized by securities 43,921 3 0 2 99 104 44,025 Consumer finance 3,575 344 44 43 142 573 4,148 Consumer 154,144 504 64 56 490 1,114 155,258 Real estate 25,184 20 6 1 65 92 25,276 Commercial and industrial loans 79,504 372 128 98 660 1,258 80,762 Financial institutions 10,279 164 4 4 44 216 10,495 Governments and public institutions 1,175 3 0 0 0 3 1,178 Corporate & institutional 116,142 559 138 103 769 1,569 117,711 Gross loans held at amortized cost 270,286 1,063 202 159 1,259 2,683 272,969 4Q17 (CHF million) Mortgages 105,689 102 27 14 207 350 106,039 Loans collateralized by securities 41,867 37 0 0 112 149 42,016 Consumer finance 3,701 297 39 40 145 521 4,222 Consumer 151,257 436 66 54 464 1,020 152,277 Real estate 25,871 37 12 15 68 132 26,003 Commercial and industrial loans 74,831 429 40 201 524 1,194 76,025 Financial institutions 8,947 333 1 2 43 379 9,326 Governments and public institutions 1,197 1 0 0 1 2 1,199 Corporate & institutional 110,846 800 53 218 636 1,707 112,553 Gross loans held at amortized cost 262,103 1,236 119 272 1,100 2,727 264,830 Gross impaired loans by category Non-performing and Non- 2Q18 (CHF million) Mortgages 260 10 270 42 39 81 351 1 Loans collateralized by securities 85 13 98 0 2 2 100 Consumer finance 175 6 181 0 1 1 182 Consumer 520 29 549 42 42 84 633 Real estate 101 4 105 0 22 22 127 Commercial and industrial loans 535 233 768 165 362 527 1,295 Financial institutions 1 43 44 0 3 3 47 Corporate & institutional 637 280 917 165 387 552 1,469 Gross impaired loans 1,157 309 1,466 207 429 636 2,102 4Q17 (CHF million) Mortgages 236 17 253 13 66 79 332 1 Loans collateralized by securities 96 16 112 0 2 2 114 Consumer finance 176 9 185 0 1 1 186 Consumer 508 42 550 13 69 82 632 Real estate 73 4 77 0 19 19 96 Commercial and industrial loans 465 134 599 277 458 735 1,334 Financial institutions 1 43 44 0 3 3 47 Governments and public institutions 1 0 1 0 0 0 1 Corporate & institutional 540 181 721 277 480 757 1,478 Gross impaired loans 1,048 223 1,271 290 549 839 2,110 1 As of the end of 2Q18 and 4Q17, CHF 118 million and CHF 90 million, respectively, were related to consumer mortgages secured by residential real estate for which formal foreclosure proceedings according to local requirements of the applicable jurisdiction were in process. Gross impaired loan detail end of 2Q18 4Q17 Unpaid Associated Unpaid Associated Gross impaired loan detail (CHF million) Mortgages 270 256 29 254 239 36 Loans collateralized by securities 100 83 52 111 97 49 Consumer finance 179 158 91 180 160 94 Consumer 549 497 172 545 496 179 Real estate 123 116 11 86 79 11 Commercial and industrial loans 954 925 425 997 959 427 Financial institutions 47 47 38 47 46 37 Governments and public institutions 0 0 0 1 1 0 Corporate & institutional 1,124 1,088 474 1,131 1,085 475 Gross impaired loans with a specific allowance 1,673 1,585 646 1,676 1,581 654 Mortgages 81 81 – 78 78 – Loans collateralized by securities 0 0 – 3 3 – Consumer finance 3 3 – 6 6 – Consumer 84 84 – 87 87 – Real estate 4 4 – 10 10 – Commercial and industrial loans 341 341 – 337 337 – Corporate & institutional 345 345 – 347 347 – Gross impaired loans without specific allowance 429 429 – 434 434 – Gross impaired loans 2,102 2,014 646 2,110 2,015 654 of which consumer 633 581 172 632 583 179 of which corporate & institutional 1,469 1,433 474 1,478 1,432 475 Gross impaired loan detail (continued) in 2Q18 1Q18 2Q17 Interest Interest Interest Gross impaired loan detail (CHF million) Mortgages 266 1 0 255 0 0 233 1 1 Loans collateralized by securities 98 0 0 102 1 1 112 0 0 Consumer finance 177 1 1 176 0 0 169 1 1 Consumer 541 2 1 533 1 1 514 2 2 Real estate 94 0 0 87 0 0 71 0 0 Commercial and industrial loans 949 2 0 903 7 4 1,110 3 1 Financial institutions 47 0 0 45 0 0 76 0 0 Governments and public institutions 0 0 0 1 0 0 6 0 0 Corporate & institutional 1,090 2 0 1,036 7 4 1,263 3 1 Gross impaired loans with a specific allowance 1,631 4 1 1,569 8 5 1,777 5 3 Mortgages 109 1 0 87 1 0 87 1 0 Loans collateralized by securities 0 0 0 1 0 0 9 0 0 Consumer finance 2 0 0 3 0 0 1 0 0 Consumer 111 1 0 91 1 0 97 1 0 Real estate 3 1 0 2 0 0 37 0 0 Commercial and industrial loans 277 2 0 323 3 0 289 3 1 Corporate & institutional 280 3 0 325 3 0 326 3 1 Gross impaired loans without specific allowance 391 4 0 416 4 0 423 4 1 Gross impaired loans 2,022 8 1 1,985 12 5 2,200 9 4 of which consumer 652 3 1 624 2 1 611 3 2 of which corporate & institutional 1,370 5 0 1,361 10 4 1,589 6 2 Gross impaired loan detail (continued) in 6M18 6M17 Interest Interest Gross impaired loan detail (CHF million) Mortgages 260 1 0 217 1 1 Loans collateralized by securities 101 1 1 121 0 0 Consumer finance 177 1 1 170 1 1 Consumer 538 3 2 508 2 2 Real estate 90 0 0 71 0 0 Commercial and industrial loans 928 9 4 1,167 8 3 Financial institutions 46 0 0 92 0 0 Governments and public institutions 1 0 0 8 0 0 Corporate & institutional 1,065 9 4 1,338 8 3 Gross impaired loans with a specific allowance 1,603 12 6 1,846 10 5 Mortgages 97 2 0 81 2 0 Loans collateralized by securities 0 0 0 11 0 0 Consumer finance 3 0 0 4 0 0 Consumer 100 2 0 96 2 0 Real estate 3 1 0 31 0 0 Commercial and industrial loans 300 5 0 278 5 1 Corporate & institutional 303 6 0 309 5 1 Gross impaired loans without specific allowance 403 8 0 405 7 1 Gross impaired loans 2,006 20 6 2,251 17 6 of which consumer 638 5 2 604 4 2 of which corporate & institutional 1,368 15 4 1,647 13 4 Restructured loans held at amortized cost in 2Q18 1Q18 2Q17 Recorded Recorded Recorded Recorded Recorded Recorded Restructured loans (CHF million, except where indicated) Mortgages 5 29 29 0 0 0 0 0 0 Commercial and industrial loans 0 0 0 3 15 14 5 14 14 Total 5 29 29 3 15 14 5 14 14 in 6M18 6M17 Recorded Recorded Recorded Recorded Restructured loans (CHF million, except where indicated) Mortgages 5 29 29 0 0 0 Commercial and industrial loans 3 15 14 9 49 49 Total 8 44 43 9 49 49 In 6M18, the loan modifications of the Group included extended loan repayment terms, including suspensions of loan amortizations, the waiver of claims and interest rate concessions. The Group reported the default of one loan with a recorded investment of CHF 36 million in 2Q18, seven loans with a recorded investment of CHF 40 million in 1Q18 and eight loans with a recorded investment of CHF 76 million in 6M18 within commercial and industrial loans, which had been restructured within the previous 12 months. In 2Q17 and 6M17, the Group did not experience a default on any loan that had been restructured within the previous 12 months. |
Bank | |
Loans, allowance for loan losses and credit quality | 17 Loans, allowance for loan losses and credit quality > Refer to “Note 17 – Loans, allowance for loan losses and credit quality” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2017 for further information. Loans end of 6M18 2017 Loans (CHF million) Mortgages 107,085 106,039 Loans collateralized by securities 44,025 42,016 Consumer finance 4,168 4,242 Consumer 155,278 152,297 Real estate 25,780 26,599 Commercial and industrial loans 87,353 81,792 Financial institutions 21,871 19,662 Governments and public institutions 3,915 3,874 Corporate & institutional 138,919 131,927 Gross loans 294,197 284,224 of which held at amortized cost 278,486 268,917 of which held at fair value 15,711 15,307 Net (unearned income)/deferred expenses (115) (106) Allowance for loan losses (904) (881) Net loans 293,178 283,237 Gross loans by location (CHF million) Switzerland 164,541 161,645 Foreign 129,656 122,579 Gross loans 294,197 284,224 Impaired loan portfolio (CHF million) Non-performing loans 1,157 1,048 Non-interest-earning loans 297 210 Total non-performing and non-interest-earning loans 1,454 1,258 Restructured loans 207 290 Potential problem loans 429 549 Total other impaired loans 636 839 Gross impaired loans 2,090 2,097 Allowance for loan losses by loan portfolio 6M18 6M17 Corporate Corporate Allowance for loan losses (CHF million) Balance at beginning of period 220 661 881 216 721 937 Net movements recognized in statements of operations 20 76 96 31 105 136 Gross write-offs (39) (81) (120) (31) (121) (152) Recoveries 5 21 26 8 13 21 Net write-offs (34) (60) (94) (23) (108) (131) Provisions for interest 6 9 15 (5) 4 (1) Foreign currency translation impact and other adjustments, net 1 5 6 (4) (21) (25) Balance at end of period 213 691 904 215 701 916 of which individually evaluated for impairment 172 473 645 172 539 711 of which collectively evaluated for impairment 41 218 259 43 162 205 Gross loans held at amortized cost (CHF million) Balance at end of period 155,258 123,228 278,486 149,718 112,051 261,769 of which individually evaluated for impairment 1 633 1,457 2,090 607 1,621 2,228 of which collectively evaluated for impairment 154,625 121,771 276,396 149,111 110,430 259,541 1 Represents gross impaired loans both with and without a specific allowance. Purchases, reclassifications and sales in 6M18 6M17 Corporate Corporate Loans held at amortized cost (CHF million) Purchases 1 0 1,396 1,396 0 1,658 1,658 Reclassifications from loans held-for-sale 2 0 1 1 0 0 0 Reclassifications to loans held-for-sale 3 1 1,647 1,648 0 3,809 3,809 Sales 3 1 1,560 1,561 0 3,696 3,696 1 Includes drawdowns under purchased loan commitments. 2 Includes loans previously reclassified to held-for-sale that were not sold and were reclassified back to loans held-to-maturity. 3 All loans held at amortized cost which are sold are reclassified to loans held-for-sale on or prior to the date of the sale. Gross loans held at amortized cost by internal counterparty rating Investment Non-investment end of AAA to BBB BB to C D Total 6M18 (CHF million) Mortgages 95,851 10,913 321 107,085 Loans collateralized by securities 39,944 3,985 96 44,025 Consumer finance 1,724 2,246 178 4,148 Consumer 137,519 17,144 595 155,258 Real estate 19,389 5,766 121 25,276 Commercial and industrial loans 42,935 37,183 1,235 81,353 Financial institutions 13,444 1,930 47 15,421 Governments and public institutions 1,115 63 0 1,178 Corporate & institutional 76,883 44,942 1,403 123,228 Gross loans held at amortized cost 214,402 62,086 1,998 278,486 Value of collateral 1 193,801 49,991 1,396 245,188 2017 (CHF million) Mortgages 94,553 11,214 272 106,039 Loans collateralized by securities 38,387 3,530 99 42,016 Consumer finance 1,801 2,241 180 4,222 Consumer 134,741 16,985 551 152,277 Real estate 20,278 5,640 85 26,003 Commercial and industrial loans 39,610 35,250 1,287 76,147 Financial institutions 11,223 2,022 46 13,291 Governments and public institutions 1,124 74 1 1,199 Corporate & institutional 72,235 42,986 1,419 116,640 Gross loans held at amortized cost 206,976 59,971 1,970 268,917 Value of collateral 1 189,092 49,271 1,409 239,772 1 Includes the value of collateral up to the amount of the outstanding related loans. For mortgages, the value of collateral is determined at the time of granting the loan and thereafter regularly reviewed according to the Bank's risk management policies and directives, with maximum review periods determined by property type, market liquidity and market transparency. Gross loans held at amortized cost – aging analysis Current Past due More 6M18 (CHF million) Mortgages 106,648 157 20 11 249 437 107,085 Loans collateralized by securities 43,921 3 0 2 99 104 44,025 Consumer finance 3,575 344 44 43 142 573 4,148 Consumer 154,144 504 64 56 490 1,114 155,258 Real estate 25,184 20 6 1 65 92 25,276 Commercial and industrial loans 80,107 372 128 98 648 1,246 81,353 Financial institutions 15,205 164 4 4 44 216 15,421 Governments and public institutions 1,175 3 0 0 0 3 1,178 Corporate & institutional 121,671 559 138 103 757 1,557 123,228 Gross loans held at amortized cost 275,815 1,063 202 159 1,247 2,671 278,486 2017 (CHF million) Mortgages 105,689 102 27 14 207 350 106,039 Loans collateralized by securities 41,867 37 0 0 112 149 42,016 Consumer finance 3,701 297 39 40 145 521 4,222 Consumer 151,257 436 66 54 464 1,020 152,277 Real estate 25,871 37 12 15 68 132 26,003 Commercial and industrial loans 74,966 429 40 201 511 1,181 76,147 Financial institutions 12,912 333 1 2 43 379 13,291 Governments and public institutions 1,197 1 0 0 1 2 1,199 Corporate & institutional 114,946 800 53 218 623 1,694 116,640 Gross loans held at amortized cost 266,203 1,236 119 272 1,087 2,714 268,917 Gross impaired loans by category Non-performing and Non- 6M18 (CHF million) Mortgages 260 10 270 42 39 81 351 1 Loans collateralized by securities 85 13 98 0 2 2 100 Consumer finance 175 6 181 0 1 1 182 Consumer 520 29 549 42 42 84 633 Real estate 101 4 105 0 22 22 127 Commercial and industrial loans 535 221 756 165 362 527 1,283 Financial institutions 1 43 44 0 3 3 47 Corporate & institutional 637 268 905 165 387 552 1,457 Gross impaired loans 1,157 297 1,454 207 429 636 2,090 2017 (CHF million) Mortgages 236 17 253 13 66 79 332 1 Loans collateralized by securities 96 16 112 0 2 2 114 Consumer finance 176 9 185 0 1 1 186 Consumer 508 42 550 13 69 82 632 Real estate 73 4 77 0 19 19 96 Commercial and industrial loans 465 121 586 277 458 735 1,321 Financial institutions 1 43 44 0 3 3 47 Governments and public institutions 1 0 1 0 0 0 1 Corporate & institutional 540 168 708 277 480 757 1,465 Gross impaired loans 1,048 210 1,258 290 549 839 2,097 1 As of the end of 6M18 and 2017, CHF 118 million and CHF 90 million, respectively, were related to consumer mortgages secured by residential real estate for which formal foreclosure proceedings according to local requirements of the applicable jurisdiction were in process. Gross impaired loan detail end of 6M18 2017 Unpaid Associated Unpaid Associated Gross impaired loan detail (CHF million) Mortgages 270 256 29 254 239 36 Loans collateralized by securities 100 83 52 111 97 49 Consumer finance 179 158 91 180 160 94 Consumer 549 497 172 545 496 179 Real estate 123 116 11 86 79 11 Commercial and industrial loans 942 914 424 984 947 426 Financial institutions 47 47 38 47 46 37 Governments and public institutions 0 0 0 1 1 0 Corporate & institutional 1,112 1,077 473 1,118 1,073 474 Gross impaired loans with a specific allowance 1,661 1,574 645 1,663 1,569 653 Mortgages 81 81 – 78 78 – Loans collateralized by securities 0 0 – 3 3 – Consumer finance 3 3 – 6 6 – Consumer 84 84 – 87 87 – Real estate 4 4 – 10 10 – Commercial and industrial loans 341 341 – 337 337 – Corporate & institutional 345 345 – 347 347 – Gross impaired loans without specific allowance 429 429 – 434 434 – Gross impaired loans 2,090 2,003 645 2,097 2,003 653 of which consumer 633 581 172 632 583 179 of which corporate & institutional 1,457 1,422 473 1,465 1,420 474 Gross impaired loan detail (continued) in 6M18 6M17 Interest Interest Gross impaired loan detail (CHF million) Mortgages 260 1 0 217 1 1 Loans collateralized by securities 101 1 1 121 0 0 Consumer finance 177 1 1 170 1 1 Consumer 538 3 2 508 2 2 Real estate 90 0 0 71 0 0 Commercial and industrial loans 915 9 4 1,155 8 3 Financial institutions 46 0 0 92 0 0 Governments and public institutions 1 0 0 8 0 0 Corporate & institutional 1,052 9 4 1,326 8 3 Gross impaired loans with a specific allowance 1,590 12 6 1,834 10 5 Mortgages 97 2 0 81 2 0 Loans collateralized by securities 0 0 0 11 0 0 Consumer finance 3 0 0 4 0 0 Consumer 100 2 0 96 2 0 Real estate 3 1 0 31 0 0 Commercial and industrial loans 300 5 0 278 5 1 Corporate & institutional 303 6 0 309 5 1 Gross impaired loans without specific allowance 403 8 0 405 7 1 Gross impaired loans 1,993 20 6 2,239 17 6 of which consumer 638 5 2 604 4 2 of which corporate & institutional 1,355 15 4 1,635 13 4 Restructured loans held at amortized cost in 6M18 6M17 Recorded Recorded Recorded Recorded Restructured loans (CHF million, except where indicated) Mortgages 5 29 29 0 0 0 Commercial and industrial loans 3 15 14 9 49 49 Total 8 44 43 9 49 49 In 6M18, the loan modifications of the Bank included extended loan repayment terms, including suspensions of loan amortizations, the waiver of claims and interest rate concessions. In 6M18, the Bank reported the default of eight loans with a recorded investment of CHF 76 million within commercial and industrial loans, which had been restructured within the previous 12 months. In 6M17, the Bank did not experience a default on any loan that had been restructured within the previous 12 months. |
Goodwill
Goodwill | 6 Months Ended |
Jun. 30, 2018 | |
Goodwill | 19 Goodwill Goodwill Investment Gross amount of goodwill (CHF million) Balance at beginning of period 603 1,518 2,245 3,170 1,010 12 8,558 Foreign currency translation impact 12 45 40 14 19 0 130 Balance at end of period 615 1,563 2,285 3,184 1,029 12 8,688 Accumulated impairment (CHF million) Balance at beginning of period 0 0 772 2,719 388 12 3,891 Balance at end of period 0 0 772 2,719 388 12 3,891 Net book value (CHF million) Net book value 615 1,563 1,513 465 641 0 4,797 6M18 Gross amount of goodwill (CHF million) Balance at beginning of period 610 1,544 2,268 3,178 1,021 12 8,633 Foreign currency translation impact 5 19 17 6 8 0 55 Balance at end of period 615 1,563 2,285 3,184 1,029 12 8,688 Accumulated impairment (CHF million) Balance at beginning of period 0 0 772 2,719 388 12 3,891 Balance at end of period 0 0 772 2,719 388 12 3,891 Net book value (CHF million) Net book value 615 1,563 1,513 465 641 0 4,797 In accordance with US GAAP, the Group continually assesses whether or not there has been a triggering event requiring a review of goodwill. The Group determined in 2Q18 that a goodwill triggering event occurred for the Global Markets and Investment Banking & Capital Markets reporting units. Based on its goodwill impairment analysis performed as of June 30, 2018, the Group concluded that the estimated fair value for all of the reporting units with goodwill substantially exceeded their related carrying values and no impairment was necessary as of June 30, 2018. The carrying value of each reporting unit for the purpose of the goodwill impairment test is determined by considering the reporting units’ risk-weighted assets usage, leverage ratio exposure, deferred tax assets, goodwill and intangible assets. Any residual equity, after considering the total of these elements, is allocated to the reporting units on a pro-rata basis. In estimating the fair value of its reporting units, the Group applied a combination of the market approach and the income approach. Under the market approach, consideration was given to price to projected earnings multiples or price to book value multiples for similarly traded companies and prices paid in recent transactions that have occurred in its industry or in related industries. Under the income approach, a discount rate was applied that reflects the risk and uncertainty related to the reporting unit’s projected cash flows, which are determined from the Group’s financial plan. In determining the estimated fair value, the Group relied upon its current five-year strategic business plan updated for full year forecasts based on June year-to-date results which included significant management assumptions and estimates based on its view of current and future economic conditions and regulatory changes. The results of the impairment evaluation of each reporting unit’s goodwill would be significantly impacted by adverse changes in the underlying parameters used in the valuation process. If actual outcomes adversely differ by a significant margin from its best estimates of the key economic assumptions and associated cash flows applied in the valuation of the reporting unit, the Group could potentially incur material impairment charges in the future. |
Bank | |
Goodwill | 18 Goodwill Investment Gross amount of goodwill (CHF million) Balance at beginning of period 592 1,531 2,044 2,837 911 12 7,927 Foreign currency translation impact 5 19 16 2 7 0 49 Balance at end of period 597 1,550 2,060 2,839 918 12 7,976 Accumulated impairment (CHF million) Balance at beginning of period 0 0 772 2,719 388 12 3,891 Balance at end of period 0 0 772 2,719 388 12 3,891 Net book value (CHF million) Net book value 597 1,550 1,288 120 530 0 4,085 > Refer to “Note 19 – Goodwill” in III – Condensed consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q18 for further information. |
Other assets and other liabilit
Other assets and other liabilities | 6 Months Ended |
Jun. 30, 2018 | |
Other assets and other liabilities | 20 Other assets and other liabilities end of 2Q18 1Q18 4Q17 Other assets (CHF million) Cash collateral on derivative instruments 7,488 6,330 5,141 Cash collateral on non-derivative transactions 909 510 490 Derivative instruments used for hedging 37 33 50 Assets held-for-sale 8,039 8,790 8,300 of which loans 1 7,980 8,724 8,130 of which real estate 2 58 66 141 of which long-lived assets 1 0 29 Assets held for separate accounts 182 186 190 Interest and fees receivable 5,160 4,746 4,669 Deferred tax assets 5,191 5,228 5,522 Prepaid expenses 606 478 379 Failed purchases 1,475 1,375 1,327 Defined benefit pension and post-retirement plan assets 2,504 2,389 2,170 Other 3,718 3,713 3,833 Other assets 35,309 33,778 32,071 Other liabilities (CHF million) Cash collateral on derivative instruments 8,761 8,749 8,644 Cash collateral on non-derivative transactions 552 516 473 Derivative instruments used for hedging 2 16 99 Provisions 1,013 983 1,007 of which off-balance sheet risk 132 116 106 Restructuring liabilities 329 312 306 Liabilities held for separate accounts 182 186 190 Interest and fees payable 5,744 5,308 5,591 Current tax liabilities 666 720 700 Deferred tax liabilities 567 461 394 Failed sales 624 653 720 Defined benefit pension and post-retirement plan liabilities 546 543 541 Other 11,528 11,231 12,947 Other liabilities 30,514 29,678 31,612 1 Included as of the end of 2Q18, 1Q18 and 4Q17 were CHF 623 million, CHF 446 million and CHF 534 million, respectively, in restricted loans, which represented collateral on secured borrowings. 2 As of the end of 2Q18, 1Q18 and 4Q17, real estate held-for-sale included foreclosed or repossessed real estate of CHF 7 million, CHF 21 million and CHF 8 million, respectively, of which CHF 4 million, CHF 18 million and CHF 5 million, respectively were related to residental real estate. |
Bank | |
Other assets and other liabilities | 19 Other assets and other liabilities end of 6M18 2017 Other assets (CHF million) Cash collateral on derivative instruments 7,488 5,142 Cash collateral on non-derivative transactions 909 490 Derivative instruments used for hedging 37 50 Assets held-for-sale 8,039 8,300 of which loans 1 7,980 8,130 of which real estate 2 58 141 of which long-lived assets 1 29 Assets held for separate accounts 182 190 Interest and fees receivable 5,446 4,819 Deferred tax assets 3 5,114 5,457 Prepaid expenses 555 330 Failed purchases 1,475 1,327 Defined benefit pension and post-retirement plan assets 1,062 1,058 Other 3 3,720 3,793 Other assets 34,027 30,956 Other liabilities (CHF million) Cash collateral on derivative instruments 8,761 8,644 Cash collateral on non-derivative transactions 552 473 Derivative instruments used for hedging 2 99 Provisions 997 998 of which off-balance sheet risk 132 106 Restructuring liabilities 324 301 Liabilities held for separate accounts 182 190 Interest and fees payable 5,903 5,804 Current tax liabilities 652 687 Deferred tax liabilities 255 152 Failed sales 624 720 Defined benefit pension and post-retirement plan liabilities 546 541 Other 11,640 13,074 Other liabilities 30,438 31,683 1 Included as of the end of 6M18 and 2017 were CHF 623 million and CHF 534 million, respectively, in restricted loans, which represented collateral on secured borrowings. 2 As of the end of 6M18 and 2017, real estate held-for-sale included foreclosed or repossessed real estate of CHF 7 million and CHF 8 million, respectively, of which CHF 4 million and CHF 5 million, respectively, were related to residential real estate. 3 Includes a reclassification from other assets to deferred tax assets in 1Q17 as a result of the early adoption of ASU 2016-16. Refer to “Note 2 – Recently issued accounting standards” for further information. |
Long-term debt
Long-term debt | 6 Months Ended |
Jun. 30, 2018 | |
Long-term debt | 21 Long-term debt Long-term debt end of 2Q18 1Q18 4Q17 Long-term debt (CHF million) Senior 143,119 143,757 148,542 Subordinated 21,770 21,415 23,627 Non-recourse liabilities from consolidated VIEs 1,072 994 863 Long-term debt 165,961 166,166 173,032 of which reported at fair value 62,205 61,536 63,628 of which structured notes 49,734 49,032 51,465 Structured notes by product end of 2Q18 1Q18 4Q17 Structured notes (CHF million) Equity 33,363 30,760 32,059 Fixed income 12,841 13,827 14,471 Credit 3,170 4,188 4,678 Other 360 257 257 Total structured notes 49,734 49,032 51,465 |
Bank | |
Long-term debt | 20 Long-term debt Long-term debt end of 6M18 2017 Long-term debt (CHF million) Senior 143,206 148,568 Subordinated 20,832 22,611 Non-recourse liabilities from consolidated VIEs 1,072 863 Long-term debt 165,110 172,042 of which reported at fair value 61,272 62,622 of which structured notes 49,734 51,465 Structured notes by product end of 6M18 2017 Structured notes (CHF million) Equity 33,363 32,059 Fixed income 12,841 14,471 Credit 3,170 4,678 Other 360 257 Total structured notes 49,734 51,465 |
Accumulated other comprehensive
Accumulated other comprehensive income | 6 Months Ended |
Jun. 30, 2018 | |
Accumulated other comprehensive income | 22 Accumulated other comprehensive income and additional share information Accumulated other comprehensive income/(loss) Gains/ Accumu- 2Q18 (CHF million) Balance at beginning of period (95) (13,612) 21 (3,503) 491 (2,153) (18,851) Increase/(decrease) (66) 562 (1) 1 0 733 1,229 Increase/(decrease) due to equity method investments (4) 0 0 0 0 0 (4) Reclassification adjustments, included in net income/(loss) 60 (2) (7) 72 (29) 28 122 Total increase/(decrease) (10) 560 (8) 73 (29) 761 1,347 Balance at end of period (105) (13,052) 13 (3,430) 462 (1,392) (17,504) 1Q18 (CHF million) Balance at beginning of period (62) (13,119) 48 (3,583) 522 (2,544) (18,738) Increase/(decrease) (47) (493) (6) 10 0 384 (152) Increase/(decrease) due to equity method investments 1 0 0 0 0 0 1 Reclassification adjustments, included in net income/(loss) 13 0 0 70 (31) 7 59 Cumulative effect of accounting changes, net of tax 0 0 (21) 0 0 0 (21) Total increase/(decrease) (33) (493) (27) 80 (31) 391 (113) Balance at end of period (95) (13,612) 21 (3,503) 491 (2,153) (18,851) 2Q17 (CHF million) Balance at beginning of period (39) (12,591) 59 (4,175) 604 (1,081) (17,223) Increase/(decrease) (8) (1,096) (5) 2 0 (628) (1,735) Increase/(decrease) due to equity method investments 0 1 0 0 0 0 1 Reclassification adjustments, included in net income/(loss) 18 0 0 80 (28) (2) 68 Total increase/(decrease) 10 (1,095) (5) 82 (28) (630) (1,666) Balance at end of period (29) (13,686) 54 (4,093) 576 (1,711) (18,889) 6M18 (CHF million) Balance at beginning of period (62) (13,119) 48 (3,583) 522 (2,544) (18,738) Increase/(decrease) (113) 69 (7) 11 0 1,117 1,077 Increase/(decrease) due to equity method investments (3) 0 0 0 0 0 (3) Reclassification adjustments, included in net income/(loss) 73 (2) (7) 142 (60) 35 181 Cumulative effect of accounting changes, net of tax 0 0 (21) 0 0 0 (21) Total increase/(decrease) (43) 67 (35) 153 (60) 1,152 1,234 Balance at end of period (105) (13,052) 13 (3,430) 462 (1,392) (17,504) 6M17 (CHF million) Balance at beginning of period (35) (12,095) 61 (4,278) 643 (568) (16,272) Increase/(decrease) (16) (1,615) (7) 25 0 (1,141) (2,754) Increase/(decrease) due to equity method investments 0 1 0 0 0 0 1 Reclassification adjustments, included in net income/(loss) 22 23 0 160 (67) (2) 136 Total increase/(decrease) 6 (1,591) (7) 185 (67) (1,143) (2,617) Balance at end of period (29) (13,686) 54 (4,093) 576 (1,711) (18,889) Details on significant reclassification adjustments in 2Q18 1Q18 2Q17 6M18 6M17 Reclassification adjustments, included in net income/(loss) (CHF million) Cumulative translation adjustments Reclassification adjustments (2) 0 0 (2) 23 1 Actuarial gains/(losses) Amortization of recognized actuarial losses 2 90 88 100 178 200 Tax expense/(benefit) (18) (18) (20) (36) (40) Net of tax 72 70 80 142 160 Net prior service credit/(cost) Amortization of recognized prior service credit/(cost) 2 (37) (39) (36) (76) (86) Tax expense 8 8 8 16 19 Net of tax (29) (31) (28) (60) (67) 1 Includes net releases of CHF 23 million on the sale of Credit Suisse (Monaca) S.A.M. in 1Q17. These were reclassified from cumulative translation adjustments and included in net income in other revenues. 2 These components are included in the computation of total benefit costs. Refer to "Note 26 – Pension and other post-retirement benefits" for further information. Additional share information 2Q18 1Q18 2Q17 6M18 6M17 Common shares issued Balance at beginning of period 2,556,011,720 2,556,011,720 2,089,897,378 2,556,011,720 2,089,897,378 Issuance of common shares 0 0 466,114,342 0 466,114,342 Balance at end of period 2,556,011,720 2,556,011,720 2,556,011,720 2,556,011,720 2,556,011,720 Treasury shares Balance at beginning of period (16,413,030) (5,757,666) (6,308,347) (5,757,666) 0 Sale of treasury shares 173,383,973 197,832,217 240,261,524 371,216,190 405,721,747 Repurchase of treasury shares (205,279,026) (210,060,139) (273,705,085) (415,339,165) (446,572,454) Share-based compensation 42,340,132 1,572,558 37,009,421 43,912,690 38,108,220 Balance at end of period (5,967,951) (16,413,030) (2,742,487) (5,967,951) (2,742,487) Common shares outstanding Balance at end of period 2,550,043,769 1 2,539,598,690 1 2,553,269,233 1 2,550,043,769 1 2,553,269,233 1 1 At par value CHF 0.04 each, fully paid. In addition to the treasury shares, a maximum of 653,000,000 unissued shares (conditional, conversion and authorized capital) were available for issuance without further approval of the shareholders. 505,062,294 of these shares were reserved for capital instruments. |
Bank | |
Accumulated other comprehensive income | 21 Accumulated other comprehensive income Accumulated other comprehensive income/(loss) Gains/ Accumu- 6M18 (CHF million) Balance at beginning of period (51) (13,248) 48 (381) 2 (2,302) (15,932) Increase/(decrease) (113) 57 (6) (7) 0 956 887 Reclassification adjustments, included in net income/(loss) 70 (2) (7) 22 0 35 118 Cumulative effect of accounting changes, net of tax 0 0 (22) 0 0 0 (22) Total increase/(decrease) (43) 55 (35) 15 0 991 983 Balance at end of period (94) (13,193) 13 (366) 2 (1,311) (14,949) 6M17 (CHF million) Balance at beginning of period (16) (12,269) 61 (402) 2 (618) (13,242) Increase/(decrease) (16) (1,549) (7) 0 0 (923) (2,495) Decrease due to equity method investments 0 1 0 0 0 0 1 Reclassification adjustments, included in net income/(loss) 18 23 0 25 0 (2) 64 Total increase/(decrease) 2 (1,525) (7) 25 0 (925) (2,430) Balance at end of period (14) (13,794) 54 (377) 2 (1,543) (15,672) Details on significant reclassification adjustments in 6M18 6M17 Reclassification adjustments, included in net income/(loss) (CHF million) Cumulative translation adjustments Reclassification adjustments (2) 23 1 Actuarial gains/(losses) Amortization of recognized actuarial losses 2 26 31 Tax expense/(benefit) (4) (6) Net of tax 22 25 1 Includes net releases of CHF 23 million on the sale of Credit Suisse (Monaco) S.A.M. in 6M17. These were reclassified from cumulative translation adjustments and included in net income in other revenues. 2 These components are included in the computation of total benefit costs. Refer to "Note 25 – Pension and other post-retirement benefits" for further information. |
Offsetting of financial assets
Offsetting of financial assets and financial liabilities | 6 Months Ended |
Jun. 30, 2018 | |
Offsetting of financial assets and financial liabilities | 23 Offsetting of financial assets and financial liabilities The disclosures set out in the tables below include derivatives, reverse repurchase and repurchase agreements, and securities lending and borrowing transactions that: – – Similar agreements include derivative clearing agreements, global master repurchase agreements and global master securities lending agreements. Derivatives The Group transacts bilateral OTC derivatives mainly under the International Swaps and Derivatives Association (ISDA) Master Agreements and Swiss Master Agreements for OTC derivative instruments. These agreements provide for the net settlement of all transactions under the agreement through a single payment in the event of default or termination under the agreement. They allow the Group to offset balances from derivative assets and liabilities as well as the receivables and payables to related cash collateral transacted with the same counterparty. Collateral for OTC derivatives is received and provided in the form of cash and marketable securities. Such collateral may be subject to the standard industry terms of an ISDA Credit Support Annex. The terms of an ISDA Credit Support Annex provide that securities received or provided as collateral may be pledged or sold during the term of the transactions and must be returned upon maturity of the transaction. These terms also give each counterparty the right to terminate the related transactions upon the other counterparty’s failure to post collateral. Financial collateral received or pledged for OTC derivatives may also be subject to collateral agreements which restrict the use of financial collateral. For derivatives transacted with exchanges (exchange-traded derivatives) and central clearing counterparties (OTC-cleared derivatives), positive and negative replacement values (PRV/NRV) and related cash collateral may be offset if the terms of the rules and regulations governing these exchanges and central clearing counterparties permit such netting and offset. Where no such agreements exist, fair values are recorded on a gross basis. Exchange-traded derivatives or OTC-cleared derivatives, which are fully margined and for which the daily margin payments constitute settlement of the outstanding exposure, are not included in the offsetting disclosures because they are not subject to offsetting due to the daily settlement. The daily margin payments, which are not settled until the next settlement cycle is conducted, are presented in brokerage receivables or brokerage payables. The notional amount for these daily settled derivatives is included in the fair value of derivative instruments table in “Note 27 – Derivatives and hedging activities”. Under US GAAP, the Group elected to account for substantially all financial instruments with an embedded derivative that is not considered clearly and closely related to the host contract at fair value. There is an exception for a bifurcatable hybrid debt instrument which the Group did not elect to account for at fair value. However, this bifurcated embedded derivative is not subject to an enforceable master netting agreement and is not recorded as a derivative instrument under trading assets and liabilities or other assets and other liabilities. Information on this bifurcated embedded derivative has therefore not been included in the offsetting disclosures. The following table presents the gross amount of derivatives subject to enforceable master netting agreements by contract and transaction type, the amount of offsetting, the amount of derivatives not subject to enforceable master netting agreements and the net amount presented in the consolidated balance sheets. Offsetting of derivatives end of 2Q18 4Q17 Derivative Derivative Derivative Derivative Gross derivatives subject to enforceable master netting agreements (CHF billion) OTC-cleared 3.7 3.4 2.5 1.8 OTC 71.7 66.9 83.3 79.0 Exchange-traded 0.3 0.4 0.1 0.2 Interest rate products 75.7 70.7 85.9 81.0 OTC-cleared 0.5 0.4 0.2 0.2 OTC 35.1 39.7 29.1 34.6 Exchange-traded 0.0 0.1 0.0 0.0 Foreign exchange products 35.6 40.2 29.3 34.8 OTC 11.2 10.6 11.7 11.7 Exchange-traded 9.9 11.8 9.2 9.8 Equity/index-related products 21.1 22.4 20.9 21.5 OTC-cleared 2.9 3.2 3.6 3.8 OTC 3.6 4.6 3.9 4.7 Credit derivatives 6.5 7.8 7.5 8.5 OTC 0.7 0.6 1.4 0.9 Other products 1 0.7 0.6 1.4 0.9 OTC-cleared 7.1 7.0 6.3 5.8 OTC 122.3 122.4 129.4 130.9 Exchange-traded 10.2 12.3 9.3 10.0 Total gross derivatives subject to enforceable master netting agreements 139.6 141.7 145.0 146.7 Offsetting (CHF billion) OTC-cleared (6.7) (6.8) (5.7) (5.4) OTC (108.0) (113.5) (114.5) (122.1) Exchange-traded (9.5) (10.8) (8.6) (9.6) Offsetting (124.2) (131.1) (128.8) (137.1) of which counterparty netting (109.8) (109.8) (113.8) (113.8) of which cash collateral netting (14.4) (21.3) (15.0) (23.3) Net derivatives presented in the consolidated balance sheets (CHF billion) OTC-cleared 0.4 0.2 0.6 0.4 OTC 14.3 8.9 14.9 8.8 Exchange-traded 0.7 1.5 0.7 0.4 Total net derivatives subject to enforceable master netting agreements 15.4 10.6 16.2 9.6 Total derivatives not subject to enforceable master netting agreements 2 4.2 4.6 3.4 5.2 Total net derivatives presented in the consolidated balance sheets 19.6 15.2 19.6 14.8 of which recorded in trading assets and trading liabilities 19.6 15.2 19.6 14.7 of which recorded in other assets and other liabilities 0.0 0.0 0.0 0.1 1 Primarily precious metals, commodity and energy products. 2 Represents derivatives where a legal opinion supporting the enforceability of netting in the event of default or termination under the agreement is not in place. Reverse repurchase and repurchase agreements and securities lending and borrowing transactions Reverse repurchase and repurchase agreements are generally covered by global master repurchase agreements. In certain situations, for example, in the event of default, all contracts under the agreements are terminated and are settled net in one single payment. Global master repurchase agreements also include payment or settlement netting provisions in the normal course of business that state that all amounts in the same currency payable by each party to the other under any transaction or otherwise under the global master repurchase agreement on the same date shall be set off. Transactions under such agreements are netted in the consolidated balance sheets if they are with the same counterparty, have the same maturity date, settle through the same clearing institution and are subject to the same master netting agreement. The amounts offset are measured on the same basis as the underlying transaction (i.e., on an accrual basis or fair value basis). Securities lending and borrowing transactions are generally executed under global master securities lending agreements with netting terms similar to ISDA Master Agreements. In certain situations, for example in the event of default, all contracts under the agreement are terminated and are settled net in one single payment. Transactions under these agreements are netted in the consolidated balance sheets if they meet the same right of offset criteria as for reverse repurchase and repurchase agreements. In general, most securities lending and borrowing transactions do not meet the criterion of having the same settlement date specified at inception of the transaction, and therefore they are not eligible for netting in the consolidated balance sheets. However, securities lending and borrowing transactions with explicit maturity dates may be eligible for netting in the consolidated balance sheets. Reverse repurchase and repurchase agreements are collateralized principally by government securities, money market instruments and corporate bonds and have terms ranging from overnight to a longer or unspecified period of time. In the event of counterparty default, the reverse repurchase agreement or securities lending agreement provides the Group with the right to liquidate the collateral held. As is the case in the Group’s normal course of business, a significant portion of the collateral received that may be sold or repledged was sold or repledged as of June 30, 2018 and December 31, 2017. In certain circumstances, financial collateral received may be restricted during the term of the agreement (e.g., in tri-party arrangements). The following table presents the gross amount of securities purchased under resale agreements and securities borrowing transactions subject to enforceable master netting agreements, the amount of offsetting, the amount of securities purchased under resale agreements and securities borrowing transactions not subject to enforceable master netting agreements and the net amount presented in the consolidated balance sheets. Offsetting of securities purchased under resale agreements and securities borrowing transactions end of 2Q18 4Q17 Net Net Securities purchased under resale agreements and securities borrowing transactions (CHF billion) Securities purchased under resale agreements 84.6 (21.9) 62.7 89.4 (28.8) 60.6 Securities borrowing transactions 21.6 (5.1) 16.5 18.7 (5.0) 13.7 Total subject to enforceable master netting agreements 106.2 (27.0) 79.2 108.1 (33.8) 74.3 Total not subject to enforceable master netting agreements 1 38.4 – 38.4 41.0 – 41.0 Total 144.6 (27.0) 117.6 2 149.1 (33.8) 115.3 2 1 Represents securities purchased under resale agreements and securities borrowing transactions where a legal opinion supporting the enforceability of netting in the event of default or termination under the agreement is not in place. 2 CHF 75,706 million and CHF 77,498 million of the total net amount as of the end of 2Q18 and 4Q17, respectively, are reported at fair value. The following table presents the gross amount of securities sold under repurchase agreements and securities lending transactions subject to enforceable master netting agreements, the amount of offsetting, the amount of securities sold under repurchase agreements and securities lending transactions not subject to enforceable master netting agreements and the net amount presented in the consolidated balance sheets. Offsetting of securities sold under repurchase agreements and securities lending transactions end of 2Q18 4Q17 Net Net Securities sold under repurchase agreements and securities lending transactions (CHF billion) Securities sold under repurchase agreements 38.9 (24.7) 14.2 49.4 (31.5) 17.9 Securities lending transactions 6.2 (2.3) 3.9 7.1 (2.3) 4.8 Obligation to return securities received as collateral, at fair value 43.6 0.0 43.6 37.0 0.0 37.0 Total subject to enforceable master netting agreements 88.7 (27.0) 61.7 93.5 (33.8) 59.7 Total not subject to enforceable master netting agreements 1 3.7 – 3.7 4.9 – 4.9 Total 92.4 (27.0) 65.4 98.4 (33.8) 64.6 of which securities sold under repurchase agreements and securities lending transactions 46.9 (27.0) 19.9 2 60.3 (33.8) 26.5 2 of which obligation to return securities received as collateral, at fair value 45.5 0.0 45.5 38.1 0.0 38.1 1 Represents securities sold under repurchase agreements and securities lending transactions where a legal opinion supporting the enforceability of netting in the event of default or termination under the agreement is not in place. 2 CHF 9,457 million and CHF 15,262 million of the total net amount as of the end of 2Q18 and 4Q17, respectively, are reported at fair value. The following table presents the net amount presented in the consolidated balance sheets of financial assets and liabilities subject to enforceable master netting agreements and the gross amount of financial instruments and cash collateral not offset in the consolidated balance sheets. The table excludes derivatives, reverse repurchase and repurchase agreements and securities lending and borrowing transactions not subject to enforceable master netting agreements where a legal opinion supporting the enforceability of netting in the event of default or termination under the agreement is not in place. Net exposure reflects risk mitigation in the form of collateral. Amounts not offset in the consolidated balance sheets end of 2Q18 4Q17 1 Cash 1 1 Cash 1 Financial assets subject to enforceable master netting agreements (CHF billion) Derivatives 15.4 4.9 0.0 10.5 16.2 5.2 0.0 11.0 Securities purchased under resale agreements 62.7 62.7 0.0 0.0 60.6 60.6 0.0 0.0 Securities borrowing transactions 16.5 16.0 0.0 0.5 13.7 13.2 0.0 0.5 Total financial assets subject to enforceable master netting agreements 94.6 83.6 0.0 11.0 90.5 79.0 0.0 11.5 Financial liabilities subject to enforceable master netting agreements (CHF billion) Derivatives 10.6 1.7 0.0 8.9 9.6 2.1 0.0 7.5 Securities sold under repurchase agreements 14.2 14.2 0.0 0.0 17.9 17.9 0.0 0.0 Securities lending transactions 3.9 3.4 0.0 0.5 4.8 4.4 0.0 0.4 Obligation to return securities received as collateral, at fair value 43.6 39.2 0.0 4.4 37.0 32.7 0.0 4.3 Total financial liabilities subject to enforceable master netting agreements 72.3 58.5 0.0 13.8 69.3 57.1 0.0 12.2 1 The total amount reported in financial instruments (recognized financial assets and financial liabilities and non-cash financial collateral) and cash collateral is limited to the amount of the related instruments presented in the consolidated balance sheets and therefore any over-collateralization of these positions is not included. Net exposure is subject to further credit mitigation through the transfer of the exposure to other market counterparties by the use of credit default swaps (CDS) and credit insurance contracts. Therefore, the net exposure presented in the table above is not representative of the Group’s counterparty exposure. |
Bank | |
Offsetting of financial assets and financial liabilities | 22 Offsetting of financial assets and financial liabilities > Refer to “Note 23 – Offsetting of financial assets and financial liabilities” in III – Condensed consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q18 for further information. Offsetting of derivatives end of 6M18 2017 Derivative Derivative Derivative Derivative Gross derivatives subject to enforceable master netting agreements (CHF billion) OTC-cleared 3.7 3.4 2.5 1.8 OTC 71.7 66.9 83.3 79.0 Exchange-traded 0.3 0.4 0.1 0.2 Interest rate products 75.7 70.7 85.9 81.0 OTC-cleared 0.5 0.4 0.2 0.2 OTC 35.1 39.7 29.1 34.6 Exchange-traded 0.0 0.1 0.0 0.0 Foreign exchange products 35.6 40.2 29.3 34.8 OTC 11.2 10.7 11.7 12.0 Exchange-traded 9.9 11.8 9.2 9.8 Equity/index-related products 21.1 22.5 20.9 21.8 OTC-cleared 2.9 3.2 3.6 3.8 OTC 3.6 4.6 3.9 4.7 Credit derivatives 6.5 7.8 7.5 8.5 OTC 0.7 0.6 1.4 0.9 Other products 1 0.7 0.6 1.4 0.9 OTC-cleared 7.1 7.0 6.3 5.8 OTC 122.3 122.5 129.4 131.2 Exchange-traded 10.2 12.3 9.3 10.0 Total gross derivatives subject to enforceable master netting agreements 139.6 141.8 145.0 147.0 Offsetting (CHF billion) OTC-cleared (6.7) (6.8) (5.7) (5.4) OTC (108.0) (113.6) (114.5) (122.4) Exchange-traded (9.5) (10.8) (8.6) (9.6) Offsetting (124.2) (131.2) (128.8) (137.4) of which counterparty netting (109.8) (109.8) (113.8) (113.8) of which cash collateral netting (14.4) (21.4) (15.0) (23.6) Net derivatives presented in the consolidated balance sheets (CHF billion) OTC-cleared 0.4 0.2 0.6 0.4 OTC 14.3 8.9 14.9 8.8 Exchange-traded 0.7 1.5 0.7 0.4 Total net derivatives subject to enforceable master netting agreements 15.4 10.6 16.2 9.6 Total derivatives not subject to enforceable master netting agreements 2 4.3 4.6 3.7 5.2 Total net derivatives presented in the consolidated balance sheets 19.7 15.2 19.9 14.8 of which recorded in trading assets and trading liabilities 19.7 15.2 19.9 14.7 of which recorded in other assets and other liabilities 0.0 0.0 0.0 0.1 1 Primarily precious metals, commodity and energy products. 2 Represents derivatives where a legal opinion supporting the enforceability of netting in the event of default or termination under the agreement is not in place. Offsetting of securities purchased under resale agreements and securities borrowing transactions end of 6M18 2017 Net Net Securities purchased under resale agreements and securities borrowing transactions (CHF billion) Securities purchased under resale agreements 84.6 (21.9) 62.7 89.4 (28.8) 60.6 Securities borrowing transactions 21.6 (5.1) 16.5 18.7 (5.0) 13.7 Total subject to enforceable master netting agreements 106.2 (27.0) 79.2 108.1 (33.8) 74.3 Total not subject to enforceable master netting agreements 1 38.4 – 38.4 41.0 – 41.0 Total 144.6 (27.0) 117.6 2 149.1 (33.8) 115.3 2 1 Represents securities purchased under resale agreements and securities borrowing transactions where a legal opinion supporting the enforceability of netting in the event of default or termination under the agreement is not in place. 2 CHF 75,706 million and CHF 77,498 million of the total net amount as of 6M18 and 2017, respectively, are reported at fair value. Offsetting of securities sold under repurchase agreements and securities lending transactions end of 6M18 2017 Net Net Securities sold under repurchase agreements and securities lending transactions (CHF billion) Securities sold under repurchase agreements 38.9 (24.7) 14.2 49.4 (31.5) 17.9 Securities lending transactions 6.2 (2.3) 3.9 7.1 (2.3) 4.8 Obligation to return securities received as collateral, at fair value 43.6 0.0 43.6 37.0 0.0 37.0 Total subject to enforceable master netting agreements 88.7 (27.0) 61.7 93.5 (33.8) 59.7 Total not subject to enforceable master netting agreements 1 3.7 – 3.7 4.9 – 4.9 Total 92.4 (27.0) 65.4 98.4 (33.8) 64.6 of which securities sold under repurchase agreements and securities lending transactions 46.9 (27.0) 19.9 2 60.3 (33.8) 26.5 2 of which obligation to return securities received as collateral, at fair value 45.5 0.0 45.5 38.1 0.0 38.1 1 Represents securities sold under repurchase agreements and securities lending transactions where a legal opinion supporting the enforceability of netting in the event of default or termination under the agreement is not in place. 2 CHF 9,457 million and CHF 15,262 million of the total net amount as of 6M18 and 2017, respectively, are reported at fair value. Amounts not offset in the consolidated balance sheets end of 6M18 2017 1 Cash 1 1 Cash 1 Financial assets subject to enforceable master netting agreements (CHF billion) Derivatives 15.4 4.9 0.0 10.5 16.2 5.2 0.0 11.0 Securities purchased under resale agreements 62.7 62.7 0.0 0.0 60.6 60.6 0.0 0.0 Securities borrowing transactions 16.5 16.0 0.0 0.5 13.7 13.2 0.0 0.5 Total financial assets subject to enforceable master netting agreements 94.6 83.6 0.0 11.0 90.5 79.0 0.0 11.5 Financial liabilities subject to enforceable master netting agreements (CHF billion) Derivatives 10.6 1.7 0.0 8.9 9.6 2.1 0.0 7.5 Securities sold under repurchase agreements 14.2 14.2 0.0 0.0 17.9 17.9 0.0 0.0 Securities lending transactions 3.9 3.4 0.0 0.5 4.8 4.4 0.0 0.4 Obligation to return securities received as collateral, at fair value 43.6 39.2 0.0 4.4 37.0 32.7 0.0 4.3 Total financial liabilities subject to enforceable master netting agreements 72.3 58.5 0.0 13.8 69.3 57.1 0.0 12.2 1 The total amount reported in financial instruments (recognized financial assets and financial liabilities and non-cash financial collateral) and cash collateral is limited to the amount of the related instruments presented in the consolidated balance sheets and therefore any over-collateralization of these positions is not included. |
Tax
Tax | 6 Months Ended |
Jun. 30, 2018 | |
Tax | 24 Tax The 2Q18 income tax expense of CHF 398 million includes the impact of the ongoing re-assessment of the estimated annual effective tax rate as well as the impact of items that need to be recorded in the specific interim period in which they occur. Further details are outlined in the tax expense reconciliation below. Net deferred tax assets related to net operating losses, net deferred tax assets on temporary differences and net deferred tax liabilities are presented in the following manner. Nettable gross deferred tax liabilities are allocated on a pro-rata basis to gross deferred tax assets on net operating losses and gross deferred tax assets on temporary differences. This approach is aligned with the underlying treatment of netting gross deferred tax assets and liabilities under the Basel III framework. Valuation allowances have been allocated against such deferred tax assets on net operating losses first with any remainder allocated to such deferred tax assets on temporary differences. This presentation is considered the most appropriate disclosure given the underlying nature of the gross deferred tax balances. As of June 30, 2018, the Group had accumulated undistributed earnings from foreign subsidiaries of CHF 5.1 billion which are considered indefinitely reinvested. The Group would need to accrue and pay taxes on these undistributed earnings if such earnings were repatriated. No deferred tax liability was recorded in respect of those amounts as these earnings are considered indefinitely reinvested. It is not practicable to estimate the amount of unrecognized deferred tax liabilities for these undistributed foreign earnings. The Group is currently subject to ongoing tax audits, inquiries and litigation with the tax authorities in a number of jurisdictions, including Brazil, the Netherlands, the US, the UK and Switzerland. Although the timing of completion is uncertain, it is reasonably possible that some of these will be resolved within 12 months of the reporting date. It is reasonably possible that there will be a decrease between zero and CHF 20 million in unrecognized tax benefits within 12 months of the reporting date. The Group remains open to examination from federal, state, provincial or similar local jurisdictions from the following years onward in these major countries: Brazil – 2013; Switzerland – 2011; the US – 2010; the UK – 2009; and the Netherlands – 2006. Effective tax rate in 2Q18 1Q18 2Q17 6M18 6M17 Effective tax rate (%) 37.8 34.3 47.4 36.1 28.3 Tax expense reconciliation in 2Q18 CHF million Income tax expense computed at the Swiss statutory tax rate of 22% 231 Increase/(decrease) in income taxes resulting from Foreign tax rate differential (1) Other non-deductible expenses 120 Changes in deferred tax valuation allowance 13 Lower taxed income (34) (Windfall tax benefits)/shortfall tax charges on share-based compensation (5) Other 74 Income tax expense 398 Foreign tax rate differential 2Q18 included a foreign tax benefit of CHF 1 million in respect of earnings in lower tax jurisdictions, such as Singapore, partially offset by earnings in higher tax jurisdictions, such as the US. Other non-deductible expenses 2Q18 included the impact of CHF 116 million relating to the non-deductible interest expenses and non-deductible bank levy costs and CHF 4 million relating to other non-deductible expenses relating to a litigation matter. Changes in deferred tax valuation allowance 2Q18 included the impact of the increase of valuation allowances of CHF 67 million mainly in respect of two of the Group’s operating entities, one in the UK and one in Asia, and a decrease of valuation allowances of CHF 54 million mainly in respect of one of the Group’s operating entities in the UK related to estimated current year earnings. Lower taxed income 2Q18 primarily included the impacts of CHF 18 million related to non-taxable life insurance income and a beneficial earnings mix in one of the Group’s operating entities in Switzerland of CHF 14 million. Other 2Q18 included a tax expense of CHF 38 million from an adverse earnings mix in one of the Group’s operating entities in Switzerland, a tax expense of CHF 36 million relating to own-credit valuation movements and a tax expense of CHF 6 million relating to the increase of tax contingency accruals. The remaining balance included various smaller items. Net deferred tax assets end of 2Q18 1Q18 Net deferred tax assets (CHF million) Deferred tax assets 5,191 5,228 of which net operating losses 1,798 2,046 of which deductible temporary differences 3,393 3,182 Deferred tax liabilities (567) (461) Net deferred tax assets 4,624 4,767 |
Bank | |
Tax | 23 Tax The 6M18 income tax expense of CHF 629 million includes the impact of the estimated annual effective tax rate as well as the impact of items that need to be recorded in the specific interim period in which they occur. Further details are outlined in the tax expense reconciliation below. Net deferred tax assets related to net operating losses, net deferred tax assets on temporary differences and net deferred tax liabilities are presented in the following manner. Nettable gross deferred tax liabilities are allocated on a pro-rata basis to gross deferred tax assets on net operating losses and gross deferred tax assets on temporary differences. This approach is aligned with the underlying treatment of netting gross deferred tax assets and liabilities under the Basel III framework. Valuation allowances have been allocated against such deferred tax assets on net operating losses first with any remainder allocated to such deferred tax assets on temporary differences. This presentation is considered the most appropriate disclosure given the underlying nature of the gross deferred tax balances. As of June 30, 2018, the Bank had accumulated undistributed earnings from foreign subsidiaries of CHF 4.6 billion which are considered indefinitely reinvested. The Bank would need to accrue and pay taxes on these undistributed earnings if such earnings were repatriated. No deferred tax liability was recorded in respect of those amounts as these earnings are considered indefinitely reinvested. It is not practicable to estimate the amount of unrecognized deferred tax liabilities for these undistributed foreign earnings. The Bank is currently subject to ongoing tax audits. inquiries and litigation with the tax authorities in a number of jurisdictions, including Brazil, the Netherlands, the US, the UK and Switzerland. Although the timing of completion is uncertain, it is reasonably possible that some of these will be resolved within 12 months of the reporting date. It is reasonably possible that there will be a decrease between zero and CHF 20 million in unrecognized tax benefits within 12 months of the reporting date. The Bank remains open to examination from federal, state, provincial or similar local jurisdictions from the following years onward in these major countries: Brazil – 2013; Switzerland – 2011; the US – 2010; the UK – 2009; and the Netherlands – 2006. Effective tax rate in 6M18 6M17 Effective tax rate (%) 33.3 33.5 Tax expense reconciliation in 6M18 CHF million Income tax expense computed at the statutory tax rate of 22% 415 Increase/(decrease) in income taxes resulting from Foreign tax rate differential 4 Other non-deductible expenses 171 Changes in deferred tax valuation allowance 25 Lower taxed income (60) (Windfall tax benefits)/shortfall tax charges on share-based compensation (5) Other 79 Income tax expense 629 Foreign tax rate differential 6M18 included a foreign tax expense of CHF 4 million in respect of earnings in higher tax jurisdictions, such as the US, as well as earnings in lower tax jurisdictions, such as Singapore. Other non-deductible expenses 6M18 included the impact of CHF 167 million of non-deductible interest expenses and non-deductible bank levy costs and CHF 12 million relating to other non-deductible expenses relating to a litigation matter, partially offset by tax benefits on goodwill deductions of CHF 10 million. The remaining balance included various smaller items. Changes in deferred tax valuation allowance 6M18 included the impact of the increase of valuation allowances of CHF 109 million mainly in respect of two of the Bank’s operating entities in the UK, and a decrease of valuation allowances of CHF 84 million mainly in respect of one of the Bank’s operating entities in the UK, related to estimated current year earnings. Lower taxed income 6M18 primarily included the impacts of CHF 31 million related to non-taxable life insurance income, a beneficial earnings mix in one of the Bank’s operating entities in Switzerland of CHF 27 million. Other 6M18 included a tax charge of CHF 50 million associated with the deferred tax re-assessment in Switzerland, a tax expense of CHF 44 million from an adverse earnings mix in one of the Bank’s operating entities in Switzerland and a tax expense of CHF 6 million relating to the increase of tax contingency accruals. This was partially offset by a tax benefit on the favorable resolution of a tax litigation in Asia of CHF 15 million. The remaining balance included various smaller items. Net deferred tax assets end of 6M18 2017 Net deferred tax assets (CHF million) Deferred tax assets 5,114 5,457 of which net operating losses 1,782 2,200 of which deductible temporary differences 3,332 3,257 Deferred tax liabilities (255) (152) Net deferred tax assets 4,859 5,305 |
Employee deferred compensation
Employee deferred compensation | 6 Months Ended |
Jun. 30, 2018 | |
Employee deferred compensation | 25 Employee deferred compensation The Group’s current and previous deferred compensation plans include share awards, performance share awards, Contingent Capital Awards, Contingent Capital share awards, Capital Opportunity Facility awards and other cash awards. > Refer to “Note 28 – Employee deferred compensation” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2017 for further information. The following tables show the compensation expense for deferred compensation awards recognized in the consolidated statements of operations, the estimated unrecognized expense for deferred compensation awards granted in 2Q18 and prior periods and the remaining requisite service period over which the unrecognized expense will be recognized. The estimated unrecognized compensation expense was based on the fair value of each award on the grant date and included the current estimated outcome of relevant performance criteria and estimated future forfeitures but no estimate for future mark-to-market adjustments. Deferred compensation expense in 2Q18 1Q18 2Q17 6M18 6M17 Deferred compensation expense (CHF million) Share awards 130 148 130 278 276 Performance share awards 92 109 87 201 185 Contingent Capital Awards 42 52 65 94 150 Contingent Capital share awards 0 1 6 1 11 Capital Opportunity Facility awards 3 3 3 6 7 2008 Partner Asset Facility awards 1 0 0 0 0 7 Other cash awards 71 54 87 125 182 Total deferred compensation expense 338 367 378 705 818 1 Compensation expense mainly includes the change in underlying fair value of the indexed assets during the period. Estimated unrecognized deferred compensation end of 2Q18 Estimated unrecognized compensation expense (CHF million) Share awards 736 Performance share awards 363 Contingent Capital Awards 244 Contingent Capital share awards 1 Other cash awards 284 Total 1,628 Weighted-average requisite service period (years) Aggregate remaining weighted-average requisite service period 1.3 2Q18 activity In 2Q18, the Group granted deferred fixed cash compensation of CHF 98 million to certain employees in the Americas. This compensation will be expensed in the Global Markets, Investment Banking & Capital Markets and International Wealth Management divisions over a three-year period from the grant date. Amortization of this compensation totaled CHF 33 million in 2Q18. Share-based award activity 2Q18 6M18 Performance Contingent Performance Contingent Share-based award activities Balance at beginning of period 119.0 80.1 8.4 84.9 54.2 8.4 Granted 0.9 0.0 0.0 38.5 26.5 0.0 Settled (33.8) (25.9) (4.8) (36.6) (25.9) (4.8) Forfeited (0.6) (0.2) 0.0 (1.3) (0.8) 0.0 Balance at end of period 85.5 54.0 3.6 85.5 54.0 3.6 of which vested 8.7 3.8 0.6 8.7 3.8 0.6 of which unvested 76.8 50.2 3.0 76.8 50.2 3.0 |
Bank | |
Employee deferred compensation | 24 Employee deferred compensation > Refer to “Note 25 – Employee deferred compensation” in III – Condensed consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q18 and “Note 27 – Employee deferred compensation” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2017 for further information. Deferred compensation expense in 6M18 6M17 Deferred compensation expense (CHF million) Share awards 270 274 Performance share awards 195 183 Contingent Capital Awards 92 150 Contingent Capital share awards 1 11 Capital Opportunity Facility awards 6 7 2008 Partner Asset Facility awards 1 0 7 Other cash awards 119 172 Total deferred compensation expense 683 804 1 Compensation expense mainly includes the change in underlying fair value of the indexed assets during the period. Estimated unrecognized deferred compensation end of 6M18 Estimated unrecognized compensation expense (CHF million) Share awards 716 Performance share awards 350 Contingent Capital Awards 241 Contingent Capital share awards 1 Other cash awards 271 Total 1,579 Weighted-average requisite service period (years) Aggregate remaining weighted-average requisite service period 1.3 6M18 activity In 6M18, the Bank granted share awards, performance share awards and Contingent Capital Awards (CCA) as part of the 2017 deferred variable compensation. Expense recognition for these awards began in 6M18 and will continue over the remaining service or vesting period of each respective award. Share awards In 6M18, the Bank granted 37.1 million share awards at a weighted-average share price of CHF 17.11. Each share award granted entitles the holder of the award to receive one Group share, subject to service conditions. Share awards vest over three years with one third of the share awards vesting on each of the three anniversaries of the grant date (ratable vesting), with the exception of awards granted to individuals classified as risk managers or senior managers under the UK Prudential Regulatory Authority (PRA) Remuneration Code. Share awards granted to risk managers vest over five years with one fifth of the award vesting on each of the five anniversaries of the grant date, while share awards granted to senior managers vest over five years commencing on the third anniversary of the grant date, with one fifth of the award vesting on each of the third to seventh anniversaries of the grant date. Share awards are expensed over the service period of the awards. Performance share awards In 6M18, the Bank granted 25.6 million performance share awards at a weighted-average share price of CHF 16.98. Performance share awards are similar to share awards, except that the full balance of outstanding performance share awards, including those awarded in prior years, are subject to performance-based malus provisions. Contingent Capital Awards In 6M18, the Bank awarded CHF 233 million of CCA. CCA are scheduled to vest on the third anniversary of the grant date, other than those granted to individuals classified as risk managers or senior managers under the UK PRA Remuneration Code, where CCA vest on the fifth and seventh anniversaries of the grant date, respectively, and will be expensed over the vesting period. Special cash awards In 6M18, the Bank granted fixed deferred cash compensation of CHF 98 million to certain employees in the Americas. This compensation will be expensed in the Global Markets, Investment Banking & Capital Markets and International Wealth Management divisions over a three-year period from the grant date. Amortization of this compensation totaled CHF 33 million in 6M18. Share-based award activity 6M18 Performance Contingent Share-based award activities Balance at beginning of period 79.9 52.8 7.5 Granted 37.1 25.6 0.0 Settled (35.3) (25.4) (4.7) Forfeited (1.1) (0.8) 0.0 Balance at end of period 80.6 52.2 2.8 of which vested 8.3 3.7 0.6 of which unvested 72.3 48.5 2.2 |
Pension and other post-retireme
Pension and other post-retirement benefits | 6 Months Ended |
Jun. 30, 2018 | |
Pension and other post-retirement benefits | 26 Pension and other post-retirement benefits The Group sponsors defined contribution pension plans, defined benefit pension plans and other post-retirement defined benefit plans. > Refer to “Note 30 – Pension and other post-retirement benefits” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2017 for further information. The Group expects to contribute CHF 432 million to the Swiss and international defined benefit plans and other post-retirement defined benefit plans in 2018. As of the end of 2Q18, CHF 251 million of contributions have been made. Components of net periodic benefit costs in 2Q18 1Q18 2Q17 6M18 6M17 Net periodic benefit costs/(credits) (CHF million) Service costs on benefit obligation 65 65 67 130 133 Interest costs on benefit obligation 39 39 36 78 73 Expected return on plan assets (150) (149) (151) (299) (303) Amortization of recognized prior service cost/(credit) (31) (32) (33) (63) (65) Amortization of recognized actuarial losses 90 89 100 179 201 Settlement losses/(gains) 0 (1) 0 (1) (1) Curtailment losses/(gains) (6) (7) (8) (13) (26) Special termination benefits 10 7 4 17 4 Net periodic benefit costs 17 11 15 28 16 Service costs on benefit obligation are reflected in compensation and benefits and restructuring expenses. Other components of net periodic benefit costs are reflected in general and administrative expenses and restructuring expenses. |
Bank | |
Pension and other post-retirement benefits | 25 Pension and other post-retirement benefits > Refer to “Note 29 – Pension and other post-retirement benefits” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2017 for further information. The Bank expects to contribute CHF 27 million to the international single-employer defined benefit pension plans and other post-retirement defined benefit plans in 2018. As of the end of 6M18, CHF 14 million of contributions had been made. Components of net periodic benefit costs in 6M18 6M17 Net periodic benefit costs/(credits) (CHF million) Service costs on benefit obligation 8 11 Interest costs on benefit obligation 47 48 Expected return on plan assets (58) (66) Amortization of recognized actuarial losses 26 31 Curtailment losses/(gains) 0 (5) Net periodic benefit costs 23 19 Service costs on benefit obligation are reflected in compensation and benefits and restructuring expenses. Other components of net periodic benefit costs are reflected in general and administrative expenses and restructuring expenses. |
Derivatives and hedging activit
Derivatives and hedging activities | 6 Months Ended |
Jun. 30, 2018 | |
Derivatives and hedging activities | 27 Derivatives and hedging activities > Refer to “Note 31 – Derivatives and hedging activities” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2017 for further information. Fair value of derivative instruments The tables below present gross derivative replacement values by type of contract and balance sheet location and whether the derivative is used for trading purposes or in a qualifying hedging relationship. Notional amounts have also been provided as an indication of the volume of derivative activity within the Group. Information on bifurcated embedded derivatives has not been included in these tables. Under US GAAP, the Group elected to account for substantially all financial instruments with an embedded derivative that is not considered clearly and closely related to the host contract at fair value. > Refer to “Note 30 – Financial instruments” for further information. Fair value of derivative instruments Trading Hedging 1 Positive Negative Positive Negative Derivative instruments (CHF billion) Forwards and forward rate agreements 10,168.2 2.4 2.5 0.0 0.0 0.0 Swaps 14,920.1 53.0 49.0 49.5 0.1 0.2 Options bought and sold (OTC) 2,584.0 20.6 19.7 0.0 0.0 0.0 Futures 788.1 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 1,236.7 0.3 0.4 0.0 0.0 0.0 Interest rate products 29,697.1 76.3 71.6 49.5 0.1 0.2 Forwards 1,289.5 13.4 14.0 12.6 0.1 0.0 Swaps 526.9 17.8 21.2 0.0 0.0 0.0 Options bought and sold (OTC) 439.8 5.8 6.0 0.7 0.0 0.0 Futures 10.3 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 4.2 0.0 0.1 0.0 0.0 0.0 Foreign exchange products 2,270.7 37.0 41.3 13.3 0.1 0.0 Forwards 2.3 0.1 0.1 0.0 0.0 0.0 Swaps 187.7 4.1 4.6 0.0 0.0 0.0 Options bought and sold (OTC) 224.0 8.0 7.3 0.0 0.0 0.0 Futures 37.9 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 410.7 10.0 12.0 0.0 0.0 0.0 Equity/index-related products 862.6 22.2 24.0 0.0 0.0 0.0 Credit derivatives 2 462.6 6.7 8.1 0.0 0.0 0.0 Forwards 6.0 0.0 0.0 0.0 0.0 0.0 Swaps 18.7 1.3 1.0 0.0 0.0 0.0 Options bought and sold (OTC) 8.2 0.1 0.1 0.0 0.0 0.0 Futures 12.5 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 1.3 0.0 0.0 0.0 0.0 0.0 Other products 3 46.7 1.4 1.1 0.0 0.0 0.0 Total derivative instruments 33,339.7 143.6 146.1 62.8 0.2 0.2 The notional amount, PRV and NRV (trading and hedging) was CHF 33,402.5 billion, CHF 143.8 billion and CHF 146.3 billion, respectively, as of June 30, 2018. 1 Relates to derivative contracts that qualify for hedge accounting under US GAAP. 2 Primarily credit default swaps. 3 Primarily precious metals, commodity and energy products. Fair value of derivative instruments (continued) Trading Hedging 1 Positive Negative Positive Negative Derivative instruments (CHF billion) Forwards and forward rate agreements 8,509.3 1.2 1.2 0.0 0.0 0.0 Swaps 13,047.8 60.4 56.6 46.8 0.2 0.2 Options bought and sold (OTC) 2,374.5 25.2 24.0 0.0 0.0 0.0 Futures 547.8 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 419.2 0.2 0.3 0.0 0.0 0.0 Interest rate products 24,898.6 87.0 82.1 46.8 0.2 0.2 Forwards 1,387.9 10.7 11.1 13.3 0.0 0.2 Swaps 581.1 15.2 19.9 0.0 0.0 0.0 Options bought and sold (OTC) 414.8 4.6 4.8 2.1 0.0 0.0 Futures 13.0 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 5.4 0.0 0.0 0.0 0.0 0.0 Foreign exchange products 2,402.2 30.5 35.8 15.4 0.0 0.2 Forwards 0.9 0.0 0.1 0.0 0.0 0.0 Swaps 198.7 3.8 4.9 0.0 0.0 0.0 Options bought and sold (OTC) 221.3 8.3 7.9 0.0 0.0 0.0 Futures 32.8 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 373.2 9.3 10.3 0.0 0.0 0.0 Equity/index-related products 826.9 21.4 23.2 0.0 0.0 0.0 Credit derivatives 2 524.9 7.7 8.9 0.0 0.0 0.0 Forwards 7.0 0.0 0.1 0.0 0.0 0.0 Swaps 17.9 1.5 1.4 0.0 0.0 0.0 Options bought and sold (OTC) 10.1 0.1 0.0 0.0 0.0 0.0 Futures 15.6 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 2.1 0.0 0.0 0.0 0.0 0.0 Other products 3 52.7 1.6 1.5 0.0 0.0 0.0 Total derivative instruments 28,705.3 148.2 151.5 62.2 0.2 0.4 The notional amount, PRV and NRV (trading and hedging) was CHF 28,767.5 billion, CHF 148.4 billion and CHF 151.9 billion, respectively, as of December 31, 2017. 1 Relates to derivative contracts that qualify for hedge accounting under US GAAP. 2 Primarily credit default swaps. 3 Primarily precious metals, commodity and energy products. Netting of derivative instruments > Refer to “Derivatives” in Note 23 – Offsetting of financial assets and financial liabilities for further information on the netting of derivative instruments. Fair value hedges in 2Q18 1Q18 2Q17 6M18 6M17 Gains/(losses) recognized in income on derivatives (CHF million) Interest rate products (106) (649) 282 (755) 31 Total (106) (649) 282 (755) 31 Gains/(losses) recognized in income on hedged items (CHF million) Interest rate products 100 690 (301) 790 (44) Total 100 690 (301) 790 (44) Details of fair value hedges (CHF million) Net gains/(losses) on the ineffective portion (6) 41 (19) 35 (13) Represents gains/(losses) recognized in trading revenues. Cash flow hedges in 2Q18 1Q18 2Q17 6M18 6M17 Gains/(losses) recognized in AOCI on derivatives (CHF million) Interest rate products (31) (61) 8 (92) 1 Foreign exchange products (79) 3 (26) (76) (30) Total (110) (58) (18) (168) (29) Gains/(losses) reclassified from AOCI into income (CHF million) Interest rate products 1 (24) (16) (2) (40) (2) Foreign exchange products 2,3 (42) 0 (16) (42) (20) Total (66) (16) (18) (82) (22) Details of cash flow hedges (CHF million) Net gains/(losses) on the ineffective portion 2 (1) (1) (2) (2) 1 Represents gains/(losses) on effective portion. 1 Included in interest and dividend income. 2 Included in trading revenues. 3 Included in other revenues. As of the end of 2Q18, the maximum length of time over which the Group hedged its exposure to the variability in future cash flows for forecasted transactions, excluding those forecasted transactions related to the payment of variable interest on existing financial instruments, was four years. The net loss associated with cash flow hedges expected to be reclassified from AOCI within the next 12 months is CHF 64 million. Net investment hedges in 2Q18 1Q18 2Q17 6M18 6M17 Gains/(losses) recognized in AOCI on derivatives (CHF million) Foreign exchange products 141 17 133 158 (54) Total 141 17 133 158 (54) Represents gains/(losses) on effective portion. The Group includes all derivative instruments not included in hedge accounting relationships in its trading activities. > Refer to “Note 7 – Trading revenues” for gains and losses on trading activities by product type. Disclosures relating to contingent credit risk Certain of the Group’s derivative instruments contain provisions that require it to maintain a specified credit rating from each of the major credit rating agencies. If the ratings fall below the level specified in the contract, the counterparties to the agreements could request payment of additional collateral on those derivative instruments that are in a net liability position. Certain of the derivative contracts also provide for termination of the contract, generally upon a downgrade of either the Group or the counterparty. Such derivative contracts are reflected at close-out costs. The following table provides the Group’s current net exposure from contingent credit risk relating to derivative contracts with bilateral counterparties and SPEs that include credit support agreements, the related collateral posted and the additional collateral required in a one-notch, two-notch and a three-notch downgrade event, respectively. The table also includes derivative contracts with contingent credit risk features without credit support agreements that have accelerated termination event conditions. The current net exposure for derivative contracts with bilateral counterparties and contracts with accelerated termination event conditions is the aggregate fair value of derivative instruments that were in a net liability position. For SPEs, the current net exposure is the contractual amount that is used to determine the collateral payable in the event of a downgrade. The contractual amount could include both the NRV and a percentage of the notional value of the derivative. Contingent credit risk end of 2Q18 4Q17 Special Special Contingent credit risk (CHF billion) Current net exposure 4.3 0.1 0.9 5.3 5.4 0.1 1.2 6.7 Collateral posted 3.3 0.1 – 3.4 4.4 0.1 – 4.5 Impact of a one-notch downgrade event 0.2 0.0 0.0 0.2 0.2 0.1 0.1 0.4 Impact of a two-notch downgrade event 0.8 0.2 0.3 1.3 0.9 0.2 0.5 1.6 Impact of a three-notch downgrade event 0.9 0.3 0.5 1.7 1.0 0.4 0.7 2.1 The impact of a downgrade event reflects the amount of additional collateral required for bilateral counterparties and special purpose entities and the amount of additional termination expenses for accelerated terminations, respectively. Credit derivatives > Refer to “Note 31 – Derivatives and hedging activities” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2017 for further information on credit derivatives. Credit protection sold/purchased The following tables do not include all credit derivatives and differ from the credit derivatives in the “Fair value of derivative instruments” tables. This is due to the exclusion of certain credit derivative instruments under US GAAP, which defines a credit derivative as a derivative instrument (a) in which one or more of its underlyings are related to the credit risk of a specified entity (or a group of entities) or an index based on the credit risk of a group of entities and (b) that exposes the seller to potential loss from credit risk-related events specified in the contract. Total return swaps (TRS) of CHF 10.2 billion and CHF 6.7 billion as of the end of 2Q18 and 4Q17, respectively, were also excluded because a TRS does not expose the seller to potential loss from credit risk-related events specified in the contract. A TRS only provides protection against a loss in asset value and not against additional amounts as a result of specific credit events. Credit protection sold/purchased end of 2Q18 4Q17 1 Net credit Fair value 1 Net credit Fair value Single-name instruments (CHF billion) Investment grade 2 (49.5) 46.3 (3.2) 14.7 0.5 (57.6) 53.8 (3.8) 15.3 0.9 Non-investment grade (26.0) 23.0 (3.0) 16.4 0.1 (28.2) 25.5 (2.7) 14.3 0.5 Total single-name instruments (75.5) 69.3 (6.2) 31.1 0.6 (85.8) 79.3 (6.5) 29.6 1.4 of which sovereign (17.8) 16.1 (1.7) 5.9 (0.3) (21.0) 19.2 (1.8) 6.2 0.2 of which non-sovereign (57.7) 53.2 (4.5) 25.2 0.9 (64.8) 60.1 (4.7) 23.4 1.2 Multi-name instruments (CHF billion) Investment grade 2 (94.5) 92.3 (2.2) 41.1 0.0 (107.1) 104.7 (2.4) 59.3 0.7 Non-investment grade (20.3) 20.1 (0.2) 8.2 3 0.7 (21.0) 19.6 (1.4) 12.0 3 0.9 Total multi-name instruments (114.8) 112.4 (2.4) 49.3 0.7 (128.1) 124.3 (3.8) 71.3 1.6 of which sovereign (0.2) 0.2 0.0 0.0 0.0 (0.3) 0.3 0.0 0.3 0.0 of which non-sovereign (114.6) 112.2 (2.4) 49.3 0.7 (127.8) 124.0 (3.8) 71.0 1.6 Total instruments (CHF billion) Investment grade 2 (144.0) 138.6 (5.4) 55.8 0.5 (164.7) 158.5 (6.2) 74.6 1.6 Non-investment grade (46.3) 43.1 (3.2) 24.6 0.8 (49.2) 45.1 (4.1) 26.3 1.4 Total instruments (190.3) 181.7 (8.6) 80.4 1.3 (213.9) 203.6 (10.3) 100.9 3.0 of which sovereign (18.0) 16.3 (1.7) 5.9 (0.3) (21.3) 19.5 (1.8) 6.5 0.2 of which non-sovereign (172.3) 165.4 (6.9) 74.5 1.6 (192.6) 184.1 (8.5) 94.4 2.8 1 Represents credit protection purchased with identical underlyings and recoveries. 2 Based on internal ratings of BBB and above. 3 Includes synthetic securitized loan portfolios. Credit protection sold Credit protection sold is the maximum potential payout, which is based on the notional value of derivatives and represents the amount of future payments that the Group would be required to make as a result of credit risk-related events. Credit protection purchased Credit protection purchased represents those instruments where the underlying reference instrument is identical to the reference instrument of the credit protection sold. Other protection purchased In the normal course of business, the Group purchases protection to offset the risk of credit protection sold that may have similar, but not identical, reference instruments and may use similar, but not identical, products, which reduces the total credit derivative exposure. Other protection purchased is based on the notional value of the instruments. Fair value of credit protection sold The fair values of the credit protection sold give an indication of the amount of payment risk, as the negative fair values increase when the potential payment under the derivative contracts becomes more probable. The following table reconciles the notional amount of credit derivatives included in the table “Fair value of derivative instruments” to the table “Credit protection sold/purchased”. Credit derivatives end of 2Q18 4Q17 Credit derivatives (CHF billion) Credit protection sold 190.3 213.9 Credit protection purchased 181.7 203.6 Other protection purchased 80.4 100.9 Other instruments 1 10.2 6.5 Total credit derivatives 462.6 524.9 1 Consists of total return swaps and other derivative instruments. The segregation of the future payments by maturity range and underlying risk gives an indication of the current status of the potential for performance under the derivative contracts. Maturity of credit protection sold Maturity Maturity Maturity 2Q18 (CHF billion) Single-name instruments 14.4 56.7 4.4 75.5 Multi-name instruments 23.7 71.0 20.1 114.8 Total instruments 38.1 127.7 24.5 190.3 4Q17 (CHF billion) Single-name instruments 21.6 59.4 4.8 85.8 Multi-name instruments 31.2 79.9 17.0 128.1 Total instruments 52.8 139.3 21.8 213.9 |
Bank | |
Derivatives and hedging activities | 26 Derivatives and hedging activities > Refer to “Note 30 – Derivatives and hedging activities” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2017 for further information. Fair value of derivative instruments The tables below present gross derivative replacement values by type of contract and balance sheet location and whether the derivative is used for trading purposes or in a qualifying hedging relationship. Notional amounts have also been provided as an indication of the volume of derivative activity within the Bank. Information on bifurcated embedded derivatives has not been included in these tables. Under US GAAP, the Bank elected to account for substantially all financial instruments with an embedded derivative that is not considered clearly and closely related to the host contract at fair value. > Refer to “Note 29 – Financial instruments” for further information. Fair value of derivative instruments Trading Hedging 1 Positive Negative Positive Negative Derivative instruments (CHF billion) Forwards and forward rate agreements 10,168.2 2.4 2.5 0.0 0.0 0.0 Swaps 14,921.1 53.0 49.0 49.5 0.1 0.2 Options bought and sold (OTC) 2,584.0 20.6 19.7 0.0 0.0 0.0 Futures 788.1 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 1,236.7 0.3 0.4 0.0 0.0 0.0 Interest rate products 29,698.1 76.3 71.6 49.5 0.1 0.2 Forwards 1,289.5 13.4 14.0 12.6 0.1 0.0 Swaps 526.9 17.8 21.2 0.0 0.0 0.0 Options bought and sold (OTC) 439.8 5.8 6.0 0.7 0.0 0.0 Futures 10.3 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 4.2 0.0 0.1 0.0 0.0 0.0 Foreign exchange products 2,270.7 37.0 41.3 13.3 0.1 0.0 Forwards 2.3 0.1 0.1 0.0 0.0 0.0 Swaps 187.7 4.1 4.6 0.0 0.0 0.0 Options bought and sold (OTC) 224.2 8.1 7.4 0.0 0.0 0.0 Futures 37.9 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 410.7 10.0 12.0 0.0 0.0 0.0 Equity/index-related products 862.8 22.3 24.1 0.0 0.0 0.0 Credit derivatives 2 462.6 6.7 8.1 0.0 0.0 0.0 Forwards 6.0 0.0 0.0 0.0 0.0 0.0 Swaps 18.7 1.3 1.0 0.0 0.0 0.0 Options bought and sold (OTC) 8.2 0.1 0.1 0.0 0.0 0.0 Futures 12.5 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 1.3 0.0 0.0 0.0 0.0 0.0 Other products 3 46.7 1.4 1.1 0.0 0.0 0.0 Total derivative instruments 33,340.9 143.7 146.2 62.8 0.2 0.2 The notional amount, PRV and NRV (trading and hedging) was CHF 33,403.7 billion, CHF 143.9 billion and CHF 146.4 billion, respectively, as of June 30, 2018. 1 Relates to derivative contracts that qualify for hedge accounting under US GAAP. 2 Primarily credit default swaps. 3 Primarily precious metals, commodity and energy products. Fair value of derivative instruments (continued) Trading Hedging 1 Positive Negative Positive Negative Derivative instruments (CHF billion) Forwards and forward rate agreements 8,509.3 1.2 1.2 0.0 0.0 0.0 Swaps 13,048.8 60.4 56.3 46.8 0.2 0.2 Options bought and sold (OTC) 2,374.5 25.2 24.0 0.0 0.0 0.0 Futures 547.8 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 419.2 0.2 0.3 0.0 0.0 0.0 Interest rate products 24,899.6 87.0 81.8 46.8 0.2 0.2 Forwards 1,387.9 10.7 11.1 13.3 0.0 0.2 Swaps 581.1 15.2 19.9 0.0 0.0 0.0 Options bought and sold (OTC) 414.8 4.6 4.8 2.1 0.0 0.0 Futures 13.0 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 5.4 0.0 0.0 0.0 0.0 0.0 Foreign exchange products 2,402.2 30.5 35.8 15.4 0.0 0.2 Forwards 0.9 0.0 0.1 0.0 0.0 0.0 Swaps 199.1 3.8 4.9 0.0 0.0 0.0 Options bought and sold (OTC) 221.8 8.6 8.5 0.0 0.0 0.0 Futures 32.8 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 373.2 9.3 10.3 0.0 0.0 0.0 Equity/index-related products 827.8 21.7 23.8 0.0 0.0 0.0 Credit derivatives 2 524.9 7.7 8.9 0.0 0.0 0.0 Forwards 7.0 0.0 0.1 0.0 0.0 0.0 Swaps 17.9 1.5 1.4 0.0 0.0 0.0 Options bought and sold (OTC) 10.1 0.1 0.0 0.0 0.0 0.0 Futures 15.6 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 2.1 0.0 0.0 0.0 0.0 0.0 Other products 3 52.7 1.6 1.5 0.0 0.0 0.0 Total derivative instruments 28,707.2 148.5 151.8 62.2 0.2 0.4 The notional amount, PRV and NRV (trading and hedging) was CHF 28,769.4 billion, CHF 148.7 billion and CHF 152.2 billion, respectively, as of December 31, 2017. 1 Relates to derivative contracts that qualify for hedge accounting under US GAAP. 2 Primarily credit default swaps. 3 Primarily precious metals, commodity and energy products. Netting of derivative instruments > Refer to “Note 22 – Offsetting of financial assets and financial liabilities” for further information on the offsetting of derivative instruments. Fair value hedges in 6M18 6M17 Gains/(losses) recognized in income on derivatives (CHF million) Interest rate products (755) 31 Total (755) 31 Gains/(losses) recognized in income on hedged items (CHF million) Interest rate products 790 (44) Total 790 (44) Details of fair value hedges (CHF million) Net gains/(losses) on the ineffective portions 35 (13) Represents gains/(losses) recognized in trading revenues. Cash flow hedges in 6M18 6M17 Gains/(losses) recognized in AOCI on derivatives (CHF million) Interest rate products (92) 1 Foreign exchange products (73) (30) Total (165) (29) Gains/(losses) reclassified from AOCI into income (CHF million) Interest rate products 1 (40) (2) Foreign exchange products 2 (39) (17) Total (79) (19) Details of cash flow hedges (CHF million) Net gains/(losses) on the ineffective portions 2 (2) 1 1 Included in interest and dividend income. 2 Included in trading revenues. As of the end of 6M18, the maximum length of time over which the Bank hedged its exposure to the variability in future cash flows for forecasted transactions, excluding those forecasted transactions related to the payment of variable interest on existing financial instruments, was four years. The net loss associated with cash flow hedges expected to be reclassified from accumulated other comprehensive income (AOCI) within the next 12 months was CHF 54 million. Net investment hedges in 6M18 6M17 Gains/(losses) recognized in AOCI on derivatives (CHF million) Foreign exchange products 158 (54) Total 158 (54) Represents gains/(losses) on effective portion. The Bank includes all derivative instruments not included in hedge accounting relationships in its trading activities. > Refer to “Note 7 – Trading revenues” for gains and losses on trading activities by product type. Disclosures relating to contingent credit risk The following table provides the Bank’s current net exposure from contingent credit risk relating to derivative contracts with bilateral counterparties and special purpose entities (SPEs) that include credit support agreements, the related collateral posted and the additional collateral required in a one-notch, two-notch and a three-notch downgrade event, respectively. The table also includes derivative contracts with contingent credit risk features without credit support agreements that have accelerated termination event conditions. The current net exposure for derivative contracts with bilateral counterparties and contracts with accelerated termination event conditions is the aggregate fair value of derivative instruments that were in a net liability position. For SPEs, the current net exposure is the contractual amount that is used to determine the collateral payable in the event of a downgrade. The contractual amount could include both the NRV and a percentage of the notional value of the derivative. Contingent credit risk end of 6M18 2017 Special Special Contingent credit risk (CHF billion) Current net exposure 4.3 0.1 0.9 5.3 5.4 0.1 1.2 6.7 Collateral posted 3.3 0.1 – 3.4 4.4 0.1 – 4.5 Impact of a one-notch downgrade event 0.2 0.0 0.0 0.2 0.2 0.1 0.1 0.4 Impact of a two-notch downgrade event 0.8 0.2 0.3 1.3 0.9 0.2 0.5 1.6 Impact of a three-notch downgrade event 0.9 0.3 0.5 1.7 1.0 0.4 0.7 2.1 The impact of a downgrade event reflects the amount of additional collateral required for bilateral counterparties and special purpose entities and the amount of additional termination expenses for accelerated terminations, respectively. Credit derivatives > Refer to “Note 30 – Derivatives and hedging activities” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2017 for further information on credit derivatives. Credit protection sold/purchased The following tables do not include all credit derivatives and differ from the credit derivatives in the “Fair value of derivative instruments” tables. This is due to the exclusion of certain credit derivative instruments under US GAAP, which defines a credit derivative as a derivative instrument (a) in which one or more of its underlyings are related to the credit risk of a specified entity (or a group of entities) or an index based on the credit risk of a group of entities and (b) that exposes the seller to potential loss from credit risk-related events specified in the contract. Total return swaps (TRS) of CHF 10.2 billion and CHF 6.7 billion as of the end of 6M18 and 2017, respectively, were also excluded because a TRS does not expose the seller to potential loss from credit risk-related events specified in the contract. A TRS only provides protection against a loss in asset value and not against additional amounts as a result of specific credit events. Credit protection sold/purchased end of 6M18 2017 1 Net credit Fair value 1 Net credit Fair value Single-name instruments (CHF billion) Investment grade 2 (49.5) 46.3 (3.2) 14.7 0.5 (57.6) 53.8 (3.8) 15.3 0.9 Non-investment grade (26.0) 23.0 (3.0) 16.4 0.1 (28.2) 25.5 (2.7) 14.3 0.5 Total single-name instruments (75.5) 69.3 (6.2) 31.1 0.6 (85.8) 79.3 (6.5) 29.6 1.4 of which sovereign (17.8) 16.1 (1.7) 5.9 (0.3) (21.0) 19.2 (1.8) 6.2 0.2 of which non-sovereign (57.7) 53.2 (4.5) 25.2 0.9 (64.8) 60.1 (4.7) 23.4 1.2 Multi-name instruments (CHF billion) Investment grade 2 (94.5) 92.3 (2.2) 41.1 0.0 (107.1) 104.7 (2.4) 59.3 0.7 Non-investment grade (20.3) 20.1 (0.2) 8.2 3 0.7 (21.0) 19.6 (1.4) 12.0 3 0.9 Total multi-name instruments (114.8) 112.4 (2.4) 49.3 0.7 (128.1) 124.3 (3.8) 71.3 1.6 of which sovereign (0.2) 0.2 0.0 0.0 0.0 (0.3) 0.3 0.0 0.3 0.0 of which non-sovereign (114.6) 112.2 (2.4) 49.3 0.7 (127.8) 124.0 (3.8) 71.0 1.6 Total instruments (CHF billion) Investment grade 2 (144.0) 138.6 (5.4) 55.8 0.5 (164.7) 158.5 (6.2) 74.6 1.6 Non-investment grade (46.3) 43.1 (3.2) 24.6 0.8 (49.2) 45.1 (4.1) 26.3 1.4 Total instruments (190.3) 181.7 (8.6) 80.4 1.3 (213.9) 203.6 (10.3) 100.9 3.0 of which sovereign (18.0) 16.3 (1.7) 5.9 (0.3) (21.3) 19.5 (1.8) 6.5 0.2 of which non-sovereign (172.3) 165.4 (6.9) 74.5 1.6 (192.6) 184.1 (8.5) 94.4 2.8 1 Represents credit protection purchased with identical underlyings and recoveries. 2 Based on internal ratings of BBB and above. 3 Includes synthetic securitized loan portfolios. The following table reconciles the notional amount of credit derivatives included in the table “Fair value of derivative instruments” to the table “Credit protection sold/purchased”. Credit derivatives end of 6M18 2017 Credit derivatives (CHF billion) Credit protection sold 190.3 213.9 Credit protection purchased 181.7 203.6 Other protection purchased 80.4 100.9 Other instruments 1 10.2 6.5 Total credit derivatives 462.6 524.9 1 Consists of total return swaps and other derivative instruments. Maturity of credit protection sold Maturity Maturity Maturity 6M18 (CHF billion) Single-name instruments 14.4 56.7 4.4 75.5 Multi-name instruments 23.7 71.0 20.1 114.8 Total instruments 38.1 127.7 24.5 190.3 2017 (CHF billion) Single-name instruments 21.6 59.4 4.8 85.8 Multi-name instruments 31.2 79.9 17.0 128.1 Total instruments 52.8 139.3 21.8 213.9 |
Guarantees and commitments
Guarantees and commitments | 6 Months Ended |
Jun. 30, 2018 | |
Guarantees and commitments | 28 Guarantees and commitments Guarantees In the ordinary course of business, guarantees are provided that contingently obligate the Group to make payments to third parties if the counterparty fails to fulfill its obligation under a borrowing or other contractual arrangement. The total gross amount disclosed within the Guarantees table reflects the maximum potential payment under the guarantees. The carrying value represents the higher of the initial fair value (generally the related fee received or receivable) less cumulative amortization and the Group’s current best estimate of payments that will be required under existing guarantee arrangements. Guarantees provided by the Group are classified as follows: credit guarantees and similar instruments, performance guarantees and similar instruments, derivatives and other guarantees. The Group no longer provides guarantees for securities lending indemnifications. > Refer to “Guarantees” in VI – Consolidated financial statements – Credit Suisse Group – Note 32 – Guarantees and commitments in the Credit Suisse Annual Report 2017 for a detailed description of guarantees. Guarantees Maturity Maturity Total Total 1 2Q18 (CHF million) Credit guarantees and similar instruments 2,212 1,135 3,347 3,134 3 1,554 Performance guarantees and similar instruments 5,066 1,971 7,037 6,095 47 2,809 Derivatives 2 18,267 6,219 24,486 24,486 445 – 3 Other guarantees 4,977 2,097 7,074 7,066 54 4,255 Total guarantees 30,522 11,422 41,944 40,781 549 8,618 4Q17 (CHF million) Credit guarantees and similar instruments 1,817 1,269 3,086 2,837 12 1,603 Performance guarantees and similar instruments 4,931 2,212 7,143 6,216 44 3,012 Derivatives 2 15,520 8,984 24,504 24,504 403 – 3 Other guarantees 4,461 2,217 6,678 6,673 47 3,833 Total guarantees 26,729 14,682 41,411 40,230 506 8,448 1 Total net amount is computed as the gross amount less any participations. 2 Excludes derivative contracts with certain active commercial and investment banks and certain other counterparties, as such contracts can be cash settled and the Group had no basis to conclude it was probable that the counterparties held, at inception, the underlying instruments. 3 Collateral for derivatives accounted for as guarantees is not significant. Deposit-taking banks and securities dealers in Switzerland and certain other European countries are required to ensure the payout of privileged deposits in case of specified restrictions or compulsory liquidation of a deposit-taking bank. In Switzerland, deposit-taking banks and securities dealers jointly guarantee an amount of up to CHF 6 billion. Upon occurrence of a payout event triggered by a specified restriction of business imposed by FINMA or by the compulsory liquidation of another deposit-taking bank, the Group’s contribution will be calculated based on its share of privileged deposits in proportion to total privileged deposits. Based on FINMA’s estimate for the Group’s banking subsidiaries in Switzerland, the Group’s share in the deposit insurance guarantee program for the period July 1, 2017 to June 30, 2018 was CHF 0.5 billion. These deposit insurance guarantees were reflected in other guarantees. For the period July 1, 2018 to June 30, 2019, the Group’s share in this deposit insurance guarantee program based on FINMA’s estimate will be CHF 0.5 billion. Representations and warranties on residential mortgage loans sold In connection with the Global Markets division’s sale of US residential mortgage loans, the Group has provided certain representations and warranties relating to the loans sold. The Group has provided these representations and warranties relating to sales of loans to institutional investors, primarily banks, and non-agency, or private label, securitizations. The loans sold are primarily loans that the Group has purchased from other parties. The scope of representations and warranties, if any, depends on the transaction, but can include: ownership of the mortgage loans and legal capacity to sell the loans; loan-to-value ratios and other characteristics of the property, the borrower and the loan; validity of the liens securing the loans and absence of delinquent taxes or related liens; conformity to underwriting standards and completeness of documentation; and origination in compliance with law. If it is determined that representations and warranties were breached, the Group may be required to repurchase the related loans or indemnify the investors to make them whole for losses. Whether the Group will incur a loss in connection with repurchases and make whole payments depends on: the extent to which claims are made; the validity of such claims made within the statute of limitations (including the likelihood and ability to enforce claims); whether the Group can successfully claim against parties that sold loans to the Group and made representations and warranties to the Group; the residential real estate market, including the number of defaults; and whether the obligations of the securitization vehicles were guaranteed or insured by third parties. During the first six months of 2018, the Group received repurchase claims for residential mortgage loans that were not significant, and loans repurchased during this period and related losses were not material. The balance of outstanding repurchase claims as of the end of 2Q18 was not significant. Repurchase claims on residential mortgage loans sold that are subject to arbitration or litigation proceedings, or become so during the reporting period, are not included in this Guarantees and commitments disclosure but are addressed in litigation and related loss contingencies and provisions. The Group is involved in litigation relating to representations and warranties on residential mortgages sold. > Refer to “Note 32 – Litigation” for further information. Disposal-related contingencies and other indemnifications The Group has certain guarantees for which its maximum contingent liability cannot be quantified. These guarantees include disposal-related contingencies in connection with the sale of assets or businesses, and other indemnifications. These guarantees are not reflected in the “Guarantees” table. > Refer to “Disposal-related contingencies and other indemnifications” in VI – Consolidated financial statements – Credit Suisse Group – Note 32 – Guarantees and commitments in the Credit Suisse Annual Report 2017 for a description of these guarantees. Other commitments Other commitments of the Group are classified as follows: irrevocable commitments under documentary credits, irrevocable loan commitments, forward reverse repurchase agreements and other commitments. > Refer to “Other commitments” in VI – Consolidated financial statements – Credit Suisse Group – Note 32 – Guarantees and commitments in the Credit Suisse Annual Report 2017 for a description of these commitments. Other commitments end of 2Q18 4Q17 Maturity Maturity Total Total 1 Maturity Maturity Total Total 1 Other commitments (CHF million) Irrevocable commitments under documentary credits 5,231 390 5,621 5,301 3,499 4,976 115 5,091 5,000 3,218 Irrevocable loan commitments 2 25,834 90,804 116,638 111,328 50,786 24,296 82,105 106,401 101,270 42,307 Forward reverse repurchase agreements 170 0 170 170 170 12 0 12 12 12 Other commitments 432 229 661 661 1 219 128 347 347 0 Total other commitments 31,667 91,423 123,090 117,460 54,456 29,503 82,348 111,851 106,629 45,537 1 Total net amount is computed as the gross amount less any participations. 2 Irrevocable loan commitments do not include a total gross amount of CHF 115,633 million and CHF 108,663 million of unused credit limits as of the end of 2Q18 and 4Q17 respectively, which were revocable at the Group's sole discretion upon notice to the client. |
Bank | |
Guarantees and commitments | 27 Guarantees and commitments > Refer to “Note 28 – Guarantees and commitments” in III – Condensed consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q18 and to “Note 31 – Guarantees and commitments” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2017 for further information. Guarantees Maturity Maturity 1 6M18 (CHF million) Credit guarantees and similar instruments 2,215 1,140 3,355 3,142 3 1,557 Performance guarantees and similar instruments 5,066 1,971 7,037 6,095 47 2,809 Derivatives 2 18,267 6,219 24,486 24,486 445 – 3 Other guarantees 4,977 2,097 7,074 7,066 54 4,255 Total guarantees 30,525 11,427 41,952 40,789 549 8,621 2017 (CHF million) Credit guarantees and similar instruments 1,820 1,269 3,089 2,840 12 1,603 Performance guarantees and similar instruments 4,931 2,212 7,143 6,216 44 3,012 Derivatives 2 15,520 8,984 24,504 24,504 403 – 3 Other guarantees 4,461 2,217 6,678 6,673 47 3,833 Total guarantees 26,732 14,682 41,414 40,233 506 8,448 1 Total net amount is computed as the gross amount less any participations. 2 Excludes derivative contracts with certain active commercial and investment banks and certain other counterparties, as such contracts can be cash settled and the Bank had no basis to conclude it was probable that the counterparties held, at inception, the underlying instruments. 3 Collateral for derivatives accounted for as guarantees is not considered significant. Deposit-taking banks and securities dealers in Switzerland and certain other European countries are required to ensure the payout of privileged deposits in case of specified restrictions or compulsory liquidation of a deposit-taking bank. In Switzerland, deposit-taking banks and securities dealers jointly guarantee an amount of up to CHF 6 billion. Upon occurrence of a payout event triggered by a specified restriction of business imposed by Swiss Financial Market Supervisory Authority FINMA (FINMA) or by compulsory liquidation of another deposit taking bank, the Bank’s contribution will be calculated based on its share of privileged deposits in proportion to total privileged deposits. Based on FINMA’s estimate for the Bank’s banking subsidiaries in Switzerland, the Bank’s share in the deposit insurance guarantee program for the period July 1, 2017 to June 30, 2018 was CHF 0.5 billion. These deposit insurance guarantees were reflected in other guarantees. For the period July 1, 2018 to June 30, 2019, the Bank’s share in this deposit insurance guarantee program based on FINMA’s estimate will be CHF 0.5 billion. Representations and warranties on residential mortgage loans sold In connection with the Global Markets division’s sale of US residential mortgage loans, the Bank has provided certain representations and warranties relating to the loans sold. > Refer to “Note 28 – Guarantees and commitments” in III – Consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q18 and to “Note 31 – Guarantees and commitments” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2017 for further information. Other commitments 6M18 2017 Maturity Maturity 1 Maturity Maturity 1 Other commitments (CHF million) Irrevocable commitments under documentary credits 5,231 390 5,621 5,301 3,499 4,976 115 5,091 5,000 3,218 Irrevocable loan commitments 25,834 90,804 116,638 2 111,328 50,786 24,296 82,105 106,401 2 101,270 42,307 Forward reverse repurchase agreements 170 0 170 170 170 12 0 12 12 12 Other commitments 431 229 660 660 1 219 128 347 347 0 Total other commitments 31,666 91,423 123,089 117,459 54,456 29,503 82,348 111,851 106,629 45,537 1 Total net amount is computed as the gross amount less any participations. 2 Irrevocable loan commitments do not include a total gross amount of CHF 115,635 million and CHF 108,665 million of unused credit limits as of the end of 6M18 and 2017, respectively, which were revocable at the Bank's sole discretion upon notice to the client. The prior period has been adjusted to the current presentation. |
Transfers of financial assets a
Transfers of financial assets and variable interest entities | 6 Months Ended |
Jun. 30, 2018 | |
Transfers of financial assets and variable interest entities | 29 Transfers of financial assets and variable interest entities In the normal course of business, the Group enters into transactions with, and makes use of, SPEs. An SPE is an entity in the form of a trust or other legal structure designed to fulfill a specific limited need of the company that organized it and is generally structured to isolate the SPE’s assets from creditors of other entities, including the Group. The principal uses of SPEs are to assist the Group and its clients in securitizing financial assets and creating investment products. The Group also uses SPEs for other client-driven activity, such as to facilitate financings, and for Group tax or regulatory purposes. Transfers of financial assets Securitizations The majority of the Group’s securitization activities involve mortgages and mortgage-related securities and are predominantly transacted using SPEs. In a typical securitization, the SPE purchases assets financed by proceeds received from the SPE’s issuance of debt and equity instruments, certificates, commercial papers (CP) and other notes of indebtedness. These assets and liabilities are recorded on the balance sheet of the SPE and not reflected on the Group’s consolidated balance sheet, unless either the Group sold the assets to the entity and the accounting requirements for sale were not met or the Group consolidates the SPE. The Group purchases commercial and residential mortgages for the purpose of securitization and sells these mortgage loans to SPEs. These SPEs issue commercial mortgage-backed securities (CMBS), residential mortgage-backed securities (RMBS) and asset-backed securities (ABS) that are collateralized by the assets transferred to the SPE and that pay a return based on the returns on those assets. Investors in these mortgage-backed securities or ABS typically have recourse to the assets in the SPEs, unless a third-party guarantee has been received to further enhance the creditworthiness of the assets. The investors and the SPEs have no recourse to the Group’s assets. The Group is typically an underwriter of, and makes a market in, these securities. The Group also transacts in re-securitizations of previously issued RMBS securities. Typically, certificates issued out of an existing securitization vehicle are sold into a newly created and separate securitization vehicle. Often, these re-securitizations are initiated in order to repackage an existing security to give the investor a higher rated tranche. The Group also uses SPEs for other asset-backed financings relating to client-driven activity and for Group tax or regulatory purposes. Types of structures included in this category include managed collateralized loan obligations (CLOs), CLOs, leveraged finance, repack and other types of transactions, including life insurance structures, emerging market structures set up for financing, loan participation or loan origination purposes, and other alternative structures created for the purpose of investing in venture capital-like investments. CLOs are collateralized by loans transferred to the CLO vehicle and pay a return based on the returns on the loans. Leveraged finance structures are used to assist in the syndication of certain loans held by the Group, while repack structures are designed to give a client collateralized exposure to specific cash flows or credit risk backed by collateral purchased from the Group. In these asset-backed financing structures investors typically only have recourse to the collateral of the SPE and do not have recourse to the Group’s assets. When the Group transfers assets into an SPE, it must assess whether that transfer is accounted for as a sale of the assets. Transfers of assets may not meet sale requirements if the assets have not been legally isolated from the Group and/or if the Group’s continuing involvement is deemed to give it effective control over the assets. If the transfer is not deemed a sale, it is instead accounted for as a secured borrowing, with the transferred assets as collateral. Gains and losses on securitization transactions depend, in part, on the carrying values of mortgages and loans involved in the transfer and are allocated between the assets sold and any beneficial interests retained according to the relative fair values at the date of sale. The Group does not retain material servicing responsibilities from securitization activities. The following table provides the gains or losses and proceeds from the transfer of assets relating to 6M18 and 6M17 securitizations of financial assets that qualify for sale accounting and subsequent derecognition, along with the cash flows between the Group and the SPEs used in any securitizations in which the Group maintained continuing involvement from the time of the transaction, regardless of when the securitization occurred. Securitizations in 6M18 6M17 Gains and cash flows (CHF million) CMBS Net gain 1 7 34 Proceeds from transfer of assets 3,568 2,917 Cash received on interests that continue to be held 23 18 RMBS Net gain/(loss) 1 (4) 6 Proceeds from transfer of assets 16,765 5,807 Purchases of previously transferred financial assets or its underlying collateral (1) (2) 2 Servicing fees 1 1 Cash received on interests that continue to be held 406 146 Other asset-backed financings Net gain 1 58 24 Proceeds from transfer of assets 3,950 3,404 Purchases of previously transferred financial assets or its underlying collateral 3 (232) (209) 2 Fees 4 67 56 Cash received on interests that continue to be held 1 1 1 Includes underwriting revenues, deferred origination fees, gains or losses on the sale of collateral to the SPE and gains or losses on the sale of newly issued securities to third parties, but excludes net interest income on assets prior to the securitization. The gains or losses on the sale of the collateral is the difference between the fair value on the day prior to the securitization pricing date and the sale price of the loans. 2 Line item was omitted in 6M17. 3 Represents market making activity and voluntary repurchases at fair value where no repurchase obligations were present. 4 Represents management fees and performance fees earned for investment management services provided to managed CLOs. Continuing involvement in transferred financial assets The Group may have continuing involvement in the financial assets that are transferred to an SPE which may take several forms, including, but not limited to, servicing, recourse and guarantee arrangements, agreements to purchase or redeem transferred assets, derivative instruments, pledges of collateral and beneficial interests in the transferred assets. > Refer to “Transfer of financial assets” in VI – Consolidated financial statements – Credit Suisse Group – Note 33 – Transfer of financial assets and variable interest entities in the Credit Suisse Annual Report 2017 for a detailed description of continuing involvement in transferred financial assets. The following table provides the outstanding principal balance of assets to which the Group continued to be exposed after the transfer of the financial assets to any SPE and the total assets of the SPE as of the end of 2Q18 and 4Q17, regardless of when the transfer of assets occurred. Principal amounts outstanding and total assets of SPEs resulting from continuing involvement end of 2Q18 4Q17 CHF million CMBS Principal amount outstanding 23,938 19,918 Total assets of SPE 37,020 31,586 RMBS Principal amount outstanding 47,792 35,645 Total assets of SPE 48,862 36,770 Other asset-backed financings Principal amount outstanding 24,176 20,916 Total assets of SPE 45,550 39,330 Principal amount outstanding relates to assets transferred from the Group and does not include principal amounts for assets transferred from third parties. Fair value of beneficial interests The fair value measurement of the beneficial interests held at the time of transfer and as of the reporting date that result from any continuing involvement is determined using fair value estimation techniques, such as the present value of estimated future cash flows that incorporate assumptions that market participants customarily use in these valuation techniques. The fair value of the assets or liabilities that result from any continuing involvement does not include any benefits from financial instruments that the Group may utilize to hedge the inherent risks. Key economic assumptions at the time of transfer > Refer to “Note 30 – Financial instruments” for information on fair value hierarchy levels. Key economic assumptions used in measuring fair value of beneficial interests at time of transfer at time of transfer, in 6M18 6M17 CMBS RMBS CMBS RMBS CHF million, except where indicated Fair value of beneficial interests 463 2,626 60 637 of which level 2 463 2,542 60 538 of which level 3 0 84 0 99 Weighted-average life, in years 5.7 7.6 7.7 9.5 Prepayment speed assumption (rate per annum), in % 1 – 2 5.5 – 13.5 – 2 6.7 – 16.8 Cash flow discount rate (rate per annum), in % 3 3.6 – 9.8 3.0 – 13.2 2.9 – 3.0 2.3 – 11.7 Expected credit losses (rate per annum), in % 4 1.8 – 1.8 2.8 – 5.5 0.0 – 0.0 3.2 – 3.7 Transfers of assets in which the Group does not have beneficial interests are not included in this table. 1 Prepayment speed assumption (PSA) is an industry standard prepayment speed metric used for projecting prepayments over the life of a residential mortgage loan. PSA utilizes the constant prepayment rate (CPR) assumptions. A 100% prepayment assumption assumes a prepayment rate of 0.2% per annum of the outstanding principal balance of mortgage loans in the first month. This increases by 0.2 percentage points thereafter during the term of the mortgage loan, leveling off to a CPR of 6% per annum beginning in the 30th month and each month thereafter during the term of the mortgage loan. 100 PSA equals 6 CPR. 2 To deter prepayment, commercial mortgage loans typically have prepayment protection in the form of prepayment lockouts and yield maintenances. 3 The rate was based on the weighted-average yield on the beneficial interests. 4 The range of expected credit losses only reflects instruments with an expected credit loss greater than zero unless all of the instruments have an expected credit loss of zero. Key economic assumptions as of the reporting date The following table provides the sensitivity analysis of key economic assumptions used in measuring the fair value of beneficial interests held in SPEs as of the end of 2Q18 and 4Q17. Key economic assumptions used in measuring fair value of beneficial interests held in SPEs end of 2Q18 4Q17 1 Other asset- 2 1 Other asset- 2 CHF million, except where indicated Fair value of beneficial interests 709 2,748 159 579 1,985 665 of which non-investment grade 90 709 9 100 508 50 Weighted-average life, in years 5.4 8.1 5.8 4.7 8.1 6.4 Prepayment speed assumption (rate per annum), in % 3 – 1.0 – 20.0 – – 1.0 – 25.0 – Impact on fair value from 10% adverse change – (29.2) – – (35.0) – Impact on fair value from 20% adverse change – (56.4) – – (68.1) – Cash flow discount rate (rate per annum), in % 4 3.1 – 12.6 2.9 – 29.4 0.9 – 21.2 2.7 – 12.3 1.9 – 30.6 1.0 – 21.2 Impact on fair value from 10% adverse change (13.9) (60.8) (1.8) (8.8) (49.2) (12.4) Impact on fair value from 20% adverse change (27.3) (118.3) (3.5) (17.0) (95.3) (24.5) Expected credit losses (rate per annum), in % 5 0.5 – 9.7 0.9 – 26.6 0.7 – 21.2 0.6 – 6.3 0.5 – 28.2 0.7 – 21.2 Impact on fair value from 10% adverse change (5.0) (25.3) (1.5) (3.9) (23.6) (6.6) Impact on fair value from 20% adverse change (10.0) (49.4) (2.9) (7.8) (46.1) (12.9) 1 To deter prepayment, commercial mortgage loans typically have prepayment protection in the form of prepayment lockouts and yield maintenances. 2 CDOs and CLOs within this category are generally structured to be protected from prepayment risk. 3 PSA is an industry standard prepayment speed metric used for projecting prepayments over the life of a residential mortgage loan. PSA utilizes the CPR assumptions. A 100% prepayment assumption assumes a prepayment rate of 0.2% per annum of the outstanding principal balance of mortgage loans in the first month. This increases by 0.2 percentage points thereafter during the term of the mortgage loan, leveling off to a CPR of 6% per annum beginning in the 30th month and each month thereafter during the term of the mortgage loan. 100 PSA equals 6 CPR. 4 The rate was based on the weighted-average yield on the beneficial interests. 5 The range of expected credit losses only reflects instruments with an expected credit loss greater than zero unless all of the instruments have an expected credit loss of zero. These sensitivities are hypothetical and do not reflect economic hedging activities. Changes in fair value based on a 10% or 20% variation in assumptions generally cannot be extrapolated because the relationship of the change in assumption to the change in fair value may not be linear. Also, the effect of a variation in a particular assumption on the fair value of the beneficial interests is calculated without changing any other assumption. In practice, changes in one assumption may result in changes in other assumptions (for example, increases in market interest rates may result in lower prepayments and increased credit losses), which might magnify or counteract the sensitivities. Transfers of financial assets where sale treatment was not achieved The following table provides the carrying amounts of transferred financial assets and the related liabilities where sale treatment was not achieved as of the end of 2Q18 and 4Q17. > Refer to “Note 31 – Assets pledged and collateral” for further information. Carrying amounts of transferred financial assets and liabilities where sale treatment was not achieved end of 2Q18 4Q17 CHF million Other asset-backed financings Trading assets 213 347 Other assets 0 48 Liability to SPE, included in other liabilities (213) (395) Securities sold under repurchase agreements and securities lending transactions accounted for as secured borrowings For securities sold under repurchase agreements and securities lending transactions accounted for as secured borrowings, US GAAP requires the disclosure of the collateral pledged and the associated risks to which a transferor continues to be exposed after the transfer. This provides an understanding of the nature and risks of short-term collateralized financing obtained through these types of transactions. Securities sold under repurchase agreements and securities lending transactions represent collateralized financing transactions used to earn net interest income, increase liquidity or facilitate trading activities. These transactions are collateralized principally by government debt securities, corporate debt securities, asset-backed securities, equity securities and other collateral and have terms ranging from on demand to a longer period of time. In the event of the Group’s default or a decline in fair value of collateral pledged, the repurchase agreement provides the counterparty with the right to liquidate the collateral held or request additional collateral. Similarly, in the event of the Group's default, the securities lending transaction provides the counterparty the right to liquidate the securities borrowed. The following tables provide the gross obligation relating to securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral by the class of collateral pledged and by remaining contractual maturity as of the end of 2Q18 and 4Q17. Securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral – by class of collateral pledged end of 2Q18 4Q17 CHF billion Government debt securities 24.3 31.4 Corporate debt securities 12.3 15.1 Asset-backed securities 2.8 5.0 Other 0.2 0.6 Securities sold under repurchase agreements 39.6 52.1 Government debt securities 2.6 2.7 Corporate debt securities 0.4 0.4 Equity securities 4.0 4.8 Other 0.3 0.3 Securities lending transactions 7.3 8.2 Government debt securities 1.3 1.8 Corporate debt securities 0.6 0.6 Asset-backed securities 0.1 0.0 Equity securities 43.5 35.6 Other 0.0 0.1 Obligation to return securities received as collateral, at fair value 45.5 38.1 Total 92.4 98.4 Securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral – by remaining contractual maturity Remaining contractual maturities 1 Up to 2 31–90 More than 2Q18 (CHF billion) Securities sold under repurchase agreements 7.6 21.9 5.4 4.7 39.6 Securities lending transactions 4.7 2.4 0.2 0.0 7.3 Obligation to return securities received as collateral, at fair value 45.3 0.0 0.2 0.0 45.5 Total 57.6 24.3 5.8 4.7 92.4 4Q17 (CHF billion) Securities sold under repurchase agreements 7.2 32.5 5.2 7.2 52.1 Securities lending transactions 5.7 2.2 0.0 0.3 8.2 Obligation to return securities received as collateral, at fair value 37.9 0.0 0.0 0.2 38.1 Total 50.8 34.7 5.2 7.7 98.4 1 Includes contracts with no contractual maturity that may contain termination arrangements subject to a notice period. 2 Includes overnight transactions. > Refer to “Note 23 – Offsetting of financial assets and financial liabilities” for further information on the gross amount of securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral and the net amounts disclosed in the consolidated balance sheets. Variable interest entities As a normal part of its business, the Group engages in various transactions that include entities that are considered variable interest entities (VIEs) and are grouped into three primary categories: collateralized debt obligations (CDOs)/CLOs, CP conduits and financial intermediation. > Refer to “Variable interest entities” in VI – Consolidated financial statements – Credit Suisse Group – Note 33 – Transfer of financial assets and variable interest entities in the Credit Suisse Annual Report 2017 for a detailed description of VIEs, CDO/CLOs, CP conduit or financial intermediation. Collateralized debt and loan obligations The Group engages in CDO/CLO transactions to meet client and investor needs, earn fees and sell financial assets. The Group may act as underwriter, placement agent or asset manager and may warehouse assets prior to the closing of a transaction. Commercial paper conduit In 2Q16, the Group established Alpine Securitization Ltd (Alpine), a multi-seller asset-backed CP conduit used for client and Group financing purposes. The Group acts as the administrator and provider of liquidity and credit enhancement facilities for Alpine. Alpine discloses to CP investors certain portfolio and asset data and submits its portfolio to rating agencies for public ratings. This CP conduit purchases assets such as loans and receivables or enters into reverse repurchase agreements and finances such activities through the issuance of CP backed by these assets. The CP conduit can enter into liquidity facilities with third-party entities pursuant to which it may purchase assets from these entities to provide them with liquidity and credit support. The financing transactions are structured to provide credit support to the CP conduit in the form of over-collateralization and other asset-specific enhancements. Alpine is a separate legal entity that is wholly owned by the Group. However, its assets are available to satisfy only the claims of its creditors. In addition, the Group, as administrator and liquidity facility provider, has significant exposure to and power over the activities of Alpine. Alpine is considered a VIE for accounting purposes and the Group is deemed the primary beneficiary and consolidates this entity. The overall average maturity of the conduit’s outstanding CP was approximately 130 days as of the end of 2Q18. Alpine was rated A-1(sf) by Standard & Poor’s and P-1(sf) by Moody’s and had exposures mainly in a reverse repurchase agreement, commercial paper, credit card receivables and car loans. The Group’s commitment to this CP conduit consists of obligations under liquidity agreements. The liquidity agreements are asset-specific arrangements, which require the Group to purchase assets from the CP conduit in certain circumstances, including a lack of liquidity in the CP market such that the CP conduit cannot refinance its obligations or, in some cases, a default of an underlying asset. The asset-specific credit enhancements provided by the client seller of the assets remain unchanged as a result of such a purchase. In entering into such agreements, the Group reviews the credit risk associated with these transactions on the same basis that would apply to other extensions of credit. The Group’s economic risks associated with the CP conduit are included in the Group’s risk management framework including counterparty, economic risk capital and scenario analysis. Financial intermediation The Group has significant involvement with VIEs in its role as a financial intermediary on behalf of clients. Financial intermediation consists of securitizations, funds, loans and other vehicles. Consolidated VIEs The Group has significant involvement with VIEs in its role as a financial intermediary on behalf of clients. The Group consolidates all VIEs related to financial intermediation for which it was the primary beneficiary. The consolidated VIEs table provides the carrying amounts and classifications of the assets and liabilities of consolidated VIEs as of the end of 2Q18 and 4Q17. Consolidated VIEs in which the Group was the primary beneficiary Financial intermediation CDO/ CP Securi- 2Q18 (CHF million) Cash and due from banks 34 0 75 68 53 10 240 Trading assets 56 0 106 147 929 14 1,252 Investment securities 0 0 679 0 0 0 679 Other investments 0 0 0 199 1,127 284 1,610 Net loans 0 0 32 0 20 247 299 Premises and equipment 0 0 0 0 126 0 126 Other assets 371 10 925 12 46 675 2,039 of which loans held-for-sale 370 0 144 0 3 0 517 Total assets of consolidated VIEs 461 10 1,817 426 2,301 1,230 6,245 Trading liabilities 1 0 0 0 2 0 3 Long-term debt 173 0 838 0 26 35 1,072 Other liabilities 1 0 1 8 110 100 220 Total liabilities of consolidated VIEs 175 0 839 8 138 135 1,295 4Q17 (CHF million) Cash and due from banks 22 0 96 32 70 12 232 Trading assets 17 0 10 179 1,122 20 1,348 Investment securities 0 0 381 0 0 0 381 Other investments 0 0 0 350 1,197 286 1,833 Net loans 0 0 0 3 21 243 267 Premises and equipment 0 0 0 0 151 0 151 Other assets 83 4 1,070 21 32 1,188 2,398 of which loans held-for-sale 83 0 152 0 3 0 238 Total assets of consolidated VIEs 122 4 1,557 585 2,593 1,749 6,610 Trading liabilities 0 0 0 0 3 0 3 Long-term debt 51 0 752 0 26 34 863 Other liabilities 0 0 1 26 111 66 204 Total liabilities of consolidated VIEs 51 0 753 26 140 100 1,070 Non-consolidated VIEs The non-consolidated VIEs table provides the carrying amounts and classification of the assets and liabilities of variable interests recorded in the Group’s consolidated balance sheets, maximum exposure to loss and total assets of the non-consolidated VIEs. Certain VIEs have not been included in the following table, including VIEs structured by third parties in which the Group’s interest is in the form of securities held in the Group’s inventory, certain repurchase financings to funds and single-asset financing vehicles not sponsored by the Group to which the Group provides financing but has very little risk of loss due to over-collateralization and guarantees, failed sales where the Group does not have any other holdings and other entities out of scope. > Refer to “Variable interest entities” in VI – Consolidated financial statements – Credit Suisse Group – Note 33 – Transfer of financial assets and variable interest entities in the Credit Suisse Annual Report 2017 for further information on non-consolidated VIEs. Non-consolidated VIEs Financial intermediation CDO/ Securi- 2Q18 (CHF million) Trading assets 159 5,829 900 207 2,839 9,934 Net loans 312 1,375 2,111 4,040 1,092 8,930 Other assets 5 12 111 0 458 586 Total variable interest assets 476 7,216 3,122 4,247 4,389 19,450 Maximum exposure to loss 476 8,880 3,122 7,293 5,203 24,974 Total assets of non-consolidated VIEs 6,517 83,744 92,329 18,825 41,654 243,069 4Q17 (CHF million) Trading assets 746 4,573 1,014 224 2,388 8,945 Net loans 620 1,563 2,438 4,591 328 9,540 Other assets 9 11 67 1 437 525 Total variable interest assets 1,375 6,147 3,519 4,816 3,153 19,010 Maximum exposure to loss 1,375 7,617 3,526 7,061 4,079 23,658 Total assets of non-consolidated VIEs 15,874 64,839 66,703 16,270 35,198 198,884 |
Bank | |
Transfers of financial assets and variable interest entities | 28 Transfers of financial assets and variable interest entities > Refer to “Note 29 – Transfers of financial assets and variable interest entities“ in III – Condensed consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q18 and “Note 32 – Transfers of financial assets and variable interest entities“ in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2017 for further information. Transfers of financial assets Securitizations The following table provides the gains or losses and proceeds from the transfer of assets relating to 6M18 and 6M17 securitizations of financial assets that qualify for sale accounting and subsequent derecognition, along with cash flows between the Bank and the SPEs used in any securitizations in which the Bank maintained continuing involvement from the time of the transaction, regardless of when the securitization occurred. Securitizations in 6M18 6M17 Gains and cash flows (CHF million) CMBS Net gain 1 7 34 Proceeds from transfer of assets 3,568 2,917 Cash received on interests that continue to be held 23 18 RMBS Net gain/(loss) 1 (4) 6 Proceeds from transfer of assets 16,765 5,807 Purchases of previously transferred financial assets or its underlying collateral (1) (2) 2 Servicing fees 1 1 Cash received on interests that continue to be held 406 146 Other asset-backed financings Net gain 1 58 24 Proceeds from transfer of assets 3,950 3,404 Purchases of previously transferred financial assets or its underlying collateral 3 (232) (209) 2 Fees 4 67 56 Cash received on interests that continue to be held 1 1 1 Includes underwriting revenues, deferred origination fees, gains or losses on the sale of collateral to the SPE and gains or losses on the sale of newly issued securities to third parties, but excludes net interest income on assets prior to the securitization. The gains or losses on the sale of the collateral is the difference between the fair value on the day prior to the securitization pricing date and the sale price of the loans. 2 Line item was omitted in 6M17. 3 Represents market making activity and voluntary repurchases at fair value where no repurchase obligations were present. 4 Represents management fees and performance fees earned for investment management services provided to managed CLOs. Continuing involvement in transferred financial assets The following table provides the outstanding principal balance of assets to which the Bank continued to be exposed after the transfer of the financial assets to any SPE and the total assets of the SPE as of the end of 6M18 and 2017, regardless of when the transfer of assets occurred. Principal amounts outstanding and total assets of SPEs resulting from continuing involvement end of 6M18 2017 CHF million CMBS Principal amount outstanding 23,938 19,918 Total assets of SPE 37,020 31,586 RMBS Principal amount outstanding 47,792 35,645 Total assets of SPE 48,862 36,770 Other asset-backed financings Principal amount outstanding 24,176 20,916 Total assets of SPE 45,550 39,330 Principal amount outstanding relates to assets transferred from the Bank and does not include principle amounts for assets transferred from third parties. Fair value of beneficial interests The fair value measurement of the beneficial interests held at the time of transfer and as of the reporting date that result from any continuing involvement is determined using fair value estimation techniques, such as the present value of estimated future cash flows that incorporate assumptions that market participants customarily use in these valuation techniques. The fair value of the assets or liabilities that result from any continuing involvement does not include any benefits from financial instruments that the Bank may utilize to hedge the inherent risks. Key economic assumptions at the time of transfer > Refer to “Note 29 – Financial instruments” for information on fair value hierarchy levels. Key economic assumptions used in measuring fair value of beneficial interests at time of transfer at time of transfer, in 6M18 6M17 CMBS RMBS CMBS RMBS CHF million, except where indicated Fair value of beneficial interests 463 2,626 60 637 of which level 2 463 2,542 60 538 of which level 3 0 84 0 99 Weighted-average life, in years 5.7 7.6 7.7 9.5 Prepayment speed assumption (rate per annum), in % 1 – 2 5.5 – 13.5 – 2 6.7 – 16.8 Cash flow discount rate (rate per annum), in % 3 3.6 – 9.8 3.0 – 13.2 2.9 – 3.0 2.3 – 11.7 Expected credit losses (rate per annum), in % 4 1.8 – 1.8 2.8 – 5.5 0.0 – 0.0 3.2 – 3.7 Transfers of assets in which the Bank does not have beneficial interests are not included in this table. 1 Prepayment speed assumption (PSA) is an industry standard prepayment speed metric used for projecting prepayments over the life of a residential mortgage loan. PSA utilizes the constant prepayment rate (CPR) assumptions. A 100% prepayment assumption assumes a prepayment rate of 0.2% per annum of the outstanding principal balance of mortgage loans in the first month. This increases by 0.2 percentage points thereafter during the term of the mortgage loan, leveling off to a CPR of 6% per annum beginning in the 30th month and each month thereafter during the term of the mortgage loan. 100 PSA equals 6 CPR. 2 To deter prepayment, commercial mortgage loans typically have prepayment protection in the form of prepayment lockouts and yield maintenances. 3 The rate was based on the weighted-average yield on the beneficial interests. 4 The range of expected credit losses only reflects instruments with an expected credit loss greater than zero unless all of the instruments have an expected credit loss of zero. Key economic assumptions as of the reporting date The following table provides the sensitivity analysis of key economic assumptions used in measuring the fair value of beneficial interests held in SPEs as of the end of 6M18 and 2017. Key economic assumptions used in measuring fair value of beneficial interests held in SPEs end of 6M18 2017 1 Other asset- 2 1 Other asset- 2 CHF million, except where indicated Fair value of beneficial interests 709 2,748 159 579 1,985 665 of which non-investment grade 90 709 9 100 508 50 Weighted-average life, in years 5.4 8.1 5.8 4.7 8.1 6.4 Prepayment speed assumption (rate per annum), in % 3 – 1.0 – 20.0 – – 1.0 – 25.0 – Impact on fair value from 10% adverse change – (29.2) – – (35.0) – Impact on fair value from 20% adverse change – (56.4) – – (68.1) – Cash flow discount rate (rate per annum), in % 4 3.1 – 12.6 2.9 – 29.4 0.9 – 21.2 2.7 – 12.3 1.9 – 30.6 1.0 – 21.2 5 Impact on fair value from 10% adverse change (13.9) (60.8) (1.8) (8.8) (49.2) (12.4) Impact on fair value from 20% adverse change (27.3) (118.3) (3.5) (17.0) (95.3) (24.5) Expected credit losses (rate per annum), in % 6 0.5 – 9.7 0.9 – 26.6 0.7 – 21.2 0.6 – 6.3 0.5 – 28.2 0.7 – 21.2 5 Impact on fair value from 10% adverse change (5.0) (25.3) (1.5) (3.9) (23.6) (6.6) Impact on fair value from 20% adverse change (10.0) (49.4) (2.9) (7.8) (46.1) (12.9) 1 To deter prepayment, commercial mortgage loans typically have prepayment protection in the form of prepayment lockouts and yield maintenances. 2 CDOs within this category are generally structured to be protected from prepayment risk. 3 PSA is an industry standard prepayment speed metric used for projecting prepayments over the life of a residential mortgage loan. PSA utilizes the CPR assumptions. A 100% prepayment assumption assumes a prepayment rate of 0.2% per annum of the outstanding principal balance of mortgage loans in the first month. This increases by 0.2 percentage points thereafter during the term of the mortgage loan, leveling off to a CPR of 6% per annum beginning in the 30th month and each month thereafter during the term of the mortgage loan. 100 PSA equals 6 CPR. 4 The rate was based on the weighted-average yield on the beneficial interests. 5 Prior period has been corrected. 6 The range of expected credit losses only reflects instruments with an expected credit loss greater than zero unless all of the instruments have an expected credit loss of zero. Transfers of financial assets where sale treatment was not achieved The following table provides the carrying amounts of transferred financial assets and the related liabilities where sale treatment was not achieved as of the end of 6M18 and 2017. > Refer to “Note 30 – Assets pledged and collateral” for information on assets pledged or assigned. Carrying amounts of transferred financial assets and liabilities where sale treatment was not achieved end of 6M18 2017 CHF million Other asset-backed financings Trading assets 213 347 Other assets 0 48 Liability to SPE, included in other liabilities (213) (395) Securities sold under repurchase agreements and securities lending transactions accounted for as secured borrowings The following tables provide the gross obligation relating to securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral by the class of collateral pledged and by remaining contractual maturity as of the end of 6M18 and 2017. Securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral – by class of collateral pledged end of 6M18 2017 CHF billion Government debt securities 24.3 31.4 Corporate debt securities 12.3 15.1 Asset-backed securities 2.8 5.0 Other 0.2 0.6 Securities sold under repurchase agreements 39.6 52.1 Government debt securities 2.6 2.7 Corporate debt securities 0.4 0.4 Equity securities 4.0 4.8 Other 0.3 0.3 Securities lending transactions 7.3 8.2 Government debt securities 1.3 1.8 Corporate debt securities 0.6 0.6 Asset-backed securities 0.1 0.0 Equity securities 43.5 35.6 Other 0.0 0.1 Obligation to return securities received as collateral, at fair value 45.5 38.1 Total 92.4 98.4 Securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral – by remaining contractual maturity Remaining contractual maturities 1 Up to 2 31-90 More than 6M18 (CHF billion) Securities sold under repurchase agreements 7.6 21.9 5.4 4.7 39.6 Securities lending transactions 4.7 2.4 0.2 0.0 7.3 Obligation to return securities received as collateral, at fair value 45.3 0.0 0.2 0.0 45.5 Total 57.6 24.3 5.8 4.7 92.4 2017 (CHF billion) Securities sold under repurchase agreements 7.2 32.5 5.2 7.2 52.1 Securities lending transactions 5.7 2.2 0.0 0.3 8.2 Obligation to return securities received as collateral, at fair value 37.9 0.0 0.0 0.2 38.1 Total 50.8 34.7 5.2 7.7 98.4 1 Includes contracts with no contractual maturity that may contain termination arrangements subject to a notice period. 2 Includes overnight transactions. > Refer to “Note 22 – Offsetting of financial assets and financial liabilities” for further information on the gross amount of securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral and the net amounts disclosed in the consolidated balance sheets. Variable interest entities Commercial paper conduit In 2Q16, the Bank established Alpine Securitization Ltd (Alpine), a multi-seller asset-backed CP conduit used for client and Bank financing purposes. The Bank acts as the administrator and provider of liquidity and credit enhancement facilities for Alpine. Alpine discloses to CP investors certain portfolio and asset data and submits its portfolio to rating agencies for public ratings. This CP conduit purchases assets such as loans and receivables or enters into reverse repurchase agreements and finances such activities through the issuance of CP backed by these assets. The CP conduit can enter into liquidity facilities with third-party entities pursuant to which it may purchase assets from these entities to provide them with liquidity and credit support. The financing transactions are structured to provide credit support to the CP conduit in the form of over-collateralization and other asset-specific enhancements. Alpine is a separate legal entity that is wholly owned by the Bank. However, its assets are available to satisfy only the claims of its creditors. In addition, the Bank, as administrator and liquidity facility provider, has significant exposure to and power over the activities of Alpine. Alpine is considered a VIE for accounting purposes and the Bank is deemed the primary beneficiary and consolidates this entity. The overall average maturity of the conduit’s outstanding CP was approximately 130 days as of the end of 6M18. Alpine was rated A-1(sf) by Standard & Poor’s and P-1(sf) by Moody’s and had exposures mainly in a reverse repurchase agreement, commercial paper, credit card receivables and car loans. The Bank’s commitment to this CP conduit consists of obligations under liquidity agreements. The liquidity agreements are asset-specific arrangements, which require the Bank to purchase assets from the CP conduit in certain circumstances, including a lack of liquidity in the CP market such that the CP conduit cannot refinance its obligations or, in some cases, a default of an underlying asset. The asset-specific credit enhancements provided by the client seller of the assets remain unchanged as a result of such a purchase. In entering into such agreements, the Bank reviews the credit risk associated with these transactions on the same basis that would apply to other extensions of credit. The Bank’s economic risks associated with the CP conduit are included in the Bank’s risk management framework including counterparty, economic risk capital and scenario analysis. Consolidated VIEs The consolidated variable interest entities (VIEs) tables provide the carrying amounts and classifications of the assets and liabilities of consolidated VIEs as of the end of 6M18 and 2017. Consolidated VIEs in which the Bank was the primary beneficiary Financial intermediation CDO/ CP Securi- 6M18 (CHF million) Cash and due from banks 34 0 75 68 53 10 240 Trading assets 56 0 106 147 929 14 1,252 Investment securities 0 0 679 0 0 0 679 Other investments 0 0 0 199 1,127 284 1,610 Net loans 0 0 32 0 20 247 299 Premises and equipment 0 0 0 0 104 0 104 Other assets 371 10 925 12 45 674 2,037 of which loans held-for-sale 370 0 144 0 3 0 517 Total assets of consolidated VIEs 461 10 1,817 426 2,278 1,229 6,221 Trading liabilities 1 0 0 0 2 0 3 Long-term debt 173 0 838 0 26 35 1,072 Other liabilities 1 0 1 8 109 100 219 Total liabilities of consolidated VIEs 175 0 839 8 137 135 1,294 2017 (CHF million) Cash and due from banks 22 0 96 32 70 12 232 Trading assets 17 0 10 179 1,122 20 1,348 Investment securities 0 0 381 0 0 0 381 Other investments 0 0 0 350 1,197 286 1,833 Net loans 0 0 0 3 21 243 267 Premises and equipment 0 0 0 0 128 0 128 Other assets 83 4 1,070 21 31 1,187 2,396 of which loans held-for-sale 83 0 152 0 3 0 238 Total assets of consolidated VIEs 122 4 1,557 585 2,569 1,748 6,585 Trading liabilities 0 0 0 0 3 0 3 Long-term debt 51 0 752 0 26 34 863 Other liabilities 0 0 1 26 111 66 204 Total liabilities of consolidated VIEs 51 0 753 26 140 100 1,070 Non-consolidated VIEs Non-consolidated VIE assets are related to the non-consolidated VIEs with which the Bank has variable interests. These amounts represent the assets of the entities themselves and are typically unrelated to the exposures the Bank has with the entity and thus are not amounts that are considered for risk management purposes. Non-consolidated VIEs Financial intermediation CDO/ Securi- 6M18 (CHF million) Trading assets 159 5,829 900 207 2,839 9,934 Net loans 312 1,375 2,111 4,040 1,092 8,930 Other assets 5 12 100 0 458 575 Total variable interest assets 476 7,216 3,111 4,247 4,389 19,439 Maximum exposure to loss 476 8,880 3,111 7,293 5,203 24,963 Total assets of non-consolidated VIEs 6,517 83,744 89,367 18,825 12,737 211,190 2017 (CHF million) Trading assets 746 4,573 1,014 224 2,388 8,945 Net loans 620 1,563 2,438 4,591 328 9,540 Other assets 9 11 55 1 437 513 Total variable interest assets 1,375 6,147 3,507 4,816 3,153 18,998 Maximum exposure to loss 1,375 7,617 3,514 7,061 4,079 23,646 Total assets of non-consolidated VIEs 15,874 64,839 63,504 16,270 6,265 166,752 |
Financial instruments
Financial instruments | 6 Months Ended |
Jun. 30, 2018 | |
Financial instruments | 30 Financial instruments The disclosure of the Group’s financial instruments below includes the following sections: – – – – Concentrations of credit risk Credit risk concentrations arise when a number of counterparties are engaged in similar business activities, are located in the same geographic region or when there are similar economic features that would cause their ability to meet contractual obligations to be similarly impacted by changes in economic conditions. > Refer to “Note 34 – Financial instruments” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2017 for further information on the Group’s concentrations of credit risk. Fair value measurement A significant portion of the Group’s financial instruments is carried at fair value. Deterioration of financial markets could significantly impact the fair value of these financial instruments and the results of operations. > Refer to “Note 34 – Financial instruments” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2017 for further information on fair value measurement of financial instruments and the definition of the levels of the fair value hierarchy. Assets and liabilities measured at fair value on a recurring basis 1 Assets 2 Assets (CHF million) Cash and due from banks 0 185 0 – – 185 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 0 75,706 0 – – 75,706 Debt 1,126 858 0 – – 1,984 of which corporates 0 764 0 – – 764 Equity 43,389 140 9 – – 43,538 Securities received as collateral 44,515 998 9 – – 45,522 Debt 24,772 40,650 2,161 – 12 67,595 of which foreign governments 24,521 3,688 219 – – 28,428 of which corporates 123 9,874 1,233 – 12 11,242 of which RMBS 0 22,228 446 – – 22,674 of which CMBS 0 3,191 20 – – 3,211 of which CDO 4 1,450 108 – – 1,562 Equity 39,705 2,841 182 – 1,026 43,754 Derivatives 7,130 133,357 3,116 (124,039) – 19,564 of which interest rate products 2,451 73,145 707 – – – of which foreign exchange products 350 36,435 231 – – – of which equity/index-related products 4,327 17,175 747 – – – of which credit derivatives 0 5,913 745 – – – Other 1,965 572 2,136 – – 4,673 Trading assets 73,572 177,420 7,595 (124,039) 1,038 135,586 Debt 99 2,079 153 – – 2,331 of which foreign governments 99 1,141 0 – – 1,240 of which corporates 0 410 0 – – 410 of which RMBS 0 526 151 – – 677 of which CMBS 0 0 2 – – 2 Investment securities 99 2,079 153 – – 2,331 Private equity 0 0 23 – 407 430 of which equity funds 0 0 23 – 147 170 Hedge funds 0 0 0 – 194 194 of which debt funds 0 0 0 – 121 121 Other equity investments 22 85 124 – 1,083 1,314 of which private 22 84 96 – 1,083 1,285 Life finance instruments 0 0 1,201 – – 1,201 Other investments 22 85 1,348 – 1,684 3,139 Loans 0 11,527 4,184 – – 15,711 of which commercial and industrial loans 0 4,140 1,859 – – 5,999 of which financial institutions 0 5,026 1,426 – – 6,452 Other intangible assets (mortgage servicing rights) 0 0 151 – – 151 Other assets 75 8,293 1,560 (185) – 9,743 of which loans held-for-sale 0 6,281 1,355 – – 7,636 Total assets at fair value 118,283 276,293 15,000 (124,224) 2,722 288,074 1 Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements. 2 In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the consolidated balance sheet. Assets and liabilities measured at fair value on a recurring basis (continued) 1 Liabilities 2 Liabilities (CHF million) Due to banks 0 169 0 – – 169 Customer deposits 0 2,941 466 – – 3,407 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 0 9,457 0 – – 9,457 Debt 1,126 858 0 – – 1,984 of which corporates 0 764 0 – – 764 Equity 43,389 140 9 – – 43,538 Obligation to return securities received as collateral 44,515 998 9 – – 45,522 Debt 4,297 4,214 41 – – 8,552 of which foreign governments 4,272 326 0 – – 4,598 of which corporates 6 3,779 41 – – 3,826 Equity 18,744 242 54 – 2 19,042 Derivatives 8,122 135,036 2,948 (130,924) – 15,182 of which interest rate products 2,749 68,649 230 – – – of which foreign exchange products 326 40,835 159 – – – of which equity/index-related products 5,045 17,806 1,129 – – – of which credit derivatives 0 7,165 900 – – – Trading liabilities 31,163 139,492 3,043 (130,924) 2 42,776 Short-term borrowings 0 10,010 1,665 – – 11,675 Long-term debt 0 49,242 12,963 – – 62,205 of which treasury debt over two years 0 899 0 – – 899 of which structured notes over one year and up to two years 0 7,088 543 – – 7,631 of which structured notes over two years 0 29,659 12,155 – – 41,814 of which other debt instruments over two years 0 2,664 108 – – 2,772 of which other subordinated bonds 0 5,062 1 – – 5,063 of which non-recourse liabilities 0 1,033 39 – – 1,072 Other liabilities 0 6,870 1,096 (216) – 7,750 of which failed sales 0 465 99 – – 564 Total liabilities at fair value 75,678 219,179 19,242 (131,140) 2 182,961 1 Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements. 2 In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the consolidated balance sheet. Assets and liabilities measured at fair value on a recurring basis (continued) 1 Assets 2 Assets (CHF million) Cash and due from banks 0 212 0 – – 212 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 0 77,498 0 – – 77,498 Debt 576 802 0 – – 1,378 of which corporates 0 726 0 – – 726 Equity 36,121 529 46 – – 36,696 Securities received as collateral 36,697 1,331 46 – – 38,074 Debt 29,828 40,645 2,292 – – 72,765 of which foreign governments 29,561 4,256 270 – – 34,087 of which corporates 179 10,231 1,412 – – 11,822 of which RMBS 0 21,399 320 – – 21,719 of which CMBS 0 2,501 16 – – 2,517 of which CDO 0 2,255 126 – – 2,381 Equity 51,025 3,481 163 – 1,053 55,722 Derivatives 3,577 141,347 3,289 (128,592) – 19,621 of which interest rate products 1,219 84,932 801 – – – of which foreign exchange products 19 30,302 188 – – – of which equity/index-related products 2,338 18,251 833 – – – of which credit derivatives 0 7,107 634 – – – Other 2,922 2,294 3,010 – – 8,226 Trading assets 87,352 187,767 8,754 (128,592) 1,053 156,334 Debt 244 1,780 42 – – 2,066 of which foreign governments 97 1,139 0 – – 1,236 of which corporates 0 238 0 – – 238 of which RMBS 0 167 40 – – 207 of which CMBS 0 171 2 – – 173 Equity 6 119 0 – – 125 Investment securities 250 1,899 42 – – 2,191 Private equity 0 0 29 – 351 380 of which equity funds 0 0 22 – 141 163 Hedge funds 0 0 0 – 391 391 of which debt funds 0 0 0 – 239 239 Other equity investments 25 9 271 – 1,122 1,427 of which private 18 9 271 – 1,122 1,420 Life finance instruments 0 7 1,301 – – 1,308 Other investments 25 16 1,601 – 1,864 3,506 Loans 0 10,777 4,530 – – 15,307 of which commercial and industrial loans 0 3,437 2,207 – – 5,644 of which financial institutions 0 4,890 1,480 – – 6,370 Other intangible assets (mortgage servicing rights) 0 0 158 – – 158 Other assets 101 7,570 1,511 (164) – 9,018 of which loans held-for-sale 0 5,800 1,350 – – 7,150 Total assets at fair value 124,425 287,070 16,642 (128,756) 2,917 302,298 1 Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements. 2 In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the consolidated balance sheet. Assets and liabilities measured at fair value on a recurring basis (continued) 1 Liabilities 2 Liabilities (CHF million) Due to banks 0 197 0 – – 197 Customer deposits 0 3,056 455 – – 3,511 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 0 15,262 0 – – 15,262 Debt 576 802 0 – – 1,378 of which corporates 0 726 0 – – 726 Equity 36,121 529 46 – – 36,696 Obligation to return securities received as collateral 36,697 1,331 46 – – 38,074 Debt 5,160 4,139 2 – – 9,301 of which foreign governments 5,108 746 0 – – 5,854 of which corporates 12 3,334 2 – – 3,348 Equity 14,217 883 55 – 9 15,164 Derivatives 3,731 144,615 3,169 (136,861) – 14,654 of which interest rate products 1,254 80,534 317 – – – of which foreign exchange products 8 35,707 100 – – – of which equity/index-related products 2,468 19,459 1,301 – – – of which credit derivatives 0 7,982 898 – – – Trading liabilities 23,108 149,637 3,226 (136,861) 9 39,119 Short-term borrowings 0 10,174 845 – – 11,019 Long-term debt 0 51,127 12,501 – – 63,628 of which treasury debt over two years 0 936 0 – – 936 of which structured notes over one year and up to two years 0 6,216 149 – – 6,365 of which structured notes over two years 0 32,782 12,259 – – 45,041 of which other debt instruments over two years 0 2,221 61 – – 2,282 of which other subordinated bonds 0 5,567 0 – – 5,567 of which non-recourse liabilities 0 833 30 – – 863 Other liabilities 0 7,379 1,478 (233) – 8,624 of which failed sales 0 439 223 – – 662 Total liabilities at fair value 59,805 238,163 18,551 (137,094) 9 179,434 1 Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements. 2 In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the consolidated balance sheet. Transfers between level 1 and level 2 All transfers between level 1 and level 2 are reported through the last day of the reporting period. In 6M18, transfers to level 1 out of level 2 were from trading assets and trading liabilities. The transfers from trading assets were mainly in exchange-traded derivatives and equity securities as prices became observable. The transfers from trading liabilities were primarily in exchange-traded derivatives as prices became observable. In 6M18, transfers out of level 1 to level 2 were primarily from trading assets, mainly in equity and debt securities, for which suitable closing prices were unobtainable as of the end of 6M18, and trading liabilities, mainly in equity securities, for which suitable closing prices were unobtainable as of the end of 6M18. Transfers between level 1 and level 2 in 6M18 6M17 Transfers Transfers Transfers Transfers Assets (CHF million) Securities received as collateral 8 19 0 137 Debt 42 108 7 206 Equity 521 182 663 161 Derivatives 2,551 1 2,287 0 Trading assets 3,114 291 2,957 367 Liabilities (CHF million) Obligations to return securities received as collateral 8 19 . 0 137 Debt 13 2 0 44 Equity 41 97 49 78 Derivatives 2,837 18 2,594 32 Trading liabilities 2,891 117 2,643 154 Assets and liabilities measured at fair value on a recurring basis for level 3 Accumulated other 1 1 1 Foreign Assets (CHF million) Securities received as collateral 46 0 (15) 58 (80) 0 0 0 0 0 0 0 0 0 9 Debt 2,292 514 (425) 1,503 (1,540) 0 0 (10) (165) 0 (4) 0 0 (4) 2,161 of which corporates 1,412 305 (279) 1,181 (1,289) 0 0 (9) (97) 0 (4) 0 0 13 1,233 of which RMBS 320 161 (120) 289 (146) 0 0 (1) (64) 0 0 0 0 7 446 of which CMBS 16 20 (1) 3 (13) 0 0 0 (5) 0 0 0 0 0 20 of which CDO 126 14 (13) 16 (36) 0 0 0 (1) 0 0 0 0 2 108 Equity 163 40 (22) 39 (81) 0 0 (3) 45 0 (1) 0 0 2 182 Derivatives 3,289 167 (182) 0 0 786 (651) (26) (267) 0 0 0 0 0 3,116 of which interest rate products 801 11 (22) 0 0 61 (45) 0 (92) 0 0 0 0 (7) 707 of which equity/index-related products 833 108 (115) 0 0 242 (234) (17) (56) 0 0 0 0 (14) 747 of which credit derivatives 634 45 (44) 0 0 310 (130) (6) (77) 0 0 0 0 13 745 Other 3,010 22 (62) 22,527 (23,478) 0 (18) 2 107 0 1 0 0 25 2,136 Trading assets 8,754 743 (691) 24,069 (25,099) 786 (669) (37) (280) 0 (4) 0 0 23 7,595 Investment securities 42 0 (4) 153 (28) 0 (157) 0 143 0 0 0 0 4 153 Equity 300 0 (110) 49 (84) 0 0 0 (1) 0 2 0 0 (9) 147 Life finance instruments 1,301 0 0 87 (152) 0 0 0 (52) 0 0 0 0 17 1,201 Other investments 1,601 0 (110) 136 (236) 0 0 0 (53) 0 2 0 0 8 1,348 Loans 4,530 493 (30) 32 (187) 824 (1,403) 0 (103) 0 0 0 0 28 4,184 of which commercial and industrial loans 2,207 57 (25) 0 (30) 366 (707) 0 (22) 0 0 0 0 13 1,859 of which financial institutions 1,480 321 (5) 31 (36) 286 (634) 0 (25) 0 0 0 0 8 1,426 Other intangible assets (mortgage servicing rights) 158 0 0 0 0 0 0 0 0 0 (10) 0 0 3 151 Other assets 1,511 201 (56) 681 (716) 142 (130) 0 (19) 0 0 0 0 (54) 1,560 of which loans held-for-sale 2 1,350 174 (49) 633 (673) 142 (130) 0 (35) 0 0 0 0 (57) 1,355 Total assets at fair value 16,642 1,437 (906) 25,129 (26,346) 1,752 (2,359) (37) (312) 0 (12) 0 0 12 15,000 Liabilities (CHF million) Customer deposits 455 0 0 0 0 0 0 0 41 0 0 0 (21) (9) 466 Obligation to return securities received as collateral 46 0 (15) 58 (80) 0 0 0 0 0 0 0 0 0 9 Trading liabilities 3,226 226 (288) 69 (35) 926 (787) (1) (322) 0 (2) 0 0 31 3,043 of which interest rate derivatives 317 13 (5) 0 0 120 (87) 5 (135) 0 0 0 0 2 230 of which foreign exchange derivatives 100 19 (1) 0 0 44 (4) 0 (1) 0 0 0 0 2 159 of which equity/index-related derivatives 1,301 84 (170) 0 0 328 (339) (7) (76) 0 0 0 0 8 1,129 of which credit derivatives 898 72 (106) 0 0 309 (222) 4 (70) 0 0 0 0 15 900 Short-term borrowings 845 133 (55) 0 0 1,474 (739) (1) (55) 0 (5) 0 36 32 1,665 Long-term debt 12,501 2,035 (1,794) 0 0 2,538 (2,014) 3 (382) 0 0 (2) (128) 206 12,963 of which structured notes over two years 12,259 1,721 (1,728) 0 0 1,927 (1,721) 4 (370) 0 0 (2) (129) 194 12,155 Other liabilities 1,478 19 (29) 7 (115) 0 (356) (6) (23) 0 111 0 0 10 1,096 of which failed sales 223 12 (26) 2 (107) 0 0 0 (6) 0 0 0 0 1 99 Total liabilities at fair value 18,551 2,413 (2,181) 134 (230) 4,938 (3,896) (5) (741) 0 104 (2) (113) 270 19,242 Net assets/(liabilities) at fair value (1,909) (976) 1,275 24,995 (26,116) (3,186) 1,537 (32) 429 0 (116) 2 113 (258) (4,242) 1 For all transfers to level 3 or out of level 3, the Group determines and discloses as level 3 events only gains or losses through the last day of the reporting period. 2 Includes unrealized losses recorded in trading revenues of CHF (22) million primarily related to subprime exposures in securitized products business and market movements across the wider loans held-for-sale portfolio. Assets and liabilities measured at fair value on a recurring basis for level 3 (continued) Accumulated other 1 1 1 Foreign Assets (CHF million) Interest-bearing deposits with banks 1 39 0 0 0 0 0 0 (1) 0 0 0 0 0 39 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 174 0 0 0 0 26 (195) 0 0 0 0 0 0 (5) 0 Securities received as collateral 70 3 (1) 31 (87) 0 0 0 0 0 0 0 0 (2) 14 Debt 3,977 326 (555) 1,447 (2,764) 0 0 (7) (97) 0 6 0 0 (223) 2,110 of which corporates 1,674 113 (279) 1,040 (1,390) 0 0 (6) (40) 0 4 0 0 (117) 999 of which RMBS 605 189 (130) 64 (206) 0 0 2 (62) 0 0 0 0 (31) 431 of which CMBS 65 4 (15) 0 (11) 0 0 (3) (2) 0 0 0 0 (3) 35 of which CDO 1,165 14 (114) 132 (965) 0 0 0 (17) 0 0 0 0 (37) 178 Equity 240 15 (18) 32 (124) 0 0 0 2 0 0 0 0 (12) 135 Derivatives 4,305 215 (657) 0 0 503 (856) 103 (50) 0 0 0 0 (252) 3,311 of which interest rate products 748 4 (32) 0 0 90 (102) 5 34 0 0 0 0 (33) 714 of which equity/index-related products 914 85 (45) 0 0 191 (320) 9 38 0 0 0 0 (59) 813 of which credit derivatives 688 126 (188) 0 0 40 (161) 25 (38) 0 0 0 0 (38) 454 Other 4,243 49 (51) 6,774 (8,022) 0 (221) 3 262 0 0 0 0 (224) 2,813 Trading assets 12,765 605 (1,281) 8,253 (10,910) 503 (1,077) 99 117 0 6 0 0 (711) 8,369 Investment securities 72 0 (16) 64 (80) 0 (67) (1) 68 0 0 0 0 (4) 36 Equity 318 0 0 98 (116) 0 0 0 (12) 0 23 0 0 (19) 292 Life finance instruments 1,588 0 0 96 (245) 0 0 0 22 0 0 0 0 (96) 1,365 Other investments 1,906 0 0 194 (361) 0 0 0 10 0 23 0 0 (115) 1,657 Loans 6,585 491 (372) 54 (487) 631 (1,418) (19) 114 0 0 0 0 (367) 5,212 of which commercial and industrial loans 3,816 216 (103) 51 (321) 250 (1,033) (7) 76 0 0 0 0 (198) 2,747 of which financial institutions 1,829 275 (9) 3 (162) 349 (335) 0 (10) 0 0 0 0 (110) 1,830 Other intangible assets (mortgage servicing rights) 138 0 0 1 (1) 0 0 0 0 0 (2) 0 0 (8) 128 Other assets 1,679 100 (37) 346 (562) 1,010 (95) (2) (123) 0 (1) 0 0 (139) 2,176 of which loans held-for-sale 1,316 55 (26) 317 (447) 1,009 (95) (2) (33) 0 0 0 0 (121) 1,973 Total assets at fair value 23,390 1,238 (1,707) 8,943 (12,488) 2,170 (2,852) 77 185 0 26 0 0 (1,351) 17,631 Liabilities (CHF million) Customer deposits 410 0 0 0 0 26 0 0 (10) 0 0 0 13 (6) 433 Obligation to return securities received as collateral 70 3 (1) 31 (87) 0 0 0 0 0 0 0 0 (2) 14 Trading liabilities 3,737 217 (732) 81 (80) 569 (994) 79 23 0 5 0 0 (225) 2,680 of which interest rate derivatives 538 6 (30) 0 0 13 (229) 3 (6) 0 0 0 0 (25) 270 of which foreign exchange derivatives 150 10 (1) 0 0 5 (4) 0 (57) 0 0 0 0 (8) 95 of which equity/index-related derivatives 1,181 12 (81) 0 0 321 (410) (3) 117 0 0 0 0 (76) 1,061 of which credit derivatives 851 143 (226) 0 0 103 (175) 17 (41) 0 0 0 0 (50) 622 Short-term borrowings 516 89 (22) 0 0 332 (277) (2) 9 0 8 0 0 (33) 620 Long-term debt 13,415 744 (1,623) 0 0 2,289 (1,785) 45 718 0 0 12 124 (943) 12,996 of which structured notes over two years 12,434 603 (1,533) 0 0 1,936 (1,496) 45 726 0 0 12 124 (879) 11,972 Other liabilities 1,684 72 (31) 117 (170) 7 (364) (18) (25) 0 174 0 0 (91) 1,355 of which failed sales 219 20 (13) 106 (131) 0 0 (1) 12 0 0 0 0 (13) 199 Total liabilities at fair value 19,832 1,125 (2,409) 229 (337) 3,223 (3,420) 104 715 0 187 12 137 (1,300) 18,098 Net assets/(liabilities) at fair value 3,558 113 702 8,714 (12,151) (1,053) 568 (27) (530) 0 (161) (12) (137) (51) (467) 1 For all transfers to level 3 or out of level 3, the Group determines and discloses as level 3 events only gains or losses through the last day of the reporting period. Gains and losses on assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (level 3) in 2Q18 2Q17 Trading Other Total Trading Other Total Gains and losses on assets and liabilities (CHF million) Net realized/unrealized gains/(losses) included in net revenues 397 (116) 281 1 (557) (161) (718) 1 Whereof: Unrealized gains/(losses) relating to assets and liabilities still held as of the reporting date (79) 3 (76) (1,107) 11 (1,096) 1 Excludes net realized/unrealized gains/(losses) attributable to foreign currency translation impact. Both observable and unobservable inputs may be used to determine the fair value of positions that have been classified within level 3. As a result, the unrealized gains and losses for assets and liabilities within level 3 presented in the table above may include changes in fair value that were attributable to both observable and unobservable inputs. The Group employs various economic hedging techniques in order to manage risks, including risks in level 3 positions. Such techniques may include the purchase or sale of financial instruments that are classified in levels 1 and/or 2. The realized and unrealized gains and losses for assets and liabilities in level 3 presented in the table above do not reflect the related realized or unrealized gains and losses arising on economic hedging instruments classified in levels 1 and/or 2. Transfers in and out of level 3 Transfers into level 3 assets during 6M18 were CHF 1,437 million, primarily from trading assets and loans. The transfers were primarily in the equity derivatives and financing and credit businesses due to limited observability of pricing data. Transfers out of level 3 assets during 6M18 were CHF 906 million, primarily in trading assets and equity securities. The transfers were primarily in equity derivatives and credit and financing businesses due to increased observability of pricing data and increased availability of pricing information from external providers. Transfers into level 3 assets during 2Q18 were CHF 709 million, primarily from trading assets and loans held-for-sale. The transfers were primarily in equity derivatives and financing and credit businesses due to limited observability of pricing data. Transfers out of level 3 assets during 2Q18 were CHF 424 million, primarily in trading assets and equity investments. The transfers were primarily equity derivative and financing and credit businesses due to increased observability of pricing data and increased availability of pricing information from external providers. Qualitative disclosures of valuation techniques Overview The Group has implemented and maintains a valuation control framework, which is supported by policies and procedures that define the principles for controlling the valuation of the Group’s financial instruments. > Refer to “Note 34 – Financial instruments” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2017 for further information on the Group’s valuation control framework. The following information on the valuation techniques and significant unobservable inputs of the various financial instruments, and the sensitivity of fair value measurements to changes in significant unobservable inputs, should be read in conjunction with the tables “Quantitative information about level 3 assets at fair value” and “Quantitative information about level 3 liabilities at fair value”. Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions Securities purchased under resale agreements and securities sold under repurchase agreements are measured at fair value using discounted cash flow analysis. Future cash flows are discounted using observable market interest rate repurchase/resale curves for the applicable maturity and underlying collateral of the instruments. As such, the significant majority of both securities purchased under resale agreements and securities sold under repurchase agreements are included in level 2 of the fair value hierarchy. Structured resale and repurchase agreements include embedded derivatives, which are measured using the same techniques as described below for stand-alone derivative contracts held for trading purposes or used in hedge accounting relationships. If the value of the embedded derivative is determined using significant unobservable inputs, those structured resale and repurchase agreements are classified within level 3 of the fair value hierarchy. The significant unobservable input is funding spread. Securities purchased under resale agreements are usually fully collateralized or over collateralized by government securities, money market instruments, corporate bonds, or other debt instruments. In the event of counterparty default, the collateral service agreement provides the Group with the right to liquidate the collateral held. Debt securities Foreign governments and corporates Government debt securities typically have quoted prices in active markets and are categorized as level 1 instruments. For debt securities for which market prices are not available, valuations are based on yields reflecting credit rating, historical performance, delinquencies, loss severity, the maturity of the security, recent transactions in the market or other modeling techniques, which may involve judgment. Those securities where the price or model inputs are observable in the market are categorized as level 2 instruments, while those securities where prices are not observable and significant model inputs are unobservable are categorized as level 3 of the fair value hierarchy. Corporate bonds are priced to reflect current market levels either through recent market transactions or broker or dealer quotes. Where a market price for the particular security is not directly available, valuations are obtained based on yields reflected by other instruments in the specific or similar entity’s capital structure and adjusting for differences in seniority and maturity, benchmarking to a comparable security where market data is available (taking into consideration differences in credit, liquidity and maturity), or through the application of cash flow modeling techniques utilizing observable inputs, such as current interest rate curves and observable CDS spreads. Significant unobservable inputs may include price and correlation. For securities using market comparable price, the differentiation between level 2 and level 3 is based upon the relative significance of any yield adjustments as well as the accuracy of the comparison characteristics (i.e., the observable comparable security may be in the same country but a different industry and may have a different seniority level – the lower the comparability the more likely the security will be level 3). CMBS, RMBS and CDO securities Fair values of RMBS, CMBS and CDO may be available through quoted prices, which are often based on the prices at which similarly structured and collateralized securities trade between dealers and to and from customers. Fair values of RMBS, CMBS and CDO for which there are significant unobservable inputs are valued using capitalization rate and discount rate. Price may not be observable for fair value measurement purposes for many reasons, such as the length of time since the last executed transaction for the related security, use of a price from a similar instrument, or use of a price from an indicative quote. Fair values determined by market comparable price may include discounted cash flow models using the inputs prepayment rate, default rate, loss severity, discount rate and credit spread. Prices from similar observable instruments are used to calculate implied inputs which are then used to value unobservable instruments using discounted cash flow. The discounted cash flow price is then compared to the unobservable prices and assessed for reasonableness. For most structured debt securities, determination of fair value requires subjective assessment depending on liquidity, ownership concentration, and the current economic and competitive environment. Valuation is determined based on the Front Office’s own assumptions about how market participants would price the asset. Collateralized bond and loan obligations are split into various structured tranches and each tranche is valued based upon its individual rating and the underlying collateral supporting the structure. Valuation models are used to value both cash and synthetic CDOs. Equity securities The majority of the Group’s positions in equity securities are traded on public stock exchanges for which quoted prices are readily and regularly available and are therefore categorized as level 1 instruments. Level 2 and level 3 equities include fund-linked products, convertible bonds or equity securities with restrictions that are not traded in active markets. Significant unobservable inputs may include market comparable price and earnings before interest, taxes, depreciation and amortization (EBITDA) multiple. Derivatives Derivatives held for trading purposes or used in hedge accounting relationships include both OTC and exchange-traded derivatives. The fair values of exchange-traded derivatives measured using observable exchange prices are included in level 1 of the fair value hierarchy. For exchange-traded derivatives where the volume of trading is low, the observable exchange prices may not be considered executable at the reporting date. These derivatives are valued in the same manner as similar observable OTC derivatives and are included in level 2 of the fair value hierarchy. If the similar OTC derivative used for valuing the exchange-traded derivative is not observable, the exchange-traded derivative is included in level 3 of the fair value hierarchy. The fair values of OTC derivatives are determined on the basis of either industry standard models or internally developed proprietary models. Both model types use various observable and unobservable inputs in order to determine fair value. The inputs include those characteristics of the derivative that have a bearing on the economics of the instrument. The determination of the fair value of many derivatives involves only a limited degree of subjectivity because the required inputs are observable in the marketplace, while more complex derivatives may use unobservable inputs that rely on specific proprietary modeling assumptions. Where observable inputs (prices from exchanges, dealers, brokers or market consensus data providers) are not available, attempts are made to infer values from observable prices through model calibration (spot and forward rates, mean reversion, benchmark interest rate curves and volatility inputs for commonly traded option products). For inputs that cannot be derived from other sources, estimates from historical data may be made. OTC derivatives where the majority of the value is derived from market observable inputs are categorized as level 2 instruments, while those where the majority of the value is derived from unobservable inputs are categorized as level 3 of the fair value hierarchy. The valuation of derivatives includes an adjustment for the cost of funding uncollateralized OTC derivatives. Interest rate derivatives OTC vanilla interest rate products, such as interest rate swaps, swaptions, and caps and floors are valued by discounting the anticipated future cash flows. The future cash flows and discounting are derived from market standard yield curves and industry standard volatility inputs. Where applicable, exchange-traded prices are also used to value exchange-traded futures and options and can be used in yield curve construction. For more complex products, inputs include, but are not limited to correlation, volatility skew, prepayment rate and basis spread. Foreign exchange derivatives Foreign exchange derivatives include vanilla products such as spot, forward and option contracts where the anticipated discounted future cash flows are determined from foreign exchange forward curves and industry standard optionality modeling techniques. Where applicable, exchange-traded prices are also used for futures and option prices. For more complex products inputs include, but are not limited to prepayment rate, correlation, contingent probability and credit spreads. Equity and index-related derivatives Equity derivatives include a variety of products ranging from vanilla options and swaps to exotic structures with bespoke payoff profiles. The main inputs in the valuation of equity derivatives may include volatility, buyback probability, gap risk and correlation. Generally, the interrelationship between the volatility and correlation is positively correlated. Credit derivatives Credit derivatives include index and single name CDS in addition to more complex structured credit products. Vanilla products are valued using industry standard models and inputs that are generally market observable including credit spread and recovery rate. Complex structured credit derivatives are valued using proprietary models requiring unobservable inputs such as recovery rate, credit spread, correlation and funding spread. These inputs are generally implied from available market observable data. Fair values determined by price may include discounted cash flow models using the inputs prepayment rate, default rate, loss severity and discount rate. Other trading assets Other trading assets primarily include RMBS loans and life settlement and premium finance instruments. Life settlement and premium finance instruments are valued using proprietary models with several inputs. The significant unobservable inputs of the fair value for life settlement and premium finance instruments is |
Bank | |
Financial instruments | 29 Financial instruments > Refer to “Note 30 – Financial instruments” in III – Condensed consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q18 and to “Note 33 – Financial instruments” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2017 for further information. Assets and liabilities measured at fair value on a recurring basis 1 Assets 2 Assets (CHF million) Cash and due from banks 0 185 0 – – 185 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 0 75,706 0 – – 75,706 Debt 1,126 858 0 – – 1,984 of which corporates 0 764 0 – – 764 Equity 43,389 140 9 – – 43,538 Securities received as collateral 44,515 998 9 – – 45,522 Debt 24,772 40,750 2,161 – 12 67,695 of which foreign governments 24,521 3,688 219 – – 28,428 of which corporates 123 9,974 1,233 – 12 11,342 of which RMBS 0 22,228 446 – – 22,674 of which CMBS 0 3,191 20 – – 3,211 of which CDO 4 1,450 108 – – 1,562 Equity 39,750 2,841 182 – 1,026 43,799 Derivatives 7,130 133,414 3,116 (124,039) – 19,621 of which interest rate products 2,451 73,145 707 – – – of which foreign exchange products 350 36,435 231 – – – of which equity/index-related products 4,327 17,232 747 – – – of which credit derivatives 0 5,913 745 – – – Other 1,964 572 2,136 – – 4,672 Trading assets 73,616 177,577 7,595 (124,039) 1,038 135,787 Debt 99 2,077 153 – – 2,329 of which foreign governments 99 1,141 0 – – 1,240 of which corporates 0 410 0 – – 410 of which RMBS 0 526 151 – – 677 of which CMBS 0 0 2 – – 2 Investment securities 99 2,077 153 – – 2,329 Private equity 0 0 23 – 399 422 of which equity funds 0 0 23 – 139 162 Hedge funds 0 0 0 – 194 194 of which debt funds 0 0 0 – 121 121 Other equity investments 22 85 124 – 1,083 1,314 of which private 22 84 96 – 1,083 1,285 Life finance instruments 0 0 1,201 – – 1,201 Other investments 22 85 1,348 – 1,676 3,131 Loans 0 11,527 4,184 – – 15,711 of which commercial and industrial loans 0 4,140 1,859 – – 5,999 of which financial institutions 0 5,026 1,426 – – 6,452 Other intangible assets (mortgage servicing rights) 0 0 151 – – 151 Other assets 75 8,293 1,560 (185) – 9,743 of which loans held-for-sale 0 6,281 1,355 – – 7,636 Total assets at fair value 118,327 276,448 15,000 (124,224) 2,714 288,265 1 Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements. 2 In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the consolidated balance sheet. Assets and liabilities measured at fair value on a recurring basis (continued) 1 Liabilities 2 Liabilities (CHF million) Due to banks 0 169 0 – – 169 Customer deposits 0 2,941 466 – – 3,407 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 0 9,457 0 – – 9,457 Debt 1,126 858 0 – – 1,984 of which corporates 0 764 0 – – 764 Equity 43,389 140 9 – – 43,538 Obligation to return securities received as collateral 44,515 998 9 – – 45,522 Debt 4,297 4,214 41 – – 8,552 of which foreign governments 4,272 326 0 – – 4,598 of which corporates 6 3,779 41 – – 3,826 Equity 18,746 242 54 – 2 19,044 Derivatives 8,121 135,095 2,948 (130,981) – 15,183 of which interest rate products 2,749 68,595 230 – – – of which foreign exchange products 326 40,835 159 – – – of which equity/index-related products 5,045 17,919 1,129 – – – of which credit derivatives 0 7,165 900 – – – Trading liabilities 31,164 139,551 3,043 (130,981) 2 42,779 Short-term borrowings 0 10,010 1,665 – – 11,675 Long-term debt 0 48,309 12,963 – – 61,272 of which treasury debt over two years 0 899 0 – – 899 of which structured notes over one year and up to two years 0 7,088 543 – – 7,631 of which structured notes over two years 0 29,659 12,155 – – 41,814 of which other debt instruments over two years 0 2,664 108 – – 2,772 of which other subordinated bonds 0 4,125 1 – – 4,126 of which non-recourse liabilities 0 1,033 39 – – 1,072 Other liabilities 0 6,866 1,085 (216) – 7,735 of which failed sales 0 465 99 – – 564 Total liabilities at fair value 75,679 218,301 19,231 (131,197) 2 182,016 1 Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements. 2 In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the consolidated balance sheet. Assets and liabilities measured at fair value on a recurring basis (continued) 1 Assets 2 Assets (CHF million) Cash and due from banks 0 212 0 – – 212 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 0 77,498 0 – – 77,498 Debt 576 802 0 – – 1,378 of which corporates 0 726 0 – – 726 Equity 36,121 529 46 – – 36,696 Securities received as collateral 36,697 1,331 46 – – 38,074 Debt 29,827 40,707 2,292 – – 72,826 of which foreign governments 29,561 4,256 270 – – 34,087 of which corporates 179 10,292 1,412 – – 11,883 of which RMBS 0 21,399 320 – – 21,719 of which CMBS 0 2,501 16 – – 2,517 of which CDO 0 2,255 126 – – 2,381 Equity 51,125 3,481 163 – 1,053 55,822 Derivatives 3,577 141,641 3,289 (128,607) – 19,900 of which interest rate products 1,219 84,932 801 – – – of which foreign exchange products 19 30,302 188 – – – of which equity/index-related products 2,339 18,544 833 – – – of which credit derivatives 0 7,107 634 – – – Other 2,923 2,293 3,010 – – 8,226 Trading assets 87,452 188,122 8,754 (128,607) 1,053 156,774 Debt 244 1,778 42 – – 2,064 of which foreign governments 98 1,138 0 – – 1,236 of which corporates 0 238 0 – – 238 of which RMBS 0 167 40 – – 207 of which CMBS 0 171 2 – – 173 Equity 6 119 0 – – 125 Investment securities 250 1,897 42 – – 2,189 Private equity 0 0 29 – 343 372 of which equity funds 0 0 22 – 133 155 Hedge funds 0 0 0 – 391 391 of which debt funds 0 0 0 – 239 239 Other equity investments 25 9 271 – 1,121 1,426 of which private 18 9 271 – 1,121 1,419 Life finance instruments 0 7 1,301 – – 1,308 Other investments 25 16 1,601 – 1,855 3,497 Loans 0 10,777 4,530 – – 15,307 of which commercial and industrial loans 0 3,437 2,207 – – 5,644 of which financial institutions 0 4,890 1,480 – – 6,370 Other intangible assets (mortgage servicing rights) 0 0 158 – – 158 Other assets 101 7,570 1,511 (164) – 9,018 of which loans held-for-sale 0 5,800 1,350 – – 7,150 Total assets at fair value 124,525 287,423 16,642 (128,771) 2,908 302,727 1 Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements. 2 In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the consolidated balance sheet. Assets and liabilities measured at fair value on a recurring basis (continued) 1 Liabilities 2 Liabilities (CHF million) Due to banks 0 197 0 – – 197 Customer deposits 0 3,056 455 – – 3,511 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 0 15,262 0 – – 15,262 Debt 576 802 0 – – 1,378 of which corporates 0 726 0 – – 726 Equity 36,121 529 46 – – 36,696 Obligation to return securities received as collateral 36,697 1,331 46 – – 38,074 Debt 5,160 4,139 2 – – 9,301 of which foreign governments 5,108 746 0 – – 5,854 of which corporates 12 3,334 2 – – 3,348 Equity 14,230 883 55 – 9 15,177 Derivatives 3,731 144,929 3,169 (137,175) – 14,654 of which interest rate products 1,254 80,290 317 – – – of which foreign exchange products 8 35,707 100 – – – of which equity/index-related products 2,468 20,017 1,301 – – – of which credit derivatives 0 7,982 898 – – – Trading liabilities 23,121 149,951 3,226 (137,175) 9 39,132 Short-term borrowings 0 10,174 845 – – 11,019 Long-term debt 0 50,121 12,501 – – 62,622 of which treasury debt over two years 0 936 0 – – 936 of which structured notes over one year and up to two years 0 6,216 149 – – 6,365 of which structured notes over two years 0 32,782 12,259 – – 45,041 of which other debt instruments over two years 0 2,221 61 – – 2,282 of which other subordinated bonds 0 4,557 0 – – 4,557 of which non-recourse liabilities 0 833 30 – – 863 Other liabilities 0 7,356 1,467 (233) – 8,590 of which failed sales 0 439 223 – – 662 Total liabilities at fair value 59,818 237,448 18,540 (137,408) 9 178,407 1 Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements. 2 In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the consolidated balance sheet. Transfers between level 1 and level 2 in 6M18 6M17 Transfers Transfers Transfers Transfers Assets (CHF million) Securities received as collateral 8 19 0 137 Debt 42 108 7 206 Equity 521 182 663 161 Derivatives 2,551 1 2,287 0 Trading assets 3,114 291 2,957 367 Liabilities (CHF million) Obligations to return securities received as collateral 8 19 0 137 Debt 13 2 0 44 Equity 41 97 49 78 Derivatives 2,837 18 2,594 32 Trading liabilities 2,891 117 2,643 154 Assets and liabilities measured at fair value on a recurring basis for level 3 Accumulated other 1 1 Foreign Assets (CHF million) Securities received as collateral 46 0 (15) 58 (80) 0 0 0 0 0 0 0 0 0 9 Debt 2,292 514 (425) 1,503 (1,540) 0 0 (10) (165) 0 (4) 0 0 (4) 2,161 of which corporates 1,412 305 (279) 1,181 (1,289) 0 0 (9) (97) 0 (4) 0 0 13 1,233 of which RMBS 320 161 (120) 289 (146) 0 0 (1) (64) 0 0 0 0 7 446 of which CMBS 16 20 (1) 3 (13) 0 0 0 (5) 0 0 0 0 0 20 of which CDO 126 14 (13) 16 (36) 0 0 0 (1) 0 0 0 0 2 108 Equity 163 40 (22) 39 (81) 0 0 (3) 45 0 (1) 0 0 2 182 Derivatives 3,289 167 (182) 0 0 786 (651) (26) (267) 0 0 0 0 0 3,116 of which interest rate products 801 11 (22) 0 0 61 (45) 0 (92) 0 0 0 0 (7) 707 of which equity/index-related products 833 108 (115) 0 0 242 (234) (17) (56) 0 0 0 0 (14) 747 of which credit derivatives 634 45 (44) 0 0 310 (130) (6) (77) 0 0 0 0 13 745 Other 3,010 22 (62) 22,527 (23,478) 0 (18) 2 107 0 1 0 0 25 2,136 Trading assets 8,754 743 (691) 24,069 (25,099) 786 (669) (37) (280) 0 (4) 0 0 23 7,595 Investment securities 42 0 (4) 153 (28) 0 (157) 0 143 0 0 0 0 4 153 Equity 300 0 (109) 48 (84) 0 0 0 (1) 0 2 0 0 (9) 147 Life finance instruments 1,301 0 0 87 (152) 0 0 0 (52) 0 0 0 0 17 1,201 Other investments 1,601 0 (109) 135 (236) 0 0 0 (53) 0 2 0 0 8 1,348 Loans 4,530 493 (30) 32 (187) 824 (1,403) 0 (103) 0 0 0 0 28 4,184 of which commercial and industrial loans 2,207 57 (25) 0 (30) 366 (707) 0 (22) 0 0 0 0 13 1,859 of which financial institutions 1,480 321 (5) 31 (36) 286 (634) 0 (25) 0 0 0 0 8 1,426 Other intangible assets (mortgage servicing rights) 158 0 0 0 0 0 0 0 0 0 (10) 0 0 3 151 Other assets 1,511 201 (56) 681 (716) 142 (130) 0 (19) 0 0 0 0 (54) 1,560 of which loans held-for-sale 2 1,350 174 (49) 633 (673) 142 (130) 0 (35) 0 0 0 0 (57) 1,355 Total assets at fair value 16,642 1,437 (905) 25,128 (26,346) 1,752 (2,359) (37) (312) 0 (12) 0 0 12 15,000 Liabilities (CHF million) Customer deposits 455 0 0 0 0 0 0 0 41 0 0 0 (21) (9) 466 Obligation to return securities received as collateral 46 0 (15) 58 (80) 0 0 0 0 0 0 0 0 0 9 Trading liabilities 3,226 226 (288) 69 (35) 926 (787) (1) (322) 0 (2) 0 0 31 3,043 of which interest rate derivatives 317 13 (5) 0 0 120 (87) 5 (135) 0 0 0 0 2 230 of which foreign exchange derivatives 100 19 (1) 0 0 44 (4) 0 (1) 0 0 0 0 2 159 of which equity/index-related derivatives 1,301 84 (170) 0 0 328 (339) (7) (76) 0 0 0 0 8 1,129 of which credit derivatives 898 72 (106) 0 0 309 (222) 4 (70) 0 0 0 0 15 900 Short-term borrowings 845 133 (55) 0 0 1,474 (739) (1) (55) 0 (5) 0 36 32 1,665 Long-term debt 12,501 1,921 (1,794) 0 0 2,669 (2,014) 3 (402) 0 0 (2) (128) 209 12,963 of which structured notes over two years 12,259 1,721 (1,728) 0 0 1,927 (1,721) 4 (370) 0 0 (2) (129) 194 12,155 Other liabilities 1,467 19 (29) 7 (115) 0 (354) (6) (24) 0 110 0 0 10 1,085 of which failed sales 223 12 (26) 2 (107) 0 0 0 (6) 0 0 0 0 1 99 Total liabilities at fair value 18,540 2,299 (2,181) 134 (230) 5,069 (3,894) (5) (762) 0 103 (2) (113) 273 19,231 Net assets/(liabilities) at fair value (1,898) (862) 1,276 24,994 (26,116) (3,317) 1,535 (32) 450 0 (115) 2 113 (261) (4,231) 1 For all transfers to level 3 or out of level 3, the Bank determines and discloses as level 3 events only gains or losses through the last day of the reporting period. 2 Includes unrealized losses recorded in trading revenues of CHF (22) million primarily related to subprime exposures in securitized products business and market movements across the wider loans held-for-sale portfolio. Assets and liabilities measured at fair value on a recurring basis for level 3 (continued) Accumulated other 1 1 Foreign Assets (CHF million) Interest-bearing deposits with banks 1 39 0 0 0 0 0 0 (1) 0 0 0 0 0 39 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 174 0 0 0 0 26 (195) 0 0 0 0 0 0 (5) 0 Securities received as collateral 70 3 (1) 31 (86) 0 0 0 0 0 0 0 0 (3) 14 Debt 3,977 326 (555) 1,447 (2,764) 0 0 (7) (97) 0 6 0 0 (223) 2,110 of which corporates 1,674 113 (279) 1,040 (1,391) 0 0 (6) (40) 0 4 0 0 (116) 999 of which RMBS 605 189 (130) 64 (206) 0 0 2 (62) 0 0 0 0 (31) 431 of which CMBS 65 4 (14) 0 (11) 0 0 (3) (2) 0 0 0 0 (4) 35 of which CDO 1,165 14 (114) 132 (965) 0 0 0 (17) 0 0 0 0 (37) 178 Equity 240 15 (18) 32 (123) 0 0 0 2 0 0 0 0 (13) 135 Derivatives 4,305 215 (657) 0 0 503 (857) 103 (50) 0 0 0 0 (251) 3,311 of which interest rate products 748 4 (32) 0 0 90 (101) 5 34 0 0 0 0 (34) 714 of which equity/index-related products 914 85 (45) 0 0 191 (321) 9 38 0 0 0 0 (58) 813 of which credit derivatives 688 126 (188) 0 0 40 (160) 25 (38) 0 0 0 0 (39) 454 Other 4,243 49 (51) 6,774 (8,022) 0 (220) 3 262 0 0 0 0 (225) 2,813 Trading assets 12,765 605 (1,281) 8,253 (10,909) 503 (1,077) 99 117 0 6 0 0 (712) 8,369 Investment securities 72 0 (16) 64 (80) 0 (67) (1) 68 0 0 0 0 (4) 36 Equity 318 0 0 89 (106) 0 0 0 (12) 0 23 0 0 (20) 292 Life finance instruments 1,588 0 0 96 (244) 0 0 0 22 0 0 0 0 (97) 1,365 Other investments 1,906 0 0 185 (350) 0 0 0 10 0 23 0 0 (117) 1,657 Loans 6,585 491 (372) 54 (487) 631 (1,419) (19) 114 0 0 0 0 (366) 5,212 of which commercial and industrial loans 3,816 216 (103) 51 (321) 250 (1,033) (7) 76 0 0 0 0 (198) 2,747 of which financial institutions 1,829 275 (9) 3 (162) 349 (337) 0 (10) 0 0 0 0 (108) 1,830 Other intangible assets (mortgage servicing rights) 138 0 0 1 (1) 0 0 0 0 0 (2) 0 0 (8) 128 Other assets 1,679 100 (37) 346 (562) 1,008 (95) (2) (123) 0 (1) 0 0 (137) 2,176 of which loans held-for-sale 1,316 55 (26) 317 (447) 1,008 (95) (2) (33) 0 0 0 0 (120) 1,973 Total assets at fair value 23,390 1,238 (1,707) 8,934 (12,475) 2,168 (2,853) 77 185 0 26 0 0 (1,352) 17,631 Liabilities (CHF million) Customer deposits 410 0 0 0 0 26 0 0 (10) 0 0 0 13 (6) 433 Obligation to return securities received as collateral 70 3 (1) 31 (86) 0 0 0 0 0 0 0 0 (3) 14 Trading liabilities 3,737 217 (733) 81 (80) 569 (994) 79 23 0 5 0 0 (224) 2,680 of which interest rate derivatives 538 6 (30) 0 0 13 (228) 3 (6) 0 0 0 0 (26) 270 of which foreign exchange derivatives 150 10 (1) 0 0 5 (4) 0 (59) 0 0 0 0 (6) 95 of which equity/index-related derivatives 1,181 12 (81) 0 0 321 (411) (3) 117 0 0 0 0 (75) 1,061 of which credit derivatives 851 143 (225) 0 0 103 (175) 17 (41) 0 0 0 0 (51) 622 Short-term borrowings 516 89 (22) 0 0 331 (277) (2) 9 0 8 0 0 (32) 620 Long-term debt 13,415 744 (1,623) 0 0 2,290 (1,785) 45 718 0 0 12 124 (944) 12,996 of which structured notes over two years 12,434 603 (1,533) 0 0 1,936 (1,496) 45 726 0 0 12 124 (879) 11,972 Other liabilities 1,679 72 (31) 117 (170) 7 (365) (18) (25) 0 173 0 0 (90) 1,349 of which failed sales 219 20 (13) 106 (131) 0 0 (1) 12 0 0 0 0 (13) 199 Total liabilities at fair value 19,827 1,125 (2,410) 229 (336) 3,223 (3,421) 104 715 0 186 12 137 (1,299) 18,092 Net assets/(liabilities) at fair value 3,563 113 703 8,705 (12,139) (1,055) 568 (27) (530) 0 (160) (12) (137) (53) (461) 1 For all transfers to level 3 or out of level 3, the Bank determines and discloses as level 3 events only gains or losses through the last day of the reporting period. Gains and losses on assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (level 3) in 6M18 6M17 Trading Other Total Trading Other Total Gains and losses on assets and liabilities (CHF million) Net realized/unrealized gains/(losses) included in net revenues 418 (115) 303 1 (557) (160) (717) 1 Whereof: Unrealized gains/(losses) relating to assets and liabilities still held as of the reporting date (79) 2 (77) (1,107) 10 (1,097) 1 Excludes net realized/unrealized gains/(losses) attributable to foreign currency translation impact. Quantitative information about level 3 assets at fair value Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Securities received as collateral 9 – – – – – Debt 2,161 of which corporates 1,233 of which 653 Option model Correlation, in % (60) 100 62 Volatiliy, in % 0 96 25 of which 493 Market comparable Price, in % 0 104 78 of which RMBS 446 Discounted cash flow Discount rate, in % 0 30 7 Prepayment rate, in % 2 23 9 Default rate, in % 0 8 3 Loss severity, in % 0 100 51 of which CMBS 20 Discounted cash flow Capitalization rate, in % 14 14 14 Discount rate, in % 6 13 11 Prepayment rate, in % 0 27 6 of which CDO 108 Discounted cash flow Discount rate, in % 4 14 7 Prepayment rate, in % 0 20 19 Credit spread, in bp 482 663 576 Default rate, in % 0 2 2 Loss severity, in % 30 100 32 Equity 182 of which 111 Vendor price Price, in actuals 0 427 5 of which 70 Market comparable EBITDA multiple 2 8 7 Price, in % 100 100 100 1 Cash instruments are generally presented on a weighted average basis, while certain derivative instruments either contain a combination of weighted averages and arithmetic means of the related inputs or are presented on an arithmetic mean basis. Quantitative information about level 3 assets at fair value (continued) Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Derivatives 3,116 of which interest rate products 707 Option model Correlation, in % 3 100 76 Prepayment rate, in % 1 25 9 Volatility skew, in % (4) 0 (2) of which equity/index-related products 747 Option model Correlation, in % (60) 100 73 Volatility, in % 0 96 33 Buyback probability, in % 2 50 100 75 Gap risk, in % 3 0 4 1 of which credit derivatives 745 Discounted cash flow Credit spread, in bp 1 2,913 566 Recovery rate, in % 0 45 20 Discount rate, in % 2 28 16 Default rate, in % 2 20 5 Loss severity, in % 16 100 64 Correlation, in % 97 97 97 Prepayment rate, in % 0 20 6 Funding spread, in % 1 2 1 Funding rate, in % 12 12 12 Other 2,136 of which 1,092 Market comparable Price, in % 0 115 16 of which 903 Discounted cash flow Market implied life expectancy, in years 3 16 7 Trading assets 7,595 Investment securities 153 – – – – – Private equity 23 – – – – – Other equity investments 124 – – – – – Life finance instruments 1,201 Discounted cash flow Market implied life expectancy, in years 2 18 6 Other investments 1,348 Loans 4,184 of which commercial and industrial loans 1,859 of which 1,545 Discounted cash flow Credit spread, in bp 90 1,905 510 of which 313 Market comparable Price, in % 0 100 61 of which financial institutions 1,426 of which 1,245 Discounted cash flow Credit spread, in bp 32 1,764 592 Other intangible assets (mortgage servicing rights) 151 – – – – – Other assets 1,560 of which loans held-for-sale 1,355 of which 717 Discounted cash flow Credit spread, in bp 89 1,301 277 Recovery rate, in % 42 87 68 of which 323 Market comparable Price, in % 0 101 88 Total level 3 assets at fair value 15,000 1 Cash instruments are generally presented on a weighted average basis, while certain derivative instruments either contain a combination of weighted averages and arithmetic means of the related inputs or are presented on an arithmetic mean basis. 2 Estimate of the probability of structured notes being put back to the Bank at the option of the investor over the remaining life of the financial instruments. 3 Risk of unexpected large declines in the underlying values occuring between collateral settlement dates. Quantitative information about level 3 assets at fair value (continued) Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Securities received as collateral 46 – – – – – Debt 2,292 of which corporates 1,412 of which 387 Option model Correlation, in % (60) 98 55 of which 545 Market comparable Price, in % 0 139 84 of which 444 Discounted cash flow Credit spread, in bp 37 952 230 of which RMBS 320 Discounted cash flow Discount rate, in % 1 24 11 Prepayment rate, in % 1 36 10 Default rate, in % 0 12 4 Loss severity, in % 0 100 57 of which CMBS 16 Discounted cash flow Capitalization rate, in % 14 14 14 Discount rate, in % 8 16 14 Prepayment rate, in % 0 5 4 of which CDO 126 Discounted cash flow Discount rate, in % 5 13 8 Prepayment rate, in % 5 20 13 Credit spread, in bp 464 669 553 Default rate, in % 2 5 3 Loss severity, in % 0 80 34 Equity 163 of which 67 Vendor price Price, in actuals 0 2,080 10 of which 81 Market comparable EBITDA multiple 2 9 7 Price, in % 18 100 67 1 Cash instruments are generally presented on a weighted average basis, while certain derivative instruments either contain a combination of weighted averages and arithmetic means of the related inputs or are presented on an arithmetic mean basis. Quantitative information about level 3 assets at fair value (continued) Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Derivatives 3,289 of which interest rate products 801 Option model Correlation, in % 20 100 72 Prepayment rate, in % 6 34 17 Volatility skew, in % (4) 1 (1) of which equity/index-related products 833 Option model Correlation, in % (60) 98 65 Volatility, in % 0 105 64 Buyback probability, in % 2 50 100 90 Gap risk, in % 3 0 2 1 of which credit derivatives 634 Discounted cash flow Credit spread, in bp 1 956 217 Recovery rate, in % 0 45 20 Discount rate, in % 3 50 16 Default rate, in % 1 20 5 Loss severity, in % 1 100 64 Correlation, in % 97 97 97 Prepayment rate, in % 0 14 6 Other 3,010 of which 1,605 Market comparable Price, in % 0 110 23 of which 1,095 Discounted cash flow Market implied life expectancy, in years 3 18 8 Trading assets 8,754 Investment securities 42 – – – – – Private equity 29 – – – – – Other equity investments 271 – – – – – Life finance instruments 1,301 Discounted cash flow Market implied life expectancy, in years 2 18 6 Other investments 1,601 Loans 4,530 of which commercial and industrial loans 2,207 of which 1,924 Discounted cash flow Credit spread, in bp 89 1,116 420 of which 250 Market comparable Price, in % 0 99 56 of which financial institutions 1,480 of which 1,426 Discounted cash flow Credit spread, in bp 43 1,430 371 Other intangible assets (mortgage servicing rights) 158 – – – – – Other assets 1,511 of which loans held-for-sale 1,350 of which 849 Discounted cash flow Credit spread, in bp 117 973 292 Recovery rate, in % 18 87 73 of which 280 Market comparable Price, in % 0 102 88 Total level 3 assets at fair value 16,642 1 Cash instruments are generally presented on a weighted average basis, while certain derivative instruments either contain a combination of weighted averages and arithmetic means of the related inputs or are presented on an arithmetic mean basis. 2 Estimate of the probability of structured notes being put back to the Bank at the option of the investor over the remaining life of the financial instruments. 3 Risk of unexpected large declines in the underlying values occuring between collateral settlement dates. Quantitative information about level 3 liabilities at fair value Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Customer deposits 466 – – – – – Obligation to return securities received as collateral 9 – – – – – Trading liabilities 3,043 of which interest rate derivatives 230 of which 165 Option model Basis spread, in bp (31) 147 42 Correlation, in % 20 100 58 Prepayment rate, in % 1 25 7 of which foreign exchange derivatives 159 of which 59 Option model Correlation, in % (10) 70 52 Prepayment rate, in % 21 25 23 of which 31 Discounted cash flow Contingent probability, in % 95 95 95 Credit spread, in bp 267 473 426 47 Market comparable Price, in % 100 101 100 of which equity/index-related derivatives 1,129 of which 1,100 Option model Correlation, in % (60) 100 68 Volatility, in % 0 96 28 Buyback probability, in % 2 50 100 75 of which credit derivatives 900 of which 30 Option model Funding spread, in bp 68 68 68 of which 708 Discounted cash flow Credit spread, in bp 0 2,913 378 Discount rate, in % 2 28 15 Default rate, in % 2 20 4 Recovery rate, in % 20 60 34 Loss severity, in % 16 100 66 Correlation, in % 38 82 49 Funding spread, in % 1 2 2 Funding rate, in % 14 14 14 Prepayment rate, in % 0 20 6 of which 116 Market comparable Price, in % 59 94 79 Short-term borrowings 1,665 of which 1,410 Option model Correlation, in % (40) 100 70 Volatility, in % 3 96 27 of which 252 Discounted cash flow Credit spread, in bp (1) 517 65 Recovery rate, in % 20 49 33 Long-term debt 12,963 of which structured notes over two years 12,155 of which 9,647 Option model Correlation, in % (60) 100 61 Volatility, in % 0 96 23 Buyback probability, in % 2 50 100 75 Gap risk, in % 3 0 4 1 Mean reversion, in % 4 (110) (1) (7) of which 1,496 Discounted cash flow Credit spread, in bp (14) 2,260 98 Other liabilities 1,085 of which failed sales 99 of which 67 Market comparable Price, in % 0 101 52 Total level 3 liabilities at fair value 19,231 1 Cash instruments are generally presented on a weighted average basis, while certain derivative instruments either contain a combination of weighted averages and arithmetic means of the related inputs or are presented on an arithmetic mean basis. 2 Estimate of the probability of structured notes being put back to the Bank at the option of the investor over the remaining life of the financial instruments. 3 Risk of unexpected large declines in the underlying values between collateral settlement dates. 4 Management's best estimate of the speed at which interest rates will revert to the long-term average. Quantitative information about level 3 liabilities at fair value (continued) Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Customer deposits 455 – – – – – Obligation to return securities received as collateral 46 – – – – – Trading liabilities 3,226 of which interest rate derivatives 317 of which 205 Option model Basis spread, in bp (25) 52 19 Correlation, in % 20 100 60 Prepayment rate, in % 6 34 9 of which 81 Market comparable Price, in % 1 102 44 of which foreign exchange derivatives 100 of which 64 Option model Correlation, in % (10) 70 51 Prepayment rate, in % 27 34 30 of which 7 Discounted cash flow Contingent probability, in % 95 95 95 of which equity/index-related derivatives 1,301 of which 947 Option model Correlation, in % (60) 98 55 Volatility, in % 0 105 25 Buyback probability, in % 2 50 100 90 of which 62 Vendor price Price, in actuals 0 53 18 of which credit derivatives 898 Discounted cash flow Credit spread, in bp 2 973 172 Discount rate, in % 3 50 16 Default rate, in % 1 20 5 Recovery rate, in % 10 60 38 Loss severity, in % 25 100 67 Correlation, in % 38 85 54 Prepayment rate, in % 0 20 7 Term TRS/repo spread, in bp 176 176 176 Short-term borrowings 845 of which 288 Option model Correlation, in % (40) 98 60 Volatility, in % 4 105 26 of which 527 Discounted cash flow Credit spread, in bp 2 278 175 Recovery rate, in % 25 40 29 of which 24 Market comparable Price, in % 11 47 47 Long-term debt 12,501 of which structured notes over two years 12,259 of which 9,739 Option model Correlation, in % (60) 99 55 Volatility, in % 0 105 21 Buyback probability, in % 2 50 100 90 Gap risk, in % 3 0 2 1 Mean reversion, in % 4 (14) (1) (6) of which 1,571 Discounted cash flow Credit spread, in bp 2 729 105 Other liabilities 1,467 of which failed sales 223 of which 122 Market comparable Price, in % 0 100 51 of which 25 Discounted cash flow Credit spread, in bp 1,430 1,430 1,430 Total level 3 liabilities at fair value 18,540 1 Cash instruments are generally presented on a weighted average basis, while certain derivative instruments either contain a combination of weighted averages and arithmetic means of the related inputs or are presented on an arithmetic mean basis. 2 Estimate of the probability of structured notes being put back to the Bank at the option of the investor over the remaining life of the financial instruments. 3 Risk of unexpected large declines in the underlying values between collateral settlement dates. 4 Management's best estimate of the speed at which interest rates will revert to the long-term average. Fair value, unfunded commitments and term of redemption conditions end of 6M18 2017 Unfunded Unfunded Fair value and unfunded commitments (CHF million) Debt funds 12 0 12 0 0 0 0 0 Equity funds 76 950 1 1,026 0 61 992 2 1,053 0 Equity funds sold short (1) (1) (2) 0 0 (9) (9) 0 Total funds held in trading assets and liabilities 87 949 1,036 0 61 983 1,044 0 Debt funds 87 34 121 0 164 75 239 0 Equity funds 14 15 29 0 2 53 55 0 Others 2 42 44 0 2 95 97 9 Hedge funds 103 91 3 194 0 168 223 4 391 9 Debt funds 1 0 1 0 1 0 1 0 Equity funds 139 0 139 45 133 0 133 63 Real estate funds 221 0 221 40 178 0 178 44 Others 34 4 38 21 31 0 31 16 Private equities 395 4 399 106 343 0 343 123 Equity method investments 57 1,026 1,083 25 71 1,050 1,121 5 Total funds held in other investments 555 1,121 1,676 131 582 1,273 1,855 137 Total fair value 642 5 2,070 6 2,712 131 7 643 5 2,256 6 2,899 137 7 1 55% of the redeemable fair value amount of equity funds is redeemable on demand with a notice period primarily of less than 30 days, 35% is redeemable on a monthly basis with a notice period primarily of less than 30 days, 8% is redeemable on a quarterly basis with a notice period primarily of more than 45 days, and 1% is redeemable on an annual basis with a notice period primarily of less than 30 days. 2 54% of the redeemable fair value amount of equity funds is redeemable on demand with a notice period primarily of less than 30 days, 35% is redeemable on a monthly basis with a notice period primarily of less than 30 days, 9% is redeemable on a quarterly basis with a notice period primarily of more than 45 days, and 2% is redeemable on an annual basis with a notice period primarily of more than 60 days. 3 68% of the redeemable fair value amount of hedge funds is redeemable on a quarterly basis with a notice period primarily of more than 60 days, 31% is redeemable on demand with a notice period primarily of less than 30 days, and 1% is redeemable on a monthly basis with a notice period primarily of more than 60 days. 4 51% of the redeemable fair value amount of hedge funds is redeemable on a quarterly basis with a notice period primarily of more than 45 days, 43% is redeemable on a monthly basis with a notice period primarily of less than 30 days and 6% is redeemable on demand with a notice period primarily of less than 30 days. 5 Includes CHF 141 million and CHF 229 million attributable to noncontrolling interests as of the end of 6M18 and 2017, respectively. 6 Includes CHF 18 million and CHF 167 million attributable to noncontrolling interests as of the end of 6M18 and 2017, respectively. 7 Includes CHF 27 million and CHF 53 million attributable to noncont |
Assets pledged and collateral
Assets pledged and collateral | 6 Months Ended |
Jun. 30, 2018 | |
Assets pledged and collateral | 31 Assets pledged and collateral The Group pledges assets mainly for repurchase agreements and other securities financing. Certain pledged assets may be encumbered, meaning they have the right to be sold or repledged. The encumbered assets are disclosed on the consolidated balance sheet. Assets pledged end of 2Q18 4Q17 Assets pledged (CHF million) Total assets pledged or assigned as collateral 122,349 130,038 of which encumbered 61,237 73,189 Collateral The Group receives cash and securities in connection with resale agreements, securities borrowing and loans, derivative transactions and margined broker loans. A significant portion of the collateral and securities received by the Group was sold or repledged in connection with repurchase agreements, securities sold not yet purchased, securities borrowings and loans, pledges to clearing organizations, segregation requirements under securities laws and regulations, derivative transactions and bank loans. Collateral end of 2Q18 4Q17 Collateral (CHF million) Fair value of collateral received with the right to sell or repledge 456,723 433,190 of which sold or repledged 211,771 212,155 |
Bank | |
Assets pledged and collateral | 30 Assets pledged and collateral > Refer to “Note 31 – Assets pledged and collateral” in III – Condensed consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q18 and to ”Note 34 – Assets pledged and collateral” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2017 for further information. Assets pledged end of 6M18 2017 Assets pledged (CHF million) Total assets pledged or assigned as collateral 122,349 130,038 of which encumbered 61,237 73,189 Collateral end of 6M18 2017 Collateral (CHF million) Fair value of collateral received with the right to sell or repledge 456,723 433,190 of which sold or repledged 211,771 212,155 |
Litigation
Litigation | 6 Months Ended |
Jun. 30, 2018 | |
Litigation | 32 Litigation The Group is involved in a number of judicial, regulatory and arbitration proceedings concerning matters arising in connection with the conduct of its businesses. The Group’s material proceedings, related provisions and estimate of the aggregate range of reasonably possible losses that are not covered by existing provisions are described in Note 38 – Litigation in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2017 and updated in subsequent quarterly reports (including those discussed below). Some of these proceedings have been brought on behalf of various classes of claimants and seek damages of material and/or indeterminate amounts. The Group accrues loss contingency litigation provisions and takes a charge to income in connection with certain proceedings when losses, additional losses or ranges of loss are probable and reasonably estimable. The Group also accrues litigation provisions for the estimated fees and expenses of external lawyers and other service providers in relation to such proceedings, including in cases for which it has not accrued a loss contingency provision. The Group accrues these fee and expense litigation provisions and takes a charge to income in connection therewith when such fees and expenses are probable and reasonably estimable. The Group reviews its legal proceedings each quarter to determine the adequacy of its litigation provisions and may increase or release provisions based on management’s judgment and the advice of counsel. The establishment of additional provisions or releases of litigation provisions may be necessary in the future as developments in such proceedings warrant. The specific matters described include (a) proceedings where the Group has accrued a loss contingency provision, given that it is probable that a loss may be incurred and such loss is reasonably estimable; and (b) proceedings where the Group has not accrued such a loss contingency provision for various reasons, including, but not limited to, the fact that any related losses are not reasonably estimable. The description of certain of the matters includes a statement that the Group has established a loss contingency provision and discloses the amount of such provision; for the other matters no such statement is made. With respect to the matters for which no such statement is made, either (a) the Group has not established a loss contingency provision, in which case the matter is treated as a contingent liability under the applicable accounting standard, or (b) the Group has established such a provision but believes that disclosure of that fact would violate confidentiality obligations to which the Group is subject or otherwise compromise attorney-client privilege, work product protection or other protections against disclosure or compromise the Group’s management of the matter. The future outflow of funds in respect of any matter for which the Group has accrued loss contingency provisions cannot be determined with certainty based on currently available information, and accordingly may ultimately prove to be substantially greater (or may be less) than the provision that is reflected on the Group’s balance sheet. It is inherently difficult to determine whether a loss is probable or even reasonably possible or to estimate the amount of any loss or loss range for many of the Group’s legal proceedings. Estimates, by their nature, are based on judgment and currently available information and involve a variety of factors, including, but not limited to, the type and nature of the proceeding, the progress of the matter, the advice of counsel, the Group’s defenses and its experience in similar matters, as well as its assessment of matters, including settlements, involving other defendants in similar or related cases or proceedings. Factual and legal determinations, many of which are complex, must be made before a loss, additional losses or ranges of loss can be reasonably estimated for any proceeding. Most matters pending against the Group seek damages of an indeterminate amount. While certain matters specify the damages claimed, such claimed amount may not represent the Group’s reasonably possible losses. For certain of the proceedings discussed the Group has disclosed the amount of damages claimed and certain other quantifiable information that is publicly available. The Group’s aggregate litigation provisions include estimates of losses, additional losses or ranges of loss for proceedings for which such losses are probable and can be reasonably estimated. The Group does not believe that it can estimate an aggregate range of reasonably possible losses for certain of its proceedings because of their complexity, the novelty of some of the claims, the early stage of the proceedings, the limited amount of discovery that has occurred and/or other factors. The Group’s estimate of the aggregate range of reasonably possible losses that are not covered by existing provisions for the proceedings discussed in Note 38 referenced above and updated in quarterly reports (including below) for which the Group believes an estimate is possible is zero to CHF 1.5 billion. In 2Q18, the Group recorded net litigation provisions of CHF 94 million. After taking into account its litigation provisions, the Group believes, based on currently available information and advice of counsel, that the results of its legal proceedings, in the aggregate, will not have a material adverse effect on the Group’s financial condition. However, in light of the inherent uncertainties of such proceedings, including those brought by regulators or other governmental authorities, the ultimate cost to the Group of resolving such proceedings may exceed current litigation provisions and any excess may be material to its operating results for any particular period, depending, in part, upon the operating results for such period. Mortgage-related matters Government and regulatory related matters NYAG litigation On June 12, 2018, the New York State Court of Appeals ordered the partial dismissal of the complaint filed by the New York Attorney General (NYAG) referencing 64 RMBS issued, sponsored, deposited, and underwritten by Credit Suisse Securities (USA) LLC (CSS LLC) and its affiliates in 2006 and 2007. The Court of Appeals held that the NYAG’s claim pursuant to New York’s Martin Act was time-barred and remanded the action to the Supreme Court of the State of New York (SCNY), New York County for further proceedings on the NYAG’s claim pursuant to New York’s Executive Law. Civil litigation The amounts disclosed below do not reflect actual realized plaintiff losses to date or anticipated future litigation exposure. Rather, unless otherwise stated, these amounts reflect the original unpaid principal balance amounts as alleged in these actions and do not include any reduction in principal amounts since issuance. Individual investor actions On May 3, 2018, the Washington State Supreme Court granted a petition for review of the dismissal of the action brought by the Federal Home Loan Bank of Seattle against CSS LLC and its affiliates relating to approximately USD 104 million of RMBS at issue. On July 9, 2018, following a settlement, the Tennessee state court presiding in the action brought by the Tennessee Consolidated Retirement System dismissed with prejudice all claims against CSS LLC relating to approximately USD 24 million of RMBS at issue. On July 27, 2018, following a settlement, the SCNY presiding in the action brought by Phoenix Light SF Ltd. and affiliated entities dismissed with prejudice all claims against CSS LLC and its affiliates related to approximately USD 281 million of RMBS at issue. Bank loan litigation On July 18, 2018, the Bank affiliates filed a request for review by the Texas Supreme Court in the action against Bank affiliates by an entity related to Highland Capital Management LP. Tax and securities law matters On May 19, 2014, Credit Suisse AG entered into settlement agreements with several US regulators regarding its US cross-border matters. As part of the agreements, Credit Suisse AG, among other things, engaged an independent corporate monitor that reports to the New York State Department of Financial Services (DFS). As of July 31, 2018, the monitor has concluded both his review and his assignment. Rates-related matters Regulatory matters On July 26, 2018, Credit Suisse Group AG and certain affiliates received a Statement of Objections from the European Commission (Commission), alleging that Credit Suisse engaged in anticompetitive practices in connection with its foreign exchange trading business. The Statement of Objections sets out the Commission’s preliminary views and does not prejudge the final outcome of its investigation. Civil litigation LIBOR litigation In the multi-district litigation before the US District Court for the Southern District of New York (SDNY), on June 15, 2018, plaintiffs in several non-class actions filed amended complaints or filed for leave to amend their currently operative complaints. On July 13, 2018, defendants moved to dismiss the amended complaints and opposed leave to amend. Foreign exchange litigation On May 31, 2018, plaintiffs served a motion for class certification in the consolidated class action relating to the alleged manipulation of foreign exchange rates. On July 10, 2018, the United States Court of Appeals for the Second Circuit issued an order affirming in full the SDNY’s decision to dismiss the putative US Employee Retirement Income Security Act of 1974 (ERISA) class action against Credit Suisse AG and affiliates as well as other defendant financial institutions and denying plaintiffs’ request for leave to amend their complaint. Mexican government bonds litigation Credit Suisse AG and affiliates have been named in multiple putative class actions in US federal court alleging a conspiracy among Credit Suisse and other dealer banks to manipulate the Mexican government bond market. These actions have been consolidated in the SDNY and on July 18, 2018 plaintiffs filed their consolidated amended complaint. OTC trading cases On May 10, 2018, in the consolidated multi-district litigation relating to interest rate swaps, the SDNY issued an order granting in part and denying in part class plaintiffs’ motion for leave to amend and file a third amended consolidated class action complaint. The SDNY granted plaintiffs’ motion to add a new plaintiff and factual allegations relating to the claims that survived the motion to dismiss, but denied plaintiffs’ attempt to revive the dismissed claims. On May 30, 2018, plaintiffs filed the third amended complaint. On June 14, 2018, a new direct action complaint was filed by swap execution facility trueEx LLC. On June 20, 2018, the trueEx LLC complaint was added to the existing multi-district litigation. Customer account matters On July 17, 2018, the High Court of New Zealand dismissed, subject to appeal, a civil liability lawsuit brought against Credit Suisse AG and an affiliate in connection with claims that a former relationship manager in Switzerland had exceeded his investment authority. The same civil liability lawsuit was stayed against a New Zealand incorporated affiliate. Hiring practices investigation On May 30, 2018, Credit Suisse (Hong Kong) Limited (CSHKL) entered into a non-prosecution agreement to resolve the investigation of past hiring practices between 2007 and 2013 in the Asia Pacific region by the US Department of Justice (DOJ), under which CSHKL paid a penalty of USD 47 million. No criminal charges were filed and no monitor was required. As part of the agreement, Credit Suisse AG will continue to cooperate with the DOJ, will maintain prescribed standards in its compliance programs and will report to the DOJ on the functioning of its enhanced compliance programs. On July 5, 2018, Credit Suisse Group AG reached a settlement with the US Securities and Exchange Commission to resolve the parallel investigation of the same conduct for USD 29.7 million. Write-downs litigation On July 2, 2018, Credit Suisse Group AG and the individual defendants named in the putative class action filed a motion to dismiss the complaint. |
Bank | |
Litigation | 31 Litigation > Refer to “Note 32 – Litigation” in III – Condensed consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q18 for further information. |
Subsidiary guarantee informatio
Subsidiary guarantee information | 6 Months Ended |
Jun. 30, 2018 | |
Subsidiary guarantee information | 33 Subsidiary guarantee information Certain wholly owned finance subsidiaries of the Group, including Credit Suisse Group Funding (Guernsey) Limited, which is a Guernsey incorporated non-cellular company limited by shares, have issued securities fully and unconditionally guaranteed by the Group. There are various legal and regulatory requirements, including the satisfaction of a solvency test under Guernsey law for the Guernsey subsidiary, applicable to some of the Group’s subsidiaries that may limit their ability to pay dividends or distributions and make loans and advances to the Group. On March 26, 2007, the Group and the Bank issued full, unconditional and several guarantees of Credit Suisse (USA), Inc.’s outstanding SEC-registered debt securities. In accordance with the guarantees, if Credit Suisse (USA), Inc. fails to make any timely payment under the agreements governing such debt securities, the holders of the debt securities may demand payment from either the Group or the Bank, without first proceeding against Credit Suisse (USA), Inc. The guarantee from the Group is subordinated to senior liabilities. Credit Suisse (USA), Inc. is an indirect, wholly owned subsidiary of the Group. Condensed consolidating statements of operations Bank 1 Condensed consolidating statements of operations (CHF million) Interest and dividend income 1,048 4,046 5,094 202 (206) 5,090 Interest expense (1,081) (2,386) (3,467) (215) 185 (3,497) Net interest income (33) 1,660 1,627 (13) (21) 1,593 Commissions and fees 924 2,196 3,120 7 32 3,159 Trading revenues 177 357 534 (23) 17 528 Other revenues 417 (87) 330 696 2 (711) 315 Net revenues 1,485 4,126 5,611 667 (683) 5,595 Provision for credit losses 1 72 73 0 0 73 Compensation and benefits 741 1,612 2,353 15 179 2,547 General and administrative expenses 463 1,272 1,735 4 (319) 1,420 Commission expenses 58 270 328 0 0 328 Restructuring expenses 89 56 145 0 30 175 Total other operating expenses 610 1,598 2,208 4 (289) 1,923 Total operating expenses 1,351 3,210 4,561 19 (110) 4,470 Income/(loss) before taxes 133 844 977 648 (573) 1,052 Income tax expense 24 306 330 1 67 398 Net income/(loss) 109 538 647 647 (640) 654 Net income/(loss) attributable to noncontrolling interests 4 5 9 0 (2) 7 Net income/(loss) attributable to shareholders 105 533 638 647 (638) 647 1 Includes eliminations and consolidation adjustments. 2 Primarily consists of revenues from investments in Group companies accounted for under the equity method. Condensed consolidating statements of comprehensive income Bank 1 Comprehensive income (CHF million) Net income/(loss) 109 538 647 647 (640) 654 Gains/(losses) on cash flow hedges 0 (7) (7) (3) 0 (10) Foreign currency translation 596 (39) 557 1 7 565 Unrealized gains/(losses) on securities 0 (8) (8) 0 0 (8) Actuarial gains/(losses) 7 4 11 0 62 73 Net prior service credit/(cost) 0 0 0 0 (29) (29) Gains/(losses) on liabilities related to credit risk 30 643 673 43 45 761 Other comprehensive income/(loss), net of tax 633 593 1,226 41 85 1,352 Comprehensive income/(loss) 742 1,131 1,873 688 (555) 2,006 Comprehensive income/(loss) attributable to noncontrolling interests 8 29 37 0 (25) 12 Comprehensive income/(loss) attributable to shareholders 734 1,102 1,836 688 (530) 1,994 1 Includes eliminations and consolidation adjustments. Condensed consolidating statements of operations (continued) Bank 1 Condensed consolidating statements of operations (CHF million) Interest and dividend income 1,350 3,252 4,602 138 (138) 4,602 Interest expense (1,095) (1,762) (2,857) (151) 143 (2,865) Net interest income 255 1,490 1,745 (13) 5 1,737 Commissions and fees 862 2,007 2,869 7 29 2,905 Trading revenues 21 228 249 (1) (11) 237 Other revenues 226 129 355 321 2 (350) 326 Net revenues 1,364 3,854 5,218 314 (327) 5,205 Provision for credit losses 2 80 82 0 0 82 Compensation and benefits 762 1,815 2,577 19 (1) 2,595 General and administrative expenses 421 1,198 1,619 (12) (80) 1,527 Commission expenses 60 290 350 0 0 350 Restructuring expenses 37 24 61 0 8 69 Total other operating expenses 518 1,512 2,030 (12) (72) 1,946 Total operating expenses 1,280 3,327 4,607 7 (73) 4,541 Income/(loss) before taxes 82 447 529 307 (254) 582 Income tax expense/(benefit) 126 163 289 4 (17) 276 Net income/(loss) (44) 284 240 303 (237) 306 Net income/(loss) attributable to noncontrolling interests 33 (33) 0 0 3 3 Net income/(loss) attributable to shareholders (77) 317 240 303 (240) 303 1 Includes eliminations and consolidation adjustments. 2 Primarily consists of revenues from investments in Group companies accounted for under the equity method. Condensed consolidating statements of comprehensive income (continued) Bank 1 Comprehensive income (CHF million) Net income/(loss) (44) 284 240 303 (237) 306 Gains/(losses) on cash flow hedges 0 8 8 2 0 10 Foreign currency translation (709) (379) (1,088) 0 (13) (1,101) Unrealized gains/(losses) on securities 0 (5) (5) 0 0 (5) Actuarial gains/(losses) 4 9 13 0 69 82 Net prior service credit/(cost) 0 0 0 0 (28) (28) Gains/(losses) on liabilities related to credit risk (6) (556) (562) (26) (42) (630) Other comprehensive income/(loss), net of tax (711) (923) (1,634) (24) (14) (1,672) Comprehensive income/(loss) (755) (639) (1,394) 279 (251) (1,366) Comprehensive income/(loss) attributable to noncontrolling interests 40 (73) (33) 0 30 (3) Comprehensive income/(loss) attributable to shareholders (795) (566) (1,361) 279 (281) (1,363) 1 Includes eliminations and consolidation adjustments. Condensed consolidating statements of operations (continued) Bank 1 Condensed consolidating statements of operations (CHF million) Interest and dividend income 1,996 7,550 9,546 384 (389) 9,541 Interest expense (2,070) (4,233) (6,303) (410) 350 (6,363) Net interest income (74) 3,317 3,243 (26) (39) 3,178 Commissions and fees 1,827 4,299 6,126 14 65 6,205 Trading revenues 461 587 1,048 9 49 1,106 Other revenues 726 53 779 1,375 2 (1,412) 742 Net revenues 2,940 8,256 11,196 1,372 (1,337) 11,231 Provision for credit losses 1 120 121 0 0 121 Compensation and benefits 1,444 3,257 4,701 32 352 5,085 General and administrative expenses 881 2,677 3,558 (2) (628) 2,928 Commission expenses 124 548 672 0 0 672 Restructuring expenses 149 108 257 0 62 319 Total other operating expenses 1,154 3,333 4,487 (2) (566) 3,919 Total operating expenses 2,598 6,590 9,188 30 (214) 9,004 Income/(loss) before taxes 341 1,546 1,887 1,342 (1,123) 2,106 Income tax expense 63 566 629 1 130 760 Net income/(loss) 278 980 1,258 1,341 (1,253) 1,346 Net income/(loss) attributable to noncontrolling interests 4 5 9 0 (4) 5 Net income/(loss) attributable to shareholders 274 975 1,249 1,341 (1,249) 1,341 1 Includes eliminations and consolidation adjustments. 2 Primarily consists of revenues from investments in Group companies accounted for under the equity method. Condensed consolidating statements of comprehensive income (continued) Bank 1 Comprehensive income (CHF million) Net income/(loss) 278 980 1,258 1,341 (1,253) 1,346 Gains/(losses) on cash flow hedges 0 (43) (43) 0 0 (43) Foreign currency translation 236 (174) 62 1 0 63 Unrealized gains/(losses) on securities 0 (13) (13) 0 (1) (14) Actuarial gains/(losses) 6 9 15 0 138 153 Net prior service credit/(cost) 0 0 0 0 (60) (60) Gains/(losses) on liabilities related to credit risk 23 968 991 77 84 1,152 Other comprehensive income/(loss), net of tax 265 747 1,012 78 161 1,251 Comprehensive income/(loss) 543 1,727 2,270 1,419 (1,092) 2,597 Comprehensive income/(loss) attributable to noncontrolling interests 5 11 16 0 (15) 1 Comprehensive income/(loss) attributable to shareholders 538 1,716 2,254 1,419 (1,077) 2,596 1 Includes eliminations and consolidation adjustments. Condensed consolidating statements of operations (continued) Bank 1 Condensed consolidating statements of operations (CHF million) Interest and dividend income 2,611 6,034 8,645 265 (266) 8,644 Interest expense (2,072) (3,133) (5,205) (291) 222 (5,274) Net interest income 539 2,901 3,440 (26) (44) 3,370 Commissions and fees 1,901 3,973 5,874 14 63 5,951 Trading revenues 102 672 774 (4) 41 811 Other revenues 443 209 652 917 2 (962) 607 Net revenues 2,985 7,755 10,740 901 (902) 10,739 Provision for credit losses 4 131 135 0 0 135 Compensation and benefits 1,587 3,701 5,288 35 (23) 5,300 General and administrative expenses 894 2,398 3,292 (34) (130) 3,128 Commission expenses 129 589 718 0 0 718 Restructuring expenses 66 89 155 0 51 206 Total other operating expenses 1,089 3,076 4,165 (34) (79) 4,052 Total operating expenses 2,676 6,777 9,453 1 (102) 9,352 Income/(loss) before taxes 305 847 1,152 900 (800) 1,252 Income tax expense/(benefit) 109 277 386 1 (33) 354 Net income/(loss) 196 570 766 899 (767) 898 Net income/(loss) attributable to noncontrolling interests (9) 7 (2) 0 1 (1) Net income/(loss) attributable to shareholders 205 563 768 899 (768) 899 1 Includes eliminations and consolidation adjustments. 2 Primarily consists of revenues from investments in Group companies accounted for under the equity method. Condensed consolidating statements of comprehensive income (continued) Bank 1 Comprehensive income (CHF million) Net income/(loss) 196 570 766 899 (767) 898 Gains/(losses) on cash flow hedges 0 2 2 4 0 6 Foreign currency translation (1,074) (502) (1,576) (1) (24) (1,601) Unrealized gains/(losses) on securities 0 (7) (7) 0 0 (7) Actuarial gains/(losses) 8 17 25 0 160 185 Net prior service credit/(cost) 0 0 0 0 (67) (67) Gains/(losses) on liabilities related to credit risk (22) (903) (925) (150) (68) (1,143) Other comprehensive income/(loss), net of tax (1,088) (1,393) (2,481) (147) 1 (2,627) Comprehensive income/(loss) (892) (823) (1,715) 752 (766) (1,729) Comprehensive income/(loss) attributable to noncontrolling interests 1 (54) (53) 0 42 (11) Comprehensive income/(loss) attributable to shareholders (893) (769) (1,662) 752 (808) (1,718) 1 Includes eliminations and consolidation adjustments. Condensed consolidating balance sheets Bank 1 Assets (CHF million) Cash and due from banks 2,984 108,652 111,636 266 611 112,513 Interest-bearing deposits with banks 22 995 1,017 501 (496) 1,022 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 57,626 59,991 117,617 0 0 117,617 Securities received as collateral 4,496 41,026 45,522 0 0 45,522 Trading assets 24,408 111,379 135,787 0 (201) 135,586 Investment securities 265 2,064 2,329 19,904 (19,902) 2,331 Other investments 886 4,668 5,554 47,512 (47,440) 5,626 Net loans 12,497 280,681 293,178 0 (5,518) 287,660 Premises and equipment 1,047 3,485 4,532 0 299 4,831 Goodwill 733 3,352 4,085 0 712 4,797 Other intangible assets 189 23 212 0 0 212 Brokerage receivables 21,680 23,452 45,132 0 0 45,132 Other assets 10,709 23,318 34,027 513 769 35,309 Total assets 137,542 663,086 800,628 68,696 (71,166) 798,158 Liabilities and equity (CHF million) Due to banks 99 17,353 17,452 1,277 (1,270) 17,459 Customer deposits 1 368,838 368,839 0 (1,431) 367,408 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 16,831 3,055 19,886 0 0 19,886 Obligation to return securities received as collateral 4,496 41,026 45,522 0 0 45,522 Trading liabilities 9,740 33,039 42,779 0 (3) 42,776 Short-term borrowings 8,808 22,262 31,070 0 (497) 30,573 Long-term debt 54,159 110,951 165,110 23,560 (22,709) 165,961 Brokerage payables 18,468 15,982 34,450 0 0 34,450 Other liabilities 9,462 20,976 30,438 389 (313) 30,514 Total liabilities 122,064 633,482 755,546 25,226 (26,223) 754,549 Total shareholders' equity 15,381 28,958 44,339 43,470 (44,339) 43,470 Noncontrolling interests 97 646 743 0 (604) 139 Total equity 15,478 29,604 45,082 43,470 (44,943) 43,609 Total liabilities and equity 137,542 663,086 800,628 68,696 (71,166) 798,158 1 Includes eliminations and consolidation adjustments. Condensed consolidating balance sheets (continued) Bank 1 Assets (CHF million) Cash and due from banks 3,058 106,452 109,510 516 (211) 109,815 Interest-bearing deposits with banks 32 689 721 493 (488) 726 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 58,212 57,134 115,346 0 0 115,346 Securities received as collateral 5,422 32,652 38,074 0 0 38,074 Trading assets 24,602 132,172 156,774 0 (440) 156,334 Investment securities 245 1,944 2,189 15,612 (15,610) 2,191 Other investments 902 4,991 5,893 45,517 (45,446) 5,964 Net loans 12,456 270,781 283,237 0 (4,088) 279,149 Premises and equipment 1,001 3,444 4,445 0 241 4,686 Goodwill 722 3,314 4,036 0 706 4,742 Other intangible assets 195 28 223 0 0 223 Brokerage receivables 19,717 27,251 46,968 0 0 46,968 Other assets 11,217 19,739 30,956 389 726 32,071 Total assets 137,781 660,591 798,372 62,527 (64,610) 796,289 Liabilities and equity (CHF million) Due to banks 270 15,141 15,411 755 (753) 15,413 Customer deposits 1 362,302 362,303 0 (1,141) 361,162 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 15,352 11,144 26,496 0 0 26,496 Obligation to return securities received as collateral 5,422 32,652 38,074 0 0 38,074 Trading liabilities 6,549 32,583 39,132 0 (13) 39,119 Short-term borrowings 12,224 14,154 26,378 0 (489) 25,889 Long-term debt 50,396 121,646 172,042 19,357 (18,367) 173,032 Brokerage payables 21,585 21,718 43,303 0 0 43,303 Other liabilities 10,454 21,229 31,683 513 (584) 31,612 Total liabilities 122,253 632,569 754,822 20,625 (21,347) 754,100 Total shareholders' equity 15,409 27,261 42,670 41,902 (42,670) 41,902 Noncontrolling interests 119 761 880 0 (593) 287 Total equity 15,528 28,022 43,550 41,902 (43,263) 42,189 Total liabilities and equity 137,781 660,591 798,372 62,527 (64,610) 796,289 1 Includes eliminations and consolidation adjustments. Condensed consolidating statements of cash flows Bank 1 Operating activities of continuing operations (CHF million) Net cash provided by/(used in) operating activities of continuing operations (1,907) 13,692 11,785 (130) 2 156 11,811 Investing activities of continuing operations (CHF million) (Increase)/decrease in interest-bearing deposits with banks 11 (310) (299) (8) 8 (299) (Increase)/decrease in central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 1,462 (2,425) (963) 0 0 (963) Purchase of investment securities 0 (379) (379) (4,846) 4,846 (379) Proceeds from sale of investment securities 0 255 255 0 0 255 Maturities of investment securities 180 131 311 0 0 311 Investments in subsidiaries and other investments (85) (221) (306) (5) 5 (306) Proceeds from sale of other investments 168 474 642 4 (9) 637 (Increase)/decrease in loans 151 (12,169) (12,018) 0 1,416 (10,602) Proceeds from sales of loans 0 3,903 3,903 0 0 3,903 Capital expenditures for premises and equipment and other intangible assets (133) (343) (476) 0 (53) (529) Proceeds from sale of premises and equipment and other intangible assets 0 80 80 0 (51) 29 Other, net 3 201 204 0 0 204 Net cash provided by/(used in) investing activities of continuing operations 1,757 (10,803) (9,046) (4,855) 6,162 (7,739) Financing activities of continuing operations (CHF million) Increase/(decrease) in due to banks and customer deposits (171) 6,811 6,640 522 (803) 6,359 Increase/(decrease) in short-term borrowings (2,189) 6,649 4,460 0 (8) 4,452 Increase/(decrease) in central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 1,206 (7,974) (6,768) 0 0 (6,768) Issuances of long-term debt 7,734 8,299 16,033 4,622 (4,744) 15,911 Repayments of long-term debt (6,104) (14,436) (20,540) 0 0 (20,540) Sale of treasury shares 0 0 0 0 6,175 6,175 Repurchase of treasury shares 0 0 0 (757) (6,142) (6,899) Dividends paid (1) (13) (14) (661) 10 (665) Other, net (448) (462) (910) 1,009 25 124 Net cash provided by/(used in) financing activities of continuing operations 27 (1,126) (1,099) 4,735 (5,487) (1,851) Effect of exchange rate changes on cash and due from banks (CHF million) Effect of exchange rate changes on cash and due from banks 49 437 486 0 (9) 477 Net increase/(decrease) in cash and due from banks (CHF million) Net increase/(decrease) in cash and due from banks (74) 2,200 2,126 (250) 822 2,698 Cash and due from banks at beginning of period 3 3,058 106,452 109,510 516 (211) 109,815 Cash and due from banks at end of period 3 2,984 108,652 111,636 266 611 112,513 1 Includes eliminations and consolidation adjustments. 2 Consists of dividend payments from Group companies of CHF 10 million and CHF 6 million from bank and non-bank subsidiaries, respectively, and other cash items from parent company operations such as Group financing. 3 Includes restricted cash. Condensed consolidating statements of cash flows (continued) Bank 1 Operating activities of continuing operations (CHF million) Net cash provided by/(used in) operating activities of continuing operations (7,549) 6,351 (1,198) (1,063) 2 29 (2,232) Investing activities of continuing operations (CHF million) (Increase)/decrease in interest-bearing deposits with banks 0 126 126 0 0 126 (Increase)/decrease in central bank funds sold, securities purchased under resale agreements and securities borrowing transactions (1,301) (1,029) (2,330) 0 0 (2,330) Purchase of investment securities 0 (44) (44) (1,677) 1,677 (44) Proceeds from sale of investment securities 0 7 7 0 0 7 Maturities of investment securities 76 116 192 0 0 192 Investments in subsidiaries and other investments (160) (727) (887) (4,101) 4,101 (887) Proceeds from sale of other investments 243 588 831 0 0 831 (Increase)/decrease in loans (216) (5,520) (5,736) (3,725) 4,253 (5,208) Proceeds from sales of loans 0 3,785 3,785 0 0 3,785 Capital expenditures for premises and equipment and other intangible assets (117) (355) (472) 0 (1) (473) Proceeds from sale of premises and equipment and other intangible assets 1 50 51 0 (50) 1 Other, net 30 23 53 0 0 53 Net cash provided by/(used in) investing activities of continuing operations (1,444) (2,980) (4,424) (9,503) 9,980 (3,947) Financing activities of continuing operations (CHF million) Increase/(decrease) in due to banks and customer deposits 52 4,177 4,229 259 (264) 4,224 Increase/(decrease) in short-term borrowings 615 2,102 2,717 0 0 2,717 Increase/(decrease) in central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 734 (1,212) (478) 0 0 (478) Issuances of long-term debt 15,419 7,279 22,698 5,719 (5,691) 22,726 Repayments of long-term debt (7,375) (28,271) (35,646) 0 90 (35,556) Issuances of common shares 0 0 0 4,253 0 4,253 Sale of treasury shares 0 0 0 0 5,834 5,834 Repurchase of treasury shares 0 0 0 (565) (5,880) (6,445) Dividends paid (8) (4) (12) (584) 8 (588) Other, net (287) 3,807 3,520 592 (3,842) 270 Net cash provided by/(used in) financing activities of continuing operations 9,150 (12,122) (2,972) 9,674 (9,745) (3,043) Effect of exchange rate changes on cash and due from banks (CHF million) Effect of exchange rate changes on cash and due from banks (166) (2,140) (2,306) 700 (1) (1,607) Net increase/(decrease) in cash and due from banks (CHF million) Net increase/(decrease) in cash and due from banks (9) (10,891) (10,900) (192) 263 (10,829) Cash and due from banks at beginning of period 3 2,491 118,575 121,066 938 (843) 121,161 Cash and due from banks at end of period 3 2,482 107,684 110,166 746 (580) 110,332 1 Includes eliminations and consolidation adjustments. 2 Consists of dividend payments from Group companies of CHF 10 million and CHF 8 million from bank and non-bank subsidiaries, respectively, and other cash items from parent company operations such as Group financing. 3 Includes restricted cash. |
Summary of significant accoun41
Summary of significant accounting policies (Policies) | 6 Months Ended |
Jun. 30, 2018 | |
Basis of presentation | Basis of presentation The accompanying unaudited condensed consolidated financial statements of Credit Suisse Group AG (the Group) are prepared in accordance with accounting principles generally accepted in the US (US GAAP) and are stated in Swiss francs (CHF). These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto for the year ended December 31, 2017 included in the Credit Suisse Annual Report 2017. > Refer to “Note 1 – Summary of significant accounting policies” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2017 for a description of the Group’s significant accounting policies. Certain financial information, which is normally included in annual consolidated financial statements prepared in accordance with US GAAP, but not required for interim reporting purposes, has been condensed or omitted. Certain reclassifications have been made to the prior period’s consolidated financial statements to conform to the current period’s presentation. These condensed consolidated financial statements reflect, in the opinion of management, all adjustments that are necessary for a fair presentation of the condensed consolidated financial statements for the periods presented. The 1Q18 consolidated statements of operations and comprehensive income, the 1Q18 consolidated balance sheets and the 2Q18, 1Q18 and 2Q17 consolidated statements of changes in equity have been added for convenience of the reader and are not a required presentation under US GAAP. The results of operations for interim periods are not indicative of results for the entire year. In preparing these condensed consolidated financial statements, management is required to make estimates and assumptions which affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the condensed consolidated balance sheets and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Bank | |
Basis of presentation | Basis of presentation The accompanying unaudited condensed consolidated financial statements of Credit Suisse AG (the Bank), the direct bank subsidiary of Credit Suisse Group AG (Group), are prepared in accordance with accounting principles generally accepted in the US (US GAAP) and are stated in Swiss francs (CHF). These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto for the year ended December 31, 2017, included in the Credit Suisse Group AG & Credit Suisse AG Annual Report 2017 (Credit Suisse Annual Report 2017). > Refer to “Note 1 – Summary of significant accounting policies” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2017 for a description of the Bank’s significant accounting policies. Certain financial information, which is normally included in annual consolidated financial statements prepared in accordance with US GAAP, but not required for interim reporting purposes, has been condensed or omitted. Certain reclassifications have been made to the prior period’s consolidated financial statements to conform to the current period’s presentation. These condensed consolidated financial statements reflect, in the opinion of management, all adjustments that are necessary for a fair presentation of the condensed consolidated financial statements for the periods presented. The results of operations for interim periods are not indicative of results for the entire year. In preparing these condensed consolidated financial statements, management is required to make estimates and assumptions which affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the condensed consolidated balance sheets and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Segment information (Tables)
Segment information (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Net revenues and income/(loss) from continuing operations before taxes and total assets by segment | Net revenues and income/(loss) before taxes in 2Q18 1Q18 2Q17 6M18 6M17 Net revenues (CHF million) Swiss Universal Bank 1,419 1,431 1,405 2,850 2,759 International Wealth Management 1,344 1,403 1,264 2,747 2,485 Asia Pacific 914 991 848 1,905 1,729 Global Markets 1,426 1,546 1,517 2,972 3,126 Investment Banking & Capital Markets 644 528 511 1,172 1,117 Strategic Resolution Unit (176) (203) (274) (379) (480) Corporate Center 24 (60) (66) (36) 3 Net revenues 5,595 5,636 5,205 11,231 10,739 Income/(loss) before taxes (CHF million) Swiss Universal Bank 553 563 502 1,116 906 International Wealth Management 433 484 365 917 656 Asia Pacific 217 234 188 451 335 Global Markets 148 295 257 443 574 Investment Banking & Capital Markets 110 59 78 169 227 Strategic Resolution Unit (368) (409) (563) (777) (1,102) Corporate Center (41) (172) (245) (213) (344) Income/(loss) before taxes 1,052 1,054 582 2,106 1,252 Total assets end of 2Q18 1Q18 4Q17 Total assets (CHF million) Swiss Universal Bank 220,030 217,179 228,857 International Wealth Management 92,622 89,313 94,753 Asia Pacific 109,336 107,851 96,497 Global Markets 228,941 239,432 242,159 Investment Banking & Capital Markets 18,546 15,380 20,803 Strategic Resolution Unit 27,439 30,163 45,629 Corporate Center 101,244 109,734 67,591 Total assets 798,158 809,052 796,289 |
Bank | |
Net revenues and income/(loss) from continuing operations before taxes and total assets by segment | Net revenues and income before taxes in 6M18 6M17 Net revenues (CHF million) Swiss Universal Bank 2,850 2,759 International Wealth Management 2,747 2,485 Asia Pacific 1,905 1,729 Global Markets 2,972 3,126 Investment Banking & Capital Markets 1,172 1,117 Strategic Resolution Unit (379) (480) Adjustments 1 (71) 4 Net revenues 11,196 10,740 Income/(loss) before taxes (CHF million) Swiss Universal Bank 1,116 906 International Wealth Management 917 656 Asia Pacific 451 335 Global Markets 443 574 Investment Banking & Capital Markets 169 227 Strategic Resolution Unit (777) (1,102) Adjustments 1 (432) (444) Income before taxes 1,887 1,152 1 Adjustments represent certain consolidating entries and balances, including those relating to items that are managed but are not legally owned by the Bank and vice versa, and certain expenses that were not allocated to the segments. Total assets end of 6M18 2017 Total assets (CHF million) Swiss Universal Bank 220,030 228,857 International Wealth Management 92,622 94,753 Asia Pacific 109,336 96,497 Global Markets 228,941 242,159 Investment Banking & Capital Markets 18,546 20,803 Strategic Resolution Unit 27,439 45,629 Adjustments 1 103,714 69,674 Total assets 800,628 798,372 1 Adjustments represent certain consolidating entries and balances, including those relating to items that are managed but are not legally owned by the Bank and vice versa, and certain expenses that were not allocated to the segments. |
Net interest income (Tables)
Net interest income (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Net interest income | in 2Q18 1Q18 2Q17 6M18 6M17 Net interest income (CHF million) Loans 1,679 1,603 1,447 3,282 2,907 Investment securities 20 10 12 30 23 Trading assets 1,968 1,572 2,040 3,540 3,658 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 706 657 632 1,363 1,239 Other 717 609 471 1,326 817 Interest and dividend income 5,090 4,451 4,602 9,541 8,644 Deposits (587) (450) (328) (1,037) (633) Short-term borrowings (123) (82) (40) (205) (73) Trading liabilities (1,144) (860) (1,178) (2,004) (1,966) Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions (477) (399) (324) (876) (577) Long-term debt (982) (910) (893) (1,892) (1,846) Other (184) (165) (102) (349) (179) Interest expense (3,497) (2,866) (2,865) (6,363) (5,274) Net interest income 1,593 1,585 1,737 3,178 3,370 |
Bank | |
Net interest income | in 6M18 6M17 Net interest income (CHF million) Loans 3,285 2,907 Investment securities 30 23 Trading assets 3,540 3,659 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 1,363 1,239 Other 1,328 817 Interest and dividend income 9,546 8,645 Deposits (1,038) (638) Short-term borrowings (210) (73) Trading liabilities (2,004) (1,969) Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions (876) (577) Long-term debt (1,828) (1,771) Other (347) (177) Interest expense (6,303) (5,205) Net interest income 3,243 3,440 |
Commissions and fees (Tables)
Commissions and fees (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Commissions and fees | in 2Q18 1Q18 2Q17 6M18 6M17 Commissions and fees (CHF million) Lending business 529 470 484 999 948 Investment and portfolio management 896 892 841 1,788 1,663 Other securities business 11 12 12 23 22 Fiduciary business 907 904 853 1,811 1,685 Underwriting 513 470 441 983 938 Brokerage 745 810 757 1,555 1,562 Underwriting and brokerage 1,258 1,280 1,198 2,538 2,500 Other services 465 392 370 857 818 Commissions and fees 3,159 3,046 2,905 6,205 5,951 |
Bank | |
Commissions and fees | in 6M18 6M17 Commissions and fees (CHF million) Lending business 984 933 Investment and portfolio management 1,693 1,566 Other securities business 44 39 Fiduciary business 1,737 1,605 Underwriting 983 948 Brokerage 1,556 1,562 Underwriting and brokerage 2,539 2,510 Other services 866 826 Commissions and fees 6,126 5,874 |
Trading revenues (Tables)
Trading revenues (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Trading revenues | in 2Q18 1Q18 2Q17 6M18 6M17 Trading revenues (CHF million) Interest rate products (301) 857 587 556 1,963 Foreign exchange products (31) 184 703 153 1,237 Equity/index-related products 723 (327) (953) 396 (1,871) Credit products 65 34 (143) 99 (581) Commodity and energy products 13 26 28 39 65 Other products 59 (196) 15 (137) (2) Trading revenues 528 578 237 1,106 811 Represents revenues on a product basis which are not representative of business results within segments, as segment results utilize financial instruments across various product types. |
Bank | |
Trading revenues | in 6M18 6M17 Trading revenues (CHF million) Interest rate products 559 1,955 Foreign exchange products 152 1,238 Equity/index-related products 336 (1,901) Credit products 99 (581) Commodity and energy products 39 65 Other products (137) (2) Total 1,048 774 Represents revenues on a product basis which are not representative of business results within segments, as segment results utilize financial instruments across various product types. |
Other revenues (Tables)
Other revenues (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Other revenues | in 2Q18 1Q18 2Q17 6M18 6M17 Other revenues (CHF million) Noncontrolling interests without SEI 0 (1) 0 (1) (1) Loans held-for-sale 1 10 1 11 0 Long-lived assets held-for-sale 0 16 (4) 16 (11) Equity method investments 52 69 65 121 106 Other investments 61 128 30 189 77 Other 201 205 234 406 436 Other revenues 315 427 326 742 607 |
Bank | |
Other revenues | in 6M18 6M17 Other revenues (CHF million) Loans held-for-sale 11 0 Long-lived assets held-for-sale 16 (11) Equity method investments 119 104 Other investments 188 76 Other 445 483 Other revenues 779 652 |
Provision for credit losses (Ta
Provision for credit losses (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Provision for credit losses | in 2Q18 1Q18 2Q17 6M18 6M17 Provision for credit losses (CHF million) Provision for loan losses 60 36 70 96 136 Provision for lending-related and other exposures 13 12 12 25 (1) Provision for credit losses 73 48 82 121 135 |
Bank | |
Provision for credit losses | in 6M18 6M17 Provision for credit losses (CHF million) Provision for loan losses 96 136 Provision for lending-related and other exposures 25 (1) Provision for credit losses 121 135 |
Compensation and benefits (Tabl
Compensation and benefits (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Compensation and benefits | in 2Q18 1Q18 2Q17 6M18 6M17 Compensation and benefits (CHF million) Salaries and variable compensation 2,148 2,189 2,196 4,337 4,542 Social security 200 160 204 360 360 Other 1 199 189 195 388 398 Compensation and benefits 2,547 2,538 2,595 5,085 5,300 1 Includes pension-related expenses of CHF 108 million, CHF 107 million, CHF 106 million, CHF 215 million and CHF 217 million in 2Q18, 1Q18, 2Q17, 6M18 and 6M17, respectively, relating to service costs for defined benefit pension plans and employer contributions for defined contribution pension plans. |
Bank | |
Compensation and benefits | in 6M18 6M17 Compensation and benefits (CHF million) Salaries and variable compensation 3,943 4,461 Social security 315 353 Other 443 1 474 Compensation and benefits 4,701 5,288 1 Includes pension-related expenses of CHF 278 million in 6M18 relating to service costs for defined benefit pension plans and employer contributions for defined contribution pension plans. |
General and administrative ex49
General and administrative expenses (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
General and administrative expenses | in 2Q18 1Q18 2Q17 6M18 6M17 General and administrative expenses (CHF million) Occupancy expenses 248 240 246 488 489 IT, machinery, etc. 273 277 259 550 540 Provisions and losses 97 140 80 237 225 Travel and entertainment 83 94 80 177 163 Professional services 428 483 592 911 1,191 Amortization and impairment of other intangible assets 2 3 2 5 5 Other 1 289 271 268 560 515 General and administrative expenses 1,420 1,508 1,527 2,928 3,128 1 Includes pension-related expenses/(credits) of CHF (52) million, CHF (53) million, CHF (53) million, CHF (105) million and CHF (100) million in 2Q18, 1Q18, 2Q17, 6M18 and 6M17, respectively, relating to certain components of net periodic benefit costs for defined benefit plans. |
Bank | |
General and administrative expenses | in 6M18 6M17 General and administrative expenses (CHF million) Occupancy expenses 435 487 IT, machinery, etc. 428 534 Provisions and losses 237 225 Travel and entertainment 164 157 Professional services 1,490 1,175 Amortization and impairment of other intangible assets 5 5 Other 799 1 709 General and administrative expenses 3,558 3,292 1 Includes pension-related expenses/(credits) of CHF 15 million in 6M18 relating to certain components of net periodic benefit costs for defined benefit plans. |
Restructuring expenses (Tables)
Restructuring expenses (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Restructuring and Related Costs [Table Text Block] | Restructuring expenses by segment in 2Q18 1Q18 2Q17 6M18 6M17 Restructuring expenses by segment (CHF million) Swiss Universal Bank 27 28 (4) 55 48 International Wealth Management 28 26 7 54 43 Asia Pacific 20 6 11 26 30 Global Markets 56 42 32 98 52 Investment Banking & Capital Markets 31 30 10 61 12 Strategic Resolution Unit 13 11 11 24 18 Corporate Center 0 1 2 1 3 Total restructuring expenses 175 144 69 319 206 Restructuring expenses by type in 2Q18 1Q18 2Q17 6M18 6M17 Restructuring expenses by type (CHF million) Compensation and benefits-related expenses 85 103 41 188 128 of which severance expenses 58 69 24 127 86 of which accelerated deferred compensation 27 34 17 61 42 General and administrative-related expenses 90 41 28 131 78 of which pension expenses 25 27 9 52 51 Total restructuring expenses 175 144 69 319 206 |
Restructuring Provisions [Table Text Block] | Restructuring provision 2Q18 1Q18 2Q17 Compen- General and Compen- General and Compen- General and Restructuring provision (CHF million) Balance at beginning of period 204 108 312 196 110 306 220 89 309 Net additional charges 1 58 61 119 69 14 83 24 9 33 Utilization (70) (32) (102) (61) (16) (77) (63) (15) (78) Balance at end of period 192 137 329 204 108 312 181 83 264 1 The following items for which expense accretion was accelerated in 2Q18, 1Q18 and 2Q17 due to the restructuring of the Group are not included in the restructuring provision: unsettled share-based compensation of CHF 20 million, CHF 26 million and CHF 12 million, respectively, which remain classified as a component of total shareholders’ equity; unsettled pension obligations of CHF 25 million, CHF 27 million and CHF 9 million, respectively, which remain classified as pension liabilities; unsettled cash-based deferred compensation of CHF 7 million, CHF 8 million and CHF 5 million, respectively, which remain classified as compensation liabilities; and accelerated accumulated depreciation and impairment of CHF 4 million, CHF 0 million and CHF 10 million, respectively, which remain classified as premises and equipment. The settlement date for the unsettled share-based compensation remains unchanged at three years. Restructuring provision (continued) in 6M18 6M17 Compen- General and Compen- General and Restructuring provision (CHF million) Balance at beginning of period 196 110 306 217 94 311 Net additional charges 1 127 75 202 86 17 103 Utilization (131) (48) (179) (122) (28) (150) Balance at end of period 192 137 329 181 83 264 1 The following items for which expense accretion was accelerated in 6M18 and 6M17 due to the restructuring of the Group are not included in the restructuring provision: unsettled share-based compensation of CHF 46 million and CHF 27 million, respectively, which remain classified as a component of total shareholders’ equity; unsettled pension obligations of CHF 52 million and CHF 51 million, respectively, which remain classified as pension liabilities; unsettled cash-based deferred compensation of CHF 15 million and CHF 15 million, respectively, which remain classified as compensation liabilities; and accelerated accumulated depreciation and impairment of CHF 4 million and CHF 10 million, respectively, which remain classified as premises and equipment. The settlement date for the unsettled share-based compensation remains unchanged at three years. |
Bank | |
Restructuring and Related Costs [Table Text Block] | Restructuring expenses by segment in 6M18 6M17 Restructuring expenses by segment (CHF million) Swiss Universal Bank 55 48 International Wealth Management 54 43 Asia Pacific 26 30 Global Markets 98 52 Investment Banking & Capital Markets 61 12 Strategic Resolution Unit 24 18 Corporate Center 1 3 Adjustments 1 (62) (51) Total restructuring expenses 257 155 1 Adjustments represent certain consolidating entries and balances, including those relating to items that are managed but are not legally owned by the Bank and vice versa. Restructuring expenses by type in 6M18 6M17 Restructuring expenses by type (CHF million) Compensation and benefits-related expenses 180 128 of which severance expenses 119 86 of which accelerated deferred compensation 61 42 General and administrative-related expenses 77 27 Total restructuring expenses 257 155 |
Restructuring Provisions [Table Text Block] | Restructuring provision in 6M18 6M17 Compen- General and Compen- General and Restructuring provision (CHF million) Balance at beginning of period 191 110 301 217 94 311 Net additional charges 1 119 73 192 86 17 103 Utilization (123) (46) (169) (122) (28) (150) Balance at end of period 187 137 324 181 83 264 1 The following items for which expense accretion was accelerated in 6M18 and 6M17 due to the restructuring of the Bank are not included in the restructuring provision: unsettled share-based compensation of CHF 46 million and CHF 27 million, respectively; unsettled cash-based deferred compensation of CHF 15 million and CHF 15 million, respectively, which remain classified as compensation liabilities; and accelerated accumulated depreciation and impairment of CHF 4 million and CHF 10 million, respectively, which remain classified as premises and equipment. The settlement date for the unsettled share-based compensation remains unchanged at three years. |
Earnings per share (Tables)
Earnings per share (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Earnings per share | in 2Q18 1Q18 2Q17 6M18 6M17 Basic net income/(loss) attributable to shareholders (CHF million) Net income attributable to shareholders for basic earnings per share 647 694 303 1,341 899 Diluted net income/(loss) attributable to shareholders (CHF million) Net income attributable to shareholders for diluted earnings per share 647 694 303 1,341 899 Weighted-average shares outstanding (million) Weighted-average shares outstanding for basic earnings per share available for common shares 2,581.9 2,586.4 2,309.6 2,584.1 2,261.9 Dilutive share options and warrants 3.3 2.2 4.2 2.8 4.0 Dilutive share awards 44.9 65.1 40.3 55.0 47.7 Weighted-average shares outstanding for diluted earnings per share available for common shares 1 2,630.1 2,653.7 2,354.1 2,641.9 2,313.6 Earnings/(loss) per share available for common shares (CHF) Basic earnings per share available for common shares 0.25 0.27 0.13 0.52 0.40 Diluted earnings per share available for common shares 0.25 0.26 0.13 0.51 0.39 1 Weighted-average potential common shares relating to instruments that were not dilutive for the respective periods (and therefore not included in the diluted earnings per share calculation above) but could potentially dilute earnings per share in the future were 9.1 million, 11.6 million, 10.4 million, 10.4 million and 9.1 million for 2Q18, 1Q18, 2Q17, 6M18 and 6M17, respectively. |
Revenue from contracts with c52
Revenue from contracts with customers (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Contract with Customer, Asset and Liability [Table Text Block] | Contracts with customers and disaggregation of revenues in 2Q18 1Q18 Contracts with customers (CHF million) Investment and portfolio management 896 892 Other securities business 11 12 Underwriting 513 470 Brokerage 749 810 Other services 471 487 Total revenues from contracts with customers 2,640 2,671 |
Revenue from External Customers by Products and Services [Table Text Block] | Contract balances end of / in 2Q18 1Q18 Contract balances (CHF million) Contract receivables 838 758 Contract liabilities 63 67 Revenue recognized in the reporting period included in the contract liabilities balance at the beginning of period 13 13 |
Bank | |
Contract with Customer, Asset and Liability [Table Text Block] | Contracts with customers and disaggregation of revenues in 2Q18 1Q18 Contracts with customers (CHF million) Investment and portfolio management 850 843 Other securities business 21 23 Underwriting 513 470 Brokerage 748 812 Other services 476 490 Total revenues from contracts with customers 2,608 2,638 |
Revenue from External Customers by Products and Services [Table Text Block] | Contract balances in / end of 2Q18 1Q18 Contract balances (CHF million) Contract receivables 824 745 Contract liabilities 63 67 Revenue recognized in the reporting period included in the contract liabilities balance at the beginning of period 13 13 |
Trading assets and liabilities
Trading assets and liabilities (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Trading assets and liabilities | end of 2Q18 1Q18 4Q17 Trading assets (CHF million) Debt securities 67,595 68,380 72,765 Equity securities 43,754 46,595 55,722 Derivative instruments 1 19,564 20,400 19,621 Other 4,673 4,826 8,226 Trading assets 135,586 140,201 156,334 Trading liabilities (CHF million) Short positions 27,594 29,820 24,465 Derivative instruments 1 15,182 14,935 14,654 Trading liabilities 42,776 44,755 39,119 1 Amounts shown after counterparty and cash collateral netting. |
Cash collateral receivables and payables | Cash collateral on derivative instruments end of 2Q18 1Q18 4Q17 Cash collateral – netted (CHF million) 1 Cash collateral paid 21,195 22,022 23,288 Cash collateral received 14,376 14,165 14,996 Cash collateral – not netted (CHF million) 2 Cash collateral paid 7,488 6,330 5,141 Cash collateral received 8,761 8,749 8,644 1 Recorded as cash collateral netting on derivative instruments in Note 23 – Offsetting of financial assets and financial liabilities. 2 Recorded as cash collateral on derivative instruments in Note 20 – Other assets and other liabilities. |
Bank | |
Trading assets and liabilities | end of 6M18 2017 Trading assets (CHF million) Debt securities 67,695 72,826 Equity securities 43,799 55,822 Derivative instruments 1 19,621 19,900 Other 4,672 8,226 Trading assets 135,787 156,774 Trading liabilities (CHF million) Short positions 27,596 24,478 Derivative instruments 1 15,183 14,654 Trading liabilities 42,779 39,132 1 Amounts shown after counterparty and cash collateral netting. |
Cash collateral receivables and payables | Cash collateral on derivative instruments end of 6M18 2017 Cash collateral – netted (CHF million) 1 Cash collateral paid 21,252 23,587 Cash collateral received 14,376 14,996 Cash collateral – not netted (CHF million) 2 Cash collateral paid 7,488 5,142 Cash collateral received 8,761 8,644 1 Recorded as cash collateral netting on derivative instruments in Note 22 – Offsetting of financial assets and financial liabilities. 2 Recorded as cash collateral on derivative instruments in Note 19 – Other assets and other liabilities. |
Investment securities (Tables)
Investment securities (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Investment securities | end of 2Q18 1Q18 4Q17 Investment securities (CHF million) Securities available-for-sale 2,331 2,146 2,191 Total investment securities 2,331 2,146 2,191 |
Investment securities by type | Investment securities by type end of 2Q18 4Q17 Gross Gross Gross Gross Investment securities by type (CHF million) Debt securities issued by Swiss federal, cantonal or local governmental entities 2 0 0 2 199 13 0 212 Debt securities issued by foreign governments 1,228 12 0 1,240 1,215 21 0 1,236 Corporate debt securities 410 0 0 410 238 0 0 238 Residential mortgage-backed securities 1 677 0 0 677 207 0 0 207 Commercial mortgage-backed securities 2 0 0 2 173 0 0 173 Debt securities available-for-sale 2,319 12 0 2,331 2,032 34 0 2,066 Banks, trust and insurance companies 2 – – – – 95 30 0 125 Equity securities available-for-sale 2 – – – – 95 30 0 125 Securities available-for-sale 2,319 12 0 2,331 2,127 64 0 2,191 1 Relate to the consolidation of RMBS securitization VIEs where the assets are carried at fair value under the fair value option as are the VIEs’ liabilities recorded in long-term debt. 2 As a result of the adoption of ASU 2016-01 equity securities available-for-sale are now recognized in trading assets and no longer in investment securities. Refer to "Note 2 – Recently issued accounting standards" for further information. |
Proceeds from sales, realized gains and realized losses from available-for-sale securities | Proceeds from sales, realized gains and realized losses from available-for-sale securities in 6M18 6M17 Debt Equity 1 Debt Equity Additional information (CHF million) Proceeds from sales 255 – 3 4 Realized gains 8 – 0 0 1 As a result of the adoption of ASU 2016-01 equity securities available-for-sale are now recognized in trading assets and no longer in investment securities. Refer to "Note 2 – Recently issued accounting standards" for further information. |
Amortized cost, fair value and average yield of debt securities | Amortized cost, fair value and average yield of debt securities Debt securities Average 2Q18 (CHF million, except where indicated) Due within 1 year 677 678 0.78 Due from 1 to 5 years 619 629 0.81 Due from 5 to 10 years 344 345 0.76 Due after 10 years 679 679 4.41 Total debt securities 2,319 2,331 1.85 |
Bank | |
Investment securities | end of 6M18 2017 Investment securities (CHF million) Securities available-for-sale 2,329 2,189 Total investment securities 2,329 2,189 |
Investment securities by type | Investment securities by type end of 6M18 2017 Gross Gross Gross Gross Investment securities by type (CHF million) Debt securities issued by the Swiss federal, cantonal or local governmental entities 0 0 0 0 197 13 0 210 Debt securities issued by foreign governments 1,228 12 0 1,240 1,215 21 0 1,236 Corporate debt securities 410 0 0 410 238 0 0 238 Residential mortgage-backed securities 1 677 0 0 677 207 0 0 207 Commercial mortgage-backed securities 2 0 0 2 173 0 0 173 Debt securities available-for-sale 2,317 12 0 2,329 2,030 34 0 2,064 Banks, trust and insurance companies 2 – – – – 95 30 0 125 Equity securities available-for-sale 2 – – – – 95 30 0 125 Securities available-for-sale 2,317 12 0 2,329 2,125 64 0 2,189 1 Relate to the consolidation of RMBS securitization VIEs where the assets are carried at fair value under the fair value option as are the VIEs’ liabilities recorded in long-term debt. 2 As a result of the adoption of ASU 2016-01 equity securities available-for-sale are now recognized in trading assets and no longer in investment securities. Refer to "Note 2 – Recently issued accounting standards" for further information. |
Proceeds from sales, realized gains and realized losses from available-for-sale securities | Proceeds from sales, realized gains and realized losses from available-for-sale securities in 6M18 6M17 Debt Equity 1 Debt Equity Additional information (CHF million) Proceeds from sales 255 – 3 4 Realized gains 8 – 0 0 1 As a result of the adoption of ASU 2016-01 equity securities available-for-sale are now recognized in trading assets and no longer in investment securities. Refer to "Note 2 – Recently issued accounting standards" for further information. |
Amortized cost, fair value and average yield of debt securities | Amortized cost, fair value and average yield of debt securities Debt securities Average 6M18 (CHF million) Due within 1 year 677 678 0.78 Due from 1 to 5 years 617 627 0.81 Due from 5 to 10 years 344 345 0.76 Due after 10 years 679 679 4.41 Total debt securities 2,317 2,329 1.85 |
Other investments (Tables)
Other investments (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Other investments | end of 2Q18 1Q18 4Q17 Other investments (CHF million) Equity method investments 2,989 2,938 3,066 Equity securities (without a readily determinable fair value) 1 1,193 1,092 1,292 of which at net asset value 601 624 742 of which at measurement alternative 187 193 175 of which at fair value 193 66 161 of which at cost less impairment 212 209 214 Real estate held-for-investment 2 173 187 232 Life finance instruments 3 1,271 1,270 1,374 Total other investments 5,626 5,487 5,964 1 Includes private equity, hedge funds and restricted stock investments as well as certain investments in non-marketable mutual funds for which the Group has neither significant influence nor control over the investee. 2 As of the end of 2Q18, 1Q18 and 4Q17, real estate held for investment included foreclosed or repossessed real estate of CHF 10 million, CHF 22 million and CHF 41 million, respectively, all related to residential real estate. 3 Includes life settlement contracts at investment method and SPIA contracts. |
Impairments and adjustments on equity securities at measurement alternative | Equity securities at measurement alternative – impairments and adjustments in / end of 2Q18 Cumulative Impairments and adjustments (CHF million) Impairments and downward adjustments 0 (3) |
Bank | |
Other investments | end of 6M18 2017 Other investments (CHF million) Equity method investments 2,949 3,027 Equity securities (without a readily determinable fair value) 1 1,184 1,283 of which at net asset value 593 734 of which at measurement alternative 187 175 of which at fair value 193 161 of which at cost less impairment 211 213 Real estate held-for-investment 2 150 209 Life finance instruments 3 1,271 1,374 Total other investments 5,554 5,893 1 Includes private equity, hedge funds and restricted stock investments as well as certain investments in non-marketable mutual funds for which the Group has neither significant influence nor control over the investee. 2 As of the end of 6M18 and 2017, real estate held for investment included foreclosed or repossessed real estate of CHF 10 million and CHF 41 million, respectively, all related to residential real estate. 3 Includes life settlement contracts at investment method and SPIA contracts. |
Impairments and adjustments on equity securities at measurement alternative | Equity securities at measurement alternative – impairments and adjustments in / end of 6M18 Cumulative Impairments and adjustments (CHF million) Impairments and downward adjustments (3) (3) |
Loans, allowance for loan los56
Loans, allowance for loan losses and credit quality (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Loans | Loans end of 2Q18 1Q18 4Q17 Loans (CHF million) Mortgages 107,085 106,466 106,039 Loans collateralized by securities 44,025 44,086 42,016 Consumer finance 4,168 4,194 4,242 Consumer 155,278 154,746 152,297 Real estate 25,780 26,327 26,599 Commercial and industrial loans 86,762 83,464 81,670 Financial institutions 16,945 16,465 15,697 Governments and public institutions 3,915 3,827 3,874 Corporate & institutional 133,402 130,083 127,840 Gross loans 288,680 284,829 280,137 of which held at amortized cost 272,969 270,112 264,830 of which held at fair value 15,711 14,717 15,307 Net (unearned income)/deferred expenses (115) (117) (106) Allowance for loan losses (905) (858) (882) Net loans 287,660 283,854 279,149 Gross loans by location (CHF million) Switzerland 159,698 158,800 157,696 Foreign 128,982 126,029 122,441 Gross loans 288,680 284,829 280,137 Impaired loan portfolio (CHF million) Non-performing loans 1,157 1,075 1,048 Non-interest-earning loans 309 267 223 Non-performing and non-interest-earning loans 1,466 1,342 1,271 Restructured loans 207 216 290 Potential problem loans 429 408 549 Other impaired loans 636 624 839 Gross impaired loans 2,102 1,966 2,110 |
Allowance for loan losses | Allowance for loan losses by loan portfolio 2Q18 1Q18 2Q17 Corporate & Corporate & Corporate & Allowance for loan losses (CHF million) Balance at beginning of period 204 654 858 220 662 882 217 682 899 Net movements recognized in statements of operations 16 44 60 4 32 36 14 56 70 Gross write-offs (15) (27) (42) (24) (54) (78) (17) (36) (53) Recoveries 2 8 10 3 13 16 2 7 9 Net write-offs (13) (19) (32) (21) (41) (62) (15) (29) (44) Provisions for interest 4 3 7 2 6 8 3 2 5 Foreign currency translation impact and other adjustments, net 2 10 12 (1) (5) (6) (4) (9) (13) Balance at end of period 213 692 905 204 654 858 215 702 917 of which individually evaluated for impairment 172 474 646 164 464 628 172 540 712 of which collectively evaluated for impairment 41 218 259 40 190 230 43 162 205 Gross loans held at amortized cost (CHF million) Balance at end of period 155,258 117,711 272,969 154,726 115,386 270,112 149,718 108,550 258,268 of which individually evaluated for impairment 1 633 1,469 2,102 646 1,320 1,966 607 1,633 2,240 of which collectively evaluated for impairment 154,625 116,242 270,867 154,080 114,066 268,146 149,111 106,917 256,028 6M18 6M17 Corporate & Corporate & Allowance for loan losses (CHF million) Balance at beginning of period 220 662 882 216 722 938 Net movements recognized in statements of operations 20 76 96 31 105 136 Gross write-offs (39) (81) (120) (31) (121) (152) Recoveries 5 21 26 8 13 21 Net write-offs (34) (60) (94) (23) (108) (131) Provisions for interest 6 9 15 (5) 4 (1) Foreign currency translation impact and other adjustments, net 1 5 6 (4) (21) (25) Balance at end of period 213 692 905 215 702 917 1 Represents gross impaired loans both with and without a specific allowance. |
Purchases, reclassifications and sales | Purchases, reclassifications and sales in 2Q18 1Q18 2Q17 Corporate & Corporate & Corporate & Loans held at amortized cost (CHF million) Purchases 1 0 779 779 0 617 617 0 734 734 Reclassifications from loans held-for-sale 2 0 1 1 0 0 0 0 0 0 Reclassifications to loans held-for-sale 3 1 943 944 0 704 704 0 705 705 Sales 3 1 887 888 0 673 673 0 907 907 1 Includes drawdowns under purchased loan commitments. 2 Includes loans previously reclassified to held-for-sale that were not sold and were reclassified back to loans held-to-maturity. 3 All loans held at amortized cost which are sold are reclassified to loans held-for-sale on or prior to the date of the sale. Purchases, reclassifications and sales (continued) in 6M18 6M17 Corporate & Corporate & Loans held at amortized cost (CHF million) Purchases 1 0 1,396 1,396 0 1,658 1,658 Reclassifications from loans held-for-sale 2 0 1 1 0 0 0 Reclassifications to loans held-for-sale 3 1 1,647 1,648 0 3,809 3,809 Sales 3 1 1,560 1,561 0 3,696 3,696 1 Includes drawdowns under purchased loan commitments. 2 Includes loans previously reclassified to held-for-sale that were not sold and were reclassified back to loans held-to-maturity. 3 All loans held at amortized cost which are sold are reclassified to loans held-for-sale on or prior to the date of the sale. |
Gross loans held at amortized cost by internal counterparty rating | Gross loans held at amortized cost by internal counterparty rating Investment Non-investment end of AAA to BBB BB to C D Total 2Q18 (CHF million) Mortgages 95,851 10,913 321 107,085 Loans collateralized by securities 39,944 3,985 96 44,025 Consumer finance 1,724 2,246 178 4,148 Consumer 137,519 17,144 595 155,258 Real estate 19,389 5,766 121 25,276 Commercial and industrial loans 42,332 37,183 1,247 80,762 Financial institutions 8,518 1,930 47 10,495 Governments and public institutions 1,115 63 0 1,178 Corporate & institutional 71,354 44,942 1,415 117,711 Gross loans held at amortized cost 208,873 62,086 2,010 272,969 Value of collateral 1 193,758 49,991 1,408 245,157 4Q17 (CHF million) Mortgages 94,553 11,214 272 106,039 Loans collateralized by securities 38,387 3,530 99 42,016 Consumer finance 1,801 2,241 180 4,222 Consumer 134,741 16,985 551 152,277 Real estate 20,278 5,640 85 26,003 Commercial and industrial loans 39,475 35,250 1,300 76,025 Financial institutions 7,258 2,022 46 9,326 Governments and public institutions 1,124 74 1 1,199 Corporate & institutional 68,135 42,986 1,432 112,553 Gross loans held at amortized cost 202,876 59,971 1,983 264,830 Value of collateral 1 189,048 49,271 1,422 239,741 1 Includes the value of collateral up to the amount of the outstanding related loans. For mortgages, the value of collateral is determined at the time of granting the loan and thereafter regularly reviewed according to the Group's risk management policies and directives, with maximum review periods determined by property type, market liquidity and market transparency. |
Past Due Financing Receivables [Table Text Block] | Gross loans held at amortized cost – aging analysis Current Past due Up to 31–60 61–90 More than 2Q18 (CHF million) Mortgages 106,648 157 20 11 249 437 107,085 Loans collateralized by securities 43,921 3 0 2 99 104 44,025 Consumer finance 3,575 344 44 43 142 573 4,148 Consumer 154,144 504 64 56 490 1,114 155,258 Real estate 25,184 20 6 1 65 92 25,276 Commercial and industrial loans 79,504 372 128 98 660 1,258 80,762 Financial institutions 10,279 164 4 4 44 216 10,495 Governments and public institutions 1,175 3 0 0 0 3 1,178 Corporate & institutional 116,142 559 138 103 769 1,569 117,711 Gross loans held at amortized cost 270,286 1,063 202 159 1,259 2,683 272,969 4Q17 (CHF million) Mortgages 105,689 102 27 14 207 350 106,039 Loans collateralized by securities 41,867 37 0 0 112 149 42,016 Consumer finance 3,701 297 39 40 145 521 4,222 Consumer 151,257 436 66 54 464 1,020 152,277 Real estate 25,871 37 12 15 68 132 26,003 Commercial and industrial loans 74,831 429 40 201 524 1,194 76,025 Financial institutions 8,947 333 1 2 43 379 9,326 Governments and public institutions 1,197 1 0 0 1 2 1,199 Corporate & institutional 110,846 800 53 218 636 1,707 112,553 Gross loans held at amortized cost 262,103 1,236 119 272 1,100 2,727 264,830 |
Gross impaired loans by category | Gross impaired loans by category Non-performing and Non- 2Q18 (CHF million) Mortgages 260 10 270 42 39 81 351 1 Loans collateralized by securities 85 13 98 0 2 2 100 Consumer finance 175 6 181 0 1 1 182 Consumer 520 29 549 42 42 84 633 Real estate 101 4 105 0 22 22 127 Commercial and industrial loans 535 233 768 165 362 527 1,295 Financial institutions 1 43 44 0 3 3 47 Corporate & institutional 637 280 917 165 387 552 1,469 Gross impaired loans 1,157 309 1,466 207 429 636 2,102 4Q17 (CHF million) Mortgages 236 17 253 13 66 79 332 1 Loans collateralized by securities 96 16 112 0 2 2 114 Consumer finance 176 9 185 0 1 1 186 Consumer 508 42 550 13 69 82 632 Real estate 73 4 77 0 19 19 96 Commercial and industrial loans 465 134 599 277 458 735 1,334 Financial institutions 1 43 44 0 3 3 47 Governments and public institutions 1 0 1 0 0 0 1 Corporate & institutional 540 181 721 277 480 757 1,478 Gross impaired loans 1,048 223 1,271 290 549 839 2,110 1 As of the end of 2Q18 and 4Q17, CHF 118 million and CHF 90 million, respectively, were related to consumer mortgages secured by residential real estate for which formal foreclosure proceedings according to local requirements of the applicable jurisdiction were in process. |
Gross impaired loan detail | Gross impaired loan detail end of 2Q18 4Q17 Unpaid Associated Unpaid Associated Gross impaired loan detail (CHF million) Mortgages 270 256 29 254 239 36 Loans collateralized by securities 100 83 52 111 97 49 Consumer finance 179 158 91 180 160 94 Consumer 549 497 172 545 496 179 Real estate 123 116 11 86 79 11 Commercial and industrial loans 954 925 425 997 959 427 Financial institutions 47 47 38 47 46 37 Governments and public institutions 0 0 0 1 1 0 Corporate & institutional 1,124 1,088 474 1,131 1,085 475 Gross impaired loans with a specific allowance 1,673 1,585 646 1,676 1,581 654 Mortgages 81 81 – 78 78 – Loans collateralized by securities 0 0 – 3 3 – Consumer finance 3 3 – 6 6 – Consumer 84 84 – 87 87 – Real estate 4 4 – 10 10 – Commercial and industrial loans 341 341 – 337 337 – Corporate & institutional 345 345 – 347 347 – Gross impaired loans without specific allowance 429 429 – 434 434 – Gross impaired loans 2,102 2,014 646 2,110 2,015 654 of which consumer 633 581 172 632 583 179 of which corporate & institutional 1,469 1,433 474 1,478 1,432 475 Gross impaired loan detail (continued) in 2Q18 1Q18 2Q17 Interest Interest Interest Gross impaired loan detail (CHF million) Mortgages 266 1 0 255 0 0 233 1 1 Loans collateralized by securities 98 0 0 102 1 1 112 0 0 Consumer finance 177 1 1 176 0 0 169 1 1 Consumer 541 2 1 533 1 1 514 2 2 Real estate 94 0 0 87 0 0 71 0 0 Commercial and industrial loans 949 2 0 903 7 4 1,110 3 1 Financial institutions 47 0 0 45 0 0 76 0 0 Governments and public institutions 0 0 0 1 0 0 6 0 0 Corporate & institutional 1,090 2 0 1,036 7 4 1,263 3 1 Gross impaired loans with a specific allowance 1,631 4 1 1,569 8 5 1,777 5 3 Mortgages 109 1 0 87 1 0 87 1 0 Loans collateralized by securities 0 0 0 1 0 0 9 0 0 Consumer finance 2 0 0 3 0 0 1 0 0 Consumer 111 1 0 91 1 0 97 1 0 Real estate 3 1 0 2 0 0 37 0 0 Commercial and industrial loans 277 2 0 323 3 0 289 3 1 Corporate & institutional 280 3 0 325 3 0 326 3 1 Gross impaired loans without specific allowance 391 4 0 416 4 0 423 4 1 Gross impaired loans 2,022 8 1 1,985 12 5 2,200 9 4 of which consumer 652 3 1 624 2 1 611 3 2 of which corporate & institutional 1,370 5 0 1,361 10 4 1,589 6 2 Gross impaired loan detail (continued) in 6M18 6M17 Interest Interest Gross impaired loan detail (CHF million) Mortgages 260 1 0 217 1 1 Loans collateralized by securities 101 1 1 121 0 0 Consumer finance 177 1 1 170 1 1 Consumer 538 3 2 508 2 2 Real estate 90 0 0 71 0 0 Commercial and industrial loans 928 9 4 1,167 8 3 Financial institutions 46 0 0 92 0 0 Governments and public institutions 1 0 0 8 0 0 Corporate & institutional 1,065 9 4 1,338 8 3 Gross impaired loans with a specific allowance 1,603 12 6 1,846 10 5 Mortgages 97 2 0 81 2 0 Loans collateralized by securities 0 0 0 11 0 0 Consumer finance 3 0 0 4 0 0 Consumer 100 2 0 96 2 0 Real estate 3 1 0 31 0 0 Commercial and industrial loans 300 5 0 278 5 1 Corporate & institutional 303 6 0 309 5 1 Gross impaired loans without specific allowance 403 8 0 405 7 1 Gross impaired loans 2,006 20 6 2,251 17 6 of which consumer 638 5 2 604 4 2 of which corporate & institutional 1,368 15 4 1,647 13 4 |
Restructured loans held at amortized cost | Restructured loans held at amortized cost in 2Q18 1Q18 2Q17 Recorded Recorded Recorded Recorded Recorded Recorded Restructured loans (CHF million, except where indicated) Mortgages 5 29 29 0 0 0 0 0 0 Commercial and industrial loans 0 0 0 3 15 14 5 14 14 Total 5 29 29 3 15 14 5 14 14 in 6M18 6M17 Recorded Recorded Recorded Recorded Restructured loans (CHF million, except where indicated) Mortgages 5 29 29 0 0 0 Commercial and industrial loans 3 15 14 9 49 49 Total 8 44 43 9 49 49 |
Bank | |
Loans | Loans end of 6M18 2017 Loans (CHF million) Mortgages 107,085 106,039 Loans collateralized by securities 44,025 42,016 Consumer finance 4,168 4,242 Consumer 155,278 152,297 Real estate 25,780 26,599 Commercial and industrial loans 87,353 81,792 Financial institutions 21,871 19,662 Governments and public institutions 3,915 3,874 Corporate & institutional 138,919 131,927 Gross loans 294,197 284,224 of which held at amortized cost 278,486 268,917 of which held at fair value 15,711 15,307 Net (unearned income)/deferred expenses (115) (106) Allowance for loan losses (904) (881) Net loans 293,178 283,237 Gross loans by location (CHF million) Switzerland 164,541 161,645 Foreign 129,656 122,579 Gross loans 294,197 284,224 Impaired loan portfolio (CHF million) Non-performing loans 1,157 1,048 Non-interest-earning loans 297 210 Total non-performing and non-interest-earning loans 1,454 1,258 Restructured loans 207 290 Potential problem loans 429 549 Total other impaired loans 636 839 Gross impaired loans 2,090 2,097 |
Allowance for loan losses | Allowance for loan losses by loan portfolio 6M18 6M17 Corporate Corporate Allowance for loan losses (CHF million) Balance at beginning of period 220 661 881 216 721 937 Net movements recognized in statements of operations 20 76 96 31 105 136 Gross write-offs (39) (81) (120) (31) (121) (152) Recoveries 5 21 26 8 13 21 Net write-offs (34) (60) (94) (23) (108) (131) Provisions for interest 6 9 15 (5) 4 (1) Foreign currency translation impact and other adjustments, net 1 5 6 (4) (21) (25) Balance at end of period 213 691 904 215 701 916 of which individually evaluated for impairment 172 473 645 172 539 711 of which collectively evaluated for impairment 41 218 259 43 162 205 Gross loans held at amortized cost (CHF million) Balance at end of period 155,258 123,228 278,486 149,718 112,051 261,769 of which individually evaluated for impairment 1 633 1,457 2,090 607 1,621 2,228 of which collectively evaluated for impairment 154,625 121,771 276,396 149,111 110,430 259,541 1 Represents gross impaired loans both with and without a specific allowance. |
Purchases, reclassifications and sales | Purchases, reclassifications and sales in 6M18 6M17 Corporate Corporate Loans held at amortized cost (CHF million) Purchases 1 0 1,396 1,396 0 1,658 1,658 Reclassifications from loans held-for-sale 2 0 1 1 0 0 0 Reclassifications to loans held-for-sale 3 1 1,647 1,648 0 3,809 3,809 Sales 3 1 1,560 1,561 0 3,696 3,696 1 Includes drawdowns under purchased loan commitments. 2 Includes loans previously reclassified to held-for-sale that were not sold and were reclassified back to loans held-to-maturity. 3 All loans held at amortized cost which are sold are reclassified to loans held-for-sale on or prior to the date of the sale. |
Gross loans held at amortized cost by internal counterparty rating | Gross loans held at amortized cost by internal counterparty rating Investment Non-investment end of AAA to BBB BB to C D Total 6M18 (CHF million) Mortgages 95,851 10,913 321 107,085 Loans collateralized by securities 39,944 3,985 96 44,025 Consumer finance 1,724 2,246 178 4,148 Consumer 137,519 17,144 595 155,258 Real estate 19,389 5,766 121 25,276 Commercial and industrial loans 42,935 37,183 1,235 81,353 Financial institutions 13,444 1,930 47 15,421 Governments and public institutions 1,115 63 0 1,178 Corporate & institutional 76,883 44,942 1,403 123,228 Gross loans held at amortized cost 214,402 62,086 1,998 278,486 Value of collateral 1 193,801 49,991 1,396 245,188 2017 (CHF million) Mortgages 94,553 11,214 272 106,039 Loans collateralized by securities 38,387 3,530 99 42,016 Consumer finance 1,801 2,241 180 4,222 Consumer 134,741 16,985 551 152,277 Real estate 20,278 5,640 85 26,003 Commercial and industrial loans 39,610 35,250 1,287 76,147 Financial institutions 11,223 2,022 46 13,291 Governments and public institutions 1,124 74 1 1,199 Corporate & institutional 72,235 42,986 1,419 116,640 Gross loans held at amortized cost 206,976 59,971 1,970 268,917 Value of collateral 1 189,092 49,271 1,409 239,772 1 Includes the value of collateral up to the amount of the outstanding related loans. For mortgages, the value of collateral is determined at the time of granting the loan and thereafter regularly reviewed according to the Bank's risk management policies and directives, with maximum review periods determined by property type, market liquidity and market transparency. |
Past Due Financing Receivables [Table Text Block] | Gross loans held at amortized cost – aging analysis Current Past due More 6M18 (CHF million) Mortgages 106,648 157 20 11 249 437 107,085 Loans collateralized by securities 43,921 3 0 2 99 104 44,025 Consumer finance 3,575 344 44 43 142 573 4,148 Consumer 154,144 504 64 56 490 1,114 155,258 Real estate 25,184 20 6 1 65 92 25,276 Commercial and industrial loans 80,107 372 128 98 648 1,246 81,353 Financial institutions 15,205 164 4 4 44 216 15,421 Governments and public institutions 1,175 3 0 0 0 3 1,178 Corporate & institutional 121,671 559 138 103 757 1,557 123,228 Gross loans held at amortized cost 275,815 1,063 202 159 1,247 2,671 278,486 2017 (CHF million) Mortgages 105,689 102 27 14 207 350 106,039 Loans collateralized by securities 41,867 37 0 0 112 149 42,016 Consumer finance 3,701 297 39 40 145 521 4,222 Consumer 151,257 436 66 54 464 1,020 152,277 Real estate 25,871 37 12 15 68 132 26,003 Commercial and industrial loans 74,966 429 40 201 511 1,181 76,147 Financial institutions 12,912 333 1 2 43 379 13,291 Governments and public institutions 1,197 1 0 0 1 2 1,199 Corporate & institutional 114,946 800 53 218 623 1,694 116,640 Gross loans held at amortized cost 266,203 1,236 119 272 1,087 2,714 268,917 |
Gross impaired loans by category | Gross impaired loans by category Non-performing and Non- 6M18 (CHF million) Mortgages 260 10 270 42 39 81 351 1 Loans collateralized by securities 85 13 98 0 2 2 100 Consumer finance 175 6 181 0 1 1 182 Consumer 520 29 549 42 42 84 633 Real estate 101 4 105 0 22 22 127 Commercial and industrial loans 535 221 756 165 362 527 1,283 Financial institutions 1 43 44 0 3 3 47 Corporate & institutional 637 268 905 165 387 552 1,457 Gross impaired loans 1,157 297 1,454 207 429 636 2,090 2017 (CHF million) Mortgages 236 17 253 13 66 79 332 1 Loans collateralized by securities 96 16 112 0 2 2 114 Consumer finance 176 9 185 0 1 1 186 Consumer 508 42 550 13 69 82 632 Real estate 73 4 77 0 19 19 96 Commercial and industrial loans 465 121 586 277 458 735 1,321 Financial institutions 1 43 44 0 3 3 47 Governments and public institutions 1 0 1 0 0 0 1 Corporate & institutional 540 168 708 277 480 757 1,465 Gross impaired loans 1,048 210 1,258 290 549 839 2,097 1 As of the end of 6M18 and 2017, CHF 118 million and CHF 90 million, respectively, were related to consumer mortgages secured by residential real estate for which formal foreclosure proceedings according to local requirements of the applicable jurisdiction were in process. |
Gross impaired loan detail | Gross impaired loan detail end of 6M18 2017 Unpaid Associated Unpaid Associated Gross impaired loan detail (CHF million) Mortgages 270 256 29 254 239 36 Loans collateralized by securities 100 83 52 111 97 49 Consumer finance 179 158 91 180 160 94 Consumer 549 497 172 545 496 179 Real estate 123 116 11 86 79 11 Commercial and industrial loans 942 914 424 984 947 426 Financial institutions 47 47 38 47 46 37 Governments and public institutions 0 0 0 1 1 0 Corporate & institutional 1,112 1,077 473 1,118 1,073 474 Gross impaired loans with a specific allowance 1,661 1,574 645 1,663 1,569 653 Mortgages 81 81 – 78 78 – Loans collateralized by securities 0 0 – 3 3 – Consumer finance 3 3 – 6 6 – Consumer 84 84 – 87 87 – Real estate 4 4 – 10 10 – Commercial and industrial loans 341 341 – 337 337 – Corporate & institutional 345 345 – 347 347 – Gross impaired loans without specific allowance 429 429 – 434 434 – Gross impaired loans 2,090 2,003 645 2,097 2,003 653 of which consumer 633 581 172 632 583 179 of which corporate & institutional 1,457 1,422 473 1,465 1,420 474 Gross impaired loan detail (continued) in 6M18 6M17 Interest Interest Gross impaired loan detail (CHF million) Mortgages 260 1 0 217 1 1 Loans collateralized by securities 101 1 1 121 0 0 Consumer finance 177 1 1 170 1 1 Consumer 538 3 2 508 2 2 Real estate 90 0 0 71 0 0 Commercial and industrial loans 915 9 4 1,155 8 3 Financial institutions 46 0 0 92 0 0 Governments and public institutions 1 0 0 8 0 0 Corporate & institutional 1,052 9 4 1,326 8 3 Gross impaired loans with a specific allowance 1,590 12 6 1,834 10 5 Mortgages 97 2 0 81 2 0 Loans collateralized by securities 0 0 0 11 0 0 Consumer finance 3 0 0 4 0 0 Consumer 100 2 0 96 2 0 Real estate 3 1 0 31 0 0 Commercial and industrial loans 300 5 0 278 5 1 Corporate & institutional 303 6 0 309 5 1 Gross impaired loans without specific allowance 403 8 0 405 7 1 Gross impaired loans 1,993 20 6 2,239 17 6 of which consumer 638 5 2 604 4 2 of which corporate & institutional 1,355 15 4 1,635 13 4 |
Restructured loans held at amortized cost | Restructured loans held at amortized cost in 6M18 6M17 Recorded Recorded Recorded Recorded Restructured loans (CHF million, except where indicated) Mortgages 5 29 29 0 0 0 Commercial and industrial loans 3 15 14 9 49 49 Total 8 44 43 9 49 49 |
Goodwill (Tables)
Goodwill (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Goodwill | Investment Gross amount of goodwill (CHF million) Balance at beginning of period 603 1,518 2,245 3,170 1,010 12 8,558 Foreign currency translation impact 12 45 40 14 19 0 130 Balance at end of period 615 1,563 2,285 3,184 1,029 12 8,688 Accumulated impairment (CHF million) Balance at beginning of period 0 0 772 2,719 388 12 3,891 Balance at end of period 0 0 772 2,719 388 12 3,891 Net book value (CHF million) Net book value 615 1,563 1,513 465 641 0 4,797 6M18 Gross amount of goodwill (CHF million) Balance at beginning of period 610 1,544 2,268 3,178 1,021 12 8,633 Foreign currency translation impact 5 19 17 6 8 0 55 Balance at end of period 615 1,563 2,285 3,184 1,029 12 8,688 Accumulated impairment (CHF million) Balance at beginning of period 0 0 772 2,719 388 12 3,891 Balance at end of period 0 0 772 2,719 388 12 3,891 Net book value (CHF million) Net book value 615 1,563 1,513 465 641 0 4,797 |
Bank | |
Goodwill | Investment Gross amount of goodwill (CHF million) Balance at beginning of period 592 1,531 2,044 2,837 911 12 7,927 Foreign currency translation impact 5 19 16 2 7 0 49 Balance at end of period 597 1,550 2,060 2,839 918 12 7,976 Accumulated impairment (CHF million) Balance at beginning of period 0 0 772 2,719 388 12 3,891 Balance at end of period 0 0 772 2,719 388 12 3,891 Net book value (CHF million) Net book value 597 1,550 1,288 120 530 0 4,085 |
Other assets and other liabil58
Other assets and other liabilities (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Other assets and other liabilities | end of 2Q18 1Q18 4Q17 Other assets (CHF million) Cash collateral on derivative instruments 7,488 6,330 5,141 Cash collateral on non-derivative transactions 909 510 490 Derivative instruments used for hedging 37 33 50 Assets held-for-sale 8,039 8,790 8,300 of which loans 1 7,980 8,724 8,130 of which real estate 2 58 66 141 of which long-lived assets 1 0 29 Assets held for separate accounts 182 186 190 Interest and fees receivable 5,160 4,746 4,669 Deferred tax assets 5,191 5,228 5,522 Prepaid expenses 606 478 379 Failed purchases 1,475 1,375 1,327 Defined benefit pension and post-retirement plan assets 2,504 2,389 2,170 Other 3,718 3,713 3,833 Other assets 35,309 33,778 32,071 Other liabilities (CHF million) Cash collateral on derivative instruments 8,761 8,749 8,644 Cash collateral on non-derivative transactions 552 516 473 Derivative instruments used for hedging 2 16 99 Provisions 1,013 983 1,007 of which off-balance sheet risk 132 116 106 Restructuring liabilities 329 312 306 Liabilities held for separate accounts 182 186 190 Interest and fees payable 5,744 5,308 5,591 Current tax liabilities 666 720 700 Deferred tax liabilities 567 461 394 Failed sales 624 653 720 Defined benefit pension and post-retirement plan liabilities 546 543 541 Other 11,528 11,231 12,947 Other liabilities 30,514 29,678 31,612 1 Included as of the end of 2Q18, 1Q18 and 4Q17 were CHF 623 million, CHF 446 million and CHF 534 million, respectively, in restricted loans, which represented collateral on secured borrowings. 2 As of the end of 2Q18, 1Q18 and 4Q17, real estate held-for-sale included foreclosed or repossessed real estate of CHF 7 million, CHF 21 million and CHF 8 million, respectively, of which CHF 4 million, CHF 18 million and CHF 5 million, respectively were related to residental real estate. |
Bank | |
Other assets and other liabilities | end of 6M18 2017 Other assets (CHF million) Cash collateral on derivative instruments 7,488 5,142 Cash collateral on non-derivative transactions 909 490 Derivative instruments used for hedging 37 50 Assets held-for-sale 8,039 8,300 of which loans 1 7,980 8,130 of which real estate 2 58 141 of which long-lived assets 1 29 Assets held for separate accounts 182 190 Interest and fees receivable 5,446 4,819 Deferred tax assets 3 5,114 5,457 Prepaid expenses 555 330 Failed purchases 1,475 1,327 Defined benefit pension and post-retirement plan assets 1,062 1,058 Other 3 3,720 3,793 Other assets 34,027 30,956 Other liabilities (CHF million) Cash collateral on derivative instruments 8,761 8,644 Cash collateral on non-derivative transactions 552 473 Derivative instruments used for hedging 2 99 Provisions 997 998 of which off-balance sheet risk 132 106 Restructuring liabilities 324 301 Liabilities held for separate accounts 182 190 Interest and fees payable 5,903 5,804 Current tax liabilities 652 687 Deferred tax liabilities 255 152 Failed sales 624 720 Defined benefit pension and post-retirement plan liabilities 546 541 Other 11,640 13,074 Other liabilities 30,438 31,683 1 Included as of the end of 6M18 and 2017 were CHF 623 million and CHF 534 million, respectively, in restricted loans, which represented collateral on secured borrowings. 2 As of the end of 6M18 and 2017, real estate held-for-sale included foreclosed or repossessed real estate of CHF 7 million and CHF 8 million, respectively, of which CHF 4 million and CHF 5 million, respectively, were related to residential real estate. 3 Includes a reclassification from other assets to deferred tax assets in 1Q17 as a result of the early adoption of ASU 2016-16. Refer to “Note 2 – Recently issued accounting standards” for further information. |
Long-term debt (Tables)
Long-term debt (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Long-term debt | Long-term debt end of 2Q18 1Q18 4Q17 Long-term debt (CHF million) Senior 143,119 143,757 148,542 Subordinated 21,770 21,415 23,627 Non-recourse liabilities from consolidated VIEs 1,072 994 863 Long-term debt 165,961 166,166 173,032 of which reported at fair value 62,205 61,536 63,628 of which structured notes 49,734 49,032 51,465 |
Schedule of Structured notes | Structured notes by product end of 2Q18 1Q18 4Q17 Structured notes (CHF million) Equity 33,363 30,760 32,059 Fixed income 12,841 13,827 14,471 Credit 3,170 4,188 4,678 Other 360 257 257 Total structured notes 49,734 49,032 51,465 |
Bank | |
Long-term debt | Long-term debt end of 6M18 2017 Long-term debt (CHF million) Senior 143,206 148,568 Subordinated 20,832 22,611 Non-recourse liabilities from consolidated VIEs 1,072 863 Long-term debt 165,110 172,042 of which reported at fair value 61,272 62,622 of which structured notes 49,734 51,465 |
Schedule of Structured notes | Structured notes by product end of 6M18 2017 Structured notes (CHF million) Equity 33,363 32,059 Fixed income 12,841 14,471 Credit 3,170 4,678 Other 360 257 Total structured notes 49,734 51,465 |
Accumulated other comprehensi60
Accumulated other comprehensive income (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Accumulated other comprehensive income | Accumulated other comprehensive income/(loss) Gains/ Accumu- 2Q18 (CHF million) Balance at beginning of period (95) (13,612) 21 (3,503) 491 (2,153) (18,851) Increase/(decrease) (66) 562 (1) 1 0 733 1,229 Increase/(decrease) due to equity method investments (4) 0 0 0 0 0 (4) Reclassification adjustments, included in net income/(loss) 60 (2) (7) 72 (29) 28 122 Total increase/(decrease) (10) 560 (8) 73 (29) 761 1,347 Balance at end of period (105) (13,052) 13 (3,430) 462 (1,392) (17,504) 1Q18 (CHF million) Balance at beginning of period (62) (13,119) 48 (3,583) 522 (2,544) (18,738) Increase/(decrease) (47) (493) (6) 10 0 384 (152) Increase/(decrease) due to equity method investments 1 0 0 0 0 0 1 Reclassification adjustments, included in net income/(loss) 13 0 0 70 (31) 7 59 Cumulative effect of accounting changes, net of tax 0 0 (21) 0 0 0 (21) Total increase/(decrease) (33) (493) (27) 80 (31) 391 (113) Balance at end of period (95) (13,612) 21 (3,503) 491 (2,153) (18,851) 2Q17 (CHF million) Balance at beginning of period (39) (12,591) 59 (4,175) 604 (1,081) (17,223) Increase/(decrease) (8) (1,096) (5) 2 0 (628) (1,735) Increase/(decrease) due to equity method investments 0 1 0 0 0 0 1 Reclassification adjustments, included in net income/(loss) 18 0 0 80 (28) (2) 68 Total increase/(decrease) 10 (1,095) (5) 82 (28) (630) (1,666) Balance at end of period (29) (13,686) 54 (4,093) 576 (1,711) (18,889) 6M18 (CHF million) Balance at beginning of period (62) (13,119) 48 (3,583) 522 (2,544) (18,738) Increase/(decrease) (113) 69 (7) 11 0 1,117 1,077 Increase/(decrease) due to equity method investments (3) 0 0 0 0 0 (3) Reclassification adjustments, included in net income/(loss) 73 (2) (7) 142 (60) 35 181 Cumulative effect of accounting changes, net of tax 0 0 (21) 0 0 0 (21) Total increase/(decrease) (43) 67 (35) 153 (60) 1,152 1,234 Balance at end of period (105) (13,052) 13 (3,430) 462 (1,392) (17,504) 6M17 (CHF million) Balance at beginning of period (35) (12,095) 61 (4,278) 643 (568) (16,272) Increase/(decrease) (16) (1,615) (7) 25 0 (1,141) (2,754) Increase/(decrease) due to equity method investments 0 1 0 0 0 0 1 Reclassification adjustments, included in net income/(loss) 22 23 0 160 (67) (2) 136 Total increase/(decrease) 6 (1,591) (7) 185 (67) (1,143) (2,617) Balance at end of period (29) (13,686) 54 (4,093) 576 (1,711) (18,889) |
Details on significant reclassification adjustments | Details on significant reclassification adjustments in 2Q18 1Q18 2Q17 6M18 6M17 Reclassification adjustments, included in net income/(loss) (CHF million) Cumulative translation adjustments Reclassification adjustments (2) 0 0 (2) 23 1 Actuarial gains/(losses) Amortization of recognized actuarial losses 2 90 88 100 178 200 Tax expense/(benefit) (18) (18) (20) (36) (40) Net of tax 72 70 80 142 160 Net prior service credit/(cost) Amortization of recognized prior service credit/(cost) 2 (37) (39) (36) (76) (86) Tax expense 8 8 8 16 19 Net of tax (29) (31) (28) (60) (67) 1 Includes net releases of CHF 23 million on the sale of Credit Suisse (Monaca) S.A.M. in 1Q17. These were reclassified from cumulative translation adjustments and included in net income in other revenues. 2 These components are included in the computation of total benefit costs. Refer to "Note 26 – Pension and other post-retirement benefits" for further information. |
Additional share information | Additional share information 2Q18 1Q18 2Q17 6M18 6M17 Common shares issued Balance at beginning of period 2,556,011,720 2,556,011,720 2,089,897,378 2,556,011,720 2,089,897,378 Issuance of common shares 0 0 466,114,342 0 466,114,342 Balance at end of period 2,556,011,720 2,556,011,720 2,556,011,720 2,556,011,720 2,556,011,720 Treasury shares Balance at beginning of period (16,413,030) (5,757,666) (6,308,347) (5,757,666) 0 Sale of treasury shares 173,383,973 197,832,217 240,261,524 371,216,190 405,721,747 Repurchase of treasury shares (205,279,026) (210,060,139) (273,705,085) (415,339,165) (446,572,454) Share-based compensation 42,340,132 1,572,558 37,009,421 43,912,690 38,108,220 Balance at end of period (5,967,951) (16,413,030) (2,742,487) (5,967,951) (2,742,487) Common shares outstanding Balance at end of period 2,550,043,769 1 2,539,598,690 1 2,553,269,233 1 2,550,043,769 1 2,553,269,233 1 1 At par value CHF 0.04 each, fully paid. In addition to the treasury shares, a maximum of 653,000,000 unissued shares (conditional, conversion and authorized capital) were available for issuance without further approval of the shareholders. 505,062,294 of these shares were reserved for capital instruments. |
Bank | |
Accumulated other comprehensive income | Accumulated other comprehensive income/(loss) Gains/ Accumu- 6M18 (CHF million) Balance at beginning of period (51) (13,248) 48 (381) 2 (2,302) (15,932) Increase/(decrease) (113) 57 (6) (7) 0 956 887 Reclassification adjustments, included in net income/(loss) 70 (2) (7) 22 0 35 118 Cumulative effect of accounting changes, net of tax 0 0 (22) 0 0 0 (22) Total increase/(decrease) (43) 55 (35) 15 0 991 983 Balance at end of period (94) (13,193) 13 (366) 2 (1,311) (14,949) 6M17 (CHF million) Balance at beginning of period (16) (12,269) 61 (402) 2 (618) (13,242) Increase/(decrease) (16) (1,549) (7) 0 0 (923) (2,495) Decrease due to equity method investments 0 1 0 0 0 0 1 Reclassification adjustments, included in net income/(loss) 18 23 0 25 0 (2) 64 Total increase/(decrease) 2 (1,525) (7) 25 0 (925) (2,430) Balance at end of period (14) (13,794) 54 (377) 2 (1,543) (15,672) |
Details on significant reclassification adjustments | Details on significant reclassification adjustments in 6M18 6M17 Reclassification adjustments, included in net income/(loss) (CHF million) Cumulative translation adjustments Reclassification adjustments (2) 23 1 Actuarial gains/(losses) Amortization of recognized actuarial losses 2 26 31 Tax expense/(benefit) (4) (6) Net of tax 22 25 1 Includes net releases of CHF 23 million on the sale of Credit Suisse (Monaco) S.A.M. in 6M17. These were reclassified from cumulative translation adjustments and included in net income in other revenues. 2 These components are included in the computation of total benefit costs. Refer to "Note 25 – Pension and other post-retirement benefits" for further information. |
Offsetting of financial asset61
Offsetting of financial assets and financial liabilities (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Offsetting of derivatives | Offsetting of derivatives end of 2Q18 4Q17 Derivative Derivative Derivative Derivative Gross derivatives subject to enforceable master netting agreements (CHF billion) OTC-cleared 3.7 3.4 2.5 1.8 OTC 71.7 66.9 83.3 79.0 Exchange-traded 0.3 0.4 0.1 0.2 Interest rate products 75.7 70.7 85.9 81.0 OTC-cleared 0.5 0.4 0.2 0.2 OTC 35.1 39.7 29.1 34.6 Exchange-traded 0.0 0.1 0.0 0.0 Foreign exchange products 35.6 40.2 29.3 34.8 OTC 11.2 10.6 11.7 11.7 Exchange-traded 9.9 11.8 9.2 9.8 Equity/index-related products 21.1 22.4 20.9 21.5 OTC-cleared 2.9 3.2 3.6 3.8 OTC 3.6 4.6 3.9 4.7 Credit derivatives 6.5 7.8 7.5 8.5 OTC 0.7 0.6 1.4 0.9 Other products 1 0.7 0.6 1.4 0.9 OTC-cleared 7.1 7.0 6.3 5.8 OTC 122.3 122.4 129.4 130.9 Exchange-traded 10.2 12.3 9.3 10.0 Total gross derivatives subject to enforceable master netting agreements 139.6 141.7 145.0 146.7 Offsetting (CHF billion) OTC-cleared (6.7) (6.8) (5.7) (5.4) OTC (108.0) (113.5) (114.5) (122.1) Exchange-traded (9.5) (10.8) (8.6) (9.6) Offsetting (124.2) (131.1) (128.8) (137.1) of which counterparty netting (109.8) (109.8) (113.8) (113.8) of which cash collateral netting (14.4) (21.3) (15.0) (23.3) Net derivatives presented in the consolidated balance sheets (CHF billion) OTC-cleared 0.4 0.2 0.6 0.4 OTC 14.3 8.9 14.9 8.8 Exchange-traded 0.7 1.5 0.7 0.4 Total net derivatives subject to enforceable master netting agreements 15.4 10.6 16.2 9.6 Total derivatives not subject to enforceable master netting agreements 2 4.2 4.6 3.4 5.2 Total net derivatives presented in the consolidated balance sheets 19.6 15.2 19.6 14.8 of which recorded in trading assets and trading liabilities 19.6 15.2 19.6 14.7 of which recorded in other assets and other liabilities 0.0 0.0 0.0 0.1 1 Primarily precious metals, commodity and energy products. 2 Represents derivatives where a legal opinion supporting the enforceability of netting in the event of default or termination under the agreement is not in place. |
Offsetting of securities purchased under resale agreements and securities borrowing transactions | Offsetting of securities purchased under resale agreements and securities borrowing transactions end of 2Q18 4Q17 Net Net Securities purchased under resale agreements and securities borrowing transactions (CHF billion) Securities purchased under resale agreements 84.6 (21.9) 62.7 89.4 (28.8) 60.6 Securities borrowing transactions 21.6 (5.1) 16.5 18.7 (5.0) 13.7 Total subject to enforceable master netting agreements 106.2 (27.0) 79.2 108.1 (33.8) 74.3 Total not subject to enforceable master netting agreements 1 38.4 – 38.4 41.0 – 41.0 Total 144.6 (27.0) 117.6 2 149.1 (33.8) 115.3 2 1 Represents securities purchased under resale agreements and securities borrowing transactions where a legal opinion supporting the enforceability of netting in the event of default or termination under the agreement is not in place. 2 CHF 75,706 million and CHF 77,498 million of the total net amount as of the end of 2Q18 and 4Q17, respectively, are reported at fair value. |
Offsetting of securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral | Offsetting of securities sold under repurchase agreements and securities lending transactions end of 2Q18 4Q17 Net Net Securities sold under repurchase agreements and securities lending transactions (CHF billion) Securities sold under repurchase agreements 38.9 (24.7) 14.2 49.4 (31.5) 17.9 Securities lending transactions 6.2 (2.3) 3.9 7.1 (2.3) 4.8 Obligation to return securities received as collateral, at fair value 43.6 0.0 43.6 37.0 0.0 37.0 Total subject to enforceable master netting agreements 88.7 (27.0) 61.7 93.5 (33.8) 59.7 Total not subject to enforceable master netting agreements 1 3.7 – 3.7 4.9 – 4.9 Total 92.4 (27.0) 65.4 98.4 (33.8) 64.6 of which securities sold under repurchase agreements and securities lending transactions 46.9 (27.0) 19.9 2 60.3 (33.8) 26.5 2 of which obligation to return securities received as collateral, at fair value 45.5 0.0 45.5 38.1 0.0 38.1 1 Represents securities sold under repurchase agreements and securities lending transactions where a legal opinion supporting the enforceability of netting in the event of default or termination under the agreement is not in place. 2 CHF 9,457 million and CHF 15,262 million of the total net amount as of the end of 2Q18 and 4Q17, respectively, are reported at fair value. |
Amounts not offset in the consolidated balance sheets | Amounts not offset in the consolidated balance sheets end of 2Q18 4Q17 1 Cash 1 1 Cash 1 Financial assets subject to enforceable master netting agreements (CHF billion) Derivatives 15.4 4.9 0.0 10.5 16.2 5.2 0.0 11.0 Securities purchased under resale agreements 62.7 62.7 0.0 0.0 60.6 60.6 0.0 0.0 Securities borrowing transactions 16.5 16.0 0.0 0.5 13.7 13.2 0.0 0.5 Total financial assets subject to enforceable master netting agreements 94.6 83.6 0.0 11.0 90.5 79.0 0.0 11.5 Financial liabilities subject to enforceable master netting agreements (CHF billion) Derivatives 10.6 1.7 0.0 8.9 9.6 2.1 0.0 7.5 Securities sold under repurchase agreements 14.2 14.2 0.0 0.0 17.9 17.9 0.0 0.0 Securities lending transactions 3.9 3.4 0.0 0.5 4.8 4.4 0.0 0.4 Obligation to return securities received as collateral, at fair value 43.6 39.2 0.0 4.4 37.0 32.7 0.0 4.3 Total financial liabilities subject to enforceable master netting agreements 72.3 58.5 0.0 13.8 69.3 57.1 0.0 12.2 1 The total amount reported in financial instruments (recognized financial assets and financial liabilities and non-cash financial collateral) and cash collateral is limited to the amount of the related instruments presented in the consolidated balance sheets and therefore any over-collateralization of these positions is not included. |
Bank | |
Offsetting of derivatives | Offsetting of derivatives end of 6M18 2017 Derivative Derivative Derivative Derivative Gross derivatives subject to enforceable master netting agreements (CHF billion) OTC-cleared 3.7 3.4 2.5 1.8 OTC 71.7 66.9 83.3 79.0 Exchange-traded 0.3 0.4 0.1 0.2 Interest rate products 75.7 70.7 85.9 81.0 OTC-cleared 0.5 0.4 0.2 0.2 OTC 35.1 39.7 29.1 34.6 Exchange-traded 0.0 0.1 0.0 0.0 Foreign exchange products 35.6 40.2 29.3 34.8 OTC 11.2 10.7 11.7 12.0 Exchange-traded 9.9 11.8 9.2 9.8 Equity/index-related products 21.1 22.5 20.9 21.8 OTC-cleared 2.9 3.2 3.6 3.8 OTC 3.6 4.6 3.9 4.7 Credit derivatives 6.5 7.8 7.5 8.5 OTC 0.7 0.6 1.4 0.9 Other products 1 0.7 0.6 1.4 0.9 OTC-cleared 7.1 7.0 6.3 5.8 OTC 122.3 122.5 129.4 131.2 Exchange-traded 10.2 12.3 9.3 10.0 Total gross derivatives subject to enforceable master netting agreements 139.6 141.8 145.0 147.0 Offsetting (CHF billion) OTC-cleared (6.7) (6.8) (5.7) (5.4) OTC (108.0) (113.6) (114.5) (122.4) Exchange-traded (9.5) (10.8) (8.6) (9.6) Offsetting (124.2) (131.2) (128.8) (137.4) of which counterparty netting (109.8) (109.8) (113.8) (113.8) of which cash collateral netting (14.4) (21.4) (15.0) (23.6) Net derivatives presented in the consolidated balance sheets (CHF billion) OTC-cleared 0.4 0.2 0.6 0.4 OTC 14.3 8.9 14.9 8.8 Exchange-traded 0.7 1.5 0.7 0.4 Total net derivatives subject to enforceable master netting agreements 15.4 10.6 16.2 9.6 Total derivatives not subject to enforceable master netting agreements 2 4.3 4.6 3.7 5.2 Total net derivatives presented in the consolidated balance sheets 19.7 15.2 19.9 14.8 of which recorded in trading assets and trading liabilities 19.7 15.2 19.9 14.7 of which recorded in other assets and other liabilities 0.0 0.0 0.0 0.1 1 Primarily precious metals, commodity and energy products. 2 Represents derivatives where a legal opinion supporting the enforceability of netting in the event of default or termination under the agreement is not in place. |
Offsetting of securities purchased under resale agreements and securities borrowing transactions | Offsetting of securities purchased under resale agreements and securities borrowing transactions end of 6M18 2017 Net Net Securities purchased under resale agreements and securities borrowing transactions (CHF billion) Securities purchased under resale agreements 84.6 (21.9) 62.7 89.4 (28.8) 60.6 Securities borrowing transactions 21.6 (5.1) 16.5 18.7 (5.0) 13.7 Total subject to enforceable master netting agreements 106.2 (27.0) 79.2 108.1 (33.8) 74.3 Total not subject to enforceable master netting agreements 1 38.4 – 38.4 41.0 – 41.0 Total 144.6 (27.0) 117.6 2 149.1 (33.8) 115.3 2 1 Represents securities purchased under resale agreements and securities borrowing transactions where a legal opinion supporting the enforceability of netting in the event of default or termination under the agreement is not in place. 2 CHF 75,706 million and CHF 77,498 million of the total net amount as of 6M18 and 2017, respectively, are reported at fair value. |
Offsetting of securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral | Offsetting of securities sold under repurchase agreements and securities lending transactions end of 6M18 2017 Net Net Securities sold under repurchase agreements and securities lending transactions (CHF billion) Securities sold under repurchase agreements 38.9 (24.7) 14.2 49.4 (31.5) 17.9 Securities lending transactions 6.2 (2.3) 3.9 7.1 (2.3) 4.8 Obligation to return securities received as collateral, at fair value 43.6 0.0 43.6 37.0 0.0 37.0 Total subject to enforceable master netting agreements 88.7 (27.0) 61.7 93.5 (33.8) 59.7 Total not subject to enforceable master netting agreements 1 3.7 – 3.7 4.9 – 4.9 Total 92.4 (27.0) 65.4 98.4 (33.8) 64.6 of which securities sold under repurchase agreements and securities lending transactions 46.9 (27.0) 19.9 2 60.3 (33.8) 26.5 2 of which obligation to return securities received as collateral, at fair value 45.5 0.0 45.5 38.1 0.0 38.1 1 Represents securities sold under repurchase agreements and securities lending transactions where a legal opinion supporting the enforceability of netting in the event of default or termination under the agreement is not in place. 2 CHF 9,457 million and CHF 15,262 million of the total net amount as of 6M18 and 2017, respectively, are reported at fair value. |
Amounts not offset in the consolidated balance sheets | Amounts not offset in the consolidated balance sheets end of 6M18 2017 1 Cash 1 1 Cash 1 Financial assets subject to enforceable master netting agreements (CHF billion) Derivatives 15.4 4.9 0.0 10.5 16.2 5.2 0.0 11.0 Securities purchased under resale agreements 62.7 62.7 0.0 0.0 60.6 60.6 0.0 0.0 Securities borrowing transactions 16.5 16.0 0.0 0.5 13.7 13.2 0.0 0.5 Total financial assets subject to enforceable master netting agreements 94.6 83.6 0.0 11.0 90.5 79.0 0.0 11.5 Financial liabilities subject to enforceable master netting agreements (CHF billion) Derivatives 10.6 1.7 0.0 8.9 9.6 2.1 0.0 7.5 Securities sold under repurchase agreements 14.2 14.2 0.0 0.0 17.9 17.9 0.0 0.0 Securities lending transactions 3.9 3.4 0.0 0.5 4.8 4.4 0.0 0.4 Obligation to return securities received as collateral, at fair value 43.6 39.2 0.0 4.4 37.0 32.7 0.0 4.3 Total financial liabilities subject to enforceable master netting agreements 72.3 58.5 0.0 13.8 69.3 57.1 0.0 12.2 1 The total amount reported in financial instruments (recognized financial assets and financial liabilities and non-cash financial collateral) and cash collateral is limited to the amount of the related instruments presented in the consolidated balance sheets and therefore any over-collateralization of these positions is not included. |
Tax (Tables)
Tax (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Reconciliation of taxes computed at the Swiss statutory rate | Tax expense reconciliation in 2Q18 CHF million Income tax expense computed at the Swiss statutory tax rate of 22% 231 Increase/(decrease) in income taxes resulting from Foreign tax rate differential (1) Other non-deductible expenses 120 Changes in deferred tax valuation allowance 13 Lower taxed income (34) (Windfall tax benefits)/shortfall tax charges on share-based compensation (5) Other 74 Income tax expense 398 |
Effective tax rate | Effective tax rate in 2Q18 1Q18 2Q17 6M18 6M17 Effective tax rate (%) 37.8 34.3 47.4 36.1 28.3 |
Net deferred tax assets | Net deferred tax assets end of 2Q18 1Q18 Net deferred tax assets (CHF million) Deferred tax assets 5,191 5,228 of which net operating losses 1,798 2,046 of which deductible temporary differences 3,393 3,182 Deferred tax liabilities (567) (461) Net deferred tax assets 4,624 4,767 |
Bank | |
Reconciliation of taxes computed at the Swiss statutory rate | Effective tax rate in 6M18 6M17 Effective tax rate (%) 33.3 33.5 Tax expense reconciliation in 6M18 CHF million Income tax expense computed at the statutory tax rate of 22% 415 Increase/(decrease) in income taxes resulting from Foreign tax rate differential 4 Other non-deductible expenses 171 Changes in deferred tax valuation allowance 25 Lower taxed income (60) (Windfall tax benefits)/shortfall tax charges on share-based compensation (5) Other 79 Income tax expense 629 |
Net deferred tax assets | Net deferred tax assets end of 6M18 2017 Net deferred tax assets (CHF million) Deferred tax assets 5,114 5,457 of which net operating losses 1,782 2,200 of which deductible temporary differences 3,332 3,257 Deferred tax liabilities (255) (152) Net deferred tax assets 4,859 5,305 |
Employee deferred compensation
Employee deferred compensation (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Share-based compensation disclosures | |
Deferred compensation expense | Deferred compensation expense in 2Q18 1Q18 2Q17 6M18 6M17 Deferred compensation expense (CHF million) Share awards 130 148 130 278 276 Performance share awards 92 109 87 201 185 Contingent Capital Awards 42 52 65 94 150 Contingent Capital share awards 0 1 6 1 11 Capital Opportunity Facility awards 3 3 3 6 7 2008 Partner Asset Facility awards 1 0 0 0 0 7 Other cash awards 71 54 87 125 182 Total deferred compensation expense 338 367 378 705 818 1 Compensation expense mainly includes the change in underlying fair value of the indexed assets during the period. |
Additional information | Estimated unrecognized deferred compensation end of 2Q18 Estimated unrecognized compensation expense (CHF million) Share awards 736 Performance share awards 363 Contingent Capital Awards 244 Contingent Capital share awards 1 Other cash awards 284 Total 1,628 Weighted-average requisite service period (years) Aggregate remaining weighted-average requisite service period 1.3 |
Share-based award activities | Share-based award activity 2Q18 6M18 Performance Contingent Performance Contingent Share-based award activities Balance at beginning of period 119.0 80.1 8.4 84.9 54.2 8.4 Granted 0.9 0.0 0.0 38.5 26.5 0.0 Settled (33.8) (25.9) (4.8) (36.6) (25.9) (4.8) Forfeited (0.6) (0.2) 0.0 (1.3) (0.8) 0.0 Balance at end of period 85.5 54.0 3.6 85.5 54.0 3.6 of which vested 8.7 3.8 0.6 8.7 3.8 0.6 of which unvested 76.8 50.2 3.0 76.8 50.2 3.0 |
Bank | |
Share-based compensation disclosures | |
Deferred compensation expense | Deferred compensation expense in 6M18 6M17 Deferred compensation expense (CHF million) Share awards 270 274 Performance share awards 195 183 Contingent Capital Awards 92 150 Contingent Capital share awards 1 11 Capital Opportunity Facility awards 6 7 2008 Partner Asset Facility awards 1 0 7 Other cash awards 119 172 Total deferred compensation expense 683 804 1 Compensation expense mainly includes the change in underlying fair value of the indexed assets during the period. |
Additional information | Estimated unrecognized deferred compensation end of 6M18 Estimated unrecognized compensation expense (CHF million) Share awards 716 Performance share awards 350 Contingent Capital Awards 241 Contingent Capital share awards 1 Other cash awards 271 Total 1,579 Weighted-average requisite service period (years) Aggregate remaining weighted-average requisite service period 1.3 |
Share-based award activities | Share-based award activity 6M18 Performance Contingent Share-based award activities Balance at beginning of period 79.9 52.8 7.5 Granted 37.1 25.6 0.0 Settled (35.3) (25.4) (4.7) Forfeited (1.1) (0.8) 0.0 Balance at end of period 80.6 52.2 2.8 of which vested 8.3 3.7 0.6 of which unvested 72.3 48.5 2.2 |
Pension and other post-retire64
Pension and other post-retirement benefits (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Components of total pension costs | Components of net periodic benefit costs in 2Q18 1Q18 2Q17 6M18 6M17 Net periodic benefit costs/(credits) (CHF million) Service costs on benefit obligation 65 65 67 130 133 Interest costs on benefit obligation 39 39 36 78 73 Expected return on plan assets (150) (149) (151) (299) (303) Amortization of recognized prior service cost/(credit) (31) (32) (33) (63) (65) Amortization of recognized actuarial losses 90 89 100 179 201 Settlement losses/(gains) 0 (1) 0 (1) (1) Curtailment losses/(gains) (6) (7) (8) (13) (26) Special termination benefits 10 7 4 17 4 Net periodic benefit costs 17 11 15 28 16 Service costs on benefit obligation are reflected in compensation and benefits and restructuring expenses. Other components of net periodic benefit costs are reflected in general and administrative expenses and restructuring expenses. |
Bank | |
Components of total pension costs | Components of net periodic benefit costs in 6M18 6M17 Net periodic benefit costs/(credits) (CHF million) Service costs on benefit obligation 8 11 Interest costs on benefit obligation 47 48 Expected return on plan assets (58) (66) Amortization of recognized actuarial losses 26 31 Curtailment losses/(gains) 0 (5) Net periodic benefit costs 23 19 Service costs on benefit obligation are reflected in compensation and benefits and restructuring expenses. Other components of net periodic benefit costs are reflected in general and administrative expenses and restructuring expenses. |
Derivatives and hedging activ65
Derivatives and hedging activities (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Fair value of derivative instruments | Fair value of derivative instruments Trading Hedging 1 Positive Negative Positive Negative Derivative instruments (CHF billion) Forwards and forward rate agreements 10,168.2 2.4 2.5 0.0 0.0 0.0 Swaps 14,920.1 53.0 49.0 49.5 0.1 0.2 Options bought and sold (OTC) 2,584.0 20.6 19.7 0.0 0.0 0.0 Futures 788.1 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 1,236.7 0.3 0.4 0.0 0.0 0.0 Interest rate products 29,697.1 76.3 71.6 49.5 0.1 0.2 Forwards 1,289.5 13.4 14.0 12.6 0.1 0.0 Swaps 526.9 17.8 21.2 0.0 0.0 0.0 Options bought and sold (OTC) 439.8 5.8 6.0 0.7 0.0 0.0 Futures 10.3 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 4.2 0.0 0.1 0.0 0.0 0.0 Foreign exchange products 2,270.7 37.0 41.3 13.3 0.1 0.0 Forwards 2.3 0.1 0.1 0.0 0.0 0.0 Swaps 187.7 4.1 4.6 0.0 0.0 0.0 Options bought and sold (OTC) 224.0 8.0 7.3 0.0 0.0 0.0 Futures 37.9 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 410.7 10.0 12.0 0.0 0.0 0.0 Equity/index-related products 862.6 22.2 24.0 0.0 0.0 0.0 Credit derivatives 2 462.6 6.7 8.1 0.0 0.0 0.0 Forwards 6.0 0.0 0.0 0.0 0.0 0.0 Swaps 18.7 1.3 1.0 0.0 0.0 0.0 Options bought and sold (OTC) 8.2 0.1 0.1 0.0 0.0 0.0 Futures 12.5 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 1.3 0.0 0.0 0.0 0.0 0.0 Other products 3 46.7 1.4 1.1 0.0 0.0 0.0 Total derivative instruments 33,339.7 143.6 146.1 62.8 0.2 0.2 The notional amount, PRV and NRV (trading and hedging) was CHF 33,402.5 billion, CHF 143.8 billion and CHF 146.3 billion, respectively, as of June 30, 2018. 1 Relates to derivative contracts that qualify for hedge accounting under US GAAP. 2 Primarily credit default swaps. 3 Primarily precious metals, commodity and energy products. Fair value of derivative instruments (continued) Trading Hedging 1 Positive Negative Positive Negative Derivative instruments (CHF billion) Forwards and forward rate agreements 8,509.3 1.2 1.2 0.0 0.0 0.0 Swaps 13,047.8 60.4 56.6 46.8 0.2 0.2 Options bought and sold (OTC) 2,374.5 25.2 24.0 0.0 0.0 0.0 Futures 547.8 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 419.2 0.2 0.3 0.0 0.0 0.0 Interest rate products 24,898.6 87.0 82.1 46.8 0.2 0.2 Forwards 1,387.9 10.7 11.1 13.3 0.0 0.2 Swaps 581.1 15.2 19.9 0.0 0.0 0.0 Options bought and sold (OTC) 414.8 4.6 4.8 2.1 0.0 0.0 Futures 13.0 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 5.4 0.0 0.0 0.0 0.0 0.0 Foreign exchange products 2,402.2 30.5 35.8 15.4 0.0 0.2 Forwards 0.9 0.0 0.1 0.0 0.0 0.0 Swaps 198.7 3.8 4.9 0.0 0.0 0.0 Options bought and sold (OTC) 221.3 8.3 7.9 0.0 0.0 0.0 Futures 32.8 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 373.2 9.3 10.3 0.0 0.0 0.0 Equity/index-related products 826.9 21.4 23.2 0.0 0.0 0.0 Credit derivatives 2 524.9 7.7 8.9 0.0 0.0 0.0 Forwards 7.0 0.0 0.1 0.0 0.0 0.0 Swaps 17.9 1.5 1.4 0.0 0.0 0.0 Options bought and sold (OTC) 10.1 0.1 0.0 0.0 0.0 0.0 Futures 15.6 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 2.1 0.0 0.0 0.0 0.0 0.0 Other products 3 52.7 1.6 1.5 0.0 0.0 0.0 Total derivative instruments 28,705.3 148.2 151.5 62.2 0.2 0.4 The notional amount, PRV and NRV (trading and hedging) was CHF 28,767.5 billion, CHF 148.4 billion and CHF 151.9 billion, respectively, as of December 31, 2017. 1 Relates to derivative contracts that qualify for hedge accounting under US GAAP. 2 Primarily credit default swaps. 3 Primarily precious metals, commodity and energy products. |
Fair value hedges | Fair value hedges in 2Q18 1Q18 2Q17 6M18 6M17 Gains/(losses) recognized in income on derivatives (CHF million) Interest rate products (106) (649) 282 (755) 31 Total (106) (649) 282 (755) 31 Gains/(losses) recognized in income on hedged items (CHF million) Interest rate products 100 690 (301) 790 (44) Total 100 690 (301) 790 (44) Details of fair value hedges (CHF million) Net gains/(losses) on the ineffective portion (6) 41 (19) 35 (13) Represents gains/(losses) recognized in trading revenues. |
Cash flow hedges | Cash flow hedges in 2Q18 1Q18 2Q17 6M18 6M17 Gains/(losses) recognized in AOCI on derivatives (CHF million) Interest rate products (31) (61) 8 (92) 1 Foreign exchange products (79) 3 (26) (76) (30) Total (110) (58) (18) (168) (29) Gains/(losses) reclassified from AOCI into income (CHF million) Interest rate products 1 (24) (16) (2) (40) (2) Foreign exchange products 2,3 (42) 0 (16) (42) (20) Total (66) (16) (18) (82) (22) Details of cash flow hedges (CHF million) Net gains/(losses) on the ineffective portion 2 (1) (1) (2) (2) 1 Represents gains/(losses) on effective portion. 1 Included in interest and dividend income. 2 Included in trading revenues. 3 Included in other revenues. |
Net investment hedges | Net investment hedges in 2Q18 1Q18 2Q17 6M18 6M17 Gains/(losses) recognized in AOCI on derivatives (CHF million) Foreign exchange products 141 17 133 158 (54) Total 141 17 133 158 (54) Represents gains/(losses) on effective portion. |
Credit protection sold/purchased | Credit protection sold/purchased end of 2Q18 4Q17 1 Net credit Fair value 1 Net credit Fair value Single-name instruments (CHF billion) Investment grade 2 (49.5) 46.3 (3.2) 14.7 0.5 (57.6) 53.8 (3.8) 15.3 0.9 Non-investment grade (26.0) 23.0 (3.0) 16.4 0.1 (28.2) 25.5 (2.7) 14.3 0.5 Total single-name instruments (75.5) 69.3 (6.2) 31.1 0.6 (85.8) 79.3 (6.5) 29.6 1.4 of which sovereign (17.8) 16.1 (1.7) 5.9 (0.3) (21.0) 19.2 (1.8) 6.2 0.2 of which non-sovereign (57.7) 53.2 (4.5) 25.2 0.9 (64.8) 60.1 (4.7) 23.4 1.2 Multi-name instruments (CHF billion) Investment grade 2 (94.5) 92.3 (2.2) 41.1 0.0 (107.1) 104.7 (2.4) 59.3 0.7 Non-investment grade (20.3) 20.1 (0.2) 8.2 3 0.7 (21.0) 19.6 (1.4) 12.0 3 0.9 Total multi-name instruments (114.8) 112.4 (2.4) 49.3 0.7 (128.1) 124.3 (3.8) 71.3 1.6 of which sovereign (0.2) 0.2 0.0 0.0 0.0 (0.3) 0.3 0.0 0.3 0.0 of which non-sovereign (114.6) 112.2 (2.4) 49.3 0.7 (127.8) 124.0 (3.8) 71.0 1.6 Total instruments (CHF billion) Investment grade 2 (144.0) 138.6 (5.4) 55.8 0.5 (164.7) 158.5 (6.2) 74.6 1.6 Non-investment grade (46.3) 43.1 (3.2) 24.6 0.8 (49.2) 45.1 (4.1) 26.3 1.4 Total instruments (190.3) 181.7 (8.6) 80.4 1.3 (213.9) 203.6 (10.3) 100.9 3.0 of which sovereign (18.0) 16.3 (1.7) 5.9 (0.3) (21.3) 19.5 (1.8) 6.5 0.2 of which non-sovereign (172.3) 165.4 (6.9) 74.5 1.6 (192.6) 184.1 (8.5) 94.4 2.8 1 Represents credit protection purchased with identical underlyings and recoveries. 2 Based on internal ratings of BBB and above. 3 Includes synthetic securitized loan portfolios. |
Contingent credit risk | Contingent credit risk end of 2Q18 4Q17 Special Special Contingent credit risk (CHF billion) Current net exposure 4.3 0.1 0.9 5.3 5.4 0.1 1.2 6.7 Collateral posted 3.3 0.1 – 3.4 4.4 0.1 – 4.5 Impact of a one-notch downgrade event 0.2 0.0 0.0 0.2 0.2 0.1 0.1 0.4 Impact of a two-notch downgrade event 0.8 0.2 0.3 1.3 0.9 0.2 0.5 1.6 Impact of a three-notch downgrade event 0.9 0.3 0.5 1.7 1.0 0.4 0.7 2.1 The impact of a downgrade event reflects the amount of additional collateral required for bilateral counterparties and special purpose entities and the amount of additional termination expenses for accelerated terminations, respectively. |
Reconciliation of notional amount of credit derivatives included in fair value of derivative instruments to credit protection sold/purchased | Credit derivatives end of 2Q18 4Q17 Credit derivatives (CHF billion) Credit protection sold 190.3 213.9 Credit protection purchased 181.7 203.6 Other protection purchased 80.4 100.9 Other instruments 1 10.2 6.5 Total credit derivatives 462.6 524.9 1 Consists of total return swaps and other derivative instruments. |
Maturity of credit protection sold | Maturity of credit protection sold Maturity Maturity Maturity 2Q18 (CHF billion) Single-name instruments 14.4 56.7 4.4 75.5 Multi-name instruments 23.7 71.0 20.1 114.8 Total instruments 38.1 127.7 24.5 190.3 4Q17 (CHF billion) Single-name instruments 21.6 59.4 4.8 85.8 Multi-name instruments 31.2 79.9 17.0 128.1 Total instruments 52.8 139.3 21.8 213.9 |
Bank | |
Fair value of derivative instruments | Fair value of derivative instruments Trading Hedging 1 Positive Negative Positive Negative Derivative instruments (CHF billion) Forwards and forward rate agreements 10,168.2 2.4 2.5 0.0 0.0 0.0 Swaps 14,921.1 53.0 49.0 49.5 0.1 0.2 Options bought and sold (OTC) 2,584.0 20.6 19.7 0.0 0.0 0.0 Futures 788.1 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 1,236.7 0.3 0.4 0.0 0.0 0.0 Interest rate products 29,698.1 76.3 71.6 49.5 0.1 0.2 Forwards 1,289.5 13.4 14.0 12.6 0.1 0.0 Swaps 526.9 17.8 21.2 0.0 0.0 0.0 Options bought and sold (OTC) 439.8 5.8 6.0 0.7 0.0 0.0 Futures 10.3 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 4.2 0.0 0.1 0.0 0.0 0.0 Foreign exchange products 2,270.7 37.0 41.3 13.3 0.1 0.0 Forwards 2.3 0.1 0.1 0.0 0.0 0.0 Swaps 187.7 4.1 4.6 0.0 0.0 0.0 Options bought and sold (OTC) 224.2 8.1 7.4 0.0 0.0 0.0 Futures 37.9 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 410.7 10.0 12.0 0.0 0.0 0.0 Equity/index-related products 862.8 22.3 24.1 0.0 0.0 0.0 Credit derivatives 2 462.6 6.7 8.1 0.0 0.0 0.0 Forwards 6.0 0.0 0.0 0.0 0.0 0.0 Swaps 18.7 1.3 1.0 0.0 0.0 0.0 Options bought and sold (OTC) 8.2 0.1 0.1 0.0 0.0 0.0 Futures 12.5 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 1.3 0.0 0.0 0.0 0.0 0.0 Other products 3 46.7 1.4 1.1 0.0 0.0 0.0 Total derivative instruments 33,340.9 143.7 146.2 62.8 0.2 0.2 The notional amount, PRV and NRV (trading and hedging) was CHF 33,403.7 billion, CHF 143.9 billion and CHF 146.4 billion, respectively, as of June 30, 2018. 1 Relates to derivative contracts that qualify for hedge accounting under US GAAP. 2 Primarily credit default swaps. 3 Primarily precious metals, commodity and energy products. Fair value of derivative instruments (continued) Trading Hedging 1 Positive Negative Positive Negative Derivative instruments (CHF billion) Forwards and forward rate agreements 8,509.3 1.2 1.2 0.0 0.0 0.0 Swaps 13,048.8 60.4 56.3 46.8 0.2 0.2 Options bought and sold (OTC) 2,374.5 25.2 24.0 0.0 0.0 0.0 Futures 547.8 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 419.2 0.2 0.3 0.0 0.0 0.0 Interest rate products 24,899.6 87.0 81.8 46.8 0.2 0.2 Forwards 1,387.9 10.7 11.1 13.3 0.0 0.2 Swaps 581.1 15.2 19.9 0.0 0.0 0.0 Options bought and sold (OTC) 414.8 4.6 4.8 2.1 0.0 0.0 Futures 13.0 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 5.4 0.0 0.0 0.0 0.0 0.0 Foreign exchange products 2,402.2 30.5 35.8 15.4 0.0 0.2 Forwards 0.9 0.0 0.1 0.0 0.0 0.0 Swaps 199.1 3.8 4.9 0.0 0.0 0.0 Options bought and sold (OTC) 221.8 8.6 8.5 0.0 0.0 0.0 Futures 32.8 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 373.2 9.3 10.3 0.0 0.0 0.0 Equity/index-related products 827.8 21.7 23.8 0.0 0.0 0.0 Credit derivatives 2 524.9 7.7 8.9 0.0 0.0 0.0 Forwards 7.0 0.0 0.1 0.0 0.0 0.0 Swaps 17.9 1.5 1.4 0.0 0.0 0.0 Options bought and sold (OTC) 10.1 0.1 0.0 0.0 0.0 0.0 Futures 15.6 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 2.1 0.0 0.0 0.0 0.0 0.0 Other products 3 52.7 1.6 1.5 0.0 0.0 0.0 Total derivative instruments 28,707.2 148.5 151.8 62.2 0.2 0.4 The notional amount, PRV and NRV (trading and hedging) was CHF 28,769.4 billion, CHF 148.7 billion and CHF 152.2 billion, respectively, as of December 31, 2017. 1 Relates to derivative contracts that qualify for hedge accounting under US GAAP. 2 Primarily credit default swaps. 3 Primarily precious metals, commodity and energy products. |
Fair value hedges | Fair value hedges in 6M18 6M17 Gains/(losses) recognized in income on derivatives (CHF million) Interest rate products (755) 31 Total (755) 31 Gains/(losses) recognized in income on hedged items (CHF million) Interest rate products 790 (44) Total 790 (44) Details of fair value hedges (CHF million) Net gains/(losses) on the ineffective portions 35 (13) Represents gains/(losses) recognized in trading revenues. |
Cash flow hedges | Cash flow hedges in 6M18 6M17 Gains/(losses) recognized in AOCI on derivatives (CHF million) Interest rate products (92) 1 Foreign exchange products (73) (30) Total (165) (29) Gains/(losses) reclassified from AOCI into income (CHF million) Interest rate products 1 (40) (2) Foreign exchange products 2 (39) (17) Total (79) (19) Details of cash flow hedges (CHF million) Net gains/(losses) on the ineffective portions 2 (2) 1 1 Included in interest and dividend income. 2 Included in trading revenues. |
Net investment hedges | Net investment hedges in 6M18 6M17 Gains/(losses) recognized in AOCI on derivatives (CHF million) Foreign exchange products 158 (54) Total 158 (54) Represents gains/(losses) on effective portion. |
Credit protection sold/purchased | Credit protection sold/purchased end of 6M18 2017 1 Net credit Fair value 1 Net credit Fair value Single-name instruments (CHF billion) Investment grade 2 (49.5) 46.3 (3.2) 14.7 0.5 (57.6) 53.8 (3.8) 15.3 0.9 Non-investment grade (26.0) 23.0 (3.0) 16.4 0.1 (28.2) 25.5 (2.7) 14.3 0.5 Total single-name instruments (75.5) 69.3 (6.2) 31.1 0.6 (85.8) 79.3 (6.5) 29.6 1.4 of which sovereign (17.8) 16.1 (1.7) 5.9 (0.3) (21.0) 19.2 (1.8) 6.2 0.2 of which non-sovereign (57.7) 53.2 (4.5) 25.2 0.9 (64.8) 60.1 (4.7) 23.4 1.2 Multi-name instruments (CHF billion) Investment grade 2 (94.5) 92.3 (2.2) 41.1 0.0 (107.1) 104.7 (2.4) 59.3 0.7 Non-investment grade (20.3) 20.1 (0.2) 8.2 3 0.7 (21.0) 19.6 (1.4) 12.0 3 0.9 Total multi-name instruments (114.8) 112.4 (2.4) 49.3 0.7 (128.1) 124.3 (3.8) 71.3 1.6 of which sovereign (0.2) 0.2 0.0 0.0 0.0 (0.3) 0.3 0.0 0.3 0.0 of which non-sovereign (114.6) 112.2 (2.4) 49.3 0.7 (127.8) 124.0 (3.8) 71.0 1.6 Total instruments (CHF billion) Investment grade 2 (144.0) 138.6 (5.4) 55.8 0.5 (164.7) 158.5 (6.2) 74.6 1.6 Non-investment grade (46.3) 43.1 (3.2) 24.6 0.8 (49.2) 45.1 (4.1) 26.3 1.4 Total instruments (190.3) 181.7 (8.6) 80.4 1.3 (213.9) 203.6 (10.3) 100.9 3.0 of which sovereign (18.0) 16.3 (1.7) 5.9 (0.3) (21.3) 19.5 (1.8) 6.5 0.2 of which non-sovereign (172.3) 165.4 (6.9) 74.5 1.6 (192.6) 184.1 (8.5) 94.4 2.8 1 Represents credit protection purchased with identical underlyings and recoveries. 2 Based on internal ratings of BBB and above. 3 Includes synthetic securitized loan portfolios. |
Contingent credit risk | Contingent credit risk end of 6M18 2017 Special Special Contingent credit risk (CHF billion) Current net exposure 4.3 0.1 0.9 5.3 5.4 0.1 1.2 6.7 Collateral posted 3.3 0.1 – 3.4 4.4 0.1 – 4.5 Impact of a one-notch downgrade event 0.2 0.0 0.0 0.2 0.2 0.1 0.1 0.4 Impact of a two-notch downgrade event 0.8 0.2 0.3 1.3 0.9 0.2 0.5 1.6 Impact of a three-notch downgrade event 0.9 0.3 0.5 1.7 1.0 0.4 0.7 2.1 The impact of a downgrade event reflects the amount of additional collateral required for bilateral counterparties and special purpose entities and the amount of additional termination expenses for accelerated terminations, respectively. |
Reconciliation of notional amount of credit derivatives included in fair value of derivative instruments to credit protection sold/purchased | Credit derivatives end of 6M18 2017 Credit derivatives (CHF billion) Credit protection sold 190.3 213.9 Credit protection purchased 181.7 203.6 Other protection purchased 80.4 100.9 Other instruments 1 10.2 6.5 Total credit derivatives 462.6 524.9 1 Consists of total return swaps and other derivative instruments. |
Maturity of credit protection sold | Maturity of credit protection sold Maturity Maturity Maturity 6M18 (CHF billion) Single-name instruments 14.4 56.7 4.4 75.5 Multi-name instruments 23.7 71.0 20.1 114.8 Total instruments 38.1 127.7 24.5 190.3 2017 (CHF billion) Single-name instruments 21.6 59.4 4.8 85.8 Multi-name instruments 31.2 79.9 17.0 128.1 Total instruments 52.8 139.3 21.8 213.9 |
Guarantees and commitments (Tab
Guarantees and commitments (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Guarantees | Guarantees Maturity Maturity Total Total 1 2Q18 (CHF million) Credit guarantees and similar instruments 2,212 1,135 3,347 3,134 3 1,554 Performance guarantees and similar instruments 5,066 1,971 7,037 6,095 47 2,809 Derivatives 2 18,267 6,219 24,486 24,486 445 – 3 Other guarantees 4,977 2,097 7,074 7,066 54 4,255 Total guarantees 30,522 11,422 41,944 40,781 549 8,618 4Q17 (CHF million) Credit guarantees and similar instruments 1,817 1,269 3,086 2,837 12 1,603 Performance guarantees and similar instruments 4,931 2,212 7,143 6,216 44 3,012 Derivatives 2 15,520 8,984 24,504 24,504 403 – 3 Other guarantees 4,461 2,217 6,678 6,673 47 3,833 Total guarantees 26,729 14,682 41,411 40,230 506 8,448 1 Total net amount is computed as the gross amount less any participations. 2 Excludes derivative contracts with certain active commercial and investment banks and certain other counterparties, as such contracts can be cash settled and the Group had no basis to conclude it was probable that the counterparties held, at inception, the underlying instruments. 3 Collateral for derivatives accounted for as guarantees is not significant. |
Other commitments | Other commitments end of 2Q18 4Q17 Maturity Maturity Total Total 1 Maturity Maturity Total Total 1 Other commitments (CHF million) Irrevocable commitments under documentary credits 5,231 390 5,621 5,301 3,499 4,976 115 5,091 5,000 3,218 Irrevocable loan commitments 2 25,834 90,804 116,638 111,328 50,786 24,296 82,105 106,401 101,270 42,307 Forward reverse repurchase agreements 170 0 170 170 170 12 0 12 12 12 Other commitments 432 229 661 661 1 219 128 347 347 0 Total other commitments 31,667 91,423 123,090 117,460 54,456 29,503 82,348 111,851 106,629 45,537 1 Total net amount is computed as the gross amount less any participations. 2 Irrevocable loan commitments do not include a total gross amount of CHF 115,633 million and CHF 108,663 million of unused credit limits as of the end of 2Q18 and 4Q17 respectively, which were revocable at the Group's sole discretion upon notice to the client. |
Bank | |
Guarantees | Guarantees Maturity Maturity 1 6M18 (CHF million) Credit guarantees and similar instruments 2,215 1,140 3,355 3,142 3 1,557 Performance guarantees and similar instruments 5,066 1,971 7,037 6,095 47 2,809 Derivatives 2 18,267 6,219 24,486 24,486 445 – 3 Other guarantees 4,977 2,097 7,074 7,066 54 4,255 Total guarantees 30,525 11,427 41,952 40,789 549 8,621 2017 (CHF million) Credit guarantees and similar instruments 1,820 1,269 3,089 2,840 12 1,603 Performance guarantees and similar instruments 4,931 2,212 7,143 6,216 44 3,012 Derivatives 2 15,520 8,984 24,504 24,504 403 – 3 Other guarantees 4,461 2,217 6,678 6,673 47 3,833 Total guarantees 26,732 14,682 41,414 40,233 506 8,448 1 Total net amount is computed as the gross amount less any participations. 2 Excludes derivative contracts with certain active commercial and investment banks and certain other counterparties, as such contracts can be cash settled and the Bank had no basis to conclude it was probable that the counterparties held, at inception, the underlying instruments. 3 Collateral for derivatives accounted for as guarantees is not considered significant. |
Other commitments | Other commitments 6M18 2017 Maturity Maturity 1 Maturity Maturity 1 Other commitments (CHF million) Irrevocable commitments under documentary credits 5,231 390 5,621 5,301 3,499 4,976 115 5,091 5,000 3,218 Irrevocable loan commitments 25,834 90,804 116,638 2 111,328 50,786 24,296 82,105 106,401 2 101,270 42,307 Forward reverse repurchase agreements 170 0 170 170 170 12 0 12 12 12 Other commitments 431 229 660 660 1 219 128 347 347 0 Total other commitments 31,666 91,423 123,089 117,459 54,456 29,503 82,348 111,851 106,629 45,537 1 Total net amount is computed as the gross amount less any participations. 2 Irrevocable loan commitments do not include a total gross amount of CHF 115,635 million and CHF 108,665 million of unused credit limits as of the end of 6M18 and 2017, respectively, which were revocable at the Bank's sole discretion upon notice to the client. The prior period has been adjusted to the current presentation. |
Transfers of financial assets67
Transfers of financial assets and variable interest entities (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Securitizations | Securitizations in 6M18 6M17 Gains and cash flows (CHF million) CMBS Net gain 1 7 34 Proceeds from transfer of assets 3,568 2,917 Cash received on interests that continue to be held 23 18 RMBS Net gain/(loss) 1 (4) 6 Proceeds from transfer of assets 16,765 5,807 Purchases of previously transferred financial assets or its underlying collateral (1) (2) 2 Servicing fees 1 1 Cash received on interests that continue to be held 406 146 Other asset-backed financings Net gain 1 58 24 Proceeds from transfer of assets 3,950 3,404 Purchases of previously transferred financial assets or its underlying collateral 3 (232) (209) 2 Fees 4 67 56 Cash received on interests that continue to be held 1 1 1 Includes underwriting revenues, deferred origination fees, gains or losses on the sale of collateral to the SPE and gains or losses on the sale of newly issued securities to third parties, but excludes net interest income on assets prior to the securitization. The gains or losses on the sale of the collateral is the difference between the fair value on the day prior to the securitization pricing date and the sale price of the loans. 2 Line item was omitted in 6M17. 3 Represents market making activity and voluntary repurchases at fair value where no repurchase obligations were present. 4 Represents management fees and performance fees earned for investment management services provided to managed CLOs. |
Principal amounts outstanding and total assets of SPEs resulting from continuing involvement | Principal amounts outstanding and total assets of SPEs resulting from continuing involvement end of 2Q18 4Q17 CHF million CMBS Principal amount outstanding 23,938 19,918 Total assets of SPE 37,020 31,586 RMBS Principal amount outstanding 47,792 35,645 Total assets of SPE 48,862 36,770 Other asset-backed financings Principal amount outstanding 24,176 20,916 Total assets of SPE 45,550 39,330 Principal amount outstanding relates to assets transferred from the Group and does not include principal amounts for assets transferred from third parties. |
Key economic assumptions used in measuring fair value of beneficial interests at time of transfer | Key economic assumptions used in measuring fair value of beneficial interests at time of transfer at time of transfer, in 6M18 6M17 CMBS RMBS CMBS RMBS CHF million, except where indicated Fair value of beneficial interests 463 2,626 60 637 of which level 2 463 2,542 60 538 of which level 3 0 84 0 99 Weighted-average life, in years 5.7 7.6 7.7 9.5 Prepayment speed assumption (rate per annum), in % 1 – 2 5.5 – 13.5 – 2 6.7 – 16.8 Cash flow discount rate (rate per annum), in % 3 3.6 – 9.8 3.0 – 13.2 2.9 – 3.0 2.3 – 11.7 Expected credit losses (rate per annum), in % 4 1.8 – 1.8 2.8 – 5.5 0.0 – 0.0 3.2 – 3.7 Transfers of assets in which the Group does not have beneficial interests are not included in this table. 1 Prepayment speed assumption (PSA) is an industry standard prepayment speed metric used for projecting prepayments over the life of a residential mortgage loan. PSA utilizes the constant prepayment rate (CPR) assumptions. A 100% prepayment assumption assumes a prepayment rate of 0.2% per annum of the outstanding principal balance of mortgage loans in the first month. This increases by 0.2 percentage points thereafter during the term of the mortgage loan, leveling off to a CPR of 6% per annum beginning in the 30th month and each month thereafter during the term of the mortgage loan. 100 PSA equals 6 CPR. 2 To deter prepayment, commercial mortgage loans typically have prepayment protection in the form of prepayment lockouts and yield maintenances. 3 The rate was based on the weighted-average yield on the beneficial interests. 4 The range of expected credit losses only reflects instruments with an expected credit loss greater than zero unless all of the instruments have an expected credit loss of zero. |
Key economic assumptions used in measuring fair value of beneficial interests held in SPEs | Key economic assumptions used in measuring fair value of beneficial interests held in SPEs end of 2Q18 4Q17 1 Other asset- 2 1 Other asset- 2 CHF million, except where indicated Fair value of beneficial interests 709 2,748 159 579 1,985 665 of which non-investment grade 90 709 9 100 508 50 Weighted-average life, in years 5.4 8.1 5.8 4.7 8.1 6.4 Prepayment speed assumption (rate per annum), in % 3 – 1.0 – 20.0 – – 1.0 – 25.0 – Impact on fair value from 10% adverse change – (29.2) – – (35.0) – Impact on fair value from 20% adverse change – (56.4) – – (68.1) – Cash flow discount rate (rate per annum), in % 4 3.1 – 12.6 2.9 – 29.4 0.9 – 21.2 2.7 – 12.3 1.9 – 30.6 1.0 – 21.2 Impact on fair value from 10% adverse change (13.9) (60.8) (1.8) (8.8) (49.2) (12.4) Impact on fair value from 20% adverse change (27.3) (118.3) (3.5) (17.0) (95.3) (24.5) Expected credit losses (rate per annum), in % 5 0.5 – 9.7 0.9 – 26.6 0.7 – 21.2 0.6 – 6.3 0.5 – 28.2 0.7 – 21.2 Impact on fair value from 10% adverse change (5.0) (25.3) (1.5) (3.9) (23.6) (6.6) Impact on fair value from 20% adverse change (10.0) (49.4) (2.9) (7.8) (46.1) (12.9) 1 To deter prepayment, commercial mortgage loans typically have prepayment protection in the form of prepayment lockouts and yield maintenances. 2 CDOs and CLOs within this category are generally structured to be protected from prepayment risk. 3 PSA is an industry standard prepayment speed metric used for projecting prepayments over the life of a residential mortgage loan. PSA utilizes the CPR assumptions. A 100% prepayment assumption assumes a prepayment rate of 0.2% per annum of the outstanding principal balance of mortgage loans in the first month. This increases by 0.2 percentage points thereafter during the term of the mortgage loan, leveling off to a CPR of 6% per annum beginning in the 30th month and each month thereafter during the term of the mortgage loan. 100 PSA equals 6 CPR. 4 The rate was based on the weighted-average yield on the beneficial interests. 5 The range of expected credit losses only reflects instruments with an expected credit loss greater than zero unless all of the instruments have an expected credit loss of zero. |
Carrying amounts of transferred financial assets and liabilities where sale treatment was not achieved | Carrying amounts of transferred financial assets and liabilities where sale treatment was not achieved end of 2Q18 4Q17 CHF million Other asset-backed financings Trading assets 213 347 Other assets 0 48 Liability to SPE, included in other liabilities (213) (395) |
Securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral | Securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral – by class of collateral pledged end of 2Q18 4Q17 CHF billion Government debt securities 24.3 31.4 Corporate debt securities 12.3 15.1 Asset-backed securities 2.8 5.0 Other 0.2 0.6 Securities sold under repurchase agreements 39.6 52.1 Government debt securities 2.6 2.7 Corporate debt securities 0.4 0.4 Equity securities 4.0 4.8 Other 0.3 0.3 Securities lending transactions 7.3 8.2 Government debt securities 1.3 1.8 Corporate debt securities 0.6 0.6 Asset-backed securities 0.1 0.0 Equity securities 43.5 35.6 Other 0.0 0.1 Obligation to return securities received as collateral, at fair value 45.5 38.1 Total 92.4 98.4 Securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral – by remaining contractual maturity Remaining contractual maturities 1 Up to 2 31–90 More than 2Q18 (CHF billion) Securities sold under repurchase agreements 7.6 21.9 5.4 4.7 39.6 Securities lending transactions 4.7 2.4 0.2 0.0 7.3 Obligation to return securities received as collateral, at fair value 45.3 0.0 0.2 0.0 45.5 Total 57.6 24.3 5.8 4.7 92.4 4Q17 (CHF billion) Securities sold under repurchase agreements 7.2 32.5 5.2 7.2 52.1 Securities lending transactions 5.7 2.2 0.0 0.3 8.2 Obligation to return securities received as collateral, at fair value 37.9 0.0 0.0 0.2 38.1 Total 50.8 34.7 5.2 7.7 98.4 1 Includes contracts with no contractual maturity that may contain termination arrangements subject to a notice period. 2 Includes overnight transactions. |
Consolidated VIEs in which the Group was primary beneficiary | Consolidated VIEs in which the Group was the primary beneficiary Financial intermediation CDO/ CP Securi- 2Q18 (CHF million) Cash and due from banks 34 0 75 68 53 10 240 Trading assets 56 0 106 147 929 14 1,252 Investment securities 0 0 679 0 0 0 679 Other investments 0 0 0 199 1,127 284 1,610 Net loans 0 0 32 0 20 247 299 Premises and equipment 0 0 0 0 126 0 126 Other assets 371 10 925 12 46 675 2,039 of which loans held-for-sale 370 0 144 0 3 0 517 Total assets of consolidated VIEs 461 10 1,817 426 2,301 1,230 6,245 Trading liabilities 1 0 0 0 2 0 3 Long-term debt 173 0 838 0 26 35 1,072 Other liabilities 1 0 1 8 110 100 220 Total liabilities of consolidated VIEs 175 0 839 8 138 135 1,295 4Q17 (CHF million) Cash and due from banks 22 0 96 32 70 12 232 Trading assets 17 0 10 179 1,122 20 1,348 Investment securities 0 0 381 0 0 0 381 Other investments 0 0 0 350 1,197 286 1,833 Net loans 0 0 0 3 21 243 267 Premises and equipment 0 0 0 0 151 0 151 Other assets 83 4 1,070 21 32 1,188 2,398 of which loans held-for-sale 83 0 152 0 3 0 238 Total assets of consolidated VIEs 122 4 1,557 585 2,593 1,749 6,610 Trading liabilities 0 0 0 0 3 0 3 Long-term debt 51 0 752 0 26 34 863 Other liabilities 0 0 1 26 111 66 204 Total liabilities of consolidated VIEs 51 0 753 26 140 100 1,070 |
Non-consolidated VIEs | Non-consolidated VIEs Financial intermediation CDO/ Securi- 2Q18 (CHF million) Trading assets 159 5,829 900 207 2,839 9,934 Net loans 312 1,375 2,111 4,040 1,092 8,930 Other assets 5 12 111 0 458 586 Total variable interest assets 476 7,216 3,122 4,247 4,389 19,450 Maximum exposure to loss 476 8,880 3,122 7,293 5,203 24,974 Total assets of non-consolidated VIEs 6,517 83,744 92,329 18,825 41,654 243,069 4Q17 (CHF million) Trading assets 746 4,573 1,014 224 2,388 8,945 Net loans 620 1,563 2,438 4,591 328 9,540 Other assets 9 11 67 1 437 525 Total variable interest assets 1,375 6,147 3,519 4,816 3,153 19,010 Maximum exposure to loss 1,375 7,617 3,526 7,061 4,079 23,658 Total assets of non-consolidated VIEs 15,874 64,839 66,703 16,270 35,198 198,884 |
Bank | |
Securitizations | Securitizations in 6M18 6M17 Gains and cash flows (CHF million) CMBS Net gain 1 7 34 Proceeds from transfer of assets 3,568 2,917 Cash received on interests that continue to be held 23 18 RMBS Net gain/(loss) 1 (4) 6 Proceeds from transfer of assets 16,765 5,807 Purchases of previously transferred financial assets or its underlying collateral (1) (2) 2 Servicing fees 1 1 Cash received on interests that continue to be held 406 146 Other asset-backed financings Net gain 1 58 24 Proceeds from transfer of assets 3,950 3,404 Purchases of previously transferred financial assets or its underlying collateral 3 (232) (209) 2 Fees 4 67 56 Cash received on interests that continue to be held 1 1 1 Includes underwriting revenues, deferred origination fees, gains or losses on the sale of collateral to the SPE and gains or losses on the sale of newly issued securities to third parties, but excludes net interest income on assets prior to the securitization. The gains or losses on the sale of the collateral is the difference between the fair value on the day prior to the securitization pricing date and the sale price of the loans. 2 Line item was omitted in 6M17. 3 Represents market making activity and voluntary repurchases at fair value where no repurchase obligations were present. 4 Represents management fees and performance fees earned for investment management services provided to managed CLOs. |
Principal amounts outstanding and total assets of SPEs resulting from continuing involvement | Principal amounts outstanding and total assets of SPEs resulting from continuing involvement end of 6M18 2017 CHF million CMBS Principal amount outstanding 23,938 19,918 Total assets of SPE 37,020 31,586 RMBS Principal amount outstanding 47,792 35,645 Total assets of SPE 48,862 36,770 Other asset-backed financings Principal amount outstanding 24,176 20,916 Total assets of SPE 45,550 39,330 Principal amount outstanding relates to assets transferred from the Bank and does not include principle amounts for assets transferred from third parties. |
Key economic assumptions used in measuring fair value of beneficial interests at time of transfer | Key economic assumptions used in measuring fair value of beneficial interests at time of transfer at time of transfer, in 6M18 6M17 CMBS RMBS CMBS RMBS CHF million, except where indicated Fair value of beneficial interests 463 2,626 60 637 of which level 2 463 2,542 60 538 of which level 3 0 84 0 99 Weighted-average life, in years 5.7 7.6 7.7 9.5 Prepayment speed assumption (rate per annum), in % 1 – 2 5.5 – 13.5 – 2 6.7 – 16.8 Cash flow discount rate (rate per annum), in % 3 3.6 – 9.8 3.0 – 13.2 2.9 – 3.0 2.3 – 11.7 Expected credit losses (rate per annum), in % 4 1.8 – 1.8 2.8 – 5.5 0.0 – 0.0 3.2 – 3.7 Transfers of assets in which the Bank does not have beneficial interests are not included in this table. 1 Prepayment speed assumption (PSA) is an industry standard prepayment speed metric used for projecting prepayments over the life of a residential mortgage loan. PSA utilizes the constant prepayment rate (CPR) assumptions. A 100% prepayment assumption assumes a prepayment rate of 0.2% per annum of the outstanding principal balance of mortgage loans in the first month. This increases by 0.2 percentage points thereafter during the term of the mortgage loan, leveling off to a CPR of 6% per annum beginning in the 30th month and each month thereafter during the term of the mortgage loan. 100 PSA equals 6 CPR. 2 To deter prepayment, commercial mortgage loans typically have prepayment protection in the form of prepayment lockouts and yield maintenances. 3 The rate was based on the weighted-average yield on the beneficial interests. 4 The range of expected credit losses only reflects instruments with an expected credit loss greater than zero unless all of the instruments have an expected credit loss of zero. |
Key economic assumptions used in measuring fair value of beneficial interests held in SPEs | Key economic assumptions used in measuring fair value of beneficial interests held in SPEs end of 6M18 2017 1 Other asset- 2 1 Other asset- 2 CHF million, except where indicated Fair value of beneficial interests 709 2,748 159 579 1,985 665 of which non-investment grade 90 709 9 100 508 50 Weighted-average life, in years 5.4 8.1 5.8 4.7 8.1 6.4 Prepayment speed assumption (rate per annum), in % 3 – 1.0 – 20.0 – – 1.0 – 25.0 – Impact on fair value from 10% adverse change – (29.2) – – (35.0) – Impact on fair value from 20% adverse change – (56.4) – – (68.1) – Cash flow discount rate (rate per annum), in % 4 3.1 – 12.6 2.9 – 29.4 0.9 – 21.2 2.7 – 12.3 1.9 – 30.6 1.0 – 21.2 5 Impact on fair value from 10% adverse change (13.9) (60.8) (1.8) (8.8) (49.2) (12.4) Impact on fair value from 20% adverse change (27.3) (118.3) (3.5) (17.0) (95.3) (24.5) Expected credit losses (rate per annum), in % 6 0.5 – 9.7 0.9 – 26.6 0.7 – 21.2 0.6 – 6.3 0.5 – 28.2 0.7 – 21.2 5 Impact on fair value from 10% adverse change (5.0) (25.3) (1.5) (3.9) (23.6) (6.6) Impact on fair value from 20% adverse change (10.0) (49.4) (2.9) (7.8) (46.1) (12.9) 1 To deter prepayment, commercial mortgage loans typically have prepayment protection in the form of prepayment lockouts and yield maintenances. 2 CDOs within this category are generally structured to be protected from prepayment risk. 3 PSA is an industry standard prepayment speed metric used for projecting prepayments over the life of a residential mortgage loan. PSA utilizes the CPR assumptions. A 100% prepayment assumption assumes a prepayment rate of 0.2% per annum of the outstanding principal balance of mortgage loans in the first month. This increases by 0.2 percentage points thereafter during the term of the mortgage loan, leveling off to a CPR of 6% per annum beginning in the 30th month and each month thereafter during the term of the mortgage loan. 100 PSA equals 6 CPR. 4 The rate was based on the weighted-average yield on the beneficial interests. 5 Prior period has been corrected. 6 The range of expected credit losses only reflects instruments with an expected credit loss greater than zero unless all of the instruments have an expected credit loss of zero. |
Carrying amounts of transferred financial assets and liabilities where sale treatment was not achieved | Carrying amounts of transferred financial assets and liabilities where sale treatment was not achieved end of 6M18 2017 CHF million Other asset-backed financings Trading assets 213 347 Other assets 0 48 Liability to SPE, included in other liabilities (213) (395) |
Securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral | Securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral – by class of collateral pledged end of 6M18 2017 CHF billion Government debt securities 24.3 31.4 Corporate debt securities 12.3 15.1 Asset-backed securities 2.8 5.0 Other 0.2 0.6 Securities sold under repurchase agreements 39.6 52.1 Government debt securities 2.6 2.7 Corporate debt securities 0.4 0.4 Equity securities 4.0 4.8 Other 0.3 0.3 Securities lending transactions 7.3 8.2 Government debt securities 1.3 1.8 Corporate debt securities 0.6 0.6 Asset-backed securities 0.1 0.0 Equity securities 43.5 35.6 Other 0.0 0.1 Obligation to return securities received as collateral, at fair value 45.5 38.1 Total 92.4 98.4 Securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral – by remaining contractual maturity Remaining contractual maturities 1 Up to 2 31-90 More than 6M18 (CHF billion) Securities sold under repurchase agreements 7.6 21.9 5.4 4.7 39.6 Securities lending transactions 4.7 2.4 0.2 0.0 7.3 Obligation to return securities received as collateral, at fair value 45.3 0.0 0.2 0.0 45.5 Total 57.6 24.3 5.8 4.7 92.4 2017 (CHF billion) Securities sold under repurchase agreements 7.2 32.5 5.2 7.2 52.1 Securities lending transactions 5.7 2.2 0.0 0.3 8.2 Obligation to return securities received as collateral, at fair value 37.9 0.0 0.0 0.2 38.1 Total 50.8 34.7 5.2 7.7 98.4 1 Includes contracts with no contractual maturity that may contain termination arrangements subject to a notice period. 2 Includes overnight transactions. |
Consolidated VIEs in which the Group was primary beneficiary | Consolidated VIEs in which the Bank was the primary beneficiary Financial intermediation CDO/ CP Securi- 6M18 (CHF million) Cash and due from banks 34 0 75 68 53 10 240 Trading assets 56 0 106 147 929 14 1,252 Investment securities 0 0 679 0 0 0 679 Other investments 0 0 0 199 1,127 284 1,610 Net loans 0 0 32 0 20 247 299 Premises and equipment 0 0 0 0 104 0 104 Other assets 371 10 925 12 45 674 2,037 of which loans held-for-sale 370 0 144 0 3 0 517 Total assets of consolidated VIEs 461 10 1,817 426 2,278 1,229 6,221 Trading liabilities 1 0 0 0 2 0 3 Long-term debt 173 0 838 0 26 35 1,072 Other liabilities 1 0 1 8 109 100 219 Total liabilities of consolidated VIEs 175 0 839 8 137 135 1,294 2017 (CHF million) Cash and due from banks 22 0 96 32 70 12 232 Trading assets 17 0 10 179 1,122 20 1,348 Investment securities 0 0 381 0 0 0 381 Other investments 0 0 0 350 1,197 286 1,833 Net loans 0 0 0 3 21 243 267 Premises and equipment 0 0 0 0 128 0 128 Other assets 83 4 1,070 21 31 1,187 2,396 of which loans held-for-sale 83 0 152 0 3 0 238 Total assets of consolidated VIEs 122 4 1,557 585 2,569 1,748 6,585 Trading liabilities 0 0 0 0 3 0 3 Long-term debt 51 0 752 0 26 34 863 Other liabilities 0 0 1 26 111 66 204 Total liabilities of consolidated VIEs 51 0 753 26 140 100 1,070 |
Non-consolidated VIEs | Non-consolidated VIEs Financial intermediation CDO/ Securi- 6M18 (CHF million) Trading assets 159 5,829 900 207 2,839 9,934 Net loans 312 1,375 2,111 4,040 1,092 8,930 Other assets 5 12 100 0 458 575 Total variable interest assets 476 7,216 3,111 4,247 4,389 19,439 Maximum exposure to loss 476 8,880 3,111 7,293 5,203 24,963 Total assets of non-consolidated VIEs 6,517 83,744 89,367 18,825 12,737 211,190 2017 (CHF million) Trading assets 746 4,573 1,014 224 2,388 8,945 Net loans 620 1,563 2,438 4,591 328 9,540 Other assets 9 11 55 1 437 513 Total variable interest assets 1,375 6,147 3,507 4,816 3,153 18,998 Maximum exposure to loss 1,375 7,617 3,514 7,061 4,079 23,646 Total assets of non-consolidated VIEs 15,874 64,839 63,504 16,270 6,265 166,752 |
Financial instruments (Tables)
Financial instruments (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Assets and liabilities measured at fair value on a recurring basis | Assets and liabilities measured at fair value on a recurring basis 1 Assets 2 Assets (CHF million) Cash and due from banks 0 185 0 – – 185 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 0 75,706 0 – – 75,706 Debt 1,126 858 0 – – 1,984 of which corporates 0 764 0 – – 764 Equity 43,389 140 9 – – 43,538 Securities received as collateral 44,515 998 9 – – 45,522 Debt 24,772 40,650 2,161 – 12 67,595 of which foreign governments 24,521 3,688 219 – – 28,428 of which corporates 123 9,874 1,233 – 12 11,242 of which RMBS 0 22,228 446 – – 22,674 of which CMBS 0 3,191 20 – – 3,211 of which CDO 4 1,450 108 – – 1,562 Equity 39,705 2,841 182 – 1,026 43,754 Derivatives 7,130 133,357 3,116 (124,039) – 19,564 of which interest rate products 2,451 73,145 707 – – – of which foreign exchange products 350 36,435 231 – – – of which equity/index-related products 4,327 17,175 747 – – – of which credit derivatives 0 5,913 745 – – – Other 1,965 572 2,136 – – 4,673 Trading assets 73,572 177,420 7,595 (124,039) 1,038 135,586 Debt 99 2,079 153 – – 2,331 of which foreign governments 99 1,141 0 – – 1,240 of which corporates 0 410 0 – – 410 of which RMBS 0 526 151 – – 677 of which CMBS 0 0 2 – – 2 Investment securities 99 2,079 153 – – 2,331 Private equity 0 0 23 – 407 430 of which equity funds 0 0 23 – 147 170 Hedge funds 0 0 0 – 194 194 of which debt funds 0 0 0 – 121 121 Other equity investments 22 85 124 – 1,083 1,314 of which private 22 84 96 – 1,083 1,285 Life finance instruments 0 0 1,201 – – 1,201 Other investments 22 85 1,348 – 1,684 3,139 Loans 0 11,527 4,184 – – 15,711 of which commercial and industrial loans 0 4,140 1,859 – – 5,999 of which financial institutions 0 5,026 1,426 – – 6,452 Other intangible assets (mortgage servicing rights) 0 0 151 – – 151 Other assets 75 8,293 1,560 (185) – 9,743 of which loans held-for-sale 0 6,281 1,355 – – 7,636 Total assets at fair value 118,283 276,293 15,000 (124,224) 2,722 288,074 1 Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements. 2 In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the consolidated balance sheet. Assets and liabilities measured at fair value on a recurring basis (continued) 1 Liabilities 2 Liabilities (CHF million) Due to banks 0 169 0 – – 169 Customer deposits 0 2,941 466 – – 3,407 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 0 9,457 0 – – 9,457 Debt 1,126 858 0 – – 1,984 of which corporates 0 764 0 – – 764 Equity 43,389 140 9 – – 43,538 Obligation to return securities received as collateral 44,515 998 9 – – 45,522 Debt 4,297 4,214 41 – – 8,552 of which foreign governments 4,272 326 0 – – 4,598 of which corporates 6 3,779 41 – – 3,826 Equity 18,744 242 54 – 2 19,042 Derivatives 8,122 135,036 2,948 (130,924) – 15,182 of which interest rate products 2,749 68,649 230 – – – of which foreign exchange products 326 40,835 159 – – – of which equity/index-related products 5,045 17,806 1,129 – – – of which credit derivatives 0 7,165 900 – – – Trading liabilities 31,163 139,492 3,043 (130,924) 2 42,776 Short-term borrowings 0 10,010 1,665 – – 11,675 Long-term debt 0 49,242 12,963 – – 62,205 of which treasury debt over two years 0 899 0 – – 899 of which structured notes over one year and up to two years 0 7,088 543 – – 7,631 of which structured notes over two years 0 29,659 12,155 – – 41,814 of which other debt instruments over two years 0 2,664 108 – – 2,772 of which other subordinated bonds 0 5,062 1 – – 5,063 of which non-recourse liabilities 0 1,033 39 – – 1,072 Other liabilities 0 6,870 1,096 (216) – 7,750 of which failed sales 0 465 99 – – 564 Total liabilities at fair value 75,678 219,179 19,242 (131,140) 2 182,961 1 Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements. 2 In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the consolidated balance sheet. Assets and liabilities measured at fair value on a recurring basis (continued) 1 Assets 2 Assets (CHF million) Cash and due from banks 0 212 0 – – 212 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 0 77,498 0 – – 77,498 Debt 576 802 0 – – 1,378 of which corporates 0 726 0 – – 726 Equity 36,121 529 46 – – 36,696 Securities received as collateral 36,697 1,331 46 – – 38,074 Debt 29,828 40,645 2,292 – – 72,765 of which foreign governments 29,561 4,256 270 – – 34,087 of which corporates 179 10,231 1,412 – – 11,822 of which RMBS 0 21,399 320 – – 21,719 of which CMBS 0 2,501 16 – – 2,517 of which CDO 0 2,255 126 – – 2,381 Equity 51,025 3,481 163 – 1,053 55,722 Derivatives 3,577 141,347 3,289 (128,592) – 19,621 of which interest rate products 1,219 84,932 801 – – – of which foreign exchange products 19 30,302 188 – – – of which equity/index-related products 2,338 18,251 833 – – – of which credit derivatives 0 7,107 634 – – – Other 2,922 2,294 3,010 – – 8,226 Trading assets 87,352 187,767 8,754 (128,592) 1,053 156,334 Debt 244 1,780 42 – – 2,066 of which foreign governments 97 1,139 0 – – 1,236 of which corporates 0 238 0 – – 238 of which RMBS 0 167 40 – – 207 of which CMBS 0 171 2 – – 173 Equity 6 119 0 – – 125 Investment securities 250 1,899 42 – – 2,191 Private equity 0 0 29 – 351 380 of which equity funds 0 0 22 – 141 163 Hedge funds 0 0 0 – 391 391 of which debt funds 0 0 0 – 239 239 Other equity investments 25 9 271 – 1,122 1,427 of which private 18 9 271 – 1,122 1,420 Life finance instruments 0 7 1,301 – – 1,308 Other investments 25 16 1,601 – 1,864 3,506 Loans 0 10,777 4,530 – – 15,307 of which commercial and industrial loans 0 3,437 2,207 – – 5,644 of which financial institutions 0 4,890 1,480 – – 6,370 Other intangible assets (mortgage servicing rights) 0 0 158 – – 158 Other assets 101 7,570 1,511 (164) – 9,018 of which loans held-for-sale 0 5,800 1,350 – – 7,150 Total assets at fair value 124,425 287,070 16,642 (128,756) 2,917 302,298 1 Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements. 2 In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the consolidated balance sheet. Assets and liabilities measured at fair value on a recurring basis (continued) 1 Liabilities 2 Liabilities (CHF million) Due to banks 0 197 0 – – 197 Customer deposits 0 3,056 455 – – 3,511 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 0 15,262 0 – – 15,262 Debt 576 802 0 – – 1,378 of which corporates 0 726 0 – – 726 Equity 36,121 529 46 – – 36,696 Obligation to return securities received as collateral 36,697 1,331 46 – – 38,074 Debt 5,160 4,139 2 – – 9,301 of which foreign governments 5,108 746 0 – – 5,854 of which corporates 12 3,334 2 – – 3,348 Equity 14,217 883 55 – 9 15,164 Derivatives 3,731 144,615 3,169 (136,861) – 14,654 of which interest rate products 1,254 80,534 317 – – – of which foreign exchange products 8 35,707 100 – – – of which equity/index-related products 2,468 19,459 1,301 – – – of which credit derivatives 0 7,982 898 – – – Trading liabilities 23,108 149,637 3,226 (136,861) 9 39,119 Short-term borrowings 0 10,174 845 – – 11,019 Long-term debt 0 51,127 12,501 – – 63,628 of which treasury debt over two years 0 936 0 – – 936 of which structured notes over one year and up to two years 0 6,216 149 – – 6,365 of which structured notes over two years 0 32,782 12,259 – – 45,041 of which other debt instruments over two years 0 2,221 61 – – 2,282 of which other subordinated bonds 0 5,567 0 – – 5,567 of which non-recourse liabilities 0 833 30 – – 863 Other liabilities 0 7,379 1,478 (233) – 8,624 of which failed sales 0 439 223 – – 662 Total liabilities at fair value 59,805 238,163 18,551 (137,094) 9 179,434 1 Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements. 2 In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the consolidated balance sheet. |
Transfers between level 1 and level 2 | Transfers between level 1 and level 2 in 6M18 6M17 Transfers Transfers Transfers Transfers Assets (CHF million) Securities received as collateral 8 19 0 137 Debt 42 108 7 206 Equity 521 182 663 161 Derivatives 2,551 1 2,287 0 Trading assets 3,114 291 2,957 367 Liabilities (CHF million) Obligations to return securities received as collateral 8 19 . 0 137 Debt 13 2 0 44 Equity 41 97 49 78 Derivatives 2,837 18 2,594 32 Trading liabilities 2,891 117 2,643 154 |
Assets and liabilities measured at fair value on a recurring basis for level 3 | Assets and liabilities measured at fair value on a recurring basis for level 3 Accumulated other 1 1 1 Foreign Assets (CHF million) Securities received as collateral 46 0 (15) 58 (80) 0 0 0 0 0 0 0 0 0 9 Debt 2,292 514 (425) 1,503 (1,540) 0 0 (10) (165) 0 (4) 0 0 (4) 2,161 of which corporates 1,412 305 (279) 1,181 (1,289) 0 0 (9) (97) 0 (4) 0 0 13 1,233 of which RMBS 320 161 (120) 289 (146) 0 0 (1) (64) 0 0 0 0 7 446 of which CMBS 16 20 (1) 3 (13) 0 0 0 (5) 0 0 0 0 0 20 of which CDO 126 14 (13) 16 (36) 0 0 0 (1) 0 0 0 0 2 108 Equity 163 40 (22) 39 (81) 0 0 (3) 45 0 (1) 0 0 2 182 Derivatives 3,289 167 (182) 0 0 786 (651) (26) (267) 0 0 0 0 0 3,116 of which interest rate products 801 11 (22) 0 0 61 (45) 0 (92) 0 0 0 0 (7) 707 of which equity/index-related products 833 108 (115) 0 0 242 (234) (17) (56) 0 0 0 0 (14) 747 of which credit derivatives 634 45 (44) 0 0 310 (130) (6) (77) 0 0 0 0 13 745 Other 3,010 22 (62) 22,527 (23,478) 0 (18) 2 107 0 1 0 0 25 2,136 Trading assets 8,754 743 (691) 24,069 (25,099) 786 (669) (37) (280) 0 (4) 0 0 23 7,595 Investment securities 42 0 (4) 153 (28) 0 (157) 0 143 0 0 0 0 4 153 Equity 300 0 (110) 49 (84) 0 0 0 (1) 0 2 0 0 (9) 147 Life finance instruments 1,301 0 0 87 (152) 0 0 0 (52) 0 0 0 0 17 1,201 Other investments 1,601 0 (110) 136 (236) 0 0 0 (53) 0 2 0 0 8 1,348 Loans 4,530 493 (30) 32 (187) 824 (1,403) 0 (103) 0 0 0 0 28 4,184 of which commercial and industrial loans 2,207 57 (25) 0 (30) 366 (707) 0 (22) 0 0 0 0 13 1,859 of which financial institutions 1,480 321 (5) 31 (36) 286 (634) 0 (25) 0 0 0 0 8 1,426 Other intangible assets (mortgage servicing rights) 158 0 0 0 0 0 0 0 0 0 (10) 0 0 3 151 Other assets 1,511 201 (56) 681 (716) 142 (130) 0 (19) 0 0 0 0 (54) 1,560 of which loans held-for-sale 2 1,350 174 (49) 633 (673) 142 (130) 0 (35) 0 0 0 0 (57) 1,355 Total assets at fair value 16,642 1,437 (906) 25,129 (26,346) 1,752 (2,359) (37) (312) 0 (12) 0 0 12 15,000 Liabilities (CHF million) Customer deposits 455 0 0 0 0 0 0 0 41 0 0 0 (21) (9) 466 Obligation to return securities received as collateral 46 0 (15) 58 (80) 0 0 0 0 0 0 0 0 0 9 Trading liabilities 3,226 226 (288) 69 (35) 926 (787) (1) (322) 0 (2) 0 0 31 3,043 of which interest rate derivatives 317 13 (5) 0 0 120 (87) 5 (135) 0 0 0 0 2 230 of which foreign exchange derivatives 100 19 (1) 0 0 44 (4) 0 (1) 0 0 0 0 2 159 of which equity/index-related derivatives 1,301 84 (170) 0 0 328 (339) (7) (76) 0 0 0 0 8 1,129 of which credit derivatives 898 72 (106) 0 0 309 (222) 4 (70) 0 0 0 0 15 900 Short-term borrowings 845 133 (55) 0 0 1,474 (739) (1) (55) 0 (5) 0 36 32 1,665 Long-term debt 12,501 2,035 (1,794) 0 0 2,538 (2,014) 3 (382) 0 0 (2) (128) 206 12,963 of which structured notes over two years 12,259 1,721 (1,728) 0 0 1,927 (1,721) 4 (370) 0 0 (2) (129) 194 12,155 Other liabilities 1,478 19 (29) 7 (115) 0 (356) (6) (23) 0 111 0 0 10 1,096 of which failed sales 223 12 (26) 2 (107) 0 0 0 (6) 0 0 0 0 1 99 Total liabilities at fair value 18,551 2,413 (2,181) 134 (230) 4,938 (3,896) (5) (741) 0 104 (2) (113) 270 19,242 Net assets/(liabilities) at fair value (1,909) (976) 1,275 24,995 (26,116) (3,186) 1,537 (32) 429 0 (116) 2 113 (258) (4,242) 1 For all transfers to level 3 or out of level 3, the Group determines and discloses as level 3 events only gains or losses through the last day of the reporting period. 2 Includes unrealized losses recorded in trading revenues of CHF (22) million primarily related to subprime exposures in securitized products business and market movements across the wider loans held-for-sale portfolio. Assets and liabilities measured at fair value on a recurring basis for level 3 (continued) Accumulated other 1 1 1 Foreign Assets (CHF million) Interest-bearing deposits with banks 1 39 0 0 0 0 0 0 (1) 0 0 0 0 0 39 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 174 0 0 0 0 26 (195) 0 0 0 0 0 0 (5) 0 Securities received as collateral 70 3 (1) 31 (87) 0 0 0 0 0 0 0 0 (2) 14 Debt 3,977 326 (555) 1,447 (2,764) 0 0 (7) (97) 0 6 0 0 (223) 2,110 of which corporates 1,674 113 (279) 1,040 (1,390) 0 0 (6) (40) 0 4 0 0 (117) 999 of which RMBS 605 189 (130) 64 (206) 0 0 2 (62) 0 0 0 0 (31) 431 of which CMBS 65 4 (15) 0 (11) 0 0 (3) (2) 0 0 0 0 (3) 35 of which CDO 1,165 14 (114) 132 (965) 0 0 0 (17) 0 0 0 0 (37) 178 Equity 240 15 (18) 32 (124) 0 0 0 2 0 0 0 0 (12) 135 Derivatives 4,305 215 (657) 0 0 503 (856) 103 (50) 0 0 0 0 (252) 3,311 of which interest rate products 748 4 (32) 0 0 90 (102) 5 34 0 0 0 0 (33) 714 of which equity/index-related products 914 85 (45) 0 0 191 (320) 9 38 0 0 0 0 (59) 813 of which credit derivatives 688 126 (188) 0 0 40 (161) 25 (38) 0 0 0 0 (38) 454 Other 4,243 49 (51) 6,774 (8,022) 0 (221) 3 262 0 0 0 0 (224) 2,813 Trading assets 12,765 605 (1,281) 8,253 (10,910) 503 (1,077) 99 117 0 6 0 0 (711) 8,369 Investment securities 72 0 (16) 64 (80) 0 (67) (1) 68 0 0 0 0 (4) 36 Equity 318 0 0 98 (116) 0 0 0 (12) 0 23 0 0 (19) 292 Life finance instruments 1,588 0 0 96 (245) 0 0 0 22 0 0 0 0 (96) 1,365 Other investments 1,906 0 0 194 (361) 0 0 0 10 0 23 0 0 (115) 1,657 Loans 6,585 491 (372) 54 (487) 631 (1,418) (19) 114 0 0 0 0 (367) 5,212 of which commercial and industrial loans 3,816 216 (103) 51 (321) 250 (1,033) (7) 76 0 0 0 0 (198) 2,747 of which financial institutions 1,829 275 (9) 3 (162) 349 (335) 0 (10) 0 0 0 0 (110) 1,830 Other intangible assets (mortgage servicing rights) 138 0 0 1 (1) 0 0 0 0 0 (2) 0 0 (8) 128 Other assets 1,679 100 (37) 346 (562) 1,010 (95) (2) (123) 0 (1) 0 0 (139) 2,176 of which loans held-for-sale 1,316 55 (26) 317 (447) 1,009 (95) (2) (33) 0 0 0 0 (121) 1,973 Total assets at fair value 23,390 1,238 (1,707) 8,943 (12,488) 2,170 (2,852) 77 185 0 26 0 0 (1,351) 17,631 Liabilities (CHF million) Customer deposits 410 0 0 0 0 26 0 0 (10) 0 0 0 13 (6) 433 Obligation to return securities received as collateral 70 3 (1) 31 (87) 0 0 0 0 0 0 0 0 (2) 14 Trading liabilities 3,737 217 (732) 81 (80) 569 (994) 79 23 0 5 0 0 (225) 2,680 of which interest rate derivatives 538 6 (30) 0 0 13 (229) 3 (6) 0 0 0 0 (25) 270 of which foreign exchange derivatives 150 10 (1) 0 0 5 (4) 0 (57) 0 0 0 0 (8) 95 of which equity/index-related derivatives 1,181 12 (81) 0 0 321 (410) (3) 117 0 0 0 0 (76) 1,061 of which credit derivatives 851 143 (226) 0 0 103 (175) 17 (41) 0 0 0 0 (50) 622 Short-term borrowings 516 89 (22) 0 0 332 (277) (2) 9 0 8 0 0 (33) 620 Long-term debt 13,415 744 (1,623) 0 0 2,289 (1,785) 45 718 0 0 12 124 (943) 12,996 of which structured notes over two years 12,434 603 (1,533) 0 0 1,936 (1,496) 45 726 0 0 12 124 (879) 11,972 Other liabilities 1,684 72 (31) 117 (170) 7 (364) (18) (25) 0 174 0 0 (91) 1,355 of which failed sales 219 20 (13) 106 (131) 0 0 (1) 12 0 0 0 0 (13) 199 Total liabilities at fair value 19,832 1,125 (2,409) 229 (337) 3,223 (3,420) 104 715 0 187 12 137 (1,300) 18,098 Net assets/(liabilities) at fair value 3,558 113 702 8,714 (12,151) (1,053) 568 (27) (530) 0 (161) (12) (137) (51) (467) 1 For all transfers to level 3 or out of level 3, the Group determines and discloses as level 3 events only gains or losses through the last day of the reporting period. |
Gains and losses on assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (level 3) | Gains and losses on assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (level 3) in 2Q18 2Q17 Trading Other Total Trading Other Total Gains and losses on assets and liabilities (CHF million) Net realized/unrealized gains/(losses) included in net revenues 397 (116) 281 1 (557) (161) (718) 1 Whereof: Unrealized gains/(losses) relating to assets and liabilities still held as of the reporting date (79) 3 (76) (1,107) 11 (1,096) 1 Excludes net realized/unrealized gains/(losses) attributable to foreign currency translation impact. |
Quantitative information about level 3 assets and liabilities at fair value | Quantitative information about level 3 assets at fair value Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Securities received as collateral 9 – – – – – Debt 2,161 of which corporates 1,233 of which 653 Option model Correlation, in % (60) 100 62 Volatiliy, in % 0 96 25 of which 493 Market comparable Price, in % 0 104 78 of which RMBS 446 Discounted cash flow Discount rate, in % 0 30 7 Prepayment rate, in % 2 23 9 Default rate, in % 0 8 3 Loss severity, in % 0 100 51 of which CMBS 20 Discounted cash flow Capitalization rate, in % 14 14 14 Discount rate, in % 6 13 11 Prepayment rate, in % 0 27 6 of which CDO 108 Discounted cash flow Discount rate, in % 4 14 7 Prepayment rate, in % 0 20 19 Credit spread, in bp 482 663 576 Default rate, in % 0 2 2 Loss severity, in % 30 100 32 Equity 182 of which 111 Vendor price Price, in actuals 0 427 5 of which 70 Market comparable EBITDA multiple 2 8 7 Price, in % 100 100 100 1 Cash instruments are generally presented on a weighted average basis, while certain derivative instruments either contain a combination of weighted averages and arithmetic means of the related inputs or are presented on an arithmetic mean basis. Quantitative information about level 3 assets at fair value (continued) Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Derivatives 3,116 of which interest rate products 707 Option model Correlation, in % 3 100 76 Prepayment rate, in % 1 25 9 Volatility skew, in % (4) 0 (2) of which equity/index-related products 747 Option model Correlation, in % (60) 100 73 Volatility, in % 0 96 33 Buyback probability, in % 2 50 100 75 Gap risk, in % 3 0 4 1 of which credit derivatives 745 Discounted cash flow Credit spread, in bp 1 2,913 566 Recovery rate, in % 0 45 20 Discount rate, in % 2 28 16 Default rate, in % 2 20 5 Loss severity, in % 16 100 64 Correlation, in % 97 97 97 Prepayment rate, in % 0 20 6 Funding spread, in % 1 2 1 Funding rate, in % 12 12 12 Other 2,136 of which 1,092 Market comparable Price, in % 0 115 16 of which 903 Discounted cash flow Market implied life expectancy, in years 3 16 7 Trading assets 7,595 Investment securities 153 – – – – – Private equity 23 – – – – – Other equity investments 124 – – – – – Life finance instruments 1,201 Discounted cash flow Market implied life expectancy, in years 2 18 6 Other investments 1,348 Loans 4,184 of which commercial and industrial loans 1,859 of which 1,545 Discounted cash flow Credit spread, in bp 90 1,905 510 of which 313 Market comparable Price, in % 0 100 61 of which financial institutions 1,426 of which 1,245 Discounted cash flow Credit spread, in bp 32 1,764 592 Other intangible assets (mortgage servicing rights) 151 – – – – – Other assets 1,560 of which loans held-for-sale 1,355 of which 717 Discounted cash flow Credit spread, in bp 89 1,301 277 Recovery rate, in % 42 87 68 of which 323 Market comparable Price, in % 0 101 88 Total level 3 assets at fair value 15,000 1 Cash instruments are generally presented on a weighted average basis, while certain derivative instruments either contain a combination of weighted averages and arithmetic means of the related inputs or are presented on an arithmetic mean basis. 2 Estimate of the probability of structured notes being put back to the Group at the option of the investor over the remaining life of the financial instruments. 3 Risk of unexpected large declines in the underlying values occuring between collateral settlement dates. Quantitative information about level 3 assets at fair value (continued) Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Securities received as collateral 46 – – – – – Debt 2,292 of which corporates 1,412 of which 387 Option model Correlation, in % (60) 98 55 of which 545 Market comparable Price, in % 0 139 84 of which 444 Discounted cash flow Credit spread, in bp 37 952 230 of which RMBS 320 Discounted cash flow Discount rate, in % 1 24 11 Prepayment rate, in % 1 36 10 Default rate, in % 0 12 4 Loss severity, in % 0 100 57 of which CMBS 16 Discounted cash flow Capitalization rate, in % 14 14 14 Discount rate, in % 8 16 14 Prepayment rate, in % 0 5 4 of which CDO 126 Discounted cash flow Discount rate, in % 5 13 8 Prepayment rate, in % 5 20 13 Credit spread, in bp 464 669 553 Default rate, in % 2 5 3 Loss severity, in % 0 80 34 Equity 163 of which 67 Vendor price Price, in actuals 0 2,080 10 of which 81 Market comparable EBITDA multiple 2 9 7 Price, in % 18 100 67 1 Cash instruments are generally presented on a weighted average basis, while certain derivative instruments either contain a combination of weighted averages and arithmetic means of the related inputs or are presented on an arithmetic mean basis. Quantitative information about level 3 assets at fair value (continued) Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Derivatives 3,289 of which interest rate products 801 Option model Correlation, in % 20 100 72 Prepayment rate, in % 6 34 17 Volatility skew, in % (4) 1 (1) of which equity/index-related products 833 Option model Correlation, in % (60) 98 65 Volatility, in % 0 105 64 Buyback probability, in % 2 50 100 90 Gap risk, in % 3 0 2 1 of which credit derivatives 634 Discounted cash flow Credit spread, in bp 1 956 217 Recovery rate, in % 0 45 20 Discount rate, in % 3 50 16 Default rate, in % 1 20 5 Loss severity, in % 1 100 64 Correlation, in % 97 97 97 Prepayment rate, in % 0 14 6 Other 3,010 of which 1,605 Market comparable Price, in % 0 110 23 of which 1,095 Discounted cash flow Market implied life expectancy, in years 3 18 8 Trading assets 8,754 Investment securities 42 – – – – – Private equity 29 – – – – – Other equity investments 271 – – – – – Life finance instruments 1,301 Discounted cash flow Market implied life expectancy, in years 2 18 6 Other investments 1,601 Loans 4,530 of which commercial and industrial loans 2,207 of which 1,924 Discounted cash flow Credit spread, in bp 89 1,116 420 of which 250 Market comparable Price, in % 0 99 56 of which financial institutions 1,480 of which 1,426 Discounted cash flow Credit spread, in bp 43 1,430 371 Other intangible assets (mortgage servicing rights) 158 – – – – – Other assets 1,511 of which loans held-for-sale 1,350 of which 849 Discounted cash flow Credit spread, in bp 117 973 292 Recovery rate, in % 18 87 73 of which 280 Market comparable Price, in % 0 102 88 Total level 3 assets at fair value 16,642 1 Cash instruments are generally presented on a weighted average basis, while certain derivative instruments either contain a combination of weighted averages and arithmetic means of the related inputs or are presented on an arithmetic mean basis. 2 Estimate of the probability of structured notes being put back to the Group at the option of the investor over the remaining life of the financial instruments. 3 Risk of unexpected large declines in the underlying values occuring between collateral settlement dates. Quantitative information about level 3 liabilities at fair value Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Customer deposits 466 – – – – – Obligation to return securities received as collateral 9 – – – – – Trading liabilities 3,043 of which interest rate derivatives 230 of which 165 Option model Basis spread, in bp (31) 147 42 Correlation, in % 20 100 58 Prepayment rate, in % 1 25 7 of which foreign exchange derivatives 159 of which 59 Option model Correlation, in % (10) 70 52 Prepayment rate, in % 21 25 23 of which 31 Discounted cash flow Contingent probability, in % 95 95 95 Credit spread, in bp 267 473 426 of which 47 Market comparable Price, in % 100 101 100 of which equity/index-related derivatives 1,129 of which 1,100 Option model Correlation, in % (60) 100 68 Volatility, in % 0 96 28 Buyback probability, in % 2 50 100 75 of which credit derivatives 900 of which 30 Option model Funding spread, in bp 68 68 68 of which 708 Discounted cash flow Credit spread, in bp 0 2,913 378 Discount rate, in % 2 28 15 Default rate, in % 2 20 4 Recovery rate, in % 20 60 34 Loss severity, in % 16 100 66 Correlation, in % 38 82 49 Funding spread, in % 1 2 2 Funding rate, in % 14 14 14 Prepayment rate, in % 0 20 6 of which 116 Market comparable Price, in % 59 94 79 Short-term borrowings 1,665 of which 1,410 Option model Correlation, in % (40) 100 70 Volatility, in % 3 96 27 of which 252 Discounted cash flow Credit spread, in bp (1) 517 65 Recovery rate, in % 20 49 33 Long-term debt 12,963 of which structured notes over two years 12,155 of which 9,647 Option model Correlation, in % (60) 100 61 Volatility, in % 0 96 23 Buyback probability, in % 2 50 100 75 Gap risk, in % 3 0 4 1 Mean reversion, in % 4 (110) (1) (7) of which 1,496 Discounted cash flow Credit spread, in bp (14) 2,260 98 Other liabilities 1,096 of which failed sales 99 of which 67 Market comparable Price, in % 0 101 52 Total level 3 liabilities at fair value 19,242 1 Cash instruments are generally presented on a weighted average basis, while certain derivative instruments either contain a combination of weighted averages and arithmetic means of the related inputs or are presented on an arithmetic mean basis. 2 Estimate of the probability of structured notes being put back to the Group at the option of the investor over the remaining life of the financial instruments. 3 Risk of unexpected large declines in the underlying values occuring between collateral settlement dates. 4 Management's best estimate of the speed at which interest rates will revert to the long-term average. Quantitative information about level 3 liabilities at fair value (continued) Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Customer deposits 455 – – – – – Obligation to return securities received as collateral 46 – – – – – Trading liabilities 3,226 of which interest rate derivatives 317 of which 205 Option model Basis spread, in bp (25) 52 19 Correlation, in % 20 100 60 Prepayment rate, in % 6 34 9 of which 81 Market comparable Price, in % 1 102 44 of which foreign exchange derivatives 100 of which 64 Option model Correlation, in % (10) 70 51 Prepayment rate, in % 27 34 30 of which 7 Discounted cash flow Contingent probability, in % 95 95 95 of which equity/index-related derivatives 1,301 of which 947 Option model Correlation, in % (60) 98 55 Volatility, in % 0 105 25 Buyback probability, in % 2 50 100 90 of which 62 Vendor price Price, in actuals 0 53 18 of which credit derivatives 898 Discounted cash flow Credit spread, in bp 2 973 172 Discount rate, in % 3 50 16 Default rate, in % 1 20 5 Recovery rate, in % 10 60 38 Loss severity, in % 25 100 67 Correlation, in % 38 85 54 Prepayment rate, in % 0 20 7 Term TRS/repo spread, in bp 176 176 176 Short-term borrowings 845 of which 288 Option model Correlation, in % (40) 98 60 Volatility, in % 4 105 26 of which 527 Discounted cash flow Credit spread, in bp 2 278 175 Recovery rate, in % 25 40 29 of which 24 Market comparable Price, in % 11 47 47 Long-term debt 12,501 of which structured notes over two years 12,259 of which 9,739 Option model Correlation, in % (60) 99 55 Volatility, in % 0 105 21 Buyback probability, in % 2 50 100 90 Gap risk, in % 3 0 2 1 Mean reversion, in % 4 (14) (1) (6) of which 1,571 Discounted cash flow Credit spread, in bp 2 729 105 Other liabilities 1,478 of which failed sales 223 of which 122 Market comparable Price, in % 0 100 51 of which 25 Discounted cash flow Credit spread, in bp 1,430 1,430 1,430 Total level 3 liabilities at fair value 18,551 1 Cash instruments are generally presented on a weighted average basis, while certain derivative instruments either contain a combination of weighted averages and arithmetic means of the related inputs or are presented on an arithmetic mean basis. 2 Estimate of the probability of structured notes being put back to the Group at the option of the investor over the remaining life of the financial instruments. 3 Risk of unexpected large declines in the underlying values occuring between collateral settlement dates. 4 Management's best estimate of the speed at which interest rates will revert to the long-term average. |
Own credit gains/(losses) on fair value option elected instruments recorded in AOCI | Own credit gains/(losses) on fair value option elected instruments recorded in AOCI 1 Gains/(losses) recorded 1 in 2Q18 Cumulative 2Q17 2Q18 2Q17 Financial instruments (CHF million) Deposits 4 (36) (4) 0 0 Short-term borrowings (18) (60) 0 2 0 Long-term debt 834 (1,340) (613) 25 (2) of which treasury debt over two years 284 (179) (209) 0 0 of which structured notes over two years 526 (1,180) (423) 25 (7) Total 820 (1,436) (617) 27 (2) 1 Amounts are reflected gross of tax. |
Fair value, unfunded commitments and term of redemption conditions | Fair value, unfunded commitments and term of redemption conditions end of 2Q18 4Q17 Unfunded Unfunded Fair value and unfunded commitments (CHF million) Debt funds 12 0 12 0 0 0 0 0 Equity funds 76 950 1 1,026 0 61 992 2 1,053 0 Equity funds sold short (1) (1) (2) 0 0 (9) (9) 0 Total funds held in trading assets and liabilities 87 949 1,036 0 61 983 1,044 0 Debt funds 87 34 121 0 164 75 239 0 Equity funds 14 15 29 0 2 53 55 0 Others 2 42 44 0 2 95 97 9 Hedge funds 103 91 3 194 0 168 223 4 391 9 Debt funds 1 0 1 0 1 0 1 0 Equity funds 147 0 147 46 141 0 141 64 Real estate funds 221 0 221 40 178 0 178 44 Others 34 4 38 21 31 0 31 15 Private equities 403 4 407 107 351 0 351 123 Equity method investments 57 1,026 1,083 25 71 1,051 1,122 5 Total funds held in other investments 563 1,121 1,684 132 590 1,274 1,864 137 Total fair value 650 5 2,070 6 2,720 132 7 651 5 2,257 6 2,908 137 7 1 55% of the redeemable fair value amount of equity funds is redeemable on demand with a notice period primarily of less than 30 days, 35% is redeemable on a monthly basis with a notice period primarily of less than 30 days, 8% is redeemable on a quarterly basis with a notice period primarily of more than 45 days and 1% is redeemable on an annual basis with a notice period primarily of less than 30 days. 2 54% of the redeemable fair value amount of equity funds is redeemable on demand with a notice period primarily of less than 30 days, 35% is redeemable on a monthly basis with a notice period primarily of less than 30 days, 9% is redeemable on a quarterly basis with a notice period primarily of more than 45 days and 2% is redeemable on an annual basis with a notice period of more than 60 days. 3 68% of the redeemable fair value amount of hedge funds is redeemable on a quarterly basis with a notice period primarily of more than 60 days, 31% is redeemable on demand with a notice period primarily of less than 30 days and 1% is redeemable on a monthly basis with a notice period primarily of more than 60 days. 4 51% of the redeemable fair value amount of hedge funds is redeemable on a quarterly basis with a notice period primarily of more than 45 days, 43% is redeemable on a monthly basis with a notice period primarily of less than 30 days and 6% is redeemable on demand with a notice period primarily of less than 30 days. 5 Includes CHF 141 million and CHF 229 million attributable to noncontrolling interests as of the end of 2Q18 and 4Q17, respectively. 6 Includes CHF 18 million and CHF 167 million attributable to noncontrolling interests as of the end of 2Q18 and 4Q17, respectively. 7 Includes CHF 27 million and CHF 53 million attributable to noncontrolling interests as of the end of 2Q18 and 4Q17, respectively. |
Nonrecurring fair value changes | Nonrecurring fair value changes end of 2Q18 4Q17 CHF billion Assets held-for-sale recorded at fair value on a nonrecurring basis 0.1 0.1 of which level 2 0.1 0.1 |
Fair Value, Option, Quantitative Disclosures [Table Text Block] | Difference between the aggregate fair value and the aggregate unpaid principal balances of loans and financial instruments end of 2Q18 4Q17 Aggregate Aggregate Aggregate Aggregate Loans (CHF million) Non-interest-earning loans 639 3,454 (2,815) 708 3,375 (2,667) Financial instruments (CHF million) Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 75,706 75,595 111 77,498 76,643 855 Loans 15,711 16,161 (450) 15,307 15,372 (65) Other assets 1 9,102 11,635 (2,533) 8,468 10,910 (2,442) Due to banks and customer deposits (819) (756) (63) (907) (861) (46) Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions (9,457) (9,456) (1) (15,262) (15,180) (82) Short-term borrowings (11,675) (11,960) 285 (11,019) (11,104) 85 Long-term debt (62,205) (66,068) 3,863 (63,628) (63,759) 131 Other liabilities (564) (1,667) 1,103 (661) (1,716) 1,055 1 Primarily loans held-for-sale. Gains and losses on financial instruments in 6M18 6M17 Net Net Financial instruments (CHF million) Interest-bearing deposits with banks 4 1 7 1 of which related to credit risk (3) 0 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 653 1 852 1 Other investments 200 2 130 2 of which related to credit risk (1) 2 Loans 288 1 841 1 of which related to credit risk (238) 39 Other assets 372 1 256 1 of which related to credit risk 88 23 Due to banks and customer deposits (2) 1 (7) 1 of which related to credit risk (12) 7 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions (38) 1 (37) 1 Short-term borrowings 1,968 2 (264) 2 Long-term debt 1,915 2 (3,554) 2 of which related to credit risk 37 0 Other liabilities 100 3 158 3 of which related to credit risk 15 106 1 Primarily recognized in net interest income. 2 Primarily recognized in trading revenues. 3 Primarily recognized in other revenues. |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Carrying value and fair value of financial instruments not carried at fair value Carrying end of Level 1 Level 2 Level 3 Total 2Q18 (CHF million) Financial assets Central banks funds sold, securities purchased under resale agreements and securities borrowing transactions 41,911 0 41,912 0 41,912 Loans 268,274 0 270,720 5,137 275,857 Other financial assets 1 129,114 112,421 16,126 730 129,277 Financial liabilities Due to banks and deposits 381,290 201,135 180,111 0 381,246 Central banks funds purchased, securities sold under repurchase agreements and securities lending transactions 10,429 19 10,412 0 10,431 Short-term borrowings 18,898 0 18,900 0 18,900 Long-term debt 103,757 0 103,920 418 104,338 Other financial liabilities 2 17,668 4 17,635 137 17,776 4Q17 (CHF million) Financial assets Central banks funds sold, securities purchased under resale agreements and securities borrowing transactions 37,848 0 37,848 0 37,848 Loans 260,093 0 264,290 3,212 267,502 Other financial assets 3 170,870 109,645 60,469 1,109 171,223 Financial liabilities Due to banks and deposits 372,867 201,575 171,281 0 372,856 Central banks funds purchased, securities sold under repurchase agreements and securities lending transactions 11,233 0 11,233 0 11,233 Short-term borrowings 14,871 0 14,870 0 14,870 Long-term debt 109,403 0 112,488 235 112,723 Other financial liabilities 3 61,316 0 61,131 172 61,303 1 Primarily includes cash and due from banks, interest-bearing deposits with banks, loans held-for-sale, cash collateral on derivative instruments, interest and fee receivables and non-marketable equity securities. 2 Primarily includes cash collateral on derivative instruments and interest and fee payables. 3 4Q17 balances included brokerage receivables and payables, which, effective January 1, 2018, are no longer included due to the adoption of ASU 2016-01. |
Bank | |
Assets and liabilities measured at fair value on a recurring basis | Assets and liabilities measured at fair value on a recurring basis 1 Assets 2 Assets (CHF million) Cash and due from banks 0 185 0 – – 185 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 0 75,706 0 – – 75,706 Debt 1,126 858 0 – – 1,984 of which corporates 0 764 0 – – 764 Equity 43,389 140 9 – – 43,538 Securities received as collateral 44,515 998 9 – – 45,522 Debt 24,772 40,750 2,161 – 12 67,695 of which foreign governments 24,521 3,688 219 – – 28,428 of which corporates 123 9,974 1,233 – 12 11,342 of which RMBS 0 22,228 446 – – 22,674 of which CMBS 0 3,191 20 – – 3,211 of which CDO 4 1,450 108 – – 1,562 Equity 39,750 2,841 182 – 1,026 43,799 Derivatives 7,130 133,414 3,116 (124,039) – 19,621 of which interest rate products 2,451 73,145 707 – – – of which foreign exchange products 350 36,435 231 – – – of which equity/index-related products 4,327 17,232 747 – – – of which credit derivatives 0 5,913 745 – – – Other 1,964 572 2,136 – – 4,672 Trading assets 73,616 177,577 7,595 (124,039) 1,038 135,787 Debt 99 2,077 153 – – 2,329 of which foreign governments 99 1,141 0 – – 1,240 of which corporates 0 410 0 – – 410 of which RMBS 0 526 151 – – 677 of which CMBS 0 0 2 – – 2 Investment securities 99 2,077 153 – – 2,329 Private equity 0 0 23 – 399 422 of which equity funds 0 0 23 – 139 162 Hedge funds 0 0 0 – 194 194 of which debt funds 0 0 0 – 121 121 Other equity investments 22 85 124 – 1,083 1,314 of which private 22 84 96 – 1,083 1,285 Life finance instruments 0 0 1,201 – – 1,201 Other investments 22 85 1,348 – 1,676 3,131 Loans 0 11,527 4,184 – – 15,711 of which commercial and industrial loans 0 4,140 1,859 – – 5,999 of which financial institutions 0 5,026 1,426 – – 6,452 Other intangible assets (mortgage servicing rights) 0 0 151 – – 151 Other assets 75 8,293 1,560 (185) – 9,743 of which loans held-for-sale 0 6,281 1,355 – – 7,636 Total assets at fair value 118,327 276,448 15,000 (124,224) 2,714 288,265 1 Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements. 2 In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the consolidated balance sheet. Assets and liabilities measured at fair value on a recurring basis (continued) 1 Liabilities 2 Liabilities (CHF million) Due to banks 0 169 0 – – 169 Customer deposits 0 2,941 466 – – 3,407 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 0 9,457 0 – – 9,457 Debt 1,126 858 0 – – 1,984 of which corporates 0 764 0 – – 764 Equity 43,389 140 9 – – 43,538 Obligation to return securities received as collateral 44,515 998 9 – – 45,522 Debt 4,297 4,214 41 – – 8,552 of which foreign governments 4,272 326 0 – – 4,598 of which corporates 6 3,779 41 – – 3,826 Equity 18,746 242 54 – 2 19,044 Derivatives 8,121 135,095 2,948 (130,981) – 15,183 of which interest rate products 2,749 68,595 230 – – – of which foreign exchange products 326 40,835 159 – – – of which equity/index-related products 5,045 17,919 1,129 – – – of which credit derivatives 0 7,165 900 – – – Trading liabilities 31,164 139,551 3,043 (130,981) 2 42,779 Short-term borrowings 0 10,010 1,665 – – 11,675 Long-term debt 0 48,309 12,963 – – 61,272 of which treasury debt over two years 0 899 0 – – 899 of which structured notes over one year and up to two years 0 7,088 543 – – 7,631 of which structured notes over two years 0 29,659 12,155 – – 41,814 of which other debt instruments over two years 0 2,664 108 – – 2,772 of which other subordinated bonds 0 4,125 1 – – 4,126 of which non-recourse liabilities 0 1,033 39 – – 1,072 Other liabilities 0 6,866 1,085 (216) – 7,735 of which failed sales 0 465 99 – – 564 Total liabilities at fair value 75,679 218,301 19,231 (131,197) 2 182,016 1 Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements. 2 In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the consolidated balance sheet. Assets and liabilities measured at fair value on a recurring basis (continued) 1 Assets 2 Assets (CHF million) Cash and due from banks 0 212 0 – – 212 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 0 77,498 0 – – 77,498 Debt 576 802 0 – – 1,378 of which corporates 0 726 0 – – 726 Equity 36,121 529 46 – – 36,696 Securities received as collateral 36,697 1,331 46 – – 38,074 Debt 29,827 40,707 2,292 – – 72,826 of which foreign governments 29,561 4,256 270 – – 34,087 of which corporates 179 10,292 1,412 – – 11,883 of which RMBS 0 21,399 320 – – 21,719 of which CMBS 0 2,501 16 – – 2,517 of which CDO 0 2,255 126 – – 2,381 Equity 51,125 3,481 163 – 1,053 55,822 Derivatives 3,577 141,641 3,289 (128,607) – 19,900 of which interest rate products 1,219 84,932 801 – – – of which foreign exchange products 19 30,302 188 – – – of which equity/index-related products 2,339 18,544 833 – – – of which credit derivatives 0 7,107 634 – – – Other 2,923 2,293 3,010 – – 8,226 Trading assets 87,452 188,122 8,754 (128,607) 1,053 156,774 Debt 244 1,778 42 – – 2,064 of which foreign governments 98 1,138 0 – – 1,236 of which corporates 0 238 0 – – 238 of which RMBS 0 167 40 – – 207 of which CMBS 0 171 2 – – 173 Equity 6 119 0 – – 125 Investment securities 250 1,897 42 – – 2,189 Private equity 0 0 29 – 343 372 of which equity funds 0 0 22 – 133 155 Hedge funds 0 0 0 – 391 391 of which debt funds 0 0 0 – 239 239 Other equity investments 25 9 271 – 1,121 1,426 of which private 18 9 271 – 1,121 1,419 Life finance instruments 0 7 1,301 – – 1,308 Other investments 25 16 1,601 – 1,855 3,497 Loans 0 10,777 4,530 – – 15,307 of which commercial and industrial loans 0 3,437 2,207 – – 5,644 of which financial institutions 0 4,890 1,480 – – 6,370 Other intangible assets (mortgage servicing rights) 0 0 158 – – 158 Other assets 101 7,570 1,511 (164) – 9,018 of which loans held-for-sale 0 5,800 1,350 – – 7,150 Total assets at fair value 124,525 287,423 16,642 (128,771) 2,908 302,727 1 Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements. 2 In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the consolidated balance sheet. Assets and liabilities measured at fair value on a recurring basis (continued) 1 Liabilities 2 Liabilities (CHF million) Due to banks 0 197 0 – – 197 Customer deposits 0 3,056 455 – – 3,511 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 0 15,262 0 – – 15,262 Debt 576 802 0 – – 1,378 of which corporates 0 726 0 – – 726 Equity 36,121 529 46 – – 36,696 Obligation to return securities received as collateral 36,697 1,331 46 – – 38,074 Debt 5,160 4,139 2 – – 9,301 of which foreign governments 5,108 746 0 – – 5,854 of which corporates 12 3,334 2 – – 3,348 Equity 14,230 883 55 – 9 15,177 Derivatives 3,731 144,929 3,169 (137,175) – 14,654 of which interest rate products 1,254 80,290 317 – – – of which foreign exchange products 8 35,707 100 – – – of which equity/index-related products 2,468 20,017 1,301 – – – of which credit derivatives 0 7,982 898 – – – Trading liabilities 23,121 149,951 3,226 (137,175) 9 39,132 Short-term borrowings 0 10,174 845 – – 11,019 Long-term debt 0 50,121 12,501 – – 62,622 of which treasury debt over two years 0 936 0 – – 936 of which structured notes over one year and up to two years 0 6,216 149 – – 6,365 of which structured notes over two years 0 32,782 12,259 – – 45,041 of which other debt instruments over two years 0 2,221 61 – – 2,282 of which other subordinated bonds 0 4,557 0 – – 4,557 of which non-recourse liabilities 0 833 30 – – 863 Other liabilities 0 7,356 1,467 (233) – 8,590 of which failed sales 0 439 223 – – 662 Total liabilities at fair value 59,818 237,448 18,540 (137,408) 9 178,407 1 Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements. 2 In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the consolidated balance sheet. |
Transfers between level 1 and level 2 | Transfers between level 1 and level 2 in 6M18 6M17 Transfers Transfers Transfers Transfers Assets (CHF million) Securities received as collateral 8 19 0 137 Debt 42 108 7 206 Equity 521 182 663 161 Derivatives 2,551 1 2,287 0 Trading assets 3,114 291 2,957 367 Liabilities (CHF million) Obligations to return securities received as collateral 8 19 0 137 Debt 13 2 0 44 Equity 41 97 49 78 Derivatives 2,837 18 2,594 32 Trading liabilities 2,891 117 2,643 154 |
Assets and liabilities measured at fair value on a recurring basis for level 3 | Assets and liabilities measured at fair value on a recurring basis for level 3 Accumulated other 1 1 Foreign Assets (CHF million) Securities received as collateral 46 0 (15) 58 (80) 0 0 0 0 0 0 0 0 0 9 Debt 2,292 514 (425) 1,503 (1,540) 0 0 (10) (165) 0 (4) 0 0 (4) 2,161 of which corporates 1,412 305 (279) 1,181 (1,289) 0 0 (9) (97) 0 (4) 0 0 13 1,233 of which RMBS 320 161 (120) 289 (146) 0 0 (1) (64) 0 0 0 0 7 446 of which CMBS 16 20 (1) 3 (13) 0 0 0 (5) 0 0 0 0 0 20 of which CDO 126 14 (13) 16 (36) 0 0 0 (1) 0 0 0 0 2 108 Equity 163 40 (22) 39 (81) 0 0 (3) 45 0 (1) 0 0 2 182 Derivatives 3,289 167 (182) 0 0 786 (651) (26) (267) 0 0 0 0 0 3,116 of which interest rate products 801 11 (22) 0 0 61 (45) 0 (92) 0 0 0 0 (7) 707 of which equity/index-related products 833 108 (115) 0 0 242 (234) (17) (56) 0 0 0 0 (14) 747 of which credit derivatives 634 45 (44) 0 0 310 (130) (6) (77) 0 0 0 0 13 745 Other 3,010 22 (62) 22,527 (23,478) 0 (18) 2 107 0 1 0 0 25 2,136 Trading assets 8,754 743 (691) 24,069 (25,099) 786 (669) (37) (280) 0 (4) 0 0 23 7,595 Investment securities 42 0 (4) 153 (28) 0 (157) 0 143 0 0 0 0 4 153 Equity 300 0 (109) 48 (84) 0 0 0 (1) 0 2 0 0 (9) 147 Life finance instruments 1,301 0 0 87 (152) 0 0 0 (52) 0 0 0 0 17 1,201 Other investments 1,601 0 (109) 135 (236) 0 0 0 (53) 0 2 0 0 8 1,348 Loans 4,530 493 (30) 32 (187) 824 (1,403) 0 (103) 0 0 0 0 28 4,184 of which commercial and industrial loans 2,207 57 (25) 0 (30) 366 (707) 0 (22) 0 0 0 0 13 1,859 of which financial institutions 1,480 321 (5) 31 (36) 286 (634) 0 (25) 0 0 0 0 8 1,426 Other intangible assets (mortgage servicing rights) 158 0 0 0 0 0 0 0 0 0 (10) 0 0 3 151 Other assets 1,511 201 (56) 681 (716) 142 (130) 0 (19) 0 0 0 0 (54) 1,560 of which loans held-for-sale 2 1,350 174 (49) 633 (673) 142 (130) 0 (35) 0 0 0 0 (57) 1,355 Total assets at fair value 16,642 1,437 (905) 25,128 (26,346) 1,752 (2,359) (37) (312) 0 (12) 0 0 12 15,000 Liabilities (CHF million) Customer deposits 455 0 0 0 0 0 0 0 41 0 0 0 (21) (9) 466 Obligation to return securities received as collateral 46 0 (15) 58 (80) 0 0 0 0 0 0 0 0 0 9 Trading liabilities 3,226 226 (288) 69 (35) 926 (787) (1) (322) 0 (2) 0 0 31 3,043 of which interest rate derivatives 317 13 (5) 0 0 120 (87) 5 (135) 0 0 0 0 2 230 of which foreign exchange derivatives 100 19 (1) 0 0 44 (4) 0 (1) 0 0 0 0 2 159 of which equity/index-related derivatives 1,301 84 (170) 0 0 328 (339) (7) (76) 0 0 0 0 8 1,129 of which credit derivatives 898 72 (106) 0 0 309 (222) 4 (70) 0 0 0 0 15 900 Short-term borrowings 845 133 (55) 0 0 1,474 (739) (1) (55) 0 (5) 0 36 32 1,665 Long-term debt 12,501 1,921 (1,794) 0 0 2,669 (2,014) 3 (402) 0 0 (2) (128) 209 12,963 of which structured notes over two years 12,259 1,721 (1,728) 0 0 1,927 (1,721) 4 (370) 0 0 (2) (129) 194 12,155 Other liabilities 1,467 19 (29) 7 (115) 0 (354) (6) (24) 0 110 0 0 10 1,085 of which failed sales 223 12 (26) 2 (107) 0 0 0 (6) 0 0 0 0 1 99 Total liabilities at fair value 18,540 2,299 (2,181) 134 (230) 5,069 (3,894) (5) (762) 0 103 (2) (113) 273 19,231 Net assets/(liabilities) at fair value (1,898) (862) 1,276 24,994 (26,116) (3,317) 1,535 (32) 450 0 (115) 2 113 (261) (4,231) 1 For all transfers to level 3 or out of level 3, the Bank determines and discloses as level 3 events only gains or losses through the last day of the reporting period. 2 Includes unrealized losses recorded in trading revenues of CHF (22) million primarily related to subprime exposures in securitized products business and market movements across the wider loans held-for-sale portfolio. Assets and liabilities measured at fair value on a recurring basis for level 3 (continued) Accumulated other 1 1 Foreign Assets (CHF million) Interest-bearing deposits with banks 1 39 0 0 0 0 0 0 (1) 0 0 0 0 0 39 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 174 0 0 0 0 26 (195) 0 0 0 0 0 0 (5) 0 Securities received as collateral 70 3 (1) 31 (86) 0 0 0 0 0 0 0 0 (3) 14 Debt 3,977 326 (555) 1,447 (2,764) 0 0 (7) (97) 0 6 0 0 (223) 2,110 of which corporates 1,674 113 (279) 1,040 (1,391) 0 0 (6) (40) 0 4 0 0 (116) 999 of which RMBS 605 189 (130) 64 (206) 0 0 2 (62) 0 0 0 0 (31) 431 of which CMBS 65 4 (14) 0 (11) 0 0 (3) (2) 0 0 0 0 (4) 35 of which CDO 1,165 14 (114) 132 (965) 0 0 0 (17) 0 0 0 0 (37) 178 Equity 240 15 (18) 32 (123) 0 0 0 2 0 0 0 0 (13) 135 Derivatives 4,305 215 (657) 0 0 503 (857) 103 (50) 0 0 0 0 (251) 3,311 of which interest rate products 748 4 (32) 0 0 90 (101) 5 34 0 0 0 0 (34) 714 of which equity/index-related products 914 85 (45) 0 0 191 (321) 9 38 0 0 0 0 (58) 813 of which credit derivatives 688 126 (188) 0 0 40 (160) 25 (38) 0 0 0 0 (39) 454 Other 4,243 49 (51) 6,774 (8,022) 0 (220) 3 262 0 0 0 0 (225) 2,813 Trading assets 12,765 605 (1,281) 8,253 (10,909) 503 (1,077) 99 117 0 6 0 0 (712) 8,369 Investment securities 72 0 (16) 64 (80) 0 (67) (1) 68 0 0 0 0 (4) 36 Equity 318 0 0 89 (106) 0 0 0 (12) 0 23 0 0 (20) 292 Life finance instruments 1,588 0 0 96 (244) 0 0 0 22 0 0 0 0 (97) 1,365 Other investments 1,906 0 0 185 (350) 0 0 0 10 0 23 0 0 (117) 1,657 Loans 6,585 491 (372) 54 (487) 631 (1,419) (19) 114 0 0 0 0 (366) 5,212 of which commercial and industrial loans 3,816 216 (103) 51 (321) 250 (1,033) (7) 76 0 0 0 0 (198) 2,747 of which financial institutions 1,829 275 (9) 3 (162) 349 (337) 0 (10) 0 0 0 0 (108) 1,830 Other intangible assets (mortgage servicing rights) 138 0 0 1 (1) 0 0 0 0 0 (2) 0 0 (8) 128 Other assets 1,679 100 (37) 346 (562) 1,008 (95) (2) (123) 0 (1) 0 0 (137) 2,176 of which loans held-for-sale 1,316 55 (26) 317 (447) 1,008 (95) (2) (33) 0 0 0 0 (120) 1,973 Total assets at fair value 23,390 1,238 (1,707) 8,934 (12,475) 2,168 (2,853) 77 185 0 26 0 0 (1,352) 17,631 Liabilities (CHF million) Customer deposits 410 0 0 0 0 26 0 0 (10) 0 0 0 13 (6) 433 Obligation to return securities received as collateral 70 3 (1) 31 (86) 0 0 0 0 0 0 0 0 (3) 14 Trading liabilities 3,737 217 (733) 81 (80) 569 (994) 79 23 0 5 0 0 (224) 2,680 of which interest rate derivatives 538 6 (30) 0 0 13 (228) 3 (6) 0 0 0 0 (26) 270 of which foreign exchange derivatives 150 10 (1) 0 0 5 (4) 0 (59) 0 0 0 0 (6) 95 of which equity/index-related derivatives 1,181 12 (81) 0 0 321 (411) (3) 117 0 0 0 0 (75) 1,061 of which credit derivatives 851 143 (225) 0 0 103 (175) 17 (41) 0 0 0 0 (51) 622 Short-term borrowings 516 89 (22) 0 0 331 (277) (2) 9 0 8 0 0 (32) 620 Long-term debt 13,415 744 (1,623) 0 0 2,290 (1,785) 45 718 0 0 12 124 (944) 12,996 of which structured notes over two years 12,434 603 (1,533) 0 0 1,936 (1,496) 45 726 0 0 12 124 (879) 11,972 Other liabilities 1,679 72 (31) 117 (170) 7 (365) (18) (25) 0 173 0 0 (90) 1,349 of which failed sales 219 20 (13) 106 (131) 0 0 (1) 12 0 0 0 0 (13) 199 Total liabilities at fair value 19,827 1,125 (2,410) 229 (336) 3,223 (3,421) 104 715 0 186 12 137 (1,299) 18,092 Net assets/(liabilities) at fair value 3,563 113 703 8,705 (12,139) (1,055) 568 (27) (530) 0 (160) (12) (137) (53) (461) 1 For all transfers to level 3 or out of level 3, the Bank determines and discloses as level 3 events only gains or losses through the last day of the reporting period. |
Gains and losses on assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (level 3) | Gains and losses on assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (level 3) in 6M18 6M17 Trading Other Total Trading Other Total Gains and losses on assets and liabilities (CHF million) Net realized/unrealized gains/(losses) included in net revenues 418 (115) 303 1 (557) (160) (717) 1 Whereof: Unrealized gains/(losses) relating to assets and liabilities still held as of the reporting date (79) 2 (77) (1,107) 10 (1,097) 1 Excludes net realized/unrealized gains/(losses) attributable to foreign currency translation impact. |
Quantitative information about level 3 assets and liabilities at fair value | Quantitative information about level 3 assets at fair value Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Securities received as collateral 9 – – – – – Debt 2,161 of which corporates 1,233 of which 653 Option model Correlation, in % (60) 100 62 Volatiliy, in % 0 96 25 of which 493 Market comparable Price, in % 0 104 78 of which RMBS 446 Discounted cash flow Discount rate, in % 0 30 7 Prepayment rate, in % 2 23 9 Default rate, in % 0 8 3 Loss severity, in % 0 100 51 of which CMBS 20 Discounted cash flow Capitalization rate, in % 14 14 14 Discount rate, in % 6 13 11 Prepayment rate, in % 0 27 6 of which CDO 108 Discounted cash flow Discount rate, in % 4 14 7 Prepayment rate, in % 0 20 19 Credit spread, in bp 482 663 576 Default rate, in % 0 2 2 Loss severity, in % 30 100 32 Equity 182 of which 111 Vendor price Price, in actuals 0 427 5 of which 70 Market comparable EBITDA multiple 2 8 7 Price, in % 100 100 100 1 Cash instruments are generally presented on a weighted average basis, while certain derivative instruments either contain a combination of weighted averages and arithmetic means of the related inputs or are presented on an arithmetic mean basis. Quantitative information about level 3 assets at fair value (continued) Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Derivatives 3,116 of which interest rate products 707 Option model Correlation, in % 3 100 76 Prepayment rate, in % 1 25 9 Volatility skew, in % (4) 0 (2) of which equity/index-related products 747 Option model Correlation, in % (60) 100 73 Volatility, in % 0 96 33 Buyback probability, in % 2 50 100 75 Gap risk, in % 3 0 4 1 of which credit derivatives 745 Discounted cash flow Credit spread, in bp 1 2,913 566 Recovery rate, in % 0 45 20 Discount rate, in % 2 28 16 Default rate, in % 2 20 5 Loss severity, in % 16 100 64 Correlation, in % 97 97 97 Prepayment rate, in % 0 20 6 Funding spread, in % 1 2 1 Funding rate, in % 12 12 12 Other 2,136 of which 1,092 Market comparable Price, in % 0 115 16 of which 903 Discounted cash flow Market implied life expectancy, in years 3 16 7 Trading assets 7,595 Investment securities 153 – – – – – Private equity 23 – – – – – Other equity investments 124 – – – – – Life finance instruments 1,201 Discounted cash flow Market implied life expectancy, in years 2 18 6 Other investments 1,348 Loans 4,184 of which commercial and industrial loans 1,859 of which 1,545 Discounted cash flow Credit spread, in bp 90 1,905 510 of which 313 Market comparable Price, in % 0 100 61 of which financial institutions 1,426 of which 1,245 Discounted cash flow Credit spread, in bp 32 1,764 592 Other intangible assets (mortgage servicing rights) 151 – – – – – Other assets 1,560 of which loans held-for-sale 1,355 of which 717 Discounted cash flow Credit spread, in bp 89 1,301 277 Recovery rate, in % 42 87 68 of which 323 Market comparable Price, in % 0 101 88 Total level 3 assets at fair value 15,000 1 Cash instruments are generally presented on a weighted average basis, while certain derivative instruments either contain a combination of weighted averages and arithmetic means of the related inputs or are presented on an arithmetic mean basis. 2 Estimate of the probability of structured notes being put back to the Bank at the option of the investor over the remaining life of the financial instruments. 3 Risk of unexpected large declines in the underlying values occuring between collateral settlement dates. Quantitative information about level 3 assets at fair value (continued) Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Securities received as collateral 46 – – – – – Debt 2,292 of which corporates 1,412 of which 387 Option model Correlation, in % (60) 98 55 of which 545 Market comparable Price, in % 0 139 84 of which 444 Discounted cash flow Credit spread, in bp 37 952 230 of which RMBS 320 Discounted cash flow Discount rate, in % 1 24 11 Prepayment rate, in % 1 36 10 Default rate, in % 0 12 4 Loss severity, in % 0 100 57 of which CMBS 16 Discounted cash flow Capitalization rate, in % 14 14 14 Discount rate, in % 8 16 14 Prepayment rate, in % 0 5 4 of which CDO 126 Discounted cash flow Discount rate, in % 5 13 8 Prepayment rate, in % 5 20 13 Credit spread, in bp 464 669 553 Default rate, in % 2 5 3 Loss severity, in % 0 80 34 Equity 163 of which 67 Vendor price Price, in actuals 0 2,080 10 of which 81 Market comparable EBITDA multiple 2 9 7 Price, in % 18 100 67 1 Cash instruments are generally presented on a weighted average basis, while certain derivative instruments either contain a combination of weighted averages and arithmetic means of the related inputs or are presented on an arithmetic mean basis. Quantitative information about level 3 assets at fair value (continued) Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Derivatives 3,289 of which interest rate products 801 Option model Correlation, in % 20 100 72 Prepayment rate, in % 6 34 17 Volatility skew, in % (4) 1 (1) of which equity/index-related products 833 Option model Correlation, in % (60) 98 65 Volatility, in % 0 105 64 Buyback probability, in % 2 50 100 90 Gap risk, in % 3 0 2 1 of which credit derivatives 634 Discounted cash flow Credit spread, in bp 1 956 217 Recovery rate, in % 0 45 20 Discount rate, in % 3 50 16 Default rate, in % 1 20 5 Loss severity, in % 1 100 64 Correlation, in % 97 97 97 Prepayment rate, in % 0 14 6 Other 3,010 of which 1,605 Market comparable Price, in % 0 110 23 of which 1,095 Discounted cash flow Market implied life expectancy, in years 3 18 8 Trading assets 8,754 Investment securities 42 – – – – – Private equity 29 – – – – – Other equity investments 271 – – – – – Life finance instruments 1,301 Discounted cash flow Market implied life expectancy, in years 2 18 6 Other investments 1,601 Loans 4,530 of which commercial and industrial loans 2,207 of which 1,924 Discounted cash flow Credit spread, in bp 89 1,116 420 of which 250 Market comparable Price, in % 0 99 56 of which financial institutions 1,480 of which 1,426 Discounted cash flow Credit spread, in bp 43 1,430 371 Other intangible assets (mortgage servicing rights) 158 – – – – – Other assets 1,511 of which loans held-for-sale 1,350 of which 849 Discounted cash flow Credit spread, in bp 117 973 292 Recovery rate, in % 18 87 73 of which 280 Market comparable Price, in % 0 102 88 Total level 3 assets at fair value 16,642 1 Cash instruments are generally presented on a weighted average basis, while certain derivative instruments either contain a combination of weighted averages and arithmetic means of the related inputs or are presented on an arithmetic mean basis. 2 Estimate of the probability of structured notes being put back to the Bank at the option of the investor over the remaining life of the financial instruments. 3 Risk of unexpected large declines in the underlying values occuring between collateral settlement dates. Quantitative information about level 3 liabilities at fair value Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Customer deposits 466 – – – – – Obligation to return securities received as collateral 9 – – – – – Trading liabilities 3,043 of which interest rate derivatives 230 of which 165 Option model Basis spread, in bp (31) 147 42 Correlation, in % 20 100 58 Prepayment rate, in % 1 25 7 of which foreign exchange derivatives 159 of which 59 Option model Correlation, in % (10) 70 52 Prepayment rate, in % 21 25 23 of which 31 Discounted cash flow Contingent probability, in % 95 95 95 Credit spread, in bp 267 473 426 47 Market comparable Price, in % 100 101 100 of which equity/index-related derivatives 1,129 of which 1,100 Option model Correlation, in % (60) 100 68 Volatility, in % 0 96 28 Buyback probability, in % 2 50 100 75 of which credit derivatives 900 of which 30 Option model Funding spread, in bp 68 68 68 of which 708 Discounted cash flow Credit spread, in bp 0 2,913 378 Discount rate, in % 2 28 15 Default rate, in % 2 20 4 Recovery rate, in % 20 60 34 Loss severity, in % 16 100 66 Correlation, in % 38 82 49 Funding spread, in % 1 2 2 Funding rate, in % 14 14 14 Prepayment rate, in % 0 20 6 of which 116 Market comparable Price, in % 59 94 79 Short-term borrowings 1,665 of which 1,410 Option model Correlation, in % (40) 100 70 Volatility, in % 3 96 27 of which 252 Discounted cash flow Credit spread, in bp (1) 517 65 Recovery rate, in % 20 49 33 Long-term debt 12,963 of which structured notes over two years 12,155 of which 9,647 Option model Correlation, in % (60) 100 61 Volatility, in % 0 96 23 Buyback probability, in % 2 50 100 75 Gap risk, in % 3 0 4 1 Mean reversion, in % 4 (110) (1) (7) of which 1,496 Discounted cash flow Credit spread, in bp (14) 2,260 98 Other liabilities 1,085 of which failed sales 99 of which 67 Market comparable Price, in % 0 101 52 Total level 3 liabilities at fair value 19,231 1 Cash instruments are generally presented on a weighted average basis, while certain derivative instruments either contain a combination of weighted averages and arithmetic means of the related inputs or are presented on an arithmetic mean basis. 2 Estimate of the probability of structured notes being put back to the Bank at the option of the investor over the remaining life of the financial instruments. 3 Risk of unexpected large declines in the underlying values between collateral settlement dates. 4 Management's best estimate of the speed at which interest rates will revert to the long-term average. Quantitative information about level 3 liabilities at fair value (continued) Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Customer deposits 455 – – – – – Obligation to return securities received as collateral 46 – – – – – Trading liabilities 3,226 of which interest rate derivatives 317 of which 205 Option model Basis spread, in bp (25) 52 19 Correlation, in % 20 100 60 Prepayment rate, in % 6 34 9 of which 81 Market comparable Price, in % 1 102 44 of which foreign exchange derivatives 100 of which 64 Option model Correlation, in % (10) 70 51 Prepayment rate, in % 27 34 30 of which 7 Discounted cash flow Contingent probability, in % 95 95 95 of which equity/index-related derivatives 1,301 of which 947 Option model Correlation, in % (60) 98 55 Volatility, in % 0 105 25 Buyback probability, in % 2 50 100 90 of which 62 Vendor price Price, in actuals 0 53 18 of which credit derivatives 898 Discounted cash flow Credit spread, in bp 2 973 172 Discount rate, in % 3 50 16 Default rate, in % 1 20 5 Recovery rate, in % 10 60 38 Loss severity, in % 25 100 67 Correlation, in % 38 85 54 Prepayment rate, in % 0 20 7 Term TRS/repo spread, in bp 176 176 176 Short-term borrowings 845 of which 288 Option model Correlation, in % (40) 98 60 Volatility, in % 4 105 26 of which 527 Discounted cash flow Credit spread, in bp 2 278 175 Recovery rate, in % 25 40 29 of which 24 Market comparable Price, in % 11 47 47 Long-term debt 12,501 of which structured notes over two years 12,259 of which 9,739 Option model Correlation, in % (60) 99 55 Volatility, in % 0 105 21 Buyback probability, in % 2 50 100 90 Gap risk, in % 3 0 2 1 Mean reversion, in % 4 (14) (1) (6) of which 1,571 Discounted cash flow Credit spread, in bp 2 729 105 Other liabilities 1,467 of which failed sales 223 of which 122 Market comparable Price, in % 0 100 51 of which 25 Discounted cash flow Credit spread, in bp 1,430 1,430 1,430 Total level 3 liabilities at fair value 18,540 1 Cash instruments are generally presented on a weighted average basis, while certain derivative instruments either contain a combination of weighted averages and arithmetic means of the related inputs or are presented on an arithmetic mean basis. 2 Estimate of the probability of structured notes being put back to the Bank at the option of the investor over the remaining life of the financial instruments. 3 Risk of unexpected large declines in the underlying values between collateral settlement dates. 4 Management's best estimate of the speed at which interest rates will revert to the long-term average. |
Own credit gains/(losses) on fair value option elected instruments recorded in AOCI | Own credit gains/(losses) on fair value option elected instruments recorded in AOCI 1 Gains/(losses) recorded 1 in 6M18 Cumulative 6M17 2 6M18 6M17 Financial instruments (CHF million) Deposits 15 (36) (8) 0 0 Short-term borrowings 0 (60) 0 2 0 Long-term debt 1,108 (1,286) (985) 32 (2) of which treasury debt over two years 418 (126) (332) 0 0 of which structured notes over two years 652 (1,180) (647) 32 (7) Total 1,123 (1,382) (993) 34 (2) 1 Amounts are reflected gross of tax. 2 Prior period has been corrected. |
Fair value, unfunded commitments and term of redemption conditions | Fair value, unfunded commitments and term of redemption conditions end of 6M18 2017 Unfunded Unfunded Fair value and unfunded commitments (CHF million) Debt funds 12 0 12 0 0 0 0 0 Equity funds 76 950 1 1,026 0 61 992 2 1,053 0 Equity funds sold short (1) (1) (2) 0 0 (9) (9) 0 Total funds held in trading assets and liabilities 87 949 1,036 0 61 983 1,044 0 Debt funds 87 34 121 0 164 75 239 0 Equity funds 14 15 29 0 2 53 55 0 Others 2 42 44 0 2 95 97 9 Hedge funds 103 91 3 194 0 168 223 4 391 9 Debt funds 1 0 1 0 1 0 1 0 Equity funds 139 0 139 45 133 0 133 63 Real estate funds 221 0 221 40 178 0 178 44 Others 34 4 38 21 31 0 31 16 Private equities 395 4 399 106 343 0 343 123 Equity method investments 57 1,026 1,083 25 71 1,050 1,121 5 Total funds held in other investments 555 1,121 1,676 131 582 1,273 1,855 137 Total fair value 642 5 2,070 6 2,712 131 7 643 5 2,256 6 2,899 137 7 1 55% of the redeemable fair value amount of equity funds is redeemable on demand with a notice period primarily of less than 30 days, 35% is redeemable on a monthly basis with a notice period primarily of less than 30 days, 8% is redeemable on a quarterly basis with a notice period primarily of more than 45 days, and 1% is redeemable on an annual basis with a notice period primarily of less than 30 days. 2 54% of the redeemable fair value amount of equity funds is redeemable on demand with a notice period primarily of less than 30 days, 35% is redeemable on a monthly basis with a notice period primarily of less than 30 days, 9% is redeemable on a quarterly basis with a notice period primarily of more than 45 days, and 2% is redeemable on an annual basis with a notice period primarily of more than 60 days. 3 68% of the redeemable fair value amount of hedge funds is redeemable on a quarterly basis with a notice period primarily of more than 60 days, 31% is redeemable on demand with a notice period primarily of less than 30 days, and 1% is redeemable on a monthly basis with a notice period primarily of more than 60 days. 4 51% of the redeemable fair value amount of hedge funds is redeemable on a quarterly basis with a notice period primarily of more than 45 days, 43% is redeemable on a monthly basis with a notice period primarily of less than 30 days and 6% is redeemable on demand with a notice period primarily of less than 30 days. 5 Includes CHF 141 million and CHF 229 million attributable to noncontrolling interests as of the end of 6M18 and 2017, respectively. 6 Includes CHF 18 million and CHF 167 million attributable to noncontrolling interests as of the end of 6M18 and 2017, respectively. 7 Includes CHF 27 million and CHF 53 million attributable to noncontrolling interests as of the end of 6M18 and 2017, respectively. |
Nonrecurring fair value changes | Nonrecurring fair value changes end of 6M18 2017 Assets held-for-sale recorded at fair value on a nonrecurring basis (CHF billion) Assets held-for-sale recorded at fair value on a nonrecurring basis 0.1 0.1 of which level 2 0.1 0.1 |
Fair Value, Option, Quantitative Disclosures [Table Text Block] | Difference between the aggregate fair value and the aggregate unpaid principal balances of loans and financial instruments end of 6M18 2017 Aggregate Aggregate Aggregate Aggregate Loans (CHF million) Non-interest-earning loans 639 3,454 (2,815) 708 3,375 (2,667) Financial instruments (CHF million) Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 75,706 75,595 111 77,498 76,643 855 Loans 15,711 16,161 (450) 15,307 15,372 (65) Other assets 1 9,102 11,635 (2,533) 8,468 10,910 (2,442) Due to banks and customer deposits (819) (756) (63) (907) (861) (46) Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions (9,457) (9,456) (1) (15,262) (15,180) (82) Short-term borrowings (11,675) (11,960) 285 (11,019) (11,104) 85 Long-term debt (61,272) (65,090) 3,818 (62,622) (62,813) 191 Other liabilities (564) (1,667) 1,103 (661) (1,716) 1,055 1 Primarily loans held-for-sale. Gains and losses on financial instruments in 6M18 6M17 Net Net Financial instruments (CHF million) Interest-bearing deposits with banks 4 1 7 1 of which related to credit risk (3) – Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 653 1 852 1 Other investments 200 2 130 2 of which related to credit risk (1) 2 Loans 288 1 841 1 of which related to credit risk (238) 39 Other assets 372 1 256 1 of which related to credit risk 88 23 Due to banks and customer deposits (2) 1 (7) 1 of which related to credit risk (12) 7 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions (38) 1 (37) 1 Short-term borrowings 1,968 2 (264) 2 of which related to credit risk 3 (2) – Long-term debt 1,799 2 (3,220) 2 of which related to credit risk 37 – Other liabilities 99 4 157 4 of which related to credit risk 15 109 1 Primarily recognized in net interest income. 2 Primarily recognized in trading revenues. 3 Changes in fair value related to credit risk are due to the change in the Bank's own credit spreads. Other changes in fair value are attributable to changes in foreign currency exchange rates and interest rates, as well as movements in the reference price or index for structured notes. 4 Primarily recognized in other revenues. |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Carrying value and fair value of financial instruments not carried at fair value Carrying end of Level 1 Level 2 Level 3 Total 6M18 (CHF million) Financial assets Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 41,911 0 41,912 0 41,912 Loans 273,792 0 276,239 5,137 281,376 Other financial assets 1 128,543 111,541 16,436 728 128,705 Financial liabilities Due to banks and deposits 382,714 202,219 180,451 0 382,670 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 10,429 19 10,412 0 10,431 Short-term borrowings 19,395 0 19,397 0 19,397 Long-term debt 103,838 0 104,161 418 104,579 Other financial liabilities 2 17,970 3 17,938 137 18,078 2017 (CHF million) Financial assets Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 37,848 0 37,848 0 37,848 Loans 264,181 0 268,380 3,212 271,592 Other financial assets 3 170,687 109,414 60,518 1,108 171,040 Financial liabilities Due to banks and deposits 374,006 202,164 171,831 0 373,995 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 11,233 0 11,233 0 11,233 Short-term borrowings 15,359 0 15,359 0 15,359 Long-term debt 109,420 0 112,564 235 112,799 Other financial liabilities 4 61,701 0 61,543 146 61,689 1 Primarily includes cash and due from banks, interest-bearing deposits with banks, loans held-for-sale, cash collateral on derivative instruments, interest and fee receivables and non-marketable equity securities. 2 Primarily includes cash collateral on derivative instruments and interest and fee payables. 3 Primarily includes cash and due from banks, interest-bearing deposits with banks, brokerage receivables, loans held-for-sale, cash collateral on derivative instruments, interest and fee receivables and non-marketable equity securities. 4 Primarily includes brokerage payables, cash collateral on derivative instruments and interest and fee payables. |
Assets pledged and collateral (
Assets pledged and collateral (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Assets pledged and collateral | Assets pledged end of 2Q18 4Q17 Assets pledged (CHF million) Total assets pledged or assigned as collateral 122,349 130,038 of which encumbered 61,237 73,189 |
Fair value of collateral received with the right to sell or repledge | Collateral end of 2Q18 4Q17 Collateral (CHF million) Fair value of collateral received with the right to sell or repledge 456,723 433,190 of which sold or repledged 211,771 212,155 |
Bank | |
Assets pledged and collateral | Assets pledged end of 6M18 2017 Assets pledged (CHF million) Total assets pledged or assigned as collateral 122,349 130,038 of which encumbered 61,237 73,189 |
Fair value of collateral received with the right to sell or repledge | Collateral end of 6M18 2017 Collateral (CHF million) Fair value of collateral received with the right to sell or repledge 456,723 433,190 of which sold or repledged 211,771 212,155 |
Subsidiary guarantee informat70
Subsidiary guarantee information (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Subsidiary guarantee information | |
Condensed Financial Statements [Table Text Block] | Condensed consolidating statements of operations Bank 1 Condensed consolidating statements of operations (CHF million) Interest and dividend income 1,048 4,046 5,094 202 (206) 5,090 Interest expense (1,081) (2,386) (3,467) (215) 185 (3,497) Net interest income (33) 1,660 1,627 (13) (21) 1,593 Commissions and fees 924 2,196 3,120 7 32 3,159 Trading revenues 177 357 534 (23) 17 528 Other revenues 417 (87) 330 696 2 (711) 315 Net revenues 1,485 4,126 5,611 667 (683) 5,595 Provision for credit losses 1 72 73 0 0 73 Compensation and benefits 741 1,612 2,353 15 179 2,547 General and administrative expenses 463 1,272 1,735 4 (319) 1,420 Commission expenses 58 270 328 0 0 328 Restructuring expenses 89 56 145 0 30 175 Total other operating expenses 610 1,598 2,208 4 (289) 1,923 Total operating expenses 1,351 3,210 4,561 19 (110) 4,470 Income/(loss) before taxes 133 844 977 648 (573) 1,052 Income tax expense 24 306 330 1 67 398 Net income/(loss) 109 538 647 647 (640) 654 Net income/(loss) attributable to noncontrolling interests 4 5 9 0 (2) 7 Net income/(loss) attributable to shareholders 105 533 638 647 (638) 647 1 Includes eliminations and consolidation adjustments. 2 Primarily consists of revenues from investments in Group companies accounted for under the equity method. Condensed consolidating statements of comprehensive income Bank 1 Comprehensive income (CHF million) Net income/(loss) 109 538 647 647 (640) 654 Gains/(losses) on cash flow hedges 0 (7) (7) (3) 0 (10) Foreign currency translation 596 (39) 557 1 7 565 Unrealized gains/(losses) on securities 0 (8) (8) 0 0 (8) Actuarial gains/(losses) 7 4 11 0 62 73 Net prior service credit/(cost) 0 0 0 0 (29) (29) Gains/(losses) on liabilities related to credit risk 30 643 673 43 45 761 Other comprehensive income/(loss), net of tax 633 593 1,226 41 85 1,352 Comprehensive income/(loss) 742 1,131 1,873 688 (555) 2,006 Comprehensive income/(loss) attributable to noncontrolling interests 8 29 37 0 (25) 12 Comprehensive income/(loss) attributable to shareholders 734 1,102 1,836 688 (530) 1,994 1 Includes eliminations and consolidation adjustments. Condensed consolidating statements of operations (continued) Bank 1 Condensed consolidating statements of operations (CHF million) Interest and dividend income 1,350 3,252 4,602 138 (138) 4,602 Interest expense (1,095) (1,762) (2,857) (151) 143 (2,865) Net interest income 255 1,490 1,745 (13) 5 1,737 Commissions and fees 862 2,007 2,869 7 29 2,905 Trading revenues 21 228 249 (1) (11) 237 Other revenues 226 129 355 321 2 (350) 326 Net revenues 1,364 3,854 5,218 314 (327) 5,205 Provision for credit losses 2 80 82 0 0 82 Compensation and benefits 762 1,815 2,577 19 (1) 2,595 General and administrative expenses 421 1,198 1,619 (12) (80) 1,527 Commission expenses 60 290 350 0 0 350 Restructuring expenses 37 24 61 0 8 69 Total other operating expenses 518 1,512 2,030 (12) (72) 1,946 Total operating expenses 1,280 3,327 4,607 7 (73) 4,541 Income/(loss) before taxes 82 447 529 307 (254) 582 Income tax expense/(benefit) 126 163 289 4 (17) 276 Net income/(loss) (44) 284 240 303 (237) 306 Net income/(loss) attributable to noncontrolling interests 33 (33) 0 0 3 3 Net income/(loss) attributable to shareholders (77) 317 240 303 (240) 303 1 Includes eliminations and consolidation adjustments. 2 Primarily consists of revenues from investments in Group companies accounted for under the equity method. Condensed consolidating statements of comprehensive income (continued) Bank 1 Comprehensive income (CHF million) Net income/(loss) (44) 284 240 303 (237) 306 Gains/(losses) on cash flow hedges 0 8 8 2 0 10 Foreign currency translation (709) (379) (1,088) 0 (13) (1,101) Unrealized gains/(losses) on securities 0 (5) (5) 0 0 (5) Actuarial gains/(losses) 4 9 13 0 69 82 Net prior service credit/(cost) 0 0 0 0 (28) (28) Gains/(losses) on liabilities related to credit risk (6) (556) (562) (26) (42) (630) Other comprehensive income/(loss), net of tax (711) (923) (1,634) (24) (14) (1,672) Comprehensive income/(loss) (755) (639) (1,394) 279 (251) (1,366) Comprehensive income/(loss) attributable to noncontrolling interests 40 (73) (33) 0 30 (3) Comprehensive income/(loss) attributable to shareholders (795) (566) (1,361) 279 (281) (1,363) 1 Includes eliminations and consolidation adjustments. Condensed consolidating statements of operations (continued) Bank 1 Condensed consolidating statements of operations (CHF million) Interest and dividend income 1,996 7,550 9,546 384 (389) 9,541 Interest expense (2,070) (4,233) (6,303) (410) 350 (6,363) Net interest income (74) 3,317 3,243 (26) (39) 3,178 Commissions and fees 1,827 4,299 6,126 14 65 6,205 Trading revenues 461 587 1,048 9 49 1,106 Other revenues 726 53 779 1,375 2 (1,412) 742 Net revenues 2,940 8,256 11,196 1,372 (1,337) 11,231 Provision for credit losses 1 120 121 0 0 121 Compensation and benefits 1,444 3,257 4,701 32 352 5,085 General and administrative expenses 881 2,677 3,558 (2) (628) 2,928 Commission expenses 124 548 672 0 0 672 Restructuring expenses 149 108 257 0 62 319 Total other operating expenses 1,154 3,333 4,487 (2) (566) 3,919 Total operating expenses 2,598 6,590 9,188 30 (214) 9,004 Income/(loss) before taxes 341 1,546 1,887 1,342 (1,123) 2,106 Income tax expense 63 566 629 1 130 760 Net income/(loss) 278 980 1,258 1,341 (1,253) 1,346 Net income/(loss) attributable to noncontrolling interests 4 5 9 0 (4) 5 Net income/(loss) attributable to shareholders 274 975 1,249 1,341 (1,249) 1,341 1 Includes eliminations and consolidation adjustments. 2 Primarily consists of revenues from investments in Group companies accounted for under the equity method. Condensed consolidating statements of comprehensive income (continued) Bank 1 Comprehensive income (CHF million) Net income/(loss) 278 980 1,258 1,341 (1,253) 1,346 Gains/(losses) on cash flow hedges 0 (43) (43) 0 0 (43) Foreign currency translation 236 (174) 62 1 0 63 Unrealized gains/(losses) on securities 0 (13) (13) 0 (1) (14) Actuarial gains/(losses) 6 9 15 0 138 153 Net prior service credit/(cost) 0 0 0 0 (60) (60) Gains/(losses) on liabilities related to credit risk 23 968 991 77 84 1,152 Other comprehensive income/(loss), net of tax 265 747 1,012 78 161 1,251 Comprehensive income/(loss) 543 1,727 2,270 1,419 (1,092) 2,597 Comprehensive income/(loss) attributable to noncontrolling interests 5 11 16 0 (15) 1 Comprehensive income/(loss) attributable to shareholders 538 1,716 2,254 1,419 (1,077) 2,596 1 Includes eliminations and consolidation adjustments. Condensed consolidating statements of operations (continued) Bank 1 Condensed consolidating statements of operations (CHF million) Interest and dividend income 2,611 6,034 8,645 265 (266) 8,644 Interest expense (2,072) (3,133) (5,205) (291) 222 (5,274) Net interest income 539 2,901 3,440 (26) (44) 3,370 Commissions and fees 1,901 3,973 5,874 14 63 5,951 Trading revenues 102 672 774 (4) 41 811 Other revenues 443 209 652 917 2 (962) 607 Net revenues 2,985 7,755 10,740 901 (902) 10,739 Provision for credit losses 4 131 135 0 0 135 Compensation and benefits 1,587 3,701 5,288 35 (23) 5,300 General and administrative expenses 894 2,398 3,292 (34) (130) 3,128 Commission expenses 129 589 718 0 0 718 Restructuring expenses 66 89 155 0 51 206 Total other operating expenses 1,089 3,076 4,165 (34) (79) 4,052 Total operating expenses 2,676 6,777 9,453 1 (102) 9,352 Income/(loss) before taxes 305 847 1,152 900 (800) 1,252 Income tax expense/(benefit) 109 277 386 1 (33) 354 Net income/(loss) 196 570 766 899 (767) 898 Net income/(loss) attributable to noncontrolling interests (9) 7 (2) 0 1 (1) Net income/(loss) attributable to shareholders 205 563 768 899 (768) 899 1 Includes eliminations and consolidation adjustments. 2 Primarily consists of revenues from investments in Group companies accounted for under the equity method. Condensed consolidating statements of comprehensive income (continued) Bank 1 Comprehensive income (CHF million) Net income/(loss) 196 570 766 899 (767) 898 Gains/(losses) on cash flow hedges 0 2 2 4 0 6 Foreign currency translation (1,074) (502) (1,576) (1) (24) (1,601) Unrealized gains/(losses) on securities 0 (7) (7) 0 0 (7) Actuarial gains/(losses) 8 17 25 0 160 185 Net prior service credit/(cost) 0 0 0 0 (67) (67) Gains/(losses) on liabilities related to credit risk (22) (903) (925) (150) (68) (1,143) Other comprehensive income/(loss), net of tax (1,088) (1,393) (2,481) (147) 1 (2,627) Comprehensive income/(loss) (892) (823) (1,715) 752 (766) (1,729) Comprehensive income/(loss) attributable to noncontrolling interests 1 (54) (53) 0 42 (11) Comprehensive income/(loss) attributable to shareholders (893) (769) (1,662) 752 (808) (1,718) 1 Includes eliminations and consolidation adjustments. Condensed consolidating balance sheets Bank 1 Assets (CHF million) Cash and due from banks 2,984 108,652 111,636 266 611 112,513 Interest-bearing deposits with banks 22 995 1,017 501 (496) 1,022 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 57,626 59,991 117,617 0 0 117,617 Securities received as collateral 4,496 41,026 45,522 0 0 45,522 Trading assets 24,408 111,379 135,787 0 (201) 135,586 Investment securities 265 2,064 2,329 19,904 (19,902) 2,331 Other investments 886 4,668 5,554 47,512 (47,440) 5,626 Net loans 12,497 280,681 293,178 0 (5,518) 287,660 Premises and equipment 1,047 3,485 4,532 0 299 4,831 Goodwill 733 3,352 4,085 0 712 4,797 Other intangible assets 189 23 212 0 0 212 Brokerage receivables 21,680 23,452 45,132 0 0 45,132 Other assets 10,709 23,318 34,027 513 769 35,309 Total assets 137,542 663,086 800,628 68,696 (71,166) 798,158 Liabilities and equity (CHF million) Due to banks 99 17,353 17,452 1,277 (1,270) 17,459 Customer deposits 1 368,838 368,839 0 (1,431) 367,408 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 16,831 3,055 19,886 0 0 19,886 Obligation to return securities received as collateral 4,496 41,026 45,522 0 0 45,522 Trading liabilities 9,740 33,039 42,779 0 (3) 42,776 Short-term borrowings 8,808 22,262 31,070 0 (497) 30,573 Long-term debt 54,159 110,951 165,110 23,560 (22,709) 165,961 Brokerage payables 18,468 15,982 34,450 0 0 34,450 Other liabilities 9,462 20,976 30,438 389 (313) 30,514 Total liabilities 122,064 633,482 755,546 25,226 (26,223) 754,549 Total shareholders' equity 15,381 28,958 44,339 43,470 (44,339) 43,470 Noncontrolling interests 97 646 743 0 (604) 139 Total equity 15,478 29,604 45,082 43,470 (44,943) 43,609 Total liabilities and equity 137,542 663,086 800,628 68,696 (71,166) 798,158 1 Includes eliminations and consolidation adjustments. Condensed consolidating balance sheets (continued) Bank 1 Assets (CHF million) Cash and due from banks 3,058 106,452 109,510 516 (211) 109,815 Interest-bearing deposits with banks 32 689 721 493 (488) 726 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 58,212 57,134 115,346 0 0 115,346 Securities received as collateral 5,422 32,652 38,074 0 0 38,074 Trading assets 24,602 132,172 156,774 0 (440) 156,334 Investment securities 245 1,944 2,189 15,612 (15,610) 2,191 Other investments 902 4,991 5,893 45,517 (45,446) 5,964 Net loans 12,456 270,781 283,237 0 (4,088) 279,149 Premises and equipment 1,001 3,444 4,445 0 241 4,686 Goodwill 722 3,314 4,036 0 706 4,742 Other intangible assets 195 28 223 0 0 223 Brokerage receivables 19,717 27,251 46,968 0 0 46,968 Other assets 11,217 19,739 30,956 389 726 32,071 Total assets 137,781 660,591 798,372 62,527 (64,610) 796,289 Liabilities and equity (CHF million) Due to banks 270 15,141 15,411 755 (753) 15,413 Customer deposits 1 362,302 362,303 0 (1,141) 361,162 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 15,352 11,144 26,496 0 0 26,496 Obligation to return securities received as collateral 5,422 32,652 38,074 0 0 38,074 Trading liabilities 6,549 32,583 39,132 0 (13) 39,119 Short-term borrowings 12,224 14,154 26,378 0 (489) 25,889 Long-term debt 50,396 121,646 172,042 19,357 (18,367) 173,032 Brokerage payables 21,585 21,718 43,303 0 0 43,303 Other liabilities 10,454 21,229 31,683 513 (584) 31,612 Total liabilities 122,253 632,569 754,822 20,625 (21,347) 754,100 Total shareholders' equity 15,409 27,261 42,670 41,902 (42,670) 41,902 Noncontrolling interests 119 761 880 0 (593) 287 Total equity 15,528 28,022 43,550 41,902 (43,263) 42,189 Total liabilities and equity 137,781 660,591 798,372 62,527 (64,610) 796,289 1 Includes eliminations and consolidation adjustments. Condensed consolidating statements of cash flows Bank 1 Operating activities of continuing operations (CHF million) Net cash provided by/(used in) operating activities of continuing operations (1,907) 13,692 11,785 (130) 2 156 11,811 Investing activities of continuing operations (CHF million) (Increase)/decrease in interest-bearing deposits with banks 11 (310) (299) (8) 8 (299) (Increase)/decrease in central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 1,462 (2,425) (963) 0 0 (963) Purchase of investment securities 0 (379) (379) (4,846) 4,846 (379) Proceeds from sale of investment securities 0 255 255 0 0 255 Maturities of investment securities 180 131 311 0 0 311 Investments in subsidiaries and other investments (85) (221) (306) (5) 5 (306) Proceeds from sale of other investments 168 474 642 4 (9) 637 (Increase)/decrease in loans 151 (12,169) (12,018) 0 1,416 (10,602) Proceeds from sales of loans 0 3,903 3,903 0 0 3,903 Capital expenditures for premises and equipment and other intangible assets (133) (343) (476) 0 (53) (529) Proceeds from sale of premises and equipment and other intangible assets 0 80 80 0 (51) 29 Other, net 3 201 204 0 0 204 Net cash provided by/(used in) investing activities of continuing operations 1,757 (10,803) (9,046) (4,855) 6,162 (7,739) Financing activities of continuing operations (CHF million) Increase/(decrease) in due to banks and customer deposits (171) 6,811 6,640 522 (803) 6,359 Increase/(decrease) in short-term borrowings (2,189) 6,649 4,460 0 (8) 4,452 Increase/(decrease) in central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 1,206 (7,974) (6,768) 0 0 (6,768) Issuances of long-term debt 7,734 8,299 16,033 4,622 (4,744) 15,911 Repayments of long-term debt (6,104) (14,436) (20,540) 0 0 (20,540) Sale of treasury shares 0 0 0 0 6,175 6,175 Repurchase of treasury shares 0 0 0 (757) (6,142) (6,899) Dividends paid (1) (13) (14) (661) 10 (665) Other, net (448) (462) (910) 1,009 25 124 Net cash provided by/(used in) financing activities of continuing operations 27 (1,126) (1,099) 4,735 (5,487) (1,851) Effect of exchange rate changes on cash and due from banks (CHF million) Effect of exchange rate changes on cash and due from banks 49 437 486 0 (9) 477 Net increase/(decrease) in cash and due from banks (CHF million) Net increase/(decrease) in cash and due from banks (74) 2,200 2,126 (250) 822 2,698 Cash and due from banks at beginning of period 3 3,058 106,452 109,510 516 (211) 109,815 Cash and due from banks at end of period 3 2,984 108,652 111,636 266 611 112,513 1 Includes eliminations and consolidation adjustments. 2 Consists of dividend payments from Group companies of CHF 10 million and CHF 6 million from bank and non-bank subsidiaries, respectively, and other cash items from parent company operations such as Group financing. 3 Includes restricted cash. Condensed consolidating statements of cash flows (continued) Bank 1 Operating activities of continuing operations (CHF million) Net cash provided by/(used in) operating activities of continuing operations (7,549) 6,351 (1,198) (1,063) 2 29 (2,232) Investing activities of continuing operations (CHF million) (Increase)/decrease in interest-bearing deposits with banks 0 126 126 0 0 126 (Increase)/decrease in central bank funds sold, securities purchased under resale agreements and securities borrowing transactions (1,301) (1,029) (2,330) 0 0 (2,330) Purchase of investment securities 0 (44) (44) (1,677) 1,677 (44) Proceeds from sale of investment securities 0 7 7 0 0 7 Maturities of investment securities 76 116 192 0 0 192 Investments in subsidiaries and other investments (160) (727) (887) (4,101) 4,101 (887) Proceeds from sale of other investments 243 588 831 0 0 831 (Increase)/decrease in loans (216) (5,520) (5,736) (3,725) 4,253 (5,208) Proceeds from sales of loans 0 3,785 3,785 0 0 3,785 Capital expenditures for premises and equipment and other intangible assets (117) (355) (472) 0 (1) (473) Proceeds from sale of premises and equipment and other intangible assets 1 50 51 0 (50) 1 Other, net 30 23 53 0 0 53 Net cash provided by/(used in) investing activities of continuing operations (1,444) (2,980) (4,424) (9,503) 9,980 (3,947) Financing activities of continuing operations (CHF million) Increase/(decrease) in due to banks and customer deposits 52 4,177 4,229 259 (264) 4,224 Increase/(decrease) in short-term borrowings 615 2,102 2,717 0 0 2,717 Increase/(decrease) in central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 734 (1,212) (478) 0 0 (478) Issuances of long-term debt 15,419 7,279 22,698 5,719 (5,691) 22,726 Repayments of long-term debt (7,375) (28,271) (35,646) 0 90 (35,556) Issuances of common shares 0 0 0 4,253 0 4,253 Sale of treasury shares 0 0 0 0 5,834 5,834 Repurchase of treasury shares 0 0 0 (565) (5,880) (6,445) Dividends paid (8) (4) (12) (584) 8 (588) Other, net (287) 3,807 3,520 592 (3,842) 270 Net cash provided by/(used in) financing activities of continuing operations 9,150 (12,122) (2,972) 9,674 (9,745) (3,043) Effect of exchange rate changes on cash and due from banks (CHF million) Effect of exchange rate changes on cash and due from banks (166) (2,140) (2,306) 700 (1) (1,607) Net increase/(decrease) in cash and due from banks (CHF million) Net increase/(decrease) in cash and due from banks (9) (10,891) (10,900) (192) 263 (10,829) Cash and due from banks at beginning of period 3 2,491 118,575 121,066 938 (843) 121,161 Cash and due from banks at end of period 3 2,482 107,684 110,166 746 (580) 110,332 1 Includes eliminations and consolidation adjustments. 2 Consists of dividend payments from Group companies of CHF 10 million and CHF 8 million from bank and non-bank subsidiaries, respectively, and other cash items from parent company operations such as Group financing. 3 Includes restricted cash. |
Recently issued accounting st71
Recently issued accounting standards (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||||
Jun. 30, 2018 | Mar. 31, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | Jan. 01, 2018 | Jan. 01, 2016 | |
New Accounting Pronouncement or Change in Accounting Principle, Retrospective Adjustments [Abstract] | |||||||||
Net revenues | SFr 5,595 | SFr 5,636 | SFr 5,205 | SFr 11,231 | SFr 10,739 | ||||
Total operating expenses | 4,470 | 4,534 | 4,541 | 9,004 | 9,352 | ||||
Compensation and benefits | 2,547 | 2,538 | 2,595 | 5,085 | 5,300 | ||||
General and administrative expenses | 1,420 | 1,508 | 1,527 | 2,928 | 3,128 | ||||
Retained Earnings (Accumulated Deficit) | 26,290 | 25,643 | 26,290 | SFr 24,973 | |||||
Accumulated Other Comprehensive Income (Loss), Net of Tax | (17,504) | SFr (18,851) | (17,504) | (18,738) | |||||
Accounting Standards Update 2014-09 [Member] | |||||||||
New Accounting Pronouncement or Change in Accounting Principle, Retrospective Adjustments [Abstract] | |||||||||
Net revenues | 200 | ||||||||
Net revenues, change in presentation, gross to net - decrease | (100) | ||||||||
Total operating expenses | 200 | ||||||||
Total operating expenses, change in presentation, gross to net - decrease | (100) | ||||||||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | SFr (45) | ||||||||
Accounting Standards Update 2016-01 [Member] | |||||||||
New Accounting Pronouncement or Change in Accounting Principle, Retrospective Adjustments [Abstract] | |||||||||
Retained Earnings (Accumulated Deficit) | 21 | ||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax | (21) | ||||||||
Accounting Standards Update 2016-01 [Member] | Adjustments for New Accounting Principle, Early Adoption [Member] | |||||||||
New Accounting Pronouncement or Change in Accounting Principle, Retrospective Adjustments [Abstract] | |||||||||
Retained Earnings (Accumulated Deficit) | SFr (475) | ||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax | SFr 475 | ||||||||
Accounting Standards Update 2016-18 [Member] | |||||||||
New Accounting Pronouncement or Change in Accounting Principle, Retrospective Adjustments [Abstract] | |||||||||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | SFr 0 | ||||||||
Accounting Standards Update 2017-07 [Member] | |||||||||
New Accounting Pronouncement or Change in Accounting Principle, Retrospective Adjustments [Abstract] | |||||||||
Compensation and benefits | 190 | SFr 80 | |||||||
General and administrative expenses | (190) | SFr (80) | |||||||
Bank | |||||||||
New Accounting Pronouncement or Change in Accounting Principle, Retrospective Adjustments [Abstract] | |||||||||
Net revenues | 5,611 | 5,218 | 11,196 | 10,740 | |||||
Total operating expenses | 4,561 | 4,607 | 9,188 | 9,453 | |||||
Compensation and benefits | 2,353 | 2,577 | 4,701 | 5,288 | |||||
General and administrative expenses | 1,735 | SFr 1,619 | 3,558 | SFr 3,292 | |||||
Retained Earnings (Accumulated Deficit) | 9,700 | 9,700 | 8,484 | ||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax | SFr (14,949) | SFr (14,949) | SFr (15,932) |
Segment information - Income st
Segment information - Income statement related (Details) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2018CHF (SFr)BusinessDivision | Mar. 31, 2018CHF (SFr) | Jun. 30, 2017CHF (SFr) | Jun. 30, 2018CHF (SFr) | Jun. 30, 2017CHF (SFr) | |
Segment Reporting Information | |||||
Net revenues | SFr 5,595 | SFr 5,636 | SFr 5,205 | SFr 11,231 | SFr 10,739 |
Number of segments | BusinessDivision | 6 | ||||
Income/(loss) before taxes | SFr 1,052 | 1,054 | 582 | 2,106 | 1,252 |
Operating Segments [Member] | Swiss Universal Bank | |||||
Segment Reporting Information | |||||
Net revenues | 1,419 | 1,431 | 1,405 | 2,850 | 2,759 |
Income/(loss) before taxes | 553 | 563 | 502 | 1,116 | 906 |
Operating Segments [Member] | International Wealth Management | |||||
Segment Reporting Information | |||||
Net revenues | 1,344 | 1,403 | 1,264 | 2,747 | 2,485 |
Income/(loss) before taxes | 433 | 484 | 365 | 917 | 656 |
Operating Segments [Member] | Asia Pacific | |||||
Segment Reporting Information | |||||
Net revenues | 914 | 991 | 848 | 1,905 | 1,729 |
Income/(loss) before taxes | 217 | 234 | 188 | 451 | 335 |
Operating Segments [Member] | Global Markets | |||||
Segment Reporting Information | |||||
Net revenues | 1,426 | 1,546 | 1,517 | 2,972 | 3,126 |
Income/(loss) before taxes | 148 | 295 | 257 | 443 | 574 |
Operating Segments [Member] | Investment Banking & Capital Markets | |||||
Segment Reporting Information | |||||
Net revenues | 644 | 528 | 511 | 1,172 | 1,117 |
Income/(loss) before taxes | 110 | 59 | 78 | 169 | 227 |
Operating Segments [Member] | Strategic Resolution Unit | |||||
Segment Reporting Information | |||||
Net revenues | (176) | (203) | (274) | (379) | (480) |
Income/(loss) before taxes | (368) | (409) | (563) | (777) | (1,102) |
Corporate Center | |||||
Segment Reporting Information | |||||
Net revenues | 24 | (60) | (66) | (36) | 3 |
Income/(loss) before taxes | (41) | SFr (172) | (245) | (213) | (344) |
Bank | |||||
Segment Reporting Information | |||||
Net revenues | 5,611 | 5,218 | 11,196 | 10,740 | |
Income/(loss) before taxes | SFr 977 | SFr 529 | 1,887 | 1,152 | |
Bank | Operating Segments [Member] | Swiss Universal Bank | |||||
Segment Reporting Information | |||||
Net revenues | 2,850 | 2,759 | |||
Income/(loss) before taxes | 1,116 | 906 | |||
Bank | Operating Segments [Member] | International Wealth Management | |||||
Segment Reporting Information | |||||
Net revenues | 2,747 | 2,485 | |||
Income/(loss) before taxes | 917 | 656 | |||
Bank | Operating Segments [Member] | Asia Pacific | |||||
Segment Reporting Information | |||||
Net revenues | 1,905 | 1,729 | |||
Income/(loss) before taxes | 451 | 335 | |||
Bank | Operating Segments [Member] | Global Markets | |||||
Segment Reporting Information | |||||
Net revenues | 2,972 | 3,126 | |||
Income/(loss) before taxes | 443 | 574 | |||
Bank | Operating Segments [Member] | Investment Banking & Capital Markets | |||||
Segment Reporting Information | |||||
Net revenues | 1,172 | 1,117 | |||
Income/(loss) before taxes | 169 | 227 | |||
Bank | Operating Segments [Member] | Strategic Resolution Unit | |||||
Segment Reporting Information | |||||
Net revenues | (379) | (480) | |||
Income/(loss) before taxes | (777) | (1,102) | |||
Bank | Adjustments | |||||
Segment Reporting Information | |||||
Net revenues | (71) | 4 | |||
Income/(loss) before taxes | SFr (432) | SFr (444) |
Segment information - Balance s
Segment information - Balance sheet related (Details 2) - CHF (SFr) SFr in Millions | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 |
Segment Reporting Information | |||
Total assets | SFr 798,158 | SFr 809,052 | SFr 796,289 |
Operating Segments | Swiss Universal Bank | |||
Segment Reporting Information | |||
Total assets | 220,030 | 217,179 | 228,857 |
Operating Segments | International Wealth Management | |||
Segment Reporting Information | |||
Total assets | 92,622 | 89,313 | 94,753 |
Operating Segments | Asia Pacific | |||
Segment Reporting Information | |||
Total assets | 109,336 | 107,851 | 96,497 |
Operating Segments | Global Markets | |||
Segment Reporting Information | |||
Total assets | 228,941 | 239,432 | 242,159 |
Operating Segments | Investment Banking & Capital Markets | |||
Segment Reporting Information | |||
Total assets | 18,546 | 15,380 | 20,803 |
Operating Segments | Strategic Resolution Unit | |||
Segment Reporting Information | |||
Total assets | 27,439 | 30,163 | 45,629 |
Corporate Center | |||
Segment Reporting Information | |||
Total assets | 101,244 | SFr 109,734 | 67,591 |
Bank | |||
Segment Reporting Information | |||
Total assets | 800,628 | 798,372 | |
Bank | Operating Segments | Swiss Universal Bank | |||
Segment Reporting Information | |||
Total assets | 220,030 | 228,857 | |
Bank | Operating Segments | International Wealth Management | |||
Segment Reporting Information | |||
Total assets | 92,622 | 94,753 | |
Bank | Operating Segments | Asia Pacific | |||
Segment Reporting Information | |||
Total assets | 109,336 | 96,497 | |
Bank | Operating Segments | Global Markets | |||
Segment Reporting Information | |||
Total assets | 228,941 | 242,159 | |
Bank | Operating Segments | Investment Banking & Capital Markets | |||
Segment Reporting Information | |||
Total assets | 18,546 | 20,803 | |
Bank | Operating Segments | Strategic Resolution Unit | |||
Segment Reporting Information | |||
Total assets | 27,439 | 45,629 | |
Bank | Adjustments | |||
Segment Reporting Information | |||
Total assets | SFr 103,714 | SFr 69,674 |
Net interest income (Details)
Net interest income (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 | |
Net interest income | |||||
Loans | SFr 1,679 | SFr 1,603 | SFr 1,447 | SFr 3,282 | SFr 2,907 |
Investment securities | 20 | 10 | 12 | 30 | 23 |
Trading assets | 1,968 | 1,572 | 2,040 | 3,540 | 3,658 |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 706 | 657 | 632 | 1,363 | 1,239 |
Other | 717 | 609 | 471 | 1,326 | 817 |
Interest and dividend income | 5,090 | 4,451 | 4,602 | 9,541 | 8,644 |
Deposits | (587) | (450) | (328) | (1,037) | (633) |
Short-term borrowings | (123) | (82) | (40) | (205) | (73) |
Trading liabilities | (1,144) | (860) | (1,178) | (2,004) | (1,966) |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (477) | (399) | (324) | (876) | (577) |
Long-term debt | (982) | (910) | (893) | (1,892) | (1,846) |
Other | (184) | (165) | (102) | (349) | (179) |
Interest expense | (3,497) | (2,866) | (2,865) | (6,363) | (5,274) |
Net interest income | 1,593 | SFr 1,585 | 1,737 | 3,178 | 3,370 |
Bank | |||||
Net interest income | |||||
Loans | 3,285 | 2,907 | |||
Investment securities | 30 | 23 | |||
Trading assets | 3,540 | 3,659 | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 1,363 | 1,239 | |||
Other | 1,328 | 817 | |||
Interest and dividend income | 5,094 | 4,602 | 9,546 | 8,645 | |
Deposits | (1,038) | (638) | |||
Short-term borrowings | (210) | (73) | |||
Trading liabilities | (2,004) | (1,969) | |||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (876) | (577) | |||
Long-term debt | (1,828) | (1,771) | |||
Other | (347) | (177) | |||
Interest expense | (3,467) | (2,857) | (6,303) | (5,205) | |
Net interest income | SFr 1,627 | SFr 1,745 | SFr 3,243 | SFr 3,440 |
Commissions and fees (Details)
Commissions and fees (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 | |
Commissions and fees | |||||
Lending business | SFr 529 | SFr 470 | SFr 484 | SFr 999 | SFr 948 |
Investment and portfolio management | 896 | 892 | 841 | 1,788 | 1,663 |
Other securities business | 11 | 12 | 12 | 23 | 22 |
Fiduciary business | 907 | 904 | 853 | 1,811 | 1,685 |
Underwriting | 513 | 470 | 441 | 983 | 938 |
Brokerage | 745 | 810 | 757 | 1,555 | 1,562 |
Underwriting and brokerage | 1,258 | 1,280 | 1,198 | 2,538 | 2,500 |
Other services | 465 | 392 | 370 | 857 | 818 |
Commissions and fees | 3,159 | SFr 3,046 | 2,905 | 6,205 | 5,951 |
Bank | |||||
Commissions and fees | |||||
Lending business | 984 | 933 | |||
Investment and portfolio management | 1,693 | 1,566 | |||
Other securities business | 44 | 39 | |||
Fiduciary business | 1,737 | 1,605 | |||
Underwriting | 983 | 948 | |||
Brokerage | 1,556 | 1,562 | |||
Underwriting and brokerage | 2,539 | 2,510 | |||
Other services | 866 | 826 | |||
Commissions and fees | SFr 3,120 | SFr 2,869 | SFr 6,126 | SFr 5,874 |
Trading revenues (Details)
Trading revenues (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 | |
Trading revenues | |||||
Trading revenues | SFr 528 | SFr 578 | SFr 237 | SFr 1,106 | SFr 811 |
Interest rate products | |||||
Trading revenues | |||||
Trading revenues | (301) | 857 | 587 | 556 | 1,963 |
Foreign exchange products | |||||
Trading revenues | |||||
Trading revenues | (31) | 184 | 703 | 153 | 1,237 |
Equity/index-related products | |||||
Trading revenues | |||||
Trading revenues | 723 | (327) | (953) | 396 | (1,871) |
Credit products | |||||
Trading revenues | |||||
Trading revenues | 65 | 34 | (143) | 99 | (581) |
Commodity, emission and energy products | |||||
Trading revenues | |||||
Trading revenues | 13 | 26 | 28 | 39 | 65 |
Other trading securities | |||||
Trading revenues | |||||
Trading revenues | 59 | SFr (196) | 15 | (137) | (2) |
Bank | |||||
Trading revenues | |||||
Trading revenues | SFr 534 | SFr 249 | 1,048 | 774 | |
Bank | Interest rate products | |||||
Trading revenues | |||||
Trading revenues | 559 | 1,955 | |||
Bank | Foreign exchange products | |||||
Trading revenues | |||||
Trading revenues | 152 | 1,238 | |||
Bank | Equity/index-related products | |||||
Trading revenues | |||||
Trading revenues | 336 | (1,901) | |||
Bank | Credit products | |||||
Trading revenues | |||||
Trading revenues | 99 | (581) | |||
Bank | Commodity, emission and energy products | |||||
Trading revenues | |||||
Trading revenues | 39 | 65 | |||
Bank | Other trading securities | |||||
Trading revenues | |||||
Trading revenues | SFr (137) | SFr (2) |
Other revenues (Details)
Other revenues (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 | |
Other Revenues | |||||
Noncontrolling interests without SEI | SFr 0 | SFr (1) | SFr 0 | SFr (1) | SFr (1) |
Loans held-for-sale | 1 | 10 | 1 | 11 | 0 |
Long-lived assets held-for-sale | 0 | 16 | (4) | 16 | (11) |
Equity method investments | 52 | 69 | 65 | 121 | 106 |
Other investments | 61 | 128 | 30 | 189 | 77 |
Other | 201 | 205 | 234 | 406 | 436 |
Other revenues | 315 | SFr 427 | 326 | 742 | 607 |
Bank | |||||
Other Revenues | |||||
Loans held-for-sale | 11 | 0 | |||
Long-lived assets held-for-sale | 16 | (11) | |||
Equity method investments | 119 | 104 | |||
Other investments | 188 | 76 | |||
Other | 445 | 483 | |||
Other revenues | SFr 330 | SFr 355 | SFr 779 | SFr 652 |
Provision for credit losses (De
Provision for credit losses (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 | |
Provision for credit losses | |||||
Provision for loan losses | SFr 60 | SFr 36 | SFr 70 | SFr 96 | SFr 136 |
Release of provision for loan and lease losses | (1) | ||||
Provision for lending-related and other exposures | 13 | 12 | 12 | 25 | |
Provision for credit losses | 73 | SFr 48 | 82 | 121 | 135 |
Bank | |||||
Provision for credit losses | |||||
Provision for loan losses | 96 | 136 | |||
Release of provision for loan and lease losses | (1) | ||||
Provision for lending-related and other exposures | 25 | ||||
Provision for credit losses | SFr 73 | SFr 82 | SFr 121 | SFr 135 |
Compensation and benefits (Deta
Compensation and benefits (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 | |
Compensation and benefits | |||||
Salaries and variable compensation | SFr 2,148 | SFr 2,189 | SFr 2,196 | SFr 4,337 | SFr 4,542 |
Social security | 200 | 160 | 204 | 360 | 360 |
Other | 199 | 189 | 195 | 388 | 398 |
Compensation and benefits | 2,547 | 2,538 | 2,595 | 5,085 | 5,300 |
Defined Benefit Plan, Service Cost | 65 | 65 | 67 | 130 | 133 |
Defined benefit and defined contribution | |||||
Compensation and benefits | |||||
Defined Benefit Plan, Service Cost | 108 | SFr 107 | 106 | 215 | 217 |
Bank | |||||
Compensation and benefits | |||||
Salaries and variable compensation | 3,943 | 4,461 | |||
Social security | 315 | 353 | |||
Other | 443 | 474 | |||
Compensation and benefits | SFr 2,353 | SFr 2,577 | 4,701 | 5,288 | |
Bank | Defined benefit and defined contribution | |||||
Compensation and benefits | |||||
Defined Benefit Plan, Service Cost | 278 | ||||
Bank | International | |||||
Compensation and benefits | |||||
Defined Benefit Plan, Service Cost | SFr 8 | SFr 11 |
General and administrative ex80
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 | |||||
Occupancy expenses | SFr 248 | SFr 240 | SFr 246 | SFr 488 | SFr 489 |
IT, machinery, etc. | 273 | 277 | 259 | 550 | 540 |
Provisions and losses | 97 | 140 | 80 | 237 | 225 |
Travel and entertainment | 83 | 94 | 80 | 177 | 163 |
Professional services | 428 | 483 | 592 | 911 | 1,191 |
Amortization and impairment of other intangible assets | 2 | 3 | 2 | 5 | 5 |
Other | 289 | 271 | 268 | 560 | 515 |
General and administrative expenses | 1,420 | 1,508 | 1,527 | 2,928 | 3,128 |
Net Periodic Defined Benefits Expense (Reversal of Expense), Excluding Service Cost Component | (52) | SFr (53) | (53) | (105) | (100) |
Bank | |||||
General and Administrative Expenses | |||||
Occupancy expenses | 435 | 487 | |||
IT, machinery, etc. | 428 | 534 | |||
Provisions and losses | 237 | 225 | |||
Travel and entertainment | 164 | 157 | |||
Professional services | 1,490 | 1,175 | |||
Amortization and impairment of other intangible assets | 5 | 5 | |||
Other | 799 | 709 | |||
General and administrative expenses | SFr 1,735 | SFr 1,619 | 3,558 | SFr 3,292 | |
Net Periodic Defined Benefits Expense (Reversal of Expense), Excluding Service Cost Component | SFr 15 |
Restructuring expenses (Details
Restructuring 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 | |
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring expenses | SFr 175 | SFr 144 | SFr 69 | SFr 319 | SFr 206 |
General and Administrative Expense [Member] | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring expenses | 90 | 41 | 28 | 131 | 78 |
of which pensions | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring expenses | 25 | 27 | 9 | 52 | 51 |
Compensation and benefits | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring expenses | 85 | 103 | 41 | 188 | 128 |
of which severance | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring expenses | 58 | 69 | 24 | 127 | 86 |
of which accelerated deferred compensation | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring expenses | 27 | 34 | 17 | 61 | 42 |
Operating Segments | Swiss Universal Bank | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring expenses | 27 | 28 | (4) | 55 | 48 |
Operating Segments | International Wealth Management | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring expenses | 28 | 26 | 7 | 54 | 43 |
Operating Segments | Asia Pacific | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring expenses | 20 | 6 | 11 | 26 | 30 |
Operating Segments | Global Markets | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring expenses | 56 | 42 | 32 | 98 | 52 |
Operating Segments | Investment Banking & Capital Markets | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring expenses | 31 | 30 | 10 | 61 | 12 |
Operating Segments | Strategic Resolution Unit | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring expenses | 13 | 11 | 11 | 24 | 18 |
Corporate Center | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring expenses | 0 | SFr 1 | 2 | 1 | 3 |
Bank | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring expenses | SFr 145 | SFr 61 | 257 | 155 | |
Bank | General and Administrative Expense [Member] | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring expenses | 77 | 27 | |||
Bank | Compensation and benefits | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring expenses | 180 | 128 | |||
Bank | of which severance | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring expenses | 119 | 86 | |||
Bank | of which accelerated deferred compensation | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring expenses | 61 | 42 | |||
Bank | Operating Segments | Swiss Universal Bank | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring expenses | 55 | 48 | |||
Bank | Operating Segments | International Wealth Management | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring expenses | 54 | 43 | |||
Bank | Operating Segments | Asia Pacific | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring expenses | 26 | 30 | |||
Bank | Operating Segments | Global Markets | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring expenses | 98 | 52 | |||
Bank | Operating Segments | Investment Banking & Capital Markets | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring expenses | 61 | 12 | |||
Bank | Operating Segments | Strategic Resolution Unit | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring expenses | 24 | 18 | |||
Bank | Corporate Center | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring expenses | 1 | 3 | |||
Bank | Adjustments | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring expenses | SFr (62) | SFr (51) |
Restructuring provision - Rollf
Restructuring provision - Rollforward (Details 2) - 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 | |
Restructuring provision | |||||
Restructuring Reserve, Beginning Balance | SFr 312 | SFr 306 | SFr 309 | SFr 306 | SFr 311 |
Restructuring expenses | 175 | 144 | 69 | 319 | 206 |
Utilization | 102 | 77 | 78 | 179 | 150 |
Restructuring Reserve, Ending Balance | SFr 329 | 312 | 264 | 329 | 264 |
Stock compensation plan | Share awards | |||||
Restructuring provision | |||||
Vesting period | 3 years | ||||
General and Administrative Expense [Member] | |||||
Restructuring provision | |||||
Restructuring Reserve, Beginning Balance | SFr 108 | 110 | 89 | 110 | 94 |
Restructuring expenses | 90 | 41 | 28 | 131 | 78 |
Utilization | 32 | 16 | 15 | 48 | 28 |
Restructuring Reserve, Ending Balance | 137 | 108 | 83 | 137 | 83 |
of which pensions | |||||
Restructuring provision | |||||
Restructuring expenses | 25 | 27 | 9 | 52 | 51 |
Compensation and benefits | |||||
Restructuring provision | |||||
Restructuring Reserve, Beginning Balance | 204 | 196 | 220 | 196 | 217 |
Restructuring expenses | 58 | 69 | 24 | 127 | 86 |
Utilization | 70 | 61 | 63 | 131 | 122 |
Restructuring Reserve, Ending Balance | 192 | 204 | 181 | 192 | 181 |
Unsettled share-based compensation obligations classified as a component of total shareholders equity | |||||
Restructuring provision | |||||
Restructuring expenses | 20 | 26 | 12 | 46 | 27 |
Unsettled cash-based compensation obligations classified as compensation liabilities | |||||
Restructuring provision | |||||
Restructuring expenses | 7 | 8 | 5 | 15 | 15 |
Excluding unsettled compensation, pension obligations and accelerated accumulated depreciation | |||||
Restructuring provision | |||||
Restructuring expenses | 119 | 83 | 33 | 202 | 103 |
General and Administrative Expense, Excluding accelerated accumulated depreciation and pension obligations [Member] | |||||
Restructuring provision | |||||
Restructuring expenses | 61 | 14 | 9 | 75 | 17 |
Accelerated accumulated depreciation | |||||
Restructuring provision | |||||
Restructuring expenses | 4 | 0 | 10 | 4 | 10 |
Bank | |||||
Restructuring provision | |||||
Restructuring Reserve, Beginning Balance | 301 | 301 | 311 | ||
Restructuring expenses | 145 | 61 | 257 | 155 | |
Utilization | 169 | 150 | |||
Restructuring Reserve, Ending Balance | 324 | 264 | SFr 324 | 264 | |
Bank | Stock compensation plan | Share awards | |||||
Restructuring provision | |||||
Vesting period | 3 years | ||||
Bank | General and Administrative Expense [Member] | |||||
Restructuring provision | |||||
Restructuring Reserve, Beginning Balance | 110 | SFr 110 | 94 | ||
Restructuring expenses | 77 | 27 | |||
Utilization | 46 | 28 | |||
Restructuring Reserve, Ending Balance | 137 | 83 | 137 | 83 | |
Bank | Compensation and benefits | |||||
Restructuring provision | |||||
Restructuring Reserve, Beginning Balance | SFr 191 | 191 | 217 | ||
Restructuring expenses | 119 | 86 | |||
Utilization | 123 | 122 | |||
Restructuring Reserve, Ending Balance | SFr 187 | SFr 181 | 187 | 181 | |
Bank | Unsettled share-based compensation obligations classified as a component of total shareholders equity | |||||
Restructuring provision | |||||
Restructuring expenses | 46 | 27 | |||
Bank | Unsettled cash-based compensation obligations classified as compensation liabilities | |||||
Restructuring provision | |||||
Restructuring expenses | 15 | 15 | |||
Bank | Excluding unsettled compensation, pension obligations and accelerated accumulated depreciation | |||||
Restructuring provision | |||||
Restructuring expenses | 192 | 103 | |||
Bank | General and Administrative Expense, Excluding accelerated accumulated depreciation and pension obligations [Member] | |||||
Restructuring provision | |||||
Restructuring expenses | 73 | 17 | |||
Bank | Accelerated accumulated depreciation | |||||
Restructuring provision | |||||
Restructuring expenses | SFr 4 | SFr 10 |
Earnings per share (Details)
Earnings per share (Details) - CHF (SFr) SFr / shares in Units, shares in Millions, SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2018 | Mar. 31, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Net income/(loss) attributable to shareholders | |||||
Net income/(loss) attributable to shareholders | SFr 647 | SFr 694 | SFr 303 | SFr 1,341 | SFr 899 |
Net income attributable to shareholders for basic earnings per share | 647 | 694 | 303 | 1,341 | 899 |
Net income/(loss) attributable to shareholders for diluted earnings per share | SFr 647 | SFr 694 | SFr 303 | SFr 1,341 | SFr 899 |
Weighted-average shares outstanding | |||||
Weighted-average shares outstanding for basic earnings per share available for common shares (in shares) | 2,581.9 | 2,586.4 | 2,309.6 | 2,584.1 | 2,261.9 |
Dilutive share options and warrants (in shares) | 3.3 | 2.2 | 4.2 | 2.8 | 4 |
Dilutive share awards (in shares) | 44.9 | 65.1 | 40.3 | 55 | 47.7 |
Weighted-average shares outstanding for diluted earnings per share available for common shares (in shares) | 2,630.1 | 2,653.7 | 2,354.1 | 2,641.9 | 2,313.6 |
Basic earnings per share available for common shares (CHF) | |||||
Basic earnings/(loss) per share (in CHF per share) | SFr 0.25 | SFr 0.27 | SFr 0.13 | SFr 0.52 | SFr 0.40 |
Diluted earnings per share available for common shares (CHF) | |||||
Diluted earnings/(loss) per share (in CHF per share) | SFr 0.25 | SFr 0.26 | SFr 0.13 | SFr 0.51 | SFr 0.39 |
Weighted-average potential dilutive common shares | 9.1 | 11.6 | 10.4 | 10.4 | 9.1 |
Revenue from contracts with c84
Revenue from contracts with customers (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | |
Jun. 30, 2018 | Mar. 31, 2018 | |
Disaggregation of Revenue [Line Items] | ||
Revenues from contracts with customers | SFr 2,640 | SFr 2,671 |
Investment and portfolio management [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenues from contracts with customers | 896 | 892 |
Other securities business [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenues from contracts with customers | 11 | 12 |
Underwriting [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenues from contracts with customers | 513 | 470 |
Brokerage [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenues from contracts with customers | 749 | 810 |
Other services [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenues from contracts with customers | 471 | 487 |
Bank | ||
Disaggregation of Revenue [Line Items] | ||
Revenues from contracts with customers | 2,608 | 2,638 |
Bank | Investment and portfolio management [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenues from contracts with customers | 850 | 843 |
Bank | Other securities business [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenues from contracts with customers | 21 | 23 |
Bank | Underwriting [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenues from contracts with customers | 513 | 470 |
Bank | Brokerage [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenues from contracts with customers | 748 | 812 |
Bank | Other services [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenues from contracts with customers | SFr 476 | SFr 490 |
Revenue from contracts with c85
Revenue from contracts with customers (Details 2) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Mar. 31, 2018 | Jun. 30, 2018 | Dec. 31, 2017 | |
Contract balances [Line Items] | ||||
Accounts Receivable, Net | SFr 838 | SFr 758 | SFr 838 | |
Contract with Customer, Liability | 63 | 67 | 63 | |
Contract with Customer, Liability, Revenue Recognized | 13 | 13 | ||
Contact with customer, Revenue recognized in the reporting period from performance obligations satisfied in previous periods | 0 | 0 | 0 | |
Capitalized costs to obtain contracts | 0 | 0 | 0 | |
Capitalized costs to fulfill contracts | 0 | 0 | 0 | |
Net impairment on contract receivables | 3 | 0 | 3 | |
Impairment losses on contract receivables | 0 | 0 | 0 | |
Bank | ||||
Contract balances [Line Items] | ||||
Accounts Receivable, Net | 824 | 745 | 824 | |
Contract with Customer, Liability | 63 | 67 | 63 | SFr 15 |
Contract with Customer, Liability, Revenue Recognized | 13 | 13 | ||
Contact with customer, Revenue recognized in the reporting period from performance obligations satisfied in previous periods | 0 | 0 | 0 | |
Capitalized costs to obtain contracts | 0 | 0 | 0 | |
Capitalized costs to fulfill contracts | 0 | 0 | 0 | |
Net impairment on contract receivables | 3 | 0 | 3 | |
Impairment losses on contract receivables | SFr 0 | 0 | SFr 0 | |
Transition adjustment pre-tax | 56 | |||
Transition adjustment net of tax | SFr 45 |
Revenue from contracts with c86
Revenue from contracts with customers (Details 3) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2018 | Mar. 31, 2018 | Jun. 30, 2018 | |
Commisions and fees [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue recognition adjustment - revenue | SFr (23) | SFr (20) | SFr (43) |
Other Income [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue recognition adjustment - revenue | 0 | 0 | 0 |
General and Administrative Expense [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue recognition adjustment - expenses | (48) | (40) | (88) |
Commission expenses [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue recognition adjustment - expenses | 29 | 22 | 51 |
Bank | Commisions and fees [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue recognition adjustment - revenue | (23) | (20) | (43) |
Bank | Other Income [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue recognition adjustment - revenue | (6) | (5) | (11) |
Bank | General and Administrative Expense [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue recognition adjustment - expenses | (54) | (45) | (99) |
Bank | Commission expenses [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue recognition adjustment - expenses | SFr 29 | SFr 22 | SFr 51 |
Trading assets and liabilitie87
Trading assets and liabilities (Details) - CHF (SFr) SFr in Millions | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 |
Schedule of Trading Assets and Liabilities | |||
Trading assets | SFr 135,586 | SFr 140,201 | SFr 156,334 |
Trading liabilities | 42,776 | 44,755 | 39,119 |
Debt securities | |||
Schedule of Trading Assets and Liabilities | |||
Trading assets | 67,595 | 68,380 | 72,765 |
Equity securities | |||
Schedule of Trading Assets and Liabilities | |||
Trading assets | 43,754 | 46,595 | 55,722 |
Derivative instruments | |||
Schedule of Trading Assets and Liabilities | |||
Trading assets | 19,564 | 20,400 | 19,621 |
Trading liabilities | 15,182 | 14,935 | 14,654 |
Other trading securities | |||
Schedule of Trading Assets and Liabilities | |||
Trading assets | 4,673 | 4,826 | 8,226 |
Short positions | |||
Schedule of Trading Assets and Liabilities | |||
Trading liabilities | 27,594 | SFr 29,820 | 24,465 |
Bank | |||
Schedule of Trading Assets and Liabilities | |||
Trading assets | 135,787 | 156,774 | |
Trading liabilities | 42,779 | 39,132 | |
Bank | Debt securities | |||
Schedule of Trading Assets and Liabilities | |||
Trading assets | 67,695 | 72,826 | |
Bank | Equity securities | |||
Schedule of Trading Assets and Liabilities | |||
Trading assets | 43,799 | 55,822 | |
Bank | Derivative instruments | |||
Schedule of Trading Assets and Liabilities | |||
Trading assets | 19,621 | 19,900 | |
Trading liabilities | 15,183 | 14,654 | |
Bank | Other trading securities | |||
Schedule of Trading Assets and Liabilities | |||
Trading assets | 4,672 | 8,226 | |
Bank | Short positions | |||
Schedule of Trading Assets and Liabilities | |||
Trading liabilities | SFr 27,596 | SFr 24,478 |
Trading assets and liabilitie88
Trading assets and liabilities - Cash collateral - netted (Details 2) - CHF (SFr) SFr in Millions | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 |
Cash collateral - netted | |||
Cash collateral paid | SFr 21,195 | SFr 22,022 | SFr 23,288 |
Cash collateral received | 14,376 | 14,165 | 14,996 |
Cash collateral - not netted | |||
Cash collateral paid | 7,488 | 6,330 | 5,141 |
Cash collateral received | 8,761 | SFr 8,749 | 8,644 |
Bank | |||
Cash collateral - netted | |||
Cash collateral paid | 21,252 | 23,587 | |
Cash collateral received | 14,376 | 14,996 | |
Cash collateral - not netted | |||
Cash collateral paid | 7,488 | 5,142 | |
Cash collateral received | SFr 8,761 | SFr 8,644 |
Investment securities (Details)
Investment securities (Details) - CHF (SFr) SFr in Millions | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 |
Investment securities disclosures | |||
Securities available-for-sale | SFr 2,331 | SFr 2,146 | SFr 2,191 |
Total investment securities | 2,331 | SFr 2,146 | 2,191 |
Bank | |||
Investment securities disclosures | |||
Securities available-for-sale | 2,329 | 2,189 | |
Total investment securities | SFr 2,329 | SFr 2,189 |
Investment securities by type (
Investment securities by type (Details 2) - CHF (SFr) SFr in Millions | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 |
Available-for-sale securities | |||
Amortized cost | SFr 2,319 | SFr 2,127 | |
Gross unrealized gains, Securities | 12 | 64 | |
Gross unrealized losses, Securities | 0 | 0 | |
Fair value | 2,331 | SFr 2,146 | 2,191 |
Debt securities | |||
Available-for-sale securities | |||
Amortized cost, Debt Securities | 2,319 | 2,032 | |
Gross unrealized gains, Debt securities | 12 | 34 | |
Gross unrealized losses, Debt securities | 0 | 0 | |
Fair value, Debt securities | 2,331 | 2,066 | |
Debt securities issued by the Swiss federal, cantonal or local government entities | |||
Available-for-sale securities | |||
Amortized cost, Debt Securities | 2 | 199 | |
Gross unrealized gains, Debt securities | 0 | 13 | |
Gross unrealized losses, Debt securities | 0 | 0 | |
Fair value, Debt securities | 2 | 212 | |
Debt securities issued by foreign governments | |||
Available-for-sale securities | |||
Amortized cost, Debt Securities | 1,228 | 1,215 | |
Gross unrealized gains, Debt securities | 12 | 21 | |
Gross unrealized losses, Debt securities | 0 | 0 | |
Fair value, Debt securities | 1,240 | 1,236 | |
Corporate debt securities | |||
Available-for-sale securities | |||
Amortized cost, Debt Securities | 410 | 238 | |
Gross unrealized gains, Debt securities | 0 | 0 | |
Gross unrealized losses, Debt securities | 0 | 0 | |
Fair value, Debt securities | 410 | 238 | |
Residential mortgage-backed securities | |||
Available-for-sale securities | |||
Amortized cost, Debt Securities | 677 | 207 | |
Gross unrealized gains, Debt securities | 0 | 0 | |
Gross unrealized losses, Debt securities | 0 | 0 | |
Fair value, Debt securities | 677 | 207 | |
Commercial mortgage-backed securities | |||
Available-for-sale securities | |||
Amortized cost, Debt Securities | 2 | 173 | |
Gross unrealized gains, Debt securities | 0 | 0 | |
Gross unrealized losses, Debt securities | 0 | 0 | |
Fair value, Debt securities | 2 | 173 | |
Equity securities | |||
Available-for-sale securities | |||
Amortized cost, Equity securities | 95 | ||
Gross unrealized gains, Equity securities | 30 | ||
Gross unrealized losses, Equity securities | 0 | ||
Fair value, Equity securities | 125 | ||
Banks, trust and insurance companies | |||
Available-for-sale securities | |||
Amortized cost, Equity securities | 95 | ||
Gross unrealized gains, Equity securities | 30 | ||
Gross unrealized losses, Equity securities | 0 | ||
Fair value, Equity securities | 125 | ||
Bank | |||
Available-for-sale securities | |||
Amortized cost | 2,317 | 2,125 | |
Gross unrealized gains, Securities | 12 | 64 | |
Gross unrealized losses, Securities | 0 | 0 | |
Fair value | 2,329 | 2,189 | |
Bank | Debt securities | |||
Available-for-sale securities | |||
Amortized cost, Debt Securities | 2,317 | 2,030 | |
Gross unrealized gains, Debt securities | 12 | 34 | |
Gross unrealized losses, Debt securities | 0 | 0 | |
Fair value, Debt securities | 2,329 | 2,064 | |
Bank | Debt securities issued by the Swiss federal, cantonal or local government entities | |||
Available-for-sale securities | |||
Amortized cost, Debt Securities | 0 | 197 | |
Gross unrealized gains, Debt securities | 0 | 13 | |
Gross unrealized losses, Debt securities | 0 | 0 | |
Fair value, Debt securities | 0 | 210 | |
Bank | Debt securities issued by foreign governments | |||
Available-for-sale securities | |||
Amortized cost, Debt Securities | 1,228 | 1,215 | |
Gross unrealized gains, Debt securities | 12 | 21 | |
Gross unrealized losses, Debt securities | 0 | 0 | |
Fair value, Debt securities | 1,240 | 1,236 | |
Bank | Corporate debt securities | |||
Available-for-sale securities | |||
Amortized cost, Debt Securities | 410 | 238 | |
Gross unrealized gains, Debt securities | 0 | 0 | |
Gross unrealized losses, Debt securities | 0 | 0 | |
Fair value, Debt securities | 410 | 238 | |
Bank | Residential mortgage-backed securities | |||
Available-for-sale securities | |||
Amortized cost, Debt Securities | 677 | 207 | |
Gross unrealized gains, Debt securities | 0 | 0 | |
Gross unrealized losses, Debt securities | 0 | 0 | |
Fair value, Debt securities | 677 | 207 | |
Bank | Commercial mortgage-backed securities | |||
Available-for-sale securities | |||
Amortized cost, Debt Securities | 2 | 173 | |
Gross unrealized gains, Debt securities | 0 | 0 | |
Gross unrealized losses, Debt securities | 0 | 0 | |
Fair value, Debt securities | SFr 2 | 173 | |
Bank | Equity securities | |||
Available-for-sale securities | |||
Amortized cost, Equity securities | 95 | ||
Gross unrealized gains, Equity securities | 30 | ||
Gross unrealized losses, Equity securities | 0 | ||
Fair value, Equity securities | 125 | ||
Bank | Banks, trust and insurance companies | |||
Available-for-sale securities | |||
Amortized cost, Equity securities | 95 | ||
Gross unrealized gains, Equity securities | 30 | ||
Gross unrealized losses, Equity securities | 0 | ||
Fair value, Equity securities | SFr 125 |
Investment securities - Proceed
Investment securities - Proceeds/realized gains/losses (Details 4) - CHF (SFr) SFr in Millions | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Debt securities | ||
Proceeds from sales, realized gains and realized losses from available-for-sale securities | ||
Proceeds from sales | SFr 255 | SFr 3 |
Realized gains | 8 | 0 |
Equity securities | ||
Proceeds from sales, realized gains and realized losses from available-for-sale securities | ||
Proceeds from sales | 4 | |
Realized gains | 0 | |
Bank | Debt securities | ||
Proceeds from sales, realized gains and realized losses from available-for-sale securities | ||
Proceeds from sales | 255 | 3 |
Realized gains | SFr 8 | 0 |
Bank | Equity securities | ||
Proceeds from sales, realized gains and realized losses from available-for-sale securities | ||
Proceeds from sales | 4 | |
Realized gains | SFr 0 |
Investment securities - Maturit
Investment securities - Maturities of amortized costs/FV/Avg yield (Details 5) - Debt securities - CHF (SFr) SFr in Millions | Jun. 30, 2018 | Dec. 31, 2017 |
Available-for-sale debt securities amortized cost disclosures | ||
Due within 1 year, amortized cost | SFr 677 | |
Due from 1 to 5 years, amortized cost | 619 | |
Due from 5 to 10 years, amortized cost | 344 | |
Due after 10 years, amortized cost | 679 | |
Total, amortized cost | 2,319 | SFr 2,032 |
Available-for-sale debt securities fair value disclosures | ||
Due within 1 year, fair value | 678 | |
Due from 1 to 5 years, fair value | 629 | |
Due from 5 to 10 years, fair value | 345 | |
Due after 10 years, fair value | 679 | |
Total, fair value | SFr 2,331 | 2,066 |
Available-for-sale debt securities average yield disclosures | ||
Due within 1 year, average yield (as a percent) | 0.78% | |
Due from 1 to 5 years, average yield (as a percent) | 0.81% | |
Due from 5 to 10 years, average yield (as a percent) | 0.76% | |
Due after 10 years, average yield (as a percent) | 4.41% | |
Total, average yield (as a percent) | 1.85% | |
Bank | ||
Available-for-sale debt securities amortized cost disclosures | ||
Due within 1 year, amortized cost | SFr 677 | |
Due from 1 to 5 years, amortized cost | 617 | |
Due from 5 to 10 years, amortized cost | 344 | |
Due after 10 years, amortized cost | 679 | |
Total, amortized cost | 2,317 | 2,030 |
Available-for-sale debt securities fair value disclosures | ||
Due within 1 year, fair value | 678 | |
Due from 1 to 5 years, fair value | 627 | |
Due from 5 to 10 years, fair value | 345 | |
Due after 10 years, fair value | 679 | |
Total, fair value | SFr 2,329 | SFr 2,064 |
Available-for-sale debt securities average yield disclosures | ||
Due within 1 year, average yield (as a percent) | 0.78% | |
Due from 1 to 5 years, average yield (as a percent) | 0.81% | |
Due from 5 to 10 years, average yield (as a percent) | 0.76% | |
Due after 10 years, average yield (as a percent) | 4.41% | |
Total, average yield (as a percent) | 1.85% |
Other investments (Details)
Other investments (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Other investments | |||||
Other investments | SFr 5,626 | SFr 5,487 | SFr 5,964 | SFr 5,626 | |
Reclassified amount from non-marketable equity securities to equity method investments, adoption of ASU 2013-8 | 0 | 0 | 0 | 0 | |
Accumulated depreciation, real estate held for investment | 381 | 391 | 389 | 381 | |
Impairment charges | 0 | 0 | 5 | 0 | SFr 2 |
Foreclosed or Repossessed, Real Estate [Member] | |||||
Other investments | |||||
Other investments | 10 | 22 | 41 | 10 | |
Equity method investments | |||||
Other investments | |||||
Other investments | 2,989 | 2,938 | 3,066 | 2,989 | |
Equity securities (without a readily determinable fair value) | |||||
Other investments | |||||
Other investments | 1,193 | 1,092 | 1,292 | 1,193 | |
of which at net asset value | |||||
Other investments | |||||
Other investments | 601 | 624 | 742 | 601 | |
of which at measurement alternative | |||||
Other investments | |||||
Other investments | 187 | 193 | 175 | 187 | |
of which at fair value | |||||
Other investments | |||||
Other investments | 193 | 66 | 161 | 193 | |
of which at cost less impairment | |||||
Other investments | |||||
Other investments | 212 | 209 | 214 | 212 | |
Real estate held for investment | |||||
Other investments | |||||
Other investments | 173 | 187 | 232 | 173 | |
Real estate held for investment | Foreclosed or Repossessed, Real Estate [Member] | |||||
Other investments | |||||
Other investments | 10 | 22 | 41 | 10 | |
Life finance instruments | |||||
Other investments | |||||
Other investments | 1,271 | SFr 1,270 | 1,374 | 1,271 | |
Bank | |||||
Other investments | |||||
Other investments | 5,554 | 5,893 | 5,554 | ||
Reclassified amount from non-marketable equity securities to equity method investments, adoption of ASU 2013-8 | 0 | 0 | 0 | ||
Accumulated depreciation, real estate held for investment | 377 | 385 | 377 | ||
Impairment charges | 0 | SFr 2 | |||
Bank | Foreclosed or Repossessed, Real Estate [Member] | |||||
Other investments | |||||
Other investments | 10 | 41 | 10 | ||
Bank | Equity method investments | |||||
Other investments | |||||
Other investments | 2,949 | 3,027 | 2,949 | ||
Bank | Equity securities (without a readily determinable fair value) | |||||
Other investments | |||||
Other investments | 1,184 | 1,283 | 1,184 | ||
Bank | of which at net asset value | |||||
Other investments | |||||
Other investments | 593 | 734 | 593 | ||
Bank | of which at measurement alternative | |||||
Other investments | |||||
Other investments | 187 | 175 | 187 | ||
Bank | of which at fair value | |||||
Other investments | |||||
Other investments | 193 | 161 | 193 | ||
Bank | of which at cost less impairment | |||||
Other investments | |||||
Other investments | 211 | 213 | 211 | ||
Bank | Real estate held for investment | |||||
Other investments | |||||
Other investments | 150 | 209 | 150 | ||
Bank | Real estate held for investment | Foreclosed or Repossessed, Real Estate [Member] | |||||
Other investments | |||||
Other investments | 10 | 41 | 10 | ||
Bank | Life finance instruments | |||||
Other investments | |||||
Other investments | SFr 1,271 | SFr 1,374 | SFr 1,271 |
Other investments (Details 2)
Other investments (Details 2) SFr in Millions | 3 Months Ended |
Jun. 30, 2018CHF (SFr) | |
Other investments | |
Impairments and downward adjustments | SFr (3) |
Impairments and downward adjustments, Annual Amount | 0 |
Bank | |
Other investments | |
Impairments and downward adjustments | (3) |
Impairments and downward adjustments, Annual Amount | SFr (3) |
Loans, allowance for loan los95
Loans, allowance for loan losses and credit quality (Details) - CHF (SFr) SFr in Millions | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 |
Loans | ||||||
Gross loans | SFr 288,680 | SFr 284,829 | SFr 280,137 | |||
of which held at amortized cost | 272,969 | 270,112 | 264,830 | SFr 258,268 | ||
of which held at fair value | 15,711 | 14,717 | 15,307 | |||
Net (unearned income)/deferred expenses | (115) | (117) | (106) | |||
Allowance for loan losses | (905) | (858) | (882) | (917) | SFr (899) | SFr (938) |
Net loans | 287,660 | 283,854 | 279,149 | |||
Foreign | ||||||
Loans | ||||||
Gross loans | 128,982 | 126,029 | 122,441 | |||
Switzerland | ||||||
Loans | ||||||
Gross loans | 159,698 | 158,800 | 157,696 | |||
Corporate and institutional | ||||||
Loans | ||||||
Gross loans | 133,402 | 130,083 | 127,840 | |||
of which held at amortized cost | 117,711 | 115,386 | 112,553 | 108,550 | ||
Allowance for loan losses | (692) | (654) | (662) | (702) | (682) | (722) |
Corporate and institutional | Real estate | ||||||
Loans | ||||||
Gross loans | 25,780 | 26,327 | 26,599 | |||
of which held at amortized cost | 25,276 | 26,003 | ||||
Corporate and institutional | Commercial and industrial loans | ||||||
Loans | ||||||
Gross loans | 86,762 | 83,464 | 81,670 | |||
of which held at amortized cost | 80,762 | 76,025 | ||||
Corporate and institutional | Financial institutions | ||||||
Loans | ||||||
Gross loans | 16,945 | 16,465 | 15,697 | |||
of which held at amortized cost | 10,495 | 9,326 | ||||
Corporate and institutional | Governments and public institutions | ||||||
Loans | ||||||
Gross loans | 3,915 | 3,827 | 3,874 | |||
of which held at amortized cost | 1,178 | 1,199 | ||||
Consumer | ||||||
Loans | ||||||
Gross loans | 155,278 | 154,746 | 152,297 | |||
of which held at amortized cost | 155,258 | 154,726 | 152,277 | 149,718 | ||
Allowance for loan losses | (213) | (204) | (220) | (215) | SFr (217) | (216) |
Consumer | Mortgages | ||||||
Loans | ||||||
Gross loans | 107,085 | 106,466 | 106,039 | |||
of which held at amortized cost | 107,085 | 106,039 | ||||
Consumer | Loans collateralized by securities | ||||||
Loans | ||||||
Gross loans | 44,025 | 44,086 | 42,016 | |||
of which held at amortized cost | 44,025 | 42,016 | ||||
Consumer | Consumer finance | ||||||
Loans | ||||||
Gross loans | 4,168 | SFr 4,194 | 4,242 | |||
of which held at amortized cost | 4,148 | 4,222 | ||||
Bank | ||||||
Loans | ||||||
Gross loans | 294,197 | 284,224 | ||||
of which held at amortized cost | 278,486 | 268,917 | 261,769 | |||
of which held at fair value | 15,711 | 15,307 | ||||
Net (unearned income)/deferred expenses | (115) | (106) | ||||
Allowance for loan losses | (904) | (881) | (916) | (937) | ||
Net loans | 293,178 | 283,237 | ||||
Bank | Foreign | ||||||
Loans | ||||||
Gross loans | 129,656 | 122,579 | ||||
Bank | Switzerland | ||||||
Loans | ||||||
Gross loans | 164,541 | 161,645 | ||||
Bank | Corporate and institutional | ||||||
Loans | ||||||
Gross loans | 138,919 | 131,927 | ||||
of which held at amortized cost | 123,228 | 116,640 | 112,051 | |||
Allowance for loan losses | (691) | (661) | (701) | (721) | ||
Bank | Corporate and institutional | Real estate | ||||||
Loans | ||||||
Gross loans | 25,780 | 26,599 | ||||
of which held at amortized cost | 25,276 | 26,003 | ||||
Bank | Corporate and institutional | Commercial and industrial loans | ||||||
Loans | ||||||
Gross loans | 87,353 | 81,792 | ||||
of which held at amortized cost | 81,353 | 76,147 | ||||
Bank | Corporate and institutional | Financial institutions | ||||||
Loans | ||||||
Gross loans | 21,871 | 19,662 | ||||
of which held at amortized cost | 15,421 | 13,291 | ||||
Bank | Corporate and institutional | Governments and public institutions | ||||||
Loans | ||||||
Gross loans | 3,915 | 3,874 | ||||
of which held at amortized cost | 1,178 | 1,199 | ||||
Bank | Consumer | ||||||
Loans | ||||||
Gross loans | 155,278 | 152,297 | ||||
of which held at amortized cost | 155,258 | 152,277 | 149,718 | |||
Allowance for loan losses | (213) | (220) | SFr (215) | SFr (216) | ||
Bank | Consumer | Mortgages | ||||||
Loans | ||||||
Gross loans | 107,085 | 106,039 | ||||
of which held at amortized cost | 107,085 | 106,039 | ||||
Bank | Consumer | Loans collateralized by securities | ||||||
Loans | ||||||
Gross loans | 44,025 | 42,016 | ||||
of which held at amortized cost | 44,025 | 42,016 | ||||
Bank | Consumer | Consumer finance | ||||||
Loans | ||||||
Gross loans | 4,168 | 4,242 | ||||
of which held at amortized cost | SFr 4,148 | SFr 4,222 |
Loans, allowance for loan los96
Loans, allowance for loan losses and credit quality - Allowance roll-forward (Details 2) - 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 | Dec. 31, 2017 | |
Allowance for loan losses | ||||||
Balance at beginning of period | SFr 858 | SFr 882 | SFr 899 | SFr 882 | SFr 938 | |
Net movements recognized in statements of operations | 60 | 36 | 70 | 96 | 136 | |
Gross write-offs | (42) | (78) | (53) | (120) | (152) | |
Recoveries | 10 | 16 | 9 | 26 | 21 | |
Net write-offs | (32) | (62) | (44) | (94) | (131) | |
Provisions for interest | 7 | 8 | 5 | 15 | (1) | |
Foreign currency translation impact and other adjustments, net | 12 | (6) | (13) | 6 | (25) | |
Balance at end of period | 905 | 858 | 917 | 905 | 917 | |
of which individually evaluated for impairment | 646 | 628 | 712 | 646 | 712 | |
of which collectively evaluated for impairment | 259 | 230 | 205 | 259 | 205 | |
Gross loans held at amortized cost | ||||||
Gross loans held at amortized cost | 272,969 | 270,112 | 258,268 | 272,969 | 258,268 | SFr 264,830 |
of which individually evaluated for impairment | 2,102 | 1,966 | 2,240 | 2,102 | 2,240 | |
of which collectively evaluated for impairment | 270,867 | 268,146 | 256,028 | 270,867 | 256,028 | |
Loans held at amortized cost | ||||||
Purchases | 779 | 617 | 734 | 1,396 | 1,658 | |
Reclassifications from loans held-for-sale | 1 | 0 | 0 | 1 | 0 | |
Reclassifications to loans held-for-sale | 944 | 704 | 705 | 1,648 | 3,809 | |
Sales | 888 | 673 | 907 | 1,561 | 3,696 | |
Corporate and institutional | ||||||
Allowance for loan losses | ||||||
Balance at beginning of period | 654 | 662 | 682 | 662 | 722 | |
Net movements recognized in statements of operations | 44 | 32 | 56 | 76 | 105 | |
Gross write-offs | (27) | (54) | (36) | (81) | (121) | |
Recoveries | 8 | 13 | 7 | 21 | 13 | |
Net write-offs | (19) | (41) | (29) | (60) | (108) | |
Provisions for interest | 3 | 6 | 2 | 9 | 4 | |
Foreign currency translation impact and other adjustments, net | 10 | (5) | (9) | 5 | (21) | |
Balance at end of period | 692 | 654 | 702 | 692 | 702 | |
of which individually evaluated for impairment | 474 | 464 | 540 | 474 | 540 | |
of which collectively evaluated for impairment | 218 | 190 | 162 | 218 | 162 | |
Gross loans held at amortized cost | ||||||
Gross loans held at amortized cost | 117,711 | 115,386 | 108,550 | 117,711 | 108,550 | 112,553 |
of which individually evaluated for impairment | 1,469 | 1,320 | 1,633 | 1,469 | 1,633 | |
of which collectively evaluated for impairment | 116,242 | 114,066 | 106,917 | 116,242 | 106,917 | |
Loans held at amortized cost | ||||||
Purchases | 779 | 617 | 734 | 1,396 | 1,658 | |
Reclassifications from loans held-for-sale | 1 | 0 | 0 | 1 | 0 | |
Reclassifications to loans held-for-sale | 943 | 704 | 705 | 1,647 | 3,809 | |
Sales | 887 | 673 | 907 | 1,560 | 3,696 | |
Consumer | ||||||
Allowance for loan losses | ||||||
Balance at beginning of period | 204 | 220 | 217 | 220 | 216 | |
Net movements recognized in statements of operations | 16 | 4 | 14 | 20 | 31 | |
Gross write-offs | (15) | (24) | (17) | (39) | (31) | |
Recoveries | 2 | 3 | 2 | 5 | 8 | |
Net write-offs | (13) | (21) | (15) | (34) | (23) | |
Provisions for interest | 4 | 2 | 3 | 6 | (5) | |
Foreign currency translation impact and other adjustments, net | 2 | (1) | (4) | 1 | (4) | |
Balance at end of period | 213 | 204 | 215 | 213 | 215 | |
of which individually evaluated for impairment | 172 | 164 | 172 | 172 | 172 | |
of which collectively evaluated for impairment | 41 | 40 | 43 | 41 | 43 | |
Gross loans held at amortized cost | ||||||
Gross loans held at amortized cost | 155,258 | 154,726 | 149,718 | 155,258 | 149,718 | 152,277 |
of which individually evaluated for impairment | 633 | 646 | 607 | 633 | 607 | |
of which collectively evaluated for impairment | 154,625 | 154,080 | 149,111 | 154,625 | 149,111 | |
Loans held at amortized cost | ||||||
Purchases | 0 | 0 | 0 | 0 | 0 | |
Reclassifications from loans held-for-sale | 0 | 0 | 0 | 0 | 0 | |
Reclassifications to loans held-for-sale | 1 | 0 | 0 | 1 | 0 | |
Sales | 1 | 0 | 0 | 1 | 0 | |
Bank | ||||||
Allowance for loan losses | ||||||
Balance at beginning of period | 881 | 881 | 937 | |||
Net movements recognized in statements of operations | 96 | 136 | ||||
Gross write-offs | (120) | (152) | ||||
Recoveries | 26 | 21 | ||||
Net write-offs | (94) | (131) | ||||
Provisions for interest | 15 | (1) | ||||
Foreign currency translation impact and other adjustments, net | 6 | (25) | ||||
Balance at end of period | 904 | 916 | 904 | 916 | ||
of which individually evaluated for impairment | 645 | 711 | 645 | 711 | ||
of which collectively evaluated for impairment | 259 | 205 | 259 | 205 | ||
Gross loans held at amortized cost | ||||||
Gross loans held at amortized cost | 278,486 | 261,769 | 278,486 | 261,769 | 268,917 | |
of which individually evaluated for impairment | 2,090 | 2,228 | 2,090 | 2,228 | ||
of which collectively evaluated for impairment | 276,396 | 259,541 | 276,396 | 259,541 | ||
Loans held at amortized cost | ||||||
Purchases | 1,396 | 1,658 | ||||
Reclassifications from loans held-for-sale | 1 | 0 | ||||
Reclassifications to loans held-for-sale | 1,648 | 3,809 | ||||
Sales | 1,561 | 3,696 | ||||
Bank | Corporate and institutional | ||||||
Allowance for loan losses | ||||||
Balance at beginning of period | 661 | 661 | 721 | |||
Net movements recognized in statements of operations | 76 | 105 | ||||
Gross write-offs | (81) | (121) | ||||
Recoveries | 21 | 13 | ||||
Net write-offs | (60) | (108) | ||||
Provisions for interest | 9 | 4 | ||||
Foreign currency translation impact and other adjustments, net | 5 | (21) | ||||
Balance at end of period | 691 | 701 | 691 | 701 | ||
of which individually evaluated for impairment | 473 | 539 | 473 | 539 | ||
of which collectively evaluated for impairment | 218 | 162 | 218 | 162 | ||
Gross loans held at amortized cost | ||||||
Gross loans held at amortized cost | 123,228 | 112,051 | 123,228 | 112,051 | 116,640 | |
of which individually evaluated for impairment | 1,457 | 1,621 | 1,457 | 1,621 | ||
of which collectively evaluated for impairment | 121,771 | 110,430 | 121,771 | 110,430 | ||
Loans held at amortized cost | ||||||
Purchases | 1,396 | 1,658 | ||||
Reclassifications from loans held-for-sale | 1 | 0 | ||||
Reclassifications to loans held-for-sale | 1,647 | 3,809 | ||||
Sales | 1,560 | 3,696 | ||||
Bank | Consumer | ||||||
Allowance for loan losses | ||||||
Balance at beginning of period | SFr 220 | 220 | 216 | |||
Net movements recognized in statements of operations | 20 | 31 | ||||
Gross write-offs | (39) | (31) | ||||
Recoveries | 5 | 8 | ||||
Net write-offs | (34) | (23) | ||||
Provisions for interest | 6 | (5) | ||||
Foreign currency translation impact and other adjustments, net | 1 | (4) | ||||
Balance at end of period | 213 | 215 | 213 | 215 | ||
of which individually evaluated for impairment | 172 | 172 | 172 | 172 | ||
of which collectively evaluated for impairment | 41 | 43 | 41 | 43 | ||
Gross loans held at amortized cost | ||||||
Gross loans held at amortized cost | 155,258 | 149,718 | 155,258 | 149,718 | SFr 152,277 | |
of which individually evaluated for impairment | 633 | 607 | 633 | 607 | ||
of which collectively evaluated for impairment | SFr 154,625 | SFr 149,111 | 154,625 | 149,111 | ||
Loans held at amortized cost | ||||||
Purchases | 0 | 0 | ||||
Reclassifications from loans held-for-sale | 0 | 0 | ||||
Reclassifications to loans held-for-sale | 1 | 0 | ||||
Sales | SFr 1 | SFr 0 |
Loans, allowance for loan los97
Loans, allowance for loan losses and credit quality - Counterparty rating (Details 3) - CHF (SFr) SFr in Millions | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Jun. 30, 2017 |
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | SFr 272,969 | SFr 270,112 | SFr 264,830 | SFr 258,268 |
Value of collateral | 245,157 | 239,741 | ||
Investment grade | AAA to BBB | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 208,873 | 202,876 | ||
Value of collateral | 193,758 | 189,048 | ||
Non-investment grade | BB to C | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 62,086 | 59,971 | ||
Value of collateral | 49,991 | 49,271 | ||
Non-investment grade | D | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 2,010 | 1,983 | ||
Value of collateral | 1,408 | 1,422 | ||
Corporate and institutional | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 117,711 | 115,386 | 112,553 | 108,550 |
Corporate and institutional | Investment grade | AAA to BBB | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 71,354 | 68,135 | ||
Corporate and institutional | Non-investment grade | BB to C | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 44,942 | 42,986 | ||
Corporate and institutional | Non-investment grade | D | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 1,415 | 1,432 | ||
Corporate and institutional | Real estate | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 25,276 | 26,003 | ||
Corporate and institutional | Real estate | Investment grade | AAA to BBB | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 19,389 | 20,278 | ||
Corporate and institutional | Real estate | Non-investment grade | BB to C | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 5,766 | 5,640 | ||
Corporate and institutional | Real estate | Non-investment grade | D | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 121 | 85 | ||
Corporate and institutional | Commercial and industrial loans | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 80,762 | 76,025 | ||
Corporate and institutional | Commercial and industrial loans | Investment grade | AAA to BBB | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 42,332 | 39,475 | ||
Corporate and institutional | Commercial and industrial loans | Non-investment grade | BB to C | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 37,183 | 35,250 | ||
Corporate and institutional | Commercial and industrial loans | Non-investment grade | D | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 1,247 | 1,300 | ||
Corporate and institutional | Financial institutions | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 10,495 | 9,326 | ||
Corporate and institutional | Financial institutions | Investment grade | AAA to BBB | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 8,518 | 7,258 | ||
Corporate and institutional | Financial institutions | Non-investment grade | BB to C | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 1,930 | 2,022 | ||
Corporate and institutional | Financial institutions | Non-investment grade | D | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 47 | 46 | ||
Corporate and institutional | Governments and public institutions | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 1,178 | 1,199 | ||
Corporate and institutional | Governments and public institutions | Investment grade | AAA to BBB | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 1,115 | 1,124 | ||
Corporate and institutional | Governments and public institutions | Non-investment grade | BB to C | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 63 | 74 | ||
Corporate and institutional | Governments and public institutions | Non-investment grade | D | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 0 | 1 | ||
Consumer | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 155,258 | SFr 154,726 | 152,277 | 149,718 |
Consumer | Investment grade | AAA to BBB | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 137,519 | 134,741 | ||
Consumer | Non-investment grade | BB to C | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 17,144 | 16,985 | ||
Consumer | Non-investment grade | D | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 595 | 551 | ||
Consumer | Mortgages | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 107,085 | 106,039 | ||
Consumer | Mortgages | Investment grade | AAA to BBB | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 95,851 | 94,553 | ||
Consumer | Mortgages | Non-investment grade | BB to C | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 10,913 | 11,214 | ||
Consumer | Mortgages | Non-investment grade | D | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 321 | 272 | ||
Consumer | Loans collateralized by securities | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 44,025 | 42,016 | ||
Consumer | Loans collateralized by securities | Investment grade | AAA to BBB | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 39,944 | 38,387 | ||
Consumer | Loans collateralized by securities | Non-investment grade | BB to C | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 3,985 | 3,530 | ||
Consumer | Loans collateralized by securities | Non-investment grade | D | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 96 | 99 | ||
Consumer | Consumer finance | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 4,148 | 4,222 | ||
Consumer | Consumer finance | Investment grade | AAA to BBB | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 1,724 | 1,801 | ||
Consumer | Consumer finance | Non-investment grade | BB to C | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 2,246 | 2,241 | ||
Consumer | Consumer finance | Non-investment grade | D | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 178 | 180 | ||
Bank | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 278,486 | 268,917 | 261,769 | |
Value of collateral | 245,188 | 239,772 | ||
Bank | Investment grade | AAA to BBB | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 214,402 | 206,976 | ||
Value of collateral | 193,801 | 189,092 | ||
Bank | Non-investment grade | BB to C | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 62,086 | 59,971 | ||
Value of collateral | 49,991 | 49,271 | ||
Bank | Non-investment grade | D | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 1,998 | 1,970 | ||
Value of collateral | 1,396 | 1,409 | ||
Bank | Corporate and institutional | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 123,228 | 116,640 | 112,051 | |
Bank | Corporate and institutional | Investment grade | AAA to BBB | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 76,883 | 72,235 | ||
Bank | Corporate and institutional | Non-investment grade | BB to C | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 44,942 | 42,986 | ||
Bank | Corporate and institutional | Non-investment grade | D | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 1,403 | 1,419 | ||
Bank | Corporate and institutional | Real estate | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 25,276 | 26,003 | ||
Bank | Corporate and institutional | Real estate | Investment grade | AAA to BBB | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 19,389 | 20,278 | ||
Bank | Corporate and institutional | Real estate | Non-investment grade | BB to C | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 5,766 | 5,640 | ||
Bank | Corporate and institutional | Real estate | Non-investment grade | D | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 121 | 85 | ||
Bank | Corporate and institutional | Commercial and industrial loans | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 81,353 | 76,147 | ||
Bank | Corporate and institutional | Commercial and industrial loans | Investment grade | AAA to BBB | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 42,935 | 39,610 | ||
Bank | Corporate and institutional | Commercial and industrial loans | Non-investment grade | BB to C | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 37,183 | 35,250 | ||
Bank | Corporate and institutional | Commercial and industrial loans | Non-investment grade | D | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 1,235 | 1,287 | ||
Bank | Corporate and institutional | Financial institutions | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 15,421 | 13,291 | ||
Bank | Corporate and institutional | Financial institutions | Investment grade | AAA to BBB | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 13,444 | 11,223 | ||
Bank | Corporate and institutional | Financial institutions | Non-investment grade | BB to C | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 1,930 | 2,022 | ||
Bank | Corporate and institutional | Financial institutions | Non-investment grade | D | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 47 | 46 | ||
Bank | Corporate and institutional | Governments and public institutions | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 1,178 | 1,199 | ||
Bank | Corporate and institutional | Governments and public institutions | Investment grade | AAA to BBB | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 1,115 | 1,124 | ||
Bank | Corporate and institutional | Governments and public institutions | Non-investment grade | BB to C | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 63 | 74 | ||
Bank | Corporate and institutional | Governments and public institutions | Non-investment grade | D | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 0 | 1 | ||
Bank | Consumer | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 155,258 | 152,277 | SFr 149,718 | |
Bank | Consumer | Investment grade | AAA to BBB | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 137,519 | 134,741 | ||
Bank | Consumer | Non-investment grade | BB to C | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 17,144 | 16,985 | ||
Bank | Consumer | Non-investment grade | D | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 595 | 551 | ||
Bank | Consumer | Mortgages | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 107,085 | 106,039 | ||
Bank | Consumer | Mortgages | Investment grade | AAA to BBB | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 95,851 | 94,553 | ||
Bank | Consumer | Mortgages | Non-investment grade | BB to C | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 10,913 | 11,214 | ||
Bank | Consumer | Mortgages | Non-investment grade | D | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 321 | 272 | ||
Bank | Consumer | Loans collateralized by securities | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 44,025 | 42,016 | ||
Bank | Consumer | Loans collateralized by securities | Investment grade | AAA to BBB | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 39,944 | 38,387 | ||
Bank | Consumer | Loans collateralized by securities | Non-investment grade | BB to C | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 3,985 | 3,530 | ||
Bank | Consumer | Loans collateralized by securities | Non-investment grade | D | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 96 | 99 | ||
Bank | Consumer | Consumer finance | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 4,148 | 4,222 | ||
Bank | Consumer | Consumer finance | Investment grade | AAA to BBB | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 1,724 | 1,801 | ||
Bank | Consumer | Consumer finance | Non-investment grade | BB to C | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 2,246 | 2,241 | ||
Bank | Consumer | Consumer finance | Non-investment grade | D | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | SFr 178 | SFr 180 |
Loans, allowance for loan los98
Loans, allowance for loan losses and credit quality - Aging analysis (Details 4) - CHF (SFr) SFr in Millions | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Jun. 30, 2017 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, current | SFr 270,286 | SFr 262,103 | ||
Gross loans held at amortized cost, past due | 2,683 | 2,727 | ||
Gross loans held at amortized cost | 272,969 | SFr 270,112 | 264,830 | SFr 258,268 |
Past due up to 30 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 1,063 | 1,236 | ||
Past due 31 - 60 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 202 | 119 | ||
Past due 61 - 90 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 159 | 272 | ||
Past due more than 90 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 1,259 | 1,100 | ||
Corporate and institutional | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, current | 116,142 | 110,846 | ||
Gross loans held at amortized cost, past due | 1,569 | 1,707 | ||
Gross loans held at amortized cost | 117,711 | 115,386 | 112,553 | 108,550 |
Corporate and institutional | Past due up to 30 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 559 | 800 | ||
Corporate and institutional | Past due 31 - 60 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 138 | 53 | ||
Corporate and institutional | Past due 61 - 90 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 103 | 218 | ||
Corporate and institutional | Past due more than 90 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 769 | 636 | ||
Corporate and institutional | Real estate | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, current | 25,184 | 25,871 | ||
Gross loans held at amortized cost, past due | 92 | 132 | ||
Gross loans held at amortized cost | 25,276 | 26,003 | ||
Corporate and institutional | Real estate | Past due up to 30 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 20 | 37 | ||
Corporate and institutional | Real estate | Past due 31 - 60 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 6 | 12 | ||
Corporate and institutional | Real estate | Past due 61 - 90 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 1 | 15 | ||
Corporate and institutional | Real estate | Past due more than 90 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 65 | 68 | ||
Corporate and institutional | Commercial and industrial loans | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, current | 79,504 | 74,831 | ||
Gross loans held at amortized cost, past due | 1,258 | 1,194 | ||
Gross loans held at amortized cost | 80,762 | 76,025 | ||
Corporate and institutional | Commercial and industrial loans | Past due up to 30 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 372 | 429 | ||
Corporate and institutional | Commercial and industrial loans | Past due 31 - 60 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 128 | 40 | ||
Corporate and institutional | Commercial and industrial loans | Past due 61 - 90 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 98 | 201 | ||
Corporate and institutional | Commercial and industrial loans | Past due more than 90 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 660 | 524 | ||
Corporate and institutional | Financial institutions | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, current | 10,279 | 8,947 | ||
Gross loans held at amortized cost, past due | 216 | 379 | ||
Gross loans held at amortized cost | 10,495 | 9,326 | ||
Corporate and institutional | Financial institutions | Past due up to 30 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 164 | 333 | ||
Corporate and institutional | Financial institutions | Past due 31 - 60 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 4 | 1 | ||
Corporate and institutional | Financial institutions | Past due 61 - 90 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 4 | 2 | ||
Corporate and institutional | Financial institutions | Past due more than 90 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 44 | 43 | ||
Corporate and institutional | Governments and public institutions | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, current | 1,175 | 1,197 | ||
Gross loans held at amortized cost, past due | 3 | 2 | ||
Gross loans held at amortized cost | 1,178 | 1,199 | ||
Corporate and institutional | Governments and public institutions | Past due up to 30 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 3 | 1 | ||
Corporate and institutional | Governments and public institutions | Past due 31 - 60 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 0 | 0 | ||
Corporate and institutional | Governments and public institutions | Past due 61 - 90 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 0 | 0 | ||
Corporate and institutional | Governments and public institutions | Past due more than 90 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 0 | 1 | ||
Consumer | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, current | 154,144 | 151,257 | ||
Gross loans held at amortized cost, past due | 1,114 | 1,020 | ||
Gross loans held at amortized cost | 155,258 | SFr 154,726 | 152,277 | 149,718 |
Consumer | Past due up to 30 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 504 | 436 | ||
Consumer | Past due 31 - 60 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 64 | 66 | ||
Consumer | Past due 61 - 90 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 56 | 54 | ||
Consumer | Past due more than 90 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 490 | 464 | ||
Consumer | Mortgages | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, current | 106,648 | 105,689 | ||
Gross loans held at amortized cost, past due | 437 | 350 | ||
Gross loans held at amortized cost | 107,085 | 106,039 | ||
Consumer | Mortgages | Past due up to 30 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 157 | 102 | ||
Consumer | Mortgages | Past due 31 - 60 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 20 | 27 | ||
Consumer | Mortgages | Past due 61 - 90 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 11 | 14 | ||
Consumer | Mortgages | Past due more than 90 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 249 | 207 | ||
Consumer | Loans collateralized by securities | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, current | 43,921 | 41,867 | ||
Gross loans held at amortized cost, past due | 104 | 149 | ||
Gross loans held at amortized cost | 44,025 | 42,016 | ||
Consumer | Loans collateralized by securities | Past due up to 30 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 3 | 37 | ||
Consumer | Loans collateralized by securities | Past due 31 - 60 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 0 | 0 | ||
Consumer | Loans collateralized by securities | Past due 61 - 90 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 2 | 0 | ||
Consumer | Loans collateralized by securities | Past due more than 90 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 99 | 112 | ||
Consumer | Consumer finance | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, current | 3,575 | 3,701 | ||
Gross loans held at amortized cost, past due | 573 | 521 | ||
Gross loans held at amortized cost | 4,148 | 4,222 | ||
Consumer | Consumer finance | Past due up to 30 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 344 | 297 | ||
Consumer | Consumer finance | Past due 31 - 60 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 44 | 39 | ||
Consumer | Consumer finance | Past due 61 - 90 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 43 | 40 | ||
Consumer | Consumer finance | Past due more than 90 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 142 | 145 | ||
Bank | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, current | 275,815 | 266,203 | ||
Gross loans held at amortized cost, past due | 2,671 | 2,714 | ||
Gross loans held at amortized cost | 278,486 | 268,917 | 261,769 | |
Bank | Past due up to 30 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 1,063 | 1,236 | ||
Bank | Past due 31 - 60 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 202 | 119 | ||
Bank | Past due 61 - 90 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 159 | 272 | ||
Bank | Past due more than 90 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 1,247 | 1,087 | ||
Bank | Corporate and institutional | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, current | 121,671 | 114,946 | ||
Gross loans held at amortized cost, past due | 1,557 | 1,694 | ||
Gross loans held at amortized cost | 123,228 | 116,640 | 112,051 | |
Bank | Corporate and institutional | Past due up to 30 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 559 | 800 | ||
Bank | Corporate and institutional | Past due 31 - 60 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 138 | 53 | ||
Bank | Corporate and institutional | Past due 61 - 90 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 103 | 218 | ||
Bank | Corporate and institutional | Past due more than 90 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 757 | 623 | ||
Bank | Corporate and institutional | Real estate | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, current | 25,184 | 25,871 | ||
Gross loans held at amortized cost, past due | 92 | 132 | ||
Gross loans held at amortized cost | 25,276 | 26,003 | ||
Bank | Corporate and institutional | Real estate | Past due up to 30 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 20 | 37 | ||
Bank | Corporate and institutional | Real estate | Past due 31 - 60 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 6 | 12 | ||
Bank | Corporate and institutional | Real estate | Past due 61 - 90 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 1 | 15 | ||
Bank | Corporate and institutional | Real estate | Past due more than 90 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 65 | 68 | ||
Bank | Corporate and institutional | Commercial and industrial loans | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, current | 80,107 | 74,966 | ||
Gross loans held at amortized cost, past due | 1,246 | 1,181 | ||
Gross loans held at amortized cost | 81,353 | 76,147 | ||
Bank | Corporate and institutional | Commercial and industrial loans | Past due up to 30 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 372 | 429 | ||
Bank | Corporate and institutional | Commercial and industrial loans | Past due 31 - 60 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 128 | 40 | ||
Bank | Corporate and institutional | Commercial and industrial loans | Past due 61 - 90 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 98 | 201 | ||
Bank | Corporate and institutional | Commercial and industrial loans | Past due more than 90 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 648 | 511 | ||
Bank | Corporate and institutional | Financial institutions | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, current | 15,205 | 12,912 | ||
Gross loans held at amortized cost, past due | 216 | 379 | ||
Gross loans held at amortized cost | 15,421 | 13,291 | ||
Bank | Corporate and institutional | Financial institutions | Past due up to 30 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 164 | 333 | ||
Bank | Corporate and institutional | Financial institutions | Past due 31 - 60 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 4 | 1 | ||
Bank | Corporate and institutional | Financial institutions | Past due 61 - 90 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 4 | 2 | ||
Bank | Corporate and institutional | Financial institutions | Past due more than 90 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 44 | 43 | ||
Bank | Corporate and institutional | Governments and public institutions | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, current | 1,175 | 1,197 | ||
Gross loans held at amortized cost, past due | 3 | 2 | ||
Gross loans held at amortized cost | 1,178 | 1,199 | ||
Bank | Corporate and institutional | Governments and public institutions | Past due up to 30 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 3 | 1 | ||
Bank | Corporate and institutional | Governments and public institutions | Past due 31 - 60 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 0 | 0 | ||
Bank | Corporate and institutional | Governments and public institutions | Past due 61 - 90 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 0 | 0 | ||
Bank | Corporate and institutional | Governments and public institutions | Past due more than 90 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 0 | 1 | ||
Bank | Consumer | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, current | 154,144 | 151,257 | ||
Gross loans held at amortized cost, past due | 1,114 | 1,020 | ||
Gross loans held at amortized cost | 155,258 | 152,277 | SFr 149,718 | |
Bank | Consumer | Past due up to 30 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 504 | 436 | ||
Bank | Consumer | Past due 31 - 60 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 64 | 66 | ||
Bank | Consumer | Past due 61 - 90 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 56 | 54 | ||
Bank | Consumer | Past due more than 90 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 490 | 464 | ||
Bank | Consumer | Mortgages | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, current | 106,648 | 105,689 | ||
Gross loans held at amortized cost, past due | 437 | 350 | ||
Gross loans held at amortized cost | 107,085 | 106,039 | ||
Bank | Consumer | Mortgages | Past due up to 30 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 157 | 102 | ||
Bank | Consumer | Mortgages | Past due 31 - 60 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 20 | 27 | ||
Bank | Consumer | Mortgages | Past due 61 - 90 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 11 | 14 | ||
Bank | Consumer | Mortgages | Past due more than 90 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 249 | 207 | ||
Bank | Consumer | Loans collateralized by securities | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, current | 43,921 | 41,867 | ||
Gross loans held at amortized cost, past due | 104 | 149 | ||
Gross loans held at amortized cost | 44,025 | 42,016 | ||
Bank | Consumer | Loans collateralized by securities | Past due up to 30 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 3 | 37 | ||
Bank | Consumer | Loans collateralized by securities | Past due 31 - 60 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 0 | 0 | ||
Bank | Consumer | Loans collateralized by securities | Past due 61 - 90 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 2 | 0 | ||
Bank | Consumer | Loans collateralized by securities | Past due more than 90 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 99 | 112 | ||
Bank | Consumer | Consumer finance | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, current | 3,575 | 3,701 | ||
Gross loans held at amortized cost, past due | 573 | 521 | ||
Gross loans held at amortized cost | 4,148 | 4,222 | ||
Bank | Consumer | Consumer finance | Past due up to 30 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 344 | 297 | ||
Bank | Consumer | Consumer finance | Past due 31 - 60 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 44 | 39 | ||
Bank | Consumer | Consumer finance | Past due 61 - 90 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 43 | 40 | ||
Bank | Consumer | Consumer finance | Past due more than 90 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | SFr 142 | SFr 145 |
Loans, allowance for loan los99
Loans, allowance for loan losses and credit quality - Impaired loans (Details 5) - CHF (SFr) SFr in Millions | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 |
Gross impaired loans by category | |||
Total non-performing and non-interest-earning loans | SFr 1,466 | SFr 1,342 | SFr 1,271 |
Restructured loans | 207 | 216 | 290 |
Potential problem loans | 429 | 408 | 549 |
Total other impaired loans | 636 | 624 | 839 |
Gross impaired loans | 2,102 | 1,966 | 2,110 |
Non-interest-earning loans | 309 | 267 | 223 |
Non-performing loans | 1,157 | SFr 1,075 | 1,048 |
Consumer mortgages secured by residential real estate for which formal foreclosure proceedings according to local requirements of the applicable jurisdiction were in process | 118 | 90 | |
Corporate and institutional | |||
Gross impaired loans by category | |||
Total non-performing and non-interest-earning loans | 917 | 721 | |
Restructured loans | 165 | 277 | |
Potential problem loans | 387 | 480 | |
Total other impaired loans | 552 | 757 | |
Gross impaired loans | 1,469 | 1,478 | |
Non-interest-earning loans | 280 | 181 | |
Non-performing loans | 637 | 540 | |
Corporate and institutional | Real estate | |||
Gross impaired loans by category | |||
Total non-performing and non-interest-earning loans | 105 | 77 | |
Restructured loans | 0 | 0 | |
Potential problem loans | 22 | 19 | |
Total other impaired loans | 22 | 19 | |
Gross impaired loans | 127 | 96 | |
Non-interest-earning loans | 4 | 4 | |
Non-performing loans | 101 | 73 | |
Corporate and institutional | Commercial and industrial loans | |||
Gross impaired loans by category | |||
Total non-performing and non-interest-earning loans | 768 | 599 | |
Restructured loans | 165 | 277 | |
Potential problem loans | 362 | 458 | |
Total other impaired loans | 527 | 735 | |
Gross impaired loans | 1,295 | 1,334 | |
Non-interest-earning loans | 233 | 134 | |
Non-performing loans | 535 | 465 | |
Corporate and institutional | Financial institutions | |||
Gross impaired loans by category | |||
Total non-performing and non-interest-earning loans | 44 | 44 | |
Restructured loans | 0 | 0 | |
Potential problem loans | 3 | 3 | |
Total other impaired loans | 3 | 3 | |
Gross impaired loans | 47 | 47 | |
Non-interest-earning loans | 43 | 43 | |
Non-performing loans | 1 | 1 | |
Corporate and institutional | Governments and public institutions | |||
Gross impaired loans by category | |||
Total non-performing and non-interest-earning loans | 1 | ||
Restructured loans | 0 | ||
Potential problem loans | 0 | ||
Total other impaired loans | 0 | ||
Gross impaired loans | 1 | ||
Non-interest-earning loans | 0 | ||
Non-performing loans | 1 | ||
Consumer | |||
Gross impaired loans by category | |||
Total non-performing and non-interest-earning loans | 549 | 550 | |
Restructured loans | 42 | 13 | |
Potential problem loans | 42 | 69 | |
Total other impaired loans | 84 | 82 | |
Gross impaired loans | 633 | 632 | |
Non-interest-earning loans | 29 | 42 | |
Non-performing loans | 520 | 508 | |
Consumer | Mortgages | |||
Gross impaired loans by category | |||
Total non-performing and non-interest-earning loans | 270 | 253 | |
Restructured loans | 42 | 13 | |
Potential problem loans | 39 | 66 | |
Total other impaired loans | 81 | 79 | |
Gross impaired loans | 351 | 332 | |
Non-interest-earning loans | 10 | 17 | |
Non-performing loans | 260 | 236 | |
Consumer | Loans collateralized by securities | |||
Gross impaired loans by category | |||
Total non-performing and non-interest-earning loans | 98 | 112 | |
Restructured loans | 0 | 0 | |
Potential problem loans | 2 | 2 | |
Total other impaired loans | 2 | 2 | |
Gross impaired loans | 100 | 114 | |
Non-interest-earning loans | 13 | 16 | |
Non-performing loans | 85 | 96 | |
Consumer | Consumer finance | |||
Gross impaired loans by category | |||
Total non-performing and non-interest-earning loans | 181 | 185 | |
Restructured loans | 0 | 0 | |
Potential problem loans | 1 | 1 | |
Total other impaired loans | 1 | 1 | |
Gross impaired loans | 182 | 186 | |
Non-interest-earning loans | 6 | 9 | |
Non-performing loans | 175 | 176 | |
Bank | |||
Gross impaired loans by category | |||
Total non-performing and non-interest-earning loans | 1,454 | 1,258 | |
Restructured loans | 207 | 290 | |
Potential problem loans | 429 | 549 | |
Total other impaired loans | 636 | 839 | |
Gross impaired loans | 2,090 | 2,097 | |
Non-interest-earning loans | 297 | 210 | |
Non-performing loans | 1,157 | 1,048 | |
Consumer mortgages secured by residential real estate for which formal foreclosure proceedings according to local requirements of the applicable jurisdiction were in process | 118 | 90 | |
Bank | Corporate and institutional | |||
Gross impaired loans by category | |||
Total non-performing and non-interest-earning loans | 905 | 708 | |
Restructured loans | 165 | 277 | |
Potential problem loans | 387 | 480 | |
Total other impaired loans | 552 | 757 | |
Gross impaired loans | 1,457 | 1,465 | |
Non-interest-earning loans | 268 | 168 | |
Non-performing loans | 637 | 540 | |
Bank | Corporate and institutional | Real estate | |||
Gross impaired loans by category | |||
Total non-performing and non-interest-earning loans | 105 | 77 | |
Restructured loans | 0 | 0 | |
Potential problem loans | 22 | 19 | |
Total other impaired loans | 22 | 19 | |
Gross impaired loans | 127 | 96 | |
Non-interest-earning loans | 4 | 4 | |
Non-performing loans | 101 | 73 | |
Bank | Corporate and institutional | Commercial and industrial loans | |||
Gross impaired loans by category | |||
Total non-performing and non-interest-earning loans | 756 | 586 | |
Restructured loans | 165 | 277 | |
Potential problem loans | 362 | 458 | |
Total other impaired loans | 527 | 735 | |
Gross impaired loans | 1,283 | 1,321 | |
Non-interest-earning loans | 221 | 121 | |
Non-performing loans | 535 | 465 | |
Bank | Corporate and institutional | Financial institutions | |||
Gross impaired loans by category | |||
Total non-performing and non-interest-earning loans | 44 | 44 | |
Restructured loans | 0 | 0 | |
Potential problem loans | 3 | 3 | |
Total other impaired loans | 3 | 3 | |
Gross impaired loans | 47 | 47 | |
Non-interest-earning loans | 43 | 43 | |
Non-performing loans | 1 | 1 | |
Bank | Corporate and institutional | Governments and public institutions | |||
Gross impaired loans by category | |||
Total non-performing and non-interest-earning loans | 1 | ||
Restructured loans | 0 | ||
Potential problem loans | 0 | ||
Total other impaired loans | 0 | ||
Gross impaired loans | 1 | ||
Non-interest-earning loans | 0 | ||
Non-performing loans | 1 | ||
Bank | Consumer | |||
Gross impaired loans by category | |||
Total non-performing and non-interest-earning loans | 549 | 550 | |
Restructured loans | 42 | 13 | |
Potential problem loans | 42 | 69 | |
Total other impaired loans | 84 | 82 | |
Gross impaired loans | 633 | 632 | |
Non-interest-earning loans | 29 | 42 | |
Non-performing loans | 520 | 508 | |
Bank | Consumer | Mortgages | |||
Gross impaired loans by category | |||
Total non-performing and non-interest-earning loans | 270 | 253 | |
Restructured loans | 42 | 13 | |
Potential problem loans | 39 | 66 | |
Total other impaired loans | 81 | 79 | |
Gross impaired loans | 351 | 332 | |
Non-interest-earning loans | 10 | 17 | |
Non-performing loans | 260 | 236 | |
Bank | Consumer | Loans collateralized by securities | |||
Gross impaired loans by category | |||
Total non-performing and non-interest-earning loans | 98 | 112 | |
Restructured loans | 0 | 0 | |
Potential problem loans | 2 | 2 | |
Total other impaired loans | 2 | 2 | |
Gross impaired loans | 100 | 114 | |
Non-interest-earning loans | 13 | 16 | |
Non-performing loans | 85 | 96 | |
Bank | Consumer | Consumer finance | |||
Gross impaired loans by category | |||
Total non-performing and non-interest-earning loans | 181 | 185 | |
Restructured loans | 0 | 0 | |
Potential problem loans | 1 | 1 | |
Total other impaired loans | 1 | 1 | |
Gross impaired loans | 182 | 186 | |
Non-interest-earning loans | 6 | 9 | |
Non-performing loans | SFr 175 | SFr 176 |
Loans, allowance for loan lo100
Loans, allowance for loan losses and credit quality - Impaired loans details (Details 6) - CHF (SFr) SFr in Millions | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 |
Recorded investment | |||
Recorded investment, with a specific allowance | SFr 1,673 | SFr 1,676 | |
Recorded investment, without specific allowance | 429 | 434 | |
Gross impaired loans | 2,102 | SFr 1,966 | 2,110 |
Unpaid principal balance | |||
Unpaid principal balance, with a specific allowance | 1,585 | 1,581 | |
Unpaid principal balance, without specific allowance | 429 | 434 | |
Unpaid principal balance | 2,014 | 2,015 | |
Associated specific allowance | 646 | 654 | |
Corporate and institutional | |||
Recorded investment | |||
Recorded investment, with a specific allowance | 1,124 | 1,131 | |
Recorded investment, without specific allowance | 345 | 347 | |
Gross impaired loans | 1,469 | 1,478 | |
Unpaid principal balance | |||
Unpaid principal balance, with a specific allowance | 1,088 | 1,085 | |
Unpaid principal balance, without specific allowance | 345 | 347 | |
Unpaid principal balance | 1,433 | 1,432 | |
Associated specific allowance | 474 | 475 | |
Corporate and institutional | Real estate | |||
Recorded investment | |||
Recorded investment, with a specific allowance | 123 | 86 | |
Recorded investment, without specific allowance | 4 | 10 | |
Gross impaired loans | 127 | 96 | |
Unpaid principal balance | |||
Unpaid principal balance, with a specific allowance | 116 | 79 | |
Unpaid principal balance, without specific allowance | 4 | 10 | |
Associated specific allowance | 11 | 11 | |
Corporate and institutional | Commercial and industrial loans | |||
Recorded investment | |||
Recorded investment, with a specific allowance | 954 | 997 | |
Recorded investment, without specific allowance | 341 | 337 | |
Gross impaired loans | 1,295 | 1,334 | |
Unpaid principal balance | |||
Unpaid principal balance, with a specific allowance | 925 | 959 | |
Unpaid principal balance, without specific allowance | 341 | 337 | |
Associated specific allowance | 425 | 427 | |
Corporate and institutional | Financial institutions | |||
Recorded investment | |||
Recorded investment, with a specific allowance | 47 | 47 | |
Gross impaired loans | 47 | 47 | |
Unpaid principal balance | |||
Unpaid principal balance, with a specific allowance | 47 | 46 | |
Associated specific allowance | 38 | 37 | |
Corporate and institutional | Governments and public institutions | |||
Recorded investment | |||
Recorded investment, with a specific allowance | 0 | 1 | |
Gross impaired loans | 1 | ||
Unpaid principal balance | |||
Unpaid principal balance, with a specific allowance | 0 | 1 | |
Associated specific allowance | 0 | 0 | |
Consumer | |||
Recorded investment | |||
Recorded investment, with a specific allowance | 549 | 545 | |
Recorded investment, without specific allowance | 84 | 87 | |
Gross impaired loans | 633 | 632 | |
Unpaid principal balance | |||
Unpaid principal balance, with a specific allowance | 497 | 496 | |
Unpaid principal balance, without specific allowance | 84 | 87 | |
Unpaid principal balance | 581 | 583 | |
Associated specific allowance | 172 | 179 | |
Consumer | Mortgages | |||
Recorded investment | |||
Recorded investment, with a specific allowance | 270 | 254 | |
Recorded investment, without specific allowance | 81 | 78 | |
Gross impaired loans | 351 | 332 | |
Unpaid principal balance | |||
Unpaid principal balance, with a specific allowance | 256 | 239 | |
Unpaid principal balance, without specific allowance | 81 | 78 | |
Associated specific allowance | 29 | 36 | |
Consumer | Loans collateralized by securities | |||
Recorded investment | |||
Recorded investment, with a specific allowance | 100 | 111 | |
Recorded investment, without specific allowance | 0 | 3 | |
Gross impaired loans | 100 | 114 | |
Unpaid principal balance | |||
Unpaid principal balance, with a specific allowance | 83 | 97 | |
Unpaid principal balance, without specific allowance | 0 | 3 | |
Associated specific allowance | 52 | 49 | |
Consumer | Consumer finance | |||
Recorded investment | |||
Recorded investment, with a specific allowance | 179 | 180 | |
Recorded investment, without specific allowance | 3 | 6 | |
Gross impaired loans | 182 | 186 | |
Unpaid principal balance | |||
Unpaid principal balance, with a specific allowance | 158 | 160 | |
Unpaid principal balance, without specific allowance | 3 | 6 | |
Associated specific allowance | 91 | 94 | |
Bank | |||
Recorded investment | |||
Recorded investment, with a specific allowance | 1,661 | 1,663 | |
Recorded investment, without specific allowance | 429 | 434 | |
Gross impaired loans | 2,090 | 2,097 | |
Unpaid principal balance | |||
Unpaid principal balance, with a specific allowance | 1,574 | 1,569 | |
Unpaid principal balance, without specific allowance | 429 | 434 | |
Unpaid principal balance | 2,003 | 2,003 | |
Associated specific allowance | 645 | 653 | |
Bank | Corporate and institutional | |||
Recorded investment | |||
Recorded investment, with a specific allowance | 1,112 | 1,118 | |
Recorded investment, without specific allowance | 345 | 347 | |
Gross impaired loans | 1,457 | 1,465 | |
Unpaid principal balance | |||
Unpaid principal balance, with a specific allowance | 1,077 | 1,073 | |
Unpaid principal balance, without specific allowance | 345 | 347 | |
Unpaid principal balance | 1,422 | 1,420 | |
Associated specific allowance | 473 | 474 | |
Bank | Corporate and institutional | Real estate | |||
Recorded investment | |||
Recorded investment, with a specific allowance | 123 | 86 | |
Recorded investment, without specific allowance | 4 | 10 | |
Gross impaired loans | 127 | 96 | |
Unpaid principal balance | |||
Unpaid principal balance, with a specific allowance | 116 | 79 | |
Unpaid principal balance, without specific allowance | 4 | 10 | |
Associated specific allowance | 11 | 11 | |
Bank | Corporate and institutional | Commercial and industrial loans | |||
Recorded investment | |||
Recorded investment, with a specific allowance | 942 | 984 | |
Recorded investment, without specific allowance | 341 | 337 | |
Gross impaired loans | 1,283 | 1,321 | |
Unpaid principal balance | |||
Unpaid principal balance, with a specific allowance | 914 | 947 | |
Unpaid principal balance, without specific allowance | 341 | 337 | |
Associated specific allowance | 424 | 426 | |
Bank | Corporate and institutional | Financial institutions | |||
Recorded investment | |||
Recorded investment, with a specific allowance | 47 | 47 | |
Gross impaired loans | 47 | 47 | |
Unpaid principal balance | |||
Unpaid principal balance, with a specific allowance | 47 | 46 | |
Associated specific allowance | 38 | 37 | |
Bank | Corporate and institutional | Governments and public institutions | |||
Recorded investment | |||
Recorded investment, with a specific allowance | 0 | 1 | |
Gross impaired loans | 1 | ||
Unpaid principal balance | |||
Unpaid principal balance, with a specific allowance | 0 | 1 | |
Associated specific allowance | 0 | 0 | |
Bank | Consumer | |||
Recorded investment | |||
Recorded investment, with a specific allowance | 549 | 545 | |
Recorded investment, without specific allowance | 84 | 87 | |
Gross impaired loans | 633 | 632 | |
Unpaid principal balance | |||
Unpaid principal balance, with a specific allowance | 497 | 496 | |
Unpaid principal balance, without specific allowance | 84 | 87 | |
Unpaid principal balance | 581 | 583 | |
Associated specific allowance | 172 | 179 | |
Bank | Consumer | Mortgages | |||
Recorded investment | |||
Recorded investment, with a specific allowance | 270 | 254 | |
Recorded investment, without specific allowance | 81 | 78 | |
Gross impaired loans | 351 | 332 | |
Unpaid principal balance | |||
Unpaid principal balance, with a specific allowance | 256 | 239 | |
Unpaid principal balance, without specific allowance | 81 | 78 | |
Associated specific allowance | 29 | 36 | |
Bank | Consumer | Loans collateralized by securities | |||
Recorded investment | |||
Recorded investment, with a specific allowance | 100 | 111 | |
Recorded investment, without specific allowance | 0 | 3 | |
Gross impaired loans | 100 | 114 | |
Unpaid principal balance | |||
Unpaid principal balance, with a specific allowance | 83 | 97 | |
Unpaid principal balance, without specific allowance | 0 | 3 | |
Associated specific allowance | 52 | 49 | |
Bank | Consumer | Consumer finance | |||
Recorded investment | |||
Recorded investment, with a specific allowance | 179 | 180 | |
Recorded investment, without specific allowance | 3 | 6 | |
Gross impaired loans | 182 | 186 | |
Unpaid principal balance | |||
Unpaid principal balance, with a specific allowance | 158 | 160 | |
Unpaid principal balance, without specific allowance | 3 | 6 | |
Associated specific allowance | SFr 91 | SFr 94 |
Loans, allowance for loan lo101
Loans, allowance for loan losses and credit quality - Impaired loans details (Details 7) - 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 | |
Average recorded investment | |||||
Average recorded investment, with a specific allowance | SFr 1,631 | SFr 1,569 | SFr 1,777 | SFr 1,603 | SFr 1,846 |
Average recorded investment, without specific allowance | 391 | 416 | 423 | 403 | 405 |
Average recorded investment | 2,022 | 1,985 | 2,200 | 2,006 | 2,251 |
Interest income recognized | |||||
Interest income recognized, with a specific allowance | 4 | 8 | 5 | 12 | 10 |
Interest income recognized, without specific allowance | 4 | 4 | 4 | 8 | 7 |
Interest income recognized | 8 | 12 | 9 | 20 | 17 |
Interest income recognized on a cash basis | |||||
Interest income recognized on a cash basis, with a specific allowance | 1 | 5 | 3 | 6 | 5 |
Interest income recognized on a cash basis, without specific allowance | 0 | 0 | 1 | 0 | 1 |
Interest income recognized on a cash basis | 1 | 5 | 4 | 6 | 6 |
Corporate and institutional | |||||
Average recorded investment | |||||
Average recorded investment, with a specific allowance | 1,090 | 1,036 | 1,263 | 1,065 | 1,338 |
Average recorded investment, without specific allowance | 280 | 325 | 326 | 303 | 309 |
Average recorded investment | 1,370 | 1,361 | 1,589 | 1,368 | 1,647 |
Interest income recognized | |||||
Interest income recognized, with a specific allowance | 2 | 7 | 3 | 9 | 8 |
Interest income recognized, without specific allowance | 3 | 3 | 3 | 6 | 5 |
Interest income recognized | 5 | 10 | 6 | 15 | 13 |
Interest income recognized on a cash basis | |||||
Interest income recognized on a cash basis, with a specific allowance | 0 | 4 | 1 | 4 | 3 |
Interest income recognized on a cash basis, without specific allowance | 0 | 0 | 1 | 0 | 1 |
Interest income recognized on a cash basis | 0 | 4 | 2 | 4 | 4 |
Corporate and institutional | Real estate | |||||
Average recorded investment | |||||
Average recorded investment, with a specific allowance | 94 | 87 | 71 | 90 | 71 |
Average recorded investment, without specific allowance | 3 | 2 | 37 | 3 | 31 |
Interest income recognized | |||||
Interest income recognized, with a specific allowance | 0 | 0 | 0 | 0 | 0 |
Interest income recognized, without specific allowance | 1 | 0 | 0 | 1 | 0 |
Interest income recognized on a cash basis | |||||
Interest income recognized on a cash basis, with a specific allowance | 0 | 0 | 0 | 0 | 0 |
Interest income recognized on a cash basis, without specific allowance | 0 | 0 | 0 | 0 | 0 |
Corporate and institutional | Commercial and industrial loans | |||||
Average recorded investment | |||||
Average recorded investment, with a specific allowance | 949 | 903 | 1,110 | 928 | 1,167 |
Average recorded investment, without specific allowance | 277 | 323 | 289 | 300 | 278 |
Interest income recognized | |||||
Interest income recognized, with a specific allowance | 2 | 7 | 3 | 9 | 8 |
Interest income recognized, without specific allowance | 2 | 3 | 3 | 5 | 5 |
Interest income recognized on a cash basis | |||||
Interest income recognized on a cash basis, with a specific allowance | 0 | 4 | 1 | 4 | 3 |
Interest income recognized on a cash basis, without specific allowance | 0 | 0 | 1 | 0 | 1 |
Corporate and institutional | Financial institutions | |||||
Average recorded investment | |||||
Average recorded investment, with a specific allowance | 47 | 45 | 76 | 46 | 92 |
Interest income recognized | |||||
Interest income recognized, with a specific allowance | 0 | 0 | 0 | 0 | 0 |
Interest income recognized on a cash basis | |||||
Interest income recognized on a cash basis, with a specific allowance | 0 | 0 | 0 | 0 | 0 |
Corporate and institutional | Governments and public institutions | |||||
Average recorded investment | |||||
Average recorded investment, with a specific allowance | 0 | 1 | 6 | 1 | 8 |
Interest income recognized | |||||
Interest income recognized, with a specific allowance | 0 | 0 | 0 | 0 | 0 |
Interest income recognized on a cash basis | |||||
Interest income recognized on a cash basis, with a specific allowance | 0 | 0 | 0 | 0 | 0 |
Consumer | |||||
Average recorded investment | |||||
Average recorded investment, with a specific allowance | 541 | 533 | 514 | 538 | 508 |
Average recorded investment, without specific allowance | 111 | 91 | 97 | 100 | 96 |
Average recorded investment | 652 | 624 | 611 | 638 | 604 |
Interest income recognized | |||||
Interest income recognized, with a specific allowance | 2 | 1 | 2 | 3 | 2 |
Interest income recognized, without specific allowance | 1 | 1 | 1 | 2 | 2 |
Interest income recognized | 3 | 2 | 3 | 5 | 4 |
Interest income recognized on a cash basis | |||||
Interest income recognized on a cash basis, with a specific allowance | 1 | 1 | 2 | 2 | 2 |
Interest income recognized on a cash basis, without specific allowance | 0 | 0 | 0 | 0 | 0 |
Interest income recognized on a cash basis | 1 | 1 | 2 | 2 | 2 |
Consumer | Mortgages | |||||
Average recorded investment | |||||
Average recorded investment, with a specific allowance | 266 | 255 | 233 | 260 | 217 |
Average recorded investment, without specific allowance | 109 | 87 | 87 | 97 | 81 |
Interest income recognized | |||||
Interest income recognized, with a specific allowance | 1 | 0 | 1 | 1 | 1 |
Interest income recognized, without specific allowance | 1 | 1 | 1 | 2 | 2 |
Interest income recognized on a cash basis | |||||
Interest income recognized on a cash basis, with a specific allowance | 0 | 0 | 1 | 0 | 1 |
Interest income recognized on a cash basis, without specific allowance | 0 | 0 | 0 | 0 | 0 |
Consumer | Loans collateralized by securities | |||||
Average recorded investment | |||||
Average recorded investment, with a specific allowance | 98 | 102 | 112 | 101 | 121 |
Average recorded investment, without specific allowance | 0 | 1 | 9 | 0 | 11 |
Interest income recognized | |||||
Interest income recognized, with a specific allowance | 0 | 1 | 0 | 1 | 0 |
Interest income recognized, without specific allowance | 0 | 0 | 0 | 0 | 0 |
Interest income recognized on a cash basis | |||||
Interest income recognized on a cash basis, with a specific allowance | 0 | 1 | 0 | 1 | 0 |
Interest income recognized on a cash basis, without specific allowance | 0 | 0 | 0 | 0 | 0 |
Consumer | Consumer finance | |||||
Average recorded investment | |||||
Average recorded investment, with a specific allowance | 177 | 176 | 169 | 177 | 170 |
Average recorded investment, without specific allowance | 2 | 3 | 1 | 3 | 4 |
Interest income recognized | |||||
Interest income recognized, with a specific allowance | 1 | 0 | 1 | 1 | 1 |
Interest income recognized, without specific allowance | 0 | 0 | 0 | 0 | 0 |
Interest income recognized on a cash basis | |||||
Interest income recognized on a cash basis, with a specific allowance | 1 | 0 | 1 | 1 | 1 |
Interest income recognized on a cash basis, without specific allowance | SFr 0 | SFr 0 | SFr 0 | 0 | 0 |
Bank | |||||
Average recorded investment | |||||
Average recorded investment, with a specific allowance | 1,590 | 1,834 | |||
Average recorded investment, without specific allowance | 403 | 405 | |||
Average recorded investment | 1,993 | 2,239 | |||
Interest income recognized | |||||
Interest income recognized, with a specific allowance | 12 | 10 | |||
Interest income recognized, without specific allowance | 8 | 7 | |||
Interest income recognized | 20 | 17 | |||
Interest income recognized on a cash basis | |||||
Interest income recognized on a cash basis, with a specific allowance | 6 | 5 | |||
Interest income recognized on a cash basis, without specific allowance | 0 | 1 | |||
Interest income recognized on a cash basis | 6 | 6 | |||
Bank | Corporate and institutional | |||||
Average recorded investment | |||||
Average recorded investment, with a specific allowance | 1,052 | 1,326 | |||
Average recorded investment, without specific allowance | 303 | 309 | |||
Average recorded investment | 1,355 | 1,635 | |||
Interest income recognized | |||||
Interest income recognized, with a specific allowance | 9 | 8 | |||
Interest income recognized, without specific allowance | 6 | 5 | |||
Interest income recognized | 15 | 13 | |||
Interest income recognized on a cash basis | |||||
Interest income recognized on a cash basis, with a specific allowance | 4 | 3 | |||
Interest income recognized on a cash basis, without specific allowance | 0 | 1 | |||
Interest income recognized on a cash basis | 4 | 4 | |||
Bank | Corporate and institutional | Real estate | |||||
Average recorded investment | |||||
Average recorded investment, with a specific allowance | 90 | 71 | |||
Average recorded investment, without specific allowance | 3 | 31 | |||
Interest income recognized | |||||
Interest income recognized, with a specific allowance | 0 | 0 | |||
Interest income recognized, without specific allowance | 1 | 0 | |||
Interest income recognized on a cash basis | |||||
Interest income recognized on a cash basis, with a specific allowance | 0 | 0 | |||
Interest income recognized on a cash basis, without specific allowance | 0 | 0 | |||
Bank | Corporate and institutional | Commercial and industrial loans | |||||
Average recorded investment | |||||
Average recorded investment, with a specific allowance | 915 | 1,155 | |||
Average recorded investment, without specific allowance | 300 | 278 | |||
Interest income recognized | |||||
Interest income recognized, with a specific allowance | 9 | 8 | |||
Interest income recognized, without specific allowance | 5 | 5 | |||
Interest income recognized on a cash basis | |||||
Interest income recognized on a cash basis, with a specific allowance | 4 | 3 | |||
Interest income recognized on a cash basis, without specific allowance | 0 | 1 | |||
Bank | Corporate and institutional | Financial institutions | |||||
Average recorded investment | |||||
Average recorded investment, with a specific allowance | 46 | 92 | |||
Interest income recognized | |||||
Interest income recognized, with a specific allowance | 0 | 0 | |||
Interest income recognized on a cash basis | |||||
Interest income recognized on a cash basis, with a specific allowance | 0 | 0 | |||
Bank | Corporate and institutional | Governments and public institutions | |||||
Average recorded investment | |||||
Average recorded investment, with a specific allowance | 1 | 8 | |||
Interest income recognized | |||||
Interest income recognized, with a specific allowance | 0 | 0 | |||
Interest income recognized on a cash basis | |||||
Interest income recognized on a cash basis, with a specific allowance | 0 | 0 | |||
Bank | Consumer | |||||
Average recorded investment | |||||
Average recorded investment, with a specific allowance | 538 | 508 | |||
Average recorded investment, without specific allowance | 100 | 96 | |||
Average recorded investment | 638 | 604 | |||
Interest income recognized | |||||
Interest income recognized, with a specific allowance | 3 | 2 | |||
Interest income recognized, without specific allowance | 2 | 2 | |||
Interest income recognized | 5 | 4 | |||
Interest income recognized on a cash basis | |||||
Interest income recognized on a cash basis, with a specific allowance | 2 | 2 | |||
Interest income recognized on a cash basis, without specific allowance | 0 | 0 | |||
Interest income recognized on a cash basis | 2 | 2 | |||
Bank | Consumer | Mortgages | |||||
Average recorded investment | |||||
Average recorded investment, with a specific allowance | 260 | 217 | |||
Average recorded investment, without specific allowance | 97 | 81 | |||
Interest income recognized | |||||
Interest income recognized, with a specific allowance | 1 | 1 | |||
Interest income recognized, without specific allowance | 2 | 2 | |||
Interest income recognized on a cash basis | |||||
Interest income recognized on a cash basis, with a specific allowance | 0 | 1 | |||
Interest income recognized on a cash basis, without specific allowance | 0 | 0 | |||
Bank | Consumer | Loans collateralized by securities | |||||
Average recorded investment | |||||
Average recorded investment, with a specific allowance | 101 | 121 | |||
Average recorded investment, without specific allowance | 0 | 11 | |||
Interest income recognized | |||||
Interest income recognized, with a specific allowance | 1 | 0 | |||
Interest income recognized, without specific allowance | 0 | 0 | |||
Interest income recognized on a cash basis | |||||
Interest income recognized on a cash basis, with a specific allowance | 1 | 0 | |||
Interest income recognized on a cash basis, without specific allowance | 0 | 0 | |||
Bank | Consumer | Consumer finance | |||||
Average recorded investment | |||||
Average recorded investment, with a specific allowance | 177 | 170 | |||
Average recorded investment, without specific allowance | 3 | 4 | |||
Interest income recognized | |||||
Interest income recognized, with a specific allowance | 1 | 1 | |||
Interest income recognized, without specific allowance | 0 | 0 | |||
Interest income recognized on a cash basis | |||||
Interest income recognized on a cash basis, with a specific allowance | 1 | 1 | |||
Interest income recognized on a cash basis, without specific allowance | SFr 0 | SFr 0 |
Loans, allowance for loan lo102
Loans, allowance for loan losses and credit quality - Restructured loans (Details 8) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2018CHF (SFr)contract | Mar. 31, 2018CHF (SFr)contract | Jun. 30, 2017CHF (SFr)contract | Jun. 30, 2018CHF (SFr)contract | Jun. 30, 2017CHF (SFr)contract | |
Restructured loans | |||||
Restructured loans, Modifications, Number of contracts | contract | 5 | 3 | 5 | 8 | 9 |
Restructured loans, Modifications, Pre-Modification Recorded Investment | SFr 29 | SFr 15 | SFr 14 | SFr 44 | SFr 49 |
Restructured loans, Modifications, Post-Modification Recorded Investment | SFr 29 | SFr 14 | SFr 14 | SFr 43 | SFr 49 |
Restructured loans, subsequently defaulted, Number of contracts | contract | 0 | 0 | |||
Consumer | Mortgages | |||||
Restructured loans | |||||
Restructured loans, Modifications, Number of contracts | contract | 5 | 0 | 0 | 5 | 0 |
Restructured loans, Modifications, Pre-Modification Recorded Investment | SFr 29 | SFr 0 | SFr 0 | SFr 29 | SFr 0 |
Restructured loans, Modifications, Post-Modification Recorded Investment | SFr 29 | SFr 0 | SFr 0 | SFr 29 | SFr 0 |
Corporate and institutional | Commercial and industrial loans | |||||
Restructured loans | |||||
Restructured loans, Modifications, Number of contracts | contract | 0 | 3 | 5 | 3 | 9 |
Restructured loans, Modifications, Pre-Modification Recorded Investment | SFr 0 | SFr 15 | SFr 14 | SFr 15 | SFr 49 |
Restructured loans, Modifications, Post-Modification Recorded Investment | SFr 0 | SFr 14 | SFr 14 | SFr 14 | SFr 49 |
Restructured loans, subsequently defaulted, Number of contracts | contract | 1 | 7 | 8 | ||
Restructured loans, subsequently defaulted, Recorded Investment | SFr 36 | SFr 40 | SFr 76 | ||
Bank | |||||
Restructured loans | |||||
Restructured loans, Modifications, Number of contracts | contract | 8 | 9 | |||
Restructured loans, Modifications, Pre-Modification Recorded Investment | SFr 44 | SFr 49 | |||
Restructured loans, Modifications, Post-Modification Recorded Investment | SFr 43 | SFr 49 | |||
Restructured loans, subsequently defaulted, Number of contracts | contract | 0 | ||||
Bank | Consumer | Mortgages | |||||
Restructured loans | |||||
Restructured loans, Modifications, Number of contracts | contract | 5 | 0 | |||
Restructured loans, Modifications, Pre-Modification Recorded Investment | SFr 29 | SFr 0 | |||
Restructured loans, Modifications, Post-Modification Recorded Investment | SFr 29 | SFr 0 | |||
Bank | Corporate and institutional | Commercial and industrial loans | |||||
Restructured loans | |||||
Restructured loans, Modifications, Number of contracts | contract | 3 | 9 | |||
Restructured loans, Modifications, Pre-Modification Recorded Investment | SFr 15 | SFr 49 | |||
Restructured loans, Modifications, Post-Modification Recorded Investment | SFr 14 | SFr 49 | |||
Restructured loans, subsequently defaulted, Number of contracts | contract | 8 | ||||
Restructured loans, subsequently defaulted, Recorded Investment | SFr 76 |
Goodwill (Details)
Goodwill (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | |
Gross amount of goodwill | ||||
Balance at beginning of period | SFr 8,558 | SFr 8,633 | ||
Foreign currency translation impact | 130 | 55 | ||
Balance at end of period | 8,688 | 8,688 | ||
Accumulated impairment | ||||
Balance at beginning of period | 3,891 | 3,891 | ||
Balance at end of period | 3,891 | 3,891 | ||
Net book value | ||||
Net book value | 4,797 | 4,797 | SFr 4,667 | SFr 4,742 |
Operating Segments | Swiss Universal Bank | ||||
Gross amount of goodwill | ||||
Balance at beginning of period | 603 | 610 | ||
Foreign currency translation impact | 12 | 5 | ||
Balance at end of period | 615 | 615 | ||
Accumulated impairment | ||||
Balance at beginning of period | 0 | 0 | ||
Balance at end of period | 0 | 0 | ||
Net book value | ||||
Net book value | 615 | 615 | ||
Operating Segments | International Wealth Management | ||||
Gross amount of goodwill | ||||
Balance at beginning of period | 1,518 | 1,544 | ||
Foreign currency translation impact | 45 | 19 | ||
Balance at end of period | 1,563 | 1,563 | ||
Accumulated impairment | ||||
Balance at beginning of period | 0 | 0 | ||
Balance at end of period | 0 | 0 | ||
Net book value | ||||
Net book value | 1,563 | 1,563 | ||
Operating Segments | Asia Pacific | ||||
Gross amount of goodwill | ||||
Balance at beginning of period | 2,245 | 2,268 | ||
Foreign currency translation impact | 40 | 17 | ||
Balance at end of period | 2,285 | 2,285 | ||
Accumulated impairment | ||||
Balance at beginning of period | 772 | 772 | ||
Balance at end of period | 772 | 772 | ||
Net book value | ||||
Net book value | 1,513 | 1,513 | ||
Operating Segments | Global Markets | ||||
Gross amount of goodwill | ||||
Balance at beginning of period | 3,170 | 3,178 | ||
Foreign currency translation impact | 14 | 6 | ||
Balance at end of period | 3,184 | 3,184 | ||
Accumulated impairment | ||||
Balance at beginning of period | 2,719 | 2,719 | ||
Balance at end of period | 2,719 | 2,719 | ||
Net book value | ||||
Net book value | 465 | 465 | ||
Operating Segments | Investment Banking & Capital Markets | ||||
Gross amount of goodwill | ||||
Balance at beginning of period | 1,010 | 1,021 | ||
Foreign currency translation impact | 19 | 8 | ||
Balance at end of period | 1,029 | 1,029 | ||
Accumulated impairment | ||||
Balance at beginning of period | 388 | 388 | ||
Balance at end of period | 388 | 388 | ||
Net book value | ||||
Net book value | 641 | 641 | ||
Operating Segments | Strategic Resolution Unit | ||||
Gross amount of goodwill | ||||
Balance at beginning of period | 12 | 12 | ||
Foreign currency translation impact | 0 | 0 | ||
Balance at end of period | 12 | 12 | ||
Accumulated impairment | ||||
Balance at beginning of period | 12 | 12 | ||
Balance at end of period | 12 | 12 | ||
Net book value | ||||
Net book value | 0 | 0 | ||
Bank | ||||
Gross amount of goodwill | ||||
Balance at beginning of period | 7,927 | |||
Foreign currency translation impact | 49 | |||
Balance at end of period | 7,976 | 7,976 | ||
Accumulated impairment | ||||
Balance at beginning of period | 3,891 | |||
Balance at end of period | 3,891 | 3,891 | ||
Net book value | ||||
Net book value | 4,085 | 4,085 | SFr 4,036 | |
Bank | Operating Segments | Swiss Universal Bank | ||||
Gross amount of goodwill | ||||
Balance at beginning of period | 592 | |||
Foreign currency translation impact | 5 | |||
Balance at end of period | 597 | 597 | ||
Accumulated impairment | ||||
Balance at beginning of period | 0 | |||
Balance at end of period | 0 | 0 | ||
Net book value | ||||
Net book value | 597 | 597 | ||
Bank | Operating Segments | International Wealth Management | ||||
Gross amount of goodwill | ||||
Balance at beginning of period | 1,531 | |||
Foreign currency translation impact | 19 | |||
Balance at end of period | 1,550 | 1,550 | ||
Accumulated impairment | ||||
Balance at beginning of period | 0 | |||
Balance at end of period | 0 | 0 | ||
Net book value | ||||
Net book value | 1,550 | 1,550 | ||
Bank | Operating Segments | Asia Pacific | ||||
Gross amount of goodwill | ||||
Balance at beginning of period | 2,044 | |||
Foreign currency translation impact | 16 | |||
Balance at end of period | 2,060 | 2,060 | ||
Accumulated impairment | ||||
Balance at beginning of period | 772 | |||
Balance at end of period | 772 | 772 | ||
Net book value | ||||
Net book value | 1,288 | 1,288 | ||
Bank | Operating Segments | Global Markets | ||||
Gross amount of goodwill | ||||
Balance at beginning of period | 2,837 | |||
Foreign currency translation impact | 2 | |||
Balance at end of period | 2,839 | 2,839 | ||
Accumulated impairment | ||||
Balance at beginning of period | 2,719 | |||
Balance at end of period | 2,719 | 2,719 | ||
Net book value | ||||
Net book value | 120 | 120 | ||
Bank | Operating Segments | Investment Banking & Capital Markets | ||||
Gross amount of goodwill | ||||
Balance at beginning of period | 911 | |||
Foreign currency translation impact | 7 | |||
Balance at end of period | 918 | 918 | ||
Accumulated impairment | ||||
Balance at beginning of period | 388 | |||
Balance at end of period | 388 | 388 | ||
Net book value | ||||
Net book value | 530 | 530 | ||
Bank | Operating Segments | Strategic Resolution Unit | ||||
Gross amount of goodwill | ||||
Balance at beginning of period | 12 | |||
Foreign currency translation impact | 0 | |||
Balance at end of period | 12 | 12 | ||
Accumulated impairment | ||||
Balance at beginning of period | 12 | |||
Balance at end of period | 12 | 12 | ||
Net book value | ||||
Net book value | SFr 0 | SFr 0 |
Other assets and other liabi104
Other assets and other liabilities (Details) - CHF (SFr) SFr in Millions | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 |
Other assets | ||||||
Cash collateral on derivative instruments | SFr 7,488 | SFr 6,330 | SFr 5,141 | |||
Cash collateral on non-derivative transactions | 909 | 510 | 490 | |||
Derivative instruments used for hedging | 37 | 33 | 50 | |||
Assets held-for-sale | 8,039 | 8,790 | 8,300 | |||
of which loans | 7,980 | 8,724 | 8,130 | |||
of which real estate | 58 | 66 | 141 | |||
of which long-lived assets | 1 | 0 | 29 | |||
Assets held for separate accounts | 182 | 186 | 190 | |||
Interest and fees receivable | 5,160 | 4,746 | 4,669 | |||
Deferred tax assets | 5,191 | 5,228 | 5,522 | |||
Prepaid expenses | 606 | 478 | 379 | |||
Failed purchases | 1,475 | 1,375 | 1,327 | |||
Defined benefit pension and post-retirement plan assets | 2,504 | 2,389 | 2,170 | |||
Other | 3,718 | 3,713 | 3,833 | |||
Other assets | 35,309 | 33,778 | 32,071 | |||
Other liabilities | ||||||
Cash collateral on derivative instruments | 8,761 | 8,749 | 8,644 | |||
Cash collateral on non-derivative transactions | 552 | 516 | 473 | |||
Derivative instruments used for hedging | 2 | 16 | 99 | |||
Provisions | 1,013 | 983 | 1,007 | |||
of which off-balance sheet risk | 132 | 116 | 106 | |||
Restructuring liabilities | 329 | 312 | 306 | SFr 264 | SFr 309 | SFr 311 |
Liabilities held for separate accounts | 182 | 186 | 190 | |||
Interest and fees payable | 5,744 | 5,308 | 5,591 | |||
Current tax liabilities | 666 | 720 | 700 | |||
Deferred tax liabilities | 567 | 461 | 394 | |||
Failed sales | 624 | 653 | 720 | |||
Defined benefit pension and post-retirement plan liabilities | 546 | 543 | 541 | |||
Other | 11,528 | 11,231 | 12,947 | |||
Other liabilities | 30,514 | 29,678 | 31,612 | |||
Restricted loans, representing collateral on secured borrowings, included in loans held-for-sale | 623 | 446 | 534 | |||
Foreclosed or repossessed real estate | 7 | 21 | 8 | |||
Foreclosed or repossessed residential real estate | 4 | SFr 18 | 5 | |||
Bank | ||||||
Other assets | ||||||
Cash collateral on derivative instruments | 7,488 | 5,142 | ||||
Cash collateral on non-derivative transactions | 909 | 490 | ||||
Derivative instruments used for hedging | 37 | 50 | ||||
Assets held-for-sale | 8,039 | 8,300 | ||||
of which loans | 7,980 | 8,130 | ||||
of which real estate | 58 | 141 | ||||
of which long-lived assets | 1 | 29 | ||||
Assets held for separate accounts | 182 | 190 | ||||
Interest and fees receivable | 5,446 | 4,819 | ||||
Deferred tax assets | 5,114 | 5,457 | ||||
Prepaid expenses | 555 | 330 | ||||
Failed purchases | 1,475 | 1,327 | ||||
Defined benefit pension and post-retirement plan assets | 1,062 | 1,058 | ||||
Other | 3,720 | 3,793 | ||||
Other assets | 34,027 | 30,956 | ||||
Other liabilities | ||||||
Cash collateral on derivative instruments | 8,761 | 8,644 | ||||
Cash collateral on non-derivative transactions | 552 | 473 | ||||
Derivative instruments used for hedging | 2 | 99 | ||||
Provisions | 997 | 998 | ||||
of which off-balance sheet risk | 132 | 106 | ||||
Restructuring liabilities | 324 | 301 | SFr 264 | SFr 311 | ||
Liabilities held for separate accounts | 182 | 190 | ||||
Interest and fees payable | 5,903 | 5,804 | ||||
Current tax liabilities | 652 | 687 | ||||
Deferred tax liabilities | 255 | 152 | ||||
Failed sales | 624 | 720 | ||||
Defined benefit pension and post-retirement plan liabilities | 546 | 541 | ||||
Other | 11,640 | 13,074 | ||||
Other liabilities | 30,438 | 31,683 | ||||
Restricted loans, representing collateral on secured borrowings, included in loans held-for-sale | 623 | 534 | ||||
Foreclosed or repossessed real estate | 7 | 8 | ||||
Foreclosed or repossessed residential real estate | SFr 4 | SFr 5 |
Long-term debt (Details)
Long-term debt (Details) - CHF (SFr) SFr in Millions | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 |
Long-term debt | |||
Senior | SFr 143,119 | SFr 143,757 | SFr 148,542 |
Subordinated | 21,770 | 21,415 | 23,627 |
Non-recourse liabilities from consolidated VIEs | 1,072 | 994 | 863 |
Long-term debt | 165,961 | 166,166 | 173,032 |
of which reported at fair value | 62,205 | 61,536 | 63,628 |
Structured notes | |||
Long-term debt | |||
Long-term debt | 49,734 | SFr 49,032 | 51,465 |
Bank | |||
Long-term debt | |||
Senior | 143,206 | 148,568 | |
Subordinated | 20,832 | 22,611 | |
Non-recourse liabilities from consolidated VIEs | 1,072 | 863 | |
Long-term debt | 165,110 | 172,042 | |
of which reported at fair value | 61,272 | 62,622 | |
Bank | Structured notes | |||
Long-term debt | |||
Long-term debt | SFr 49,734 | SFr 51,465 |
Long-term debt - Maturities (De
Long-term debt - Maturities (Details 2) - CHF (SFr) SFr in Millions | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 |
Long-term debt by maturities | |||
Long-term debt | SFr 165,961 | SFr 166,166 | SFr 173,032 |
Structured notes | |||
Long-term debt by maturities | |||
Long-term debt | 49,734 | 49,032 | 51,465 |
Structured notes | Equity | |||
Long-term debt by maturities | |||
Long-term debt | 33,363 | 30,760 | 32,059 |
Structured notes | Fixed income | |||
Long-term debt by maturities | |||
Long-term debt | 12,841 | 13,827 | 14,471 |
Structured notes | Credit | |||
Long-term debt by maturities | |||
Long-term debt | 3,170 | 4,188 | 4,678 |
Structured notes | Other | |||
Long-term debt by maturities | |||
Long-term debt | 360 | SFr 257 | 257 |
Group parent company | |||
Long-term debt by maturities | |||
Long-term debt | 23,560 | 19,357 | |
Bank | |||
Long-term debt by maturities | |||
Long-term debt | 165,110 | 172,042 | |
Bank | Structured notes | |||
Long-term debt by maturities | |||
Long-term debt | 49,734 | 51,465 | |
Bank | Structured notes | Equity | |||
Long-term debt by maturities | |||
Long-term debt | 33,363 | 32,059 | |
Bank | Structured notes | Fixed income | |||
Long-term debt by maturities | |||
Long-term debt | 12,841 | 14,471 | |
Bank | Structured notes | Credit | |||
Long-term debt by maturities | |||
Long-term debt | 3,170 | 4,678 | |
Bank | Structured notes | Other | |||
Long-term debt by maturities | |||
Long-term debt | SFr 360 | SFr 257 |
Accumulated other comprehens107
Accumulated other comprehensive income (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 | |
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | SFr (18,851) | SFr (18,738) | SFr (18,738) | ||
Balance at end of period | (17,504) | (18,851) | (17,504) | ||
Gains/(losses) on cash flow hedges | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | (95) | (62) | SFr (39) | (62) | SFr (35) |
Increase/(decrease) | (66) | (47) | (8) | (113) | (16) |
Increase/(decrease) due to equity method investments | (4) | 1 | 0 | (3) | 0 |
Reclassification adjustments, included in net income | 60 | 13 | 18 | 73 | 22 |
Cumulative effect of accounting changes, net of tax | 0 | 0 | |||
Total increase/(decrease) | (10) | (33) | 10 | (43) | 6 |
Balance at end of period | (105) | (95) | (29) | (105) | (29) |
Cumulative translation adjustments | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | (13,612) | (13,119) | (12,591) | (13,119) | (12,095) |
Increase/(decrease) | 562 | (493) | (1,096) | 69 | (1,615) |
Increase/(decrease) due to equity method investments | 0 | 0 | 1 | 0 | 1 |
Reclassification adjustments, included in net income | (2) | 0 | 0 | (2) | 23 |
Cumulative effect of accounting changes, net of tax | 0 | 0 | |||
Total increase/(decrease) | 560 | (493) | (1,095) | 67 | (1,591) |
Balance at end of period | (13,052) | (13,612) | (13,686) | (13,052) | (13,686) |
Unrealized gains/(losses) on securities | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | 21 | 48 | 59 | 48 | 61 |
Increase/(decrease) | (1) | (6) | (5) | (7) | (7) |
Increase/(decrease) due to equity method investments | 0 | 0 | 0 | 0 | 0 |
Reclassification adjustments, included in net income | (7) | 0 | 0 | (7) | 0 |
Cumulative effect of accounting changes, net of tax | (21) | (21) | |||
Total increase/(decrease) | (8) | (27) | (5) | (35) | (7) |
Balance at end of period | 13 | 21 | 54 | 13 | 54 |
Actuarial gains/(losses) | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | (3,503) | (3,583) | (4,175) | (3,583) | (4,278) |
Increase/(decrease) | 1 | 10 | 2 | 11 | 25 |
Increase/(decrease) due to equity method investments | 0 | 0 | 0 | 0 | 0 |
Reclassification adjustments, included in net income | 72 | 70 | 80 | 142 | 160 |
Cumulative effect of accounting changes, net of tax | 0 | 0 | |||
Total increase/(decrease) | 73 | 80 | 82 | 153 | 185 |
Balance at end of period | (3,430) | (3,503) | (4,093) | (3,430) | (4,093) |
Net prior service credit/ (cost) | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | 491 | 522 | 604 | 522 | 643 |
Increase/(decrease) | 0 | 0 | 0 | 0 | 0 |
Increase/(decrease) due to equity method investments | 0 | 0 | 0 | 0 | 0 |
Reclassification adjustments, included in net income | (29) | (31) | (28) | (60) | (67) |
Cumulative effect of accounting changes, net of tax | 0 | 0 | |||
Total increase/(decrease) | (29) | (31) | (28) | (60) | (67) |
Balance at end of period | 462 | 491 | 576 | 462 | 576 |
Accumulated Gains (Losses) On Liabilities Related To Credit Risk | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | (2,153) | (2,544) | (1,081) | (2,544) | (568) |
Increase/(decrease) | 733 | 384 | (628) | 1,117 | (1,141) |
Increase/(decrease) due to equity method investments | 0 | 0 | 0 | 0 | 0 |
Reclassification adjustments, included in net income | 28 | 7 | (2) | 35 | (2) |
Cumulative effect of accounting changes, net of tax | 0 | 0 | |||
Total increase/(decrease) | 761 | 391 | (630) | 1,152 | (1,143) |
Balance at end of period | (1,392) | (2,153) | (1,711) | (1,392) | (1,711) |
Accumulated other comprehensive income | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | (18,851) | (18,738) | (17,223) | (18,738) | (16,272) |
Increase/(decrease) | 1,229 | (152) | (1,735) | 1,077 | (2,754) |
Increase/(decrease) due to equity method investments | (4) | 1 | 1 | (3) | 1 |
Reclassification adjustments, included in net income | 122 | 59 | 68 | 181 | 136 |
Cumulative effect of accounting changes, net of tax | (21) | (21) | |||
Total increase/(decrease) | 1,347 | (113) | (1,666) | 1,234 | (2,617) |
Balance at end of period | (17,504) | (18,851) | (18,889) | (17,504) | (18,889) |
Bank | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | (15,932) | (15,932) | |||
Balance at end of period | (14,949) | (14,949) | |||
Bank | Gains/(losses) on cash flow hedges | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | (51) | (51) | (16) | ||
Increase/(decrease) | (113) | (16) | |||
Increase/(decrease) due to equity method investments | 0 | ||||
Reclassification adjustments, included in net income | 70 | 18 | |||
Cumulative effect of accounting changes, net of tax | 0 | ||||
Total increase/(decrease) | (43) | 2 | |||
Balance at end of period | (94) | (14) | (94) | (14) | |
Bank | Cumulative translation adjustments | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | (13,248) | (13,248) | (12,269) | ||
Increase/(decrease) | 57 | (1,549) | |||
Increase/(decrease) due to equity method investments | 1 | ||||
Reclassification adjustments, included in net income | (2) | 23 | |||
Cumulative effect of accounting changes, net of tax | 0 | ||||
Total increase/(decrease) | 55 | (1,525) | |||
Balance at end of period | (13,193) | (13,794) | (13,193) | (13,794) | |
Bank | Unrealized gains/(losses) on securities | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | 48 | 48 | 61 | ||
Increase/(decrease) | (6) | (7) | |||
Increase/(decrease) due to equity method investments | 0 | ||||
Reclassification adjustments, included in net income | (7) | 0 | |||
Cumulative effect of accounting changes, net of tax | (22) | ||||
Total increase/(decrease) | (35) | (7) | |||
Balance at end of period | 13 | 54 | 13 | 54 | |
Bank | Actuarial gains/(losses) | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | (381) | (381) | (402) | ||
Increase/(decrease) | (7) | 0 | |||
Increase/(decrease) due to equity method investments | 0 | ||||
Reclassification adjustments, included in net income | 22 | 25 | |||
Cumulative effect of accounting changes, net of tax | 0 | ||||
Total increase/(decrease) | 15 | 25 | |||
Balance at end of period | (366) | (377) | (366) | (377) | |
Bank | Net prior service credit/ (cost) | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | 2 | 2 | 2 | ||
Increase/(decrease) | 0 | 0 | |||
Increase/(decrease) due to equity method investments | 0 | ||||
Reclassification adjustments, included in net income | 0 | 0 | |||
Cumulative effect of accounting changes, net of tax | 0 | ||||
Total increase/(decrease) | 0 | 0 | |||
Balance at end of period | 2 | 2 | 2 | 2 | |
Bank | Accumulated Gains (Losses) On Liabilities Related To Credit Risk | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | (2,302) | (2,302) | (618) | ||
Increase/(decrease) | 956 | (923) | |||
Increase/(decrease) due to equity method investments | 0 | ||||
Reclassification adjustments, included in net income | 35 | (2) | |||
Cumulative effect of accounting changes, net of tax | 0 | ||||
Total increase/(decrease) | 991 | (925) | |||
Balance at end of period | (1,311) | (1,543) | (1,311) | (1,543) | |
Bank | Accumulated other comprehensive income | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | SFr (15,932) | (15,932) | (13,242) | ||
Increase/(decrease) | 887 | (2,495) | |||
Increase/(decrease) due to equity method investments | 1 | ||||
Reclassification adjustments, included in net income | 118 | 64 | |||
Cumulative effect of accounting changes, net of tax | (22) | ||||
Total increase/(decrease) | 983 | (2,430) | |||
Balance at end of period | SFr (14,949) | SFr (15,672) | SFr (14,949) | SFr (15,672) |
AOCI - Additional share informa
AOCI - Additional share information (Details 2) - SFr / shares | 3 Months Ended | 6 Months Ended | ||||||||||
Jun. 30, 2018 | Mar. 31, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | |||||||
Common shares issued | ||||||||||||
Common Stock, Shares, Issued, Beginning Balance | 2,556,011,720 | 2,556,011,720 | 2,089,897,378 | 2,556,011,720 | 2,089,897,378 | |||||||
Issuance of common shares | 0 | 0 | 466,114,342 | 0 | 466,114,342 | |||||||
Common Stock, Shares, Issued, Ending Balance | 2,556,011,720 | 2,556,011,720 | 2,556,011,720 | 2,556,011,720 | 2,556,011,720 | |||||||
Treasury shares | ||||||||||||
Treasury Stock, Shares, Beginning Balance | 16,413,030 | 5,757,666 | 6,308,347 | 5,757,666 | 0 | |||||||
Sale of treasury shares | 173,383,973 | 197,832,217 | 240,261,524 | 371,216,190 | 405,721,747 | |||||||
Repurchase of treasury shares | 205,279,026 | 210,060,139 | 273,705,085 | 415,339,165 | 446,572,454 | |||||||
Share-based compensation, net of tax | 42,340,132 | 1,572,558 | 37,009,421 | 43,912,690 | 38,108,220 | |||||||
Treasury Stock, Shares, Ending Balance | 5,967,951 | 16,413,030 | 2,742,487 | 5,967,951 | 2,742,487 | |||||||
Common shares outstanding | 2,550,043,769 | [1] | 2,539,598,690 | [1] | 2,553,269,233 | [1] | 2,550,043,769 | [1] | 2,553,269,233 | [1] | 2,550,254,054 | |
Par value (in CHF per share) | SFr 0.04 | SFr 0.04 | SFr 0.04 | SFr 0.04 | SFr 0.04 | SFr 0.04 | ||||||
Authorized shares (in shares) | [2] | 3,271,129,950 | 3,271,129,950 | 3,271,129,950 | 3,271,129,950 | |||||||
Unissued shares (in shares) | 653,000,000 | 653,000,000 | 653,000,000 | 653,000,000 | 653,000,000 | |||||||
Capital Instrument Reserved | ||||||||||||
Treasury shares | ||||||||||||
Unissued shares (in shares) | 505,062,294 | 505,062,294 | 505,062,294 | 505,062,294 | 505,062,294 | |||||||
Bank | ||||||||||||
Common shares issued | ||||||||||||
Common Stock, Shares, Issued, Beginning Balance | [3] | 4,399,680,200 | 4,399,680,200 | |||||||||
Common Stock, Shares, Issued, Ending Balance | [3] | 4,399,680,200 | 4,399,680,200 | |||||||||
Treasury shares | ||||||||||||
Common shares outstanding | [3] | 4,399,680,200 | 4,399,680,200 | 4,399,680,200 | ||||||||
Par value (in CHF per share) | [3] | SFr 1 | SFr 1 | SFr 1 | ||||||||
[1] | At par value CHF 0.04 each, fully paid. In addition to the treasury shares, a maximum of 653,000,000 unissued shares (conditional, conversion and authorized capital) were available for issuance without further approval of the shareholders. 505'062'294 of these shares were reserved for capital instruments. | |||||||||||
[2] | Includes issued shares and unissued shares (conditional, conversion and authorized capital). | |||||||||||
[3] | The Bank's total share capital is fully paid and consists of 4'399'680'200 registered shares as of June 30, 2018. Each share is entitled to one vote. The Bank has no warrants on its own shares outstanding. |
AOCI - Significant reclassifica
AOCI - Significant reclassification adjustments (Details 3) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2018 | Mar. 31, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Reclassification adjustments, included in net income | |||||
Income tax expense/(benefit) | SFr 398 | SFr 362 | SFr 276 | SFr 760 | SFr 354 |
Gains/(losses) on cash flow hedges | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income | 60 | 13 | 18 | 73 | 22 |
Cumulative translation adjustments | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income | (2) | 0 | 0 | (2) | 23 |
Unrealized gains/(losses) on securities | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income | (7) | 0 | 0 | (7) | 0 |
Accumulated other comprehensive income | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income | 122 | 59 | 68 | 181 | 136 |
Net prior service credit/ (cost) | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income | (29) | (31) | (28) | (60) | (67) |
Net prior service credit/ (cost) | Reclassification out of Accumulated Other Comprehensive Income [Member] | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income, before tax | (37) | (39) | (36) | (76) | (86) |
Income tax expense/(benefit) | 8 | 8 | 8 | 16 | 19 |
Actuarial gains/(losses) | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income | 72 | 70 | 80 | 142 | 160 |
Actuarial gains/(losses) | Reclassification out of Accumulated Other Comprehensive Income [Member] | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income, before tax | 90 | 88 | 100 | 178 | 200 |
Income tax expense/(benefit) | (18) | SFr (18) | (20) | (36) | (40) |
Credit Suisse Monaco SAM [Member] | Cumulative translation adjustments | Reclassification out of Accumulated Other Comprehensive Income [Member] | |||||
Reclassification adjustments, included in net income | |||||
Net releases | 23 | ||||
Bank | |||||
Reclassification adjustments, included in net income | |||||
Income tax expense/(benefit) | SFr 330 | SFr 289 | 629 | 386 | |
Bank | Gains/(losses) on cash flow hedges | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income | 70 | 18 | |||
Bank | Cumulative translation adjustments | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income | (2) | 23 | |||
Bank | Unrealized gains/(losses) on securities | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income | (7) | 0 | |||
Bank | Accumulated other comprehensive income | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income | 118 | 64 | |||
Bank | Net prior service credit/ (cost) | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income | 0 | 0 | |||
Bank | Actuarial gains/(losses) | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income | 22 | 25 | |||
Bank | Actuarial gains/(losses) | Reclassification out of Accumulated Other Comprehensive Income [Member] | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income, before tax | 26 | 31 | |||
Income tax expense/(benefit) | SFr (4) | (6) | |||
Bank | Credit Suisse Monaco SAM [Member] | Cumulative translation adjustments | Reclassification out of Accumulated Other Comprehensive Income [Member] | |||||
Reclassification adjustments, included in net income | |||||
Net releases | SFr 23 |
Offsetting of financial asse110
Offsetting of financial assets (Details) - CHF (SFr) SFr in Millions | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 |
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | SFr 139,600 | SFr 145,000 | |
Offsetting | (124,200) | (128,800) | |
of which counterparty netting | (109,800) | (113,800) | |
of which cash collateral netting | (14,400) | (15,000) | |
Total net derivatives subject to enforceable master netting agreements | 15,400 | 16,200 | |
Total derivatives not subject to enforceable master netting agreements | 4,200 | 3,400 | |
Total net derivatives presented in the consolidated balance sheets | 19,600 | 19,600 | |
Offsetting of securities purchased under resale agreements and securities borrowing transactions | |||
Securities purchased under resale agreements, gross | 84,600 | 89,400 | |
Securities purchased under resale agreements, offsetting | (21,900) | (28,800) | |
Securities purchased under resale agreements, net | 62,700 | 60,600 | |
Securities borrowing transactions, gross | 21,600 | 18,700 | |
Securities borrowing transactions, offsetting | (5,100) | (5,000) | |
Securities borrowing transactions, net | 16,500 | 13,700 | |
Total subject to enforceable master netting agreements, gross | 106,200 | 108,100 | |
Total subject to enforceable master netting agreements, offsetting | (27,000) | (33,800) | |
Total subject to enforceable master netting agreements, net | 79,200 | 74,300 | |
Total not subject to enforceable master netting agreements | 38,400 | 41,000 | |
Total, gross | 144,600 | 149,100 | |
Total, net | 117,600 | 115,300 | |
of which reported at fair value | 75,706 | SFr 85,086 | 77,498 |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 15,400 | 16,200 | |
Derivatives, financial instruments | 4,900 | 5,200 | |
Derivatives, cash collateral received/pledged | 0 | 0 | |
Derivatives, net exposure | 10,500 | 11,000 | |
Securities purchased under resale agreements, net | 62,700 | 60,600 | |
Securities purchased under resale agreements, financial instruments | 62,700 | 60,600 | |
Securities purchased under resale agreements, cash collateral received/pledged | 0 | 0 | |
Securities purchased under resale agreements, net exposure | 0 | 0 | |
Securities borrowing transactions, net | 16,500 | 13,700 | |
Securities borrowing transactions, financial instruments | 16,000 | 13,200 | |
Securities borrowing transactions, cash collateral received/pledged | 0 | 0 | |
Securities borrowing transactions, net exposure | 500 | 500 | |
Total financial assets subject to enforceable master netting agreements, net | 94,600 | 90,500 | |
Total financial assets subject to enforceable master netting agreements, financial instruments | 83,600 | 79,000 | |
Total financial assets subject to enforceable master netting agreements, cash collateral received/pledged | 0 | 0 | |
Total financial assets subject to enforceable master netting agreements, net exposure | 11,000 | 11,500 | |
Trading assets | |||
Offsetting of derivatives | |||
Total net derivatives presented in the consolidated balance sheets | 19,600 | 19,600 | |
Other assets | |||
Offsetting of derivatives | |||
Total net derivatives presented in the consolidated balance sheets | 0 | 0 | |
OTC-cleared | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 7,100 | 6,300 | |
Offsetting | (6,700) | (5,700) | |
Total net derivatives subject to enforceable master netting agreements | 400 | 600 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 400 | 600 | |
OTC | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 122,300 | 129,400 | |
Offsetting | (108,000) | (114,500) | |
Total net derivatives subject to enforceable master netting agreements | 14,300 | 14,900 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 14,300 | 14,900 | |
Exchange-traded | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 10,200 | 9,300 | |
Offsetting | (9,500) | (8,600) | |
Total net derivatives subject to enforceable master netting agreements | 700 | 700 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 700 | 700 | |
Interest rate derivatives | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 75,700 | 85,900 | |
Interest rate derivatives | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 3,700 | 2,500 | |
Interest rate derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 71,700 | 83,300 | |
Interest rate derivatives | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 300 | 100 | |
Foreign exchange derivatives | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 35,600 | 29,300 | |
Foreign exchange derivatives | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 500 | 200 | |
Foreign exchange derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 35,100 | 29,100 | |
Foreign exchange derivatives | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 0 | 0 | |
Equity/index-related derivatives | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 21,100 | 20,900 | |
Equity/index-related derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 11,200 | 11,700 | |
Equity/index-related derivatives | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 9,900 | 9,200 | |
Credit derivatives | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 6,500 | 7,500 | |
Credit derivatives | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 2,900 | 3,600 | |
Credit derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 3,600 | 3,900 | |
Other products | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 700 | 1,400 | |
Other products | OTC | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 700 | 1,400 | |
Bank | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 139,600 | 145,000 | |
Offsetting | (124,200) | (128,800) | |
of which counterparty netting | (109,800) | (113,800) | |
of which cash collateral netting | (14,400) | (15,000) | |
Total net derivatives subject to enforceable master netting agreements | 15,400 | 16,200 | |
Total derivatives not subject to enforceable master netting agreements | 4,300 | 3,700 | |
Total net derivatives presented in the consolidated balance sheets | 19,700 | 19,900 | |
Offsetting of securities purchased under resale agreements and securities borrowing transactions | |||
Securities purchased under resale agreements, gross | 84,600 | 89,400 | |
Securities purchased under resale agreements, offsetting | (21,900) | (28,800) | |
Securities purchased under resale agreements, net | 62,700 | 60,600 | |
Securities borrowing transactions, gross | 21,600 | 18,700 | |
Securities borrowing transactions, offsetting | (5,100) | (5,000) | |
Securities borrowing transactions, net | 16,500 | 13,700 | |
Total subject to enforceable master netting agreements, gross | 106,200 | 108,100 | |
Total subject to enforceable master netting agreements, offsetting | (27,000) | (33,800) | |
Total subject to enforceable master netting agreements, net | 79,200 | 74,300 | |
Total not subject to enforceable master netting agreements | 38,400 | 41,000 | |
Total, gross | 144,600 | 149,100 | |
Total, net | 117,600 | 115,300 | |
of which reported at fair value | 75,706 | 77,498 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 15,400 | 16,200 | |
Derivatives, financial instruments | 4,900 | 5,200 | |
Derivatives, cash collateral received/pledged | 0 | 0 | |
Derivatives, net exposure | 10,500 | 11,000 | |
Securities purchased under resale agreements, net | 62,700 | 60,600 | |
Securities purchased under resale agreements, financial instruments | 62,700 | 60,600 | |
Securities purchased under resale agreements, cash collateral received/pledged | 0 | 0 | |
Securities purchased under resale agreements, net exposure | 0 | 0 | |
Securities borrowing transactions, net | 16,500 | 13,700 | |
Securities borrowing transactions, financial instruments | 16,000 | 13,200 | |
Securities borrowing transactions, cash collateral received/pledged | 0 | 0 | |
Securities borrowing transactions, net exposure | 500 | 500 | |
Total financial assets subject to enforceable master netting agreements, net | 94,600 | 90,500 | |
Total financial assets subject to enforceable master netting agreements, financial instruments | 83,600 | 79,000 | |
Total financial assets subject to enforceable master netting agreements, cash collateral received/pledged | 0 | 0 | |
Total financial assets subject to enforceable master netting agreements, net exposure | 11,000 | 11,500 | |
Bank | Trading assets | |||
Offsetting of derivatives | |||
Total net derivatives presented in the consolidated balance sheets | 19,700 | 19,900 | |
Bank | Other assets | |||
Offsetting of derivatives | |||
Total net derivatives presented in the consolidated balance sheets | 0 | 0 | |
Bank | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 7,100 | 6,300 | |
Offsetting | (6,700) | (5,700) | |
Total net derivatives subject to enforceable master netting agreements | 400 | 600 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 400 | 600 | |
Bank | OTC | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 122,300 | 129,400 | |
Offsetting | (108,000) | (114,500) | |
Total net derivatives subject to enforceable master netting agreements | 14,300 | 14,900 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 14,300 | 14,900 | |
Bank | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 10,200 | 9,300 | |
Offsetting | (9,500) | (8,600) | |
Total net derivatives subject to enforceable master netting agreements | 700 | 700 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 700 | 700 | |
Bank | Interest rate derivatives | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 75,700 | 85,900 | |
Bank | Interest rate derivatives | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 3,700 | 2,500 | |
Bank | Interest rate derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 71,700 | 83,300 | |
Bank | Interest rate derivatives | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 300 | 100 | |
Bank | Foreign exchange derivatives | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 35,600 | 29,300 | |
Bank | Foreign exchange derivatives | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 500 | 200 | |
Bank | Foreign exchange derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 35,100 | 29,100 | |
Bank | Foreign exchange derivatives | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 0 | 0 | |
Bank | Equity/index-related derivatives | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 21,100 | 20,900 | |
Bank | Equity/index-related derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 11,200 | 11,700 | |
Bank | Equity/index-related derivatives | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 9,900 | 9,200 | |
Bank | Credit derivatives | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 6,500 | 7,500 | |
Bank | Credit derivatives | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 2,900 | 3,600 | |
Bank | Credit derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 3,600 | 3,900 | |
Bank | Other products | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 700 | 1,400 | |
Bank | Other products | OTC | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | SFr 700 | SFr 1,400 |
Offsetting of financial liabili
Offsetting of financial liabilities (Details 2) - CHF (SFr) SFr in Millions | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 |
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | SFr 141,700 | SFr 146,700 | |
Offsetting | (131,100) | (137,100) | |
of which counterparty netting | (109,800) | (113,800) | |
of which cash collateral netting | (21,300) | (23,300) | |
Total net derivatives subject to enforceable master netting agreements | 10,600 | 9,600 | |
Total derivatives not subject to enforceable master netting agreements | 4,600 | 5,200 | |
Total net derivatives presented in the consolidated balance sheets | 15,200 | 14,800 | |
Offsetting of securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral | |||
Securities sold under repurchase agreements, gross | 38,900 | 49,400 | |
Securities sold under repurchase agreements, offsetting | (24,700) | (31,500) | |
Securities sold under repurchase agreements, net | 14,200 | 17,900 | |
Securities lending transactions, gross | 6,200 | 7,100 | |
Securities lending transactions, offsetting | (2,300) | (2,300) | |
Securities lending transactions, net | 3,900 | 4,800 | |
Obligation to return securities received as collateral, at fair value, gross | 43,600 | 37,000 | |
Obligation to return securities received as collateral, at fair value, offsetting | 0 | 0 | |
Obligation to return securities received as collateral, at fair value, net | 43,600 | 37,000 | |
Total subject to enforceable master netting agreements, gross | 88,700 | 93,500 | |
Total subject to enforceable master netting agreements, offsetting | (27,000) | (33,800) | |
Total subject to enforceable master netting agreements, net | 61,700 | 59,700 | |
Total not subject to enforceable master netting agreements | 3,700 | 4,900 | |
Total, gross | 92,400 | 98,400 | |
Total, net | 65,400 | 64,600 | |
of which reported at fair value | 9,457 | SFr 15,740 | 15,262 |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 10,600 | 9,600 | |
Derivatives, financial instruments | 1,700 | 2,100 | |
Derivatives, cash collateral received/pledged | 0 | 0 | |
Derivatives, net exposure | 8,900 | 7,500 | |
Securities sold under repurchase agreements, net | 14,200 | 17,900 | |
Securities sold under repurchase agreements, financial instruments | 14,200 | 17,900 | |
Securities sold under repurchase agreements, cash collateral received/pledged | 0 | 0 | |
Securities sold under repurchase agreements, net exposure | 0 | 0 | |
Securities lending transactions, net | 3,900 | 4,800 | |
Securities lending transactions, financial instruments | 3,400 | 4,400 | |
Securities lending transactions, cash collateral received/pledged | 0 | 0 | |
Securities lending transactions, net exposure | 500 | 400 | |
Obligation to return securities received as collateral, at fair value, net | 43,600 | 37,000 | |
Obligation to return securities received as collateral, financial instruments | 39,200 | 32,700 | |
Obligation to return securities received as collateral, cash collateral received/pledged | 0 | 0 | |
Obligation to return securities received as collateral, at fair value, net exposure | 4,400 | 4,300 | |
Total financial liabilities subject to enforceable master netting agreements, net | 72,300 | 69,300 | |
Total financial liabilities subject to enforceable master netting agreements, financial instruments | 58,500 | 57,100 | |
Total financial liabilities subject to enforceable master netting agreements, cash collateral received/pledged | 0 | 0 | |
Total financial liabilities subject to enforceable master netting agreements, net exposure | 13,800 | 12,200 | |
Trading Liabilities | |||
Offsetting of derivatives | |||
Total net derivatives presented in the consolidated balance sheets | 15,200 | 14,700 | |
Other liabilities | |||
Offsetting of derivatives | |||
Total net derivatives presented in the consolidated balance sheets | 0 | 100 | |
Securities sold under repurchase agreements and securities | |||
Offsetting of securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral | |||
Total subject to enforceable master netting agreements, offsetting | (27,000) | (33,800) | |
Total, gross | 46,900 | 60,300 | |
Total, net | 19,900 | 26,500 | |
Obligation to return securities received as collateral | |||
Offsetting of securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral | |||
Total subject to enforceable master netting agreements, offsetting | 0 | 0 | |
Total, gross | 45,500 | 38,100 | |
Total, net | 45,500 | 38,100 | |
OTC-cleared | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 7,000 | 5,800 | |
Offsetting | (6,800) | (5,400) | |
Total net derivatives subject to enforceable master netting agreements | 200 | 400 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 200 | 400 | |
OTC | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 122,400 | 130,900 | |
Offsetting | (113,500) | (122,100) | |
Total net derivatives subject to enforceable master netting agreements | 8,900 | 8,800 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 8,900 | 8,800 | |
Exchange-traded | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 12,300 | 10,000 | |
Offsetting | (10,800) | (9,600) | |
Total net derivatives subject to enforceable master netting agreements | 1,500 | 400 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 1,500 | 400 | |
Interest rate derivatives | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 70,700 | 81,000 | |
Interest rate derivatives | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 3,400 | 1,800 | |
Interest rate derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 66,900 | 79,000 | |
Interest rate derivatives | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 400 | 200 | |
Foreign exchange derivatives | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 40,200 | 34,800 | |
Foreign exchange derivatives | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 400 | 200 | |
Foreign exchange derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 39,700 | 34,600 | |
Foreign exchange derivatives | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 100 | 0 | |
Equity/index-related derivatives | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 22,400 | 21,500 | |
Equity/index-related derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 10,600 | 11,700 | |
Equity/index-related derivatives | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 11,800 | 9,800 | |
Credit derivatives | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 7,800 | 8,500 | |
Credit derivatives | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 3,200 | 3,800 | |
Credit derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 4,600 | 4,700 | |
Other products | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 600 | 900 | |
Other products | OTC | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 600 | 900 | |
Bank | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 141,800 | 147,000 | |
Offsetting | (131,200) | (137,400) | |
of which counterparty netting | (109,800) | (113,800) | |
of which cash collateral netting | (21,400) | (23,600) | |
Total net derivatives subject to enforceable master netting agreements | 10,600 | 9,600 | |
Total derivatives not subject to enforceable master netting agreements | 4,600 | 5,200 | |
Total net derivatives presented in the consolidated balance sheets | 15,200 | 14,800 | |
Offsetting of securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral | |||
Securities sold under repurchase agreements, gross | 38,900 | 49,400 | |
Securities sold under repurchase agreements, offsetting | (24,700) | (31,500) | |
Securities sold under repurchase agreements, net | 14,200 | 17,900 | |
Securities lending transactions, gross | 6,200 | 7,100 | |
Securities lending transactions, offsetting | (2,300) | (2,300) | |
Securities lending transactions, net | 3,900 | 4,800 | |
Obligation to return securities received as collateral, at fair value, gross | 43,600 | 37,000 | |
Obligation to return securities received as collateral, at fair value, offsetting | 0 | 0 | |
Obligation to return securities received as collateral, at fair value, net | 43,600 | 37,000 | |
Total subject to enforceable master netting agreements, gross | 88,700 | 93,500 | |
Total subject to enforceable master netting agreements, offsetting | (27,000) | (33,800) | |
Total subject to enforceable master netting agreements, net | 61,700 | 59,700 | |
Total not subject to enforceable master netting agreements | 3,700 | 4,900 | |
Total, gross | 92,400 | 98,400 | |
Total, net | 65,400 | 64,600 | |
of which reported at fair value | 9,457 | 15,262 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 10,600 | 9,600 | |
Derivatives, financial instruments | 1,700 | 2,100 | |
Derivatives, cash collateral received/pledged | 0 | 0 | |
Derivatives, net exposure | 8,900 | 7,500 | |
Securities sold under repurchase agreements, net | 14,200 | 17,900 | |
Securities sold under repurchase agreements, financial instruments | 14,200 | 17,900 | |
Securities sold under repurchase agreements, cash collateral received/pledged | 0 | 0 | |
Securities sold under repurchase agreements, net exposure | 0 | 0 | |
Securities lending transactions, net | 3,900 | 4,800 | |
Securities lending transactions, financial instruments | 3,400 | 4,400 | |
Securities lending transactions, cash collateral received/pledged | 0 | 0 | |
Securities lending transactions, net exposure | 500 | 400 | |
Obligation to return securities received as collateral, at fair value, net | 43,600 | 37,000 | |
Obligation to return securities received as collateral, financial instruments | 39,200 | 32,700 | |
Obligation to return securities received as collateral, cash collateral received/pledged | 0 | 0 | |
Obligation to return securities received as collateral, at fair value, net exposure | 4,400 | 4,300 | |
Total financial liabilities subject to enforceable master netting agreements, net | 72,300 | 69,300 | |
Total financial liabilities subject to enforceable master netting agreements, financial instruments | 58,500 | 57,100 | |
Total financial liabilities subject to enforceable master netting agreements, cash collateral received/pledged | 0 | 0 | |
Total financial liabilities subject to enforceable master netting agreements, net exposure | 13,800 | 12,200 | |
Bank | Trading Liabilities | |||
Offsetting of derivatives | |||
Total net derivatives presented in the consolidated balance sheets | 15,200 | 14,700 | |
Bank | Other liabilities | |||
Offsetting of derivatives | |||
Total net derivatives presented in the consolidated balance sheets | 0 | 100 | |
Bank | Securities sold under repurchase agreements and securities | |||
Offsetting of securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral | |||
Total subject to enforceable master netting agreements, offsetting | (27,000) | (33,800) | |
Total, gross | 46,900 | 60,300 | |
Total, net | 19,900 | 26,500 | |
Bank | Obligation to return securities received as collateral | |||
Offsetting of securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral | |||
Total subject to enforceable master netting agreements, offsetting | 0 | 0 | |
Total, gross | 45,500 | 38,100 | |
Total, net | 45,500 | 38,100 | |
Bank | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 7,000 | 5,800 | |
Offsetting | (6,800) | (5,400) | |
Total net derivatives subject to enforceable master netting agreements | 200 | 400 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 200 | 400 | |
Bank | OTC | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 122,500 | 131,200 | |
Offsetting | (113,600) | (122,400) | |
Total net derivatives subject to enforceable master netting agreements | 8,900 | 8,800 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 8,900 | 8,800 | |
Bank | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 12,300 | 10,000 | |
Offsetting | (10,800) | (9,600) | |
Total net derivatives subject to enforceable master netting agreements | 1,500 | 400 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 1,500 | 400 | |
Bank | Interest rate derivatives | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 70,700 | 81,000 | |
Bank | Interest rate derivatives | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 3,400 | 1,800 | |
Bank | Interest rate derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 66,900 | 79,000 | |
Bank | Interest rate derivatives | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 400 | 200 | |
Bank | Foreign exchange derivatives | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 40,200 | 34,800 | |
Bank | Foreign exchange derivatives | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 400 | 200 | |
Bank | Foreign exchange derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 39,700 | 34,600 | |
Bank | Foreign exchange derivatives | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 100 | 0 | |
Bank | Equity/index-related derivatives | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 22,500 | 21,800 | |
Bank | Equity/index-related derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 10,700 | 12,000 | |
Bank | Equity/index-related derivatives | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 11,800 | 9,800 | |
Bank | Credit derivatives | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 7,800 | 8,500 | |
Bank | Credit derivatives | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 3,200 | 3,800 | |
Bank | Credit derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 4,600 | 4,700 | |
Bank | Other products | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 600 | 900 | |
Bank | Other products | OTC | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | SFr 600 | SFr 900 |
Tax - Income statement related_
Tax - Income statement related/reconciliation of tax rate (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2018 | Mar. 31, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Income from continuing operations before taxes (CHF) | |||||
Income/(loss) before taxes | SFr 1,052 | SFr 1,054 | SFr 582 | SFr 2,106 | SFr 1,252 |
Current and deferred taxes | |||||
Deferred income tax expense | 446 | 31 | |||
Income tax expense | 398 | 362 | 276 | 760 | 354 |
Reconciliation of taxes computed at the Swiss statutory rate | |||||
Income tax expense computed at the statutory tax rate of 22% | SFr 231 | ||||
Swiss statutory rate (as a percent) | 22.00% | ||||
Increase/(decrease) in income taxes resulting from: | |||||
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Amount | SFr (1) | ||||
Other non-deductible expenses | 120 | ||||
of which non-deductible interest expenses and share-based compensation cost | 116 | ||||
of which non-deductible provision accruals | 4 | ||||
Lower taxed income | (34) | ||||
of which tax benefit related non-taxable life insurance income | (18) | ||||
Changes in deferred tax valuation allowance | 13 | ||||
(Windfall tax benefits)/shortfall tax charges on share-based compensation | (5) | ||||
Other | 74 | ||||
of which tax expense or benefit relating to the (establishment) or release of tax contingency accruals | 6 | ||||
of which tax expense from own-credit revaluation gains | 36 | ||||
Income tax expense | 398 | SFr 362 | 276 | 760 | 354 |
Switzerland | |||||
Increase/(decrease) in income taxes resulting from: | |||||
of which swiss income tax benefit as a result of foreign branch earnings beneficially impact the earnings mix | (14) | ||||
of which tax expense from an adverse earnings mix in the Group's operating entities | 38 | ||||
UK | |||||
Increase/(decrease) in income taxes resulting from: | |||||
Changes in deferred tax valuation allowance | (54) | ||||
UK and Asia | |||||
Increase/(decrease) in income taxes resulting from: | |||||
Changes in deferred tax valuation allowance | 67 | ||||
Bank | |||||
Income from continuing operations before taxes (CHF) | |||||
Income/(loss) before taxes | 977 | 529 | 1,887 | 1,152 | |
Current and deferred taxes | |||||
Deferred income tax expense | 325 | 67 | |||
Income tax expense | 330 | 289 | 629 | 386 | |
Reconciliation of taxes computed at the Swiss statutory rate | |||||
Income tax expense computed at the statutory tax rate of 22% | SFr 415 | ||||
Swiss statutory rate (as a percent) | 22.00% | ||||
Increase/(decrease) in income taxes resulting from: | |||||
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Amount | SFr 4 | ||||
Other non-deductible expenses | 171 | ||||
of which non-deductible interest expenses and share-based compensation cost | 167 | ||||
of which non-deductible provision accruals | 12 | ||||
Nondeductible tax benefits on goodwill deductions | 10 | ||||
Lower taxed income | (60) | ||||
of which tax benefit related non-taxable life insurance income | (31) | ||||
Changes in deferred tax valuation allowance | 25 | ||||
(Windfall tax benefits)/shortfall tax charges on share-based compensation | (5) | ||||
Other | 79 | ||||
of which tax expense or benefit relating to the (establishment) or release of tax contingency accruals | 6 | ||||
Income tax expense | SFr 330 | SFr 289 | 629 | SFr 386 | |
Bank | Switzerland | |||||
Increase/(decrease) in income taxes resulting from: | |||||
of which swiss income tax benefit as a result of foreign branch earnings beneficially impact the earnings mix | (27) | ||||
of which tax benefit relating to the re-assessment of deferred tax assets in Switzerland changes in forecasted future profitability | 50 | ||||
of which tax expense from an adverse earnings mix in the Group's operating entities | 44 | ||||
Bank | UK | |||||
Increase/(decrease) in income taxes resulting from: | |||||
Changes in deferred tax valuation allowance | 84 | ||||
Bank | UK and Asia | |||||
Increase/(decrease) in income taxes resulting from: | |||||
Changes in deferred tax valuation allowance | 109 | ||||
Bank | Asia Pacific | |||||
Increase/(decrease) in income taxes resulting from: | |||||
of which tax benefit for the reassessment relating to the tax deductibility on previously taken litigation accruals | SFr (15) |
Tax - Balance sheet related (De
Tax - Balance sheet related (Details 2) - CHF (SFr) SFr in Millions | 6 Months Ended | ||
Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | |
Tax effect of temporary differences | |||
Net operating loss carry-forwards, after allocation of valuation allowances | SFr 1,798 | SFr 2,046 | |
Net deferred tax assets | 4,624 | SFr 4,767 | |
Bank | |||
Tax effect of temporary differences | |||
Net operating loss carry-forwards, after allocation of valuation allowances | 1,782 | SFr 2,200 | |
Net deferred tax assets | 4,859 | SFr 5,305 | |
Net deferred tax assets change | SFr (446) |
Tax - Net deferred tax assets_l
Tax - Net deferred tax assets/liabilities by type (Details 3) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2018 | Mar. 31, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | |
Net deferred tax assets | ||||||
Deferred tax assets | SFr 5,191 | SFr 5,228 | SFr 5,191 | SFr 5,522 | ||
Net operating loss carry-forwards, after allocation of valuation allowances | 1,798 | 2,046 | 1,798 | |||
Temporary differences | 3,393 | 3,182 | 3,393 | |||
Deferred tax liabilities | 567 | 461 | 567 | 394 | ||
Deferred Tax Assets (Liabilities), Net | 4,624 | SFr 4,767 | 4,624 | |||
Accumulated undistributed earnings from foreign subsidiaries | SFr 5,100 | SFr 5,100 | ||||
Effective tax rate | ||||||
Effective tax rate (as a percent) | 37.80% | 34.30% | 47.40% | 36.10% | 28.30% | |
Minimum | ||||||
Net deferred tax assets | ||||||
Decrease in Unrecognized Tax Benefits is Reasonably Possible | SFr 0 | SFr 0 | ||||
Maximum | ||||||
Net deferred tax assets | ||||||
Decrease in Unrecognized Tax Benefits is Reasonably Possible | 20 | 20 | ||||
Bank | ||||||
Net deferred tax assets | ||||||
Deferred tax assets | 5,114 | 5,114 | 5,457 | |||
Net operating loss carry-forwards, after allocation of valuation allowances | 1,782 | 1,782 | 2,200 | |||
Temporary differences | 3,332 | 3,332 | 3,257 | |||
Deferred tax liabilities | 255 | 255 | 152 | |||
Deferred Tax Assets (Liabilities), Net | 4,859 | 4,859 | SFr 5,305 | |||
Net deferred tax assets change | (446) | |||||
Accumulated undistributed earnings from foreign subsidiaries | 4,600 | SFr 4,600 | ||||
Effective tax rate | ||||||
Effective tax rate (as a percent) | 33.30% | 33.50% | ||||
Bank | Minimum | ||||||
Net deferred tax assets | ||||||
Decrease in Unrecognized Tax Benefits is Reasonably Possible | 0 | SFr 0 | ||||
Bank | Maximum | ||||||
Net deferred tax assets | ||||||
Decrease in Unrecognized Tax Benefits is Reasonably Possible | SFr 20 | SFr 20 |
Deferred compensation expense (
Deferred compensation expense (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 | |
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | SFr 338 | SFr 367 | SFr 378 | SFr 705 | SFr 818 |
Other Cash Awards | |||||
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | 71 | 54 | 87 | 125 | 182 |
2008 Partner Asset Facility (PAF) awards | |||||
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | 0 | 0 | 0 | 0 | 7 |
Contingent Capital Awards (CCA) | |||||
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | 42 | 52 | 65 | 94 | 150 |
Capital Opportunity Facility (COF) | |||||
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | 3 | 3 | 3 | 6 | 7 |
Performance shares | Performance share awards | |||||
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | 92 | 109 | 87 | 201 | 185 |
Stock compensation plan | Share awards | |||||
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | 130 | 148 | 130 | 278 | 276 |
Stock compensation plan | Contingent Capital share awards | |||||
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | SFr 0 | SFr 1 | SFr 6 | 1 | 11 |
Bank | |||||
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | 683 | 804 | |||
Bank | Other Cash Awards | |||||
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | 119 | 172 | |||
Bank | 2008 Partner Asset Facility (PAF) awards | |||||
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | 0 | 7 | |||
Bank | Contingent Capital Awards (CCA) | |||||
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | 92 | 150 | |||
Bank | Capital Opportunity Facility (COF) | |||||
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | 6 | 7 | |||
Bank | Performance shares | Performance share awards | |||||
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | 195 | 183 | |||
Bank | Stock compensation plan | Share awards | |||||
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | 270 | 274 | |||
Bank | Stock compensation plan | Contingent Capital share awards | |||||
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | SFr 1 | SFr 11 |
Estimated unrecognized deferred
Estimated unrecognized deferred compensation (Details 2) SFr in Millions | 3 Months Ended | 6 Months Ended |
Jun. 30, 2018CHF (SFr) | Jun. 30, 2018CHF (SFr) | |
Estimated unrecognized compensation expense | ||
Total estimated unrecognized compensation expense | SFr 1,628 | SFr 1,628 |
Aggregate remaining weighted-average requisite service period (years) | ||
Aggregate remaining requisite service period (in years) | 1 year 3 months 19 days | |
Other Cash Awards | ||
Estimated unrecognized compensation expense | ||
Total estimated unrecognized compensation expense | SFr 284 | 284 |
Contingent Capital Awards (CCA) | ||
Estimated unrecognized compensation expense | ||
Total estimated unrecognized compensation expense | 244 | 244 |
Performance shares | Performance share awards | ||
Estimated unrecognized compensation expense | ||
Total estimated unrecognized compensation expense | 363 | 363 |
Stock compensation plan | Share awards | ||
Estimated unrecognized compensation expense | ||
Total estimated unrecognized compensation expense | 736 | 736 |
Stock compensation plan | Contingent Capital share awards | ||
Estimated unrecognized compensation expense | ||
Total estimated unrecognized compensation expense | 1 | 1 |
Bank | ||
Estimated unrecognized compensation expense | ||
Total estimated unrecognized compensation expense | 1,579 | SFr 1,579 |
Aggregate remaining weighted-average requisite service period (years) | ||
Aggregate remaining requisite service period (in years) | 1 year 3 months 19 days | |
Bank | Other Cash Awards | ||
Estimated unrecognized compensation expense | ||
Total estimated unrecognized compensation expense | 271 | SFr 271 |
Bank | Contingent Capital Awards (CCA) | ||
Estimated unrecognized compensation expense | ||
Total estimated unrecognized compensation expense | 241 | 241 |
Bank | Performance shares | Performance share awards | ||
Estimated unrecognized compensation expense | ||
Total estimated unrecognized compensation expense | 350 | 350 |
Bank | Stock compensation plan | Share awards | ||
Estimated unrecognized compensation expense | ||
Total estimated unrecognized compensation expense | 716 | 716 |
Bank | Stock compensation plan | Contingent Capital share awards | ||
Estimated unrecognized compensation expense | ||
Total estimated unrecognized compensation expense | SFr 1 | SFr 1 |
Share-based awards (Details 3)
Share-based awards (Details 3) - CHF (SFr) SFr / shares in Units, shares in Millions, SFr in Millions | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2018 | Jun. 30, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total estimated unrecognized compensation expense | SFr 1,628 | SFr 1,628 | |
Performance shares | Performance share awards | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total estimated unrecognized compensation expense | SFr 363 | SFr 363 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Beginning Balance | 80.1 | 54.2 | |
Granted (in shares) | 0 | 26.5 | |
Settled (in shares) | (25.9) | (25.9) | |
Forfeited (in shares) | (0.2) | (0.8) | |
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Ending Balance | 54 | 54 | |
of which vested (in shares) | 3.8 | 3.8 | 3.8 |
of which unvested (in shares) | 50.2 | 50.2 | 50.2 |
Stock compensation plan | Share awards | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting period | 3 years | ||
Total estimated unrecognized compensation expense | SFr 736 | SFr 736 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Beginning Balance | 119 | 84.9 | |
Granted (in shares) | 0.9 | 38.5 | |
Settled (in shares) | (33.8) | (36.6) | |
Forfeited (in shares) | (0.6) | (1.3) | |
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Ending Balance | 85.5 | 85.5 | |
of which vested (in shares) | 8.7 | 8.7 | 8.7 |
of which unvested (in shares) | 76.8 | 76.8 | 76.8 |
Stock compensation plan | Contingent Capital share awards | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total estimated unrecognized compensation expense | SFr 1 | SFr 1 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Beginning Balance | 8.4 | 8.4 | |
Granted (in shares) | 0 | 0 | |
Settled (in shares) | (4.8) | (4.8) | |
Forfeited (in shares) | 0 | 0 | |
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Ending Balance | 3.6 | 3.6 | |
of which vested (in shares) | 0.6 | 0.6 | 0.6 |
of which unvested (in shares) | 3 | 3 | 3 |
Bank | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total estimated unrecognized compensation expense | SFr 1,579 | SFr 1,579 | |
Bank | Performance shares | Performance share awards | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Terms of Award | In 6M18, the Bank granted 25.6 million performance share awards at a weighted-average share price of CHF 16.98. Performance share awards are similar to share awards, except that the full balance of outstanding performance share awards, including those awarded in prior years, are subject to performance-based malus provisions. | ||
Total estimated unrecognized compensation expense | SFr 350 | SFr 350 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | |||
Weighted-average grant-date fair value - Granted (in CHF per share) | SFr 16.98 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Beginning Balance | 52.8 | ||
Granted (in shares) | 25.6 | ||
Settled (in shares) | (25.4) | ||
Forfeited (in shares) | (0.8) | ||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Ending Balance | 52.2 | 52.2 | |
of which vested (in shares) | 3.7 | 3.7 | |
of which unvested (in shares) | 48.5 | 48.5 | |
Bank | Stock compensation plan | Share awards | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Terms of Award | In 6M18, the Bank granted 37.1 million share awards at a weighted-average share price of CHF 17.11. Each share award granted entitles the holder of the award to receive one Group share, subject to service conditions. Share awards vest over three years with one third of the share awards vesting on each of the three anniversaries of the grant date (ratable vesting), with the exception of awards granted to individuals classified as risk managers or senior managers under the UK Prudential Regulatory Authority (PRA) Remuneration Code. Share awards granted to risk managers vest over five years with one fifth of the award vesting on each of the five anniversaries of the grant date, while share awards granted to senior managers vest over five years commencing on the third anniversary of the grant date, with one fifth of the award vesting on each of the third to seventh anniversaries of the grant date. Share awards are expensed over the service period of the awards. | ||
Vesting period | 3 years | ||
Total estimated unrecognized compensation expense | SFr 716 | SFr 716 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | |||
Weighted-average grant-date fair value - Granted (in CHF per share) | SFr 17.11 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Beginning Balance | 79.9 | ||
Granted (in shares) | 37.1 | ||
Settled (in shares) | (35.3) | ||
Forfeited (in shares) | (1.1) | ||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Ending Balance | 80.6 | 80.6 | |
of which vested (in shares) | 8.3 | 8.3 | |
of which unvested (in shares) | 72.3 | 72.3 | |
Bank | Stock compensation plan | Share awards | UK PRA Staff, Risk takers | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting period | 5 years | ||
Bank | Stock compensation plan | Share awards | UK PRA Staff, Senior management | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting period | 7 years | ||
Bank | Stock compensation plan | Contingent Capital share awards | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total estimated unrecognized compensation expense | SFr 1 | SFr 1 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Beginning Balance | 7.5 | ||
Granted (in shares) | 0 | ||
Settled (in shares) | (4.7) | ||
Forfeited (in shares) | 0 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Ending Balance | 2.8 | 2.8 | |
of which vested (in shares) | 0.6 | 0.6 | |
of which unvested (in shares) | 2.2 | 2.2 |
Cash-based awards (Details 5)
Cash-based awards (Details 5) SFr in Millions | 6 Months Ended |
Jun. 30, 2018CHF (SFr) | |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |
Estimated unrecognized compensation expense | SFr 1,628 |
Contingent Capital Awards (CCA) | |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |
Estimated unrecognized compensation expense | 244 |
Other Cash Awards | |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |
Estimated unrecognized compensation expense | 284 |
Bank | |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |
Estimated unrecognized compensation expense | SFr 1,579 |
Bank | Contingent Capital Awards (CCA) | |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |
Deferred Compensation Arrangement with Individual, Description | In 6M18, the Bank awarded CHF 233 million of CCA. CCA are scheduled to vest on the third anniversary of the grant date, other than those granted to individuals classified as risk managers or senior managers under the UK PRA Remuneration Code, where CCA vest on the fifth and seventh anniversaries of the grant date, respectively, and will be expensed over the vesting period. |
Deferred Compensation Arrangement with Individual, Cash Award Granted, Amount | SFr 233 |
Estimated unrecognized compensation expense | SFr 241 |
Bank | Contingent Capital Awards (CCA) | Cliff vesting [Member] | |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |
Deferred Compensation Arrangement with Individual, Maximum Contractual Term | 3 years |
Bank | Contingent Capital Awards (CCA) | UK PRA Staff, Risk takers | Cliff vesting [Member] | |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |
Deferred Compensation Arrangement with Individual, Maximum Contractual Term | 5 years |
Bank | Contingent Capital Awards (CCA) | UK PRA Staff, Senior management | Cliff vesting [Member] | |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |
Deferred Compensation Arrangement with Individual, Maximum Contractual Term | 7 years |
Bank | Other Cash Awards | |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |
Estimated unrecognized compensation expense | SFr 271 |
Other variable compensation (De
Other variable compensation (Details 8) - 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 Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |||||
Compensation expense relating to deferred compensation | SFr 338 | SFr 367 | SFr 378 | SFr 705 | SFr 818 |
Other variable compensation | |||||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |||||
Deferred Compensation Arrangement with Individual, Cash Award Granted, Amount | 98 | SFr 98 | |||
Compensation expense relating to deferred compensation | SFr 33 | ||||
Other variable compensation | Cliff vesting [Member] | |||||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |||||
Deferred Compensation Arrangement with Individual, Description | In 2Q18, the Group granted deferred fixed cash compensation of CHF 98 million to certain employees in the Americas. This compensation will be expensed in the Global Markets, Investment Banking & Capital Markets and International Wealth Management divisions over a three-year period from the grant date. Amortization of this compensation totaled CHF 33 million in 2Q18. | ||||
Deferred Compensation Arrangement with Individual, Maximum Contractual Term | 3 years | ||||
Bank | |||||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |||||
Compensation expense relating to deferred compensation | SFr 683 | SFr 804 | |||
Bank | Other variable compensation | |||||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |||||
Deferred Compensation Arrangement with Individual, Cash Award Granted, Amount | SFr 98 | 98 | |||
Compensation expense relating to deferred compensation | SFr 33 | ||||
Bank | Other variable compensation | Cliff vesting [Member] | |||||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |||||
Deferred Compensation Arrangement with Individual, Description | In 6M18, the Bank granted fixed deferred cash compensation of CHF 98 million to certain employees in the Americas. This compensation will be expensed in the Global Markets, Investment Banking & Capital Markets and International Wealth Management divisions over a three-year period from the grant date. Amortization of this compensation totaled CHF 33 million in 6M18. | ||||
Deferred Compensation Arrangement with Individual, Maximum Contractual Term | 3 years |
Pension and other post-retir120
Pension and other post-retirement benefits - Obligation and funded status (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 | Dec. 31, 2017 | |
Total benefit costs | ||||||
Service costs on benefit obligation | SFr 65 | SFr 65 | SFr 67 | SFr 130 | SFr 133 | |
Interest costs on benefit obligation | 39 | 39 | 36 | 78 | 73 | |
Expected return on plan assets | (150) | (149) | (151) | (299) | (303) | |
Amortization of recognized prior service cost/(credit) | (31) | (32) | (33) | (63) | (65) | |
Amortization of recognized actuarial losses/(gains) | 90 | 89 | 100 | 179 | 201 | |
Settlement losses/(gains) | 0 | (1) | 0 | (1) | (1) | |
Curtailment losses/(gains) | (6) | (7) | (8) | (13) | (26) | |
Special termination benefits | 10 | 7 | 4 | 17 | 4 | |
Net periodic benefit/(costs) | 17 | 11 | 15 | 28 | 16 | |
PBO | ||||||
Service costs | 65 | 65 | 67 | 130 | 133 | |
Interest costs | 39 | 39 | 36 | 78 | 73 | |
Total amount recognized | ||||||
Noncurrent assets | 2,504 | 2,389 | 2,504 | SFr 2,170 | ||
Pension and Other Postretirement Benefit Contributions | ||||||
Contributions expected to be made by the company by the end of the current fiscal year | 432 | 432 | ||||
Contributions made to defined benefit pension plans and other post-retirement defined benefit plans | 251 | |||||
Defined benefit and defined contribution | ||||||
Total benefit costs | ||||||
Service costs on benefit obligation | 108 | 107 | 106 | 215 | 217 | |
PBO | ||||||
Service costs | 108 | SFr 107 | SFr 106 | 215 | 217 | |
Bank | ||||||
Total amount recognized | ||||||
Noncurrent assets | SFr 1,062 | 1,062 | SFr 1,058 | |||
Bank | Defined benefit and defined contribution | ||||||
Total benefit costs | ||||||
Service costs on benefit obligation | 278 | |||||
PBO | ||||||
Service costs | 278 | |||||
Bank | International | ||||||
Total benefit costs | ||||||
Service costs on benefit obligation | 8 | 11 | ||||
Interest costs on benefit obligation | 47 | 48 | ||||
Expected return on plan assets | (58) | (66) | ||||
Amortization of recognized actuarial losses/(gains) | 26 | 31 | ||||
Curtailment losses/(gains) | 0 | (5) | ||||
Net periodic benefit/(costs) | 23 | 19 | ||||
PBO | ||||||
Service costs | 8 | 11 | ||||
Interest costs | 47 | SFr 48 | ||||
Pension and Other Postretirement Benefit Contributions | ||||||
Contributions previously expected to be made by the company by the end of the current fiscal year | 27 | |||||
Contributions made to defined benefit pension plans and other post-retirement defined benefit plans | SFr 14 |
Derivatives and hedging acti121
Derivatives and hedging activities - Fair value - balance sheet related (Details) - CHF (SFr) SFr in Billions | 6 Months Ended | |
Jun. 30, 2018 | Dec. 31, 2017 | |
Fair value of derivative instruments | ||
Notional amount | SFr 33,402.5 | SFr 28,767.5 |
Positive replacement value (PRV) | 143.8 | 148.4 |
Negative replacement value (NRV) | SFr 146.3 | 151.9 |
Cash flow hedges | ||
Maximum Length of Time Hedged in Cash Flow Hedge | 4 years | |
Not designated for hedge accounting | ||
Fair value of derivative instruments | ||
Notional amount | SFr 33,339.7 | 28,705.3 |
Positive replacement value (PRV) | 143.6 | 148.2 |
Negative replacement value (NRV) | 146.1 | 151.5 |
Not designated for hedge accounting | Interest rate derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 29,697.1 | 24,898.6 |
Positive replacement value (PRV) | 76.3 | 87 |
Negative replacement value (NRV) | 71.6 | 82.1 |
Not designated for hedge accounting | Interest rate derivatives | Forwards and forward rate agreements | ||
Fair value of derivative instruments | ||
Notional amount | 10,168.2 | 8,509.3 |
Positive replacement value (PRV) | 2.4 | 1.2 |
Negative replacement value (NRV) | 2.5 | 1.2 |
Not designated for hedge accounting | Interest rate derivatives | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 14,920.1 | 13,047.8 |
Positive replacement value (PRV) | 53 | 60.4 |
Negative replacement value (NRV) | 49 | 56.6 |
Not designated for hedge accounting | Interest rate derivatives | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 2,584 | 2,374.5 |
Positive replacement value (PRV) | 20.6 | 25.2 |
Negative replacement value (NRV) | 19.7 | 24 |
Not designated for hedge accounting | Interest rate derivatives | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 788.1 | 547.8 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Not designated for hedge accounting | Interest rate derivatives | Options bought and sold (exchange traded) | ||
Fair value of derivative instruments | ||
Notional amount | 1,236.7 | 419.2 |
Positive replacement value (PRV) | 0.3 | 0.2 |
Negative replacement value (NRV) | 0.4 | 0.3 |
Not designated for hedge accounting | Foreign exchange derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 2,270.7 | 2,402.2 |
Positive replacement value (PRV) | 37 | 30.5 |
Negative replacement value (NRV) | 41.3 | 35.8 |
Not designated for hedge accounting | Foreign exchange derivatives | Forwards | ||
Fair value of derivative instruments | ||
Notional amount | 1,289.5 | 1,387.9 |
Positive replacement value (PRV) | 13.4 | 10.7 |
Negative replacement value (NRV) | 14 | 11.1 |
Not designated for hedge accounting | Foreign exchange derivatives | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 526.9 | 581.1 |
Positive replacement value (PRV) | 17.8 | 15.2 |
Negative replacement value (NRV) | 21.2 | 19.9 |
Not designated for hedge accounting | Foreign exchange derivatives | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 439.8 | 414.8 |
Positive replacement value (PRV) | 5.8 | 4.6 |
Negative replacement value (NRV) | 6 | 4.8 |
Not designated for hedge accounting | Foreign exchange derivatives | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 10.3 | 13 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Not designated for hedge accounting | Foreign exchange derivatives | Options bought and sold (exchange traded) | ||
Fair value of derivative instruments | ||
Notional amount | 4.2 | 5.4 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0.1 | 0 |
Not designated for hedge accounting | Credit derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 462.6 | 524.9 |
Positive replacement value (PRV) | 6.7 | 7.7 |
Negative replacement value (NRV) | 8.1 | 8.9 |
Not designated for hedge accounting | Equity/index-related derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 862.6 | 826.9 |
Positive replacement value (PRV) | 22.2 | 21.4 |
Negative replacement value (NRV) | 24 | 23.2 |
Not designated for hedge accounting | Equity/index-related derivatives | Forwards | ||
Fair value of derivative instruments | ||
Notional amount | 2.3 | 0.9 |
Positive replacement value (PRV) | 0.1 | 0 |
Negative replacement value (NRV) | 0.1 | 0.1 |
Not designated for hedge accounting | Equity/index-related derivatives | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 187.7 | 198.7 |
Positive replacement value (PRV) | 4.1 | 3.8 |
Negative replacement value (NRV) | 4.6 | 4.9 |
Not designated for hedge accounting | Equity/index-related derivatives | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 224 | 221.3 |
Positive replacement value (PRV) | 8 | 8.3 |
Negative replacement value (NRV) | 7.3 | 7.9 |
Not designated for hedge accounting | Equity/index-related derivatives | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 37.9 | 32.8 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Not designated for hedge accounting | Equity/index-related derivatives | Options bought and sold (exchange traded) | ||
Fair value of derivative instruments | ||
Notional amount | 410.7 | 373.2 |
Positive replacement value (PRV) | 10 | 9.3 |
Negative replacement value (NRV) | 12 | 10.3 |
Not designated for hedge accounting | Other products | ||
Fair value of derivative instruments | ||
Notional amount | 46.7 | 52.7 |
Positive replacement value (PRV) | 1.4 | 1.6 |
Negative replacement value (NRV) | 1.1 | 1.5 |
Not designated for hedge accounting | Other products | Forwards | ||
Fair value of derivative instruments | ||
Notional amount | 6 | 7 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0.1 |
Not designated for hedge accounting | Other products | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 18.7 | 17.9 |
Positive replacement value (PRV) | 1.3 | 1.5 |
Negative replacement value (NRV) | 1 | 1.4 |
Not designated for hedge accounting | Other products | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 8.2 | 10.1 |
Positive replacement value (PRV) | 0.1 | 0.1 |
Negative replacement value (NRV) | 0.1 | 0 |
Not designated for hedge accounting | Other products | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 12.5 | 15.6 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Not designated for hedge accounting | Other products | Options bought and sold (exchange traded) | ||
Fair value of derivative instruments | ||
Notional amount | 1.3 | 2.1 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | ||
Fair value of derivative instruments | ||
Notional amount | 62.8 | 62.2 |
Positive replacement value (PRV) | 0.2 | 0.2 |
Negative replacement value (NRV) | 0.2 | 0.4 |
Designated for hedge accounting | Interest rate derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 49.5 | 46.8 |
Positive replacement value (PRV) | 0.1 | 0.2 |
Negative replacement value (NRV) | 0.2 | 0.2 |
Designated for hedge accounting | Interest rate derivatives | Forwards and forward rate agreements | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Interest rate derivatives | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 49.5 | 46.8 |
Positive replacement value (PRV) | 0.1 | 0.2 |
Negative replacement value (NRV) | 0.2 | 0.2 |
Designated for hedge accounting | Interest rate derivatives | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Interest rate derivatives | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Interest rate derivatives | Options bought and sold (exchange traded) | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Foreign exchange derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 13.3 | 15.4 |
Positive replacement value (PRV) | 0.1 | 0 |
Negative replacement value (NRV) | 0 | 0.2 |
Designated for hedge accounting | Foreign exchange derivatives | Forwards | ||
Fair value of derivative instruments | ||
Notional amount | 12.6 | 13.3 |
Positive replacement value (PRV) | 0.1 | 0 |
Negative replacement value (NRV) | 0 | 0.2 |
Designated for hedge accounting | Foreign exchange derivatives | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Foreign exchange derivatives | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 0.7 | 2.1 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Foreign exchange derivatives | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Foreign exchange derivatives | Options bought and sold (exchange traded) | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Credit derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Equity/index-related derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Equity/index-related derivatives | Forwards | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Equity/index-related derivatives | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Equity/index-related derivatives | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Equity/index-related derivatives | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Equity/index-related derivatives | Options bought and sold (exchange traded) | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Other products | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Other products | Forwards | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Other products | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Other products | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Other products | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Other products | Options bought and sold (exchange traded) | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | ||
Fair value of derivative instruments | ||
Notional amount | 33,403.7 | 28,769.4 |
Positive replacement value (PRV) | 143.9 | 148.7 |
Negative replacement value (NRV) | SFr 146.4 | 152.2 |
Cash flow hedges | ||
Maximum Length of Time Hedged in Cash Flow Hedge | 4 years | |
Bank | Not designated for hedge accounting | ||
Fair value of derivative instruments | ||
Notional amount | SFr 33,340.9 | 28,707.2 |
Positive replacement value (PRV) | 143.7 | 148.5 |
Negative replacement value (NRV) | 146.2 | 151.8 |
Bank | Not designated for hedge accounting | Interest rate derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 29,698.1 | 24,899.6 |
Positive replacement value (PRV) | 76.3 | 87 |
Negative replacement value (NRV) | 71.6 | 81.8 |
Bank | Not designated for hedge accounting | Interest rate derivatives | Forwards and forward rate agreements | ||
Fair value of derivative instruments | ||
Notional amount | 10,168.2 | 8,509.3 |
Positive replacement value (PRV) | 2.4 | 1.2 |
Negative replacement value (NRV) | 2.5 | 1.2 |
Bank | Not designated for hedge accounting | Interest rate derivatives | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 14,921.1 | 13,048.8 |
Positive replacement value (PRV) | 53 | 60.4 |
Negative replacement value (NRV) | 49 | 56.3 |
Bank | Not designated for hedge accounting | Interest rate derivatives | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 2,584 | 2,374.5 |
Positive replacement value (PRV) | 20.6 | 25.2 |
Negative replacement value (NRV) | 19.7 | 24 |
Bank | Not designated for hedge accounting | Interest rate derivatives | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 788.1 | 547.8 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Not designated for hedge accounting | Interest rate derivatives | Options bought and sold (exchange traded) | ||
Fair value of derivative instruments | ||
Notional amount | 1,236.7 | 419.2 |
Positive replacement value (PRV) | 0.3 | 0.2 |
Negative replacement value (NRV) | 0.4 | 0.3 |
Bank | Not designated for hedge accounting | Foreign exchange derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 2,270.7 | 2,402.2 |
Positive replacement value (PRV) | 37 | 30.5 |
Negative replacement value (NRV) | 41.3 | 35.8 |
Bank | Not designated for hedge accounting | Foreign exchange derivatives | Forwards | ||
Fair value of derivative instruments | ||
Notional amount | 1,289.5 | 1,387.9 |
Positive replacement value (PRV) | 13.4 | 10.7 |
Negative replacement value (NRV) | 14 | 11.1 |
Bank | Not designated for hedge accounting | Foreign exchange derivatives | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 526.9 | 581.1 |
Positive replacement value (PRV) | 17.8 | 15.2 |
Negative replacement value (NRV) | 21.2 | 19.9 |
Bank | Not designated for hedge accounting | Foreign exchange derivatives | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 439.8 | 414.8 |
Positive replacement value (PRV) | 5.8 | 4.6 |
Negative replacement value (NRV) | 6 | 4.8 |
Bank | Not designated for hedge accounting | Foreign exchange derivatives | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 10.3 | 13 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Not designated for hedge accounting | Foreign exchange derivatives | Options bought and sold (exchange traded) | ||
Fair value of derivative instruments | ||
Notional amount | 4.2 | 5.4 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0.1 | 0 |
Bank | Not designated for hedge accounting | Credit derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 462.6 | 524.9 |
Positive replacement value (PRV) | 6.7 | 7.7 |
Negative replacement value (NRV) | 8.1 | 8.9 |
Bank | Not designated for hedge accounting | Equity/index-related derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 862.8 | 827.8 |
Positive replacement value (PRV) | 22.3 | 21.7 |
Negative replacement value (NRV) | 24.1 | 23.8 |
Bank | Not designated for hedge accounting | Equity/index-related derivatives | Forwards | ||
Fair value of derivative instruments | ||
Notional amount | 2.3 | 0.9 |
Positive replacement value (PRV) | 0.1 | 0 |
Negative replacement value (NRV) | 0.1 | 0.1 |
Bank | Not designated for hedge accounting | Equity/index-related derivatives | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 187.7 | 199.1 |
Positive replacement value (PRV) | 4.1 | 3.8 |
Negative replacement value (NRV) | 4.6 | 4.9 |
Bank | Not designated for hedge accounting | Equity/index-related derivatives | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 224.2 | 221.8 |
Positive replacement value (PRV) | 8.1 | 8.6 |
Negative replacement value (NRV) | 7.4 | 8.5 |
Bank | Not designated for hedge accounting | Equity/index-related derivatives | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 37.9 | 32.8 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Not designated for hedge accounting | Equity/index-related derivatives | Options bought and sold (exchange traded) | ||
Fair value of derivative instruments | ||
Notional amount | 410.7 | 373.2 |
Positive replacement value (PRV) | 10 | 9.3 |
Negative replacement value (NRV) | 12 | 10.3 |
Bank | Not designated for hedge accounting | Other products | ||
Fair value of derivative instruments | ||
Notional amount | 46.7 | 52.7 |
Positive replacement value (PRV) | 1.4 | 1.6 |
Negative replacement value (NRV) | 1.1 | 1.5 |
Bank | Not designated for hedge accounting | Other products | Forwards | ||
Fair value of derivative instruments | ||
Notional amount | 6 | 7 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0.1 |
Bank | Not designated for hedge accounting | Other products | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 18.7 | 17.9 |
Positive replacement value (PRV) | 1.3 | 1.5 |
Negative replacement value (NRV) | 1 | 1.4 |
Bank | Not designated for hedge accounting | Other products | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 8.2 | 10.1 |
Positive replacement value (PRV) | 0.1 | 0.1 |
Negative replacement value (NRV) | 0.1 | 0 |
Bank | Not designated for hedge accounting | Other products | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 12.5 | 15.6 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Not designated for hedge accounting | Other products | Options bought and sold (exchange traded) | ||
Fair value of derivative instruments | ||
Notional amount | 1.3 | 2.1 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | ||
Fair value of derivative instruments | ||
Notional amount | 62.8 | 62.2 |
Positive replacement value (PRV) | 0.2 | 0.2 |
Negative replacement value (NRV) | 0.2 | 0.4 |
Bank | Designated for hedge accounting | Interest rate derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 49.5 | 46.8 |
Positive replacement value (PRV) | 0.1 | 0.2 |
Negative replacement value (NRV) | 0.2 | 0.2 |
Bank | Designated for hedge accounting | Interest rate derivatives | Forwards and forward rate agreements | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Interest rate derivatives | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 49.5 | 46.8 |
Positive replacement value (PRV) | 0.1 | 0.2 |
Negative replacement value (NRV) | 0.2 | 0.2 |
Bank | Designated for hedge accounting | Interest rate derivatives | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Interest rate derivatives | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Interest rate derivatives | Options bought and sold (exchange traded) | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Foreign exchange derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 13.3 | 15.4 |
Positive replacement value (PRV) | 0.1 | 0 |
Negative replacement value (NRV) | 0 | 0.2 |
Bank | Designated for hedge accounting | Foreign exchange derivatives | Forwards | ||
Fair value of derivative instruments | ||
Notional amount | 12.6 | 13.3 |
Positive replacement value (PRV) | 0.1 | 0 |
Negative replacement value (NRV) | 0 | 0.2 |
Bank | Designated for hedge accounting | Foreign exchange derivatives | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Foreign exchange derivatives | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 0.7 | 2.1 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Foreign exchange derivatives | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Foreign exchange derivatives | Options bought and sold (exchange traded) | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Credit derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Equity/index-related derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Equity/index-related derivatives | Forwards | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Equity/index-related derivatives | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Equity/index-related derivatives | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Equity/index-related derivatives | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Equity/index-related derivatives | Options bought and sold (exchange traded) | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Other products | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Other products | Forwards | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Other products | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Other products | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Other products | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Other products | Options bought and sold (exchange traded) | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | SFr 0 | SFr 0 |
Derivatives and hedging acti122
Derivatives and hedging activities - Movements (Details 2) - 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 | |
Fair value hedges | |||||
Derivative Instruments, Gain (Loss) | |||||
Gains/(losses) recognized in income on derivatives | SFr (106) | SFr (649) | SFr 282 | SFr (755) | SFr 31 |
Gains/(losses) recognized in income on hedged items | 100 | 690 | (301) | 790 | (44) |
Net gains/(losses) on the ineffective portion | (6) | 41 | (19) | 35 | (13) |
Fair value hedges | Interest rate derivatives | |||||
Derivative Instruments, Gain (Loss) | |||||
Gains/(losses) recognized in income on derivatives | (106) | (649) | 282 | (755) | 31 |
Gains/(losses) recognized in income on hedged items | 100 | 690 | (301) | 790 | (44) |
Cash flow hedges | |||||
Derivative Instruments, Gain (Loss) | |||||
Net gains/(losses) on the ineffective portion | (1) | (1) | (2) | (2) | 1 |
Gains/(losses) recognized in AOCI on derivatives | (110) | (58) | (18) | (168) | (29) |
Gains/(losses) reclassified from AOCI into income | (66) | (16) | (18) | (82) | (22) |
Expected reclassification of net gains/(losses) from AOCI into earnings during the next 12 months | (64) | ||||
Cash flow hedges | Interest rate derivatives | |||||
Derivative Instruments, Gain (Loss) | |||||
Gains/(losses) recognized in AOCI on derivatives | (31) | (61) | 8 | (92) | 1 |
Gains/(losses) reclassified from AOCI into income | (24) | (16) | (2) | (40) | (2) |
Cash flow hedges | Foreign exchange derivatives | |||||
Derivative Instruments, Gain (Loss) | |||||
Gains/(losses) recognized in AOCI on derivatives | (79) | 3 | (26) | (76) | (30) |
Gains/(losses) reclassified from AOCI into income | (42) | 0 | (16) | (42) | (20) |
Net investment hedges | |||||
Derivative Instruments, Gain (Loss) | |||||
Gains/(losses) recognized in AOCI on derivatives | 141 | 17 | 133 | 158 | (54) |
Net investment hedges | Foreign exchange derivatives | |||||
Derivative Instruments, Gain (Loss) | |||||
Gains/(losses) recognized in AOCI on derivatives | SFr 141 | SFr 17 | SFr 133 | 158 | (54) |
Bank | Fair value hedges | |||||
Derivative Instruments, Gain (Loss) | |||||
Gains/(losses) recognized in income on derivatives | (755) | 31 | |||
Gains/(losses) recognized in income on hedged items | 790 | (44) | |||
Net gains/(losses) on the ineffective portion | 35 | (13) | |||
Bank | Fair value hedges | Interest rate derivatives | |||||
Derivative Instruments, Gain (Loss) | |||||
Gains/(losses) recognized in income on derivatives | (755) | 31 | |||
Gains/(losses) recognized in income on hedged items | 790 | (44) | |||
Bank | Cash flow hedges | |||||
Derivative Instruments, Gain (Loss) | |||||
Net gains/(losses) on the ineffective portion | (2) | 1 | |||
Gains/(losses) recognized in AOCI on derivatives | (165) | (29) | |||
Gains/(losses) reclassified from AOCI into income | (79) | (19) | |||
Expected reclassification of net gains/(losses) from AOCI into earnings during the next 12 months | (54) | ||||
Bank | Cash flow hedges | Interest rate derivatives | |||||
Derivative Instruments, Gain (Loss) | |||||
Gains/(losses) recognized in AOCI on derivatives | (92) | 1 | |||
Gains/(losses) reclassified from AOCI into income | (40) | (2) | |||
Bank | Cash flow hedges | Foreign exchange derivatives | |||||
Derivative Instruments, Gain (Loss) | |||||
Gains/(losses) recognized in AOCI on derivatives | (73) | (30) | |||
Gains/(losses) reclassified from AOCI into income | (39) | (17) | |||
Bank | Net investment hedges | |||||
Derivative Instruments, Gain (Loss) | |||||
Gains/(losses) recognized in AOCI on derivatives | 158 | (54) | |||
Bank | Net investment hedges | Foreign exchange derivatives | |||||
Derivative Instruments, Gain (Loss) | |||||
Gains/(losses) recognized in AOCI on derivatives | SFr 158 | SFr (54) |
Derivatives and hedging acti123
Derivatives and hedging activities - Contingent credit risk (Details 3) - CHF (SFr) SFr in Billions | Jun. 30, 2018 | Dec. 31, 2017 |
Contingent credit risk | ||
Current net exposure | SFr 5.3 | SFr 6.7 |
Collateral posted | 3.4 | 4.5 |
Impact of a one-notch downgrade event | ||
Contingent credit risk | ||
Collateral posted | 0.2 | 0.4 |
Impact of a two-notch downgrade event | ||
Contingent credit risk | ||
Collateral posted | 1.3 | 1.6 |
Impact of a three-notch downgrade event | ||
Contingent credit risk | ||
Collateral posted | 1.7 | 2.1 |
Bilateral counterparties | ||
Contingent credit risk | ||
Current net exposure | 4.3 | 5.4 |
Collateral posted | 3.3 | 4.4 |
Bilateral counterparties | Impact of a one-notch downgrade event | ||
Contingent credit risk | ||
Collateral posted | 0.2 | 0.2 |
Bilateral counterparties | Impact of a two-notch downgrade event | ||
Contingent credit risk | ||
Collateral posted | 0.8 | 0.9 |
Bilateral counterparties | Impact of a three-notch downgrade event | ||
Contingent credit risk | ||
Collateral posted | 0.9 | 1 |
Special purpose entities | ||
Contingent credit risk | ||
Current net exposure | 0.1 | 0.1 |
Collateral posted | 0.1 | 0.1 |
Special purpose entities | Impact of a one-notch downgrade event | ||
Contingent credit risk | ||
Collateral posted | 0 | 0.1 |
Special purpose entities | Impact of a two-notch downgrade event | ||
Contingent credit risk | ||
Collateral posted | 0.2 | 0.2 |
Special purpose entities | Impact of a three-notch downgrade event | ||
Contingent credit risk | ||
Collateral posted | 0.3 | 0.4 |
Accelerated terminations | ||
Contingent credit risk | ||
Current net exposure | 0.9 | 1.2 |
Accelerated terminations | Impact of a one-notch downgrade event | ||
Contingent credit risk | ||
Collateral posted | 0 | 0.1 |
Accelerated terminations | Impact of a two-notch downgrade event | ||
Contingent credit risk | ||
Collateral posted | 0.3 | 0.5 |
Accelerated terminations | Impact of a three-notch downgrade event | ||
Contingent credit risk | ||
Collateral posted | 0.5 | 0.7 |
Bank | ||
Contingent credit risk | ||
Current net exposure | 5.3 | 6.7 |
Collateral posted | 3.4 | 4.5 |
Bank | Impact of a one-notch downgrade event | ||
Contingent credit risk | ||
Collateral posted | 0.2 | 0.4 |
Bank | Impact of a two-notch downgrade event | ||
Contingent credit risk | ||
Collateral posted | 1.3 | 1.6 |
Bank | Impact of a three-notch downgrade event | ||
Contingent credit risk | ||
Collateral posted | 1.7 | 2.1 |
Bank | Bilateral counterparties | ||
Contingent credit risk | ||
Current net exposure | 4.3 | 5.4 |
Collateral posted | 3.3 | 4.4 |
Bank | Bilateral counterparties | Impact of a one-notch downgrade event | ||
Contingent credit risk | ||
Collateral posted | 0.2 | 0.2 |
Bank | Bilateral counterparties | Impact of a two-notch downgrade event | ||
Contingent credit risk | ||
Collateral posted | 0.8 | 0.9 |
Bank | Bilateral counterparties | Impact of a three-notch downgrade event | ||
Contingent credit risk | ||
Collateral posted | 0.9 | 1 |
Bank | Special purpose entities | ||
Contingent credit risk | ||
Current net exposure | 0.1 | 0.1 |
Collateral posted | 0.1 | 0.1 |
Bank | Special purpose entities | Impact of a one-notch downgrade event | ||
Contingent credit risk | ||
Collateral posted | 0 | 0.1 |
Bank | Special purpose entities | Impact of a two-notch downgrade event | ||
Contingent credit risk | ||
Collateral posted | 0.2 | 0.2 |
Bank | Special purpose entities | Impact of a three-notch downgrade event | ||
Contingent credit risk | ||
Collateral posted | 0.3 | 0.4 |
Bank | Accelerated terminations | ||
Contingent credit risk | ||
Current net exposure | 0.9 | 1.2 |
Bank | Accelerated terminations | Impact of a one-notch downgrade event | ||
Contingent credit risk | ||
Collateral posted | 0 | 0.1 |
Bank | Accelerated terminations | Impact of a two-notch downgrade event | ||
Contingent credit risk | ||
Collateral posted | 0.3 | 0.5 |
Bank | Accelerated terminations | Impact of a three-notch downgrade event | ||
Contingent credit risk | ||
Collateral posted | SFr 0.5 | SFr 0.7 |
Derivatives and hedging acti124
Derivatives and hedging activities - Credit protection sold/purchased (Details 4) - CHF (SFr) SFr in Billions | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2018 | Dec. 31, 2017 | Jun. 30, 2018 | |
Credit protection sold/purchased | |||
Credit protection sold | SFr (190.3) | SFr (213.9) | SFr (190.3) |
Credit protection purchased | 181.7 | 203.6 | |
Net credit protection (sold)/purchased | (8.6) | (10.3) | |
Other protection purchased | 80.4 | 100.9 | |
Fair value of credit protection sold | 1.3 | 3 | 1.3 |
Total return swaps | |||
Credit protection sold/purchased | |||
Credit protection sold | (10.2) | (6.7) | (10.2) |
Maturity less than 1 year | |||
Credit protection sold/purchased | |||
Credit protection sold | (38.1) | (52.8) | (38.1) |
Maturity between 1 to 5 years | |||
Credit protection sold/purchased | |||
Credit protection sold | (127.7) | (139.3) | (127.7) |
Maturity greater than 5 years | |||
Credit protection sold/purchased | |||
Credit protection sold | (24.5) | (21.8) | (24.5) |
Government debt securities | |||
Credit protection sold/purchased | |||
Credit protection sold | (18) | (21.3) | (18) |
Credit protection purchased | 16.3 | 19.5 | |
Net credit protection (sold)/purchased | (1.7) | (1.8) | |
Other protection purchased | 5.9 | 6.5 | |
Fair value of credit protection sold | (0.3) | 0.2 | (0.3) |
Non-sovereigns | |||
Credit protection sold/purchased | |||
Credit protection sold | (172.3) | (192.6) | (172.3) |
Credit protection purchased | 165.4 | 184.1 | |
Net credit protection (sold)/purchased | (6.9) | (8.5) | |
Other protection purchased | 74.5 | 94.4 | |
Fair value of credit protection sold | 1.6 | 2.8 | 1.6 |
Investment grade | |||
Credit protection sold/purchased | |||
Credit protection sold | (144) | (164.7) | (144) |
Credit protection purchased | 138.6 | 158.5 | |
Net credit protection (sold)/purchased | (5.4) | (6.2) | |
Other protection purchased | 55.8 | 74.6 | |
Fair value of credit protection sold | 0.5 | 1.6 | 0.5 |
Non-investment grade | |||
Credit protection sold/purchased | |||
Credit protection sold | (46.3) | (49.2) | (46.3) |
Credit protection purchased | 43.1 | 45.1 | |
Net credit protection (sold)/purchased | (3.2) | (4.1) | |
Other protection purchased | 24.6 | 26.3 | |
Fair value of credit protection sold | 0.8 | 1.4 | 0.8 |
Single-name instruments | |||
Credit protection sold/purchased | |||
Credit protection sold | (75.5) | (85.8) | (75.5) |
Credit protection purchased | 69.3 | 79.3 | |
Net credit protection (sold)/purchased | (6.2) | (6.5) | |
Other protection purchased | 31.1 | 29.6 | |
Fair value of credit protection sold | 0.6 | 1.4 | 0.6 |
Single-name instruments | Maturity less than 1 year | |||
Credit protection sold/purchased | |||
Credit protection sold | (14.4) | (21.6) | (14.4) |
Single-name instruments | Maturity between 1 to 5 years | |||
Credit protection sold/purchased | |||
Credit protection sold | (56.7) | (59.4) | (56.7) |
Single-name instruments | Maturity greater than 5 years | |||
Credit protection sold/purchased | |||
Credit protection sold | (4.4) | (4.8) | (4.4) |
Single-name instruments | Government debt securities | |||
Credit protection sold/purchased | |||
Credit protection sold | (17.8) | (21) | (17.8) |
Credit protection purchased | 16.1 | 19.2 | |
Net credit protection (sold)/purchased | (1.7) | (1.8) | |
Other protection purchased | 5.9 | 6.2 | |
Fair value of credit protection sold | (0.3) | 0.2 | (0.3) |
Single-name instruments | Non-sovereigns | |||
Credit protection sold/purchased | |||
Credit protection sold | (57.7) | (64.8) | (57.7) |
Credit protection purchased | 53.2 | 60.1 | |
Net credit protection (sold)/purchased | (4.5) | (4.7) | |
Other protection purchased | 25.2 | 23.4 | |
Fair value of credit protection sold | 0.9 | 1.2 | 0.9 |
Single-name instruments | Investment grade | |||
Credit protection sold/purchased | |||
Credit protection sold | (49.5) | (57.6) | (49.5) |
Credit protection purchased | 46.3 | 53.8 | |
Net credit protection (sold)/purchased | (3.2) | (3.8) | |
Other protection purchased | 14.7 | 15.3 | |
Fair value of credit protection sold | 0.5 | 0.9 | 0.5 |
Single-name instruments | Non-investment grade | |||
Credit protection sold/purchased | |||
Credit protection sold | (26) | (28.2) | (26) |
Credit protection purchased | 23 | 25.5 | |
Net credit protection (sold)/purchased | (3) | (2.7) | |
Other protection purchased | 16.4 | 14.3 | |
Fair value of credit protection sold | 0.1 | 0.5 | 0.1 |
Multi-name instruments | |||
Credit protection sold/purchased | |||
Credit protection sold | (114.8) | (128.1) | (114.8) |
Credit protection purchased | 112.4 | 124.3 | |
Net credit protection (sold)/purchased | (2.4) | (3.8) | |
Other protection purchased | 49.3 | 71.3 | |
Fair value of credit protection sold | 0.7 | 1.6 | 0.7 |
Multi-name instruments | Maturity less than 1 year | |||
Credit protection sold/purchased | |||
Credit protection sold | (23.7) | (31.2) | (23.7) |
Multi-name instruments | Maturity between 1 to 5 years | |||
Credit protection sold/purchased | |||
Credit protection sold | (71) | (79.9) | (71) |
Multi-name instruments | Maturity greater than 5 years | |||
Credit protection sold/purchased | |||
Credit protection sold | (20.1) | (17) | (20.1) |
Multi-name instruments | Government debt securities | |||
Credit protection sold/purchased | |||
Credit protection sold | (0.2) | (0.3) | (0.2) |
Credit protection purchased | 0.2 | 0.3 | |
Net credit protection (sold)/purchased | 0 | 0 | |
Other protection purchased | 0 | 0.3 | |
Fair value of credit protection sold | 0 | 0 | 0 |
Multi-name instruments | Non-sovereigns | |||
Credit protection sold/purchased | |||
Credit protection sold | (114.6) | (127.8) | (114.6) |
Credit protection purchased | 112.2 | 124 | |
Net credit protection (sold)/purchased | (2.4) | (3.8) | |
Other protection purchased | 49.3 | 71 | |
Fair value of credit protection sold | 0.7 | 1.6 | 0.7 |
Multi-name instruments | Investment grade | |||
Credit protection sold/purchased | |||
Credit protection sold | (94.5) | (107.1) | (94.5) |
Credit protection purchased | 92.3 | 104.7 | |
Net credit protection (sold)/purchased | (2.2) | (2.4) | |
Other protection purchased | 41.1 | 59.3 | |
Fair value of credit protection sold | 0 | 0.7 | 0 |
Multi-name instruments | Non-investment grade | |||
Credit protection sold/purchased | |||
Credit protection sold | (20.3) | (21) | (20.3) |
Credit protection purchased | 20.1 | 19.6 | |
Net credit protection (sold)/purchased | (0.2) | (1.4) | |
Other protection purchased | 8.2 | 12 | |
Fair value of credit protection sold | 0.7 | 0.9 | 0.7 |
Bank | |||
Credit protection sold/purchased | |||
Credit protection sold | (190.3) | (213.9) | (190.3) |
Credit protection purchased | 203.6 | 181.7 | |
Net credit protection (sold)/purchased | (10.3) | (8.6) | |
Other protection purchased | 100.9 | 80.4 | |
Fair value of credit protection sold | 1.3 | 3 | 1.3 |
Bank | Total return swaps | |||
Credit protection sold/purchased | |||
Credit protection sold | (10.2) | (6.7) | (10.2) |
Bank | Maturity less than 1 year | |||
Credit protection sold/purchased | |||
Credit protection sold | (38.1) | (52.8) | (38.1) |
Bank | Maturity between 1 to 5 years | |||
Credit protection sold/purchased | |||
Credit protection sold | (127.7) | (139.3) | (127.7) |
Bank | Maturity greater than 5 years | |||
Credit protection sold/purchased | |||
Credit protection sold | (24.5) | (21.8) | (24.5) |
Bank | Government debt securities | |||
Credit protection sold/purchased | |||
Credit protection sold | (18) | (21.3) | (18) |
Credit protection purchased | 19.5 | 16.3 | |
Net credit protection (sold)/purchased | (1.8) | (1.7) | |
Other protection purchased | 6.5 | 5.9 | |
Fair value of credit protection sold | (0.3) | 0.2 | (0.3) |
Bank | Non-sovereigns | |||
Credit protection sold/purchased | |||
Credit protection sold | (172.3) | (192.6) | (172.3) |
Credit protection purchased | 184.1 | 165.4 | |
Net credit protection (sold)/purchased | (8.5) | (6.9) | |
Other protection purchased | 94.4 | 74.5 | |
Fair value of credit protection sold | 1.6 | 2.8 | 1.6 |
Bank | Investment grade | |||
Credit protection sold/purchased | |||
Credit protection sold | (144) | (164.7) | (144) |
Credit protection purchased | 158.5 | 138.6 | |
Net credit protection (sold)/purchased | (6.2) | (5.4) | |
Other protection purchased | 74.6 | 55.8 | |
Fair value of credit protection sold | 0.5 | 1.6 | 0.5 |
Bank | Non-investment grade | |||
Credit protection sold/purchased | |||
Credit protection sold | (46.3) | (49.2) | (46.3) |
Credit protection purchased | 45.1 | 43.1 | |
Net credit protection (sold)/purchased | (4.1) | (3.2) | |
Other protection purchased | 26.3 | 24.6 | |
Fair value of credit protection sold | 0.8 | 1.4 | 0.8 |
Bank | Single-name instruments | |||
Credit protection sold/purchased | |||
Credit protection sold | (75.5) | (85.8) | (75.5) |
Credit protection purchased | 79.3 | 69.3 | |
Net credit protection (sold)/purchased | (6.5) | (6.2) | |
Other protection purchased | 29.6 | 31.1 | |
Fair value of credit protection sold | 0.6 | 1.4 | 0.6 |
Bank | Single-name instruments | Maturity less than 1 year | |||
Credit protection sold/purchased | |||
Credit protection sold | (14.4) | (21.6) | (14.4) |
Bank | Single-name instruments | Maturity between 1 to 5 years | |||
Credit protection sold/purchased | |||
Credit protection sold | (56.7) | (59.4) | (56.7) |
Bank | Single-name instruments | Maturity greater than 5 years | |||
Credit protection sold/purchased | |||
Credit protection sold | (4.4) | (4.8) | (4.4) |
Bank | Single-name instruments | Government debt securities | |||
Credit protection sold/purchased | |||
Credit protection sold | (17.8) | (21) | (17.8) |
Credit protection purchased | 19.2 | 16.1 | |
Net credit protection (sold)/purchased | (1.8) | (1.7) | |
Other protection purchased | 6.2 | 5.9 | |
Fair value of credit protection sold | (0.3) | 0.2 | (0.3) |
Bank | Single-name instruments | Non-sovereigns | |||
Credit protection sold/purchased | |||
Credit protection sold | (57.7) | (64.8) | (57.7) |
Credit protection purchased | 60.1 | 53.2 | |
Net credit protection (sold)/purchased | (4.7) | (4.5) | |
Other protection purchased | 23.4 | 25.2 | |
Fair value of credit protection sold | 0.9 | 1.2 | 0.9 |
Bank | Single-name instruments | Investment grade | |||
Credit protection sold/purchased | |||
Credit protection sold | (49.5) | (57.6) | (49.5) |
Credit protection purchased | 53.8 | 46.3 | |
Net credit protection (sold)/purchased | (3.8) | (3.2) | |
Other protection purchased | 15.3 | 14.7 | |
Fair value of credit protection sold | 0.5 | 0.9 | 0.5 |
Bank | Single-name instruments | Non-investment grade | |||
Credit protection sold/purchased | |||
Credit protection sold | (26) | (28.2) | (26) |
Credit protection purchased | 25.5 | 23 | |
Net credit protection (sold)/purchased | (2.7) | (3) | |
Other protection purchased | 14.3 | 16.4 | |
Fair value of credit protection sold | 0.1 | 0.5 | 0.1 |
Bank | Multi-name instruments | |||
Credit protection sold/purchased | |||
Credit protection sold | (114.8) | (128.1) | (114.8) |
Credit protection purchased | 124.3 | 112.4 | |
Net credit protection (sold)/purchased | (3.8) | (2.4) | |
Other protection purchased | 71.3 | 49.3 | |
Fair value of credit protection sold | 0.7 | 1.6 | 0.7 |
Bank | Multi-name instruments | Maturity less than 1 year | |||
Credit protection sold/purchased | |||
Credit protection sold | (23.7) | (31.2) | (23.7) |
Bank | Multi-name instruments | Maturity between 1 to 5 years | |||
Credit protection sold/purchased | |||
Credit protection sold | (71) | (79.9) | (71) |
Bank | Multi-name instruments | Maturity greater than 5 years | |||
Credit protection sold/purchased | |||
Credit protection sold | (20.1) | (17) | (20.1) |
Bank | Multi-name instruments | Government debt securities | |||
Credit protection sold/purchased | |||
Credit protection sold | (0.2) | (0.3) | (0.2) |
Credit protection purchased | 0.3 | 0.2 | |
Net credit protection (sold)/purchased | 0 | 0 | |
Other protection purchased | 0.3 | 0 | |
Fair value of credit protection sold | 0 | 0 | 0 |
Bank | Multi-name instruments | Non-sovereigns | |||
Credit protection sold/purchased | |||
Credit protection sold | (114.6) | (127.8) | (114.6) |
Credit protection purchased | 124 | 112.2 | |
Net credit protection (sold)/purchased | (3.8) | (2.4) | |
Other protection purchased | 71 | 49.3 | |
Fair value of credit protection sold | 0.7 | 1.6 | 0.7 |
Bank | Multi-name instruments | Investment grade | |||
Credit protection sold/purchased | |||
Credit protection sold | (94.5) | (107.1) | (94.5) |
Credit protection purchased | 104.7 | 92.3 | |
Net credit protection (sold)/purchased | (2.4) | (2.2) | |
Other protection purchased | 59.3 | 41.1 | |
Fair value of credit protection sold | 0 | 0.7 | 0 |
Bank | Multi-name instruments | Non-investment grade | |||
Credit protection sold/purchased | |||
Credit protection sold | (20.3) | (21) | (20.3) |
Credit protection purchased | 19.6 | 20.1 | |
Net credit protection (sold)/purchased | (1.4) | (0.2) | |
Other protection purchased | 12 | 8.2 | |
Fair value of credit protection sold | SFr 0.7 | SFr 0.9 | SFr 0.7 |
Derivatives and hedging acti125
Derivatives and hedging activities - Credit derivatives (Details 5) - CHF (SFr) SFr in Billions | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2018 | Dec. 31, 2017 | Jun. 30, 2018 | |
Credit Derivatives [Line Items] | |||
Credit protection sold | SFr 190.3 | SFr 213.9 | SFr 190.3 |
Credit protection purchased | 181.7 | 203.6 | |
Other protection purchased | 80.4 | 100.9 | |
Other instruments | 10.2 | 6.5 | |
Total credit derivatives | 462.6 | 524.9 | 462.6 |
Bank | |||
Credit Derivatives [Line Items] | |||
Credit protection sold | 190.3 | 213.9 | 190.3 |
Credit protection purchased | 203.6 | 181.7 | |
Other protection purchased | 100.9 | 80.4 | |
Other instruments | 6.5 | 10.2 | |
Total credit derivatives | SFr 462.6 | SFr 524.9 | SFr 462.6 |
Guarantees and commitments - Gu
Guarantees and commitments - Guarantees maturity (Details) - CHF (SFr) SFr in Millions | Jun. 30, 2018 | Dec. 31, 2017 |
Guarantees | ||
Maturity less than 1 year | SFr 30,522 | SFr 26,729 |
Maturity greater than 1 year | 11,422 | 14,682 |
Total gross amount | 41,944 | 41,411 |
Total net amount | 40,781 | 40,230 |
Carrying value | 549 | 506 |
Collateral received | 8,618 | 8,448 |
Credit guarantees and similar instruments | ||
Guarantees | ||
Maturity less than 1 year | 2,212 | 1,817 |
Maturity greater than 1 year | 1,135 | 1,269 |
Total gross amount | 3,347 | 3,086 |
Total net amount | 3,134 | 2,837 |
Carrying value | 3 | 12 |
Collateral received | 1,554 | 1,603 |
Performance guarantees and similar instruments | ||
Guarantees | ||
Maturity less than 1 year | 5,066 | 4,931 |
Maturity greater than 1 year | 1,971 | 2,212 |
Total gross amount | 7,037 | 7,143 |
Total net amount | 6,095 | 6,216 |
Carrying value | 47 | 44 |
Collateral received | 2,809 | 3,012 |
Derivatives | ||
Guarantees | ||
Maturity less than 1 year | 18,267 | 15,520 |
Maturity greater than 1 year | 6,219 | 8,984 |
Total gross amount | 24,486 | 24,504 |
Total net amount | 24,486 | 24,504 |
Carrying value | 445 | 403 |
Other guarantees | ||
Guarantees | ||
Maturity less than 1 year | 4,977 | 4,461 |
Maturity greater than 1 year | 2,097 | 2,217 |
Total gross amount | 7,074 | 6,678 |
Total net amount | 7,066 | 6,673 |
Carrying value | 54 | 47 |
Collateral received | 4,255 | 3,833 |
Bank | ||
Guarantees | ||
Maturity less than 1 year | 30,525 | 26,732 |
Maturity greater than 1 year | 11,427 | 14,682 |
Total gross amount | 41,952 | 41,414 |
Total net amount | 40,789 | 40,233 |
Carrying value | 549 | 506 |
Collateral received | 8,621 | 8,448 |
Bank | Credit guarantees and similar instruments | ||
Guarantees | ||
Maturity less than 1 year | 2,215 | 1,820 |
Maturity greater than 1 year | 1,140 | 1,269 |
Total gross amount | 3,355 | 3,089 |
Total net amount | 3,142 | 2,840 |
Carrying value | 3 | 12 |
Collateral received | 1,557 | 1,603 |
Bank | Performance guarantees and similar instruments | ||
Guarantees | ||
Maturity less than 1 year | 5,066 | 4,931 |
Maturity greater than 1 year | 1,971 | 2,212 |
Total gross amount | 7,037 | 7,143 |
Total net amount | 6,095 | 6,216 |
Carrying value | 47 | 44 |
Collateral received | 2,809 | 3,012 |
Bank | Derivatives | ||
Guarantees | ||
Maturity less than 1 year | 18,267 | 15,520 |
Maturity greater than 1 year | 6,219 | 8,984 |
Total gross amount | 24,486 | 24,504 |
Total net amount | 24,486 | 24,504 |
Carrying value | 445 | 403 |
Bank | Other guarantees | ||
Guarantees | ||
Maturity less than 1 year | 4,977 | 4,461 |
Maturity greater than 1 year | 2,097 | 2,217 |
Total gross amount | 7,074 | 6,678 |
Total net amount | 7,066 | 6,673 |
Carrying value | 54 | 47 |
Collateral received | SFr 4,255 | SFr 3,833 |
Guarantees and commitments - Ot
Guarantees and commitments - Other guarantees (Details 2) - CHF (SFr) SFr in Billions | 3 Months Ended | 12 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Guarantees | |||
Amount jointly guaranteed by deposit-taking banks and securities dealers in Switzerland | SFr 6 | ||
Group's share in amount jointly guaranteed by deposit-taking banks and securities dealers in Switzerland | SFr 0.5 | SFr 0.5 | |
Bank | |||
Guarantees | |||
Amount jointly guaranteed by deposit-taking banks and securities dealers in Switzerland | SFr 6 | ||
Group's share in amount jointly guaranteed by deposit-taking banks and securities dealers in Switzerland | SFr 0.5 | SFr 0.5 |
Guarantees and commitments -128
Guarantees and commitments - Other commitments maturity (Details 7) - CHF (SFr) SFr in Millions | Jun. 30, 2018 | Dec. 31, 2017 |
Other commitments | ||
Maturity less than 1 year | SFr 31,667 | SFr 29,503 |
Maturity greater than 1 year | 91,423 | 82,348 |
Total gross amount | 123,090 | 111,851 |
Total net amount | 117,460 | 106,629 |
Collateral received | 54,456 | 45,537 |
Unused revocable credit limits | 115,633 | 108,663 |
Irrevocable commitments under documentary credits | ||
Other commitments | ||
Maturity less than 1 year | 5,231 | 4,976 |
Maturity greater than 1 year | 390 | 115 |
Total gross amount | 5,621 | 5,091 |
Total net amount | 5,301 | 5,000 |
Collateral received | 3,499 | 3,218 |
Loan commitments | ||
Other commitments | ||
Maturity less than 1 year | 25,834 | 24,296 |
Maturity greater than 1 year | 90,804 | 82,105 |
Total gross amount | 116,638 | 106,401 |
Total net amount | 111,328 | 101,270 |
Collateral received | 50,786 | 42,307 |
Forward reverse repurchase agreements | ||
Other commitments | ||
Maturity less than 1 year | 170 | 12 |
Maturity greater than 1 year | 0 | 0 |
Total gross amount | 170 | 12 |
Total net amount | 170 | 12 |
Collateral received | 170 | 12 |
Other commitments | ||
Other commitments | ||
Maturity less than 1 year | 432 | 219 |
Maturity greater than 1 year | 229 | 128 |
Total gross amount | 661 | 347 |
Total net amount | 661 | 347 |
Collateral received | 1 | 0 |
Bank | ||
Other commitments | ||
Maturity less than 1 year | 31,666 | 29,503 |
Maturity greater than 1 year | 91,423 | 82,348 |
Total gross amount | 123,089 | 111,851 |
Total net amount | 117,459 | 106,629 |
Collateral received | 54,456 | 45,537 |
Bank | Irrevocable commitments under documentary credits | ||
Other commitments | ||
Maturity less than 1 year | 5,231 | 4,976 |
Maturity greater than 1 year | 390 | 115 |
Total gross amount | 5,621 | 5,091 |
Total net amount | 5,301 | 5,000 |
Collateral received | 3,499 | 3,218 |
Bank | Loan commitments | ||
Other commitments | ||
Maturity less than 1 year | 25,834 | 24,296 |
Maturity greater than 1 year | 90,804 | 82,105 |
Total gross amount | 116,638 | 106,401 |
Total net amount | 111,328 | 101,270 |
Collateral received | 50,786 | 42,307 |
Unused revocable credit limits | 115,635 | 108,665 |
Bank | Forward reverse repurchase agreements | ||
Other commitments | ||
Maturity less than 1 year | 170 | 12 |
Maturity greater than 1 year | 0 | 0 |
Total gross amount | 170 | 12 |
Total net amount | 170 | 12 |
Collateral received | 170 | 12 |
Bank | Other commitments | ||
Other commitments | ||
Maturity less than 1 year | 431 | 219 |
Maturity greater than 1 year | 229 | 128 |
Total gross amount | 660 | 347 |
Total net amount | 660 | 347 |
Collateral received | SFr 1 | SFr 0 |
Transfers of financial assets (
Transfers of financial assets (TFA) - Securitizations (Details) - CHF (SFr) SFr in Millions | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
CMBS | ||
Transfers of financial assets disclosures | ||
Net gain/(loss) | SFr 7 | SFr 34 |
Proceeds from transfer of assets | 3,568 | 2,917 |
Cash received on interests that continue to be held | 23 | 18 |
RMBS | ||
Transfers of financial assets disclosures | ||
Net gain/(loss) | (4) | 6 |
Proceeds from transfer of assets | 16,765 | 5,807 |
Purchases of previously transferred financial assets or their underlying collateral | (1) | (2) |
Servicing fees | 1 | 1 |
Cash received on interests that continue to be held | 406 | 146 |
Other asset-backed financings | ||
Transfers of financial assets disclosures | ||
Net gain/(loss) | 58 | 24 |
Proceeds from transfer of assets | 3,950 | 3,404 |
Purchases of previously transferred financial assets or their underlying collateral | (232) | (209) |
Servicing fees | 67 | 56 |
Cash received on interests that continue to be held | 1 | 1 |
Bank | CMBS | ||
Transfers of financial assets disclosures | ||
Net gain/(loss) | 7 | 34 |
Proceeds from transfer of assets | 3,568 | 2,917 |
Cash received on interests that continue to be held | 23 | 18 |
Bank | RMBS | ||
Transfers of financial assets disclosures | ||
Net gain/(loss) | (4) | 6 |
Proceeds from transfer of assets | 16,765 | 5,807 |
Purchases of previously transferred financial assets or their underlying collateral | (1) | (2) |
Servicing fees | 1 | 1 |
Cash received on interests that continue to be held | 406 | 146 |
Bank | Other asset-backed financings | ||
Transfers of financial assets disclosures | ||
Net gain/(loss) | 58 | 24 |
Proceeds from transfer of assets | 3,950 | 3,404 |
Purchases of previously transferred financial assets or their underlying collateral | (232) | (209) |
Servicing fees | 67 | 56 |
Cash received on interests that continue to be held | SFr 1 | SFr 1 |
TFA - Principal amounts outstan
TFA - Principal amounts outstanding / total assets - continuing involvement (Details 2) - CHF (SFr) SFr in Millions | Jun. 30, 2018 | Dec. 31, 2017 |
CMBS | ||
Principal amounts outstanding and total assets of SPEs resulting from continuing involvement | ||
Principal amount outstanding | SFr 23,938 | SFr 19,918 |
Total assets of SPE | 37,020 | 31,586 |
RMBS | ||
Principal amounts outstanding and total assets of SPEs resulting from continuing involvement | ||
Principal amount outstanding | 47,792 | 35,645 |
Total assets of SPE | 48,862 | 36,770 |
Other asset-backed financings | ||
Principal amounts outstanding and total assets of SPEs resulting from continuing involvement | ||
Principal amount outstanding | 24,176 | 20,916 |
Total assets of SPE | 45,550 | 39,330 |
Bank | CMBS | ||
Principal amounts outstanding and total assets of SPEs resulting from continuing involvement | ||
Principal amount outstanding | 23,938 | 19,918 |
Total assets of SPE | 37,020 | 31,586 |
Bank | RMBS | ||
Principal amounts outstanding and total assets of SPEs resulting from continuing involvement | ||
Principal amount outstanding | 47,792 | 35,645 |
Total assets of SPE | 48,862 | 36,770 |
Bank | Other asset-backed financings | ||
Principal amounts outstanding and total assets of SPEs resulting from continuing involvement | ||
Principal amount outstanding | 24,176 | 20,916 |
Total assets of SPE | SFr 45,550 | SFr 39,330 |
TFA - Key economic assumptions
TFA - Key economic assumptions at time of transfer (Details 3) - CHF (SFr) SFr in Millions | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Key economic assumptions used in measuring fair value at time of transfer | ||
Prepayment speed rate assumed used for projecting payments over the life of a residential mortgage loan (as a percent) | 100.00% | |
Prepayment rate per annum of the outstanding principal balance of mortgage loans in the first month assuming 100% prepayment (as a percent) | 0.20% | |
Prepayment rate per annum of the outstanding principal balance of mortgage loans after the first month assuming 100% prepayment (as a percent) | 0.20% | |
Constant prepayment rate assumed using a 100% prepayment assumption (as a percent) | 6.00% | |
CMBS | ||
Key economic assumptions used in measuring fair value at time of transfer | ||
Fair value of beneficial interests at time of transfer | SFr 463 | SFr 60 |
Weighted-average life, in years | 5 years 8 months 12 days | 7 years 8 months 11 days |
CMBS | Minimum | ||
Key economic assumptions used in measuring fair value at time of transfer | ||
Cash flow discount rate (rate per annum), in % (as a percent) | 3.60% | 2.90% |
Expected credit losses (rate per annum), in % (as a percent) | 1.80% | 0.00% |
CMBS | Maximum | ||
Key economic assumptions used in measuring fair value at time of transfer | ||
Cash flow discount rate (rate per annum), in % (as a percent) | 9.80% | 3.00% |
Expected credit losses (rate per annum), in % (as a percent) | 1.80% | 0.00% |
CMBS | Level 2 | ||
Key economic assumptions used in measuring fair value at time of transfer | ||
Fair value of beneficial interests at time of transfer | SFr 463 | SFr 60 |
CMBS | Level 3 | ||
Key economic assumptions used in measuring fair value at time of transfer | ||
Fair value of beneficial interests at time of transfer | 0 | 0 |
RMBS | ||
Key economic assumptions used in measuring fair value at time of transfer | ||
Fair value of beneficial interests at time of transfer | SFr 2,626 | SFr 637 |
Weighted-average life, in years | 7 years 7 months 6 days | 9 years 6 months 1 day |
RMBS | Minimum | ||
Key economic assumptions used in measuring fair value at time of transfer | ||
Prepayment speed assumption (rate per annum) in % (as a percent) | 5.50% | 6.70% |
Cash flow discount rate (rate per annum), in % (as a percent) | 3.00% | 2.30% |
Expected credit losses (rate per annum), in % (as a percent) | 2.80% | 3.20% |
RMBS | Maximum | ||
Key economic assumptions used in measuring fair value at time of transfer | ||
Prepayment speed assumption (rate per annum) in % (as a percent) | 13.50% | 16.80% |
Cash flow discount rate (rate per annum), in % (as a percent) | 13.20% | 11.70% |
Expected credit losses (rate per annum), in % (as a percent) | 5.50% | 3.70% |
RMBS | Level 2 | ||
Key economic assumptions used in measuring fair value at time of transfer | ||
Fair value of beneficial interests at time of transfer | SFr 2,542 | SFr 538 |
RMBS | Level 3 | ||
Key economic assumptions used in measuring fair value at time of transfer | ||
Fair value of beneficial interests at time of transfer | SFr 84 | 99 |
Bank | ||
Key economic assumptions used in measuring fair value at time of transfer | ||
Prepayment speed rate assumed used for projecting payments over the life of a residential mortgage loan (as a percent) | 100.00% | |
Prepayment rate per annum of the outstanding principal balance of mortgage loans in the first month assuming 100% prepayment (as a percent) | 0.20% | |
Prepayment rate per annum of the outstanding principal balance of mortgage loans after the first month assuming 100% prepayment (as a percent) | 0.20% | |
Constant prepayment rate assumed using a 100% prepayment assumption (as a percent) | 6.00% | |
Bank | CMBS | ||
Key economic assumptions used in measuring fair value at time of transfer | ||
Fair value of beneficial interests at time of transfer | SFr 463 | SFr 60 |
Weighted-average life, in years | 5 years 8 months 12 days | 7 years 8 months 11 days |
Bank | CMBS | Minimum | ||
Key economic assumptions used in measuring fair value at time of transfer | ||
Cash flow discount rate (rate per annum), in % (as a percent) | 3.60% | 2.90% |
Expected credit losses (rate per annum), in % (as a percent) | 1.80% | 0.00% |
Bank | CMBS | Maximum | ||
Key economic assumptions used in measuring fair value at time of transfer | ||
Cash flow discount rate (rate per annum), in % (as a percent) | 9.80% | 3.00% |
Expected credit losses (rate per annum), in % (as a percent) | 1.80% | 0.00% |
Bank | CMBS | Level 2 | ||
Key economic assumptions used in measuring fair value at time of transfer | ||
Fair value of beneficial interests at time of transfer | SFr 463 | SFr 60 |
Bank | CMBS | Level 3 | ||
Key economic assumptions used in measuring fair value at time of transfer | ||
Fair value of beneficial interests at time of transfer | 0 | 0 |
Bank | RMBS | ||
Key economic assumptions used in measuring fair value at time of transfer | ||
Fair value of beneficial interests at time of transfer | SFr 2,626 | SFr 637 |
Weighted-average life, in years | 7 years 7 months 6 days | 9 years 6 months 1 day |
Bank | RMBS | Minimum | ||
Key economic assumptions used in measuring fair value at time of transfer | ||
Prepayment speed assumption (rate per annum) in % (as a percent) | 5.50% | 6.70% |
Cash flow discount rate (rate per annum), in % (as a percent) | 3.00% | 2.30% |
Expected credit losses (rate per annum), in % (as a percent) | 2.80% | 3.20% |
Bank | RMBS | Maximum | ||
Key economic assumptions used in measuring fair value at time of transfer | ||
Prepayment speed assumption (rate per annum) in % (as a percent) | 13.50% | 16.80% |
Cash flow discount rate (rate per annum), in % (as a percent) | 13.20% | 11.70% |
Expected credit losses (rate per annum), in % (as a percent) | 5.50% | 3.70% |
Bank | RMBS | Level 2 | ||
Key economic assumptions used in measuring fair value at time of transfer | ||
Fair value of beneficial interests at time of transfer | SFr 2,542 | SFr 538 |
Bank | RMBS | Level 3 | ||
Key economic assumptions used in measuring fair value at time of transfer | ||
Fair value of beneficial interests at time of transfer | SFr 84 | SFr 99 |
TFA - Key economic assumptio132
TFA - Key economic assumptions at balance sheet date (Details 4) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Dec. 31, 2017 | Jun. 30, 2018 | Dec. 31, 2017 | |
CMBS | ||||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | ||||
Fair value of beneficial interests held in SPEs | SFr 709 | SFr 579 | SFr 709 | SFr 579 |
Weighted-average life, in years | 5 years 4 months 26 days | 4 years 8 months 12 days | ||
Impact on fair value from 10% adverse change in cash flow discount rate | SFr (13.9) | SFr (8.8) | (13.9) | (8.8) |
Impact on fair value from 20% adverse change in cash flow discount rate | (27.3) | (17) | (27.3) | (17) |
Impact on fair value from 10% adverse change in expected credit losses | (5) | (3.9) | (5) | (3.9) |
Impact on fair value from 20% adverse change in expected credit losses | SFr (10) | SFr (7.8) | (10) | (7.8) |
CMBS | Minimum | ||||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | ||||
Cash flow discount rate per annum, in % (as a percent) | 3.10% | 2.70% | ||
Expected credit losses rate (rate per annum), in % (as a percent) | 0.50% | 0.60% | ||
CMBS | Maximum | ||||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | ||||
Cash flow discount rate per annum, in % (as a percent) | 12.60% | 12.30% | ||
Expected credit losses rate (rate per annum), in % (as a percent) | 9.70% | 6.30% | ||
CMBS | Non-investment grade | ||||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | ||||
Fair value of beneficial interests held in SPEs | SFr 90 | SFr 100 | 90 | 100 |
RMBS | ||||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | ||||
Fair value of beneficial interests held in SPEs | SFr 2,748 | SFr 1,985 | 2,748 | 1,985 |
Weighted-average life, in years | 8 years 1 month 5 days | 8 years 1 month 5 days | ||
Impact on fair value from 10% adverse change in prepayment speed | SFr (29.2) | SFr (35) | (29.2) | (35) |
Impact on fair value from 20% adverse change in prepayment speed | (56.4) | (68.1) | (56.4) | (68.1) |
Impact on fair value from 10% adverse change in cash flow discount rate | (60.8) | (49.2) | (60.8) | (49.2) |
Impact on fair value from 20% adverse change in cash flow discount rate | (118.3) | (95.3) | (118.3) | (95.3) |
Impact on fair value from 10% adverse change in expected credit losses | (25.3) | (23.6) | (25.3) | (23.6) |
Impact on fair value from 20% adverse change in expected credit losses | SFr (49.4) | SFr (46.1) | (49.4) | (46.1) |
RMBS | Minimum | ||||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | ||||
Prepayment speed assumption (rate per annum), in % (as a percent) | 1.00% | 1.00% | ||
Cash flow discount rate per annum, in % (as a percent) | 2.90% | 1.90% | ||
Expected credit losses rate (rate per annum), in % (as a percent) | 0.90% | 0.50% | ||
RMBS | Maximum | ||||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | ||||
Prepayment speed assumption (rate per annum), in % (as a percent) | 20.00% | 25.00% | ||
Cash flow discount rate per annum, in % (as a percent) | 29.40% | 30.60% | ||
Expected credit losses rate (rate per annum), in % (as a percent) | 26.60% | 28.20% | ||
RMBS | Non-investment grade | ||||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | ||||
Fair value of beneficial interests held in SPEs | SFr 709 | SFr 508 | 709 | 508 |
Other asset-backed financings | ||||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | ||||
Fair value of beneficial interests held in SPEs | SFr 159 | SFr 665 | 159 | 665 |
Weighted-average life, in years | 5 years 9 months 19 days | 6 years 4 months 26 days | ||
Impact on fair value from 10% adverse change in cash flow discount rate | SFr (1.8) | SFr (12.4) | (1.8) | (12.4) |
Impact on fair value from 20% adverse change in cash flow discount rate | (3.5) | (24.5) | (3.5) | (24.5) |
Impact on fair value from 10% adverse change in expected credit losses | (1.5) | (6.6) | (1.5) | (6.6) |
Impact on fair value from 20% adverse change in expected credit losses | SFr (2.9) | SFr (12.9) | (2.9) | (12.9) |
Other asset-backed financings | Minimum | ||||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | ||||
Cash flow discount rate per annum, in % (as a percent) | 0.90% | 1.00% | ||
Expected credit losses rate (rate per annum), in % (as a percent) | 0.70% | 0.70% | ||
Other asset-backed financings | Maximum | ||||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | ||||
Cash flow discount rate per annum, in % (as a percent) | 21.20% | 21.20% | ||
Expected credit losses rate (rate per annum), in % (as a percent) | 21.20% | 21.20% | ||
Other asset-backed financings | Non-investment grade | ||||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | ||||
Fair value of beneficial interests held in SPEs | SFr 9 | SFr 50 | 9 | 50 |
Bank | CMBS | ||||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | ||||
Fair value of beneficial interests held in SPEs | 709 | 579 | SFr 709 | SFr 579 |
Weighted-average life, in years | 5 years 4 months 26 days | 4 years 8 months 12 days | ||
Impact on fair value from 10% adverse change in cash flow discount rate | (13.9) | (8.8) | SFr (13.9) | SFr (8.8) |
Impact on fair value from 20% adverse change in cash flow discount rate | (27.3) | (17) | (27.3) | (17) |
Impact on fair value from 10% adverse change in expected credit losses | (5) | (3.9) | (5) | (3.9) |
Impact on fair value from 20% adverse change in expected credit losses | (10) | (7.8) | SFr (10) | SFr (7.8) |
Bank | CMBS | Minimum | ||||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | ||||
Cash flow discount rate per annum, in % (as a percent) | 3.10% | 2.70% | ||
Expected credit losses rate (rate per annum), in % (as a percent) | 0.50% | 0.60% | ||
Bank | CMBS | Maximum | ||||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | ||||
Cash flow discount rate per annum, in % (as a percent) | 12.60% | 12.30% | ||
Expected credit losses rate (rate per annum), in % (as a percent) | 9.70% | 6.30% | ||
Bank | CMBS | Non-investment grade | ||||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | ||||
Fair value of beneficial interests held in SPEs | 90 | 100 | SFr 90 | SFr 100 |
Bank | RMBS | ||||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | ||||
Fair value of beneficial interests held in SPEs | 2,748 | 1,985 | SFr 2,748 | SFr 1,985 |
Weighted-average life, in years | 8 years 1 month 5 days | 8 years 1 month 5 days | ||
Impact on fair value from 10% adverse change in prepayment speed | (29.2) | (35) | SFr (29.2) | SFr (35) |
Impact on fair value from 20% adverse change in prepayment speed | (56.4) | (68.1) | (56.4) | (68.1) |
Impact on fair value from 10% adverse change in cash flow discount rate | (60.8) | (49.2) | (60.8) | (49.2) |
Impact on fair value from 20% adverse change in cash flow discount rate | (118.3) | (95.3) | (118.3) | (95.3) |
Impact on fair value from 10% adverse change in expected credit losses | (25.3) | (23.6) | (25.3) | (23.6) |
Impact on fair value from 20% adverse change in expected credit losses | (49.4) | (46.1) | SFr (49.4) | SFr (46.1) |
Bank | RMBS | Minimum | ||||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | ||||
Prepayment speed assumption (rate per annum), in % (as a percent) | 1.00% | 1.00% | ||
Cash flow discount rate per annum, in % (as a percent) | 2.90% | 1.90% | ||
Expected credit losses rate (rate per annum), in % (as a percent) | 0.90% | 0.50% | ||
Bank | RMBS | Maximum | ||||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | ||||
Prepayment speed assumption (rate per annum), in % (as a percent) | 20.00% | 25.00% | ||
Cash flow discount rate per annum, in % (as a percent) | 29.40% | 30.60% | ||
Expected credit losses rate (rate per annum), in % (as a percent) | 26.60% | 28.20% | ||
Bank | RMBS | Non-investment grade | ||||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | ||||
Fair value of beneficial interests held in SPEs | 709 | 508 | SFr 709 | SFr 508 |
Bank | Other asset-backed financings | ||||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | ||||
Fair value of beneficial interests held in SPEs | 159 | 665 | SFr 159 | SFr 665 |
Weighted-average life, in years | 5 years 9 months 19 days | 6 years 4 months 26 days | ||
Impact on fair value from 10% adverse change in cash flow discount rate | (1.8) | (12.4) | SFr (1.8) | SFr (12.4) |
Impact on fair value from 20% adverse change in cash flow discount rate | (3.5) | (24.5) | (3.5) | (24.5) |
Impact on fair value from 10% adverse change in expected credit losses | (1.5) | (6.6) | (1.5) | (6.6) |
Impact on fair value from 20% adverse change in expected credit losses | (2.9) | (12.9) | SFr (2.9) | SFr (12.9) |
Bank | Other asset-backed financings | Minimum | ||||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | ||||
Cash flow discount rate per annum, in % (as a percent) | 0.90% | 1.00% | ||
Expected credit losses rate (rate per annum), in % (as a percent) | 0.70% | 0.70% | ||
Bank | Other asset-backed financings | Maximum | ||||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | ||||
Cash flow discount rate per annum, in % (as a percent) | 21.20% | 21.20% | ||
Expected credit losses rate (rate per annum), in % (as a percent) | 21.20% | 21.20% | ||
Bank | Other asset-backed financings | Non-investment grade | ||||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | ||||
Fair value of beneficial interests held in SPEs | SFr 9 | SFr 50 | SFr 9 | SFr 50 |
TFA - Carrying amounts for sale
TFA - Carrying amounts for sale treatmen not achieved (Details 5) - Other asset-backed financings - CHF (SFr) SFr in Millions | Jun. 30, 2018 | Dec. 31, 2017 |
Trading assets | ||
Carrying amounts of transferred financial assets and liabilities where sale treatment not achieved | ||
Assets, transfer of financial interest, sale treatment not achieved | SFr 213 | SFr 347 |
Other assets | ||
Carrying amounts of transferred financial assets and liabilities where sale treatment not achieved | ||
Assets, transfer of financial interest, sale treatment not achieved | 0 | 48 |
Other liabilities | ||
Carrying amounts of transferred financial assets and liabilities where sale treatment not achieved | ||
Liability to SPE, transfer of financial interest, sale treatment not achieved | (213) | (395) |
Bank | Trading assets | ||
Carrying amounts of transferred financial assets and liabilities where sale treatment not achieved | ||
Assets, transfer of financial interest, sale treatment not achieved | 213 | 347 |
Bank | Other assets | ||
Carrying amounts of transferred financial assets and liabilities where sale treatment not achieved | ||
Assets, transfer of financial interest, sale treatment not achieved | 0 | 48 |
Bank | Other liabilities | ||
Carrying amounts of transferred financial assets and liabilities where sale treatment not achieved | ||
Liability to SPE, transfer of financial interest, sale treatment not achieved | SFr (213) | SFr (395) |
TFA - Transfer of certain finan
TFA - Transfer of certain financial assets accounted for as secured borrowings (Details 7) - CHF (SFr) SFr in Millions | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 |
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | SFr 39,600 | SFr 52,100 | |
Securities lending transactions | 7,300 | 8,200 | |
Obligation to return securities received as collateral, at fair value | 45,522 | SFr 41,227 | 38,074 |
Total | 92,400 | 98,400 | |
Corporate debt securities | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 12,300 | 15,100 | |
Securities lending transactions | 400 | 400 | |
Obligation to return securities received as collateral, at fair value | 600 | 600 | |
Asset-backed securities | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 2,800 | 5,000 | |
Obligation to return securities received as collateral, at fair value | 100 | 0 | |
Equity securities | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities lending transactions | 4,000 | 4,800 | |
Obligation to return securities received as collateral, at fair value | 43,500 | 35,600 | |
Other | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 200 | 600 | |
Securities lending transactions | 300 | 300 | |
Obligation to return securities received as collateral, at fair value | 0 | 100 | |
Government debt securities | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 24,300 | 31,400 | |
Securities lending transactions | 2,600 | 2,700 | |
Obligation to return securities received as collateral, at fair value | 1,300 | 1,800 | |
Maturity on Demand [Member] | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 7,600 | 7,200 | |
Securities lending transactions | 4,700 | 5,700 | |
Obligation to return securities received as collateral, at fair value | 45,300 | 37,900 | |
Total | 57,600 | 50,800 | |
Maturity Less than 30 Days [Member] | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 21,900 | 32,500 | |
Securities lending transactions | 2,400 | 2,200 | |
Obligation to return securities received as collateral, at fair value | 0 | 0 | |
Total | 24,300 | 34,700 | |
Maturity 30 to 90 Days [Member] | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 5,400 | 5,200 | |
Securities lending transactions | 200 | 0 | |
Obligation to return securities received as collateral, at fair value | 200 | 0 | |
Total | 5,800 | 5,200 | |
Maturity Greater than 90 Days [Member] | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 4,700 | 7,200 | |
Securities lending transactions | 0 | 300 | |
Obligation to return securities received as collateral, at fair value | 0 | 200 | |
Total | 4,700 | 7,700 | |
Bank | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 39,600 | 52,100 | |
Securities lending transactions | 7,300 | 8,200 | |
Obligation to return securities received as collateral, at fair value | 45,522 | 38,074 | |
Total | 92,400 | 98,400 | |
Bank | Corporate debt securities | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 12,300 | 15,100 | |
Securities lending transactions | 400 | 400 | |
Obligation to return securities received as collateral, at fair value | 600 | 600 | |
Bank | Asset-backed securities | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 2,800 | 5,000 | |
Obligation to return securities received as collateral, at fair value | 100 | 0 | |
Bank | Equity securities | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities lending transactions | 4,000 | 4,800 | |
Obligation to return securities received as collateral, at fair value | 43,500 | 35,600 | |
Bank | Other | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 200 | 600 | |
Securities lending transactions | 300 | 300 | |
Obligation to return securities received as collateral, at fair value | 0 | 100 | |
Bank | Government debt securities | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 24,300 | 31,400 | |
Securities lending transactions | 2,600 | 2,700 | |
Obligation to return securities received as collateral, at fair value | 1,300 | 1,800 | |
Bank | Maturity on Demand [Member] | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 7,600 | 7,200 | |
Securities lending transactions | 4,700 | 5,700 | |
Obligation to return securities received as collateral, at fair value | 45,300 | 37,900 | |
Total | 57,600 | 50,800 | |
Bank | Maturity Less than 30 Days [Member] | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 21,900 | 32,500 | |
Securities lending transactions | 2,400 | 2,200 | |
Obligation to return securities received as collateral, at fair value | 0 | 0 | |
Total | 24,300 | 34,700 | |
Bank | Maturity 30 to 90 Days [Member] | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 5,400 | 5,200 | |
Securities lending transactions | 200 | 0 | |
Obligation to return securities received as collateral, at fair value | 200 | 0 | |
Total | 5,800 | 5,200 | |
Bank | Maturity Greater than 90 Days [Member] | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 4,700 | 7,200 | |
Securities lending transactions | 0 | 300 | |
Obligation to return securities received as collateral, at fair value | 0 | 200 | |
Total | SFr 4,700 | SFr 7,700 |
Variable interest entities (VIE
Variable interest entities (VIE) - Consolidated (Details 8) SFr in Millions | Jun. 30, 2018CHF (SFr)day | Mar. 31, 2018CHF (SFr) | Dec. 31, 2017CHF (SFr) | Jun. 30, 2017CHF (SFr) | Dec. 31, 2016CHF (SFr) |
Consolidated VIEs in which the Group was the primary beneficiary | |||||
Cash and due from banks | SFr 112,513 | SFr 118,164 | SFr 109,815 | SFr 110,332 | SFr 121,161 |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 117,617 | 121,170 | 115,346 | ||
Trading assets | 135,586 | 140,201 | 156,334 | ||
Investment securities | 2,331 | 2,146 | 2,191 | ||
Other investments | 5,626 | 5,487 | 5,964 | ||
Net loans | 287,660 | 283,854 | 279,149 | ||
Premises and equipment | 4,831 | 4,677 | 4,686 | ||
Other assets | 35,309 | 33,778 | 32,071 | ||
of which loans held-for-sale | 7,980 | 8,724 | 8,130 | ||
Customer deposits | 367,408 | 368,382 | 361,162 | ||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 19,886 | 27,579 | 26,496 | ||
Trading liabilities | 42,776 | 44,755 | 39,119 | ||
Short-term borrowings | 30,573 | 31,872 | 25,889 | ||
Long-term debt | 165,961 | 166,166 | 173,032 | ||
Other liabilities | SFr 30,514 | 29,678 | 31,612 | ||
CP Conduit | |||||
VIE Disclosures | |||||
Average maturity of CP (in days) | day | 130 | ||||
Consolidated VIEs | |||||
Consolidated VIEs in which the Group was the primary beneficiary | |||||
Cash and due from banks | SFr 240 | 191 | 232 | ||
Trading assets | 1,252 | 1,308 | 1,348 | ||
Investment securities | 679 | 586 | 381 | ||
Other investments | 1,610 | 1,584 | 1,833 | ||
Net loans | 299 | 257 | 267 | ||
Premises and equipment | 126 | 124 | 151 | ||
Other assets | 2,039 | 2,022 | 2,398 | ||
of which loans held-for-sale | 517 | 238 | |||
Total assets of consolidated VIEs | 6,245 | 6,610 | |||
Trading liabilities | 3 | 3 | 3 | ||
Long-term debt | 1,072 | 994 | 863 | ||
Other liabilities | 220 | SFr 209 | 204 | ||
Total liabilities of consolidated VIEs | 1,295 | 1,070 | |||
Consolidated VIEs | Collateralized debt obligations | |||||
Consolidated VIEs in which the Group was the primary beneficiary | |||||
Cash and due from banks | 34 | 22 | |||
Trading assets | 56 | 17 | |||
Investment securities | 0 | 0 | |||
Other investments | 0 | 0 | |||
Net loans | 0 | 0 | |||
Premises and equipment | 0 | 0 | |||
Other assets | 371 | 83 | |||
of which loans held-for-sale | 370 | 83 | |||
Total assets of consolidated VIEs | 461 | 122 | |||
Trading liabilities | 1 | 0 | |||
Long-term debt | 173 | 51 | |||
Other liabilities | 1 | 0 | |||
Total liabilities of consolidated VIEs | 175 | 51 | |||
Consolidated VIEs | CP Conduit | |||||
Consolidated VIEs in which the Group was the primary beneficiary | |||||
Cash and due from banks | 0 | 0 | |||
Trading assets | 0 | 0 | |||
Investment securities | 0 | 0 | |||
Other investments | 0 | 0 | |||
Net loans | 0 | 0 | |||
Premises and equipment | 0 | 0 | |||
Other assets | 10 | 4 | |||
of which loans held-for-sale | 0 | 0 | |||
Total assets of consolidated VIEs | 10 | 4 | |||
Trading liabilities | 0 | 0 | |||
Long-term debt | 0 | 0 | |||
Other liabilities | 0 | 0 | |||
Total liabilities of consolidated VIEs | 0 | 0 | |||
Consolidated VIEs | Financial intermediation - Securitizations | |||||
Consolidated VIEs in which the Group was the primary beneficiary | |||||
Cash and due from banks | 75 | 96 | |||
Trading assets | 106 | 10 | |||
Investment securities | 679 | 381 | |||
Other investments | 0 | 0 | |||
Net loans | 32 | 0 | |||
Premises and equipment | 0 | 0 | |||
Other assets | 925 | 1,070 | |||
of which loans held-for-sale | 144 | 152 | |||
Total assets of consolidated VIEs | 1,817 | 1,557 | |||
Trading liabilities | 0 | 0 | |||
Long-term debt | 838 | 752 | |||
Other liabilities | 1 | 1 | |||
Total liabilities of consolidated VIEs | 839 | 753 | |||
Consolidated VIEs | Financial intermediation - Funds | |||||
Consolidated VIEs in which the Group was the primary beneficiary | |||||
Cash and due from banks | 68 | 32 | |||
Trading assets | 147 | 179 | |||
Investment securities | 0 | 0 | |||
Other investments | 199 | 350 | |||
Net loans | 0 | 3 | |||
Premises and equipment | 0 | 0 | |||
Other assets | 12 | 21 | |||
of which loans held-for-sale | 0 | 0 | |||
Total assets of consolidated VIEs | 426 | 585 | |||
Trading liabilities | 0 | 0 | |||
Long-term debt | 0 | 0 | |||
Other liabilities | 8 | 26 | |||
Total liabilities of consolidated VIEs | 8 | 26 | |||
Consolidated VIEs | Financial intermediation - Loans | |||||
Consolidated VIEs in which the Group was the primary beneficiary | |||||
Cash and due from banks | 53 | 70 | |||
Trading assets | 929 | 1,122 | |||
Investment securities | 0 | 0 | |||
Other investments | 1,127 | 1,197 | |||
Net loans | 20 | 21 | |||
Premises and equipment | 126 | 151 | |||
Other assets | 46 | 32 | |||
of which loans held-for-sale | 3 | 3 | |||
Total assets of consolidated VIEs | 2,301 | 2,593 | |||
Trading liabilities | 2 | 3 | |||
Long-term debt | 26 | 26 | |||
Other liabilities | 110 | 111 | |||
Total liabilities of consolidated VIEs | 138 | 140 | |||
Consolidated VIEs | Financial intermediation - Other | |||||
Consolidated VIEs in which the Group was the primary beneficiary | |||||
Cash and due from banks | 10 | 12 | |||
Trading assets | 14 | 20 | |||
Investment securities | 0 | 0 | |||
Other investments | 284 | 286 | |||
Net loans | 247 | 243 | |||
Premises and equipment | 0 | 0 | |||
Other assets | 675 | 1,188 | |||
of which loans held-for-sale | 0 | 0 | |||
Total assets of consolidated VIEs | 1,230 | 1,749 | |||
Trading liabilities | 0 | 0 | |||
Long-term debt | 35 | 34 | |||
Other liabilities | 100 | 66 | |||
Total liabilities of consolidated VIEs | 135 | 100 | |||
Bank | |||||
Consolidated VIEs in which the Group was the primary beneficiary | |||||
Cash and due from banks | 111,636 | 109,510 | SFr 110,166 | SFr 121,066 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 117,617 | 115,346 | |||
Trading assets | 135,787 | 156,774 | |||
Investment securities | 2,329 | 2,189 | |||
Other investments | 5,554 | 5,893 | |||
Net loans | 293,178 | 283,237 | |||
Premises and equipment | 4,532 | 4,445 | |||
Other assets | 34,027 | 30,956 | |||
of which loans held-for-sale | 7,980 | 8,130 | |||
Customer deposits | 368,839 | 362,303 | |||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 19,886 | 26,496 | |||
Trading liabilities | 42,779 | 39,132 | |||
Short-term borrowings | 31,070 | 26,378 | |||
Long-term debt | 165,110 | 172,042 | |||
Other liabilities | SFr 30,438 | 31,683 | |||
Bank | CP Conduit | |||||
VIE Disclosures | |||||
Average maturity of CP (in days) | day | 130 | ||||
Bank | Consolidated VIEs | |||||
Consolidated VIEs in which the Group was the primary beneficiary | |||||
Cash and due from banks | SFr 240 | 232 | |||
Trading assets | 1,252 | 1,348 | |||
Investment securities | 679 | 381 | |||
Other investments | 1,610 | 1,833 | |||
Net loans | 299 | 267 | |||
Premises and equipment | 104 | 128 | |||
Other assets | 2,037 | 2,396 | |||
of which loans held-for-sale | 517 | 238 | |||
Total assets of consolidated VIEs | 6,221 | 6,585 | |||
Trading liabilities | 3 | 3 | |||
Long-term debt | 1,072 | 863 | |||
Other liabilities | 219 | 204 | |||
Total liabilities of consolidated VIEs | 1,294 | 1,070 | |||
Bank | Consolidated VIEs | Collateralized debt obligations | |||||
Consolidated VIEs in which the Group was the primary beneficiary | |||||
Cash and due from banks | 34 | 22 | |||
Trading assets | 56 | 17 | |||
Investment securities | 0 | 0 | |||
Other investments | 0 | 0 | |||
Net loans | 0 | 0 | |||
Premises and equipment | 0 | 0 | |||
Other assets | 371 | 83 | |||
of which loans held-for-sale | 370 | 83 | |||
Total assets of consolidated VIEs | 461 | 122 | |||
Trading liabilities | 1 | 0 | |||
Long-term debt | 173 | 51 | |||
Other liabilities | 1 | 0 | |||
Total liabilities of consolidated VIEs | 175 | 51 | |||
Bank | Consolidated VIEs | CP Conduit | |||||
Consolidated VIEs in which the Group was the primary beneficiary | |||||
Cash and due from banks | 0 | 0 | |||
Trading assets | 0 | 0 | |||
Investment securities | 0 | 0 | |||
Other investments | 0 | 0 | |||
Net loans | 0 | 0 | |||
Premises and equipment | 0 | 0 | |||
Other assets | 10 | 4 | |||
of which loans held-for-sale | 0 | 0 | |||
Total assets of consolidated VIEs | 10 | 4 | |||
Trading liabilities | 0 | 0 | |||
Long-term debt | 0 | 0 | |||
Other liabilities | 0 | 0 | |||
Total liabilities of consolidated VIEs | 0 | 0 | |||
Bank | Consolidated VIEs | Financial intermediation - Securitizations | |||||
Consolidated VIEs in which the Group was the primary beneficiary | |||||
Cash and due from banks | 75 | 96 | |||
Trading assets | 106 | 10 | |||
Investment securities | 679 | 381 | |||
Other investments | 0 | 0 | |||
Net loans | 32 | 0 | |||
Premises and equipment | 0 | 0 | |||
Other assets | 925 | 1,070 | |||
of which loans held-for-sale | 144 | 152 | |||
Total assets of consolidated VIEs | 1,817 | 1,557 | |||
Trading liabilities | 0 | 0 | |||
Long-term debt | 838 | 752 | |||
Other liabilities | 1 | 1 | |||
Total liabilities of consolidated VIEs | 839 | 753 | |||
Bank | Consolidated VIEs | Financial intermediation - Funds | |||||
Consolidated VIEs in which the Group was the primary beneficiary | |||||
Cash and due from banks | 68 | 32 | |||
Trading assets | 147 | 179 | |||
Investment securities | 0 | 0 | |||
Other investments | 199 | 350 | |||
Net loans | 0 | 3 | |||
Premises and equipment | 0 | 0 | |||
Other assets | 12 | 21 | |||
of which loans held-for-sale | 0 | 0 | |||
Total assets of consolidated VIEs | 426 | 585 | |||
Trading liabilities | 0 | 0 | |||
Long-term debt | 0 | 0 | |||
Other liabilities | 8 | 26 | |||
Total liabilities of consolidated VIEs | 8 | 26 | |||
Bank | Consolidated VIEs | Financial intermediation - Loans | |||||
Consolidated VIEs in which the Group was the primary beneficiary | |||||
Cash and due from banks | 53 | 70 | |||
Trading assets | 929 | 1,122 | |||
Investment securities | 0 | 0 | |||
Other investments | 1,127 | 1,197 | |||
Net loans | 20 | 21 | |||
Premises and equipment | 104 | 128 | |||
Other assets | 45 | 31 | |||
of which loans held-for-sale | 3 | 3 | |||
Total assets of consolidated VIEs | 2,278 | 2,569 | |||
Trading liabilities | 2 | 3 | |||
Long-term debt | 26 | 26 | |||
Other liabilities | 109 | 111 | |||
Total liabilities of consolidated VIEs | 137 | 140 | |||
Bank | Consolidated VIEs | Financial intermediation - Other | |||||
Consolidated VIEs in which the Group was the primary beneficiary | |||||
Cash and due from banks | 10 | 12 | |||
Trading assets | 14 | 20 | |||
Investment securities | 0 | 0 | |||
Other investments | 284 | 286 | |||
Net loans | 247 | 243 | |||
Premises and equipment | 0 | 0 | |||
Other assets | 674 | 1,187 | |||
of which loans held-for-sale | 0 | 0 | |||
Total assets of consolidated VIEs | 1,229 | 1,748 | |||
Trading liabilities | 0 | 0 | |||
Long-term debt | 35 | 34 | |||
Other liabilities | 100 | 66 | |||
Total liabilities of consolidated VIEs | SFr 135 | SFr 100 |
VIE - Non-consolidated (Details
VIE - Non-consolidated (Details 9) - CHF (SFr) SFr in Millions | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 |
Non-consolidated VIEs | |||
Trading assets | SFr 135,586 | SFr 140,201 | SFr 156,334 |
Net loans | 287,660 | 283,854 | 279,149 |
Other assets | 35,309 | 33,778 | 32,071 |
Other liabilities | 30,514 | SFr 29,678 | 31,612 |
Non-consolidated VIEs | |||
Non-consolidated VIEs | |||
Trading assets | 9,934 | 8,945 | |
Net loans | 8,930 | 9,540 | |
Other assets | 586 | 525 | |
Total variable interest assets, non-consolidated VIEs | 19,450 | 19,010 | |
Maximum exposure to loss | 24,974 | 23,658 | |
Non-consolidated VIE assets | 243,069 | 198,884 | |
Non-consolidated VIEs | Collateralized debt obligations | |||
Non-consolidated VIEs | |||
Trading assets | 159 | 746 | |
Net loans | 312 | 620 | |
Other assets | 5 | 9 | |
Total variable interest assets, non-consolidated VIEs | 476 | 1,375 | |
Maximum exposure to loss | 476 | 1,375 | |
Non-consolidated VIE assets | 6,517 | 15,874 | |
Non-consolidated VIEs | Financial intermediation - Securitizations | |||
Non-consolidated VIEs | |||
Trading assets | 5,829 | 4,573 | |
Net loans | 1,375 | 1,563 | |
Other assets | 12 | 11 | |
Total variable interest assets, non-consolidated VIEs | 7,216 | 6,147 | |
Maximum exposure to loss | 8,880 | 7,617 | |
Non-consolidated VIE assets | 83,744 | 64,839 | |
Non-consolidated VIEs | Financial intermediation - Funds | |||
Non-consolidated VIEs | |||
Trading assets | 900 | 1,014 | |
Net loans | 2,111 | 2,438 | |
Other assets | 111 | 67 | |
Total variable interest assets, non-consolidated VIEs | 3,122 | 3,519 | |
Maximum exposure to loss | 3,122 | 3,526 | |
Non-consolidated VIE assets | 92,329 | 66,703 | |
Non-consolidated VIEs | Financial intermediation - Loans | |||
Non-consolidated VIEs | |||
Trading assets | 207 | 224 | |
Net loans | 4,040 | 4,591 | |
Other assets | 0 | 1 | |
Total variable interest assets, non-consolidated VIEs | 4,247 | 4,816 | |
Maximum exposure to loss | 7,293 | 7,061 | |
Non-consolidated VIE assets | 18,825 | 16,270 | |
Non-consolidated VIEs | Financial intermediation - Other | |||
Non-consolidated VIEs | |||
Trading assets | 2,839 | 2,388 | |
Net loans | 1,092 | 328 | |
Other assets | 458 | 437 | |
Total variable interest assets, non-consolidated VIEs | 4,389 | 3,153 | |
Maximum exposure to loss | 5,203 | 4,079 | |
Non-consolidated VIE assets | 41,654 | 35,198 | |
Bank | |||
Non-consolidated VIEs | |||
Trading assets | 135,787 | 156,774 | |
Net loans | 293,178 | 283,237 | |
Other assets | 34,027 | 30,956 | |
Other liabilities | 30,438 | 31,683 | |
Bank | Non-consolidated VIEs | |||
Non-consolidated VIEs | |||
Trading assets | 9,934 | 8,945 | |
Net loans | 8,930 | 9,540 | |
Other assets | 575 | 513 | |
Total variable interest assets, non-consolidated VIEs | 19,439 | 18,998 | |
Maximum exposure to loss | 24,963 | 23,646 | |
Non-consolidated VIE assets | 211,190 | 166,752 | |
Bank | Non-consolidated VIEs | Collateralized debt obligations | |||
Non-consolidated VIEs | |||
Trading assets | 159 | 746 | |
Net loans | 312 | 620 | |
Other assets | 5 | 9 | |
Total variable interest assets, non-consolidated VIEs | 476 | 1,375 | |
Maximum exposure to loss | 476 | 1,375 | |
Non-consolidated VIE assets | 6,517 | 15,874 | |
Bank | Non-consolidated VIEs | Financial intermediation - Securitizations | |||
Non-consolidated VIEs | |||
Trading assets | 5,829 | 4,573 | |
Net loans | 1,375 | 1,563 | |
Other assets | 12 | 11 | |
Total variable interest assets, non-consolidated VIEs | 7,216 | 6,147 | |
Maximum exposure to loss | 8,880 | 7,617 | |
Non-consolidated VIE assets | 83,744 | 64,839 | |
Bank | Non-consolidated VIEs | Financial intermediation - Funds | |||
Non-consolidated VIEs | |||
Trading assets | 900 | 1,014 | |
Net loans | 2,111 | 2,438 | |
Other assets | 100 | 55 | |
Total variable interest assets, non-consolidated VIEs | 3,111 | 3,507 | |
Maximum exposure to loss | 3,111 | 3,514 | |
Non-consolidated VIE assets | 89,367 | 63,504 | |
Bank | Non-consolidated VIEs | Financial intermediation - Loans | |||
Non-consolidated VIEs | |||
Trading assets | 207 | 224 | |
Net loans | 4,040 | 4,591 | |
Other assets | 0 | 1 | |
Total variable interest assets, non-consolidated VIEs | 4,247 | 4,816 | |
Maximum exposure to loss | 7,293 | 7,061 | |
Non-consolidated VIE assets | 18,825 | 16,270 | |
Bank | Non-consolidated VIEs | Financial intermediation - Other | |||
Non-consolidated VIEs | |||
Trading assets | 2,839 | 2,388 | |
Net loans | 1,092 | 328 | |
Other assets | 458 | 437 | |
Total variable interest assets, non-consolidated VIEs | 4,389 | 3,153 | |
Maximum exposure to loss | 5,203 | 4,079 | |
Non-consolidated VIE assets | SFr 12,737 | SFr 6,265 |
Financial instruments (FI) - As
Financial instruments (FI) - Assets measured at fair value on recurring basis (Details 2) - CHF (SFr) SFr in Millions | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 |
Assets | |||
Cash and Due from Banks | SFr 185 | SFr 93 | SFr 212 |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 75,706 | 85,086 | 77,498 |
Securities received as collateral | 45,522 | 41,227 | 38,074 |
Trading assets | 135,586 | 140,201 | 156,334 |
Investment securities | 2,331 | 2,146 | 2,191 |
Other investments | 3,139 | 3,112 | 3,506 |
Loans | 15,711 | 14,717 | 15,307 |
Other intangible assets (mortgage servicing rights), at fair value | 151 | 150 | 158 |
Other assets | 9,743 | SFr 9,931 | 9,018 |
Netting impact | (124,200) | (128,800) | |
Total assets at fair value, measured at net asset value per share | 2,720 | 2,908 | |
Recurring basis | |||
Assets | |||
Cash and Due from Banks | 185 | 212 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 75,706 | 77,498 | |
Securities received as collateral | 45,522 | 38,074 | |
Trading assets | 135,586 | 156,334 | |
Trading assets, measured at net asset value per share | 1,038 | 1,053 | |
Investment securities | 2,331 | 2,191 | |
Other investments | 3,139 | 3,506 | |
Other investments, measured at net asset value per share | 1,684 | 1,864 | |
Loans | 15,711 | 15,307 | |
Loans - of which commercial and industrial | 5,999 | 5,644 | |
Loans - of which financial institutions | 6,452 | 6,370 | |
Other intangible assets (mortgage servicing rights), at fair value | 151 | 158 | |
Other assets | 9,743 | 9,018 | |
Other assets - of which loans held-for-sale | 7,636 | 7,150 | |
Netting impact | (124,224) | (128,756) | |
Total assets at fair value | 288,074 | 302,298 | |
Total assets at fair value, measured at net asset value per share | 2,722 | 2,917 | |
Recurring basis | Private equity | |||
Assets | |||
Other investments | 430 | 380 | |
Other investments, measured at net asset value per share | 407 | 351 | |
Recurring basis | Private equity - of which equity funds | |||
Assets | |||
Other investments | 170 | 163 | |
Other investments, measured at net asset value per share | 147 | 141 | |
Recurring basis | Hedge funds | |||
Assets | |||
Other investments | 194 | 391 | |
Other investments, measured at net asset value per share | 194 | 391 | |
Recurring basis | Hedge funds - of which debt funds | |||
Assets | |||
Other investments | 121 | 239 | |
Other investments, measured at net asset value per share | 121 | 239 | |
Recurring basis | Other equity investments | |||
Assets | |||
Other investments | 1,314 | 1,427 | |
Other investments, measured at net asset value per share | 1,083 | 1,122 | |
Recurring basis | Other equity investments - of which private | |||
Assets | |||
Other investments | 1,285 | 1,420 | |
Other investments, measured at net asset value per share | 1,083 | 1,122 | |
Recurring basis | Life finance instruments | |||
Assets | |||
Other investments | 1,201 | 1,308 | |
Recurring basis | Debt securities | |||
Assets | |||
Securities received as collateral | 1,984 | 1,378 | |
Trading assets | 67,595 | 72,765 | |
Trading assets, measured at net asset value per share | 12 | ||
Investment securities | 2,331 | 2,066 | |
Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Assets | |||
Trading assets | 28,428 | 34,087 | |
Investment securities | 1,240 | 1,236 | |
Recurring basis | Debt securities | Corporate debt securities | |||
Assets | |||
Securities received as collateral | 764 | 726 | |
Trading assets | 11,242 | 11,822 | |
Trading assets, measured at net asset value per share | 12 | ||
Investment securities | 410 | 238 | |
Recurring basis | Debt securities | RMBS | |||
Assets | |||
Trading assets | 22,674 | 21,719 | |
Investment securities | 677 | 207 | |
Recurring basis | Debt securities | CMBS | |||
Assets | |||
Trading assets | 3,211 | 2,517 | |
Investment securities | 2 | 173 | |
Recurring basis | Debt securities | Collateralized debt obligations | |||
Assets | |||
Trading assets | 1,562 | 2,381 | |
Recurring basis | Equity securities | |||
Assets | |||
Securities received as collateral | 43,538 | 36,696 | |
Trading assets | 43,754 | 55,722 | |
Trading assets, measured at net asset value per share | 1,026 | 1,053 | |
Investment securities | 125 | ||
Recurring basis | Derivative instruments | |||
Assets | |||
Trading assets | 19,564 | 19,621 | |
Netting impact | (124,039) | (128,592) | |
Recurring basis | Trading assets | |||
Assets | |||
Netting impact | (124,039) | (128,592) | |
Recurring basis | Other | |||
Assets | |||
Trading assets | 4,673 | 8,226 | |
Recurring basis | Other assets | |||
Assets | |||
Netting impact | (185) | (164) | |
Level 1 | Recurring basis | |||
Assets | |||
Cash and Due from Banks | 0 | 0 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 0 | 0 | |
Securities received as collateral | 44,515 | 36,697 | |
Trading assets | 73,572 | 87,352 | |
Investment securities | 99 | 250 | |
Other investments | 22 | 25 | |
Loans | 0 | 0 | |
Loans - of which commercial and industrial | 0 | 0 | |
Loans - of which financial institutions | 0 | 0 | |
Other intangible assets (mortgage servicing rights), at fair value | 0 | 0 | |
Other assets | 75 | 101 | |
Other assets - of which loans held-for-sale | 0 | 0 | |
Total assets at fair value | 118,283 | 124,425 | |
Level 1 | Recurring basis | Private equity | |||
Assets | |||
Other investments | 0 | 0 | |
Level 1 | Recurring basis | Private equity - of which equity funds | |||
Assets | |||
Other investments | 0 | 0 | |
Level 1 | Recurring basis | Hedge funds | |||
Assets | |||
Other investments | 0 | 0 | |
Level 1 | Recurring basis | Hedge funds - of which debt funds | |||
Assets | |||
Other investments | 0 | 0 | |
Level 1 | Recurring basis | Other equity investments | |||
Assets | |||
Other investments | 22 | 25 | |
Level 1 | Recurring basis | Other equity investments - of which private | |||
Assets | |||
Other investments | 22 | 18 | |
Level 1 | Recurring basis | Life finance instruments | |||
Assets | |||
Other investments | 0 | 0 | |
Level 1 | Recurring basis | Debt securities | |||
Assets | |||
Securities received as collateral | 1,126 | 576 | |
Trading assets | 24,772 | 29,828 | |
Investment securities | 99 | 244 | |
Level 1 | Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Assets | |||
Trading assets | 24,521 | 29,561 | |
Investment securities | 99 | 97 | |
Level 1 | Recurring basis | Debt securities | Corporate debt securities | |||
Assets | |||
Securities received as collateral | 0 | 0 | |
Trading assets | 123 | 179 | |
Investment securities | 0 | 0 | |
Level 1 | Recurring basis | Debt securities | RMBS | |||
Assets | |||
Trading assets | 0 | 0 | |
Investment securities | 0 | 0 | |
Level 1 | Recurring basis | Debt securities | CMBS | |||
Assets | |||
Trading assets | 0 | 0 | |
Investment securities | 0 | 0 | |
Level 1 | Recurring basis | Debt securities | Collateralized debt obligations | |||
Assets | |||
Trading assets | 4 | 0 | |
Level 1 | Recurring basis | Equity securities | |||
Assets | |||
Securities received as collateral | 43,389 | 36,121 | |
Trading assets | 39,705 | 51,025 | |
Investment securities | 6 | ||
Level 1 | Recurring basis | Derivative instruments | |||
Assets | |||
Trading assets | 7,130 | 3,577 | |
Level 1 | Recurring basis | Derivative instruments | Interest rate derivatives | |||
Assets | |||
Trading assets | 2,451 | 1,219 | |
Level 1 | Recurring basis | Derivative instruments | Foreign exchange derivatives | |||
Assets | |||
Trading assets | 350 | 19 | |
Level 1 | Recurring basis | Derivative instruments | Equity/Index-related products | |||
Assets | |||
Trading assets | 4,327 | 2,338 | |
Level 1 | Recurring basis | Derivative instruments | Credit derivatives | |||
Assets | |||
Trading assets | 0 | 0 | |
Level 1 | Recurring basis | Other | |||
Assets | |||
Trading assets | 1,965 | 2,922 | |
Level 2 | Recurring basis | |||
Assets | |||
Cash and Due from Banks | 185 | 212 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 75,706 | 77,498 | |
Securities received as collateral | 998 | 1,331 | |
Trading assets | 177,420 | 187,767 | |
Investment securities | 2,079 | 1,899 | |
Other investments | 85 | 16 | |
Loans | 11,527 | 10,777 | |
Loans - of which commercial and industrial | 4,140 | 3,437 | |
Loans - of which financial institutions | 5,026 | 4,890 | |
Other intangible assets (mortgage servicing rights), at fair value | 0 | 0 | |
Other assets | 8,293 | 7,570 | |
Other assets - of which loans held-for-sale | 6,281 | 5,800 | |
Total assets at fair value | 276,293 | 287,070 | |
Level 2 | Recurring basis | Private equity | |||
Assets | |||
Other investments | 0 | 0 | |
Level 2 | Recurring basis | Private equity - of which equity funds | |||
Assets | |||
Other investments | 0 | 0 | |
Level 2 | Recurring basis | Hedge funds | |||
Assets | |||
Other investments | 0 | 0 | |
Level 2 | Recurring basis | Hedge funds - of which debt funds | |||
Assets | |||
Other investments | 0 | 0 | |
Level 2 | Recurring basis | Other equity investments | |||
Assets | |||
Other investments | 85 | 9 | |
Level 2 | Recurring basis | Other equity investments - of which private | |||
Assets | |||
Other investments | 84 | 9 | |
Level 2 | Recurring basis | Life finance instruments | |||
Assets | |||
Other investments | 0 | 7 | |
Level 2 | Recurring basis | Debt securities | |||
Assets | |||
Securities received as collateral | 858 | 802 | |
Trading assets | 40,650 | 40,645 | |
Investment securities | 2,079 | 1,780 | |
Level 2 | Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Assets | |||
Trading assets | 3,688 | 4,256 | |
Investment securities | 1,141 | 1,139 | |
Level 2 | Recurring basis | Debt securities | Corporate debt securities | |||
Assets | |||
Securities received as collateral | 764 | 726 | |
Trading assets | 9,874 | 10,231 | |
Investment securities | 410 | 238 | |
Level 2 | Recurring basis | Debt securities | RMBS | |||
Assets | |||
Trading assets | 22,228 | 21,399 | |
Investment securities | 526 | 167 | |
Level 2 | Recurring basis | Debt securities | CMBS | |||
Assets | |||
Trading assets | 3,191 | 2,501 | |
Investment securities | 0 | 171 | |
Level 2 | Recurring basis | Debt securities | Collateralized debt obligations | |||
Assets | |||
Trading assets | 1,450 | 2,255 | |
Level 2 | Recurring basis | Equity securities | |||
Assets | |||
Securities received as collateral | 140 | 529 | |
Trading assets | 2,841 | 3,481 | |
Investment securities | 119 | ||
Level 2 | Recurring basis | Derivative instruments | |||
Assets | |||
Trading assets | 133,357 | 141,347 | |
Level 2 | Recurring basis | Derivative instruments | Interest rate derivatives | |||
Assets | |||
Trading assets | 73,145 | 84,932 | |
Level 2 | Recurring basis | Derivative instruments | Foreign exchange derivatives | |||
Assets | |||
Trading assets | 36,435 | 30,302 | |
Level 2 | Recurring basis | Derivative instruments | Equity/Index-related products | |||
Assets | |||
Trading assets | 17,175 | 18,251 | |
Level 2 | Recurring basis | Derivative instruments | Credit derivatives | |||
Assets | |||
Trading assets | 5,913 | 7,107 | |
Level 2 | Recurring basis | Other | |||
Assets | |||
Trading assets | 572 | 2,294 | |
Level 3 | Recurring basis | |||
Assets | |||
Cash and Due from Banks | 0 | 0 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 0 | 0 | |
Securities received as collateral | 9 | 46 | |
Trading assets | 7,595 | 8,754 | |
Investment securities | 153 | 42 | |
Other investments | 1,348 | 1,601 | |
Loans | 4,184 | 4,530 | |
Loans - of which commercial and industrial | 1,859 | 2,207 | |
Loans - of which financial institutions | 1,426 | 1,480 | |
Other intangible assets (mortgage servicing rights), at fair value | 151 | 158 | |
Other assets | 1,560 | 1,511 | |
Other assets - of which loans held-for-sale | 1,355 | 1,350 | |
Total assets at fair value | 15,000 | 16,642 | |
Level 3 | Recurring basis | Private equity | |||
Assets | |||
Other investments | 23 | 29 | |
Level 3 | Recurring basis | Private equity - of which equity funds | |||
Assets | |||
Other investments | 23 | 22 | |
Level 3 | Recurring basis | Hedge funds | |||
Assets | |||
Other investments | 0 | 0 | |
Level 3 | Recurring basis | Hedge funds - of which debt funds | |||
Assets | |||
Other investments | 0 | 0 | |
Level 3 | Recurring basis | Other equity investments | |||
Assets | |||
Other investments | 124 | 271 | |
Level 3 | Recurring basis | Other equity investments - of which private | |||
Assets | |||
Other investments | 96 | 271 | |
Level 3 | Recurring basis | Life finance instruments | |||
Assets | |||
Other investments | 1,201 | 1,301 | |
Level 3 | Recurring basis | Debt securities | |||
Assets | |||
Securities received as collateral | 0 | 0 | |
Trading assets | 2,161 | 2,292 | |
Investment securities | 153 | 42 | |
Level 3 | Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Assets | |||
Trading assets | 219 | 270 | |
Investment securities | 0 | 0 | |
Level 3 | Recurring basis | Debt securities | Corporate debt securities | |||
Assets | |||
Securities received as collateral | 0 | 0 | |
Trading assets | 1,233 | 1,412 | |
Investment securities | 0 | 0 | |
Level 3 | Recurring basis | Debt securities | RMBS | |||
Assets | |||
Trading assets | 446 | 320 | |
Investment securities | 151 | 40 | |
Level 3 | Recurring basis | Debt securities | CMBS | |||
Assets | |||
Trading assets | 20 | 16 | |
Investment securities | 2 | 2 | |
Level 3 | Recurring basis | Debt securities | Collateralized debt obligations | |||
Assets | |||
Trading assets | 108 | 126 | |
Level 3 | Recurring basis | Equity securities | |||
Assets | |||
Securities received as collateral | 9 | 46 | |
Trading assets | 182 | 163 | |
Investment securities | 0 | ||
Level 3 | Recurring basis | Derivative instruments | |||
Assets | |||
Trading assets | 3,116 | 3,289 | |
Level 3 | Recurring basis | Derivative instruments | Interest rate derivatives | |||
Assets | |||
Trading assets | 707 | 801 | |
Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | |||
Assets | |||
Trading assets | 231 | 188 | |
Level 3 | Recurring basis | Derivative instruments | Equity/Index-related products | |||
Assets | |||
Trading assets | 747 | 833 | |
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | |||
Assets | |||
Trading assets | 745 | 634 | |
Level 3 | Recurring basis | Other | |||
Assets | |||
Trading assets | 2,136 | 3,010 | |
Bank | |||
Assets | |||
Cash and Due from Banks | 185 | 212 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 75,706 | 77,498 | |
Securities received as collateral | 45,522 | 38,074 | |
Trading assets | 135,787 | 156,774 | |
Investment securities | 2,329 | 2,189 | |
Other investments | 3,131 | 3,497 | |
Loans | 15,711 | 15,307 | |
Other intangible assets (mortgage servicing rights), at fair value | 151 | 158 | |
Other assets | 9,743 | 9,018 | |
Netting impact | (124,200) | (128,800) | |
Total assets at fair value, measured at net asset value per share | 2,712 | 2,899 | |
Bank | Recurring basis | |||
Assets | |||
Cash and Due from Banks | 185 | 212 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 75,706 | 77,498 | |
Securities received as collateral | 45,522 | 38,074 | |
Trading assets | 135,787 | 156,774 | |
Trading assets, measured at net asset value per share | 1,038 | 1,053 | |
Investment securities | 2,329 | 2,189 | |
Other investments | 3,131 | 3,497 | |
Other investments, measured at net asset value per share | 1,676 | 1,855 | |
Loans | 15,711 | 15,307 | |
Loans - of which commercial and industrial | 5,999 | 5,644 | |
Loans - of which financial institutions | 6,452 | 6,370 | |
Other intangible assets (mortgage servicing rights), at fair value | 151 | 158 | |
Other assets | 9,743 | 9,018 | |
Other assets - of which loans held-for-sale | 7,636 | 7,150 | |
Netting impact | (124,224) | (128,771) | |
Total assets at fair value | 288,265 | 302,727 | |
Total assets at fair value, measured at net asset value per share | 2,714 | 2,908 | |
Bank | Recurring basis | Private equity | |||
Assets | |||
Other investments | 422 | 372 | |
Other investments, measured at net asset value per share | 399 | 343 | |
Bank | Recurring basis | Private equity - of which equity funds | |||
Assets | |||
Other investments | 162 | 155 | |
Other investments, measured at net asset value per share | 139 | 133 | |
Bank | Recurring basis | Hedge funds | |||
Assets | |||
Other investments | 194 | 391 | |
Other investments, measured at net asset value per share | 194 | 391 | |
Bank | Recurring basis | Hedge funds - of which debt funds | |||
Assets | |||
Other investments | 121 | 239 | |
Other investments, measured at net asset value per share | 121 | 239 | |
Bank | Recurring basis | Other equity investments | |||
Assets | |||
Other investments | 1,314 | 1,426 | |
Other investments, measured at net asset value per share | 1,083 | 1,121 | |
Bank | Recurring basis | Other equity investments - of which private | |||
Assets | |||
Other investments | 1,285 | 1,419 | |
Other investments, measured at net asset value per share | 1,083 | 1,121 | |
Bank | Recurring basis | Life finance instruments | |||
Assets | |||
Other investments | 1,201 | 1,308 | |
Bank | Recurring basis | Debt securities | |||
Assets | |||
Securities received as collateral | 1,984 | 1,378 | |
Trading assets | 67,695 | 72,826 | |
Trading assets, measured at net asset value per share | 12 | ||
Investment securities | 2,329 | 2,064 | |
Bank | Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Assets | |||
Trading assets | 28,428 | 34,087 | |
Investment securities | 1,240 | 1,236 | |
Bank | Recurring basis | Debt securities | Corporate debt securities | |||
Assets | |||
Securities received as collateral | 764 | 726 | |
Trading assets | 11,342 | 11,883 | |
Trading assets, measured at net asset value per share | 12 | ||
Investment securities | 410 | 238 | |
Bank | Recurring basis | Debt securities | RMBS | |||
Assets | |||
Trading assets | 22,674 | 21,719 | |
Investment securities | 677 | 207 | |
Bank | Recurring basis | Debt securities | CMBS | |||
Assets | |||
Trading assets | 3,211 | 2,517 | |
Investment securities | 2 | 173 | |
Bank | Recurring basis | Debt securities | Collateralized debt obligations | |||
Assets | |||
Trading assets | 1,562 | 2,381 | |
Bank | Recurring basis | Equity securities | |||
Assets | |||
Securities received as collateral | 43,538 | 36,696 | |
Trading assets | 43,799 | 55,822 | |
Trading assets, measured at net asset value per share | 1,026 | 1,053 | |
Investment securities | 125 | ||
Bank | Recurring basis | Derivative instruments | |||
Assets | |||
Trading assets | 19,621 | 19,900 | |
Netting impact | (124,039) | (128,607) | |
Bank | Recurring basis | Trading assets | |||
Assets | |||
Netting impact | (124,039) | (128,607) | |
Bank | Recurring basis | Other | |||
Assets | |||
Trading assets | 4,672 | 8,226 | |
Bank | Recurring basis | Other assets | |||
Assets | |||
Netting impact | (185) | (164) | |
Bank | Level 1 | Recurring basis | |||
Assets | |||
Cash and Due from Banks | 0 | 0 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 0 | 0 | |
Securities received as collateral | 44,515 | 36,697 | |
Trading assets | 73,616 | 87,452 | |
Investment securities | 99 | 250 | |
Other investments | 22 | 25 | |
Loans | 0 | 0 | |
Loans - of which commercial and industrial | 0 | 0 | |
Loans - of which financial institutions | 0 | 0 | |
Other intangible assets (mortgage servicing rights), at fair value | 0 | 0 | |
Other assets | 75 | 101 | |
Other assets - of which loans held-for-sale | 0 | 0 | |
Total assets at fair value | 118,327 | 124,525 | |
Bank | Level 1 | Recurring basis | Private equity | |||
Assets | |||
Other investments | 0 | 0 | |
Bank | Level 1 | Recurring basis | Private equity - of which equity funds | |||
Assets | |||
Other investments | 0 | 0 | |
Bank | Level 1 | Recurring basis | Hedge funds | |||
Assets | |||
Other investments | 0 | 0 | |
Bank | Level 1 | Recurring basis | Hedge funds - of which debt funds | |||
Assets | |||
Other investments | 0 | 0 | |
Bank | Level 1 | Recurring basis | Other equity investments | |||
Assets | |||
Other investments | 22 | 25 | |
Bank | Level 1 | Recurring basis | Other equity investments - of which private | |||
Assets | |||
Other investments | 22 | 18 | |
Bank | Level 1 | Recurring basis | Life finance instruments | |||
Assets | |||
Other investments | 0 | 0 | |
Bank | Level 1 | Recurring basis | Debt securities | |||
Assets | |||
Securities received as collateral | 1,126 | 576 | |
Trading assets | 24,772 | 29,827 | |
Investment securities | 99 | 244 | |
Bank | Level 1 | Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Assets | |||
Trading assets | 24,521 | 29,561 | |
Investment securities | 99 | 98 | |
Bank | Level 1 | Recurring basis | Debt securities | Corporate debt securities | |||
Assets | |||
Securities received as collateral | 0 | 0 | |
Trading assets | 123 | 179 | |
Investment securities | 0 | 0 | |
Bank | Level 1 | Recurring basis | Debt securities | RMBS | |||
Assets | |||
Trading assets | 0 | 0 | |
Investment securities | 0 | 0 | |
Bank | Level 1 | Recurring basis | Debt securities | CMBS | |||
Assets | |||
Trading assets | 0 | 0 | |
Investment securities | 0 | 0 | |
Bank | Level 1 | Recurring basis | Debt securities | Collateralized debt obligations | |||
Assets | |||
Trading assets | 4 | 0 | |
Bank | Level 1 | Recurring basis | Equity securities | |||
Assets | |||
Securities received as collateral | 43,389 | 36,121 | |
Trading assets | 39,750 | 51,125 | |
Investment securities | 6 | ||
Bank | Level 1 | Recurring basis | Derivative instruments | |||
Assets | |||
Trading assets | 7,130 | 3,577 | |
Bank | Level 1 | Recurring basis | Derivative instruments | Interest rate derivatives | |||
Assets | |||
Trading assets | 2,451 | 1,219 | |
Bank | Level 1 | Recurring basis | Derivative instruments | Foreign exchange derivatives | |||
Assets | |||
Trading assets | 350 | 19 | |
Bank | Level 1 | Recurring basis | Derivative instruments | Equity/Index-related products | |||
Assets | |||
Trading assets | 4,327 | 2,339 | |
Bank | Level 1 | Recurring basis | Derivative instruments | Credit derivatives | |||
Assets | |||
Trading assets | 0 | 0 | |
Bank | Level 1 | Recurring basis | Other | |||
Assets | |||
Trading assets | 1,964 | 2,923 | |
Bank | Level 2 | Recurring basis | |||
Assets | |||
Cash and Due from Banks | 185 | 212 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 75,706 | 77,498 | |
Securities received as collateral | 998 | 1,331 | |
Trading assets | 177,577 | 188,122 | |
Investment securities | 2,077 | 1,897 | |
Other investments | 85 | 16 | |
Loans | 11,527 | 10,777 | |
Loans - of which commercial and industrial | 4,140 | 3,437 | |
Loans - of which financial institutions | 5,026 | 4,890 | |
Other intangible assets (mortgage servicing rights), at fair value | 0 | 0 | |
Other assets | 8,293 | 7,570 | |
Other assets - of which loans held-for-sale | 6,281 | 5,800 | |
Total assets at fair value | 276,448 | 287,423 | |
Bank | Level 2 | Recurring basis | Private equity | |||
Assets | |||
Other investments | 0 | 0 | |
Bank | Level 2 | Recurring basis | Private equity - of which equity funds | |||
Assets | |||
Other investments | 0 | 0 | |
Bank | Level 2 | Recurring basis | Hedge funds | |||
Assets | |||
Other investments | 0 | 0 | |
Bank | Level 2 | Recurring basis | Hedge funds - of which debt funds | |||
Assets | |||
Other investments | 0 | 0 | |
Bank | Level 2 | Recurring basis | Other equity investments | |||
Assets | |||
Other investments | 85 | 9 | |
Bank | Level 2 | Recurring basis | Other equity investments - of which private | |||
Assets | |||
Other investments | 84 | 9 | |
Bank | Level 2 | Recurring basis | Life finance instruments | |||
Assets | |||
Other investments | 0 | 7 | |
Bank | Level 2 | Recurring basis | Debt securities | |||
Assets | |||
Securities received as collateral | 858 | 802 | |
Trading assets | 40,750 | 40,707 | |
Investment securities | 2,077 | 1,778 | |
Bank | Level 2 | Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Assets | |||
Trading assets | 3,688 | 4,256 | |
Investment securities | 1,141 | 1,138 | |
Bank | Level 2 | Recurring basis | Debt securities | Corporate debt securities | |||
Assets | |||
Securities received as collateral | 764 | 726 | |
Trading assets | 9,974 | 10,292 | |
Investment securities | 410 | 238 | |
Bank | Level 2 | Recurring basis | Debt securities | RMBS | |||
Assets | |||
Trading assets | 22,228 | 21,399 | |
Investment securities | 526 | 167 | |
Bank | Level 2 | Recurring basis | Debt securities | CMBS | |||
Assets | |||
Trading assets | 3,191 | 2,501 | |
Investment securities | 0 | 171 | |
Bank | Level 2 | Recurring basis | Debt securities | Collateralized debt obligations | |||
Assets | |||
Trading assets | 1,450 | 2,255 | |
Bank | Level 2 | Recurring basis | Equity securities | |||
Assets | |||
Securities received as collateral | 140 | 529 | |
Trading assets | 2,841 | 3,481 | |
Investment securities | 119 | ||
Bank | Level 2 | Recurring basis | Derivative instruments | |||
Assets | |||
Trading assets | 133,414 | 141,641 | |
Bank | Level 2 | Recurring basis | Derivative instruments | Interest rate derivatives | |||
Assets | |||
Trading assets | 73,145 | 84,932 | |
Bank | Level 2 | Recurring basis | Derivative instruments | Foreign exchange derivatives | |||
Assets | |||
Trading assets | 36,435 | 30,302 | |
Bank | Level 2 | Recurring basis | Derivative instruments | Equity/Index-related products | |||
Assets | |||
Trading assets | 17,232 | 18,544 | |
Bank | Level 2 | Recurring basis | Derivative instruments | Credit derivatives | |||
Assets | |||
Trading assets | 5,913 | 7,107 | |
Bank | Level 2 | Recurring basis | Other | |||
Assets | |||
Trading assets | 572 | 2,293 | |
Bank | Level 3 | Recurring basis | |||
Assets | |||
Cash and Due from Banks | 0 | 0 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 0 | 0 | |
Securities received as collateral | 9 | 46 | |
Trading assets | 7,595 | 8,754 | |
Investment securities | 153 | 42 | |
Other investments | 1,348 | 1,601 | |
Loans | 4,184 | 4,530 | |
Loans - of which commercial and industrial | 1,859 | 2,207 | |
Loans - of which financial institutions | 1,426 | 1,480 | |
Other intangible assets (mortgage servicing rights), at fair value | 151 | 158 | |
Other assets | 1,560 | 1,511 | |
Other assets - of which loans held-for-sale | 1,355 | 1,350 | |
Total assets at fair value | 15,000 | 16,642 | |
Bank | Level 3 | Recurring basis | Private equity | |||
Assets | |||
Other investments | 23 | 29 | |
Bank | Level 3 | Recurring basis | Private equity - of which equity funds | |||
Assets | |||
Other investments | 23 | 22 | |
Bank | Level 3 | Recurring basis | Hedge funds | |||
Assets | |||
Other investments | 0 | 0 | |
Bank | Level 3 | Recurring basis | Hedge funds - of which debt funds | |||
Assets | |||
Other investments | 0 | 0 | |
Bank | Level 3 | Recurring basis | Other equity investments | |||
Assets | |||
Other investments | 124 | 271 | |
Bank | Level 3 | Recurring basis | Other equity investments - of which private | |||
Assets | |||
Other investments | 96 | 271 | |
Bank | Level 3 | Recurring basis | Life finance instruments | |||
Assets | |||
Other investments | 1,201 | 1,301 | |
Bank | Level 3 | Recurring basis | Debt securities | |||
Assets | |||
Securities received as collateral | 0 | 0 | |
Trading assets | 2,161 | 2,292 | |
Investment securities | 153 | 42 | |
Bank | Level 3 | Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Assets | |||
Trading assets | 219 | 270 | |
Investment securities | 0 | 0 | |
Bank | Level 3 | Recurring basis | Debt securities | Corporate debt securities | |||
Assets | |||
Securities received as collateral | 0 | 0 | |
Trading assets | 1,233 | 1,412 | |
Investment securities | 0 | 0 | |
Bank | Level 3 | Recurring basis | Debt securities | RMBS | |||
Assets | |||
Trading assets | 446 | 320 | |
Investment securities | 151 | 40 | |
Bank | Level 3 | Recurring basis | Debt securities | CMBS | |||
Assets | |||
Trading assets | 20 | 16 | |
Investment securities | 2 | 2 | |
Bank | Level 3 | Recurring basis | Debt securities | Collateralized debt obligations | |||
Assets | |||
Trading assets | 108 | 126 | |
Bank | Level 3 | Recurring basis | Equity securities | |||
Assets | |||
Securities received as collateral | 9 | 46 | |
Trading assets | 182 | 163 | |
Investment securities | 0 | ||
Bank | Level 3 | Recurring basis | Derivative instruments | |||
Assets | |||
Trading assets | 3,116 | 3,289 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Interest rate derivatives | |||
Assets | |||
Trading assets | 707 | 801 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | |||
Assets | |||
Trading assets | 231 | 188 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Equity/Index-related products | |||
Assets | |||
Trading assets | 747 | 833 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | |||
Assets | |||
Trading assets | 745 | 634 | |
Bank | Level 3 | Recurring basis | Other | |||
Assets | |||
Trading assets | SFr 2,136 | SFr 3,010 |
FI - Liabilities measured at fa
FI - Liabilities measured at fair value on recurring basis (Details 3) - CHF (SFr) SFr in Millions | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 |
Liabilities | |||
Due to banks | SFr 169 | SFr 213 | SFr 197 |
Customer deposits | 3,407 | 3,371 | 3,511 |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 9,457 | 15,740 | 15,262 |
Obligation to return securities received as collateral | 45,522 | 41,227 | 38,074 |
Trading liabilities | 42,776 | 44,755 | 39,119 |
Short-term borrowings | 11,675 | 11,535 | 11,019 |
Long-term debt | 62,205 | 61,536 | 63,628 |
Other liabilities | 7,750 | SFr 8,296 | 8,624 |
Netting impact | (131,100) | (137,100) | |
Recurring basis | |||
Liabilities | |||
Due to banks | 169 | 197 | |
Customer deposits | 3,407 | 3,511 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 9,457 | 15,262 | |
Obligation to return securities received as collateral | 45,522 | 38,074 | |
Trading liabilities | 42,776 | 39,119 | |
Trading liabilities, measured at net asset value per share | 2 | 9 | |
Short-term borrowings | 11,675 | 11,019 | |
Long-term debt | 62,205 | 63,628 | |
Other liabilities | 7,750 | 8,624 | |
Netting impact | (131,140) | (137,094) | |
Total liabilities at fair value | 182,961 | 179,434 | |
Total liabilities at fair value, measured at net asset value per share | 2 | 9 | |
Recurring basis | Long-term debt - of which treasury debt over two years | |||
Liabilities | |||
Long-term debt | 899 | 936 | |
Recurring basis | Long-term debt - of which structured notes over one year and up to two years | |||
Liabilities | |||
Long-term debt | 7,631 | 6,365 | |
Recurring basis | Long-term debt - of which structured notes over two years | |||
Liabilities | |||
Long-term debt | 41,814 | 45,041 | |
Recurring basis | Long-term debt - of which other debt instruments over two years | |||
Liabilities | |||
Long-term debt | 2,772 | 2,282 | |
Recurring basis | Long-term debt - of which other subordinated bonds | |||
Liabilities | |||
Long-term debt | 5,063 | 5,567 | |
Recurring basis | Long-term debt - of which nonrecourse liabilities | |||
Liabilities | |||
Long-term debt | 1,072 | 863 | |
Recurring basis | Other liabilities - of which failed sales | |||
Liabilities | |||
Other liabilities | 564 | 662 | |
Recurring basis | Debt securities | |||
Liabilities | |||
Obligation to return securities received as collateral | 1,984 | 1,378 | |
Trading liabilities | 8,552 | 9,301 | |
Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Liabilities | |||
Trading liabilities | 4,598 | 5,854 | |
Recurring basis | Debt securities | Corporate debt securities | |||
Liabilities | |||
Obligation to return securities received as collateral | 764 | 726 | |
Trading liabilities | 3,826 | 3,348 | |
Recurring basis | Equity securities | |||
Liabilities | |||
Obligation to return securities received as collateral | 43,538 | 36,696 | |
Trading liabilities | 19,042 | 15,164 | |
Trading liabilities, measured at net asset value per share | 2 | 9 | |
Recurring basis | Derivative instruments | |||
Liabilities | |||
Trading liabilities | 15,182 | 14,654 | |
Netting impact | (130,924) | (136,861) | |
Recurring basis | Trading Liabilities | |||
Liabilities | |||
Netting impact | (130,924) | (136,861) | |
Recurring basis | Other liabilities | |||
Liabilities | |||
Netting impact | (216) | (233) | |
Level 1 | Recurring basis | |||
Liabilities | |||
Due to banks | 0 | 0 | |
Customer deposits | 0 | 0 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 0 | 0 | |
Obligation to return securities received as collateral | 44,515 | 36,697 | |
Trading liabilities | 31,163 | 23,108 | |
Short-term borrowings | 0 | 0 | |
Long-term debt | 0 | 0 | |
Other liabilities | 0 | 0 | |
Total liabilities at fair value | 75,678 | 59,805 | |
Level 1 | Recurring basis | Long-term debt - of which treasury debt over two years | |||
Liabilities | |||
Long-term debt | 0 | 0 | |
Level 1 | Recurring basis | Long-term debt - of which structured notes over one year and up to two years | |||
Liabilities | |||
Long-term debt | 0 | 0 | |
Level 1 | Recurring basis | Long-term debt - of which structured notes over two years | |||
Liabilities | |||
Long-term debt | 0 | 0 | |
Level 1 | Recurring basis | Long-term debt - of which other debt instruments over two years | |||
Liabilities | |||
Long-term debt | 0 | 0 | |
Level 1 | Recurring basis | Long-term debt - of which other subordinated bonds | |||
Liabilities | |||
Long-term debt | 0 | 0 | |
Level 1 | Recurring basis | Long-term debt - of which nonrecourse liabilities | |||
Liabilities | |||
Long-term debt | 0 | 0 | |
Level 1 | Recurring basis | Other liabilities - of which failed sales | |||
Liabilities | |||
Other liabilities | 0 | 0 | |
Level 1 | Recurring basis | Debt securities | |||
Liabilities | |||
Obligation to return securities received as collateral | 1,126 | 576 | |
Trading liabilities | 4,297 | 5,160 | |
Level 1 | Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Liabilities | |||
Trading liabilities | 4,272 | 5,108 | |
Level 1 | Recurring basis | Debt securities | Corporate debt securities | |||
Liabilities | |||
Obligation to return securities received as collateral | 0 | 0 | |
Trading liabilities | 6 | 12 | |
Level 1 | Recurring basis | Equity securities | |||
Liabilities | |||
Obligation to return securities received as collateral | 43,389 | 36,121 | |
Trading liabilities | 18,744 | 14,217 | |
Level 1 | Recurring basis | Derivative instruments | |||
Liabilities | |||
Trading liabilities | 8,122 | 3,731 | |
Level 1 | Recurring basis | Derivative instruments | Interest rate derivatives | |||
Liabilities | |||
Trading liabilities | 2,749 | 1,254 | |
Level 1 | Recurring basis | Derivative instruments | Foreign exchange derivatives | |||
Liabilities | |||
Trading liabilities | 326 | 8 | |
Level 1 | Recurring basis | Derivative instruments | Credit derivatives | |||
Liabilities | |||
Trading liabilities | 0 | 0 | |
Level 1 | Recurring basis | Derivative instruments | Equity/Index-related products | |||
Liabilities | |||
Trading liabilities | 5,045 | 2,468 | |
Level 2 | Recurring basis | |||
Liabilities | |||
Due to banks | 169 | 197 | |
Customer deposits | 2,941 | 3,056 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 9,457 | 15,262 | |
Obligation to return securities received as collateral | 998 | 1,331 | |
Trading liabilities | 139,492 | 149,637 | |
Short-term borrowings | 10,010 | 10,174 | |
Long-term debt | 49,242 | 51,127 | |
Other liabilities | 6,870 | 7,379 | |
Total liabilities at fair value | 219,179 | 238,163 | |
Level 2 | Recurring basis | Long-term debt - of which treasury debt over two years | |||
Liabilities | |||
Long-term debt | 899 | 936 | |
Level 2 | Recurring basis | Long-term debt - of which structured notes over one year and up to two years | |||
Liabilities | |||
Long-term debt | 7,088 | 6,216 | |
Level 2 | Recurring basis | Long-term debt - of which structured notes over two years | |||
Liabilities | |||
Long-term debt | 29,659 | 32,782 | |
Level 2 | Recurring basis | Long-term debt - of which other debt instruments over two years | |||
Liabilities | |||
Long-term debt | 2,664 | 2,221 | |
Level 2 | Recurring basis | Long-term debt - of which other subordinated bonds | |||
Liabilities | |||
Long-term debt | 5,062 | 5,567 | |
Level 2 | Recurring basis | Long-term debt - of which nonrecourse liabilities | |||
Liabilities | |||
Long-term debt | 1,033 | 833 | |
Level 2 | Recurring basis | Other liabilities - of which failed sales | |||
Liabilities | |||
Other liabilities | 465 | 439 | |
Level 2 | Recurring basis | Debt securities | |||
Liabilities | |||
Obligation to return securities received as collateral | 858 | 802 | |
Trading liabilities | 4,214 | 4,139 | |
Level 2 | Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Liabilities | |||
Trading liabilities | 326 | 746 | |
Level 2 | Recurring basis | Debt securities | Corporate debt securities | |||
Liabilities | |||
Obligation to return securities received as collateral | 764 | 726 | |
Trading liabilities | 3,779 | 3,334 | |
Level 2 | Recurring basis | Equity securities | |||
Liabilities | |||
Obligation to return securities received as collateral | 140 | 529 | |
Trading liabilities | 242 | 883 | |
Level 2 | Recurring basis | Derivative instruments | |||
Liabilities | |||
Trading liabilities | 135,036 | 144,615 | |
Level 2 | Recurring basis | Derivative instruments | Interest rate derivatives | |||
Liabilities | |||
Trading liabilities | 68,649 | 80,534 | |
Level 2 | Recurring basis | Derivative instruments | Foreign exchange derivatives | |||
Liabilities | |||
Trading liabilities | 40,835 | 35,707 | |
Level 2 | Recurring basis | Derivative instruments | Credit derivatives | |||
Liabilities | |||
Trading liabilities | 7,165 | 7,982 | |
Level 2 | Recurring basis | Derivative instruments | Equity/Index-related products | |||
Liabilities | |||
Trading liabilities | 17,806 | 19,459 | |
Level 3 | Recurring basis | |||
Liabilities | |||
Due to banks | 0 | 0 | |
Customer deposits | 466 | 455 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 0 | 0 | |
Obligation to return securities received as collateral | 9 | 46 | |
Trading liabilities | 3,043 | 3,226 | |
Short-term borrowings | 1,665 | 845 | |
Long-term debt | 12,963 | 12,501 | |
Other liabilities | 1,096 | 1,478 | |
Total liabilities at fair value | 19,242 | 18,551 | |
Level 3 | Recurring basis | Long-term debt - of which treasury debt over two years | |||
Liabilities | |||
Long-term debt | 0 | 0 | |
Level 3 | Recurring basis | Long-term debt - of which structured notes over one year and up to two years | |||
Liabilities | |||
Long-term debt | 543 | 149 | |
Level 3 | Recurring basis | Long-term debt - of which structured notes over two years | |||
Liabilities | |||
Long-term debt | 12,155 | 12,259 | |
Level 3 | Recurring basis | Long-term debt - of which other debt instruments over two years | |||
Liabilities | |||
Long-term debt | 108 | 61 | |
Level 3 | Recurring basis | Long-term debt - of which other subordinated bonds | |||
Liabilities | |||
Long-term debt | 1 | 0 | |
Level 3 | Recurring basis | Long-term debt - of which nonrecourse liabilities | |||
Liabilities | |||
Long-term debt | 39 | 30 | |
Level 3 | Recurring basis | Other liabilities - of which failed sales | |||
Liabilities | |||
Other liabilities | 99 | 223 | |
Level 3 | Recurring basis | Debt securities | |||
Liabilities | |||
Obligation to return securities received as collateral | 0 | 0 | |
Trading liabilities | 41 | 2 | |
Level 3 | Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Liabilities | |||
Trading liabilities | 0 | 0 | |
Level 3 | Recurring basis | Debt securities | Corporate debt securities | |||
Liabilities | |||
Obligation to return securities received as collateral | 0 | 0 | |
Trading liabilities | 41 | 2 | |
Level 3 | Recurring basis | Equity securities | |||
Liabilities | |||
Obligation to return securities received as collateral | 9 | 46 | |
Trading liabilities | 54 | 55 | |
Level 3 | Recurring basis | Derivative instruments | |||
Liabilities | |||
Trading liabilities | 2,948 | 3,169 | |
Level 3 | Recurring basis | Derivative instruments | Interest rate derivatives | |||
Liabilities | |||
Trading liabilities | 230 | 317 | |
Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | |||
Liabilities | |||
Trading liabilities | 159 | 100 | |
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | |||
Liabilities | |||
Trading liabilities | 900 | 898 | |
Level 3 | Recurring basis | Derivative instruments | Equity/Index-related products | |||
Liabilities | |||
Trading liabilities | 1,129 | 1,301 | |
Bank | |||
Liabilities | |||
Due to banks | 169 | 197 | |
Customer deposits | 3,407 | 3,511 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 9,457 | 15,262 | |
Obligation to return securities received as collateral | 45,522 | 38,074 | |
Trading liabilities | 42,779 | 39,132 | |
Short-term borrowings | 11,675 | 11,019 | |
Long-term debt | 61,272 | 62,622 | |
Other liabilities | 7,735 | 8,590 | |
Netting impact | (131,200) | (137,400) | |
Bank | Recurring basis | |||
Liabilities | |||
Due to banks | 169 | 197 | |
Customer deposits | 3,407 | 3,511 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 9,457 | 15,262 | |
Obligation to return securities received as collateral | 45,522 | 38,074 | |
Trading liabilities | 42,779 | 39,132 | |
Trading liabilities, measured at net asset value per share | 2 | 9 | |
Short-term borrowings | 11,675 | 11,019 | |
Long-term debt | 61,272 | 62,622 | |
Other liabilities | 7,735 | 8,590 | |
Netting impact | (131,197) | (137,408) | |
Total liabilities at fair value | 182,016 | 178,407 | |
Total liabilities at fair value, measured at net asset value per share | 2 | 9 | |
Bank | Recurring basis | Long-term debt - of which treasury debt over two years | |||
Liabilities | |||
Long-term debt | 899 | 936 | |
Bank | Recurring basis | Long-term debt - of which structured notes over one year and up to two years | |||
Liabilities | |||
Long-term debt | 7,631 | 6,365 | |
Bank | Recurring basis | Long-term debt - of which structured notes over two years | |||
Liabilities | |||
Long-term debt | 41,814 | 45,041 | |
Bank | Recurring basis | Long-term debt - of which other debt instruments over two years | |||
Liabilities | |||
Long-term debt | 2,772 | 2,282 | |
Bank | Recurring basis | Long-term debt - of which other subordinated bonds | |||
Liabilities | |||
Long-term debt | 4,126 | 4,557 | |
Bank | Recurring basis | Long-term debt - of which nonrecourse liabilities | |||
Liabilities | |||
Long-term debt | 1,072 | 863 | |
Bank | Recurring basis | Other liabilities - of which failed sales | |||
Liabilities | |||
Other liabilities | 564 | 662 | |
Bank | Recurring basis | Debt securities | |||
Liabilities | |||
Obligation to return securities received as collateral | 1,984 | 1,378 | |
Trading liabilities | 8,552 | 9,301 | |
Bank | Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Liabilities | |||
Trading liabilities | 4,598 | 5,854 | |
Bank | Recurring basis | Debt securities | Corporate debt securities | |||
Liabilities | |||
Obligation to return securities received as collateral | 764 | 726 | |
Trading liabilities | 3,826 | 3,348 | |
Bank | Recurring basis | Equity securities | |||
Liabilities | |||
Obligation to return securities received as collateral | 43,538 | 36,696 | |
Trading liabilities | 19,044 | 15,177 | |
Trading liabilities, measured at net asset value per share | 2 | 9 | |
Bank | Recurring basis | Derivative instruments | |||
Liabilities | |||
Trading liabilities | 15,183 | 14,654 | |
Netting impact | (130,981) | (137,175) | |
Bank | Recurring basis | Trading Liabilities | |||
Liabilities | |||
Netting impact | (130,981) | (137,175) | |
Bank | Recurring basis | Other liabilities | |||
Liabilities | |||
Netting impact | (216) | (233) | |
Bank | Level 1 | Recurring basis | |||
Liabilities | |||
Due to banks | 0 | 0 | |
Customer deposits | 0 | 0 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 0 | 0 | |
Obligation to return securities received as collateral | 44,515 | 36,697 | |
Trading liabilities | 31,164 | 23,121 | |
Short-term borrowings | 0 | 0 | |
Long-term debt | 0 | 0 | |
Other liabilities | 0 | 0 | |
Total liabilities at fair value | 75,679 | 59,818 | |
Bank | Level 1 | Recurring basis | Long-term debt - of which treasury debt over two years | |||
Liabilities | |||
Long-term debt | 0 | 0 | |
Bank | Level 1 | Recurring basis | Long-term debt - of which structured notes over one year and up to two years | |||
Liabilities | |||
Long-term debt | 0 | 0 | |
Bank | Level 1 | Recurring basis | Long-term debt - of which structured notes over two years | |||
Liabilities | |||
Long-term debt | 0 | 0 | |
Bank | Level 1 | Recurring basis | Long-term debt - of which other debt instruments over two years | |||
Liabilities | |||
Long-term debt | 0 | 0 | |
Bank | Level 1 | Recurring basis | Long-term debt - of which other subordinated bonds | |||
Liabilities | |||
Long-term debt | 0 | 0 | |
Bank | Level 1 | Recurring basis | Long-term debt - of which nonrecourse liabilities | |||
Liabilities | |||
Long-term debt | 0 | 0 | |
Bank | Level 1 | Recurring basis | Other liabilities - of which failed sales | |||
Liabilities | |||
Other liabilities | 0 | 0 | |
Bank | Level 1 | Recurring basis | Debt securities | |||
Liabilities | |||
Obligation to return securities received as collateral | 1,126 | 576 | |
Trading liabilities | 4,297 | 5,160 | |
Bank | Level 1 | Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Liabilities | |||
Trading liabilities | 4,272 | 5,108 | |
Bank | Level 1 | Recurring basis | Debt securities | Corporate debt securities | |||
Liabilities | |||
Obligation to return securities received as collateral | 0 | 0 | |
Trading liabilities | 6 | 12 | |
Bank | Level 1 | Recurring basis | Equity securities | |||
Liabilities | |||
Obligation to return securities received as collateral | 43,389 | 36,121 | |
Trading liabilities | 18,746 | 14,230 | |
Bank | Level 1 | Recurring basis | Derivative instruments | |||
Liabilities | |||
Trading liabilities | 8,121 | 3,731 | |
Bank | Level 1 | Recurring basis | Derivative instruments | Interest rate derivatives | |||
Liabilities | |||
Trading liabilities | 2,749 | 1,254 | |
Bank | Level 1 | Recurring basis | Derivative instruments | Foreign exchange derivatives | |||
Liabilities | |||
Trading liabilities | 326 | 8 | |
Bank | Level 1 | Recurring basis | Derivative instruments | Credit derivatives | |||
Liabilities | |||
Trading liabilities | 0 | 0 | |
Bank | Level 1 | Recurring basis | Derivative instruments | Equity/Index-related products | |||
Liabilities | |||
Trading liabilities | 5,045 | 2,468 | |
Bank | Level 2 | Recurring basis | |||
Liabilities | |||
Due to banks | 169 | 197 | |
Customer deposits | 2,941 | 3,056 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 9,457 | 15,262 | |
Obligation to return securities received as collateral | 998 | 1,331 | |
Trading liabilities | 139,551 | 149,951 | |
Short-term borrowings | 10,010 | 10,174 | |
Long-term debt | 48,309 | 50,121 | |
Other liabilities | 6,866 | 7,356 | |
Total liabilities at fair value | 218,301 | 237,448 | |
Bank | Level 2 | Recurring basis | Long-term debt - of which treasury debt over two years | |||
Liabilities | |||
Long-term debt | 899 | 936 | |
Bank | Level 2 | Recurring basis | Long-term debt - of which structured notes over one year and up to two years | |||
Liabilities | |||
Long-term debt | 7,088 | 6,216 | |
Bank | Level 2 | Recurring basis | Long-term debt - of which structured notes over two years | |||
Liabilities | |||
Long-term debt | 29,659 | 32,782 | |
Bank | Level 2 | Recurring basis | Long-term debt - of which other debt instruments over two years | |||
Liabilities | |||
Long-term debt | 2,664 | 2,221 | |
Bank | Level 2 | Recurring basis | Long-term debt - of which other subordinated bonds | |||
Liabilities | |||
Long-term debt | 4,125 | 4,557 | |
Bank | Level 2 | Recurring basis | Long-term debt - of which nonrecourse liabilities | |||
Liabilities | |||
Long-term debt | 1,033 | 833 | |
Bank | Level 2 | Recurring basis | Other liabilities - of which failed sales | |||
Liabilities | |||
Other liabilities | 465 | 439 | |
Bank | Level 2 | Recurring basis | Debt securities | |||
Liabilities | |||
Obligation to return securities received as collateral | 858 | 802 | |
Trading liabilities | 4,214 | 4,139 | |
Bank | Level 2 | Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Liabilities | |||
Trading liabilities | 326 | 746 | |
Bank | Level 2 | Recurring basis | Debt securities | Corporate debt securities | |||
Liabilities | |||
Obligation to return securities received as collateral | 764 | 726 | |
Trading liabilities | 3,779 | 3,334 | |
Bank | Level 2 | Recurring basis | Equity securities | |||
Liabilities | |||
Obligation to return securities received as collateral | 140 | 529 | |
Trading liabilities | 242 | 883 | |
Bank | Level 2 | Recurring basis | Derivative instruments | |||
Liabilities | |||
Trading liabilities | 135,095 | 144,929 | |
Bank | Level 2 | Recurring basis | Derivative instruments | Interest rate derivatives | |||
Liabilities | |||
Trading liabilities | 68,595 | 80,290 | |
Bank | Level 2 | Recurring basis | Derivative instruments | Foreign exchange derivatives | |||
Liabilities | |||
Trading liabilities | 40,835 | 35,707 | |
Bank | Level 2 | Recurring basis | Derivative instruments | Credit derivatives | |||
Liabilities | |||
Trading liabilities | 7,165 | 7,982 | |
Bank | Level 2 | Recurring basis | Derivative instruments | Equity/Index-related products | |||
Liabilities | |||
Trading liabilities | 17,919 | 20,017 | |
Bank | Level 3 | Recurring basis | |||
Liabilities | |||
Due to banks | 0 | 0 | |
Customer deposits | 466 | 455 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 0 | 0 | |
Obligation to return securities received as collateral | 9 | 46 | |
Trading liabilities | 3,043 | 3,226 | |
Short-term borrowings | 1,665 | 845 | |
Long-term debt | 12,963 | 12,501 | |
Other liabilities | 1,085 | 1,467 | |
Total liabilities at fair value | 19,231 | 18,540 | |
Bank | Level 3 | Recurring basis | Long-term debt - of which treasury debt over two years | |||
Liabilities | |||
Long-term debt | 0 | 0 | |
Bank | Level 3 | Recurring basis | Long-term debt - of which structured notes over one year and up to two years | |||
Liabilities | |||
Long-term debt | 543 | 149 | |
Bank | Level 3 | Recurring basis | Long-term debt - of which structured notes over two years | |||
Liabilities | |||
Long-term debt | 12,155 | 12,259 | |
Bank | Level 3 | Recurring basis | Long-term debt - of which other debt instruments over two years | |||
Liabilities | |||
Long-term debt | 108 | 61 | |
Bank | Level 3 | Recurring basis | Long-term debt - of which other subordinated bonds | |||
Liabilities | |||
Long-term debt | 1 | 0 | |
Bank | Level 3 | Recurring basis | Long-term debt - of which nonrecourse liabilities | |||
Liabilities | |||
Long-term debt | 39 | 30 | |
Bank | Level 3 | Recurring basis | Other liabilities - of which failed sales | |||
Liabilities | |||
Other liabilities | 99 | 223 | |
Bank | Level 3 | Recurring basis | Debt securities | |||
Liabilities | |||
Obligation to return securities received as collateral | 0 | 0 | |
Trading liabilities | 41 | 2 | |
Bank | Level 3 | Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Liabilities | |||
Trading liabilities | 0 | 0 | |
Bank | Level 3 | Recurring basis | Debt securities | Corporate debt securities | |||
Liabilities | |||
Obligation to return securities received as collateral | 0 | 0 | |
Trading liabilities | 41 | 2 | |
Bank | Level 3 | Recurring basis | Equity securities | |||
Liabilities | |||
Obligation to return securities received as collateral | 9 | 46 | |
Trading liabilities | 54 | 55 | |
Bank | Level 3 | Recurring basis | Derivative instruments | |||
Liabilities | |||
Trading liabilities | 2,948 | 3,169 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Interest rate derivatives | |||
Liabilities | |||
Trading liabilities | 230 | 317 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | |||
Liabilities | |||
Trading liabilities | 159 | 100 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | |||
Liabilities | |||
Trading liabilities | 900 | 898 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Equity/Index-related products | |||
Liabilities | |||
Trading liabilities | SFr 1,129 | SFr 1,301 |
FI - Roll-forward of assets mea
FI - Roll-forward of assets measured at fair value on recurring basis (Details 4) - Recurring basis - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2018 | Jun. 30, 2017 | |
Interest-bearing deposits with banks | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | SFr 1 | ||
Transfers in, assets | 39 | ||
Transfers out, assets | 0 | ||
Purchases, assets | 0 | ||
Sales, assets | 0 | ||
Issuances, assets | 0 | ||
Settlements, assets | 0 | ||
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | ||
Gain (loss) on all other activity included in trading revenues, assets | (1) | ||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | ||
Gain (loss) on all other activity included in other revenues, assets | 0 | ||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | ||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | ||
Foreign currency translation impact, assets | 0 | ||
Balance at end of period, assets | 39 | ||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 174 | ||
Transfers in, assets | 0 | ||
Transfers out, assets | 0 | ||
Purchases, assets | 0 | ||
Sales, assets | 0 | ||
Issuances, assets | 26 | ||
Settlements, assets | (195) | ||
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | ||
Gain (loss) on all other activity included in trading revenues, assets | 0 | ||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | ||
Gain (loss) on all other activity included in other revenues, assets | 0 | ||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | ||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | ||
Foreign currency translation impact, assets | (5) | ||
Balance at end of period, assets | 0 | ||
Securities received as collateral | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | SFr 46 | 70 | |
Transfers in, assets | 0 | 3 | |
Transfers out, assets | (15) | (1) | |
Purchases, assets | 58 | 31 | |
Sales, assets | (80) | (87) | |
Issuances, assets | 0 | 0 | |
Settlements, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in trading revenues, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | 0 | (2) | |
Balance at end of period, assets | SFr 9 | 9 | 14 |
Trading assets | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 8,754 | 12,765 | |
Transfers in, assets | 743 | 605 | |
Transfers out, assets | (691) | (1,281) | |
Purchases, assets | 24,069 | 8,253 | |
Sales, assets | (25,099) | (10,910) | |
Issuances, assets | 786 | 503 | |
Settlements, assets | (669) | (1,077) | |
Gain (loss) on transfers in/out included in trading revenues, assets | (37) | 99 | |
Gain (loss) on all other activity included in trading revenues, assets | (280) | 117 | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | (4) | 6 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | 23 | (711) | |
Balance at end of period, assets | 7,595 | 7,595 | 8,369 |
Trading assets | Debt securities | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 2,292 | 3,977 | |
Transfers in, assets | 514 | 326 | |
Transfers out, assets | (425) | (555) | |
Purchases, assets | 1,503 | 1,447 | |
Sales, assets | (1,540) | (2,764) | |
Issuances, assets | 0 | 0 | |
Settlements, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in trading revenues, assets | (10) | (7) | |
Gain (loss) on all other activity included in trading revenues, assets | (165) | (97) | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | (4) | 6 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | (4) | (223) | |
Balance at end of period, assets | 2,161 | 2,161 | 2,110 |
Trading assets | Debt securities | Corporate debt securities | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 1,412 | 1,674 | |
Transfers in, assets | 305 | 113 | |
Transfers out, assets | (279) | (279) | |
Purchases, assets | 1,181 | 1,040 | |
Sales, assets | (1,289) | (1,390) | |
Issuances, assets | 0 | 0 | |
Settlements, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in trading revenues, assets | (9) | (6) | |
Gain (loss) on all other activity included in trading revenues, assets | (97) | (40) | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | (4) | 4 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | 13 | (117) | |
Balance at end of period, assets | 1,233 | 1,233 | 999 |
Trading assets | Debt securities | RMBS | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 320 | 605 | |
Transfers in, assets | 161 | 189 | |
Transfers out, assets | (120) | (130) | |
Purchases, assets | 289 | 64 | |
Sales, assets | (146) | (206) | |
Issuances, assets | 0 | 0 | |
Settlements, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in trading revenues, assets | (1) | 2 | |
Gain (loss) on all other activity included in trading revenues, assets | (64) | (62) | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | 7 | (31) | |
Balance at end of period, assets | 446 | 446 | 431 |
Trading assets | Debt securities | CMBS | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 16 | 65 | |
Transfers in, assets | 20 | 4 | |
Transfers out, assets | (1) | (15) | |
Purchases, assets | 3 | 0 | |
Sales, assets | (13) | (11) | |
Issuances, assets | 0 | 0 | |
Settlements, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | (3) | |
Gain (loss) on all other activity included in trading revenues, assets | (5) | (2) | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | 0 | (3) | |
Balance at end of period, assets | 20 | 20 | 35 |
Trading assets | Debt securities | Collateralized debt obligations | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 126 | 1,165 | |
Transfers in, assets | 14 | 14 | |
Transfers out, assets | (13) | (114) | |
Purchases, assets | 16 | 132 | |
Sales, assets | (36) | (965) | |
Issuances, assets | 0 | 0 | |
Settlements, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in trading revenues, assets | (1) | (17) | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | 2 | (37) | |
Balance at end of period, assets | 108 | 108 | 178 |
Trading assets | Equity securities | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 163 | 240 | |
Transfers in, assets | 40 | 15 | |
Transfers out, assets | (22) | (18) | |
Purchases, assets | 39 | 32 | |
Sales, assets | (81) | (124) | |
Issuances, assets | 0 | 0 | |
Settlements, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in trading revenues, assets | (3) | 0 | |
Gain (loss) on all other activity included in trading revenues, assets | 45 | 2 | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | (1) | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | 2 | (12) | |
Balance at end of period, assets | 182 | 182 | 135 |
Trading assets | Derivative instruments | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 3,289 | 4,305 | |
Transfers in, assets | 167 | 215 | |
Transfers out, assets | (182) | (657) | |
Purchases, assets | 0 | 0 | |
Sales, assets | 0 | 0 | |
Issuances, assets | 786 | 503 | |
Settlements, assets | (651) | (856) | |
Gain (loss) on transfers in/out included in trading revenues, assets | (26) | 103 | |
Gain (loss) on all other activity included in trading revenues, assets | (267) | (50) | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | 0 | (252) | |
Balance at end of period, assets | 3,116 | 3,116 | 3,311 |
Trading assets | Derivative instruments | Interest rate derivatives | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 801 | 748 | |
Transfers in, assets | 11 | 4 | |
Transfers out, assets | (22) | (32) | |
Purchases, assets | 0 | 0 | |
Sales, assets | 0 | 0 | |
Issuances, assets | 61 | 90 | |
Settlements, assets | (45) | (102) | |
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | 5 | |
Gain (loss) on all other activity included in trading revenues, assets | (92) | 34 | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | (7) | (33) | |
Balance at end of period, assets | 707 | 707 | 714 |
Trading assets | Derivative instruments | Equity/Index-related products | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 833 | 914 | |
Transfers in, assets | 108 | 85 | |
Transfers out, assets | (115) | (45) | |
Purchases, assets | 0 | 0 | |
Sales, assets | 0 | 0 | |
Issuances, assets | 242 | 191 | |
Settlements, assets | (234) | (320) | |
Gain (loss) on transfers in/out included in trading revenues, assets | (17) | 9 | |
Gain (loss) on all other activity included in trading revenues, assets | (56) | 38 | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | (14) | (59) | |
Balance at end of period, assets | 747 | 747 | 813 |
Trading assets | Derivative instruments | Credit derivatives | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 634 | 688 | |
Transfers in, assets | 45 | 126 | |
Transfers out, assets | (44) | (188) | |
Purchases, assets | 0 | 0 | |
Sales, assets | 0 | 0 | |
Issuances, assets | 310 | 40 | |
Settlements, assets | (130) | (161) | |
Gain (loss) on transfers in/out included in trading revenues, assets | (6) | 25 | |
Gain (loss) on all other activity included in trading revenues, assets | (77) | (38) | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | 13 | (38) | |
Balance at end of period, assets | 745 | 745 | 454 |
Trading assets | Other | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 3,010 | 4,243 | |
Transfers in, assets | 22 | 49 | |
Transfers out, assets | (62) | (51) | |
Purchases, assets | 22,527 | 6,774 | |
Sales, assets | (23,478) | (8,022) | |
Issuances, assets | 0 | 0 | |
Settlements, assets | (18) | (221) | |
Gain (loss) on transfers in/out included in trading revenues, assets | 2 | 3 | |
Gain (loss) on all other activity included in trading revenues, assets | 107 | 262 | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | 1 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | 25 | (224) | |
Balance at end of period, assets | 2,136 | 2,136 | 2,813 |
Investment securities | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 42 | 72 | |
Transfers in, assets | 0 | 0 | |
Transfers out, assets | (4) | (16) | |
Purchases, assets | 153 | 64 | |
Sales, assets | (28) | (80) | |
Issuances, assets | 0 | 0 | |
Settlements, assets | (157) | (67) | |
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | (1) | |
Gain (loss) on all other activity included in trading revenues, assets | 143 | 68 | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | 4 | (4) | |
Balance at end of period, assets | 153 | 153 | 36 |
Other investments | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 1,601 | 1,906 | |
Transfers in, assets | 0 | 0 | |
Transfers out, assets | (110) | 0 | |
Purchases, assets | 136 | 194 | |
Sales, assets | (236) | (361) | |
Issuances, assets | 0 | 0 | |
Settlements, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in trading revenues, assets | (53) | 10 | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | 2 | 23 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | 8 | (115) | |
Balance at end of period, assets | 1,348 | 1,348 | 1,657 |
Other investments | Life finance instruments | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 1,301 | 1,588 | |
Transfers in, assets | 0 | 0 | |
Transfers out, assets | 0 | 0 | |
Purchases, assets | 87 | 96 | |
Sales, assets | (152) | (245) | |
Issuances, assets | 0 | 0 | |
Settlements, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in trading revenues, assets | (52) | 22 | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | 17 | (96) | |
Balance at end of period, assets | 1,201 | 1,201 | 1,365 |
Other investments | Equity securities | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 300 | 318 | |
Transfers in, assets | 0 | 0 | |
Transfers out, assets | (110) | 0 | |
Purchases, assets | 49 | 98 | |
Sales, assets | (84) | (116) | |
Issuances, assets | 0 | 0 | |
Settlements, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in trading revenues, assets | (1) | (12) | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | 2 | 23 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | (9) | (19) | |
Balance at end of period, assets | 147 | 147 | 292 |
Loans | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 4,530 | 6,585 | |
Transfers in, assets | 493 | 491 | |
Transfers out, assets | (30) | (372) | |
Purchases, assets | 32 | 54 | |
Sales, assets | (187) | (487) | |
Issuances, assets | 824 | 631 | |
Settlements, assets | (1,403) | (1,418) | |
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | (19) | |
Gain (loss) on all other activity included in trading revenues, assets | (103) | 114 | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | 28 | (367) | |
Balance at end of period, assets | 4,184 | 4,184 | 5,212 |
Commercial and industrial loans | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 2,207 | 3,816 | |
Transfers in, assets | 57 | 216 | |
Transfers out, assets | (25) | (103) | |
Purchases, assets | 0 | 51 | |
Sales, assets | (30) | (321) | |
Issuances, assets | 366 | 250 | |
Settlements, assets | (707) | (1,033) | |
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | (7) | |
Gain (loss) on all other activity included in trading revenues, assets | (22) | 76 | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | 13 | (198) | |
Balance at end of period, assets | 1,859 | 1,859 | 2,747 |
Financial institutions | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 1,480 | 1,829 | |
Transfers in, assets | 321 | 275 | |
Transfers out, assets | (5) | (9) | |
Purchases, assets | 31 | 3 | |
Sales, assets | (36) | (162) | |
Issuances, assets | 286 | 349 | |
Settlements, assets | (634) | (335) | |
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in trading revenues, assets | (25) | (10) | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | 8 | (110) | |
Balance at end of period, assets | 1,426 | 1,426 | 1,830 |
Other intangible assets | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 158 | 138 | |
Transfers in, assets | 0 | 0 | |
Transfers out, assets | 0 | 0 | |
Purchases, assets | 0 | 1 | |
Sales, assets | 0 | (1) | |
Issuances, assets | 0 | 0 | |
Settlements, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in trading revenues, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | (10) | (2) | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | 3 | (8) | |
Balance at end of period, assets | 151 | 151 | 128 |
Other assets | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 1,511 | 1,679 | |
Transfers in, assets | 201 | 100 | |
Transfers out, assets | (56) | (37) | |
Purchases, assets | 681 | 346 | |
Sales, assets | (716) | (562) | |
Issuances, assets | 142 | 1,010 | |
Settlements, assets | (130) | (95) | |
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | (2) | |
Gain (loss) on all other activity included in trading revenues, assets | (19) | (123) | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | 0 | (1) | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | (54) | (139) | |
Balance at end of period, assets | 1,560 | 1,560 | 2,176 |
Other assets - of which loans held-for-sale | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 1,350 | 1,316 | |
Transfers in, assets | 174 | 55 | |
Transfers out, assets | (49) | (26) | |
Purchases, assets | 633 | 317 | |
Sales, assets | (673) | (447) | |
Issuances, assets | 142 | 1,009 | |
Settlements, assets | (130) | (95) | |
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | (2) | |
Gain (loss) on all other activity included in trading revenues, assets | (35) | (33) | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | (57) | (121) | |
Balance at end of period, assets | 1,355 | 1,355 | 1,973 |
Other assets - of which loans held-for-sale | RMBS | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Gain (loss) on all other activity included in trading revenues, assets | (22) | ||
Assets | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 16,642 | 23,390 | |
Transfers in, assets | 709 | 1,437 | 1,238 |
Transfers out, assets | (424) | (906) | (1,707) |
Purchases, assets | 25,129 | 8,943 | |
Sales, assets | (26,346) | (12,488) | |
Issuances, assets | 1,752 | 2,170 | |
Settlements, assets | (2,359) | (2,852) | |
Gain (loss) on transfers in/out included in trading revenues, assets | (37) | 77 | |
Gain (loss) on all other activity included in trading revenues, assets | (312) | 185 | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | (12) | 26 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | 12 | (1,351) | |
Balance at end of period, assets | 15,000 | 15,000 | 17,631 |
Bank | Interest-bearing deposits with banks | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 1 | ||
Transfers in, assets | 39 | ||
Transfers out, assets | 0 | ||
Purchases, assets | 0 | ||
Sales, assets | 0 | ||
Issuances, assets | 0 | ||
Settlements, assets | 0 | ||
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | ||
Gain (loss) on all other activity included in trading revenues, assets | (1) | ||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | ||
Gain (loss) on all other activity included in other revenues, assets | 0 | ||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | ||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | ||
Foreign currency translation impact, assets | 0 | ||
Balance at end of period, assets | 39 | ||
Bank | Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 174 | ||
Transfers in, assets | 0 | ||
Transfers out, assets | 0 | ||
Purchases, assets | 0 | ||
Sales, assets | 0 | ||
Issuances, assets | 26 | ||
Settlements, assets | (195) | ||
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | ||
Gain (loss) on all other activity included in trading revenues, assets | 0 | ||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | ||
Gain (loss) on all other activity included in other revenues, assets | 0 | ||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | ||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | ||
Foreign currency translation impact, assets | (5) | ||
Balance at end of period, assets | 0 | ||
Bank | Securities received as collateral | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 46 | 70 | |
Transfers in, assets | 0 | 3 | |
Transfers out, assets | (15) | (1) | |
Purchases, assets | 58 | 31 | |
Sales, assets | (80) | (86) | |
Issuances, assets | 0 | 0 | |
Settlements, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in trading revenues, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | 0 | (3) | |
Balance at end of period, assets | 9 | 9 | 14 |
Bank | Trading assets | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 8,754 | 12,765 | |
Transfers in, assets | 743 | 605 | |
Transfers out, assets | (691) | (1,281) | |
Purchases, assets | 24,069 | 8,253 | |
Sales, assets | (25,099) | (10,909) | |
Issuances, assets | 786 | 503 | |
Settlements, assets | (669) | (1,077) | |
Gain (loss) on transfers in/out included in trading revenues, assets | (37) | 99 | |
Gain (loss) on all other activity included in trading revenues, assets | (280) | 117 | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | (4) | 6 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | 23 | (712) | |
Balance at end of period, assets | 7,595 | 7,595 | 8,369 |
Bank | Trading assets | Debt securities | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 2,292 | 3,977 | |
Transfers in, assets | 514 | 326 | |
Transfers out, assets | (425) | (555) | |
Purchases, assets | 1,503 | 1,447 | |
Sales, assets | (1,540) | (2,764) | |
Issuances, assets | 0 | 0 | |
Settlements, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in trading revenues, assets | (10) | (7) | |
Gain (loss) on all other activity included in trading revenues, assets | (165) | (97) | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | (4) | 6 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | (4) | (223) | |
Balance at end of period, assets | 2,161 | 2,161 | 2,110 |
Bank | Trading assets | Debt securities | Corporate debt securities | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 1,412 | 1,674 | |
Transfers in, assets | 305 | 113 | |
Transfers out, assets | (279) | (279) | |
Purchases, assets | 1,181 | 1,040 | |
Sales, assets | (1,289) | (1,391) | |
Issuances, assets | 0 | 0 | |
Settlements, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in trading revenues, assets | (9) | (6) | |
Gain (loss) on all other activity included in trading revenues, assets | (97) | (40) | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | (4) | 4 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | 13 | (116) | |
Balance at end of period, assets | 1,233 | 1,233 | 999 |
Bank | Trading assets | Debt securities | RMBS | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 320 | 605 | |
Transfers in, assets | 161 | 189 | |
Transfers out, assets | (120) | (130) | |
Purchases, assets | 289 | 64 | |
Sales, assets | (146) | (206) | |
Issuances, assets | 0 | 0 | |
Settlements, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in trading revenues, assets | (1) | 2 | |
Gain (loss) on all other activity included in trading revenues, assets | (64) | (62) | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | 7 | (31) | |
Balance at end of period, assets | 446 | 446 | 431 |
Bank | Trading assets | Debt securities | CMBS | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 16 | 65 | |
Transfers in, assets | 20 | 4 | |
Transfers out, assets | (1) | (14) | |
Purchases, assets | 3 | 0 | |
Sales, assets | (13) | (11) | |
Issuances, assets | 0 | 0 | |
Settlements, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | (3) | |
Gain (loss) on all other activity included in trading revenues, assets | (5) | (2) | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | 0 | (4) | |
Balance at end of period, assets | 20 | 20 | 35 |
Bank | Trading assets | Debt securities | Collateralized debt obligations | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 126 | 1,165 | |
Transfers in, assets | 14 | 14 | |
Transfers out, assets | (13) | (114) | |
Purchases, assets | 16 | 132 | |
Sales, assets | (36) | (965) | |
Issuances, assets | 0 | 0 | |
Settlements, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in trading revenues, assets | (1) | (17) | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | 2 | (37) | |
Balance at end of period, assets | 108 | 108 | 178 |
Bank | Trading assets | Equity securities | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 163 | 240 | |
Transfers in, assets | 40 | 15 | |
Transfers out, assets | (22) | (18) | |
Purchases, assets | 39 | 32 | |
Sales, assets | (81) | (123) | |
Issuances, assets | 0 | 0 | |
Settlements, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in trading revenues, assets | (3) | 0 | |
Gain (loss) on all other activity included in trading revenues, assets | 45 | 2 | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | (1) | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | 2 | (13) | |
Balance at end of period, assets | 182 | 182 | 135 |
Bank | Trading assets | Derivative instruments | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 3,289 | 4,305 | |
Transfers in, assets | 167 | 215 | |
Transfers out, assets | (182) | (657) | |
Purchases, assets | 0 | 0 | |
Sales, assets | 0 | 0 | |
Issuances, assets | 786 | 503 | |
Settlements, assets | (651) | (857) | |
Gain (loss) on transfers in/out included in trading revenues, assets | (26) | 103 | |
Gain (loss) on all other activity included in trading revenues, assets | (267) | (50) | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | 0 | (251) | |
Balance at end of period, assets | 3,116 | 3,116 | 3,311 |
Bank | Trading assets | Derivative instruments | Interest rate derivatives | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 801 | 748 | |
Transfers in, assets | 11 | 4 | |
Transfers out, assets | (22) | (32) | |
Purchases, assets | 0 | 0 | |
Sales, assets | 0 | 0 | |
Issuances, assets | 61 | 90 | |
Settlements, assets | (45) | (101) | |
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | 5 | |
Gain (loss) on all other activity included in trading revenues, assets | (92) | 34 | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | (7) | (34) | |
Balance at end of period, assets | 707 | 707 | 714 |
Bank | Trading assets | Derivative instruments | Equity/Index-related products | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 833 | 914 | |
Transfers in, assets | 108 | 85 | |
Transfers out, assets | (115) | (45) | |
Purchases, assets | 0 | 0 | |
Sales, assets | 0 | 0 | |
Issuances, assets | 242 | 191 | |
Settlements, assets | (234) | (321) | |
Gain (loss) on transfers in/out included in trading revenues, assets | (17) | 9 | |
Gain (loss) on all other activity included in trading revenues, assets | (56) | 38 | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | (14) | (58) | |
Balance at end of period, assets | 747 | 747 | 813 |
Bank | Trading assets | Derivative instruments | Credit derivatives | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 634 | 688 | |
Transfers in, assets | 45 | 126 | |
Transfers out, assets | (44) | (188) | |
Purchases, assets | 0 | 0 | |
Sales, assets | 0 | 0 | |
Issuances, assets | 310 | 40 | |
Settlements, assets | (130) | (160) | |
Gain (loss) on transfers in/out included in trading revenues, assets | (6) | 25 | |
Gain (loss) on all other activity included in trading revenues, assets | (77) | (38) | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | 13 | (39) | |
Balance at end of period, assets | 745 | 745 | 454 |
Bank | Trading assets | Other | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 3,010 | 4,243 | |
Transfers in, assets | 22 | 49 | |
Transfers out, assets | (62) | (51) | |
Purchases, assets | 22,527 | 6,774 | |
Sales, assets | (23,478) | (8,022) | |
Issuances, assets | 0 | 0 | |
Settlements, assets | (18) | (220) | |
Gain (loss) on transfers in/out included in trading revenues, assets | 2 | 3 | |
Gain (loss) on all other activity included in trading revenues, assets | 107 | 262 | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | 1 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | 25 | (225) | |
Balance at end of period, assets | 2,136 | 2,136 | 2,813 |
Bank | Investment securities | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 42 | 72 | |
Transfers in, assets | 0 | 0 | |
Transfers out, assets | (4) | (16) | |
Purchases, assets | 153 | 64 | |
Sales, assets | (28) | (80) | |
Issuances, assets | 0 | 0 | |
Settlements, assets | (157) | (67) | |
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | (1) | |
Gain (loss) on all other activity included in trading revenues, assets | 143 | 68 | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | 4 | (4) | |
Balance at end of period, assets | 153 | 153 | 36 |
Bank | Other investments | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 1,601 | 1,906 | |
Transfers in, assets | 0 | 0 | |
Transfers out, assets | (109) | 0 | |
Purchases, assets | 135 | 185 | |
Sales, assets | (236) | (350) | |
Issuances, assets | 0 | 0 | |
Settlements, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in trading revenues, assets | (53) | 10 | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | 2 | 23 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | 8 | (117) | |
Balance at end of period, assets | 1,348 | 1,348 | 1,657 |
Bank | Other investments | Life finance instruments | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 1,301 | 1,588 | |
Transfers in, assets | 0 | 0 | |
Transfers out, assets | 0 | 0 | |
Purchases, assets | 87 | 96 | |
Sales, assets | (152) | (244) | |
Issuances, assets | 0 | 0 | |
Settlements, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in trading revenues, assets | (52) | 22 | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | 17 | (97) | |
Balance at end of period, assets | 1,201 | 1,201 | 1,365 |
Bank | Other investments | Equity securities | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 300 | 318 | |
Transfers in, assets | 0 | 0 | |
Transfers out, assets | (109) | 0 | |
Purchases, assets | 48 | 89 | |
Sales, assets | (84) | (106) | |
Issuances, assets | 0 | 0 | |
Settlements, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in trading revenues, assets | (1) | (12) | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | 2 | 23 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | (9) | (20) | |
Balance at end of period, assets | 147 | 147 | 292 |
Bank | Loans | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 4,530 | 6,585 | |
Transfers in, assets | 493 | 491 | |
Transfers out, assets | (30) | (372) | |
Purchases, assets | 32 | 54 | |
Sales, assets | (187) | (487) | |
Issuances, assets | 824 | 631 | |
Settlements, assets | (1,403) | (1,419) | |
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | (19) | |
Gain (loss) on all other activity included in trading revenues, assets | (103) | 114 | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | 28 | (366) | |
Balance at end of period, assets | 4,184 | 4,184 | 5,212 |
Bank | Commercial and industrial loans | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 2,207 | 3,816 | |
Transfers in, assets | 57 | 216 | |
Transfers out, assets | (25) | (103) | |
Purchases, assets | 0 | 51 | |
Sales, assets | (30) | (321) | |
Issuances, assets | 366 | 250 | |
Settlements, assets | (707) | (1,033) | |
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | (7) | |
Gain (loss) on all other activity included in trading revenues, assets | (22) | 76 | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | 13 | (198) | |
Balance at end of period, assets | 1,859 | 1,859 | 2,747 |
Bank | Financial institutions | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 1,480 | 1,829 | |
Transfers in, assets | 321 | 275 | |
Transfers out, assets | (5) | (9) | |
Purchases, assets | 31 | 3 | |
Sales, assets | (36) | (162) | |
Issuances, assets | 286 | 349 | |
Settlements, assets | (634) | (337) | |
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in trading revenues, assets | (25) | (10) | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | 8 | (108) | |
Balance at end of period, assets | 1,426 | 1,426 | 1,830 |
Bank | Other intangible assets | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 158 | 138 | |
Transfers in, assets | 0 | 0 | |
Transfers out, assets | 0 | 0 | |
Purchases, assets | 0 | 1 | |
Sales, assets | 0 | (1) | |
Issuances, assets | 0 | 0 | |
Settlements, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in trading revenues, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | (10) | (2) | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | 3 | (8) | |
Balance at end of period, assets | 151 | 151 | 128 |
Bank | Other assets | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 1,511 | 1,679 | |
Transfers in, assets | 201 | 100 | |
Transfers out, assets | (56) | (37) | |
Purchases, assets | 681 | 346 | |
Sales, assets | (716) | (562) | |
Issuances, assets | 142 | 1,008 | |
Settlements, assets | (130) | (95) | |
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | (2) | |
Gain (loss) on all other activity included in trading revenues, assets | (19) | (123) | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | 0 | (1) | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | (54) | (137) | |
Balance at end of period, assets | 1,560 | 1,560 | 2,176 |
Bank | Other assets - of which loans held-for-sale | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 1,350 | 1,316 | |
Transfers in, assets | 174 | 55 | |
Transfers out, assets | (49) | (26) | |
Purchases, assets | 633 | 317 | |
Sales, assets | (673) | (447) | |
Issuances, assets | 142 | 1,008 | |
Settlements, assets | (130) | (95) | |
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | (2) | |
Gain (loss) on all other activity included in trading revenues, assets | (35) | (33) | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | (57) | (120) | |
Balance at end of period, assets | 1,355 | 1,355 | 1,973 |
Bank | Other assets - of which loans held-for-sale | RMBS | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Gain (loss) on all other activity included in trading revenues, assets | (22) | ||
Bank | Assets | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 16,642 | 23,390 | |
Transfers in, assets | 1,437 | 1,238 | |
Transfers out, assets | (905) | (1,707) | |
Purchases, assets | 25,128 | 8,934 | |
Sales, assets | (26,346) | (12,475) | |
Issuances, assets | 1,752 | 2,168 | |
Settlements, assets | (2,359) | (2,853) | |
Gain (loss) on transfers in/out included in trading revenues, assets | (37) | 77 | |
Gain (loss) on all other activity included in trading revenues, assets | (312) | 185 | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | (12) | 26 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | 12 | (1,352) | |
Balance at end of period, assets | SFr 15,000 | SFr 15,000 | SFr 17,631 |
FI - Roll-forward of liabilitie
FI - Roll-forward of liabilities measured at fair value on recurring basis (Details 5) - Recurring basis - CHF (SFr) SFr in Millions | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Due to banks and customer deposits | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | SFr 455 | SFr 410 |
Transfers in, liabilities | 0 | 0 |
Transfers out, liabilities | 0 | 0 |
Purchases, liabilities | 0 | 0 |
Sales, liabilities | 0 | 0 |
Issuances, liabilities | 0 | 26 |
Settlements, liabilities | 0 | 0 |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 0 | 0 |
Gain (loss) on all other activity included in trading revenues, liabilities | 41 | (10) |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | 0 |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | 0 |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | (21) | 13 |
Foreign currency translation impact, liabilities | (9) | (6) |
Balance at end of period, liabilities | 466 | 433 |
Obligation to return securities received as collateral | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 46 | 70 |
Transfers in, liabilities | 0 | 3 |
Transfers out, liabilities | (15) | (1) |
Purchases, liabilities | 58 | 31 |
Sales, liabilities | (80) | (87) |
Issuances, liabilities | 0 | 0 |
Settlements, liabilities | 0 | 0 |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 0 | 0 |
Gain (loss) on all other activity included in trading revenues, liabilities | 0 | 0 |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | 0 |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | 0 |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | 0 |
Foreign currency translation impact, liabilities | 0 | (2) |
Balance at end of period, liabilities | 9 | 14 |
Trading Liabilities | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 3,226 | 3,737 |
Transfers in, liabilities | 226 | 217 |
Transfers out, liabilities | (288) | (732) |
Purchases, liabilities | 69 | 81 |
Sales, liabilities | (35) | (80) |
Issuances, liabilities | 926 | 569 |
Settlements, liabilities | (787) | (994) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | (1) | 79 |
Gain (loss) on all other activity included in trading revenues, liabilities | (322) | 23 |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 |
Gain (loss) on all other activity included in other revenues, liabilities | (2) | 5 |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | 0 |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | 0 |
Foreign currency translation impact, liabilities | 31 | (225) |
Balance at end of period, liabilities | 3,043 | 2,680 |
Trading Liabilities | Interest rate derivatives | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 317 | 538 |
Transfers in, liabilities | 13 | 6 |
Transfers out, liabilities | (5) | (30) |
Purchases, liabilities | 0 | 0 |
Sales, liabilities | 0 | 0 |
Issuances, liabilities | 120 | 13 |
Settlements, liabilities | (87) | (229) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 5 | 3 |
Gain (loss) on all other activity included in trading revenues, liabilities | (135) | (6) |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | 0 |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | 0 |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | 0 |
Foreign currency translation impact, liabilities | 2 | (25) |
Balance at end of period, liabilities | 230 | 270 |
Trading Liabilities | Foreign exchange derivatives | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 100 | 150 |
Transfers in, liabilities | 19 | 10 |
Transfers out, liabilities | (1) | (1) |
Purchases, liabilities | 0 | 0 |
Sales, liabilities | 0 | 0 |
Issuances, liabilities | 44 | 5 |
Settlements, liabilities | (4) | (4) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 0 | 0 |
Gain (loss) on all other activity included in trading revenues, liabilities | (1) | (57) |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | 0 |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | 0 |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | 0 |
Foreign currency translation impact, liabilities | 2 | (8) |
Balance at end of period, liabilities | 159 | 95 |
Trading Liabilities | Equity/Index-related products | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 1,301 | 1,181 |
Transfers in, liabilities | 84 | 12 |
Transfers out, liabilities | (170) | (81) |
Purchases, liabilities | 0 | 0 |
Sales, liabilities | 0 | 0 |
Issuances, liabilities | 328 | 321 |
Settlements, liabilities | (339) | (410) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | (7) | (3) |
Gain (loss) on all other activity included in trading revenues, liabilities | (76) | 117 |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | 0 |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | 0 |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | 0 |
Foreign currency translation impact, liabilities | 8 | (76) |
Balance at end of period, liabilities | 1,129 | 1,061 |
Trading Liabilities | Credit derivatives | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 898 | 851 |
Transfers in, liabilities | 72 | 143 |
Transfers out, liabilities | (106) | (226) |
Purchases, liabilities | 0 | 0 |
Sales, liabilities | 0 | 0 |
Issuances, liabilities | 309 | 103 |
Settlements, liabilities | (222) | (175) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 4 | 17 |
Gain (loss) on all other activity included in trading revenues, liabilities | (70) | (41) |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | 0 |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | 0 |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | 0 |
Foreign currency translation impact, liabilities | 15 | (50) |
Balance at end of period, liabilities | 900 | 622 |
Short-term borrowings | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 845 | 516 |
Transfers in, liabilities | 133 | 89 |
Transfers out, liabilities | (55) | (22) |
Purchases, liabilities | 0 | 0 |
Sales, liabilities | 0 | 0 |
Issuances, liabilities | 1,474 | 332 |
Settlements, liabilities | (739) | (277) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | (1) | (2) |
Gain (loss) on all other activity included in trading revenues, liabilities | (55) | 9 |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 |
Gain (loss) on all other activity included in other revenues, liabilities | (5) | 8 |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | 0 |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 36 | 0 |
Foreign currency translation impact, liabilities | 32 | (33) |
Balance at end of period, liabilities | 1,665 | 620 |
Long-term debt | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 12,501 | 13,415 |
Transfers in, liabilities | 2,035 | 744 |
Transfers out, liabilities | (1,794) | (1,623) |
Purchases, liabilities | 0 | 0 |
Sales, liabilities | 0 | 0 |
Issuances, liabilities | 2,538 | 2,289 |
Settlements, liabilities | (2,014) | (1,785) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 3 | 45 |
Gain (loss) on all other activity included in trading revenues, liabilities | (382) | 718 |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | 0 |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | (2) | 12 |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | (128) | 124 |
Foreign currency translation impact, liabilities | 206 | (943) |
Balance at end of period, liabilities | 12,963 | 12,996 |
Long-term debt | Long-term debt - of which structured notes over two years | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 12,259 | 12,434 |
Transfers in, liabilities | 1,721 | 603 |
Transfers out, liabilities | (1,728) | (1,533) |
Purchases, liabilities | 0 | 0 |
Sales, liabilities | 0 | 0 |
Issuances, liabilities | 1,927 | 1,936 |
Settlements, liabilities | (1,721) | (1,496) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 4 | 45 |
Gain (loss) on all other activity included in trading revenues, liabilities | (370) | 726 |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | 0 |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | (2) | 12 |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | (129) | 124 |
Foreign currency translation impact, liabilities | 194 | (879) |
Balance at end of period, liabilities | 12,155 | 11,972 |
Other liabilities | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 1,478 | 1,684 |
Transfers in, liabilities | 19 | 72 |
Transfers out, liabilities | (29) | (31) |
Purchases, liabilities | 7 | 117 |
Sales, liabilities | (115) | (170) |
Issuances, liabilities | 0 | 7 |
Settlements, liabilities | (356) | (364) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | (6) | (18) |
Gain (loss) on all other activity included in trading revenues, liabilities | (23) | (25) |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 |
Gain (loss) on all other activity included in other revenues, liabilities | 111 | 174 |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | 0 |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | 0 |
Foreign currency translation impact, liabilities | 10 | (91) |
Balance at end of period, liabilities | 1,096 | 1,355 |
Other liabilities | Other liabilities - of which failed sales | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 223 | 219 |
Transfers in, liabilities | 12 | 20 |
Transfers out, liabilities | (26) | (13) |
Purchases, liabilities | 2 | 106 |
Sales, liabilities | (107) | (131) |
Issuances, liabilities | 0 | 0 |
Settlements, liabilities | 0 | 0 |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 0 | (1) |
Gain (loss) on all other activity included in trading revenues, liabilities | (6) | 12 |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | 0 |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | 0 |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | 0 |
Foreign currency translation impact, liabilities | 1 | (13) |
Balance at end of period, liabilities | 99 | 199 |
Liabilities | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 18,551 | 19,832 |
Transfers in, liabilities | 2,413 | 1,125 |
Transfers out, liabilities | (2,181) | (2,409) |
Purchases, liabilities | 134 | 229 |
Sales, liabilities | (230) | (337) |
Issuances, liabilities | 4,938 | 3,223 |
Settlements, liabilities | (3,896) | (3,420) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | (5) | 104 |
Gain (loss) on all other activity included in trading revenues, liabilities | (741) | 715 |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 |
Gain (loss) on all other activity included in other revenues, liabilities | 104 | 187 |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | (2) | 12 |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | (113) | 137 |
Foreign currency translation impact, liabilities | 270 | (1,300) |
Balance at end of period, liabilities | 19,242 | 18,098 |
Bank | Due to banks and customer deposits | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 455 | 410 |
Transfers in, liabilities | 0 | 0 |
Transfers out, liabilities | 0 | 0 |
Purchases, liabilities | 0 | 0 |
Sales, liabilities | 0 | 0 |
Issuances, liabilities | 0 | 26 |
Settlements, liabilities | 0 | 0 |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 0 | 0 |
Gain (loss) on all other activity included in trading revenues, liabilities | 41 | (10) |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | 0 |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | 0 |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | (21) | 13 |
Foreign currency translation impact, liabilities | (9) | (6) |
Balance at end of period, liabilities | 466 | 433 |
Bank | Obligation to return securities received as collateral | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 46 | 70 |
Transfers in, liabilities | 0 | 3 |
Transfers out, liabilities | (15) | (1) |
Purchases, liabilities | 58 | 31 |
Sales, liabilities | (80) | (86) |
Issuances, liabilities | 0 | 0 |
Settlements, liabilities | 0 | 0 |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 0 | 0 |
Gain (loss) on all other activity included in trading revenues, liabilities | 0 | 0 |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | 0 |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | 0 |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | 0 |
Foreign currency translation impact, liabilities | 0 | (3) |
Balance at end of period, liabilities | 9 | 14 |
Bank | Trading Liabilities | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 3,226 | 3,737 |
Transfers in, liabilities | 226 | 217 |
Transfers out, liabilities | (288) | (733) |
Purchases, liabilities | 69 | 81 |
Sales, liabilities | (35) | (80) |
Issuances, liabilities | 926 | 569 |
Settlements, liabilities | (787) | (994) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | (1) | 79 |
Gain (loss) on all other activity included in trading revenues, liabilities | (322) | 23 |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 |
Gain (loss) on all other activity included in other revenues, liabilities | (2) | 5 |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | 0 |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | 0 |
Foreign currency translation impact, liabilities | 31 | (224) |
Balance at end of period, liabilities | 3,043 | 2,680 |
Bank | Trading Liabilities | Interest rate derivatives | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 317 | 538 |
Transfers in, liabilities | 13 | 6 |
Transfers out, liabilities | (5) | (30) |
Purchases, liabilities | 0 | 0 |
Sales, liabilities | 0 | 0 |
Issuances, liabilities | 120 | 13 |
Settlements, liabilities | (87) | (228) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 5 | 3 |
Gain (loss) on all other activity included in trading revenues, liabilities | (135) | (6) |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | 0 |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | 0 |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | 0 |
Foreign currency translation impact, liabilities | 2 | (26) |
Balance at end of period, liabilities | 230 | 270 |
Bank | Trading Liabilities | Foreign exchange derivatives | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 100 | 150 |
Transfers in, liabilities | 19 | 10 |
Transfers out, liabilities | (1) | (1) |
Purchases, liabilities | 0 | 0 |
Sales, liabilities | 0 | 0 |
Issuances, liabilities | 44 | 5 |
Settlements, liabilities | (4) | (4) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 0 | 0 |
Gain (loss) on all other activity included in trading revenues, liabilities | (1) | (59) |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | 0 |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | 0 |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | 0 |
Foreign currency translation impact, liabilities | 2 | (6) |
Balance at end of period, liabilities | 159 | 95 |
Bank | Trading Liabilities | Equity/Index-related products | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 1,301 | 1,181 |
Transfers in, liabilities | 84 | 12 |
Transfers out, liabilities | (170) | (81) |
Purchases, liabilities | 0 | 0 |
Sales, liabilities | 0 | 0 |
Issuances, liabilities | 328 | 321 |
Settlements, liabilities | (339) | (411) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | (7) | (3) |
Gain (loss) on all other activity included in trading revenues, liabilities | (76) | 117 |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | 0 |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | 0 |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | 0 |
Foreign currency translation impact, liabilities | 8 | (75) |
Balance at end of period, liabilities | 1,129 | 1,061 |
Bank | Trading Liabilities | Credit derivatives | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 898 | 851 |
Transfers in, liabilities | 72 | 143 |
Transfers out, liabilities | (106) | (225) |
Purchases, liabilities | 0 | 0 |
Sales, liabilities | 0 | 0 |
Issuances, liabilities | 309 | 103 |
Settlements, liabilities | (222) | (175) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 4 | 17 |
Gain (loss) on all other activity included in trading revenues, liabilities | (70) | (41) |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | 0 |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | 0 |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | 0 |
Foreign currency translation impact, liabilities | 15 | (51) |
Balance at end of period, liabilities | 900 | 622 |
Bank | Short-term borrowings | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 845 | 516 |
Transfers in, liabilities | 133 | 89 |
Transfers out, liabilities | (55) | (22) |
Purchases, liabilities | 0 | 0 |
Sales, liabilities | 0 | 0 |
Issuances, liabilities | 1,474 | 331 |
Settlements, liabilities | (739) | (277) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | (1) | (2) |
Gain (loss) on all other activity included in trading revenues, liabilities | (55) | 9 |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 |
Gain (loss) on all other activity included in other revenues, liabilities | (5) | 8 |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | 0 |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 36 | 0 |
Foreign currency translation impact, liabilities | 32 | (32) |
Balance at end of period, liabilities | 1,665 | 620 |
Bank | Long-term debt | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 12,501 | 13,415 |
Transfers in, liabilities | 1,921 | 744 |
Transfers out, liabilities | (1,794) | (1,623) |
Purchases, liabilities | 0 | 0 |
Sales, liabilities | 0 | 0 |
Issuances, liabilities | 2,669 | 2,290 |
Settlements, liabilities | (2,014) | (1,785) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 3 | 45 |
Gain (loss) on all other activity included in trading revenues, liabilities | (402) | 718 |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | 0 |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | (2) | 12 |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | (128) | 124 |
Foreign currency translation impact, liabilities | 209 | (944) |
Balance at end of period, liabilities | 12,963 | 12,996 |
Bank | Long-term debt | Long-term debt - of which structured notes over two years | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 12,259 | 12,434 |
Transfers in, liabilities | 1,721 | 603 |
Transfers out, liabilities | (1,728) | (1,533) |
Purchases, liabilities | 0 | 0 |
Sales, liabilities | 0 | 0 |
Issuances, liabilities | 1,927 | 1,936 |
Settlements, liabilities | (1,721) | (1,496) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 4 | 45 |
Gain (loss) on all other activity included in trading revenues, liabilities | (370) | 726 |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | 0 |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | (2) | 12 |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | (129) | 124 |
Foreign currency translation impact, liabilities | 194 | (879) |
Balance at end of period, liabilities | 12,155 | 11,972 |
Bank | Other liabilities | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 1,467 | 1,679 |
Transfers in, liabilities | 19 | 72 |
Transfers out, liabilities | (29) | (31) |
Purchases, liabilities | 7 | 117 |
Sales, liabilities | (115) | (170) |
Issuances, liabilities | 0 | 7 |
Settlements, liabilities | (354) | (365) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | (6) | (18) |
Gain (loss) on all other activity included in trading revenues, liabilities | (24) | (25) |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 |
Gain (loss) on all other activity included in other revenues, liabilities | 110 | 173 |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | 0 |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | 0 |
Foreign currency translation impact, liabilities | 10 | (90) |
Balance at end of period, liabilities | 1,085 | 1,349 |
Bank | Other liabilities | Other liabilities - of which failed sales | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 223 | 219 |
Transfers in, liabilities | 12 | 20 |
Transfers out, liabilities | (26) | (13) |
Purchases, liabilities | 2 | 106 |
Sales, liabilities | (107) | (131) |
Issuances, liabilities | 0 | 0 |
Settlements, liabilities | 0 | 0 |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 0 | (1) |
Gain (loss) on all other activity included in trading revenues, liabilities | (6) | 12 |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | 0 |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | 0 |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | 0 |
Foreign currency translation impact, liabilities | 1 | (13) |
Balance at end of period, liabilities | 99 | 199 |
Bank | Liabilities | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 18,540 | 19,827 |
Transfers in, liabilities | 2,299 | 1,125 |
Transfers out, liabilities | (2,181) | (2,410) |
Purchases, liabilities | 134 | 229 |
Sales, liabilities | (230) | (336) |
Issuances, liabilities | 5,069 | 3,223 |
Settlements, liabilities | (3,894) | (3,421) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | (5) | 104 |
Gain (loss) on all other activity included in trading revenues, liabilities | (762) | 715 |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 |
Gain (loss) on all other activity included in other revenues, liabilities | 103 | 186 |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | (2) | 12 |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | (113) | 137 |
Foreign currency translation impact, liabilities | 273 | (1,299) |
Balance at end of period, liabilities | SFr 19,231 | SFr 18,092 |
FI - Roll-forward of net assets
FI - Roll-forward of net assets measured at fair value on recurring basis (Details 6) - Recurring basis - CHF (SFr) SFr in Millions | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Net assets/liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, net assets/liabilities | SFr (1,909) | SFr 3,558 |
Transfers in, net assets/liabilities | (976) | 113 |
Transfers out, net assets/liabilities | 1,275 | 702 |
Purchases, net assets/liabilities | 24,995 | 8,714 |
Sales, net assets/liabilities | (26,116) | (12,151) |
Issuances, net assets/liabilities | (3,186) | (1,053) |
Settlements, net assets/liabilities | 1,537 | 568 |
Gain (loss) on transfers in/out included in trading revenues, net assets/liabilities | (32) | (27) |
Gain (loss) on all other activity included in trading revenues, net assets/liabilities | 429 | (530) |
Gain (loss) on transfers in/out included in other revenues, net assets/liabilities | 0 | 0 |
Gain (loss) on all other activity included in other revenues, net assets/liabilities | (116) | (161) |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, net assets/liabilities | 2 | (12) |
Gain (loss) on all other activity included in accumulated other comprehensive income, net assets/liabilities | 113 | (137) |
Foreign currency translation impact, net assets/liabilities | (258) | (51) |
Balance at beginning of period, net assets/liabilities | (4,242) | (467) |
Bank | ||
Net assets/liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, net assets/liabilities | (1,898) | 3,563 |
Transfers in, net assets/liabilities | (862) | 113 |
Transfers out, net assets/liabilities | 1,276 | 703 |
Purchases, net assets/liabilities | 24,994 | 8,705 |
Sales, net assets/liabilities | (26,116) | (12,139) |
Issuances, net assets/liabilities | (3,317) | (1,055) |
Settlements, net assets/liabilities | 1,535 | 568 |
Gain (loss) on transfers in/out included in trading revenues, net assets/liabilities | (32) | (27) |
Gain (loss) on all other activity included in trading revenues, net assets/liabilities | 450 | (530) |
Gain (loss) on transfers in/out included in other revenues, net assets/liabilities | 0 | 0 |
Gain (loss) on all other activity included in other revenues, net assets/liabilities | (115) | (160) |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, net assets/liabilities | 2 | (12) |
Gain (loss) on all other activity included in accumulated other comprehensive income, net assets/liabilities | 113 | (137) |
Foreign currency translation impact, net assets/liabilities | (261) | (53) |
Balance at beginning of period, net assets/liabilities | SFr (4,231) | SFr (461) |
FI - Gains_losses on assets_lia
FI - Gains/losses on assets/liabilities using unobservable inputs (Details 7) - CHF (SFr) SFr in Millions | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Gains and losses on assets and liabilities | ||
Net realized/unrealized gains/(losses) included in net revenues | SFr 281 | SFr (718) |
Whereof: Unrealized gains/(losses) relating to assets and liabilities still held as of the reporting date | (76) | (1,096) |
Trading revenues | ||
Gains and losses on assets and liabilities | ||
Net realized/unrealized gains/(losses) included in net revenues | 397 | (557) |
Whereof: Unrealized gains/(losses) relating to assets and liabilities still held as of the reporting date | (79) | (1,107) |
Other revenues | ||
Gains and losses on assets and liabilities | ||
Net realized/unrealized gains/(losses) included in net revenues | (116) | (161) |
Whereof: Unrealized gains/(losses) relating to assets and liabilities still held as of the reporting date | 3 | 11 |
Bank | ||
Gains and losses on assets and liabilities | ||
Net realized/unrealized gains/(losses) included in net revenues | 303 | (717) |
Whereof: Unrealized gains/(losses) relating to assets and liabilities still held as of the reporting date | (77) | (1,097) |
Bank | Trading revenues | ||
Gains and losses on assets and liabilities | ||
Net realized/unrealized gains/(losses) included in net revenues | 418 | (557) |
Whereof: Unrealized gains/(losses) relating to assets and liabilities still held as of the reporting date | (79) | (1,107) |
Bank | Other revenues | ||
Gains and losses on assets and liabilities | ||
Net realized/unrealized gains/(losses) included in net revenues | (115) | (160) |
Whereof: Unrealized gains/(losses) relating to assets and liabilities still held as of the reporting date | SFr 2 | SFr 10 |
FI - Non-recurring fair value c
FI - Non-recurring fair value changes (Details 8) - Nonrecurring basis - CHF (SFr) SFr in Billions | Jun. 30, 2018 | Dec. 31, 2017 |
Assets and liabilities recorded at fair value | ||
Loans | SFr 0.1 | SFr 0.1 |
Level 2 | ||
Assets and liabilities recorded at fair value | ||
Loans | 0.1 | 0.1 |
Bank | ||
Assets and liabilities recorded at fair value | ||
Loans | 0.1 | 0.1 |
Bank | Level 2 | ||
Assets and liabilities recorded at fair value | ||
Loans | SFr 0.1 | SFr 0.1 |
FI - Difference between fair va
FI - Difference between fair value and unpaid principle balances (Details 9) - CHF (SFr) SFr in Millions | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 |
Financial instruments | |||
Cash and Due from Banks | SFr 185 | SFr 93 | SFr 212 |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 75,706 | 85,086 | 77,498 |
Loans | 15,711 | 14,717 | 15,307 |
Other assets | 9,743 | 9,931 | 9,018 |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (9,457) | (15,740) | (15,262) |
Short-term borrowings | (11,675) | (11,535) | (11,019) |
Long-term debt | (62,205) | (61,536) | (63,628) |
Other liabilities | (7,750) | SFr (8,296) | (8,624) |
Aggregate fair value | |||
Loans | |||
Non-interest-earning loans | 639 | 708 | |
Financial instruments | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 75,706 | 77,498 | |
Loans | 15,711 | 15,307 | |
Other assets | 9,102 | 8,468 | |
Due to banks and customer deposits | (819) | (907) | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (9,457) | (15,262) | |
Short-term borrowings | (11,675) | (11,019) | |
Long-term debt | (62,205) | (63,628) | |
Other liabilities | (564) | (661) | |
Aggregate unpaid principal | |||
Loans | |||
Non-interest-earning loans | 3,454 | 3,375 | |
Financial instruments | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 75,595 | 76,643 | |
Loans | 16,161 | 15,372 | |
Other assets | 11,635 | 10,910 | |
Due to banks and customer deposits | (756) | (861) | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (9,456) | (15,180) | |
Short-term borrowings | (11,960) | (11,104) | |
Long-term debt | (66,068) | (63,759) | |
Other liabilities | (1,667) | (1,716) | |
Difference | |||
Loans | |||
Non-interest-earning loans, Difference | (2,815) | (2,667) | |
Financial instruments | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 111 | 855 | |
Loans | (450) | (65) | |
Other assets | (2,533) | (2,442) | |
Due to banks and customer deposits | (63) | (46) | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (1) | (82) | |
Short-term borrowings | 285 | 85 | |
Long-term debt | 3,863 | 131 | |
Other liabilities | 1,103 | 1,055 | |
Bank | |||
Financial instruments | |||
Cash and Due from Banks | 185 | 212 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 75,706 | 77,498 | |
Loans | 15,711 | 15,307 | |
Other assets | 9,743 | 9,018 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (9,457) | (15,262) | |
Short-term borrowings | (11,675) | (11,019) | |
Long-term debt | (61,272) | (62,622) | |
Other liabilities | (7,735) | (8,590) | |
Bank | Aggregate fair value | |||
Loans | |||
Non-interest-earning loans | 639 | 708 | |
Financial instruments | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 75,706 | 77,498 | |
Loans | 15,711 | 15,307 | |
Other assets | 9,102 | 8,468 | |
Due to banks and customer deposits | (819) | (907) | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (9,457) | (15,262) | |
Short-term borrowings | (11,675) | (11,019) | |
Long-term debt | (61,272) | (62,622) | |
Other liabilities | (564) | (661) | |
Bank | Aggregate unpaid principal | |||
Loans | |||
Non-interest-earning loans | 3,454 | 3,375 | |
Financial instruments | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 75,595 | 76,643 | |
Loans | 16,161 | 15,372 | |
Other assets | 11,635 | 10,910 | |
Due to banks and customer deposits | (756) | (861) | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (9,456) | (15,180) | |
Short-term borrowings | (11,960) | (11,104) | |
Long-term debt | (65,090) | (62,813) | |
Other liabilities | (1,667) | (1,716) | |
Bank | Difference | |||
Loans | |||
Non-interest-earning loans, Difference | (2,815) | (2,667) | |
Financial instruments | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 111 | 855 | |
Loans | (450) | (65) | |
Other assets | (2,533) | (2,442) | |
Due to banks and customer deposits | (63) | (46) | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (1) | (82) | |
Short-term borrowings | 285 | 85 | |
Long-term debt | 3,818 | 191 | |
Other liabilities | SFr 1,103 | SFr 1,055 |
FI - Gains_losses on financial
FI - Gains/losses on financial instruments (Details 10) - CHF (SFr) SFr in Millions | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | |
Interest-bearing deposits with banks | |||
Gains (losses) on financial instruments | |||
Net gains/(losses) | SFr 4 | SFr 7 | |
Net gains/(losses) of which related to credit risk - on assets | (3) | 0 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | |||
Gains (losses) on financial instruments | |||
Net gains/(losses) | 653 | 852 | |
Other investments | |||
Gains (losses) on financial instruments | |||
Net gains/(losses) | 200 | 130 | |
Net gains/(losses) of which related to credit risk - on assets | (1) | 2 | |
Loans | |||
Gains (losses) on financial instruments | |||
Net gains/(losses) | 288 | 841 | |
Net gains/(losses) of which related to credit risk - on assets | (238) | 39 | |
Other assets | |||
Gains (losses) on financial instruments | |||
Net gains/(losses) | 372 | 256 | |
Net gains/(losses) of which related to credit risk - on assets | 88 | 23 | |
Due to banks and customer deposits | |||
Gains (losses) on financial instruments | |||
Net gains/(losses) | (2) | (7) | |
Net gains/(losses) of which related to credit risk - on liabilities | (12) | 7 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | |||
Gains (losses) on financial instruments | |||
Net gains/(losses) | (38) | (37) | |
Short-term borrowings | |||
Gains (losses) on financial instruments | |||
Net gains/(losses) | 1,968 | (264) | |
Long-term debt | |||
Gains (losses) on financial instruments | |||
Net gains/(losses) | 1,915 | (3,554) | |
Net gains/(losses) of which related to credit risk - on liabilities | 37 | 0 | |
Fair Value, Option, Credit Risk, Changes in debt valuation adjustments on structured notes | SFr 261 | ||
Vanilla debt | |||
Gains (losses) on financial instruments | |||
Net gains/(losses) of which related to credit risk - on liabilities | SFr (108) | ||
Other liabilities | |||
Gains (losses) on financial instruments | |||
Net gains/(losses) | 100 | 158 | |
Net gains/(losses) of which related to credit risk - on liabilities | 15 | 106 | |
Bank | Interest-bearing deposits with banks | |||
Gains (losses) on financial instruments | |||
Net gains/(losses) | 4 | 7 | |
Net gains/(losses) of which related to credit risk - on assets | (3) | ||
Bank | Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | |||
Gains (losses) on financial instruments | |||
Net gains/(losses) | 653 | 852 | |
Bank | Other investments | |||
Gains (losses) on financial instruments | |||
Net gains/(losses) | 200 | 130 | |
Net gains/(losses) of which related to credit risk - on assets | (1) | 2 | |
Bank | Loans | |||
Gains (losses) on financial instruments | |||
Net gains/(losses) | 288 | 841 | |
Net gains/(losses) of which related to credit risk - on assets | (238) | 39 | |
Bank | Other assets | |||
Gains (losses) on financial instruments | |||
Net gains/(losses) | 372 | 256 | |
Net gains/(losses) of which related to credit risk - on assets | 88 | 23 | |
Bank | Due to banks and customer deposits | |||
Gains (losses) on financial instruments | |||
Net gains/(losses) | (2) | (7) | |
Net gains/(losses) of which related to credit risk - on liabilities | (12) | 7 | |
Bank | Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | |||
Gains (losses) on financial instruments | |||
Net gains/(losses) | (38) | (37) | |
Bank | Short-term borrowings | |||
Gains (losses) on financial instruments | |||
Net gains/(losses) | 1,968 | (264) | |
Net gains/(losses) of which related to credit risk - on liabilities | (2) | ||
Bank | Long-term debt | |||
Gains (losses) on financial instruments | |||
Net gains/(losses) | 1,799 | (3,220) | |
Net gains/(losses) of which related to credit risk - on liabilities | 37 | ||
Bank | Other liabilities | |||
Gains (losses) on financial instruments | |||
Net gains/(losses) | 99 | 157 | |
Net gains/(losses) of which related to credit risk - on liabilities | SFr 15 | SFr 109 |
FI - Fair value, unfunded commi
FI - Fair value, unfunded commitments, term of redemption conditions (Details 11) - CHF (SFr) SFr in Millions | Jun. 30, 2018 | Dec. 31, 2017 |
Schedule of Investments, Fair Value Calculated Using Net Asset Value | ||
Non-redeemable | SFr 650 | SFr 651 |
Redeemable | 2,070 | 2,257 |
Total fair value | 2,720 | 2,908 |
Unfunded commitments | 132 | 137 |
Investments, Fair Value Calculated Using Net Asset Value, Additional Disclosures | ||
Nonredeemable attributable to non-controlling interest | 141 | 229 |
Redeemable attributable to non-controlling interest | 18 | 167 |
Unfunded commitments attributable to non-controlling interest | SFr 27 | 53 |
High end of period of time, in years, that the underlying assets of non-redeemable funds are expected to be liquidated | 10 | |
Funds held in trading assets and liabilities | ||
Schedule of Investments, Fair Value Calculated Using Net Asset Value | ||
Non-redeemable | SFr 87 | 61 |
Redeemable | 949 | 983 |
Total fair value | 1,036 | 1,044 |
Unfunded commitments | 0 | 0 |
Funds held in trading assets and liabilities | Debt funds | ||
Schedule of Investments, Fair Value Calculated Using Net Asset Value | ||
Non-redeemable | 12 | 0 |
Redeemable | 0 | 0 |
Total fair value | 12 | 0 |
Unfunded commitments | 0 | 0 |
Funds held in trading assets and liabilities | Equity funds | ||
Schedule of Investments, Fair Value Calculated Using Net Asset Value | ||
Non-redeemable | 76 | 61 |
Redeemable | 950 | 992 |
Total fair value | 1,026 | 1,053 |
Unfunded commitments | SFr 0 | SFr 0 |
Investments, Fair Value Calculated Using Net Asset Value, Additional Disclosures | ||
Percentage of investment subject to on demand redemption | 55.00% | 54.00% |
Percentage of investment subject to monthly redemption | 35.00% | 35.00% |
Percentage of investment subject to quarterly redemption | 8.00% | 9.00% |
Percentage of investment subject to annual redemption | 1.00% | 2.00% |
Funds held in trading assets and liabilities | Equity funds sold short | ||
Schedule of Investments, Fair Value Calculated Using Net Asset Value | ||
Non-redeemable | SFr (1) | SFr 0 |
Redeemable | (1) | (9) |
Total fair value | (2) | (9) |
Unfunded commitments | 0 | 0 |
Funds held in other investments | ||
Schedule of Investments, Fair Value Calculated Using Net Asset Value | ||
Non-redeemable | 563 | 590 |
Redeemable | 1,121 | 1,274 |
Total fair value | 1,684 | 1,864 |
Unfunded commitments | 132 | 137 |
Funds held in other investments | Hedge funds | ||
Schedule of Investments, Fair Value Calculated Using Net Asset Value | ||
Non-redeemable | 103 | 168 |
Redeemable | 91 | 223 |
Total fair value | 194 | 391 |
Unfunded commitments | SFr 0 | SFr 9 |
Investments, Fair Value Calculated Using Net Asset Value, Additional Disclosures | ||
Percentage of investment subject to on demand redemption | 31.00% | 6.00% |
Percentage of investment subject to monthly redemption | 1.00% | 43.00% |
Percentage of investment subject to quarterly redemption | 68.00% | 51.00% |
Funds held in other investments | Private equity funds | ||
Schedule of Investments, Fair Value Calculated Using Net Asset Value | ||
Non-redeemable | SFr 403 | SFr 351 |
Redeemable | 4 | 0 |
Total fair value | 407 | 351 |
Unfunded commitments | 107 | 123 |
Funds held in other investments | Equity method investments | ||
Schedule of Investments, Fair Value Calculated Using Net Asset Value | ||
Non-redeemable | 57 | 71 |
Redeemable | 1,026 | 1,051 |
Total fair value | 1,083 | 1,122 |
Unfunded commitments | 25 | 5 |
Funds held in other investments | Debt funds | Hedge funds | ||
Schedule of Investments, Fair Value Calculated Using Net Asset Value | ||
Non-redeemable | 87 | 164 |
Redeemable | 34 | 75 |
Total fair value | 121 | 239 |
Unfunded commitments | 0 | 0 |
Funds held in other investments | Debt funds | Private equity funds | ||
Schedule of Investments, Fair Value Calculated Using Net Asset Value | ||
Non-redeemable | 1 | 1 |
Redeemable | 0 | 0 |
Total fair value | 1 | 1 |
Unfunded commitments | 0 | 0 |
Funds held in other investments | Equity funds | Hedge funds | ||
Schedule of Investments, Fair Value Calculated Using Net Asset Value | ||
Non-redeemable | 14 | 2 |
Redeemable | 15 | 53 |
Total fair value | 29 | 55 |
Unfunded commitments | 0 | 0 |
Funds held in other investments | Equity funds | Private equity funds | ||
Schedule of Investments, Fair Value Calculated Using Net Asset Value | ||
Non-redeemable | 147 | 141 |
Redeemable | 0 | 0 |
Total fair value | 147 | 141 |
Unfunded commitments | 46 | 64 |
Funds held in other investments | Real estate funds | Private equity funds | ||
Schedule of Investments, Fair Value Calculated Using Net Asset Value | ||
Non-redeemable | 221 | 178 |
Redeemable | 0 | 0 |
Total fair value | 221 | 178 |
Unfunded commitments | 40 | 44 |
Funds held in other investments | Others | Hedge funds | ||
Schedule of Investments, Fair Value Calculated Using Net Asset Value | ||
Non-redeemable | 2 | 2 |
Redeemable | 42 | 95 |
Total fair value | 44 | 97 |
Unfunded commitments | 0 | 9 |
Funds held in other investments | Others | Private equity funds | ||
Schedule of Investments, Fair Value Calculated Using Net Asset Value | ||
Non-redeemable | 34 | 31 |
Redeemable | 4 | 0 |
Total fair value | 38 | 31 |
Unfunded commitments | 21 | 15 |
Bank | ||
Schedule of Investments, Fair Value Calculated Using Net Asset Value | ||
Non-redeemable | 642 | 643 |
Redeemable | 2,070 | 2,256 |
Total fair value | 2,712 | 2,899 |
Unfunded commitments | 131 | 137 |
Investments, Fair Value Calculated Using Net Asset Value, Additional Disclosures | ||
Nonredeemable attributable to non-controlling interest | 141 | 229 |
Redeemable attributable to non-controlling interest | 18 | 167 |
Unfunded commitments attributable to non-controlling interest | 27 | 53 |
Bank | Funds held in trading assets and liabilities | ||
Schedule of Investments, Fair Value Calculated Using Net Asset Value | ||
Non-redeemable | 87 | 61 |
Redeemable | 949 | 983 |
Total fair value | 1,036 | 1,044 |
Unfunded commitments | 0 | 0 |
Bank | Funds held in trading assets and liabilities | Debt funds | ||
Schedule of Investments, Fair Value Calculated Using Net Asset Value | ||
Non-redeemable | 12 | 0 |
Redeemable | 0 | 0 |
Total fair value | 12 | 0 |
Unfunded commitments | 0 | 0 |
Bank | Funds held in trading assets and liabilities | Equity funds | ||
Schedule of Investments, Fair Value Calculated Using Net Asset Value | ||
Non-redeemable | 76 | 61 |
Redeemable | 950 | 992 |
Total fair value | 1,026 | 1,053 |
Unfunded commitments | SFr 0 | SFr 0 |
Investments, Fair Value Calculated Using Net Asset Value, Additional Disclosures | ||
Percentage of investment subject to on demand redemption | 55.00% | 54.00% |
Percentage of investment subject to monthly redemption | 35.00% | 35.00% |
Percentage of investment subject to quarterly redemption | 8.00% | 9.00% |
Percentage of investment subject to annual redemption | 1.00% | 2.00% |
Bank | Funds held in trading assets and liabilities | Equity funds sold short | ||
Schedule of Investments, Fair Value Calculated Using Net Asset Value | ||
Non-redeemable | SFr (1) | SFr 0 |
Redeemable | (1) | (9) |
Total fair value | (2) | (9) |
Unfunded commitments | 0 | 0 |
Bank | Funds held in other investments | ||
Schedule of Investments, Fair Value Calculated Using Net Asset Value | ||
Non-redeemable | 555 | 582 |
Redeemable | 1,121 | 1,273 |
Total fair value | 1,676 | 1,855 |
Unfunded commitments | 131 | 137 |
Bank | Funds held in other investments | Hedge funds | ||
Schedule of Investments, Fair Value Calculated Using Net Asset Value | ||
Non-redeemable | 103 | 168 |
Redeemable | 91 | 223 |
Total fair value | 194 | 391 |
Unfunded commitments | SFr 0 | SFr 9 |
Investments, Fair Value Calculated Using Net Asset Value, Additional Disclosures | ||
Percentage of investment subject to on demand redemption | 31.00% | 6.00% |
Percentage of investment subject to monthly redemption | 1.00% | 43.00% |
Percentage of investment subject to quarterly redemption | 68.00% | 51.00% |
Bank | Funds held in other investments | Private equity funds | ||
Schedule of Investments, Fair Value Calculated Using Net Asset Value | ||
Non-redeemable | SFr 395 | SFr 343 |
Redeemable | 4 | 0 |
Total fair value | 399 | 343 |
Unfunded commitments | 106 | 123 |
Bank | Funds held in other investments | Equity method investments | ||
Schedule of Investments, Fair Value Calculated Using Net Asset Value | ||
Non-redeemable | 57 | 71 |
Redeemable | 1,026 | 1,050 |
Total fair value | 1,083 | 1,121 |
Unfunded commitments | 25 | 5 |
Bank | Funds held in other investments | Debt funds | Hedge funds | ||
Schedule of Investments, Fair Value Calculated Using Net Asset Value | ||
Non-redeemable | 87 | 164 |
Redeemable | 34 | 75 |
Total fair value | 121 | 239 |
Unfunded commitments | 0 | 0 |
Bank | Funds held in other investments | Debt funds | Private equity funds | ||
Schedule of Investments, Fair Value Calculated Using Net Asset Value | ||
Non-redeemable | 1 | 1 |
Redeemable | 0 | 0 |
Total fair value | 1 | 1 |
Unfunded commitments | 0 | 0 |
Bank | Funds held in other investments | Equity funds | Hedge funds | ||
Schedule of Investments, Fair Value Calculated Using Net Asset Value | ||
Non-redeemable | 14 | 2 |
Redeemable | 15 | 53 |
Total fair value | 29 | 55 |
Unfunded commitments | 0 | 0 |
Bank | Funds held in other investments | Equity funds | Private equity funds | ||
Schedule of Investments, Fair Value Calculated Using Net Asset Value | ||
Non-redeemable | 139 | 133 |
Redeemable | 0 | 0 |
Total fair value | 139 | 133 |
Unfunded commitments | 45 | 63 |
Bank | Funds held in other investments | Real estate funds | Private equity funds | ||
Schedule of Investments, Fair Value Calculated Using Net Asset Value | ||
Non-redeemable | 221 | 178 |
Redeemable | 0 | 0 |
Total fair value | 221 | 178 |
Unfunded commitments | 40 | 44 |
Bank | Funds held in other investments | Others | Hedge funds | ||
Schedule of Investments, Fair Value Calculated Using Net Asset Value | ||
Non-redeemable | 2 | 2 |
Redeemable | 42 | 95 |
Total fair value | 44 | 97 |
Unfunded commitments | 0 | 9 |
Bank | Funds held in other investments | Others | Private equity funds | ||
Schedule of Investments, Fair Value Calculated Using Net Asset Value | ||
Non-redeemable | 34 | 31 |
Redeemable | 4 | 0 |
Total fair value | 38 | 31 |
Unfunded commitments | SFr 21 | SFr 16 |
FI - Transfers between levels 1
FI - Transfers between levels 1 and 2 (Details 14) - Recurring basis - CHF (SFr) SFr in Millions | Jun. 30, 2018 | Jun. 30, 2017 |
Obligation to return securities received as collateral | ||
Fair Value, Transfers between level 1 and level 2 | ||
Transfers to level 1 out of level 2 | SFr 8 | SFr 0 |
Transfers out of level 1 to level 2 | 19 | 137 |
Trading Liabilities | ||
Fair Value, Transfers between level 1 and level 2 | ||
Transfers to level 1 out of level 2 | 2,891 | 2,643 |
Transfers out of level 1 to level 2 | 117 | 154 |
Trading Liabilities | Debt securities | ||
Fair Value, Transfers between level 1 and level 2 | ||
Transfers to level 1 out of level 2 | 13 | 0 |
Transfers out of level 1 to level 2 | 2 | 44 |
Trading Liabilities | Equity securities | ||
Fair Value, Transfers between level 1 and level 2 | ||
Transfers to level 1 out of level 2 | 41 | 49 |
Transfers out of level 1 to level 2 | 97 | 78 |
Trading Liabilities | Derivative instruments | ||
Fair Value, Transfers between level 1 and level 2 | ||
Transfers to level 1 out of level 2 | 2,837 | 2,594 |
Transfers out of level 1 to level 2 | 18 | 32 |
Securities received as collateral | ||
Fair Value, Transfers between level 1 and level 2 | ||
Transfers to level 1 out of level 2 | 8 | 0 |
Transfers out of level 1 to level 2 | 19 | 137 |
Trading assets | ||
Fair Value, Transfers between level 1 and level 2 | ||
Transfers to level 1 out of level 2 | 3,114 | 2,957 |
Transfers out of level 1 to level 2 | 291 | 367 |
Trading assets | Debt securities | ||
Fair Value, Transfers between level 1 and level 2 | ||
Transfers to level 1 out of level 2 | 42 | 7 |
Transfers out of level 1 to level 2 | 108 | 206 |
Trading assets | Equity securities | ||
Fair Value, Transfers between level 1 and level 2 | ||
Transfers to level 1 out of level 2 | 521 | 663 |
Transfers out of level 1 to level 2 | 182 | 161 |
Trading assets | Derivative instruments | ||
Fair Value, Transfers between level 1 and level 2 | ||
Transfers to level 1 out of level 2 | 2,551 | 2,287 |
Transfers out of level 1 to level 2 | 1 | 0 |
Bank | Obligation to return securities received as collateral | ||
Fair Value, Transfers between level 1 and level 2 | ||
Transfers to level 1 out of level 2 | 8 | 0 |
Transfers out of level 1 to level 2 | 19 | 137 |
Bank | Trading Liabilities | ||
Fair Value, Transfers between level 1 and level 2 | ||
Transfers to level 1 out of level 2 | 2,891 | 2,643 |
Transfers out of level 1 to level 2 | 117 | 154 |
Bank | Trading Liabilities | Debt securities | ||
Fair Value, Transfers between level 1 and level 2 | ||
Transfers to level 1 out of level 2 | 13 | 0 |
Transfers out of level 1 to level 2 | 2 | 44 |
Bank | Trading Liabilities | Equity securities | ||
Fair Value, Transfers between level 1 and level 2 | ||
Transfers to level 1 out of level 2 | 41 | 49 |
Transfers out of level 1 to level 2 | 97 | 78 |
Bank | Trading Liabilities | Derivative instruments | ||
Fair Value, Transfers between level 1 and level 2 | ||
Transfers to level 1 out of level 2 | 2,837 | 2,594 |
Transfers out of level 1 to level 2 | 18 | 32 |
Bank | Securities received as collateral | ||
Fair Value, Transfers between level 1 and level 2 | ||
Transfers to level 1 out of level 2 | 8 | 0 |
Transfers out of level 1 to level 2 | 19 | 137 |
Bank | Trading assets | ||
Fair Value, Transfers between level 1 and level 2 | ||
Transfers to level 1 out of level 2 | 3,114 | 2,957 |
Transfers out of level 1 to level 2 | 291 | 367 |
Bank | Trading assets | Debt securities | ||
Fair Value, Transfers between level 1 and level 2 | ||
Transfers to level 1 out of level 2 | 42 | 7 |
Transfers out of level 1 to level 2 | 108 | 206 |
Bank | Trading assets | Equity securities | ||
Fair Value, Transfers between level 1 and level 2 | ||
Transfers to level 1 out of level 2 | 521 | 663 |
Transfers out of level 1 to level 2 | 182 | 161 |
Bank | Trading assets | Derivative instruments | ||
Fair Value, Transfers between level 1 and level 2 | ||
Transfers to level 1 out of level 2 | 2,551 | 2,287 |
Transfers out of level 1 to level 2 | SFr 1 | SFr 0 |
FI - Quantitative information a
FI - Quantitative information about level 3 assets at fair value (Details 15) - Recurring basis - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2016 | |
Interest-bearing deposits with banks | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | SFr 39 | SFr 1 | ||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | 0 | 174 | ||
Securities received as collateral | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | SFr 46 | SFr 9 | 14 | 70 |
Trading assets | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | 8,754 | 7,595 | 8,369 | 12,765 |
Trading assets | Debt securities | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | 2,292 | 2,161 | 2,110 | 3,977 |
Trading assets | Debt securities | Corporate debt securities | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | 1,412 | 1,233 | 999 | 1,674 |
Trading assets | Debt securities | Corporate debt securities | Option model | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | SFr 387 | SFr 653 | ||
Trading assets | Debt securities | Corporate debt securities | Option model | Minimum | ||||
Unobservable input | ||||
Correlation (in %) | (60.00%) | (60.00%) | ||
Volatility (in %) | 0.00% | |||
Trading assets | Debt securities | Corporate debt securities | Option model | Maximum | ||||
Unobservable input | ||||
Correlation (in %) | 98.00% | 100.00% | ||
Volatility (in %) | 96.00% | |||
Trading assets | Debt securities | Corporate debt securities | Option model | Weighted average | ||||
Unobservable input | ||||
Correlation (in %) | 55.00% | 62.00% | ||
Volatility (in %) | 25.00% | |||
Trading assets | Debt securities | Corporate debt securities | Discounted cash flow | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | SFr 444 | |||
Trading assets | Debt securities | Corporate debt securities | Discounted cash flow | Minimum | ||||
Unobservable input | ||||
Credit spread (in bp) | 37 | |||
Trading assets | Debt securities | Corporate debt securities | Discounted cash flow | Maximum | ||||
Unobservable input | ||||
Credit spread (in bp) | 952 | |||
Trading assets | Debt securities | Corporate debt securities | Discounted cash flow | Weighted average | ||||
Unobservable input | ||||
Credit spread (in bp) | 230 | |||
Trading assets | Debt securities | Corporate debt securities | Market comparable | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | SFr 545 | SFr 493 | ||
Trading assets | Debt securities | Corporate debt securities | Market comparable | Minimum | ||||
Unobservable input | ||||
Price (in %) | 0.00% | 0.00% | ||
Trading assets | Debt securities | Corporate debt securities | Market comparable | Maximum | ||||
Unobservable input | ||||
Price (in %) | 139.00% | 104.00% | ||
Trading assets | Debt securities | Corporate debt securities | Market comparable | Weighted average | ||||
Unobservable input | ||||
Price (in %) | 84.00% | 78.00% | ||
Trading assets | Debt securities | RMBS | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | SFr 320 | SFr 446 | 431 | 605 |
Trading assets | Debt securities | RMBS | Discounted cash flow | Minimum | ||||
Unobservable input | ||||
Prepayment rate (in %) | 1.00% | 2.00% | ||
Discount rate (in %) | 1.00% | 0.00% | ||
Default rate (in %) | 0.00% | 0.00% | ||
Loss severity (in %) | 0.00% | 0.00% | ||
Trading assets | Debt securities | RMBS | Discounted cash flow | Maximum | ||||
Unobservable input | ||||
Prepayment rate (in %) | 36.00% | 23.00% | ||
Discount rate (in %) | 24.00% | 30.00% | ||
Default rate (in %) | 12.00% | 8.00% | ||
Loss severity (in %) | 100.00% | 100.00% | ||
Trading assets | Debt securities | RMBS | Discounted cash flow | Weighted average | ||||
Unobservable input | ||||
Prepayment rate (in %) | 10.00% | 9.00% | ||
Discount rate (in %) | 11.00% | 7.00% | ||
Default rate (in %) | 4.00% | 3.00% | ||
Loss severity (in %) | 57.00% | 51.00% | ||
Trading assets | Debt securities | CMBS | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | SFr 16 | SFr 20 | 35 | 65 |
Trading assets | Debt securities | CMBS | Discounted cash flow | Minimum | ||||
Unobservable input | ||||
Capitalization rate (in %) | 14.00% | 14.00% | ||
Prepayment rate (in %) | 0.00% | 0.00% | ||
Discount rate (in %) | 8.00% | 6.00% | ||
Trading assets | Debt securities | CMBS | Discounted cash flow | Maximum | ||||
Unobservable input | ||||
Capitalization rate (in %) | 14.00% | 14.00% | ||
Prepayment rate (in %) | 5.00% | 27.00% | ||
Discount rate (in %) | 16.00% | 13.00% | ||
Trading assets | Debt securities | CMBS | Discounted cash flow | Weighted average | ||||
Unobservable input | ||||
Capitalization rate (in %) | 14.00% | 14.00% | ||
Prepayment rate (in %) | 4.00% | 6.00% | ||
Discount rate (in %) | 14.00% | 11.00% | ||
Trading assets | Debt securities | Collateralized debt obligations | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | SFr 126 | SFr 108 | 178 | 1,165 |
Trading assets | Debt securities | Collateralized debt obligations | Discounted cash flow | Minimum | ||||
Unobservable input | ||||
Credit spread (in bp) | 464 | 482 | ||
Prepayment rate (in %) | 5.00% | 0.00% | ||
Discount rate (in %) | 5.00% | 4.00% | ||
Default rate (in %) | 2.00% | 0.00% | ||
Loss severity (in %) | 0.00% | 30.00% | ||
Trading assets | Debt securities | Collateralized debt obligations | Discounted cash flow | Maximum | ||||
Unobservable input | ||||
Credit spread (in bp) | 669 | 663 | ||
Prepayment rate (in %) | 20.00% | 20.00% | ||
Discount rate (in %) | 13.00% | 14.00% | ||
Default rate (in %) | 5.00% | 2.00% | ||
Loss severity (in %) | 80.00% | 100.00% | ||
Trading assets | Debt securities | Collateralized debt obligations | Discounted cash flow | Weighted average | ||||
Unobservable input | ||||
Credit spread (in bp) | 553 | 576 | ||
Prepayment rate (in %) | 13.00% | 19.00% | ||
Discount rate (in %) | 8.00% | 7.00% | ||
Default rate (in %) | 3.00% | 2.00% | ||
Loss severity (in %) | 34.00% | 32.00% | ||
Trading assets | Equity securities | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | SFr 163 | SFr 182 | 135 | 240 |
Trading assets | Equity securities | Vendor price | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | SFr 67 | SFr 111 | ||
Trading assets | Equity securities | Vendor price | Minimum | ||||
Unobservable input | ||||
Price (in actuals) | 0 | 0 | ||
Trading assets | Equity securities | Vendor price | Maximum | ||||
Unobservable input | ||||
Price (in actuals) | 2,080 | 427 | ||
Trading assets | Equity securities | Vendor price | Weighted average | ||||
Unobservable input | ||||
Price (in actuals) | 10 | 5 | ||
Trading assets | Equity securities | Market comparable | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | SFr 81 | SFr 70 | ||
Trading assets | Equity securities | Market comparable | Minimum | ||||
Unobservable input | ||||
EBITDA multiple | 2 | 2 | ||
Price (in %) | 18.00% | 100.00% | ||
Trading assets | Equity securities | Market comparable | Maximum | ||||
Unobservable input | ||||
EBITDA multiple | 9 | 8 | ||
Price (in %) | 100.00% | 100.00% | ||
Trading assets | Equity securities | Market comparable | Weighted average | ||||
Unobservable input | ||||
EBITDA multiple | 7 | 7 | ||
Price (in %) | 67.00% | 100.00% | ||
Trading assets | Derivative instruments | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | SFr 3,289 | SFr 3,116 | 3,311 | 4,305 |
Trading assets | Derivative instruments | Interest rate derivatives | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | SFr 801 | SFr 707 | 714 | 748 |
Trading assets | Derivative instruments | Interest rate derivatives | Option model | Minimum | ||||
Unobservable input | ||||
Correlation (in %) | 20.00% | 3.00% | ||
Prepayment rate (in %) | 6.00% | 1.00% | ||
Volatility skew (in %) | (4.00%) | (4.00%) | ||
Trading assets | Derivative instruments | Interest rate derivatives | Option model | Maximum | ||||
Unobservable input | ||||
Correlation (in %) | 100.00% | 100.00% | ||
Prepayment rate (in %) | 34.00% | 25.00% | ||
Volatility skew (in %) | 1.00% | 0.00% | ||
Trading assets | Derivative instruments | Interest rate derivatives | Option model | Weighted average | ||||
Unobservable input | ||||
Correlation (in %) | 72.00% | 76.00% | ||
Prepayment rate (in %) | 17.00% | 9.00% | ||
Volatility skew (in %) | (1.00%) | (2.00%) | ||
Trading assets | Derivative instruments | Credit derivatives | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | SFr 634 | SFr 745 | 454 | 688 |
Trading assets | Derivative instruments | Credit derivatives | Discounted cash flow | Minimum | ||||
Unobservable input | ||||
Funding spread (in bp) | 1 | |||
Correlation (in %) | 97.00% | 97.00% | ||
Credit spread (in bp) | 1 | 1 | ||
Prepayment rate (in %) | 0.00% | 0.00% | ||
Recovery rate (in %) | 0.00% | 0.00% | ||
Discount rate (in %) | 3.00% | 2.00% | ||
Default rate (in %) | 1.00% | 2.00% | ||
Loss severity (in %) | 1.00% | 16.00% | ||
Funding rate (in %) | 12.00% | |||
Trading assets | Derivative instruments | Credit derivatives | Discounted cash flow | Maximum | ||||
Unobservable input | ||||
Funding spread (in bp) | 2 | |||
Correlation (in %) | 97.00% | 97.00% | ||
Credit spread (in bp) | 956 | 2,913 | ||
Prepayment rate (in %) | 14.00% | 20.00% | ||
Recovery rate (in %) | 45.00% | 45.00% | ||
Discount rate (in %) | 50.00% | 28.00% | ||
Default rate (in %) | 20.00% | 20.00% | ||
Loss severity (in %) | 100.00% | 100.00% | ||
Funding rate (in %) | 12.00% | |||
Trading assets | Derivative instruments | Credit derivatives | Discounted cash flow | Weighted average | ||||
Unobservable input | ||||
Funding spread (in bp) | 1 | |||
Correlation (in %) | 97.00% | 97.00% | ||
Credit spread (in bp) | 217 | 566 | ||
Prepayment rate (in %) | 6.00% | 6.00% | ||
Recovery rate (in %) | 20.00% | 20.00% | ||
Discount rate (in %) | 16.00% | 16.00% | ||
Default rate (in %) | 5.00% | 5.00% | ||
Loss severity (in %) | 64.00% | 64.00% | ||
Funding rate (in %) | 12.00% | |||
Trading assets | Derivative instruments | Equity/Index-related products | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | SFr 833 | SFr 747 | 813 | 914 |
Trading assets | Derivative instruments | Equity/Index-related products | Option model | Minimum | ||||
Unobservable input | ||||
Buyback probability (in %) | 50.00% | 50.00% | ||
Correlation (in %) | (60.00%) | (60.00%) | ||
Gap risk (in %) | 0.00% | 0.00% | ||
Volatility (in %) | 0.00% | 0.00% | ||
Trading assets | Derivative instruments | Equity/Index-related products | Option model | Maximum | ||||
Unobservable input | ||||
Buyback probability (in %) | 100.00% | 100.00% | ||
Correlation (in %) | 98.00% | 100.00% | ||
Gap risk (in %) | 2.00% | 4.00% | ||
Volatility (in %) | 105.00% | 96.00% | ||
Trading assets | Derivative instruments | Equity/Index-related products | Option model | Weighted average | ||||
Unobservable input | ||||
Buyback probability (in %) | 90.00% | 75.00% | ||
Correlation (in %) | 65.00% | 73.00% | ||
Gap risk (in %) | 1.00% | 1.00% | ||
Volatility (in %) | 64.00% | 33.00% | ||
Trading assets | Other | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | SFr 3,010 | SFr 2,136 | 2,813 | 4,243 |
Trading assets | Other | Discounted cash flow | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | SFr 1,095 | SFr 903 | ||
Trading assets | Other | Discounted cash flow | Minimum | ||||
Unobservable input | ||||
Life expectancy (in years) | 3 | 3 | ||
Trading assets | Other | Discounted cash flow | Maximum | ||||
Unobservable input | ||||
Life expectancy (in years) | 18 | 16 | ||
Trading assets | Other | Discounted cash flow | Weighted average | ||||
Unobservable input | ||||
Life expectancy (in years) | 8 | 7 | ||
Trading assets | Other | Market comparable | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | SFr 1,605 | SFr 1,092 | ||
Trading assets | Other | Market comparable | Minimum | ||||
Unobservable input | ||||
Price (in %) | 0.00% | 0.00% | ||
Trading assets | Other | Market comparable | Maximum | ||||
Unobservable input | ||||
Price (in %) | 110.00% | 115.00% | ||
Trading assets | Other | Market comparable | Weighted average | ||||
Unobservable input | ||||
Price (in %) | 23.00% | 16.00% | ||
Other investments | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | SFr 1,601 | SFr 1,348 | 1,657 | 1,906 |
Other investments | Private equity | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | 29 | 23 | ||
Other investments | Other equity investments | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | 271 | 124 | ||
Other investments | Life finance instruments | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | SFr 1,301 | SFr 1,201 | 1,365 | 1,588 |
Other investments | Life finance instruments | Discounted cash flow | Minimum | ||||
Unobservable input | ||||
Life expectancy (in years) | 2 | 2 | ||
Other investments | Life finance instruments | Discounted cash flow | Maximum | ||||
Unobservable input | ||||
Life expectancy (in years) | 18 | 18 | ||
Other investments | Life finance instruments | Discounted cash flow | Weighted average | ||||
Unobservable input | ||||
Life expectancy (in years) | 6 | 6 | ||
Other investments | Equity securities | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | SFr 300 | SFr 147 | 292 | 318 |
Loans | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | 4,530 | 4,184 | 5,212 | 6,585 |
Other intangible assets | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | 158 | 151 | 128 | 138 |
Other assets | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | 1,511 | 1,560 | 2,176 | 1,679 |
Other assets - of which loans held-for-sale | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | 1,350 | 1,355 | 1,973 | 1,316 |
Other assets - of which loans held-for-sale | Discounted cash flow | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | SFr 849 | SFr 717 | ||
Other assets - of which loans held-for-sale | Discounted cash flow | Minimum | ||||
Unobservable input | ||||
Credit spread (in bp) | 117 | 89 | ||
Recovery rate (in %) | 18.00% | 42.00% | ||
Other assets - of which loans held-for-sale | Discounted cash flow | Maximum | ||||
Unobservable input | ||||
Credit spread (in bp) | 973 | 1,301 | ||
Recovery rate (in %) | 87.00% | 87.00% | ||
Other assets - of which loans held-for-sale | Discounted cash flow | Weighted average | ||||
Unobservable input | ||||
Credit spread (in bp) | 292 | 277 | ||
Recovery rate (in %) | 73.00% | 68.00% | ||
Other assets - of which loans held-for-sale | Market comparable | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | SFr 280 | SFr 323 | ||
Other assets - of which loans held-for-sale | Market comparable | Minimum | ||||
Unobservable input | ||||
Price (in %) | 0.00% | 0.00% | ||
Other assets - of which loans held-for-sale | Market comparable | Maximum | ||||
Unobservable input | ||||
Price (in %) | 102.00% | 101.00% | ||
Other assets - of which loans held-for-sale | Market comparable | Weighted average | ||||
Unobservable input | ||||
Price (in %) | 88.00% | 88.00% | ||
Assets | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | SFr 16,642 | SFr 15,000 | 17,631 | 23,390 |
Investment securities | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | 42 | 153 | 36 | 72 |
Commercial and industrial loans | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | 2,207 | 1,859 | 2,747 | 3,816 |
Commercial and industrial loans | Discounted cash flow | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | SFr 1,924 | SFr 1,545 | ||
Commercial and industrial loans | Discounted cash flow | Minimum | ||||
Unobservable input | ||||
Credit spread (in bp) | 89 | 90 | ||
Commercial and industrial loans | Discounted cash flow | Maximum | ||||
Unobservable input | ||||
Credit spread (in bp) | 1,116 | 1,905 | ||
Commercial and industrial loans | Discounted cash flow | Weighted average | ||||
Unobservable input | ||||
Credit spread (in bp) | 420 | 510 | ||
Commercial and industrial loans | Market comparable | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | SFr 250 | SFr 313 | ||
Commercial and industrial loans | Market comparable | Minimum | ||||
Unobservable input | ||||
Price (in %) | 0.00% | 0.00% | ||
Commercial and industrial loans | Market comparable | Maximum | ||||
Unobservable input | ||||
Price (in %) | 99.00% | 100.00% | ||
Commercial and industrial loans | Market comparable | Weighted average | ||||
Unobservable input | ||||
Price (in %) | 56.00% | 61.00% | ||
Financial institutions | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | SFr 1,480 | SFr 1,426 | 1,830 | 1,829 |
Financial institutions | Discounted cash flow | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | SFr 1,426 | SFr 1,245 | ||
Financial institutions | Discounted cash flow | Minimum | ||||
Unobservable input | ||||
Credit spread (in bp) | 43 | 32 | ||
Financial institutions | Discounted cash flow | Maximum | ||||
Unobservable input | ||||
Credit spread (in bp) | 1,430 | 1,764 | ||
Financial institutions | Discounted cash flow | Weighted average | ||||
Unobservable input | ||||
Credit spread (in bp) | 371 | 592 | ||
Bank | Interest-bearing deposits with banks | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | 39 | 1 | ||
Bank | Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | 0 | 174 | ||
Bank | Securities received as collateral | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | SFr 46 | SFr 9 | 14 | 70 |
Bank | Trading assets | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | 8,754 | 7,595 | 8,369 | 12,765 |
Bank | Trading assets | Debt securities | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | 2,292 | 2,161 | 2,110 | 3,977 |
Bank | Trading assets | Debt securities | Corporate debt securities | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | 1,412 | 1,233 | 999 | 1,674 |
Bank | Trading assets | Debt securities | Corporate debt securities | Option model | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | SFr 387 | SFr 653 | ||
Bank | Trading assets | Debt securities | Corporate debt securities | Option model | Minimum | ||||
Unobservable input | ||||
Correlation (in %) | (60.00%) | (60.00%) | ||
Volatility (in %) | 0.00% | |||
Bank | Trading assets | Debt securities | Corporate debt securities | Option model | Maximum | ||||
Unobservable input | ||||
Correlation (in %) | 98.00% | 100.00% | ||
Volatility (in %) | 96.00% | |||
Bank | Trading assets | Debt securities | Corporate debt securities | Option model | Weighted average | ||||
Unobservable input | ||||
Correlation (in %) | 55.00% | 62.00% | ||
Volatility (in %) | 25.00% | |||
Bank | Trading assets | Debt securities | Corporate debt securities | Discounted cash flow | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | SFr 444 | |||
Bank | Trading assets | Debt securities | Corporate debt securities | Discounted cash flow | Minimum | ||||
Unobservable input | ||||
Credit spread (in bp) | 37 | |||
Bank | Trading assets | Debt securities | Corporate debt securities | Discounted cash flow | Maximum | ||||
Unobservable input | ||||
Credit spread (in bp) | 952 | |||
Bank | Trading assets | Debt securities | Corporate debt securities | Discounted cash flow | Weighted average | ||||
Unobservable input | ||||
Credit spread (in bp) | 230 | |||
Bank | Trading assets | Debt securities | Corporate debt securities | Market comparable | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | SFr 545 | SFr 493 | ||
Bank | Trading assets | Debt securities | Corporate debt securities | Market comparable | Minimum | ||||
Unobservable input | ||||
Price (in %) | 0.00% | 0.00% | ||
Bank | Trading assets | Debt securities | Corporate debt securities | Market comparable | Maximum | ||||
Unobservable input | ||||
Price (in %) | 139.00% | 104.00% | ||
Bank | Trading assets | Debt securities | Corporate debt securities | Market comparable | Weighted average | ||||
Unobservable input | ||||
Price (in %) | 84.00% | 78.00% | ||
Bank | Trading assets | Debt securities | RMBS | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | SFr 320 | SFr 446 | 431 | 605 |
Bank | Trading assets | Debt securities | RMBS | Discounted cash flow | Minimum | ||||
Unobservable input | ||||
Prepayment rate (in %) | 1.00% | 2.00% | ||
Discount rate (in %) | 1.00% | 0.00% | ||
Default rate (in %) | 0.00% | 0.00% | ||
Loss severity (in %) | 0.00% | 0.00% | ||
Bank | Trading assets | Debt securities | RMBS | Discounted cash flow | Maximum | ||||
Unobservable input | ||||
Prepayment rate (in %) | 36.00% | 23.00% | ||
Discount rate (in %) | 24.00% | 30.00% | ||
Default rate (in %) | 12.00% | 8.00% | ||
Loss severity (in %) | 100.00% | 100.00% | ||
Bank | Trading assets | Debt securities | RMBS | Discounted cash flow | Weighted average | ||||
Unobservable input | ||||
Prepayment rate (in %) | 10.00% | 9.00% | ||
Discount rate (in %) | 11.00% | 7.00% | ||
Default rate (in %) | 4.00% | 3.00% | ||
Loss severity (in %) | 57.00% | 51.00% | ||
Bank | Trading assets | Debt securities | CMBS | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | SFr 16 | SFr 20 | 35 | 65 |
Bank | Trading assets | Debt securities | CMBS | Discounted cash flow | Minimum | ||||
Unobservable input | ||||
Capitalization rate (in %) | 14.00% | 14.00% | ||
Prepayment rate (in %) | 0.00% | 0.00% | ||
Discount rate (in %) | 8.00% | 6.00% | ||
Bank | Trading assets | Debt securities | CMBS | Discounted cash flow | Maximum | ||||
Unobservable input | ||||
Capitalization rate (in %) | 14.00% | 14.00% | ||
Prepayment rate (in %) | 5.00% | 27.00% | ||
Discount rate (in %) | 16.00% | 13.00% | ||
Bank | Trading assets | Debt securities | CMBS | Discounted cash flow | Weighted average | ||||
Unobservable input | ||||
Capitalization rate (in %) | 14.00% | 14.00% | ||
Prepayment rate (in %) | 4.00% | 6.00% | ||
Discount rate (in %) | 14.00% | 11.00% | ||
Bank | Trading assets | Debt securities | Collateralized debt obligations | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | SFr 126 | SFr 108 | 178 | 1,165 |
Bank | Trading assets | Debt securities | Collateralized debt obligations | Discounted cash flow | Minimum | ||||
Unobservable input | ||||
Credit spread (in bp) | 464 | 482 | ||
Prepayment rate (in %) | 5.00% | 0.00% | ||
Discount rate (in %) | 5.00% | 4.00% | ||
Default rate (in %) | 2.00% | 0.00% | ||
Loss severity (in %) | 0.00% | 30.00% | ||
Bank | Trading assets | Debt securities | Collateralized debt obligations | Discounted cash flow | Maximum | ||||
Unobservable input | ||||
Credit spread (in bp) | 669 | 663 | ||
Prepayment rate (in %) | 20.00% | 20.00% | ||
Discount rate (in %) | 13.00% | 14.00% | ||
Default rate (in %) | 5.00% | 2.00% | ||
Loss severity (in %) | 80.00% | 100.00% | ||
Bank | Trading assets | Debt securities | Collateralized debt obligations | Discounted cash flow | Weighted average | ||||
Unobservable input | ||||
Credit spread (in bp) | 553 | 576 | ||
Prepayment rate (in %) | 13.00% | 19.00% | ||
Discount rate (in %) | 8.00% | 7.00% | ||
Default rate (in %) | 3.00% | 2.00% | ||
Loss severity (in %) | 34.00% | 32.00% | ||
Bank | Trading assets | Equity securities | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | SFr 163 | SFr 182 | 135 | 240 |
Bank | Trading assets | Equity securities | Option model | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | 70 | |||
Bank | Trading assets | Equity securities | Vendor price | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | SFr 67 | SFr 111 | ||
Bank | Trading assets | Equity securities | Vendor price | Minimum | ||||
Unobservable input | ||||
Price (in actuals) | 0 | 0 | ||
Bank | Trading assets | Equity securities | Vendor price | Maximum | ||||
Unobservable input | ||||
Price (in actuals) | 2,080 | 427 | ||
Bank | Trading assets | Equity securities | Vendor price | Weighted average | ||||
Unobservable input | ||||
Price (in actuals) | 10 | 5 | ||
Bank | Trading assets | Equity securities | Market comparable | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | SFr 81 | |||
Bank | Trading assets | Equity securities | Market comparable | Minimum | ||||
Unobservable input | ||||
EBITDA multiple | 2 | 2 | ||
Price (in %) | 18.00% | 100.00% | ||
Bank | Trading assets | Equity securities | Market comparable | Maximum | ||||
Unobservable input | ||||
EBITDA multiple | 9 | 8 | ||
Price (in %) | 100.00% | 100.00% | ||
Bank | Trading assets | Equity securities | Market comparable | Weighted average | ||||
Unobservable input | ||||
EBITDA multiple | 7 | 7 | ||
Price (in %) | 67.00% | 100.00% | ||
Bank | Trading assets | Derivative instruments | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | SFr 3,289 | SFr 3,116 | 3,311 | 4,305 |
Bank | Trading assets | Derivative instruments | Interest rate derivatives | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | SFr 801 | SFr 707 | 714 | 748 |
Bank | Trading assets | Derivative instruments | Interest rate derivatives | Option model | Minimum | ||||
Unobservable input | ||||
Correlation (in %) | 20.00% | 3.00% | ||
Prepayment rate (in %) | 6.00% | 1.00% | ||
Volatility skew (in %) | (4.00%) | (4.00%) | ||
Bank | Trading assets | Derivative instruments | Interest rate derivatives | Option model | Maximum | ||||
Unobservable input | ||||
Correlation (in %) | 100.00% | 100.00% | ||
Prepayment rate (in %) | 34.00% | 25.00% | ||
Volatility skew (in %) | 1.00% | 0.00% | ||
Bank | Trading assets | Derivative instruments | Interest rate derivatives | Option model | Weighted average | ||||
Unobservable input | ||||
Correlation (in %) | 72.00% | 76.00% | ||
Prepayment rate (in %) | 17.00% | 9.00% | ||
Volatility skew (in %) | (1.00%) | (2.00%) | ||
Bank | Trading assets | Derivative instruments | Credit derivatives | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | SFr 634 | SFr 745 | 454 | 688 |
Bank | Trading assets | Derivative instruments | Credit derivatives | Discounted cash flow | Minimum | ||||
Unobservable input | ||||
Funding spread (in bp) | 1 | |||
Correlation (in %) | 97.00% | 97.00% | ||
Credit spread (in bp) | 1 | 1 | ||
Prepayment rate (in %) | 0.00% | 0.00% | ||
Recovery rate (in %) | 0.00% | 0.00% | ||
Discount rate (in %) | 3.00% | 2.00% | ||
Default rate (in %) | 1.00% | 2.00% | ||
Loss severity (in %) | 1.00% | 16.00% | ||
Funding rate (in %) | 12.00% | |||
Bank | Trading assets | Derivative instruments | Credit derivatives | Discounted cash flow | Maximum | ||||
Unobservable input | ||||
Funding spread (in bp) | 2 | |||
Correlation (in %) | 97.00% | 97.00% | ||
Credit spread (in bp) | 956 | 2,913 | ||
Prepayment rate (in %) | 14.00% | 20.00% | ||
Recovery rate (in %) | 45.00% | 45.00% | ||
Discount rate (in %) | 50.00% | 28.00% | ||
Default rate (in %) | 20.00% | 20.00% | ||
Loss severity (in %) | 100.00% | 100.00% | ||
Funding rate (in %) | 12.00% | |||
Bank | Trading assets | Derivative instruments | Credit derivatives | Discounted cash flow | Weighted average | ||||
Unobservable input | ||||
Funding spread (in bp) | 1 | |||
Correlation (in %) | 97.00% | 97.00% | ||
Credit spread (in bp) | 217 | 566 | ||
Prepayment rate (in %) | 6.00% | 6.00% | ||
Recovery rate (in %) | 20.00% | 20.00% | ||
Discount rate (in %) | 16.00% | 16.00% | ||
Default rate (in %) | 5.00% | 5.00% | ||
Loss severity (in %) | 64.00% | 64.00% | ||
Funding rate (in %) | 12.00% | |||
Bank | Trading assets | Derivative instruments | Equity/Index-related products | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | SFr 833 | SFr 747 | 813 | 914 |
Bank | Trading assets | Derivative instruments | Equity/Index-related products | Option model | Minimum | ||||
Unobservable input | ||||
Buyback probability (in %) | 50.00% | 50.00% | ||
Correlation (in %) | (60.00%) | (60.00%) | ||
Gap risk (in %) | 0.00% | 0.00% | ||
Volatility (in %) | 0.00% | 0.00% | ||
Bank | Trading assets | Derivative instruments | Equity/Index-related products | Option model | Maximum | ||||
Unobservable input | ||||
Buyback probability (in %) | 100.00% | 100.00% | ||
Correlation (in %) | 98.00% | 100.00% | ||
Gap risk (in %) | 2.00% | 4.00% | ||
Volatility (in %) | 105.00% | 96.00% | ||
Bank | Trading assets | Derivative instruments | Equity/Index-related products | Option model | Weighted average | ||||
Unobservable input | ||||
Buyback probability (in %) | 90.00% | 75.00% | ||
Correlation (in %) | 65.00% | 73.00% | ||
Gap risk (in %) | 1.00% | 1.00% | ||
Volatility (in %) | 64.00% | 33.00% | ||
Bank | Trading assets | Other | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | SFr 3,010 | SFr 2,136 | 2,813 | 4,243 |
Bank | Trading assets | Other | Discounted cash flow | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | SFr 1,095 | SFr 903 | ||
Bank | Trading assets | Other | Discounted cash flow | Minimum | ||||
Unobservable input | ||||
Life expectancy (in years) | 3 | 3 | ||
Bank | Trading assets | Other | Discounted cash flow | Maximum | ||||
Unobservable input | ||||
Life expectancy (in years) | 18 | 16 | ||
Bank | Trading assets | Other | Discounted cash flow | Weighted average | ||||
Unobservable input | ||||
Life expectancy (in years) | 8 | 7 | ||
Bank | Trading assets | Other | Market comparable | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | SFr 1,605 | SFr 1,092 | ||
Bank | Trading assets | Other | Market comparable | Minimum | ||||
Unobservable input | ||||
Price (in %) | 0.00% | 0.00% | ||
Bank | Trading assets | Other | Market comparable | Maximum | ||||
Unobservable input | ||||
Price (in %) | 110.00% | 115.00% | ||
Bank | Trading assets | Other | Market comparable | Weighted average | ||||
Unobservable input | ||||
Price (in %) | 23.00% | 16.00% | ||
Bank | Other investments | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | SFr 1,601 | SFr 1,348 | 1,657 | 1,906 |
Bank | Other investments | Private equity | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | 29 | 23 | ||
Bank | Other investments | Other equity investments | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | 271 | 124 | ||
Bank | Other investments | Life finance instruments | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | SFr 1,301 | SFr 1,201 | 1,365 | 1,588 |
Bank | Other investments | Life finance instruments | Discounted cash flow | Minimum | ||||
Unobservable input | ||||
Life expectancy (in years) | 2 | 2 | ||
Bank | Other investments | Life finance instruments | Discounted cash flow | Maximum | ||||
Unobservable input | ||||
Life expectancy (in years) | 18 | 18 | ||
Bank | Other investments | Life finance instruments | Discounted cash flow | Weighted average | ||||
Unobservable input | ||||
Life expectancy (in years) | 6 | 6 | ||
Bank | Other investments | Equity securities | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | SFr 300 | SFr 147 | 292 | 318 |
Bank | Loans | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | 4,530 | 4,184 | 5,212 | 6,585 |
Bank | Other intangible assets | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | 158 | 151 | 128 | 138 |
Bank | Other assets | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | 1,511 | 1,560 | 2,176 | 1,679 |
Bank | Other assets - of which loans held-for-sale | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | 1,350 | 1,355 | 1,973 | 1,316 |
Bank | Other assets - of which loans held-for-sale | Discounted cash flow | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | SFr 849 | SFr 717 | ||
Bank | Other assets - of which loans held-for-sale | Discounted cash flow | Minimum | ||||
Unobservable input | ||||
Credit spread (in bp) | 117 | 89 | ||
Recovery rate (in %) | 18.00% | 42.00% | ||
Bank | Other assets - of which loans held-for-sale | Discounted cash flow | Maximum | ||||
Unobservable input | ||||
Credit spread (in bp) | 973 | 1,301 | ||
Recovery rate (in %) | 87.00% | 87.00% | ||
Bank | Other assets - of which loans held-for-sale | Discounted cash flow | Weighted average | ||||
Unobservable input | ||||
Credit spread (in bp) | 292 | 277 | ||
Recovery rate (in %) | 73.00% | 68.00% | ||
Bank | Other assets - of which loans held-for-sale | Market comparable | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | SFr 280 | SFr 323 | ||
Bank | Other assets - of which loans held-for-sale | Market comparable | Minimum | ||||
Unobservable input | ||||
Price (in %) | 0.00% | 0.00% | ||
Bank | Other assets - of which loans held-for-sale | Market comparable | Maximum | ||||
Unobservable input | ||||
Price (in %) | 102.00% | 101.00% | ||
Bank | Other assets - of which loans held-for-sale | Market comparable | Weighted average | ||||
Unobservable input | ||||
Price (in %) | 88.00% | 88.00% | ||
Bank | Assets | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | SFr 16,642 | SFr 15,000 | 17,631 | 23,390 |
Bank | Investment securities | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | 42 | 153 | 36 | 72 |
Bank | Commercial and industrial loans | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | 2,207 | 1,859 | 2,747 | 3,816 |
Bank | Commercial and industrial loans | Discounted cash flow | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | SFr 1,924 | SFr 1,545 | ||
Bank | Commercial and industrial loans | Discounted cash flow | Minimum | ||||
Unobservable input | ||||
Credit spread (in bp) | 89 | 90 | ||
Bank | Commercial and industrial loans | Discounted cash flow | Maximum | ||||
Unobservable input | ||||
Credit spread (in bp) | 1,116 | 1,905 | ||
Bank | Commercial and industrial loans | Discounted cash flow | Weighted average | ||||
Unobservable input | ||||
Credit spread (in bp) | 420 | 510 | ||
Bank | Commercial and industrial loans | Market comparable | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | SFr 250 | SFr 313 | ||
Bank | Commercial and industrial loans | Market comparable | Minimum | ||||
Unobservable input | ||||
Price (in %) | 0.00% | 0.00% | ||
Bank | Commercial and industrial loans | Market comparable | Maximum | ||||
Unobservable input | ||||
Price (in %) | 99.00% | 100.00% | ||
Bank | Commercial and industrial loans | Market comparable | Weighted average | ||||
Unobservable input | ||||
Price (in %) | 56.00% | 61.00% | ||
Bank | Financial institutions | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | SFr 1,480 | SFr 1,426 | SFr 1,830 | SFr 1,829 |
Bank | Financial institutions | Discounted cash flow | ||||
Quantitative information about level 3 assets at fair value | ||||
Fair value, assets | SFr 1,426 | SFr 1,245 | ||
Bank | Financial institutions | Discounted cash flow | Minimum | ||||
Unobservable input | ||||
Credit spread (in bp) | 43 | 32 | ||
Bank | Financial institutions | Discounted cash flow | Maximum | ||||
Unobservable input | ||||
Credit spread (in bp) | 1,430 | 1,764 | ||
Bank | Financial institutions | Discounted cash flow | Weighted average | ||||
Unobservable input | ||||
Credit spread (in bp) | 371 | 592 |
FI - Quantitative informatio149
FI - Quantitative information about level 3 liabilities at fair value (Details 16) - Recurring basis SFr in Millions | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2017CHF (SFr) | Jun. 30, 2018CHF (SFr) | Jun. 30, 2017CHF (SFr) | Dec. 31, 2016CHF (SFr) | |
Obligation to return securities received as collateral | ||||
Quantitative information about level 3 liabilities at fair value | ||||
Fair value, liabilities | SFr 46 | SFr 9 | SFr 14 | SFr 70 |
Due to banks and customer deposits | ||||
Quantitative information about level 3 liabilities at fair value | ||||
Fair value, liabilities | 455 | 466 | 433 | 410 |
Trading Liabilities | ||||
Quantitative information about level 3 liabilities at fair value | ||||
Fair value, liabilities | 3,226 | 3,043 | 2,680 | 3,737 |
Trading Liabilities | Interest rate derivatives | ||||
Quantitative information about level 3 liabilities at fair value | ||||
Fair value, liabilities | 317 | 230 | 270 | 538 |
Trading Liabilities | Interest rate derivatives | Option model | ||||
Quantitative information about level 3 liabilities at fair value | ||||
Fair value, liabilities | SFr 205 | SFr 165 | ||
Trading Liabilities | Interest rate derivatives | Option model | Minimum | ||||
Unobservable input | ||||
Basis spread (in bp) | (25) | (31) | ||
Correlation (in %) | 20.00% | 20.00% | ||
Prepayment rate (in %) | 6.00% | 1.00% | ||
Trading Liabilities | Interest rate derivatives | Option model | Maximum | ||||
Unobservable input | ||||
Basis spread (in bp) | 52 | 147 | ||
Correlation (in %) | 100.00% | 100.00% | ||
Prepayment rate (in %) | 34.00% | 25.00% | ||
Trading Liabilities | Interest rate derivatives | Option model | Weighted average | ||||
Unobservable input | ||||
Basis spread (in bp) | 19 | 42 | ||
Correlation (in %) | 60.00% | 58.00% | ||
Prepayment rate (in %) | 9.00% | 7.00% | ||
Trading Liabilities | Interest rate derivatives | Market comparable | ||||
Quantitative information about level 3 liabilities at fair value | ||||
Fair value, liabilities | SFr 81 | |||
Trading Liabilities | Interest rate derivatives | Market comparable | Minimum | ||||
Unobservable input | ||||
Price (in %) | 1.00% | |||
Trading Liabilities | Interest rate derivatives | Market comparable | Maximum | ||||
Unobservable input | ||||
Price (in %) | 102.00% | |||
Trading Liabilities | Interest rate derivatives | Market comparable | Weighted average | ||||
Unobservable input | ||||
Price (in %) | 44.00% | |||
Trading Liabilities | Foreign exchange derivatives | ||||
Quantitative information about level 3 liabilities at fair value | ||||
Fair value, liabilities | SFr 100 | SFr 159 | 95 | 150 |
Trading Liabilities | Foreign exchange derivatives | Option model | ||||
Quantitative information about level 3 liabilities at fair value | ||||
Fair value, liabilities | SFr 64 | SFr 59 | ||
Trading Liabilities | Foreign exchange derivatives | Option model | Minimum | ||||
Unobservable input | ||||
Correlation (in %) | (10.00%) | (10.00%) | ||
Prepayment rate (in %) | 27.00% | 21.00% | ||
Trading Liabilities | Foreign exchange derivatives | Option model | Maximum | ||||
Unobservable input | ||||
Correlation (in %) | 70.00% | 70.00% | ||
Prepayment rate (in %) | 34.00% | 25.00% | ||
Trading Liabilities | Foreign exchange derivatives | Option model | Weighted average | ||||
Unobservable input | ||||
Correlation (in %) | 51.00% | 52.00% | ||
Prepayment rate (in %) | 30.00% | 23.00% | ||
Trading Liabilities | Foreign exchange derivatives | Discounted cash flow | ||||
Quantitative information about level 3 liabilities at fair value | ||||
Fair value, liabilities | SFr 7 | SFr 31 | ||
Trading Liabilities | Foreign exchange derivatives | Discounted cash flow | Minimum | ||||
Unobservable input | ||||
Credit spread (in bp) | 267 | |||
Contingent probability (in %) | 95.00% | 95.00% | ||
Trading Liabilities | Foreign exchange derivatives | Discounted cash flow | Maximum | ||||
Unobservable input | ||||
Credit spread (in bp) | 473 | |||
Contingent probability (in %) | 95.00% | 95.00% | ||
Trading Liabilities | Foreign exchange derivatives | Discounted cash flow | Weighted average | ||||
Unobservable input | ||||
Credit spread (in bp) | 426 | |||
Contingent probability (in %) | 95.00% | 95.00% | ||
Trading Liabilities | Foreign exchange derivatives | Market comparable | ||||
Quantitative information about level 3 liabilities at fair value | ||||
Fair value, liabilities | SFr 47 | |||
Trading Liabilities | Foreign exchange derivatives | Market comparable | Minimum | ||||
Unobservable input | ||||
Price (in %) | 100.00% | |||
Trading Liabilities | Foreign exchange derivatives | Market comparable | Maximum | ||||
Unobservable input | ||||
Price (in %) | 101.00% | |||
Trading Liabilities | Foreign exchange derivatives | Market comparable | Weighted average | ||||
Unobservable input | ||||
Price (in %) | 100.00% | |||
Trading Liabilities | Credit derivatives | ||||
Quantitative information about level 3 liabilities at fair value | ||||
Fair value, liabilities | SFr 898 | SFr 900 | 622 | 851 |
Trading Liabilities | Credit derivatives | Option model | ||||
Quantitative information about level 3 liabilities at fair value | ||||
Fair value, liabilities | 30 | |||
Trading Liabilities | Credit derivatives | Discounted cash flow | ||||
Quantitative information about level 3 liabilities at fair value | ||||
Fair value, liabilities | SFr 708 | |||
Trading Liabilities | Credit derivatives | Discounted cash flow | Minimum | ||||
Unobservable input | ||||
Funding spread (in bp) | 68 | |||
Correlation (in %) | 38.00% | 38.00% | ||
Credit spread (in bp) | 2 | 0 | ||
Prepayment rate (in %) | 0.00% | 0.00% | ||
Recovery rate (in %) | 10.00% | 20.00% | ||
Discount rate (in %) | 3.00% | 2.00% | ||
Default rate (in %) | 1.00% | 2.00% | ||
Loss severity (in %) | 25.00% | 16.00% | ||
Term Total Return Swap (TRS)/Repurchase spread | 176 | |||
Funding spread (in %) | 1.00% | |||
Funding rate (in %) | 14.00% | |||
Trading Liabilities | Credit derivatives | Discounted cash flow | Maximum | ||||
Unobservable input | ||||
Funding spread (in bp) | 68 | |||
Correlation (in %) | 85.00% | 82.00% | ||
Credit spread (in bp) | 973 | 2,913 | ||
Prepayment rate (in %) | 20.00% | 20.00% | ||
Recovery rate (in %) | 60.00% | 60.00% | ||
Discount rate (in %) | 50.00% | 28.00% | ||
Default rate (in %) | 20.00% | 20.00% | ||
Loss severity (in %) | 100.00% | 100.00% | ||
Term Total Return Swap (TRS)/Repurchase spread | 176 | |||
Funding spread (in %) | 2.00% | |||
Funding rate (in %) | 14.00% | |||
Trading Liabilities | Credit derivatives | Discounted cash flow | Weighted average | ||||
Unobservable input | ||||
Funding spread (in bp) | 68 | |||
Correlation (in %) | 54.00% | 49.00% | ||
Credit spread (in bp) | 172 | 378 | ||
Prepayment rate (in %) | 7.00% | 6.00% | ||
Recovery rate (in %) | 38.00% | 34.00% | ||
Discount rate (in %) | 16.00% | 15.00% | ||
Default rate (in %) | 5.00% | 4.00% | ||
Loss severity (in %) | 67.00% | 66.00% | ||
Term Total Return Swap (TRS)/Repurchase spread | 176 | |||
Funding spread (in %) | 2.00% | |||
Funding rate (in %) | 14.00% | |||
Trading Liabilities | Credit derivatives | Market comparable | ||||
Quantitative information about level 3 liabilities at fair value | ||||
Fair value, liabilities | SFr 116 | |||
Trading Liabilities | Credit derivatives | Market comparable | Minimum | ||||
Unobservable input | ||||
Price (in %) | 59.00% | |||
Trading Liabilities | Credit derivatives | Market comparable | Maximum | ||||
Unobservable input | ||||
Price (in %) | 94.00% | |||
Trading Liabilities | Credit derivatives | Market comparable | Weighted average | ||||
Unobservable input | ||||
Price (in %) | 79.00% | |||
Trading Liabilities | Equity/Index-related products | ||||
Quantitative information about level 3 liabilities at fair value | ||||
Fair value, liabilities | SFr 1,301 | SFr 1,129 | 1,061 | 1,181 |
Trading Liabilities | Equity/Index-related products | Option model | ||||
Quantitative information about level 3 liabilities at fair value | ||||
Fair value, liabilities | SFr 947 | SFr 1,100 | ||
Trading Liabilities | Equity/Index-related products | Option model | Minimum | ||||
Unobservable input | ||||
Buyback probability (in %) | 50.00% | 50.00% | ||
Correlation (in %) | (60.00%) | (60.00%) | ||
Volatility (in %) | 0.00% | 0.00% | ||
Trading Liabilities | Equity/Index-related products | Option model | Maximum | ||||
Unobservable input | ||||
Buyback probability (in %) | 100.00% | 100.00% | ||
Correlation (in %) | 98.00% | 100.00% | ||
Volatility (in %) | 105.00% | 96.00% | ||
Trading Liabilities | Equity/Index-related products | Option model | Weighted average | ||||
Unobservable input | ||||
Buyback probability (in %) | 90.00% | 75.00% | ||
Correlation (in %) | 55.00% | 68.00% | ||
Volatility (in %) | 25.00% | 28.00% | ||
Trading Liabilities | Equity/Index-related products | Vendor price | ||||
Quantitative information about level 3 liabilities at fair value | ||||
Fair value, liabilities | SFr 62 | |||
Trading Liabilities | Equity/Index-related products | Vendor price | Minimum | ||||
Unobservable input | ||||
Price (in actuals) | 0 | |||
Trading Liabilities | Equity/Index-related products | Vendor price | Maximum | ||||
Unobservable input | ||||
Price (in actuals) | 53 | |||
Trading Liabilities | Equity/Index-related products | Vendor price | Weighted average | ||||
Unobservable input | ||||
Price (in actuals) | 18 | |||
Short-term borrowings | ||||
Quantitative information about level 3 liabilities at fair value | ||||
Fair value, liabilities | SFr 845 | SFr 1,665 | 620 | 516 |
Short-term borrowings | Option model | ||||
Quantitative information about level 3 liabilities at fair value | ||||
Fair value, liabilities | SFr 288 | SFr 1,410 | ||
Short-term borrowings | Option model | Minimum | ||||
Unobservable input | ||||
Correlation (in %) | (40.00%) | (40.00%) | ||
Volatility (in %) | 4.00% | 3.00% | ||
Short-term borrowings | Option model | Maximum | ||||
Unobservable input | ||||
Correlation (in %) | 98.00% | 100.00% | ||
Volatility (in %) | 105.00% | 96.00% | ||
Short-term borrowings | Option model | Weighted average | ||||
Unobservable input | ||||
Correlation (in %) | 60.00% | 70.00% | ||
Volatility (in %) | 26.00% | 27.00% | ||
Short-term borrowings | Discounted cash flow | ||||
Quantitative information about level 3 liabilities at fair value | ||||
Fair value, liabilities | SFr 527 | SFr 252 | ||
Short-term borrowings | Discounted cash flow | Minimum | ||||
Unobservable input | ||||
Recovery rate (in %) | 25.00% | 20.00% | ||
Short-term borrowings | Discounted cash flow | Maximum | ||||
Unobservable input | ||||
Recovery rate (in %) | 40.00% | 49.00% | ||
Short-term borrowings | Discounted cash flow | Weighted average | ||||
Unobservable input | ||||
Recovery rate (in %) | 29.00% | 33.00% | ||
Short-term borrowings | Market comparable | ||||
Quantitative information about level 3 liabilities at fair value | ||||
Fair value, liabilities | SFr 24 | |||
Short-term borrowings | Market comparable | Minimum | ||||
Unobservable input | ||||
Price (in %) | 11.00% | |||
Short-term borrowings | Market comparable | Maximum | ||||
Unobservable input | ||||
Price (in %) | 47.00% | |||
Short-term borrowings | Market comparable | Weighted average | ||||
Unobservable input | ||||
Price (in %) | 47.00% | |||
Short-term borrowings | Credit derivatives | Discounted cash flow | Minimum | ||||
Unobservable input | ||||
Credit spread (in bp) | 2 | (1) | ||
Short-term borrowings | Credit derivatives | Discounted cash flow | Maximum | ||||
Unobservable input | ||||
Credit spread (in bp) | 278 | 517 | ||
Short-term borrowings | Credit derivatives | Discounted cash flow | Weighted average | ||||
Unobservable input | ||||
Credit spread (in bp) | 175 | 65 | ||
Long-term debt | ||||
Quantitative information about level 3 liabilities at fair value | ||||
Fair value, liabilities | SFr 12,501 | SFr 12,963 | 12,996 | 13,415 |
Long-term debt | Long-term debt - of which structured notes over two years | ||||
Quantitative information about level 3 liabilities at fair value | ||||
Fair value, liabilities | 12,259 | 12,155 | 11,972 | 12,434 |
Long-term debt | Long-term debt - of which structured notes over two years | Option model | ||||
Quantitative information about level 3 liabilities at fair value | ||||
Fair value, liabilities | SFr 9,739 | SFr 9,647 | ||
Long-term debt | Long-term debt - of which structured notes over two years | Option model | Minimum | ||||
Unobservable input | ||||
Buyback probability (in %) | 50.00% | 50.00% | ||
Correlation (in %) | (60.00%) | (60.00%) | ||
Gap risk (in %) | 0.00% | 0.00% | ||
Mean reversion (in %) | (14.00%) | (110.00%) | ||
Volatility (in %) | 0.00% | 0.00% | ||
Long-term debt | Long-term debt - of which structured notes over two years | Option model | Maximum | ||||
Unobservable input | ||||
Buyback probability (in %) | 100.00% | 100.00% | ||
Correlation (in %) | 99.00% | 100.00% | ||
Gap risk (in %) | 2.00% | 4.00% | ||
Mean reversion (in %) | (1.00%) | (1.00%) | ||
Volatility (in %) | 105.00% | 96.00% | ||
Long-term debt | Long-term debt - of which structured notes over two years | Option model | Weighted average | ||||
Unobservable input | ||||
Buyback probability (in %) | 90.00% | 75.00% | ||
Correlation (in %) | 55.00% | 61.00% | ||
Gap risk (in %) | 1.00% | 1.00% | ||
Mean reversion (in %) | (6.00%) | (7.00%) | ||
Volatility (in %) | 21.00% | 23.00% | ||
Long-term debt | Long-term debt - of which structured notes over two years | Discounted cash flow | ||||
Quantitative information about level 3 liabilities at fair value | ||||
Fair value, liabilities | SFr 1,571 | SFr 1,496 | ||
Long-term debt | Long-term debt - of which structured notes over two years | Discounted cash flow | Minimum | ||||
Unobservable input | ||||
Credit spread (in bp) | 2 | (14) | ||
Long-term debt | Long-term debt - of which structured notes over two years | Discounted cash flow | Maximum | ||||
Unobservable input | ||||
Credit spread (in bp) | 729 | 2,260 | ||
Long-term debt | Long-term debt - of which structured notes over two years | Discounted cash flow | Weighted average | ||||
Unobservable input | ||||
Credit spread (in bp) | 105 | 98 | ||
Other liabilities | ||||
Quantitative information about level 3 liabilities at fair value | ||||
Fair value, liabilities | SFr 1,478 | SFr 1,096 | 1,355 | 1,684 |
Other liabilities | Other liabilities - of which failed sales | ||||
Quantitative information about level 3 liabilities at fair value | ||||
Fair value, liabilities | 223 | 99 | 199 | 219 |
Other liabilities | Other liabilities - of which failed sales | Discounted cash flow | ||||
Quantitative information about level 3 liabilities at fair value | ||||
Fair value, liabilities | SFr 25 | |||
Other liabilities | Other liabilities - of which failed sales | Discounted cash flow | Minimum | ||||
Unobservable input | ||||
Credit spread (in bp) | 1,430 | |||
Other liabilities | Other liabilities - of which failed sales | Discounted cash flow | Maximum | ||||
Unobservable input | ||||
Credit spread (in bp) | 1,430 | |||
Other liabilities | Other liabilities - of which failed sales | Discounted cash flow | Weighted average | ||||
Unobservable input | ||||
Credit spread (in bp) | 1,430 | |||
Other liabilities | Other liabilities - of which failed sales | Market comparable | ||||
Quantitative information about level 3 liabilities at fair value | ||||
Fair value, liabilities | SFr 122 | SFr 67 | ||
Other liabilities | Other liabilities - of which failed sales | Market comparable | Minimum | ||||
Unobservable input | ||||
Price (in %) | 0.00% | 0.00% | ||
Other liabilities | Other liabilities - of which failed sales | Market comparable | Maximum | ||||
Unobservable input | ||||
Price (in %) | 100.00% | 101.00% | ||
Other liabilities | Other liabilities - of which failed sales | Market comparable | Weighted average | ||||
Unobservable input | ||||
Price (in %) | 51.00% | 52.00% | ||
Liabilities | ||||
Quantitative information about level 3 liabilities at fair value | ||||
Fair value, liabilities | SFr 18,551 | SFr 19,242 | 18,098 | 19,832 |
Bank | Obligation to return securities received as collateral | ||||
Quantitative information about level 3 liabilities at fair value | ||||
Fair value, liabilities | 46 | 9 | 14 | 70 |
Bank | Due to banks and customer deposits | ||||
Quantitative information about level 3 liabilities at fair value | ||||
Fair value, liabilities | 455 | 466 | 433 | 410 |
Bank | Trading Liabilities | ||||
Quantitative information about level 3 liabilities at fair value | ||||
Fair value, liabilities | 3,226 | 3,043 | 2,680 | 3,737 |
Bank | Trading Liabilities | Interest rate derivatives | ||||
Quantitative information about level 3 liabilities at fair value | ||||
Fair value, liabilities | 317 | 230 | 270 | 538 |
Bank | Trading Liabilities | Interest rate derivatives | Option model | ||||
Quantitative information about level 3 liabilities at fair value | ||||
Fair value, liabilities | SFr 205 | SFr 165 | ||
Bank | Trading Liabilities | Interest rate derivatives | Option model | Minimum | ||||
Unobservable input | ||||
Basis spread (in bp) | (25) | (31) | ||
Correlation (in %) | 20.00% | 20.00% | ||
Prepayment rate (in %) | 6.00% | 1.00% | ||
Bank | Trading Liabilities | Interest rate derivatives | Option model | Maximum | ||||
Unobservable input | ||||
Basis spread (in bp) | 52 | 147 | ||
Correlation (in %) | 100.00% | 100.00% | ||
Prepayment rate (in %) | 34.00% | 25.00% | ||
Bank | Trading Liabilities | Interest rate derivatives | Option model | Weighted average | ||||
Unobservable input | ||||
Basis spread (in bp) | 19 | 42 | ||
Correlation (in %) | 60.00% | 58.00% | ||
Prepayment rate (in %) | 9.00% | 7.00% | ||
Bank | Trading Liabilities | Interest rate derivatives | Market comparable | ||||
Quantitative information about level 3 liabilities at fair value | ||||
Fair value, liabilities | SFr 81 | |||
Bank | Trading Liabilities | Interest rate derivatives | Market comparable | Minimum | ||||
Unobservable input | ||||
Price (in %) | 1.00% | |||
Bank | Trading Liabilities | Interest rate derivatives | Market comparable | Maximum | ||||
Unobservable input | ||||
Price (in %) | 102.00% | |||
Bank | Trading Liabilities | Interest rate derivatives | Market comparable | Weighted average | ||||
Unobservable input | ||||
Price (in %) | 44.00% | |||
Bank | Trading Liabilities | Foreign exchange derivatives | ||||
Quantitative information about level 3 liabilities at fair value | ||||
Fair value, liabilities | SFr 100 | SFr 159 | 95 | 150 |
Bank | Trading Liabilities | Foreign exchange derivatives | Option model | ||||
Quantitative information about level 3 liabilities at fair value | ||||
Fair value, liabilities | SFr 64 | SFr 59 | ||
Bank | Trading Liabilities | Foreign exchange derivatives | Option model | Minimum | ||||
Unobservable input | ||||
Correlation (in %) | (10.00%) | (10.00%) | ||
Prepayment rate (in %) | 27.00% | 21.00% | ||
Bank | Trading Liabilities | Foreign exchange derivatives | Option model | Maximum | ||||
Unobservable input | ||||
Correlation (in %) | 70.00% | 70.00% | ||
Prepayment rate (in %) | 34.00% | 25.00% | ||
Bank | Trading Liabilities | Foreign exchange derivatives | Option model | Weighted average | ||||
Unobservable input | ||||
Correlation (in %) | 51.00% | 52.00% | ||
Prepayment rate (in %) | 30.00% | 23.00% | ||
Bank | Trading Liabilities | Foreign exchange derivatives | Discounted cash flow | ||||
Quantitative information about level 3 liabilities at fair value | ||||
Fair value, liabilities | SFr 7 | SFr 31 | ||
Bank | Trading Liabilities | Foreign exchange derivatives | Discounted cash flow | Minimum | ||||
Unobservable input | ||||
Credit spread (in bp) | 267 | |||
Contingent probability (in %) | 95.00% | 95.00% | ||
Bank | Trading Liabilities | Foreign exchange derivatives | Discounted cash flow | Maximum | ||||
Unobservable input | ||||
Credit spread (in bp) | 473 | |||
Contingent probability (in %) | 95.00% | 95.00% | ||
Bank | Trading Liabilities | Foreign exchange derivatives | Discounted cash flow | Weighted average | ||||
Unobservable input | ||||
Credit spread (in bp) | 426 | |||
Contingent probability (in %) | 95.00% | 95.00% | ||
Bank | Trading Liabilities | Foreign exchange derivatives | Market comparable | ||||
Quantitative information about level 3 liabilities at fair value | ||||
Fair value, liabilities | SFr 47 | |||
Bank | Trading Liabilities | Foreign exchange derivatives | Market comparable | Minimum | ||||
Unobservable input | ||||
Price (in %) | 100.00% | |||
Bank | Trading Liabilities | Foreign exchange derivatives | Market comparable | Maximum | ||||
Unobservable input | ||||
Price (in %) | 101.00% | |||
Bank | Trading Liabilities | Foreign exchange derivatives | Market comparable | Weighted average | ||||
Unobservable input | ||||
Price (in %) | 100.00% | |||
Bank | Trading Liabilities | Credit derivatives | ||||
Quantitative information about level 3 liabilities at fair value | ||||
Fair value, liabilities | SFr 898 | SFr 900 | 622 | 851 |
Bank | Trading Liabilities | Credit derivatives | Option model | ||||
Quantitative information about level 3 liabilities at fair value | ||||
Fair value, liabilities | SFr 30 | |||
Bank | Trading Liabilities | Credit derivatives | Option model | Minimum | ||||
Unobservable input | ||||
Funding spread (in bp) | 68 | |||
Bank | Trading Liabilities | Credit derivatives | Option model | Maximum | ||||
Unobservable input | ||||
Funding spread (in bp) | 68 | |||
Bank | Trading Liabilities | Credit derivatives | Option model | Weighted average | ||||
Unobservable input | ||||
Funding spread (in bp) | 68 | |||
Bank | Trading Liabilities | Credit derivatives | Discounted cash flow | ||||
Quantitative information about level 3 liabilities at fair value | ||||
Fair value, liabilities | SFr 708 | |||
Bank | Trading Liabilities | Credit derivatives | Discounted cash flow | Minimum | ||||
Unobservable input | ||||
Correlation (in %) | 38.00% | 38.00% | ||
Credit spread (in bp) | 2 | 0 | ||
Prepayment rate (in %) | 0.00% | 0.00% | ||
Recovery rate (in %) | 10.00% | 20.00% | ||
Discount rate (in %) | 3.00% | 2.00% | ||
Default rate (in %) | 1.00% | 2.00% | ||
Loss severity (in %) | 25.00% | 16.00% | ||
Term Total Return Swap (TRS)/Repurchase spread | 176 | |||
Funding spread (in %) | 1.00% | |||
Funding rate (in %) | 14.00% | |||
Bank | Trading Liabilities | Credit derivatives | Discounted cash flow | Maximum | ||||
Unobservable input | ||||
Correlation (in %) | 85.00% | 82.00% | ||
Credit spread (in bp) | 973 | 2,913 | ||
Prepayment rate (in %) | 20.00% | 20.00% | ||
Recovery rate (in %) | 60.00% | 60.00% | ||
Discount rate (in %) | 50.00% | 28.00% | ||
Default rate (in %) | 20.00% | 20.00% | ||
Loss severity (in %) | 100.00% | 100.00% | ||
Term Total Return Swap (TRS)/Repurchase spread | 176 | |||
Funding spread (in %) | 2.00% | |||
Funding rate (in %) | 14.00% | |||
Bank | Trading Liabilities | Credit derivatives | Discounted cash flow | Weighted average | ||||
Unobservable input | ||||
Correlation (in %) | 54.00% | 49.00% | ||
Credit spread (in bp) | 172 | 378 | ||
Prepayment rate (in %) | 7.00% | 6.00% | ||
Recovery rate (in %) | 38.00% | 34.00% | ||
Discount rate (in %) | 16.00% | 15.00% | ||
Default rate (in %) | 5.00% | 4.00% | ||
Loss severity (in %) | 67.00% | 66.00% | ||
Term Total Return Swap (TRS)/Repurchase spread | 176 | |||
Funding spread (in %) | 2.00% | |||
Funding rate (in %) | 14.00% | |||
Bank | Trading Liabilities | Credit derivatives | Market comparable | ||||
Quantitative information about level 3 liabilities at fair value | ||||
Fair value, liabilities | SFr 116 | |||
Bank | Trading Liabilities | Credit derivatives | Market comparable | Minimum | ||||
Unobservable input | ||||
Price (in %) | 59.00% | |||
Bank | Trading Liabilities | Credit derivatives | Market comparable | Maximum | ||||
Unobservable input | ||||
Price (in %) | 94.00% | |||
Bank | Trading Liabilities | Credit derivatives | Market comparable | Weighted average | ||||
Unobservable input | ||||
Price (in %) | 79.00% | |||
Bank | Trading Liabilities | Equity/Index-related products | ||||
Quantitative information about level 3 liabilities at fair value | ||||
Fair value, liabilities | SFr 1,301 | SFr 1,129 | 1,061 | 1,181 |
Bank | Trading Liabilities | Equity/Index-related products | Option model | ||||
Quantitative information about level 3 liabilities at fair value | ||||
Fair value, liabilities | SFr 947 | SFr 1,100 | ||
Bank | Trading Liabilities | Equity/Index-related products | Option model | Minimum | ||||
Unobservable input | ||||
Buyback probability (in %) | 50.00% | 50.00% | ||
Correlation (in %) | (60.00%) | (60.00%) | ||
Volatility (in %) | 0.00% | 0.00% | ||
Bank | Trading Liabilities | Equity/Index-related products | Option model | Maximum | ||||
Unobservable input | ||||
Buyback probability (in %) | 100.00% | 100.00% | ||
Correlation (in %) | 98.00% | 100.00% | ||
Volatility (in %) | 105.00% | 96.00% | ||
Bank | Trading Liabilities | Equity/Index-related products | Option model | Weighted average | ||||
Unobservable input | ||||
Buyback probability (in %) | 90.00% | 75.00% | ||
Correlation (in %) | 55.00% | 68.00% | ||
Volatility (in %) | 25.00% | 28.00% | ||
Bank | Trading Liabilities | Equity/Index-related products | Vendor price | ||||
Quantitative information about level 3 liabilities at fair value | ||||
Fair value, liabilities | SFr 62 | |||
Bank | Trading Liabilities | Equity/Index-related products | Vendor price | Minimum | ||||
Unobservable input | ||||
Price (in actuals) | 0 | |||
Bank | Trading Liabilities | Equity/Index-related products | Vendor price | Maximum | ||||
Unobservable input | ||||
Price (in actuals) | 53 | |||
Bank | Trading Liabilities | Equity/Index-related products | Vendor price | Weighted average | ||||
Unobservable input | ||||
Price (in actuals) | 18 | |||
Bank | Short-term borrowings | ||||
Quantitative information about level 3 liabilities at fair value | ||||
Fair value, liabilities | SFr 845 | SFr 1,665 | 620 | 516 |
Bank | Short-term borrowings | Option model | ||||
Quantitative information about level 3 liabilities at fair value | ||||
Fair value, liabilities | SFr 288 | SFr 1,410 | ||
Bank | Short-term borrowings | Option model | Minimum | ||||
Unobservable input | ||||
Correlation (in %) | (40.00%) | (40.00%) | ||
Volatility (in %) | 4.00% | 3.00% | ||
Bank | Short-term borrowings | Option model | Maximum | ||||
Unobservable input | ||||
Correlation (in %) | 98.00% | 100.00% | ||
Volatility (in %) | 105.00% | 96.00% | ||
Bank | Short-term borrowings | Option model | Weighted average | ||||
Unobservable input | ||||
Correlation (in %) | 60.00% | 70.00% | ||
Volatility (in %) | 26.00% | 27.00% | ||
Bank | Short-term borrowings | Discounted cash flow | ||||
Quantitative information about level 3 liabilities at fair value | ||||
Fair value, liabilities | SFr 527 | SFr 252 | ||
Bank | Short-term borrowings | Discounted cash flow | Minimum | ||||
Unobservable input | ||||
Credit spread (in bp) | 2 | |||
Recovery rate (in %) | 25.00% | 20.00% | ||
Bank | Short-term borrowings | Discounted cash flow | Maximum | ||||
Unobservable input | ||||
Credit spread (in bp) | 278 | |||
Recovery rate (in %) | 40.00% | 49.00% | ||
Bank | Short-term borrowings | Discounted cash flow | Weighted average | ||||
Unobservable input | ||||
Credit spread (in bp) | 175 | |||
Recovery rate (in %) | 29.00% | 33.00% | ||
Bank | Short-term borrowings | Market comparable | ||||
Quantitative information about level 3 liabilities at fair value | ||||
Fair value, liabilities | SFr 24 | |||
Bank | Short-term borrowings | Market comparable | Minimum | ||||
Unobservable input | ||||
Price (in %) | 11.00% | |||
Bank | Short-term borrowings | Market comparable | Maximum | ||||
Unobservable input | ||||
Price (in %) | 47.00% | |||
Bank | Short-term borrowings | Market comparable | Weighted average | ||||
Unobservable input | ||||
Price (in %) | 47.00% | |||
Bank | Short-term borrowings | Credit derivatives | Discounted cash flow | Minimum | ||||
Unobservable input | ||||
Credit spread (in bp) | (1) | |||
Bank | Short-term borrowings | Credit derivatives | Discounted cash flow | Maximum | ||||
Unobservable input | ||||
Credit spread (in bp) | 517 | |||
Bank | Short-term borrowings | Credit derivatives | Discounted cash flow | Weighted average | ||||
Unobservable input | ||||
Credit spread (in bp) | 65 | |||
Bank | Long-term debt | ||||
Quantitative information about level 3 liabilities at fair value | ||||
Fair value, liabilities | SFr 12,501 | SFr 12,963 | 12,996 | 13,415 |
Bank | Long-term debt | Long-term debt - of which structured notes over two years | ||||
Quantitative information about level 3 liabilities at fair value | ||||
Fair value, liabilities | 12,259 | 12,155 | 11,972 | 12,434 |
Bank | Long-term debt | Long-term debt - of which structured notes over two years | Option model | ||||
Quantitative information about level 3 liabilities at fair value | ||||
Fair value, liabilities | SFr 9,739 | SFr 9,647 | ||
Bank | Long-term debt | Long-term debt - of which structured notes over two years | Option model | Minimum | ||||
Unobservable input | ||||
Buyback probability (in %) | 50.00% | 50.00% | ||
Correlation (in %) | (60.00%) | (60.00%) | ||
Gap risk (in %) | 0.00% | 0.00% | ||
Mean reversion (in %) | (14.00%) | (110.00%) | ||
Volatility (in %) | 0.00% | 0.00% | ||
Bank | Long-term debt | Long-term debt - of which structured notes over two years | Option model | Maximum | ||||
Unobservable input | ||||
Buyback probability (in %) | 100.00% | 100.00% | ||
Correlation (in %) | 99.00% | 100.00% | ||
Gap risk (in %) | 2.00% | 4.00% | ||
Mean reversion (in %) | (1.00%) | (1.00%) | ||
Volatility (in %) | 105.00% | 96.00% | ||
Bank | Long-term debt | Long-term debt - of which structured notes over two years | Option model | Weighted average | ||||
Unobservable input | ||||
Buyback probability (in %) | 90.00% | 75.00% | ||
Correlation (in %) | 55.00% | 61.00% | ||
Gap risk (in %) | 1.00% | 1.00% | ||
Mean reversion (in %) | (6.00%) | (7.00%) | ||
Volatility (in %) | 21.00% | 23.00% | ||
Bank | Long-term debt | Long-term debt - of which structured notes over two years | Discounted cash flow | ||||
Quantitative information about level 3 liabilities at fair value | ||||
Fair value, liabilities | SFr 1,571 | SFr 1,496 | ||
Bank | Long-term debt | Long-term debt - of which structured notes over two years | Discounted cash flow | Minimum | ||||
Unobservable input | ||||
Credit spread (in bp) | 2 | (14) | ||
Bank | Long-term debt | Long-term debt - of which structured notes over two years | Discounted cash flow | Maximum | ||||
Unobservable input | ||||
Credit spread (in bp) | 729 | 2,260 | ||
Bank | Long-term debt | Long-term debt - of which structured notes over two years | Discounted cash flow | Weighted average | ||||
Unobservable input | ||||
Credit spread (in bp) | 105 | 98 | ||
Bank | Other liabilities | ||||
Quantitative information about level 3 liabilities at fair value | ||||
Fair value, liabilities | SFr 1,467 | SFr 1,085 | 1,349 | 1,679 |
Bank | Other liabilities | Other liabilities - of which failed sales | ||||
Quantitative information about level 3 liabilities at fair value | ||||
Fair value, liabilities | 223 | 99 | 199 | 219 |
Bank | Other liabilities | Other liabilities - of which failed sales | Discounted cash flow | ||||
Quantitative information about level 3 liabilities at fair value | ||||
Fair value, liabilities | SFr 25 | |||
Bank | Other liabilities | Other liabilities - of which failed sales | Discounted cash flow | Minimum | ||||
Unobservable input | ||||
Credit spread (in bp) | 1,430 | |||
Bank | Other liabilities | Other liabilities - of which failed sales | Discounted cash flow | Maximum | ||||
Unobservable input | ||||
Credit spread (in bp) | 1,430 | |||
Bank | Other liabilities | Other liabilities - of which failed sales | Discounted cash flow | Weighted average | ||||
Unobservable input | ||||
Credit spread (in bp) | 1,430 | |||
Bank | Other liabilities | Other liabilities - of which failed sales | Market comparable | ||||
Quantitative information about level 3 liabilities at fair value | ||||
Fair value, liabilities | SFr 122 | SFr 67 | ||
Bank | Other liabilities | Other liabilities - of which failed sales | Market comparable | Minimum | ||||
Unobservable input | ||||
Price (in %) | 0.00% | 0.00% | ||
Bank | Other liabilities | Other liabilities - of which failed sales | Market comparable | Maximum | ||||
Unobservable input | ||||
Price (in %) | 100.00% | 101.00% | ||
Bank | Other liabilities | Other liabilities - of which failed sales | Market comparable | Weighted average | ||||
Unobservable input | ||||
Price (in %) | 51.00% | 52.00% | ||
Bank | Liabilities | ||||
Quantitative information about level 3 liabilities at fair value | ||||
Fair value, liabilities | SFr 18,540 | SFr 19,231 | SFr 18,092 | SFr 19,827 |
FI - Carrying value and fair va
FI - Carrying value and fair value not held at fair value (Details 17) - CHF (SFr) SFr in Millions | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 |
Financial assets | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | SFr 75,706 | SFr 85,086 | SFr 77,498 |
Investment securities | 2,331 | 2,146 | 2,191 |
Loans | 15,711 | 14,717 | 15,307 |
Other assets | 9,743 | 9,931 | 9,018 |
Financial liabilities | |||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 9,457 | 15,740 | 15,262 |
Short-term borrowings | 11,675 | 11,535 | 11,019 |
Long-term debt | 62,205 | 61,536 | 63,628 |
Other liabilities | 7,750 | SFr 8,296 | 8,624 |
Carrying value of financial instruments not carried at fair value | |||
Financial assets | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 41,911 | 37,848 | |
Loans | 268,274 | 260,093 | |
Other assets | 129,114 | 170,870 | |
Financial liabilities | |||
Due to banks and deposits | 381,290 | 372,867 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 10,429 | 11,233 | |
Short-term borrowings | 18,898 | 14,871 | |
Long-term debt | 103,757 | 109,403 | |
Other liabilities | 17,668 | 61,316 | |
Estimate of fair value | |||
Financial assets | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 41,912 | 37,848 | |
Loans | 275,857 | 267,502 | |
Other assets | 129,277 | 171,223 | |
Financial liabilities | |||
Due to banks and deposits | 381,246 | 372,856 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 10,431 | 11,233 | |
Short-term borrowings | 18,900 | 14,870 | |
Long-term debt | 104,338 | 112,723 | |
Other liabilities | 17,776 | 61,303 | |
Estimate of fair value | Level 1 | |||
Financial assets | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 0 | 0 | |
Loans | 0 | 0 | |
Other assets | 112,421 | 109,645 | |
Financial liabilities | |||
Due to banks and deposits | 201,135 | 201,575 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 19 | 0 | |
Short-term borrowings | 0 | 0 | |
Long-term debt | 0 | 0 | |
Other liabilities | 4 | 0 | |
Estimate of fair value | Level 2 | |||
Financial assets | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 41,912 | 37,848 | |
Loans | 270,720 | 264,290 | |
Other assets | 16,126 | 60,469 | |
Financial liabilities | |||
Due to banks and deposits | 180,111 | 171,281 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 10,412 | 11,233 | |
Short-term borrowings | 18,900 | 14,870 | |
Long-term debt | 103,920 | 112,488 | |
Other liabilities | 17,635 | 61,131 | |
Estimate of fair value | Level 3 | |||
Financial assets | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 0 | 0 | |
Loans | 5,137 | 3,212 | |
Other assets | 730 | 1,109 | |
Financial liabilities | |||
Due to banks and deposits | 0 | 0 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 0 | 0 | |
Short-term borrowings | 0 | 0 | |
Long-term debt | 418 | 235 | |
Other liabilities | 137 | 172 | |
Bank | |||
Financial assets | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 75,706 | 77,498 | |
Investment securities | 2,329 | 2,189 | |
Loans | 15,711 | 15,307 | |
Other assets | 9,743 | 9,018 | |
Financial liabilities | |||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 9,457 | 15,262 | |
Short-term borrowings | 11,675 | 11,019 | |
Long-term debt | 61,272 | 62,622 | |
Other liabilities | 7,735 | 8,590 | |
Bank | Carrying value of financial instruments not carried at fair value | |||
Financial assets | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 41,911 | 37,848 | |
Loans | 273,792 | 264,181 | |
Other assets | 128,543 | 170,687 | |
Financial liabilities | |||
Due to banks and deposits | 382,714 | 374,006 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 10,429 | 11,233 | |
Short-term borrowings | 19,395 | 15,359 | |
Long-term debt | 103,838 | 109,420 | |
Other liabilities | 17,970 | 61,701 | |
Bank | Estimate of fair value | |||
Financial assets | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 41,912 | 37,848 | |
Loans | 281,376 | 271,592 | |
Other assets | 128,705 | 171,040 | |
Financial liabilities | |||
Due to banks and deposits | 382,670 | 373,995 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 10,431 | 11,233 | |
Short-term borrowings | 19,397 | 15,359 | |
Long-term debt | 104,579 | 112,799 | |
Other liabilities | 18,078 | 61,689 | |
Bank | Estimate of fair value | Level 1 | |||
Financial assets | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 0 | 0 | |
Loans | 0 | 0 | |
Other assets | 111,541 | 109,414 | |
Financial liabilities | |||
Due to banks and deposits | 202,219 | 202,164 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 19 | 0 | |
Short-term borrowings | 0 | 0 | |
Long-term debt | 0 | 0 | |
Other liabilities | 3 | 0 | |
Bank | Estimate of fair value | Level 2 | |||
Financial assets | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 41,912 | 37,848 | |
Loans | 276,239 | 268,380 | |
Other assets | 16,436 | 60,518 | |
Financial liabilities | |||
Due to banks and deposits | 180,451 | 171,831 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 10,412 | 11,233 | |
Short-term borrowings | 19,397 | 15,359 | |
Long-term debt | 104,161 | 112,564 | |
Other liabilities | 17,938 | 61,543 | |
Bank | Estimate of fair value | Level 3 | |||
Financial assets | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 0 | 0 | |
Loans | 5,137 | 3,212 | |
Other assets | 728 | 1,108 | |
Financial liabilities | |||
Due to banks and deposits | 0 | 0 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 0 | 0 | |
Short-term borrowings | 0 | 0 | |
Long-term debt | 418 | 235 | |
Other liabilities | SFr 137 | SFr 146 |
FI - Own credit gains_(losses)
FI - Own credit gains/(losses) on fair value option elected instruments (Details 18) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Financial instruments | ||||
Gains/(losses) recorded into AOCI | SFr 820 | SFr (617) | ||
Gains/(losses) recorded into AOCI, Cumulatively | (1,436) | SFr (1,436) | ||
Gains/(losses) recorded into AOCI transferred to net income | 27 | (2) | ||
Due to banks and customer deposits | ||||
Financial instruments | ||||
Gains/(losses) recorded into AOCI | 4 | (4) | ||
Gains/(losses) recorded into AOCI, Cumulatively | (36) | (36) | ||
Gains/(losses) recorded into AOCI transferred to net income | 0 | 0 | ||
Short-term borrowings | ||||
Financial instruments | ||||
Gains/(losses) recorded into AOCI | (18) | 0 | ||
Gains/(losses) recorded into AOCI, Cumulatively | (60) | (60) | ||
Gains/(losses) recorded into AOCI transferred to net income | 2 | 0 | ||
Long-term debt | ||||
Financial instruments | ||||
Gains/(losses) recorded into AOCI | 834 | (613) | ||
Gains/(losses) recorded into AOCI, Cumulatively | (1,340) | (1,340) | ||
Gains/(losses) recorded into AOCI transferred to net income | 25 | (2) | ||
Long-term debt - of which structured notes over two years | ||||
Financial instruments | ||||
Gains/(losses) recorded into AOCI | 526 | (423) | ||
Gains/(losses) recorded into AOCI, Cumulatively | (1,180) | (1,180) | ||
Gains/(losses) recorded into AOCI transferred to net income | 25 | (7) | ||
Long-term debt - of which treasury debt over two years | ||||
Financial instruments | ||||
Gains/(losses) recorded into AOCI | 284 | (209) | ||
Gains/(losses) recorded into AOCI, Cumulatively | (179) | (179) | ||
Gains/(losses) recorded into AOCI transferred to net income | 0 | SFr 0 | ||
Bank | ||||
Financial instruments | ||||
Gains/(losses) recorded into AOCI | 1,123 | SFr (993) | ||
Gains/(losses) recorded into AOCI, Cumulatively | (1,382) | (1,382) | ||
Gains/(losses) recorded into AOCI transferred to net income | 34 | (2) | ||
Bank | Due to banks and customer deposits | ||||
Financial instruments | ||||
Gains/(losses) recorded into AOCI | 15 | (8) | ||
Gains/(losses) recorded into AOCI, Cumulatively | (36) | (36) | ||
Gains/(losses) recorded into AOCI transferred to net income | 0 | 0 | ||
Bank | Short-term borrowings | ||||
Financial instruments | ||||
Gains/(losses) recorded into AOCI | 0 | 0 | ||
Gains/(losses) recorded into AOCI, Cumulatively | (60) | (60) | ||
Gains/(losses) recorded into AOCI transferred to net income | 2 | 0 | ||
Bank | Long-term debt | ||||
Financial instruments | ||||
Gains/(losses) recorded into AOCI | 1,108 | (985) | ||
Gains/(losses) recorded into AOCI, Cumulatively | (1,286) | (1,286) | ||
Gains/(losses) recorded into AOCI transferred to net income | 32 | (2) | ||
Bank | Long-term debt - of which structured notes over two years | ||||
Financial instruments | ||||
Gains/(losses) recorded into AOCI | 652 | (647) | ||
Gains/(losses) recorded into AOCI, Cumulatively | (1,180) | (1,180) | ||
Gains/(losses) recorded into AOCI transferred to net income | 32 | (7) | ||
Bank | Long-term debt - of which treasury debt over two years | ||||
Financial instruments | ||||
Gains/(losses) recorded into AOCI | 418 | (332) | ||
Gains/(losses) recorded into AOCI, Cumulatively | SFr (126) | (126) | ||
Gains/(losses) recorded into AOCI transferred to net income | SFr 0 | SFr 0 |
Assets pledged and collatera152
Assets pledged and collateral (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Dec. 31, 2017 | Jun. 30, 2018 | Dec. 31, 2017 | |
Assets pledged and collateral | ||||
Total assets pledged or assigned as collateral | SFr 122,349 | SFr 130,038 | SFr 122,349 | SFr 130,038 |
of which encumbered | 61,237 | 73,189 | 61,237 | 73,189 |
Fair value of collateral received with the right to sell or repledge | 456,723 | 433,190 | 456,723 | 433,190 |
of which sold or repledged | 211,771 | 212,155 | ||
Bank | ||||
Assets pledged and collateral | ||||
Total assets pledged or assigned as collateral | 122,349 | 130,038 | 122,349 | 130,038 |
of which encumbered | 61,237 | 73,189 | 61,237 | 73,189 |
Fair value of collateral received with the right to sell or repledge | SFr 456,723 | SFr 433,190 | 456,723 | 433,190 |
of which sold or repledged | SFr 211,771 | SFr 212,155 |
Litigation (Details)
Litigation (Details) SFr in Millions, $ in Millions | 1 Months Ended | 3 Months Ended | |
Jul. 31, 2018USD ($) | Jun. 30, 2018CHF (SFr) | Jun. 30, 2018USD ($) | |
Pending Litigation | |||
Litigation disclosures | |||
Net litigation provisions recorded | SFr | SFr 94 | ||
Pending Litigation | Minimum | |||
Litigation provisions | |||
Range of possible losses that are not covered by existing provisions | SFr | 0 | ||
Pending Litigation | Maximum | |||
Litigation provisions | |||
Range of possible losses that are not covered by existing provisions | SFr | SFr 1,500 | ||
Litigation Hiring pracices investigation | US Securities and Exchange Commission (SEC) | |||
Litigation disclosures | |||
Litigation Settlement, Amount Awarded to Other Party | $ 29.7 | ||
Credit Suisse Securities (USA) LLC | Mortgage-related matters - Individual investor actions | Phoenix Light SF Ltd. | Supreme Court for the State of New York, New York County (SCNY) | |||
Litigation disclosures | |||
Value of RMBS issued by third party underwritten by CSS LLC | $ 281 | ||
Credit Suisse Securities (USA) LLC | Mortgage-related matters - Individual investor actions | Federal Home Loan Banks of Seattle, and Boston - Seatle action | Various state courts | |||
Litigation disclosures | |||
Value of RMBS issued by third party underwritten by CSS LLC | 104 | ||
Credit Suisse Securities (USA) LLC | Mortgage-related matters - Individual investor actions | Tennessee Consolidated Retirement System | Tennessee State Court | |||
Litigation disclosures | |||
Value of RMBS issued by third party underwritten by CSS LLC | $ 24 | ||
Credit Suisse Hong Kong Limited [Member] | Litigation Hiring pracices investigation | United States Department of Justice (DOJ) | |||
Litigation disclosures | |||
of which fines | $ 47 |
Subsidiary guarantee informa154
Subsidiary guarantee information - Income statement related (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 | |
Condensed consolidating statements of operations | |||||
Interest and dividend income | SFr 5,090 | SFr 4,451 | SFr 4,602 | SFr 9,541 | SFr 8,644 |
Interest expense | (3,497) | (2,866) | (2,865) | (6,363) | (5,274) |
Net interest income | 1,593 | 1,585 | 1,737 | 3,178 | 3,370 |
Commissions and fees | 3,159 | 3,046 | 2,905 | 6,205 | 5,951 |
Trading revenues | 528 | 578 | 237 | 1,106 | 811 |
Other revenues | 315 | 427 | 326 | 742 | 607 |
Net revenues | 5,595 | 5,636 | 5,205 | 11,231 | 10,739 |
Provision for credit losses | 73 | 48 | 82 | 121 | 135 |
Compensation and benefits | 2,547 | 2,538 | 2,595 | 5,085 | 5,300 |
General and administrative expenses | 1,420 | 1,508 | 1,527 | 2,928 | 3,128 |
Commission expenses | 328 | 344 | 350 | 672 | 718 |
Restructuring expenses | 175 | 144 | 69 | 319 | 206 |
Total other operating expenses | 1,923 | 1,996 | 1,946 | 3,919 | 4,052 |
Total operating expenses | 4,470 | 4,534 | 4,541 | 9,004 | 9,352 |
Income/(loss) before taxes | 1,052 | 1,054 | 582 | 2,106 | 1,252 |
Income tax expense/(benefit) | 398 | 362 | 276 | 760 | 354 |
Net income/(loss) | 654 | 692 | 306 | 1,346 | 898 |
Net income/(loss) attributable to noncontrolling interests | 7 | (2) | 3 | 5 | (1) |
Net income/(loss) attributable to shareholders | 647 | SFr 694 | 303 | 1,341 | 899 |
Eliminations and consolidation adjustments | |||||
Condensed consolidating statements of operations | |||||
Interest and dividend income | (206) | (138) | (389) | (266) | |
Interest expense | 185 | 143 | 350 | 222 | |
Net interest income | (21) | 5 | (39) | (44) | |
Commissions and fees | 32 | 29 | 65 | 63 | |
Trading revenues | 17 | (11) | 49 | 41 | |
Other revenues | (711) | (350) | (1,412) | (962) | |
Net revenues | (683) | (327) | (1,337) | (902) | |
Provision for credit losses | 0 | 0 | 0 | 0 | |
Compensation and benefits | 179 | (1) | 352 | (23) | |
General and administrative expenses | (319) | (80) | (628) | (130) | |
Commission expenses | 0 | 0 | 0 | 0 | |
Restructuring expenses | 30 | 8 | 62 | 51 | |
Total other operating expenses | (289) | (72) | (566) | (79) | |
Total operating expenses | (110) | (73) | (214) | (102) | |
Income/(loss) before taxes | (573) | (254) | (1,123) | (800) | |
Income tax expense/(benefit) | 67 | (17) | 130 | (33) | |
Net income/(loss) | (640) | (237) | (1,253) | (767) | |
Net income/(loss) attributable to noncontrolling interests | (2) | 3 | (4) | 1 | |
Net income/(loss) attributable to shareholders | (638) | (240) | (1,249) | (768) | |
Group parent company | |||||
Condensed consolidating statements of operations | |||||
Interest and dividend income | 202 | 138 | 384 | 265 | |
Interest expense | (215) | (151) | (410) | (291) | |
Net interest income | (13) | (13) | (26) | (26) | |
Commissions and fees | 7 | 7 | 14 | 14 | |
Trading revenues | (23) | (1) | 9 | (4) | |
Other revenues | 696 | 321 | 1,375 | 917 | |
Net revenues | 667 | 314 | 1,372 | 901 | |
Provision for credit losses | 0 | 0 | 0 | 0 | |
Compensation and benefits | 15 | 19 | 32 | 35 | |
General and administrative expenses | 4 | (12) | (2) | (34) | |
Commission expenses | 0 | 0 | 0 | 0 | |
Restructuring expenses | 0 | 0 | 0 | 0 | |
Total other operating expenses | 4 | (12) | (2) | (34) | |
Total operating expenses | 19 | 7 | 30 | 1 | |
Income/(loss) before taxes | 648 | 307 | 1,342 | 900 | |
Income tax expense/(benefit) | 1 | 4 | 1 | 1 | |
Net income/(loss) | 647 | 303 | 1,341 | 899 | |
Net income/(loss) attributable to noncontrolling interests | 0 | 0 | 0 | 0 | |
Net income/(loss) attributable to shareholders | 647 | 303 | 1,341 | 899 | |
Bank | |||||
Condensed consolidating statements of operations | |||||
Interest and dividend income | 5,094 | 4,602 | 9,546 | 8,645 | |
Interest expense | (3,467) | (2,857) | (6,303) | (5,205) | |
Net interest income | 1,627 | 1,745 | 3,243 | 3,440 | |
Commissions and fees | 3,120 | 2,869 | 6,126 | 5,874 | |
Trading revenues | 534 | 249 | 1,048 | 774 | |
Other revenues | 330 | 355 | 779 | 652 | |
Net revenues | 5,611 | 5,218 | 11,196 | 10,740 | |
Provision for credit losses | 73 | 82 | 121 | 135 | |
Compensation and benefits | 2,353 | 2,577 | 4,701 | 5,288 | |
General and administrative expenses | 1,735 | 1,619 | 3,558 | 3,292 | |
Commission expenses | 328 | 350 | 672 | 718 | |
Restructuring expenses | 145 | 61 | 257 | 155 | |
Total other operating expenses | 2,208 | 2,030 | 4,487 | 4,165 | |
Total operating expenses | 4,561 | 4,607 | 9,188 | 9,453 | |
Income/(loss) before taxes | 977 | 529 | 1,887 | 1,152 | |
Income tax expense/(benefit) | 330 | 289 | 629 | 386 | |
Net income/(loss) | 647 | 240 | 1,258 | 766 | |
Net income/(loss) attributable to noncontrolling interests | 9 | 0 | 9 | (2) | |
Net income/(loss) attributable to shareholders | 638 | 240 | 1,249 | 768 | |
Bank | Credit Suisse (USA), Inc - Consolidated | |||||
Condensed consolidating statements of operations | |||||
Interest and dividend income | 1,048 | 1,350 | 1,996 | 2,611 | |
Interest expense | (1,081) | (1,095) | (2,070) | (2,072) | |
Net interest income | (33) | 255 | (74) | 539 | |
Commissions and fees | 924 | 862 | 1,827 | 1,901 | |
Trading revenues | 177 | 21 | 461 | 102 | |
Other revenues | 417 | 226 | 726 | 443 | |
Net revenues | 1,485 | 1,364 | 2,940 | 2,985 | |
Provision for credit losses | 1 | 2 | 1 | 4 | |
Compensation and benefits | 741 | 762 | 1,444 | 1,587 | |
General and administrative expenses | 463 | 421 | 881 | 894 | |
Commission expenses | 58 | 60 | 124 | 129 | |
Restructuring expenses | 89 | 37 | 149 | 66 | |
Total other operating expenses | 610 | 518 | 1,154 | 1,089 | |
Total operating expenses | 1,351 | 1,280 | 2,598 | 2,676 | |
Income/(loss) before taxes | 133 | 82 | 341 | 305 | |
Income tax expense/(benefit) | 24 | 126 | 63 | 109 | |
Net income/(loss) | 109 | (44) | 278 | 196 | |
Net income/(loss) attributable to noncontrolling interests | 4 | 33 | 4 | (9) | |
Net income/(loss) attributable to shareholders | 105 | (77) | 274 | 205 | |
Bank | Bank parent company and other subsidiaries | Eliminations and consolidation adjustments | |||||
Condensed consolidating statements of operations | |||||
Interest and dividend income | 4,046 | 3,252 | 7,550 | 6,034 | |
Interest expense | (2,386) | (1,762) | (4,233) | (3,133) | |
Net interest income | 1,660 | 1,490 | 3,317 | 2,901 | |
Commissions and fees | 2,196 | 2,007 | 4,299 | 3,973 | |
Trading revenues | 357 | 228 | 587 | 672 | |
Other revenues | (87) | 129 | 53 | 209 | |
Net revenues | 4,126 | 3,854 | 8,256 | 7,755 | |
Provision for credit losses | 72 | 80 | 120 | 131 | |
Compensation and benefits | 1,612 | 1,815 | 3,257 | 3,701 | |
General and administrative expenses | 1,272 | 1,198 | 2,677 | 2,398 | |
Commission expenses | 270 | 290 | 548 | 589 | |
Restructuring expenses | 56 | 24 | 108 | 89 | |
Total other operating expenses | 1,598 | 1,512 | 3,333 | 3,076 | |
Total operating expenses | 3,210 | 3,327 | 6,590 | 6,777 | |
Income/(loss) before taxes | 844 | 447 | 1,546 | 847 | |
Income tax expense/(benefit) | 306 | 163 | 566 | 277 | |
Net income/(loss) | 538 | 284 | 980 | 570 | |
Net income/(loss) attributable to noncontrolling interests | 5 | (33) | 5 | 7 | |
Net income/(loss) attributable to shareholders | SFr 533 | SFr 317 | SFr 975 | SFr 563 |
Subsidiary guarantee informa155
Subsidiary guarantee information - Comprehensive income related (Details 2) - 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 | |
Comprehensive income | |||||
Net income/(loss) | SFr 654 | SFr 692 | SFr 306 | SFr 1,346 | SFr 898 |
Gains/(losses) on cash flow hedges | (10) | (33) | 10 | (43) | 6 |
Foreign currency translation | 565 | (502) | (1,101) | 63 | (1,601) |
Unrealized gains/(losses) on securities | (8) | (6) | (5) | (14) | (7) |
Actuarial gains/(losses) | 73 | 80 | 82 | 153 | 185 |
Net prior service cost | (29) | (31) | (28) | (60) | (67) |
Other comprehensive income/(loss), net of tax | 1,352 | (101) | (1,672) | 1,251 | (2,627) |
Comprehensive income/(loss) | 2,006 | 591 | (1,366) | 2,597 | (1,729) |
Comprehensive income/(loss) attributable to noncontrolling interests | 12 | (11) | (3) | 1 | (11) |
Comprehensive income/(loss) attributable to shareholders | 1,994 | 602 | (1,363) | 2,596 | (1,718) |
Gains/(losses) on liabilities related to credit risk | 761 | SFr 391 | (630) | 1,152 | (1,143) |
Eliminations and consolidation adjustments | |||||
Comprehensive income | |||||
Net income/(loss) | (640) | (237) | (1,253) | (767) | |
Gains/(losses) on cash flow hedges | 0 | 0 | 0 | 0 | |
Foreign currency translation | 7 | (13) | 0 | (24) | |
Unrealized gains/(losses) on securities | 0 | 0 | (1) | 0 | |
Actuarial gains/(losses) | 62 | 69 | 138 | 160 | |
Net prior service cost | (29) | (28) | (60) | (67) | |
Other comprehensive income/(loss), net of tax | 85 | (14) | 161 | 1 | |
Comprehensive income/(loss) | (555) | (251) | (1,092) | (766) | |
Comprehensive income/(loss) attributable to noncontrolling interests | (25) | 30 | (15) | 42 | |
Comprehensive income/(loss) attributable to shareholders | (530) | (281) | (1,077) | (808) | |
Gains/(losses) on liabilities related to credit risk | 45 | (42) | 84 | (68) | |
Group parent company | |||||
Comprehensive income | |||||
Net income/(loss) | 647 | 303 | 1,341 | 899 | |
Gains/(losses) on cash flow hedges | (3) | 2 | 0 | 4 | |
Foreign currency translation | 1 | 0 | 1 | (1) | |
Unrealized gains/(losses) on securities | 0 | 0 | 0 | 0 | |
Actuarial gains/(losses) | 0 | 0 | 0 | 0 | |
Net prior service cost | 0 | 0 | 0 | 0 | |
Other comprehensive income/(loss), net of tax | 41 | (24) | 78 | (147) | |
Comprehensive income/(loss) | 688 | 279 | 1,419 | 752 | |
Comprehensive income/(loss) attributable to noncontrolling interests | 0 | 0 | 0 | 0 | |
Comprehensive income/(loss) attributable to shareholders | 688 | 279 | 1,419 | 752 | |
Gains/(losses) on liabilities related to credit risk | 43 | (26) | 77 | (150) | |
Bank | |||||
Comprehensive income | |||||
Net income/(loss) | 647 | 240 | 1,258 | 766 | |
Gains/(losses) on cash flow hedges | (7) | 8 | (43) | 2 | |
Foreign currency translation | 557 | (1,088) | 62 | (1,576) | |
Unrealized gains/(losses) on securities | (8) | (5) | (13) | (7) | |
Actuarial gains/(losses) | 11 | 13 | 15 | 25 | |
Net prior service cost | 0 | 0 | 0 | 0 | |
Other comprehensive income/(loss), net of tax | 1,226 | (1,634) | 1,012 | (2,481) | |
Comprehensive income/(loss) | 1,873 | (1,394) | 2,270 | (1,715) | |
Comprehensive income/(loss) attributable to noncontrolling interests | 37 | (33) | 16 | (53) | |
Comprehensive income/(loss) attributable to shareholders | 1,836 | (1,361) | 2,254 | (1,662) | |
Gains/(losses) on liabilities related to credit risk | 673 | (562) | 991 | (925) | |
Bank | Credit Suisse (USA), Inc - Consolidated | |||||
Comprehensive income | |||||
Net income/(loss) | 109 | (44) | 278 | 196 | |
Gains/(losses) on cash flow hedges | 0 | 0 | 0 | 0 | |
Foreign currency translation | 596 | (709) | 236 | (1,074) | |
Unrealized gains/(losses) on securities | 0 | 0 | 0 | 0 | |
Actuarial gains/(losses) | 7 | 4 | 6 | 8 | |
Net prior service cost | 0 | 0 | 0 | 0 | |
Other comprehensive income/(loss), net of tax | 633 | (711) | 265 | (1,088) | |
Comprehensive income/(loss) | 742 | (755) | 543 | (892) | |
Comprehensive income/(loss) attributable to noncontrolling interests | 8 | 40 | 5 | 1 | |
Comprehensive income/(loss) attributable to shareholders | 734 | (795) | 538 | (893) | |
Gains/(losses) on liabilities related to credit risk | 30 | (6) | 23 | (22) | |
Bank | Bank parent company and other subsidiaries | Eliminations and consolidation adjustments | |||||
Comprehensive income | |||||
Net income/(loss) | 538 | 284 | 980 | 570 | |
Gains/(losses) on cash flow hedges | (7) | 8 | (43) | 2 | |
Foreign currency translation | (39) | (379) | (174) | (502) | |
Unrealized gains/(losses) on securities | (8) | (5) | (13) | (7) | |
Actuarial gains/(losses) | 4 | 9 | 9 | 17 | |
Net prior service cost | 0 | 0 | 0 | 0 | |
Other comprehensive income/(loss), net of tax | 593 | (923) | 747 | (1,393) | |
Comprehensive income/(loss) | 1,131 | (639) | 1,727 | (823) | |
Comprehensive income/(loss) attributable to noncontrolling interests | 29 | (73) | 11 | (54) | |
Comprehensive income/(loss) attributable to shareholders | 1,102 | (566) | 1,716 | (769) | |
Gains/(losses) on liabilities related to credit risk | SFr 643 | SFr (556) | SFr 968 | SFr (903) |
Subsidiary guarantee informa156
Subsidiary guarantee information - Balance sheet related (Details 3) - CHF (SFr) SFr in Millions | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 |
Assets | ||||||
Cash and Cash Equivalents, at Carrying Value | SFr 112,513 | SFr 118,164 | SFr 109,815 | SFr 110,332 | SFr 121,161 | |
Interest-bearing deposits with banks | 1,022 | 730 | 726 | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 117,617 | 121,170 | 115,346 | |||
Securities received as collateral | 45,522 | 41,227 | 38,074 | |||
Trading assets | 135,586 | 140,201 | 156,334 | |||
Investment securities | 2,331 | 2,146 | 2,191 | |||
Other investments | 5,626 | 5,487 | 5,964 | |||
Net loans | 287,660 | 283,854 | 279,149 | |||
Premises and equipment | 4,831 | 4,677 | 4,686 | |||
Goodwill | 4,797 | 4,667 | 4,742 | |||
Other intangible assets | 212 | 212 | 223 | |||
Brokerage receivables | 45,132 | 52,739 | 46,968 | |||
Other assets | 35,309 | 33,778 | 32,071 | |||
Total assets | 798,158 | 809,052 | 796,289 | |||
Liabilities and equity | ||||||
Due to banks | 17,459 | 18,858 | 15,413 | |||
Customer deposits | 367,408 | 368,382 | 361,162 | |||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 19,886 | 27,579 | 26,496 | |||
Obligation to return securities received as collateral | 45,522 | 41,227 | 38,074 | |||
Trading liabilities | 42,776 | 44,755 | 39,119 | |||
Short-term borrowings | 30,573 | 31,872 | 25,889 | |||
Long-term debt | 165,961 | 166,166 | 173,032 | |||
Brokerage payables | 34,450 | 37,838 | 43,303 | |||
Other liabilities | 30,514 | 29,678 | 31,612 | |||
Total liabilities | 754,549 | 766,355 | 754,100 | |||
Total shareholders' equity | 43,470 | 42,540 | 41,902 | |||
Noncontrolling interests | 139 | 157 | 287 | |||
Total equity | 43,609 | 42,697 | 42,189 | 43,836 | SFr 42,079 | 42,311 |
Total liabilities and equity | 798,158 | SFr 809,052 | 796,289 | |||
Eliminations and consolidation adjustments | ||||||
Assets | ||||||
Cash and Cash Equivalents, at Carrying Value | 611 | (211) | (580) | (843) | ||
Interest-bearing deposits with banks | (496) | (488) | ||||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 0 | 0 | ||||
Securities received as collateral | 0 | 0 | ||||
Trading assets | (201) | (440) | ||||
Investment securities | (19,902) | (15,610) | ||||
Other investments | (47,440) | (45,446) | ||||
Net loans | (5,518) | (4,088) | ||||
Premises and equipment | 299 | 241 | ||||
Goodwill | 712 | 706 | ||||
Other intangible assets | 0 | 0 | ||||
Brokerage receivables | 0 | 0 | ||||
Other assets | 769 | 726 | ||||
Total assets | (71,166) | (64,610) | ||||
Liabilities and equity | ||||||
Due to banks | (1,270) | (753) | ||||
Customer deposits | (1,431) | (1,141) | ||||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 0 | 0 | ||||
Obligation to return securities received as collateral | 0 | 0 | ||||
Trading liabilities | (3) | (13) | ||||
Short-term borrowings | (497) | (489) | ||||
Long-term debt | (22,709) | (18,367) | ||||
Brokerage payables | 0 | 0 | ||||
Other liabilities | (313) | (584) | ||||
Total liabilities | (26,223) | (21,347) | ||||
Total shareholders' equity | (44,339) | (42,670) | ||||
Noncontrolling interests | (604) | (593) | ||||
Total equity | (44,943) | (43,263) | ||||
Total liabilities and equity | (71,166) | (64,610) | ||||
Group parent company | ||||||
Assets | ||||||
Cash and Cash Equivalents, at Carrying Value | 266 | 516 | 746 | 938 | ||
Interest-bearing deposits with banks | 501 | 493 | ||||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 0 | 0 | ||||
Securities received as collateral | 0 | 0 | ||||
Trading assets | 0 | 0 | ||||
Investment securities | 19,904 | 15,612 | ||||
Other investments | 47,512 | 45,517 | ||||
Net loans | 0 | 0 | ||||
Premises and equipment | 0 | 0 | ||||
Goodwill | 0 | 0 | ||||
Other intangible assets | 0 | 0 | ||||
Brokerage receivables | 0 | 0 | ||||
Other assets | 513 | 389 | ||||
Total assets | 68,696 | 62,527 | ||||
Liabilities and equity | ||||||
Due to banks | 1,277 | 755 | ||||
Customer deposits | 0 | 0 | ||||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 0 | 0 | ||||
Obligation to return securities received as collateral | 0 | 0 | ||||
Trading liabilities | 0 | 0 | ||||
Short-term borrowings | 0 | 0 | ||||
Long-term debt | 23,560 | 19,357 | ||||
Brokerage payables | 0 | 0 | ||||
Other liabilities | 389 | 513 | ||||
Total liabilities | 25,226 | 20,625 | ||||
Total shareholders' equity | 43,470 | 41,902 | ||||
Noncontrolling interests | 0 | 0 | ||||
Total equity | 43,470 | 41,902 | ||||
Total liabilities and equity | 68,696 | 62,527 | ||||
Bank | ||||||
Assets | ||||||
Cash and Cash Equivalents, at Carrying Value | 111,636 | 109,510 | 110,166 | 121,066 | ||
Interest-bearing deposits with banks | 1,017 | 721 | ||||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 117,617 | 115,346 | ||||
Securities received as collateral | 45,522 | 38,074 | ||||
Trading assets | 135,787 | 156,774 | ||||
Investment securities | 2,329 | 2,189 | ||||
Other investments | 5,554 | 5,893 | ||||
Net loans | 293,178 | 283,237 | ||||
Premises and equipment | 4,532 | 4,445 | ||||
Goodwill | 4,085 | 4,036 | ||||
Other intangible assets | 212 | 223 | ||||
Brokerage receivables | 45,132 | 46,968 | ||||
Other assets | 34,027 | 30,956 | ||||
Total assets | 800,628 | 798,372 | ||||
Liabilities and equity | ||||||
Due to banks | 17,452 | 15,411 | ||||
Customer deposits | 368,839 | 362,303 | ||||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 19,886 | 26,496 | ||||
Obligation to return securities received as collateral | 45,522 | 38,074 | ||||
Trading liabilities | 42,779 | 39,132 | ||||
Short-term borrowings | 31,070 | 26,378 | ||||
Long-term debt | 165,110 | 172,042 | ||||
Brokerage payables | 34,450 | 43,303 | ||||
Other liabilities | 30,438 | 31,683 | ||||
Total liabilities | 755,546 | 754,822 | ||||
Total shareholders' equity | 44,339 | 42,670 | ||||
Noncontrolling interests | 743 | 880 | ||||
Total equity | 45,082 | 43,550 | 45,671 | 43,858 | ||
Total liabilities and equity | 800,628 | 798,372 | ||||
Bank | Credit Suisse (USA), Inc - Consolidated | ||||||
Assets | ||||||
Cash and Cash Equivalents, at Carrying Value | 2,984 | 3,058 | 2,482 | 2,491 | ||
Interest-bearing deposits with banks | 22 | 32 | ||||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 57,626 | 58,212 | ||||
Securities received as collateral | 4,496 | 5,422 | ||||
Trading assets | 24,408 | 24,602 | ||||
Investment securities | 265 | 245 | ||||
Other investments | 886 | 902 | ||||
Net loans | 12,497 | 12,456 | ||||
Premises and equipment | 1,047 | 1,001 | ||||
Goodwill | 733 | 722 | ||||
Other intangible assets | 189 | 195 | ||||
Brokerage receivables | 21,680 | 19,717 | ||||
Other assets | 10,709 | 11,217 | ||||
Total assets | 137,542 | 137,781 | ||||
Liabilities and equity | ||||||
Due to banks | 99 | 270 | ||||
Customer deposits | 1 | 1 | ||||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 16,831 | 15,352 | ||||
Obligation to return securities received as collateral | 4,496 | 5,422 | ||||
Trading liabilities | 9,740 | 6,549 | ||||
Short-term borrowings | 8,808 | 12,224 | ||||
Long-term debt | 54,159 | 50,396 | ||||
Brokerage payables | 18,468 | 21,585 | ||||
Other liabilities | 9,462 | 10,454 | ||||
Total liabilities | 122,064 | 122,253 | ||||
Total shareholders' equity | 15,381 | 15,409 | ||||
Noncontrolling interests | 97 | 119 | ||||
Total equity | 15,478 | 15,528 | ||||
Total liabilities and equity | 137,542 | 137,781 | ||||
Bank | Bank parent company and other subsidiaries | Eliminations and consolidation adjustments | ||||||
Assets | ||||||
Cash and Cash Equivalents, at Carrying Value | 108,652 | 106,452 | SFr 107,684 | SFr 118,575 | ||
Interest-bearing deposits with banks | 995 | 689 | ||||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 59,991 | 57,134 | ||||
Securities received as collateral | 41,026 | 32,652 | ||||
Trading assets | 111,379 | 132,172 | ||||
Investment securities | 2,064 | 1,944 | ||||
Other investments | 4,668 | 4,991 | ||||
Net loans | 280,681 | 270,781 | ||||
Premises and equipment | 3,485 | 3,444 | ||||
Goodwill | 3,352 | 3,314 | ||||
Other intangible assets | 23 | 28 | ||||
Brokerage receivables | 23,452 | 27,251 | ||||
Other assets | 23,318 | 19,739 | ||||
Total assets | 663,086 | 660,591 | ||||
Liabilities and equity | ||||||
Due to banks | 17,353 | 15,141 | ||||
Customer deposits | 368,838 | 362,302 | ||||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 3,055 | 11,144 | ||||
Obligation to return securities received as collateral | 41,026 | 32,652 | ||||
Trading liabilities | 33,039 | 32,583 | ||||
Short-term borrowings | 22,262 | 14,154 | ||||
Long-term debt | 110,951 | 121,646 | ||||
Brokerage payables | 15,982 | 21,718 | ||||
Other liabilities | 20,976 | 21,229 | ||||
Total liabilities | 633,482 | 632,569 | ||||
Total shareholders' equity | 28,958 | 27,261 | ||||
Noncontrolling interests | 646 | 761 | ||||
Total equity | 29,604 | 28,022 | ||||
Total liabilities and equity | SFr 663,086 | SFr 660,591 |
Subsidiary guarantee informa157
Subsidiary guarantee information - Cash flow related (Details 4) - CHF (SFr) SFr in Millions | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Operating activities of continuing operations | ||
Net cash provided by/(used in) operating activities | SFr 11,811 | SFr (2,232) |
Investing activities of continuing operations | ||
(Increase)/decrease in interest-bearing deposits with banks | (299) | 126 |
(Increase)/decrease in central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | (963) | (2,330) |
Purchase of investment securities | (379) | (44) |
Proceeds from sale of investment securities | 255 | 7 |
Investments in subsidiaries and other investments | (306) | (887) |
Proceeds from sale of other investments | 637 | 831 |
Maturities of investment securities | 311 | 192 |
(Increase)/decrease in loans | (10,602) | (5,208) |
Proceeds from sale of loans | 3,903 | 3,785 |
Capital expenditures for premises and equipment and other intangible assets | (529) | (473) |
Proceeds from sale of premises and equipment and other intangible assets | 29 | 1 |
Other, net | 204 | 53 |
Net cash provided by/(used in) investing activities | (7,739) | (3,947) |
Financing activities of continuing operations | ||
Increase/(decrease) in due to banks and customer deposits | 6,359 | 4,224 |
Increase/(decrease) in short-term borrowings | 4,452 | 2,717 |
Increase/(decrease) in central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (6,768) | (478) |
Issuances of long-term debt | 15,911 | 22,726 |
Repayments of long-term debt | (20,540) | (35,556) |
Issuances of common shares | 0 | 4,253 |
Sale of treasury shares | 6,175 | 5,834 |
Repurchase of treasury shares | (6,899) | (6,445) |
Dividends paid/capital repayments | (665) | (588) |
Other, net | 124 | 270 |
Net cash provided by/(used in) financing activities | (1,851) | (3,043) |
Effect of exchange rate changes on cash and due from banks | ||
Effect of exchange rate changes on cash and due from banks | 477 | (1,607) |
Net increase/(decrease) in cash and due from banks | ||
Net increase/(decrease) in cash and due from banks | 2,698 | (10,829) |
Cash and due from banks at beginning of period | 109,815 | 121,161 |
Cash and due from banks at end of period | 112,513 | 110,332 |
Eliminations and consolidation adjustments | ||
Operating activities of continuing operations | ||
Net cash provided by/(used in) operating activities | 156 | 29 |
Investing activities of continuing operations | ||
(Increase)/decrease in interest-bearing deposits with banks | 8 | 0 |
(Increase)/decrease in central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 0 | 0 |
Purchase of investment securities | 4,846 | 1,677 |
Proceeds from sale of investment securities | 0 | 0 |
Investments in subsidiaries and other investments | 5 | 4,101 |
Proceeds from sale of other investments | (9) | 0 |
Maturities of investment securities | 0 | 0 |
(Increase)/decrease in loans | 1,416 | 4,253 |
Proceeds from sale of loans | 0 | 0 |
Capital expenditures for premises and equipment and other intangible assets | (53) | (1) |
Proceeds from sale of premises and equipment and other intangible assets | (51) | (50) |
Other, net | 0 | 0 |
Net cash provided by/(used in) investing activities | 6,162 | 9,980 |
Financing activities of continuing operations | ||
Increase/(decrease) in due to banks and customer deposits | (803) | (264) |
Increase/(decrease) in short-term borrowings | (8) | 0 |
Increase/(decrease) in central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 0 | 0 |
Issuances of long-term debt | (4,744) | (5,691) |
Repayments of long-term debt | 0 | 90 |
Issuances of common shares | 0 | |
Sale of treasury shares | 6,175 | 5,834 |
Repurchase of treasury shares | (6,142) | (5,880) |
Dividends paid/capital repayments | 10 | 8 |
Other, net | 25 | (3,842) |
Net cash provided by/(used in) financing activities | (5,487) | (9,745) |
Effect of exchange rate changes on cash and due from banks | ||
Effect of exchange rate changes on cash and due from banks | (9) | (1) |
Net increase/(decrease) in cash and due from banks | ||
Net increase/(decrease) in cash and due from banks | 822 | 263 |
Cash and due from banks at beginning of period | (211) | (843) |
Cash and due from banks at end of period | 611 | (580) |
Group parent company | ||
Operating activities of continuing operations | ||
Net cash provided by/(used in) operating activities | (130) | (1,063) |
Investing activities of continuing operations | ||
(Increase)/decrease in interest-bearing deposits with banks | (8) | 0 |
(Increase)/decrease in central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 0 | 0 |
Purchase of investment securities | (4,846) | (1,677) |
Proceeds from sale of investment securities | 0 | 0 |
Investments in subsidiaries and other investments | (5) | (4,101) |
Proceeds from sale of other investments | 4 | 0 |
Maturities of investment securities | 0 | 0 |
(Increase)/decrease in loans | 0 | (3,725) |
Proceeds from sale of loans | 0 | 0 |
Capital expenditures for premises and equipment and other intangible assets | 0 | 0 |
Proceeds from sale of premises and equipment and other intangible assets | 0 | 0 |
Other, net | 0 | 0 |
Net cash provided by/(used in) investing activities | (4,855) | (9,503) |
Financing activities of continuing operations | ||
Increase/(decrease) in due to banks and customer deposits | 522 | 259 |
Increase/(decrease) in short-term borrowings | 0 | 0 |
Increase/(decrease) in central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 0 | 0 |
Issuances of long-term debt | 4,622 | 5,719 |
Repayments of long-term debt | 0 | 0 |
Issuances of common shares | 4,253 | |
Sale of treasury shares | 0 | 0 |
Repurchase of treasury shares | (757) | (565) |
Dividends paid/capital repayments | (661) | (584) |
Other, net | 1,009 | 592 |
Net cash provided by/(used in) financing activities | 4,735 | 9,674 |
Effect of exchange rate changes on cash and due from banks | ||
Effect of exchange rate changes on cash and due from banks | 0 | 700 |
Net increase/(decrease) in cash and due from banks | ||
Net increase/(decrease) in cash and due from banks | (250) | (192) |
Cash and due from banks at beginning of period | 516 | 938 |
Cash and due from banks at end of period | 266 | 746 |
Bank | ||
Operating activities of continuing operations | ||
Net cash provided by/(used in) operating activities | 11,785 | (1,198) |
Investing activities of continuing operations | ||
(Increase)/decrease in interest-bearing deposits with banks | (299) | 126 |
(Increase)/decrease in central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | (963) | (2,330) |
Purchase of investment securities | (379) | (44) |
Proceeds from sale of investment securities | 255 | 7 |
Investments in subsidiaries and other investments | (306) | (887) |
Proceeds from sale of other investments | 642 | 831 |
Maturities of investment securities | 311 | 192 |
(Increase)/decrease in loans | (12,018) | (5,736) |
Proceeds from sale of loans | 3,903 | 3,785 |
Capital expenditures for premises and equipment and other intangible assets | (476) | (472) |
Proceeds from sale of premises and equipment and other intangible assets | 80 | 51 |
Other, net | 204 | 53 |
Net cash provided by/(used in) investing activities | (9,046) | (4,424) |
Financing activities of continuing operations | ||
Increase/(decrease) in due to banks and customer deposits | 6,640 | 4,229 |
Increase/(decrease) in short-term borrowings | 4,460 | 2,717 |
Increase/(decrease) in central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (6,768) | (478) |
Issuances of long-term debt | 16,033 | 22,698 |
Repayments of long-term debt | (20,540) | (35,646) |
Issuances of common shares | 0 | |
Sale of treasury shares | 0 | 0 |
Repurchase of treasury shares | 0 | 0 |
Dividends paid/capital repayments | (14) | (12) |
Other, net | (910) | 3,520 |
Net cash provided by/(used in) financing activities | (1,099) | (2,972) |
Effect of exchange rate changes on cash and due from banks | ||
Effect of exchange rate changes on cash and due from banks | 486 | (2,306) |
Net increase/(decrease) in cash and due from banks | ||
Net increase/(decrease) in cash and due from banks | 2,126 | (10,900) |
Cash and due from banks at beginning of period | 109,510 | 121,066 |
Cash and due from banks at end of period | 111,636 | 110,166 |
Bank | Credit Suisse (USA), Inc - Consolidated | ||
Operating activities of continuing operations | ||
Net cash provided by/(used in) operating activities | (1,907) | (7,549) |
Investing activities of continuing operations | ||
(Increase)/decrease in interest-bearing deposits with banks | 11 | 0 |
(Increase)/decrease in central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 1,462 | (1,301) |
Purchase of investment securities | 0 | 0 |
Proceeds from sale of investment securities | 0 | 0 |
Investments in subsidiaries and other investments | (85) | (160) |
Proceeds from sale of other investments | 168 | 243 |
Maturities of investment securities | 180 | 76 |
(Increase)/decrease in loans | 151 | (216) |
Proceeds from sale of loans | 0 | 0 |
Capital expenditures for premises and equipment and other intangible assets | (133) | (117) |
Proceeds from sale of premises and equipment and other intangible assets | 0 | 1 |
Other, net | 3 | 30 |
Net cash provided by/(used in) investing activities | 1,757 | (1,444) |
Financing activities of continuing operations | ||
Increase/(decrease) in due to banks and customer deposits | (171) | 52 |
Increase/(decrease) in short-term borrowings | (2,189) | 615 |
Increase/(decrease) in central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 1,206 | 734 |
Issuances of long-term debt | 7,734 | 15,419 |
Repayments of long-term debt | (6,104) | (7,375) |
Issuances of common shares | 0 | |
Sale of treasury shares | 0 | 0 |
Repurchase of treasury shares | 0 | 0 |
Dividends paid/capital repayments | (1) | (8) |
Other, net | (448) | (287) |
Net cash provided by/(used in) financing activities | 27 | 9,150 |
Effect of exchange rate changes on cash and due from banks | ||
Effect of exchange rate changes on cash and due from banks | 49 | (166) |
Net increase/(decrease) in cash and due from banks | ||
Net increase/(decrease) in cash and due from banks | (74) | (9) |
Cash and due from banks at beginning of period | 3,058 | 2,491 |
Cash and due from banks at end of period | 2,984 | 2,482 |
Bank | Bank parent company and other subsidiaries | Eliminations and consolidation adjustments | ||
Operating activities of continuing operations | ||
Net cash provided by/(used in) operating activities | 13,692 | 6,351 |
Investing activities of continuing operations | ||
(Increase)/decrease in interest-bearing deposits with banks | (310) | 126 |
(Increase)/decrease in central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | (2,425) | (1,029) |
Purchase of investment securities | (379) | (44) |
Proceeds from sale of investment securities | 255 | 7 |
Investments in subsidiaries and other investments | (221) | (727) |
Proceeds from sale of other investments | 474 | 588 |
Maturities of investment securities | 131 | 116 |
(Increase)/decrease in loans | (12,169) | (5,520) |
Proceeds from sale of loans | 3,903 | 3,785 |
Capital expenditures for premises and equipment and other intangible assets | (343) | (355) |
Proceeds from sale of premises and equipment and other intangible assets | 80 | 50 |
Other, net | 201 | 23 |
Net cash provided by/(used in) investing activities | (10,803) | (2,980) |
Financing activities of continuing operations | ||
Increase/(decrease) in due to banks and customer deposits | 6,811 | 4,177 |
Increase/(decrease) in short-term borrowings | 6,649 | 2,102 |
Increase/(decrease) in central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (7,974) | (1,212) |
Issuances of long-term debt | 8,299 | 7,279 |
Repayments of long-term debt | (14,436) | (28,271) |
Issuances of common shares | 0 | |
Sale of treasury shares | 0 | 0 |
Repurchase of treasury shares | 0 | 0 |
Dividends paid/capital repayments | (13) | (4) |
Other, net | (462) | 3,807 |
Net cash provided by/(used in) financing activities | (1,126) | (12,122) |
Effect of exchange rate changes on cash and due from banks | ||
Effect of exchange rate changes on cash and due from banks | 437 | (2,140) |
Net increase/(decrease) in cash and due from banks | ||
Net increase/(decrease) in cash and due from banks | 2,200 | (10,891) |
Cash and due from banks at beginning of period | 106,452 | 118,575 |
Cash and due from banks at end of period | 108,652 | 107,684 |
Group Parent company - subsidiary that holds a banking license | Group parent company | ||
Net increase/(decrease) in cash and due from banks | ||
Dividend income from investments | 10 | 10 |
Group Parent company - subsidiary that doesn't hold a banking license | Group parent company | ||
Net increase/(decrease) in cash and due from banks | ||
Dividend income from investments | SFr 6 | SFr 8 |