Document and Entity Information
Document and Entity Information | 6 Months Ended |
Jun. 30, 2019 | |
Document Information [Line Items] | |
Entity Registrant Name | CREDIT SUISSE GROUP AG |
Entity Central Index Key | 0001159510 |
Document Type | 6-K |
Document Period End Date | Jun. 30, 2019 |
Amendment Flag | false |
Current Fiscal Year End Date | --12-31 |
Document Fiscal Year Focus | 2019 |
Document Fiscal Period Focus | Q2 |
Bank | |
Document Information [Line Items] | |
Entity Registrant Name | CREDIT SUISSE AG |
Entity Central Index Key | 0001053092 |
Document Type | 6-K |
Document Period End Date | Jun. 30, 2019 |
Amendment Flag | false |
Current Fiscal Year End Date | --12-31 |
Document Fiscal Year Focus | 2019 |
Document Fiscal Period Focus | Q2 |
Consolidated statements of oper
Consolidated statements of operations - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Mar. 31, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Interest and dividend income | SFr 5,653 | SFr 4,818 | SFr 5,090 | SFr 10,471 | SFr 9,541 |
Interest expense | (3,652) | (3,286) | (3,497) | (6,938) | (6,363) |
Net interest income | 2,001 | 1,532 | 1,593 | 3,533 | 3,178 |
Commissions and fees | 2,927 | 2,612 | 3,159 | 5,539 | 6,205 |
Trading revenues | 182 | 840 | 528 | 1,022 | 1,106 |
Other revenues | 471 | 403 | 315 | 874 | 742 |
Net revenues | 5,581 | 5,387 | 5,595 | 10,968 | 11,231 |
Provision for credit losses | 25 | 81 | 73 | 106 | 121 |
Compensation and benefits | 2,545 | 2,518 | 2,547 | 5,063 | 5,085 |
General and administrative expenses | 1,395 | 1,413 | 1,420 | 2,808 | 2,928 |
Commission expenses | 314 | 313 | 328 | 627 | 672 |
Restructuring expenses | 175 | 319 | |||
Total other operating expenses | 1,709 | 1,726 | 1,923 | 3,435 | 3,919 |
Total operating expenses | 4,254 | 4,244 | 4,470 | 8,498 | 9,004 |
Income/(loss) before taxes | 1,302 | 1,062 | 1,052 | 2,364 | 2,106 |
Income tax expense/(benefit) | 365 | 313 | 398 | 678 | 760 |
Net income/(loss) | 937 | 749 | 654 | 1,686 | 1,346 |
Net income/(loss) attributable to noncontrolling interests | 0 | 0 | 7 | 0 | 5 |
Net income/(loss) attributable to shareholders | SFr 937 | SFr 749 | SFr 647 | SFr 1,686 | SFr 1,341 |
Basic earnings per share (CHF) | |||||
Basic earnings/(loss) per share (in CHF per share) | SFr 0.37 | SFr 0.29 | SFr 0.25 | SFr 0.66 | SFr 0.52 |
Diluted earnings per share (CHF) | |||||
Diluted earnings/(loss) per share (in CHF per share) | SFr 0.36 | SFr 0.29 | SFr 0.25 | SFr 0.65 | SFr 0.51 |
Bank | |||||
Interest and dividend income | SFr 5,655 | SFr 5,094 | SFr 10,476 | SFr 9,546 | |
Interest expense | (3,648) | (3,467) | (6,921) | (6,303) | |
Net interest income | 2,007 | 1,627 | 3,555 | 3,243 | |
Commissions and fees | 2,904 | 3,120 | 5,483 | 6,126 | |
Trading revenues | 231 | 534 | 1,087 | 1,048 | |
Other revenues | 534 | 330 | 986 | 779 | |
Net revenues | 5,676 | 5,611 | 11,111 | 11,196 | |
Provision for credit losses | 25 | 73 | 106 | 121 | |
Compensation and benefits | 2,305 | 2,353 | 4,609 | 4,701 | |
General and administrative expenses | 1,763 | 1,735 | 3,508 | 3,558 | |
Commission expenses | 313 | 328 | 627 | 672 | |
Restructuring expenses | 145 | 257 | |||
Total other operating expenses | 2,076 | 2,208 | 4,135 | 4,487 | |
Total operating expenses | 4,381 | 4,561 | 8,744 | 9,188 | |
Income/(loss) before taxes | 1,270 | 977 | 2,261 | 1,887 | |
Income tax expense/(benefit) | 339 | 330 | 701 | 629 | |
Net income/(loss) | 931 | 647 | 1,560 | 1,258 | |
Net income/(loss) attributable to noncontrolling interests | 4 | 9 | 7 | 9 | |
Net income/(loss) attributable to shareholders | SFr 927 | SFr 638 | SFr 1,553 | SFr 1,249 |
Consolidated statements of comp
Consolidated statements of comprehensive income - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Mar. 31, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Comprehensive income | |||||
Net income/(loss) | SFr 937 | SFr 749 | SFr 654 | SFr 1,686 | SFr 1,346 |
Gains/(losses) on cash flow hedges | 43 | 46 | (10) | 89 | (43) |
Foreign currency translation | (592) | 199 | 565 | (393) | 63 |
Unrealized gains/(losses) on securities | 12 | 14 | (8) | 26 | (14) |
Actuarial gains/(losses) | 386 | 60 | 73 | 446 | 153 |
Net prior service cost | 306 | (24) | (29) | 282 | (60) |
Gains/(losses) on liabilities related to credit risk | (231) | (1,121) | 761 | (1,352) | 1,152 |
Other comprehensive income/(loss), net of tax | (76) | (826) | 1,352 | (902) | 1,251 |
Comprehensive income/(loss) | 861 | (77) | 2,006 | 784 | 2,597 |
Comprehensive income/(loss) attributable to noncontrolling interests | (3) | 2 | 12 | (1) | 1 |
Comprehensive income/(loss) attributable to shareholders | 864 | SFr (79) | 1,994 | 785 | 2,596 |
Bank | |||||
Comprehensive income | |||||
Net income/(loss) | 931 | 647 | 1,560 | 1,258 | |
Gains/(losses) on cash flow hedges | 45 | (7) | 93 | (43) | |
Foreign currency translation | (578) | 557 | (391) | 62 | |
Unrealized gains/(losses) on securities | 12 | (8) | 27 | (13) | |
Actuarial gains/(losses) | 4 | 11 | 8 | 15 | |
Net prior service cost | 0 | 0 | 0 | 0 | |
Gains/(losses) on liabilities related to credit risk | (216) | 673 | (1,238) | 991 | |
Other comprehensive income/(loss), net of tax | (733) | 1,226 | (1,501) | 1,012 | |
Comprehensive income/(loss) | 198 | 1,873 | 59 | 2,270 | |
Comprehensive income/(loss) attributable to noncontrolling interests | (10) | 37 | 0 | 16 | |
Comprehensive income/(loss) attributable to shareholders | SFr 208 | SFr 1,836 | SFr 59 | SFr 2,254 |
Consolidated balance sheets
Consolidated balance sheets - CHF (SFr) SFr in Millions | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | ||||
Assets | |||||||
Cash and due from banks | SFr 92,489 | [1] | SFr 94,762 | SFr 100,047 | [1] | ||
of which reported at fair value | 172 | 71 | 115 | ||||
Interest-bearing deposits with banks | 909 | 963 | 1,142 | ||||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 113,466 | 116,151 | 117,095 | ||||
of which reported at fair value | 82,286 | 81,730 | 81,818 | ||||
Securities received as collateral, at fair value | 45,378 | 49,472 | 41,696 | ||||
of which encumbered | 27,300 | 30,454 | 25,711 | ||||
Trading assets, at fair value | 145,613 | 144,922 | 133,635 | ||||
of which encumbered | 38,536 | 40,212 | 32,452 | ||||
Investment securities | 1,398 | 1,716 | 1,479 | ||||
of which reported at fair value | 1,398 | 1,716 | 1,479 | ||||
Other investments | 4,986 | 4,839 | 4,890 | ||||
of which reported at fair value | 2,574 | 2,364 | 2,434 | ||||
Net loans | 293,797 | 292,970 | 287,581 | ||||
of which reported at fair value | 12,837 | 15,305 | 14,873 | ||||
of which encumbered | 245 | 252 | 230 | ||||
Allowance for loan losses | (882) | (966) | (902) | ||||
Goodwill | 4,731 | 4,807 | 4,766 | ||||
Other intangible assets | 216 | 224 | 219 | ||||
of which reported at fair value | 162 | 168 | 163 | ||||
Brokerage receivables | 41,654 | 42,309 | 38,907 | ||||
Other assets | 39,579 | 40,501 | 37,459 | ||||
of which reported at fair value | 8,195 | 9,001 | 7,263 | ||||
of which encumbered | 280 | 276 | 279 | ||||
Total assets | 784,216 | 793,636 | 768,916 | ||||
Liabilities and equity | |||||||
Due to banks | 18,498 | 18,780 | 15,220 | ||||
of which reported at fair value | 281 | 248 | 406 | ||||
Customer deposits | 364,302 | 367,147 | 363,925 | ||||
of which reported at fair value | 2,977 | 3,003 | 3,292 | ||||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 19,582 | 20,617 | 24,623 | ||||
of which reported at fair value | 9,195 | 9,745 | 14,828 | ||||
Obligation to return securities received as collateral, at fair value | 45,378 | 49,472 | 41,696 | ||||
Trading liabilities, at fair value | 43,356 | 39,536 | 42,169 | ||||
Short-term borrowings | 26,139 | 26,557 | 21,926 | ||||
of which reported at fair value | 10,237 | 9,514 | 8,068 | ||||
Long-term debt | 157,955 | 160,261 | 154,308 | ||||
of which reported at fair value | 71,648 | 69,411 | 63,935 | ||||
Brokerage payables | 35,120 | 37,942 | 30,923 | ||||
Other liabilities | 29,958 | 29,393 | 30,107 | ||||
of which reported at fair value | 7,613 | 7,690 | 9,001 | ||||
Total liabilities | 740,288 | 749,705 | 724,897 | ||||
Common shares | 102 | 102 | 102 | ||||
Additional paid-in capital | 34,219 | 35,212 | 34,889 | ||||
Retained earnings | 28,901 | 27,964 | 26,973 | ||||
Treasury shares, at cost | (603) | (580) | (61) | ||||
Accumulated other comprehensive income/(loss) | (18,946) | (18,873) | (17,981) | ||||
Total shareholders' equity | 43,673 | 43,825 | 43,922 | ||||
Noncontrolling interests | 255 | 106 | 97 | ||||
Total equity | 43,928 | 43,931 | 44,019 | ||||
Total liabilities and equity | SFr 784,216 | SFr 793,636 | SFr 768,916 | ||||
Additional share information | |||||||
Par value (in CHF per share) | SFr 0.04 | SFr 0.04 | SFr 0.04 | ||||
Authorized shares (in shares) | [2] | 3,209,011,720 | 3,271,129,950 | 3,271,129,950 | |||
Issued shares (in shares) | 2,556,011,720 | 2,556,011,720 | 2,556,011,720 | ||||
Treasury shares (in shares) | 48,237,130 | 48,217,358 | 5,427,691 | ||||
Common shares outstanding (in shares) | 2,507,774,590 | [3] | 2,507,794,362 | [3] | 2,550,584,029 | ||
Consolidated VIEs | |||||||
Assets | |||||||
Cash and due from banks | SFr 274 | SFr 173 | SFr 173 | ||||
Trading assets, at fair value | 3,010 | 3,143 | 3,048 | ||||
Other investments | 1,671 | 1,525 | 1,505 | ||||
Net loans | 323 | 396 | 387 | ||||
Other assets | 1,951 | 2,047 | 2,049 | ||||
Liabilities and equity | |||||||
Trading liabilities, at fair value | 6 | 4 | 3 | ||||
Short-term borrowings | 4,828 | 5,138 | 5,465 | ||||
Long-term debt | 2,071 | 2,116 | 1,764 | ||||
Other liabilities | 314 | SFr 298 | 277 | ||||
Bank | |||||||
Assets | |||||||
Cash and due from banks | [4] | 91,774 | 99,314 | ||||
of which reported at fair value | 172 | 115 | |||||
Interest-bearing deposits with banks | 841 | 1,074 | |||||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 113,466 | 117,095 | |||||
of which reported at fair value | 82,286 | 81,818 | |||||
Securities received as collateral, at fair value | 45,378 | 41,696 | |||||
of which encumbered | 27,300 | 25,711 | |||||
Trading assets, at fair value | 145,758 | 133,859 | |||||
of which encumbered | 38,536 | 32,452 | |||||
Investment securities | 1,396 | 1,477 | |||||
of which reported at fair value | 1,396 | 1,477 | |||||
Other investments | 4,946 | 4,824 | |||||
of which reported at fair value | 2,572 | 2,430 | |||||
Net loans | 300,281 | 292,875 | |||||
of which reported at fair value | 12,837 | 14,873 | |||||
of which encumbered | 245 | 230 | |||||
Allowance for loan losses | (881) | (901) | |||||
Goodwill | 4,025 | 4,056 | |||||
Other intangible assets | 216 | 219 | |||||
of which reported at fair value | 162 | 163 | |||||
Brokerage receivables | 41,654 | 38,907 | |||||
Other assets | 37,093 | 36,673 | |||||
of which reported at fair value | 8,195 | 7,263 | |||||
of which encumbered | 280 | 279 | |||||
Total assets | 786,828 | 772,069 | |||||
Liabilities and equity | |||||||
Due to banks | 18,492 | 15,220 | |||||
of which reported at fair value | 281 | 406 | |||||
Customer deposits | 365,556 | 365,263 | |||||
of which reported at fair value | 2,977 | 3,292 | |||||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 19,691 | 24,623 | |||||
of which reported at fair value | 9,304 | 14,828 | |||||
Obligation to return securities received as collateral, at fair value | 45,378 | 41,696 | |||||
Trading liabilities, at fair value | 43,370 | 42,171 | |||||
Short-term borrowings | 26,628 | 22,419 | |||||
of which reported at fair value | 10,237 | 8,068 | |||||
Long-term debt | 157,018 | 153,433 | |||||
of which reported at fair value | 70,703 | 63,027 | |||||
Brokerage payables | 35,120 | 30,923 | |||||
Other liabilities | 29,401 | 30,327 | |||||
of which reported at fair value | 7,597 | 8,983 | |||||
Total liabilities | 740,654 | 726,075 | |||||
Common shares | 4,400 | 4,400 | |||||
Additional paid-in capital | 45,356 | 45,557 | |||||
Retained earnings | 11,964 | 10,179 | |||||
Accumulated other comprehensive income/(loss) | (16,398) | (14,840) | |||||
Total shareholders' equity | 45,322 | 45,296 | |||||
Noncontrolling interests | 852 | 698 | |||||
Total equity | 46,174 | 45,994 | |||||
Total liabilities and equity | SFr 786,828 | SFr 772,069 | |||||
Additional share information | |||||||
Par value (in CHF per share) | [5] | SFr 1 | SFr 1 | ||||
Issued shares (in shares) | [5] | 4,399,680,200 | 4,399,680,200 | ||||
Common shares outstanding (in shares) | [5] | 4,399,680,200 | 4,399,680,200 | ||||
Bank | Consolidated VIEs | |||||||
Assets | |||||||
Cash and due from banks | SFr 274 | SFr 173 | |||||
Trading assets, at fair value | 3,010 | 3,048 | |||||
Other investments | 1,671 | 1,505 | |||||
Net loans | 323 | 387 | |||||
Other assets | 1,930 | 2,027 | |||||
Liabilities and equity | |||||||
Trading liabilities, at fair value | 6 | 3 | |||||
Short-term borrowings | 4,828 | 5,465 | |||||
Long-term debt | 2,071 | 1,764 | |||||
Other liabilities | SFr 313 | SFr 277 | |||||
[1] | Includes restricted cash. | ||||||
[2] | Includes issued shares and unissued shares (conditional, conversion and authorized capital). | ||||||
[3] | At par value CHF 0.04 each, fully paid. In addition to the treasury shares, a maximum of 653,000,000 unissued shares (conditional, conversion and authorized capital) were available for issuance without further approval of the shareholders. 111,193,477 of these shares were reserved for capital instruments. | ||||||
[4] | Includes restricted cash. | ||||||
[5] | The Bank's total share capital is fully paid and consists of 4,399,680,200 registered shares as of June 30, 2019. 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, 2017 | SFr 42,189 | SFr 41,902 | SFr 102 | SFr 35,668 | SFr 24,973 | SFr (103) | SFr (18,738) | SFr 287 | SFr 43,550 | SFr 42,670 | SFr 4,400 | SFr 45,718 | SFr 8,484 | SFr 0 | SFr (15,932) | SFr 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) | (36) | (37) | (37) | ||||||||||||||||||
Sale of subsidiary shares to noncontrolling interests, not changing ownership | 10 | 10 | 11 | 11 | ||||||||||||||||||
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 | 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 | (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 | (14,949) | 743 | ||||||
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 | (15) | (15) | ||||||||||||||||||||
Sale of subsidiary shares to noncontrolling interests, not changing ownership | 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 | 171 | 171 | 171 | |||||||||||||||||||
Dividends paid | (662) | (661) | ||||||||||||||||||||
Dividends paid out of reserves from capital contributions | (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 | 102 | 34,678 | 26,290 | (96) | (17,504) | 139 | 45,082 | 44,339 | 4,400 | 45,188 | 9,700 | 0 | (14,949) | 743 | ||||||
Increase (decrease) in shareholders' equity | ||||||||||||||||||||||
Cumulative effect of accounting changes, net of tax | (45) | (45) | (24) | (21) | (45) | (45) | (23) | (22) | ||||||||||||||
Balance at Dec. 31, 2018 | 44,019 | 43,922 | 102 | 34,889 | 26,973 | (61) | (17,981) | 97 | 45,994 | 45,296 | 4,400 | 45,557 | 10,179 | 0 | [1] | (14,840) | 698 | |||||
Increase (decrease) in shareholders' equity | ||||||||||||||||||||||
Purchase of subsidiary shares from noncontrolling interests, not changing ownership | (3) | (3) | ||||||||||||||||||||
Sale of subsidiary shares to noncontrolling interests, not changing ownership | 11 | 11 | ||||||||||||||||||||
Net income/(loss) | 749 | 749 | 749 | |||||||||||||||||||
Total other comprehensive income/(loss), net of tax | (826) | (828) | (828) | 2 | ||||||||||||||||||
Sale of treasury shares | 2,834 | 2,834 | 7 | 2,827 | ||||||||||||||||||
Repurchase of treasury shares | (3,367) | (3,367) | (3,367) | |||||||||||||||||||
Share-based compensation, net of tax | 274 | 274 | 253 | 21 | ||||||||||||||||||
Financial instruments indexed to own shares | 63 | 63 | 63 | |||||||||||||||||||
Dividends paid | (1) | |||||||||||||||||||||
Cash dividends paid to noncontrolling interest holders | (1) | |||||||||||||||||||||
Balance at Mar. 31, 2019 | 43,931 | 43,825 | 102 | 35,212 | 27,964 | (580) | (18,873) | 106 | ||||||||||||||
Balance at Dec. 31, 2018 | 44,019 | 43,922 | 102 | 34,889 | 26,973 | (61) | (17,981) | 97 | 45,994 | 45,296 | 4,400 | 45,557 | 10,179 | 0 | [1] | (14,840) | 698 | |||||
Increase (decrease) in shareholders' equity | ||||||||||||||||||||||
Purchase of subsidiary shares from noncontrolling interests, not changing ownership | (18) | [2],[3] | (18) | [2],[3] | (18) | [4],[5] | (18) | [4],[5] | ||||||||||||||
Sale of subsidiary shares to noncontrolling interests, not changing ownership | 18 | [3] | 18 | [3] | 12 | [5] | 12 | [5] | ||||||||||||||
Net income/(loss) | 1,686 | 1,686 | 1,686 | 1,560 | 1,553 | 1,553 | 7 | |||||||||||||||
Total other comprehensive income/(loss), net of tax | (902) | (901) | (901) | (1) | (1,501) | (1,494) | (1,494) | (7) | ||||||||||||||
Sale of treasury shares | 4,720 | 4,720 | 3 | 4,717 | ||||||||||||||||||
Repurchase of treasury shares | (5,718) | (5,718) | (5,718) | |||||||||||||||||||
Share-based compensation, net of tax | 360 | 360 | (99) | 459 | (167) | (167) | (167) | |||||||||||||||
Financial instruments indexed to own shares | [6] | 121 | 121 | 121 | ||||||||||||||||||
Dividends on share-based compensation, net of tax | (32) | (32) | (32) | |||||||||||||||||||
Dividends paid | (696) | (695) | (11) | (10) | (10) | |||||||||||||||||
Dividends paid out of reserves from capital contributions | [7] | (695) | ||||||||||||||||||||
Cash dividends paid to noncontrolling interest holders | (1) | (1) | ||||||||||||||||||||
Change in scope of consolidation, net | 160 | 160 | 160 | 160 | ||||||||||||||||||
Other | (1) | (2) | (2) | 1 | ||||||||||||||||||
Balance at Jun. 30, 2019 | 43,928 | 43,673 | 102 | 34,219 | 28,901 | (603) | (18,946) | 255 | 46,174 | 45,322 | 4,400 | 45,356 | 11,964 | 0 | [1] | (16,398) | 852 | |||||
Increase (decrease) in shareholders' equity | ||||||||||||||||||||||
Cumulative effect of accounting changes, net of tax | 178 | 178 | 242 | (64) | ||||||||||||||||||
Balance at Mar. 31, 2019 | 43,931 | 43,825 | 102 | 35,212 | 27,964 | (580) | (18,873) | 106 | ||||||||||||||
Increase (decrease) in shareholders' equity | ||||||||||||||||||||||
Purchase of subsidiary shares from noncontrolling interests, not changing ownership | [8],[9] | (15) | (15) | |||||||||||||||||||
Sale of subsidiary shares to noncontrolling interests, not changing ownership | [9] | 7 | 7 | |||||||||||||||||||
Net income/(loss) | 937 | 937 | 937 | |||||||||||||||||||
Total other comprehensive income/(loss), net of tax | (76) | (73) | (73) | (3) | (733) | |||||||||||||||||
Sale of treasury shares | 1,886 | 1,886 | (4) | 1,890 | ||||||||||||||||||
Repurchase of treasury shares | (2,351) | (2,351) | (2,351) | |||||||||||||||||||
Share-based compensation, net of tax | 86 | 86 | (352) | 438 | ||||||||||||||||||
Financial instruments indexed to own shares | [10] | 58 | 58 | 58 | ||||||||||||||||||
Dividends paid | (695) | (695) | ||||||||||||||||||||
Dividends paid out of reserves from capital contributions | [11] | (695) | ||||||||||||||||||||
Change in scope of consolidation, net | 160 | 160 | ||||||||||||||||||||
Balance at Jun. 30, 2019 | 43,928 | 43,673 | SFr 102 | SFr 34,219 | 28,901 | SFr (603) | (18,946) | SFr 255 | 46,174 | 45,322 | SFr 4,400 | SFr 45,356 | 11,964 | SFr 0 | [1] | (16,398) | SFr 852 | |||||
Increase (decrease) in shareholders' equity | ||||||||||||||||||||||
Cumulative effect of accounting changes, net of tax | SFr 178 | SFr 178 | SFr 242 | SFr (64) | SFr 178 | SFr 178 | SFr 242 | SFr (64) | ||||||||||||||
[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 cash
Consolidated statements of cash flows - CHF (SFr) SFr in Millions | 6 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | |||
Operating activities of continuing operations | ||||
Net income/(loss) | SFr 1,686 | SFr 1,346 | ||
Adjustments to reconcile net income/(loss) to net cash provided by/(used in) operating activities of continuing operations | ||||
Impairment, depreciation and amortization | 465 | 416 | ||
Provision for credit losses | 106 | 121 | ||
Deferred tax provision/(benefit) | 212 | 446 | ||
Share of net income/(loss) from equity method investments | (51) | (17) | ||
Trading assets and liabilities, net | (11,784) | 24,954 | ||
(Increase)/decrease in other assets | (2,535) | (2,624) | ||
Increase/(decrease) in other liabilities | 1,411 | (10,484) | ||
Other, net | 7,030 | (2,304) | ||
Total adjustments | (5,146) | 10,508 | ||
Net cash provided by/(used in) operating activities | (3,460) | 11,854 | ||
Investing activities of continuing operations | ||||
(Increase)/decrease in interest-bearing deposits with banks | 236 | (299) | ||
(Increase)/decrease in central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 2,920 | (963) | ||
Purchase of investment securities | (307) | (379) | ||
Proceeds from sale of investment securities | 4 | 255 | ||
Maturities of investment securities | 394 | 130 | ||
Investments in subsidiaries and other investments | (147) | (306) | ||
Proceeds from sale of other investments | 592 | 637 | ||
(Increase)/decrease in loans | (9,867) | (10,171) | [1] | |
Proceeds from sale of loans | 2,460 | 3,472 | [1] | |
Capital expenditures for premises and equipment and other intangible assets | (554) | (529) | ||
Proceeds from sale of premises and equipment and other intangible assets | 29 | 29 | ||
Other, net | 222 | 204 | ||
Net cash provided by/(used in) investing activities | (4,018) | (7,920) | ||
Financing activities of continuing operations | ||||
Increase/(decrease) in due to banks and customer deposits | 4,997 | 6,359 | ||
Increase/(decrease) in short-term borrowings | 3,844 | 4,452 | ||
Increase/(decrease) in central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (4,967) | (6,768) | ||
Issuances of long-term debt | 14,637 | 15,911 | ||
Repayments of long-term debt | (18,604) | (20,540) | ||
Sale of treasury shares | 4,720 | 6,175 | ||
Repurchase of treasury shares | (5,718) | (6,899) | ||
Dividends paid/capital repayments | (696) | (665) | ||
Other, net | 1,854 | 262 | ||
Net cash provided by/(used in) financing activities | 67 | (1,713) | ||
Effect of exchange rate changes on cash and due from banks | ||||
Effect of exchange rate changes on cash and due from banks | (147) | 477 | ||
Net increase/(decrease) in cash and due from banks | ||||
Net increase/(decrease) in cash and due from banks | (7,558) | 2,698 | ||
Cash and due from banks at beginning of period | [2] | 100,047 | 109,815 | |
Cash and due from banks at end of period | [2] | 92,489 | 112,513 | |
Cash paid for income taxes and interest | ||||
Cash paid for income taxes | 418 | 382 | ||
Cash paid for interest | 6,759 | 6,352 | ||
Bank | ||||
Operating activities of continuing operations | ||||
Net income/(loss) | 1,560 | 1,258 | ||
Adjustments to reconcile net income/(loss) to net cash provided by/(used in) operating activities of continuing operations | ||||
Impairment, depreciation and amortization | 417 | 372 | ||
Provision for credit losses | 106 | 121 | ||
Deferred tax provision/(benefit) | 241 | 325 | ||
Share of net income/(loss) from equity method investments | (50) | (16) | ||
Trading assets and liabilities, net | (11,946) | 25,012 | ||
(Increase)/decrease in other assets | (1,688) | (2,461) | ||
Increase/(decrease) in other liabilities | 1,685 | (10,572) | ||
Other, net | 7,173 | (2,211) | ||
Total adjustments | (4,062) | 10,570 | ||
Net cash provided by/(used in) operating activities | (2,502) | 11,828 | ||
Investing activities of continuing operations | ||||
(Increase)/decrease in interest-bearing deposits with banks | 237 | (299) | ||
(Increase)/decrease in central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 2,920 | (963) | ||
Purchase of investment securities | (307) | (379) | ||
Proceeds from sale of investment securities | 4 | 255 | ||
Maturities of investment securities | 394 | 130 | ||
Investments in subsidiaries and other investments | (147) | (306) | ||
Proceeds from sale of other investments | 568 | 642 | ||
(Increase)/decrease in loans | (11,065) | (11,587) | [3] | |
Proceeds from sale of loans | 2,460 | 3,472 | [3] | |
Capital expenditures for premises and equipment and other intangible assets | (471) | (476) | ||
Proceeds from sale of premises and equipment and other intangible assets | 29 | 80 | ||
Other, net | 222 | 204 | ||
Net cash provided by/(used in) investing activities | (5,156) | (9,227) | ||
Financing activities of continuing operations | ||||
Increase/(decrease) in due to banks and customer deposits | 4,909 | 6,640 | ||
Increase/(decrease) in short-term borrowings | 3,891 | 4,460 | ||
Increase/(decrease) in central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (4,856) | (6,768) | ||
Issuances of long-term debt | 14,659 | 16,033 | ||
Repayments of long-term debt | (18,604) | (20,540) | ||
Sale of treasury shares | 0 | 0 | ||
Repurchase of treasury shares | 0 | 0 | ||
Dividends paid/capital repayments | (11) | (14) | ||
Other, net | 280 | (772) | ||
Net cash provided by/(used in) financing activities | 268 | (961) | ||
Effect of exchange rate changes on cash and due from banks | ||||
Effect of exchange rate changes on cash and due from banks | (150) | 486 | ||
Net increase/(decrease) in cash and due from banks | ||||
Net increase/(decrease) in cash and due from banks | (7,540) | 2,126 | ||
Cash and due from banks at beginning of period | [4] | 99,314 | 109,510 | |
Cash and due from banks at end of period | [4] | 91,774 | 111,636 | |
Cash paid for income taxes and interest | ||||
Cash paid for income taxes | 400 | 373 | ||
Cash paid for interest | SFr 6,659 | SFr 6,220 | ||
[1] | Prior period has been corrected. | |||
[2] | Includes restricted cash. | |||
[3] | Prior period has been corrected. | |||
[4] | Includes restricted cash. |
Summary of significant accounti
Summary of significant accounting policies | 6 Months Ended |
Jun. 30, 2019 | |
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, 2018 included in the Credit Suisse Annual Report 2018. > Refer to “Note 1 – Summary of significant accounting policies” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2018 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 1Q19 consolidated statements of operations and comprehensive income, the 1Q19 consolidated balance sheets and the 2Q19, 1Q19 and 2Q18 consolidated statements of changes in equity have been added for the convenience of the reader and are not a required presentation under US GAAP. The results of operations for interim periods are not indicative of results for the entire year. In preparing these condensed consolidated financial statements, management is required to make estimates and assumptions which affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the condensed consolidated balance sheets and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Bank | |
Summary of significant accounting policies | 1 Summary of significant accounting policies Basis of presentation The accompanying unaudited condensed consolidated financial statements of Credit Suisse AG (the Bank), the direct bank subsidiary of Credit Suisse Group AG (the Group), are prepared in accordance with accounting principles generally accepted in the US (US GAAP) and are stated in Swiss francs (CHF). These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto for the year ended December 31, 2018, included in the Credit Suisse Group AG & Credit Suisse AG Annual Report 2018 (Credit Suisse Annual Report 2018). > Refer to “Note 1 – Summary of significant accounting policies” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2018 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, 2019 | |
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 2018 for a description of accounting standards adopted in 2018. ASC Topic 220 – Income Statements – Reporting Comprehensive Income In January 2018, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2018-02, “Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income” (ASU 2018-02), an update to Accounting Standards Codification (ASC) Topic 220 – Income Statement – Reporting Comprehensive Income. The amendments in ASU 2018-02 allowed a reclassification from accumulated other comprehensive income (AOCI) to retained earnings for the stranded tax effects resulting from the US Tax Cuts and Jobs Act. ASU 2018-02 was effective for annual reporting periods and interim periods within those periods beginning after December 15, 2018. Early adoption was permitted. The adoption of ASU 2018-02 on January 1, 2019 resulted in a net increase in retained earnings of CHF 64 million as a result of the reclassification from AOCI to retained earnings, which was the result of the re-measurement of deferred tax assets and liabilities associated with the change in tax rates. ASC Topic 350 – Intangibles – Goodwill and Other In August 2018, the FASB issued ASU 2018-15, “Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract” (ASU 2018-15), an update to ASC Subtopic 350-40 – Intangibles – Goodwill and Other – Internal-Use Software. The amendments in ASU 2018-15 align the requirements for capitalizing costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. ASU 2018-15 is effective for annual reporting periods beginning after December 15, 2019, including interim periods within those annual reporting periods and can be applied either retrospectively or prospectively. Early adoption, including adoption in an interim period, was permitted. The Group elected to early adopt ASU 2018-15 prospectively on January 1, 2019. The adoption of ASU 2018-15 did not have a material impact on the Group’s financial position, results of operations or 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 made changes to the hedge accounting model intended to facilitate financial reporting that more closely reflected an entity’s risk management activities and simplified application of hedge accounting. The amendments in ASU 2017-12 provided more hedging strategies that will be eligible for hedge accounting, eased the documentation and effectiveness assessment requirements and resulted in changes to the presentation and disclosure requirements of hedge accounting activities. ASU 2017-12 was 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, was permitted. The adoption of ASU 2017-12 on January 1, 2019 did not have a material impact on the Group’s financial position, results of operations and cash flows. In October 2018, the FASB issued ASU 2018-16, “Inclusion of the Secured Overnight Financing Rate (SOFR) Overnight Index Swap (OIS) Rate as a Benchmark Interest Rate for Hedge Accounting Purposes” (ASU 2018-16), an update to ASC Topic 815 – Derivatives and Hedging. ASU 2018-16 permitted the use of the OIS rate based on the SOFR as a US benchmark interest rate for hedge accounting purposes and was effective for the Group on January 1, 2019. The adoption of ASU 2018-16 on January 1, 2019 did not impact the Group’s existing hedges. ASC Topic 820 – Fair Value Measurement In August 2018, the FASB issued ASU 2018-13, “Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement” (ASU 2018-13), an update to ASC Topic 820 – Fair Value Measurement. The amendments in ASU 2018-13 remove, modify and add certain disclosure requirements in ASC Topic 820, Fair Value Measurement. ASU 2018-13 is effective for annual reporting periods beginning after December 15, 2019 and for the interim periods within those annual reporting periods. Early adoption is permitted, including in an interim period, for any eliminated or modified disclosure requirements. The Group early adopted the provisions for removing and modifying certain disclosures upon issuance of ASU 2018-13. As these amendments relate to disclosures, the adoption did not have an impact on the Group’s financial position, results of operations or cash flows. The Group is currently evaluating the impact of the adoption of the remaining amendments in ASU 2018-13. 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 set out the principles for the recognition, measurement, presentation and disclosure of leases for both lessees and lessors. ASU 2016-02 also included disclosure requirements to provide more information about the amount, timing and uncertainty of cash flows arising from leases. Lessor accounting was substantially unchanged compared to the previous accounting guidance. Under the previous 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 required lessees to present a right-of-use asset and a corresponding lease liability on the balance sheet irrespective of the lease classification. The Group adopted ASU 2016-02 and its subsequent amendments on January 1, 2019 using the modified retrospective approach, with a transition adjustment recognized in retained earnings without restating comparatives. The Group elected the use of the package of practical expedients and the practical expedient to use hindsight. As a result of adoption, the Group recognized lease liabilities and related right-of-use assets of approximately CHF 3.5 billion and CHF 3.3 billion, respectively. In addition, the Group recognized an increase in retained earnings of approximately CHF 0.2 billion, net of tax, which included the release of previously deferred gains on sale lease-back transactions and previously unrecognized impairment losses. Standards to be adopted in future periods 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 a US Securities and Exchange Commission filer, ASU 2016-13 and its subsequent amendments are effective for annual reporting periods beginning after December 15, 2019, including interim periods within those annual reporting periods. Early adoption is permitted for annual reporting periods, including interim periods within those annual reporting periods, beginning after December 15, 2018. The Group plans to adopt ASU 2016-13 and its subsequent amendments on January 1, 2020. The Group has established a cross-functional implementation team and governance structure for the project. The Group has decided on a current expected credit loss (CECL) methodology and continues to adjust for key interpretive issues while monitoring the FASB’s ongoing accounting standards development. The Group intends to utilize multiple macroeconomic scenarios in estimating expected credit losses. Furthermore, the Group will continue to monitor the scope assessment to determine the requirements and data sourcing of the CECL models as well as continue to build and test the models until the effective date. The Group expects to complete model validation and control testing through the remainder of 2019. 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 retained earnings for any changes in credit loss allowances. As the implementation progresses, the Group will continue to evaluate the extent of the impact of the adoption of ASU 2016-13 and its subsequent amendments on the Group’s financial position, results of operations, cash flows and related disclosures. ASC Topic 715 – Compensation – Retirement Benefits In August 2018, the FASB issued ASU 2018-14, “Changes to the Disclosure Requirements for Defined Benefit Plans” (ASU 2018-14), an update to ASC Topic 715 – Compensation—Retirement Benefits—Defined Benefit Plans—General (Subtopic 715-20): Disclosure Framework. ASU 2018-14 modifies the disclosure framework to improve disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. ASU 2018-14 is effective for annual reporting periods ending after December 15, 2020, with early adoption permitted. ASU 2018-14 should be applied on a retrospective approach for all periods presented. As these amendments relate only to disclosures, there will be no impact from the adoption of ASU 2018-14 on the Group’s financial position, results of operations or 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 2018 for a description of accounting standards adopted in 2018. > Refer to “Note 2 – Recently issued accounting standards” in III – Condensed consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q19 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, 2019 | |
Business developments | 3 Business developments and subsequent events Business developments In June 2019, the Group announced an agreement with Allfunds Group (Allfunds) to combine the Group’s open architecture investment fund platform, Credit Suisse InvestLab AG, with Allfunds. The transaction comprises the transfer of all shares in Credit Suisse Investlab AG, including the service agreements and related distribution agreements of Credit Suisse AG, to Allfunds. As part of this combination, Credit Suisse AG will become a minority shareholder of up to 18% in the combined business and will be represented on the board of directors. Going forward, Credit Suisse AG will utilize the combined business platform to distribute mutual funds and exchange-traded funds. The transaction, which is subject to customary closing conditions including anti-trust and regulatory approvals, will be implemented in staggered closings. The closing of the transfer of Credit Suisse InvestLab AG is expected in 3Q19. The subsequent transfer of the related distribution agreements by Credit Suisse AG is expected to be completed in 1Q20. Subsequent events There were no subsequent events since the balance sheet date of the condensed consolidated financial statements. |
Bank | |
Business developments | 3 Business developments and subsequent events > Refer to “Note 3 – Business developments and subsequent events” in III – Condensed consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q19 for further information on business developments. There were no subsequent events since the balance sheet date of the condensed consolidated financial statements. |
Segment information
Segment information | 6 Months Ended |
Jun. 30, 2019 | |
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. Beginning in 2019, the Strategic Resolution Unit has ceased to exist as a separate division of the Group. The residual portfolio remaining as of December 31, 2018 is now managed in an Asset Resolution Unit and is separately disclosed within the Corporate Center. The segment information reflects the Group’s reportable segments and the Corporate Center, which are managed and reported on a pre-tax basis. > Refer to “Note 4 – Segment information” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2018 for further information on segment information, revenue sharing and cost allocation and funding. Net revenues and income/(loss) before taxes in 2Q19 1Q19 2Q18 6M19 6M18 Net revenues (CHF million) Swiss Universal Bank 1,476 1,379 1,419 2,855 2,850 International Wealth Management 1,369 1,417 1,344 2,786 2,747 Asia Pacific 913 854 914 1,767 1,905 Global Markets 1,553 1,472 1,426 3,025 2,972 Investment Banking & Capital Markets 454 356 644 810 1,172 Strategic Resolution Unit 1 – – (176) – (379) Corporate Center (184) (91) 24 (275) (36) Net revenues 5,581 5,387 5,595 10,968 11,231 Income/(loss) before taxes (CHF million) Swiss Universal Bank 654 550 553 1,204 1,116 International Wealth Management 444 523 433 967 917 Asia Pacific 237 183 217 420 451 Global Markets 357 282 148 639 443 Investment Banking & Capital Markets 6 (93) 110 (87) 169 Strategic Resolution Unit 1 – – (368) – (777) Corporate Center (396) (383) (41) (779) (213) Income/(loss) before taxes 1,302 1,062 1,052 2,364 2,106 1 Beginning in 2019, the Strategic Resolution Unit has ceased to exist as a separate division of the Group. The residual portfolio remaining as of December 31, 2018 is now managed in an Asset Resolution Unit and is separately disclosed within the Corporate Center. Total assets end of 2Q19 1Q19 4Q18 Total assets (CHF million) Swiss Universal Bank 229,705 228,664 224,301 International Wealth Management 94,591 93,968 91,835 Asia Pacific 106,592 105,868 99,809 Global Markets 217,930 227,482 211,530 Investment Banking & Capital Markets 17,667 17,494 16,156 Strategic Resolution Unit 1 – – 20,874 Corporate Center 117,731 120,160 104,411 Total assets 784,216 793,636 768,916 1 Beginning in 2019, the Strategic Resolution Unit has ceased to exist as a separate division of the Group. The residual portfolio remaining as of December 31, 2018 is now managed in an Asset Resolution Unit and is separately disclosed within the Corporate Center. |
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 2Q19 for further information. For the purpose of presentation of reportable segments, the Bank has included accounts of affiliate entities wholly owned by the same parent which are managed together with the operating segments of the Bank. Net revenues and income/(loss) before taxes in 6M19 6M18 Net revenues (CHF million) Swiss Universal Bank 2,855 2,850 International Wealth Management 2,786 2,747 Asia Pacific 1,767 1,905 Global Markets 3,025 2,972 Investment Banking & Capital Markets 810 1,172 Strategic Resolution Unit 1 – (379) Adjustments 2 (132) (71) Net revenues 11,111 11,196 Income/(loss) before taxes (CHF million) Swiss Universal Bank 1,204 1,116 International Wealth Management 967 917 Asia Pacific 420 451 Global Markets 639 443 Investment Banking & Capital Markets (87) 169 Strategic Resolution Unit 1 – (777) Adjustments 2 (882) (432) Income/(loss) before taxes 2,261 1,887 1 Beginning in 2019, the Strategic Resolution Unit has ceased to exist as a separate division of the Group. The residual portfolio remaining as of December 31, 2018 is now managed in an Asset Resolution Unit and is separately disclosed within the Corporate Center. 2 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 6M19 2018 Total assets (CHF million) Swiss Universal Bank 229,705 224,301 International Wealth Management 94,591 91,835 Asia Pacific 106,592 99,809 Global Markets 217,930 211,530 Investment Banking & Capital Markets 17,667 16,156 Strategic Resolution Unit 1 – 20,874 Adjustments 2 120,343 107,564 Total assets 786,828 772,069 1 Beginning in 2019, the Strategic Resolution Unit has ceased to exist as a separate division of the Group. The residual portfolio remaining as of December 31, 2018 is now managed in an Asset Resolution Unit and is separately disclosed within the Corporate Center. 2 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, 2019 | |
Net interest income | 5 Net interest income in 2Q19 1Q19 2Q18 6M19 6M18 Net interest income (CHF million) Loans 1,855 1,787 1,679 3,642 3,282 Investment securities 3 3 20 6 30 Trading assets 2,246 1,500 1,968 3,746 3,540 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 779 781 706 1,560 1,363 Other 770 747 717 1,517 1,326 Interest and dividend income 5,653 4,818 5,090 10,471 9,541 Deposits (808) (783) (587) (1,591) (1,037) Short-term borrowings (114) (97) (123) (211) (205) Trading liabilities (1,069) (714) (1,144) (1,783) (2,004) Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions (456) (482) (477) (938) (876) Long-term debt (910) (904) (982) (1,814) (1,892) Other (295) (306) (184) (601) (349) Interest expense (3,652) (3,286) (3,497) (6,938) (6,363) Net interest income 2,001 1,532 1,593 3,533 3,178 |
Bank | |
Net interest income | 5 Net interest income in 6M19 6M18 Net interest income (CHF million) Loans 3,646 3,285 Investment securities 5 30 Trading assets 3,746 3,540 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 1,560 1,363 Other 1,519 1,328 Interest and dividend income 10,476 9,546 Deposits (1,593) (1,038) Short-term borrowings (218) (210) Trading liabilities (1,783) (2,004) Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions (938) (876) Long-term debt (1,788) (1,828) Other (601) (347) Interest expense (6,921) (6,303) Net interest income 3,555 3,243 |
Commissions and fees
Commissions and fees | 6 Months Ended |
Jun. 30, 2019 | |
Commissions and fees | 6 Commissions and fees in 2Q19 1Q19 2Q18 6M19 6M18 Commissions and fees (CHF million) Lending business 443 396 529 839 999 Investment and portfolio management 846 845 896 1,691 1,788 Other securities business 16 12 11 28 23 Fiduciary business 862 857 907 1,719 1,811 Underwriting 514 345 513 859 983 Brokerage 734 693 745 1,427 1,555 Underwriting and brokerage 1,248 1,038 1,258 2,286 2,538 Other services 374 321 465 695 857 Commissions and fees 2,927 2,612 3,159 5,539 6,205 |
Bank | |
Commissions and fees | 6 Commissions and fees in 6M19 6M18 Commissions and fees (CHF million) Lending business 827 984 Investment and portfolio management 1,612 1,693 Other securities business 46 44 Fiduciary business 1,658 1,737 Underwriting 861 983 Brokerage 1,435 1,556 Underwriting and brokerage 2,296 2,539 Other services 702 866 Commissions and fees 5,483 6,126 |
Trading revenues
Trading revenues | 6 Months Ended |
Jun. 30, 2019 | |
Trading revenues | 7 Trading revenues in 2Q19 1Q19 2Q18 6M19 6M18 Trading revenues (CHF million) Interest rate products (334) 430 (301) 96 556 Foreign exchange products (60) (215) (31) (275) 153 Equity/index-related products 114 740 723 854 396 Credit products 198 (328) 65 (130) 99 Commodity and energy products 36 48 13 84 39 Other products 228 165 59 393 (137) Trading revenues 182 840 528 1,022 1,106 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 2018 for further information on trading revenues and managing trading risks. |
Bank | |
Trading revenues | 7 Trading revenues in 6M19 6M18 Trading revenues (CHF million) Interest rate products 94 559 Foreign exchange products (276) 152 Equity/index-related products 924 336 Credit products (130) 99 Commodity and energy products 84 39 Other products 391 (137) Trading revenues 1,087 1,048 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, 2019 | |
Other revenues | 8 Other revenues in 2Q19 1Q19 2Q18 6M19 6M18 Other revenues (CHF million) Noncontrolling interests without SEI 0 0 0 0 (1) Loans held-for-sale (7) (9) 1 (16) 11 Long-lived assets held-for-sale 74 29 0 103 16 Equity method investments 54 56 52 110 121 Other investments 121 102 61 223 189 Other 229 225 201 454 406 Other revenues 471 403 315 874 742 |
Bank | |
Other revenues | 8 Other revenues in 6M19 6M18 Other revenues (CHF million) Loans held-for-sale (16) 11 Long-lived assets held-for-sale 103 16 Equity method investments 109 119 Other investments 222 188 Other 568 445 Other revenues 986 779 |
Provision for credit losses
Provision for credit losses | 6 Months Ended |
Jun. 30, 2019 | |
Provision for credit losses | 9 Provision for credit losses in 2Q19 1Q19 2Q18 6M19 6M18 Provision for credit losses (CHF million) Provision for loan losses 15 75 60 90 96 Provision for lending-related and other exposures 10 6 13 16 25 Provision for credit losses 25 81 73 106 121 |
Bank | |
Provision for credit losses | 9 Provision for credit losses in 6M19 6M18 Provision for credit losses (CHF million) Provision for loan losses 90 96 Provision for lending-related and other exposures 16 25 Provision for credit losses 106 121 |
Compensation and benefits
Compensation and benefits | 6 Months Ended |
Jun. 30, 2019 | |
Compensation and benefits | 10 Compensation and benefits in 2Q19 1Q19 2Q18 6M19 6M18 Compensation and benefits (CHF million) Salaries and variable compensation 2,161 2,170 2,148 4,331 4,337 Social security 187 159 200 346 360 Other 1 197 189 199 386 388 Compensation and benefits 2,545 2,518 2,547 5,063 5,085 1 Includes pension-related expenses of CHF 112 million, CHF 108 million, CHF 108 million, CHF 220 million and CHF 215 million in 2Q19 1Q19 2Q18 6M19 6M18 |
Bank | |
Compensation and benefits | 10 Compensation and benefits in 6M19 6M18 Compensation and benefits (CHF million) Salaries and variable compensation 3,900 3,943 Social security 301 315 Other 408 1 443 Compensation and benefits 4,609 4,701 1 Includes pension-related expenses of CHF 256 million and CHF 278 million in 6M19 and 6M18, respectively, relating to service costs for defined benefit pension plans and employer contributions for defined contribution pension plans. |
General and administrative expe
General and administrative expenses | 6 Months Ended |
Jun. 30, 2019 | |
General and administrative expenses | 11 General and administrative expenses in 2Q19 1Q19 2Q18 6M19 6M18 General and administrative expenses (CHF million) Occupancy expenses 247 282 248 529 488 IT, machinery, etc. 326 323 273 649 550 Provisions and losses 78 58 97 136 237 Travel and entertainment 88 78 83 166 177 Professional services 407 403 428 810 911 Amortization and impairment of other intangible assets 1 2 2 3 5 Other 1 248 267 289 515 560 General and administrative expenses 1,395 1,413 1,420 2,808 2,928 1 Includes pension-related expenses/(credits) of CHF (52) (34) (52) (86) (105) 2Q19 1Q19 2Q18 6M19 6M18 |
Bank | |
General and administrative expenses | 11 General and administrative expenses in 6M19 6M18 General and administrative expenses (CHF million) Occupancy expenses 478 435 IT, machinery, etc. 515 428 Provisions and losses 136 237 Travel and entertainment 151 164 Professional services 1,497 1,490 Amortization and impairment of other intangible assets 3 5 Other 1 728 799 General and administrative expenses 3,508 3,558 1 Includes pension-related expenses/(credits) of CHF 5 million and CHF 15 million in 6M19 and 6M18, respectively, relating to certain components of net periodic benefit costs for defined benefit plans. |
Restructuring expenses
Restructuring expenses | 6 Months Ended |
Jun. 30, 2019 | |
Restructuring, Impairment, and Other Activities Disclosure [Text Block] | 12 Restructuring expenses The Group completed the three-year restructuring plan in connection with the implementation of the revised Group strategy by the end of 2018. Restructuring expenses primarily included 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 6M18 Restructuring expenses by segment (CHF million) Swiss Universal Bank 27 55 International Wealth Management 28 54 Asia Pacific 20 26 Global Markets 56 98 Investment Banking & Capital Markets 31 61 Strategic Resolution Unit 1 13 24 Corporate Center 0 1 Total restructuring expenses 175 319 1 Beginning in 2019, the Strategic Resolution Unit has ceased to exist as a separate division of the Group. The residual portfolio remaining as of December 31, 2018 is now managed in an Asset Resolution Unit and is separately disclosed within the Corporate Center. Restructuring expenses by type in 2Q18 6M18 Restructuring expenses by type (CHF million) Compensation and benefits-related expenses 85 188 of which severance expenses 58 127 of which accelerated deferred compensation 27 61 General and administrative-related expenses 90 131 of which pension expenses 25 52 Total restructuring expenses 175 319 Restructuring provision 6M19 6M18 Compen- General and Compen- General and Restructuring provision (CHF million) Balance at beginning of period 156 190 346 196 110 306 Net additional charges 1 – – – 127 75 202 Reclassifications (156) 2 (190) 3 (346) – – – Utilization – – – (131) (48) (179) Balance at end of period 0 0 0 192 137 329 1 The following items for which expense accretion was accelerated in 6M18 due to the restructuring of the Group are not included in the restructuring provision: unsettled share-based compensation of CHF 46 million, which remain classified as a component of total shareholders’ equity; unsettled pension obligations of CHF 52 million, which remain classified as pension liabilities; unsettled cash-based deferred compensation of CHF 15 million, which remain classified as compensation liabilities; and accelerated accumulated depreciation and impairment of CHF 4 million, which remain classified as premises and equipment. The settlement date for the unsettled share-based compensation remains unchanged at three years. 2 In 6M19, CHF 97 million were transferred to litigation provisions and CHF 59 million were transferred to other liabilities. 3 In 6M19, CHF 167 million were transferred to right-of-use assets in accordance with ASU 2016-02 and CHF 23 million to other liabilities. |
Bank | |
Restructuring, Impairment, and Other Activities Disclosure [Text Block] | 12 Restructuring expenses The Bank completed the three-year restructuring plan in connection with the implementation of the revised Bank strategy by the end of 2018. Restructuring expenses primarily included 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 Restructuring expenses by segment (CHF million) Swiss Universal Bank 55 International Wealth Management 54 Asia Pacific 26 Global Markets 98 Investment Banking & Capital Markets 61 Strategic Resolution Unit 1 24 Corporate Center 1 Adjustments 2 (62) Total restructuring expenses 257 1 Beginning in 2019, the Strategic Resolution Unit has ceased to exist as a separate division of the Group. The residual portfolio remaining as of December 31, 2018 is now managed in an Asset Resolution Unit and is separately disclosed within the Corporate Center. 2 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 Restructuring expenses by type (CHF million) Compensation and benefits-related expenses 180 of which severance expenses 119 of which accelerated deferred compensation 61 General and administrative-related expenses 77 Total restructuring expenses 257 Restructuring provision 6M19 6M18 Compen- General and Compen- General and Restructuring provision (CHF million) Balance at beginning of period 152 190 342 191 110 301 Net additional charges 1 – – – 119 73 192 Reclassifications (152) 2 (190) 3 (342) – – – Utilization – – – (123) (46) (169) Balance at end of period 0 0 0 187 137 324 1 The following items for which expense accretion was accelerated in 6M18 due to the restructuring of the Bank are not included in the restructuring provision: unsettled share-based compensation of CHF 46 million; unsettled cash-based deferred compensation of CHF 15 million, which remain classified as compensation liabilities; and accelerated accumulated depreciation and impairment of CHF 4 million, which remain classified as premises and equipment. The settlement date for the unsettled share-based compensation remains unchanged at three years. 2 In 6M19, CHF 97 million were transferred to litigation provisions and CHF 55 million were transferred to other liabilities. 3 In 6M19, CHF 167 million were transferred to right-of-use assets in accordance with ASU 2016-02 and CHF 23 million to other liabilities. |
Earnings per share
Earnings per share | 6 Months Ended |
Jun. 30, 2019 | |
Earnings per share | 13 Earnings per share in 2Q19 1Q19 2Q18 6M19 6M18 Basic net income/(loss) attributable to shareholders (CHF million) Net income attributable to shareholders for basic earnings per share 937 749 647 1,686 1,341 Net income attributable to shareholders for diluted earnings per share 937 749 647 1,686 1,341 Weighted-average shares outstanding (million) For basic earnings per share available for common shares 2,546.1 2,573.1 2,581.9 2,559.6 2,584.1 Dilutive share options and warrants 4.0 3.4 3.3 3.6 2.8 Dilutive share awards 46.4 45.3 44.9 45.9 55.0 For diluted earnings per share available for common shares 1 2,596.5 2,621.8 2,630.1 2,609.1 2,641.9 Earnings/(loss) per share available for common shares (CHF) Basic earnings per share available for common shares 0.37 0.29 0.25 0.66 0.52 Diluted earnings per share available for common shares 0.36 0.29 0.25 0.65 0.51 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 6.2 million, 6.7 million, 9.1 million, 6.5 million and 10.4 million for 2Q19, 1Q19, 2Q18, 6M19 and 6M18, respectively. |
Revenue from contracts with cus
Revenue from contracts with customers | 6 Months Ended |
Jun. 30, 2019 | |
Revenue from Contract with Customer [Text Block] | 14 Revenue from contracts with customers The Group receives investment advisory and investment management fees for services provided in its wealth management businesses which are generally reflected in the line item ‘Investment and portfolio management’ in the table “Contracts with customers and disaggregation of revenues”. As a fund manager, the Group typically receives base management fees and may additionally receive performance-based management fees which are both recognized as ‘Investment and portfolio management’ revenues in the table “Contracts with customers and disaggregation of revenues”. The Group’s capital markets businesses underwrite and sell securities on behalf of customers and receives underwriting fees. The Group also offers brokerage services in its investment banking businesses, including global securities sales, trading and execution, prime brokerage and investment research. For the services provided, for example the execution of client trades in securities or derivatives, the Group typically earns a brokerage commission when the trade is executed. Credit Suisse’s investment banking businesses provide services that include advisory services to clients in connection with corporate finance activities. The term ‘advisory’ includes any type of service the Group provides in an advisory capacity. Revenues recognized from these services are reflected in the line item ‘Other Services’ in the table. Contracts with customers and disaggregation of revenues in 2Q19 1Q19 2Q18 6M19 6M18 Contracts with customers (CHF million) Investment and portfolio management 846 845 896 1,691 1,788 Other securities business 16 12 11 28 23 Underwriting 514 345 513 859 983 Brokerage 732 694 749 1,426 1,559 Other services 375 322 471 697 958 Total revenues from contracts with customers 2,483 2,218 2,640 4,701 5,311 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 2Q19 1Q19 4Q18 Contract balances (CHF million) Contract receivables 901 839 791 Contract liabilities 63 58 56 Revenue recognized in the reporting period included in the contract liabilities balance at the beginning of period 10 7 16 The Group’s contract terms are generally such that they do not result in any contract assets. The Group did not recognize any revenue in the reporting period from performance obligations satisfied in previous periods. 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). The Group determined that no material remaining performance obligations are in scope of the remaining performance obligations disclosure. > Refer to “Note 14 – Revenue from contracts with customers” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2018 for further information. |
Bank | |
Revenue from Contract with Customer [Text Block] | 13 Revenue from contracts with customers > Refer to “Note 14 – Revenue from contracts with customers” in III – Condensed consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q19 for further information. Contracts with customers and disaggregation of revenues in 6M19 6M18 Contracts with customers (CHF million) Investment and portfolio management 1,612 1,693 Other securities business 46 44 Underwriting 861 983 Brokerage 1,433 1,560 Other services 745 966 Total revenues from contracts with customers 4,697 5,246 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 2Q19 1Q19 4Q18 Contract balances (CHF million) Contract receivables 931 858 789 Contract liabilities 63 58 56 Revenue recognized in the reporting period included in the contract liabilities balance at the beginning of period 10 7 16 The Bank’s contract terms are generally such that they do not result in any contract assets. The Bank did not recognize any revenues in the reporting period from performance obligations satisfied in previous periods. Remaining performance obligations ASC Topic 606’s practical expedient allows the Bank to exclude from its remaining performance obligations disclosure 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). The Bank determined that no material remaining performance obligations are in scope of the remaining performance obligations disclosure. > Refer to “Note 13 – Revenue from contracts with customers” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2018 for further information. |
Trading assets and liabilities
Trading assets and liabilities | 6 Months Ended |
Jun. 30, 2019 | |
Trading assets and liabilities | 15 Trading assets and liabilities end of 2Q19 1Q19 4Q18 Trading assets (CHF million) Debt securities 64,468 62,272 63,567 Equity securities 56,317 58,845 46,463 Derivative instruments 1 19,561 18,353 18,312 Other 5,267 5,452 5,293 Trading assets 145,613 144,922 133,635 Trading liabilities (CHF million) Short positions 28,521 25,195 26,946 Derivative instruments 1 14,835 14,341 15,223 Trading liabilities 43,356 39,536 42,169 1 Amounts shown after counterparty and cash collateral netting. Cash collateral on derivative instruments end of 2Q19 1Q19 4Q18 Cash collateral on derivatives instruments – netted (CHF million) 1 Cash collateral paid 19,550 18,520 20,216 Cash collateral received 16,052 14,098 13,213 Cash collateral on derivatives instruments– not netted (CHF million) 2 Cash collateral paid 5,692 5,358 7,057 Cash collateral received 7,048 6,867 6,903 1 Recorded as cash collateral netting on derivative instruments in Note 24 – Offsetting of financial assets and financial liabilities. 2 Recorded as cash collateral on derivative instruments in Note 20 – Other assets and other liabilities. |
Bank | |
Trading assets and liabilities | 14 Trading assets and liabilities end of 6M19 2018 Trading assets (CHF million) Debt securities 64,555 63,648 1 Equity securities 56,376 46,517 Derivative instruments 2 19,561 18,402 Other 5,266 5,292 Trading assets 145,758 133,859 1 Trading liabilities (CHF million) Short positions 28,535 26,948 Derivative instruments 2 14,835 15,223 Trading liabilities 43,370 42,171 1 Residential and commercial mortgage-backed securities that were previously reported in investment securities have been reclassified to trading assets as these securities are carried at fair value under the fair value option. 2 Amounts shown after counterparty and cash collateral netting. Cash collateral on derivative instruments end of 6M19 2018 Cash collateral on derivative instruments – netted (CHF million) 1 Cash collateral paid 19,597 20,333 Cash collateral received 16,052 13,213 Cash collateral on derivative instruments – not netted (CHF million) 2 Cash collateral paid 5,693 7,057 Cash collateral received 7,048 6,903 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 19 – Other assets and other liabilities. |
Investment securities
Investment securities | 6 Months Ended |
Jun. 30, 2019 | |
Investment securities | 16 Investment securities end of 2Q19 1Q19 4Q18 Investment securities (CHF million) Debt securities available-for-sale 1,398 1,716 1,479 Total investment securities 1,398 1,716 1,479 Investment securities by type 2Q19 4Q18 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 2 0 0 2 Debt securities issued by foreign governments 749 12 0 761 821 7 0 828 Corporate debt securities 605 30 0 635 649 0 0 649 Debt securities available-for-sale 1,356 42 0 1,398 1,472 7 0 1,479 Proceeds from sales, realized gains and realized losses from debt securities available-for-sale in 6M19 6M18 Additional information – debt securities (CHF million) Proceeds from sales 4 255 Realized gains 0 8 Amortized cost, fair value and average yield of debt securities Debt securities Average 2Q19 (CHF million, except where indicated) Due within 1 year 744 746 0.80 Due from 1 to 5 years 2 2 3.50 Due from 5 to 10 years 610 650 0.85 Total debt securities 1,356 1,398 0.83 |
Bank | |
Investment securities (old to delete) | 15 Investment securities end of 6M19 2018 1 Investment securities (CHF million) Securities available-for-sale 1,396 1,477 Total investment securities 1,396 1,477 1 Previously included residential and commercial mortgage-backed securities which have been reclassified to trading assets as these securities are carried at fair value under the fair value option. Investment securities by type 6M19 2018 1 Gross Gross Gross Gross Investment securities by type (CHF million) Debt securities issued by foreign governments 749 12 0 761 821 7 0 828 Corporate debt securities 605 30 0 635 649 0 0 649 Debt securities available-for-sale 1,354 42 0 1,396 1,470 7 0 1,477 1 Previously included residential and commercial mortgage-backed securities which have been reclassified to trading assets as these securities are carried at fair value under the fair value option. Proceeds from sales, realized gains and realized losses from debt securities available-for-sale in 6M19 6M18 Additional information - debt securities (CHF million) Proceeds from sales 4 255 Realized gains 0 8 Amortized cost, fair value and average yield of debt securities Debt securities Average 6M19 (CHF million) Due within 1 year 744 746 0.80 Due from 5 to 10 years 610 650 0.85 Total debt securities 1,354 1,396 0.82 |
Other investments
Other investments | 6 Months Ended |
Jun. 30, 2019 | |
Other investments | 17 Other investments end of 2Q19 1Q19 4Q18 Other investments (CHF million) Equity method investments 2,392 2,469 2,467 Equity securities (without a readily determinable fair value) 1 1,360 1,132 1,207 of which at net asset value 622 442 530 of which at measurement alternative 255 248 227 of which at fair value 248 205 208 of which at cost less impairment 235 237 242 Real estate held-for-investment 2 79 79 79 Life finance instruments 3 1,155 1,159 1,137 Total other investments 4,986 4,839 4,890 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 2Q19, 1Q19 and 4Q18, real estate held for investment included foreclosed or repossessed real estate of CHF 3 million, all related to residential real estate. 3 Includes life settlement contracts at investment method and single premium immediate annuity contracts. Equity securities at measurement alternative – impairments and adjustments in / end of 6M19 Cumulative 6M18 Impairments and adjustments (CHF million) Impairments and downward adjustments 0 (7) (3) Upward adjustments 11 11 0 > Refer to “Note 31 – Financial instruments” for further information on equity securities without a readily determinable fair value. No impairments were recorded on real estate held-for-investments in 2Q19, 1Q19, 2Q18, 6M19 and 6M18, respectively. Accumulated depreciation related to real estate held-for-investment amounted to CHF 32 million, CHF 32 million and CHF 31 million for 2Q19, 1Q19 and 4Q18, respectively. |
Bank | |
Other investments | 16 Other investments end of 6M19 2018 Other investments (CHF million) Equity method investments 2,380 2,429 Equity securities (without a readily determinable fair value) 1 1,356 1,202 of which at net asset value 620 526 of which at measurement alternative 254 227 of which at fair value 248 208 of which at cost less impairment 234 241 Real estate held-for-investment 2 55 56 Life finance instruments 3 1,155 1,137 Total other investments 4,946 4,824 1 Includes private equity, hedge funds and restricted stock investments as well as certain investments in non-marketable mutual funds for which the Bank has neither significant influence nor control over the investee. 2 As of the end of 6M19 and 2018, real estate held for investment included foreclosed or repossessed real estate of CHF 3 million, 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 6M19 Cumulative 6M18 Impairments and adjustments (CHF million) Impairments and downward adjustments 0 (7) (3) Upward adjustments 11 11 0 > Refer to “Note 30 – Financial instruments” for further information on equity securities without a readily determinable fair value. No impairments were recorded on real estate held-for-investment in 6M19 and 6M18. Accumulated depreciation related to real estate held-for-investment amounted to CHF 28 million and CHF 27 million for 6M19 and 2018, respectively. |
Loans, allowance for loan losse
Loans, allowance for loan losses and credit quality | 6 Months Ended |
Jun. 30, 2019 | |
Loans, allowance for loan losses and credit quality | 18 Loans, allowance for loan losses and credit quality > Refer to “Note 19 – Loans, allowance for loan losses and credit quality” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2018 for further information on loans, allowance for loan losses, credit quality, value of collateral and impaired loans. Loans end of 2Q19 1Q19 4Q18 Loans (CHF million) Mortgages 108,919 108,701 107,845 Loans collateralized by securities 44,317 43,126 42,034 Consumer finance 4,965 4,537 3,905 Consumer 158,201 156,364 153,784 Real estate 27,857 26,865 26,727 Commercial and industrial loans 87,731 88,305 85,698 Financial institutions 16,933 18,488 18,494 Governments and public institutions 4,066 4,027 3,893 Corporate & institutional 136,587 137,685 134,812 Gross loans 294,788 294,049 288,596 of which held at amortized cost 281,951 278,744 273,723 of which held at fair value 12,837 15,305 14,873 Net (unearned income)/deferred expenses (109) (113) (113) Allowance for loan losses (882) (966) (902) Net loans 293,797 292,970 287,581 Gross loans by location (CHF million) Switzerland 163,225 161,797 160,444 Foreign 131,563 132,252 128,152 Gross loans 294,788 294,049 288,596 Impaired loan portfolio (CHF million) Non-performing loans 1,183 1,232 1,203 Non-interest-earning loans 310 324 300 Non-performing and non-interest-earning loans 1,493 1,556 1,503 Restructured loans 274 282 299 Potential problem loans 268 310 390 Other impaired loans 542 592 689 Gross impaired loans 2,035 2,148 2,192 Allowance for loan losses by loan portfolio 2Q19 1Q19 2Q18 Corporate & Corporate & Corporate & Allowance for loan losses (CHF million) Balance at beginning of period 181 785 966 187 715 902 204 654 858 Net movements recognized in statements of operations 10 5 15 12 63 75 16 44 60 Gross write-offs (25) (87) (112) (23) (6) (29) (15) (27) (42) Recoveries 2 10 12 1 2 3 2 8 10 Net write-offs (23) (77) (100) (22) (4) (26) (13) (19) (32) Provisions for interest 3 7 10 2 9 11 4 3 7 Foreign currency translation impact and other adjustments, net 0 (9) (9) 2 2 4 2 10 12 Balance at end of period 171 711 882 181 785 966 213 692 905 of which individually evaluated for impairment 130 446 576 140 509 649 172 474 646 of which collectively evaluated for impairment 41 265 306 41 276 317 41 218 259 Gross loans held at amortized cost (CHF million) Balance at end of period 158,176 123,775 281,951 156,339 122,405 278,744 155,258 117,711 272,969 of which individually evaluated for impairment 1 648 1,387 2,035 671 1,477 2,148 633 1,469 2,102 of which collectively evaluated for impairment 157,528 122,388 279,916 155,668 120,928 276,596 154,625 116,242 270,867 6M19 6M18 Corporate & Corporate & Allowance for loan losses (CHF million) Balance at beginning of period 187 715 902 220 662 882 Net movements recognized in statements of operations 22 68 90 20 76 96 Gross write-offs (48) (93) (141) (39) (81) (120) Recoveries 3 12 15 5 21 26 Net write-offs (45) (81) (126) (34) (60) (94) Provisions for interest 5 16 21 6 9 15 Foreign currency translation impact and other adjustments, net 2 (7) (5) 1 5 6 Balance at end of period 171 711 882 213 692 905 1 Represents gross impaired loans both with and without a specific allowance. Purchases, reclassifications and sales 2Q19 1Q19 2Q18 Corporate & Corporate & Corporate & 1 Loans held at amortized cost (CHF million) Purchases 2 0 472 472 0 505 505 0 541 541 Reclassifications from loans held-for-sale 3 0 10 10 0 1 1 0 1 1 Reclassifications to loans held-for-sale 4 0 555 555 0 1,193 1,193 1 855 856 Sales 4 0 491 491 0 1,115 1,115 1 799 800 1 Prior period has been corrected. 2 Includes drawdowns under purchased loan commitments. 3 Includes loans previously reclassified to held-for-sale that were not sold and were reclassified back to loans held-to-maturity. 4 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 6M19 6M18 Corporate & Corporate & 1 Loans held at amortized cost (CHF million) Purchases 2 0 977 977 0 1,034 1,034 Reclassifications from loans held-for-sale 3 0 11 11 0 1 1 Reclassifications to loans held-for-sale 4 0 1,748 1,748 1 1,216 1,217 Sales 4 0 1,606 1,606 1 1,129 1,130 1 Prior period has been corrected. 2 Includes drawdowns under purchased loan commitments. 3 Includes loans previously reclassified to held-for-sale that were not sold and were reclassified back to loans held-to-maturity. 4 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 2Q19 (CHF million) Mortgages 98,707 9,844 368 108,919 Loans collateralized by securities 41,092 3,164 61 44,317 Consumer finance 2,252 2,518 170 4,940 Consumer 142,051 15,526 599 158,176 Real estate 19,909 6,898 130 26,937 Commercial and industrial loans 42,110 39,300 1,143 82,553 Financial institutions 10,789 2,125 87 13,001 Governments and public institutions 1,244 40 0 1,284 Corporate & institutional 74,052 48,363 1,360 123,775 Gross loans held at amortized cost 216,103 63,889 1,959 281,951 Value of collateral 1 196,992 49,464 1,423 247,879 4Q18 (CHF million) Mortgages 97,404 10,046 395 107,845 Loans collateralized by securities 39,281 2,676 77 42,034 Consumer finance 1,465 2,247 170 3,882 Consumer 138,150 14,969 642 153,761 Real estate 19,461 6,494 110 26,065 Commercial and industrial loans 40,872 37,633 1,268 79,773 Financial institutions 10,715 2,138 86 12,939 Governments and public institutions 1,132 53 0 1,185 Corporate & institutional 72,180 46,318 1,464 119,962 Gross loans held at amortized cost 210,330 61,287 2,106 273,723 Value of collateral 1 192,579 47,999 1,456 242,034 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 2Q19 (CHF million) Mortgages 108,394 141 80 36 268 525 108,919 Loans collateralized by securities 44,231 13 0 0 73 86 44,317 Consumer finance 4,226 463 47 50 154 714 4,940 Consumer 156,851 617 127 86 495 1,325 158,176 Real estate 26,633 133 40 66 65 304 26,937 Commercial and industrial loans 81,413 360 24 39 717 1,140 82,553 Financial institutions 12,646 264 1 4 86 355 13,001 Governments and public institutions 1,217 66 1 0 0 67 1,284 Corporate & institutional 121,909 823 66 109 868 1,866 123,775 Gross loans held at amortized cost 278,760 1,440 193 195 1,363 3,191 281,951 4Q18 (CHF million) Mortgages 107,364 155 23 10 293 481 107,845 Loans collateralized by securities 41,936 21 0 0 77 98 42,034 Consumer finance 3,383 286 35 32 146 499 3,882 Consumer 152,683 462 58 42 516 1,078 153,761 Real estate 25,914 63 4 0 84 151 26,065 Commercial and industrial loans 78,439 378 96 82 778 1,334 79,773 Financial institutions 12,768 66 1 19 3 83 1 171 12,939 Governments and public institutions 1,172 13 0 0 0 13 1,185 Corporate & institutional 118,293 520 119 85 945 1,669 119,962 Gross loans held at amortized cost 270,976 982 177 127 1,461 2,747 273,723 1 Prior period has been corrected. Gross impaired loans by category Non-performing and Non- 2Q19 (CHF million) Mortgages 318 14 332 26 38 64 396 1 Loans collateralized by securities 61 13 74 0 0 0 74 Consumer finance 171 6 177 0 1 1 178 Consumer 550 33 583 26 39 65 648 Real estate 86 4 90 0 44 44 134 Commercial and industrial loans 503 231 734 248 183 431 1,165 Financial institutions 44 42 86 0 2 2 88 Corporate & institutional 633 277 910 248 229 477 1,387 Gross impaired loans 1,183 310 1,493 274 268 542 2,035 4Q18 (CHF million) Mortgages 304 12 316 34 72 106 422 1 Loans collateralized by securities 62 13 75 0 3 3 78 Consumer finance 170 6 176 0 1 1 177 Consumer 536 31 567 34 76 110 677 Real estate 80 4 84 0 38 38 122 Commercial and industrial loans 547 223 770 265 272 537 1,307 Financial institutions 40 42 82 0 4 4 86 Corporate & institutional 667 269 936 265 314 579 1,515 Gross impaired loans 1,203 300 1,503 299 390 689 2,192 1 As of the end of 2Q19 and 4Q18, CHF 136 million and CHF 123 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 2Q19 4Q18 Unpaid Associated Unpaid Associated CHF million Mortgages 313 297 22 278 262 21 Loans collateralized by securities 74 63 18 77 63 35 Consumer finance 175 153 90 174 154 90 Consumer 562 513 130 529 479 146 Real estate 87 79 10 82 73 10 Commercial and industrial loans 786 756 366 773 742 401 Financial institutions 87 82 70 86 84 51 Corporate & institutional 960 917 446 941 899 462 Gross impaired loans with a specific allowance 1,522 1,430 576 1,470 1,378 608 Mortgages 83 83 – 144 144 – Loans collateralized by securities 0 0 – 1 1 – Consumer finance 3 3 – 3 3 – Consumer 86 86 – 148 148 – Real estate 47 47 – 40 40 – Commercial and industrial loans 379 379 – 534 534 – Financial institutions 1 1 – 0 0 – Corporate & institutional 427 427 – 574 574 – Gross impaired loans without specific allowance 513 513 – 722 722 – Gross impaired loans 2,035 1,943 576 2,192 2,100 608 of which consumer 648 599 130 677 627 146 of which corporate & institutional 1,387 1,344 446 1,515 1,473 462 Gross impaired loan detail (continued) 2Q19 1Q19 2Q18 Interest Interest Interest CHF million Mortgages 259 1 1 272 0 0 266 1 0 Loans collateralized by securities 68 0 0 73 0 0 98 0 0 Consumer finance 173 0 0 174 1 0 177 1 1 Consumer 500 1 1 519 1 0 541 2 1 Real estate 75 1 1 67 0 0 94 0 0 Commercial and industrial loans 834 5 0 833 4 1 949 2 0 Financial institutions 94 0 0 88 1 0 47 0 0 Corporate & institutional 1,003 6 1 988 5 1 1,090 2 0 Gross impaired loans with a specific allowance 1,503 7 2 1,507 6 1 1,631 4 1 Mortgages 138 1 0 152 1 0 109 1 0 Consumer finance 4 0 0 3 0 0 2 0 0 Consumer 142 1 0 155 1 0 111 1 0 Real estate 43 0 0 42 0 0 3 1 0 Commercial and industrial loans 377 2 0 472 3 1 277 2 0 Financial institutions 9 0 0 8 0 0 0 0 0 Corporate & institutional 429 2 0 522 3 1 280 3 0 Gross impaired loans without specific allowance 571 3 0 677 4 1 391 4 0 Gross impaired loans 2,074 10 2 2,184 10 2 2,022 8 1 of which consumer 642 2 1 674 2 0 652 3 1 of which corporate & institutional 1,432 8 1 1,510 8 2 1,370 5 0 Gross impaired loan detail (continued) 6M19 6M18 Interest Interest CHF million Mortgages 264 1 1 260 1 0 Loans collateralized by securities 70 0 0 101 1 1 Consumer finance 173 1 0 177 1 1 Consumer 507 2 1 538 3 2 Real estate 71 1 1 90 0 0 Commercial and industrial loans 832 9 1 928 9 4 Financial institutions 91 1 0 46 0 0 Governments and public institutions 0 0 0 1 0 0 Corporate & institutional 994 11 2 1,065 9 4 Gross impaired loans with a specific allowance 1,501 13 3 1,603 12 6 Mortgages 143 2 0 97 2 0 Consumer finance 4 0 0 3 0 0 Consumer 147 2 0 100 2 0 Real estate 42 0 0 3 1 0 Commercial and industrial loans 424 5 1 300 5 0 Financial institutions 8 0 0 0 0 0 Corporate & institutional 474 5 1 303 6 0 Gross impaired loans without specific allowance 621 7 1 403 8 0 Gross impaired loans 2,122 20 4 2,006 20 6 of which consumer 654 4 1 638 5 2 of which corporate & institutional 1,468 16 3 1,368 15 4 Restructured loans held at amortized cost 2Q19 1Q19 2Q18 Recorded Recorded Recorded Recorded Recorded Recorded CHF million, except where indicated Mortgages 0 0 0 1 7 7 5 29 29 Commercial and industrial loans 6 14 14 0 0 0 0 0 0 Total 6 14 14 1 7 7 5 29 29 6M19 6M18 Recorded Recorded Recorded Recorded CHF million, except where indicated Mortgages 1 7 7 5 29 29 Commercial and industrial loans 6 14 14 3 15 14 Total 7 21 21 8 44 43 Restructured loans held at amortized cost that defaulted within 12 months from restructuring 2Q19 1Q19 2Q18 Number of Recorded Number of Recorded Number of Recorded CHF million, except where indicated Mortgages 0 0 1 13 0 0 Commercial and industrial loans 0 0 0 0 1 36 Total 0 0 1 13 1 36 6M19 6M18 Number of Recorded Number of Recorded CHF million, except where indicated Mortgages 1 13 0 0 Commercial and industrial loans 0 0 8 76 Total 1 13 8 76 In 6M19, the loan modifications of the Group included interest rate concessions and extended loan repayment terms including the suspension of amortizations. |
Bank | |
Loans, allowance for loan losses and credit quality | 17 Loans, allowance for loan losses and credit quality > Refer to “Note 18 – Loans, allowance for loan losses and credit quality” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2018 for further information. Loans end of 6M19 2018 Loans (CHF million) Mortgages 108,919 107,845 Loans collateralized by securities 44,317 42,034 Consumer finance 4,965 3,905 Consumer 158,201 153,784 Real estate 27,857 26,727 Commercial and industrial loans 88,274 86,165 Financial institutions 22,873 23,320 Governments and public institutions 4,066 3,893 Corporate & institutional 143,070 140,105 Gross loans 301,271 293,889 of which held at amortized cost 288,434 279,016 of which held at fair value 12,837 14,873 Net (unearned income)/deferred expenses (109) (113) Allowance for loan losses (881) (901) Net loans 300,281 292,875 Gross loans by location Switzerland 169,068 165,184 Foreign 132,203 128,705 Gross loans 301,271 293,889 Impaired loans Non-performing loans 1,183 1,203 Non-interest-earning loans 298 288 Total non-performing and non-interest-earning loans 1,481 1,491 Restructured loans 274 299 Potential problem loans 268 390 Total other impaired loans 542 689 Gross impaired loans 2,023 2,180 Allowance for loan losses by loan portfolio 6M19 6M18 Corporate Corporate Allowance for loan losses (CHF million) Balance at beginning of period 187 714 901 220 661 881 Net movements recognized in statements of operations 22 68 90 20 76 96 Gross write-offs (48) (93) (141) (39) (81) (120) Recoveries 3 12 15 5 21 26 Net write-offs (45) (81) (126) (34) (60) (94) Provisions for interest 5 16 21 6 9 15 Foreign currency translation impact and other adjustments, net 2 (7) (5) 1 5 6 Balance at end of period 171 710 881 213 691 904 of which individually evaluated for impairment 130 445 575 172 473 645 of which collectively evaluated for impairment 41 265 306 41 218 259 Gross loans held at amortized cost (CHF million) Balance at end of period 158,176 130,258 288,434 155,258 123,228 278,486 of which individually evaluated for impairment 1 648 1,375 2,023 633 1,457 2,090 of which collectively evaluated for impairment 157,528 128,883 286,411 154,625 121,771 276,396 1 Represents gross impaired loans both with and without a specific allowance. Purchases, reclassifications and sales 6M19 6M18 Corporate Corporate 1 Loans held at amortized cost (CHF million) Purchases 2 0 977 977 0 1,034 1,034 Reclassifications from loans held-for-sale 3 0 11 11 0 1 1 Reclassifications to loans held-for-sale 4 0 1,748 1,748 1 1,216 1,217 Sales 4 0 1,606 1,606 1 1,129 1,130 1 Prior period has been corrected. 2 Includes drawdowns under purchased loan commitments. 3 Includes loans previously reclassified to held-for-sale that were not sold and were reclassified back to loans held-to-maturity. 4 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 6M19 (CHF million) Mortgages 98,707 9,844 368 108,919 Loans collateralized by securities 41,092 3,164 61 44,317 Consumer finance 2,252 2,518 170 4,940 Consumer 142,051 15,526 599 158,176 Real estate 19,909 6,898 130 26,937 Commercial and industrial loans 42,665 39,300 1,131 83,096 Financial institutions 16,729 2,125 87 18,941 Governments and public institutions 1,244 40 0 1,284 Corporate & institutional 80,547 48,363 1,348 130,258 Gross loans held at amortized cost 222,598 63,889 1,947 288,434 Value of collateral 1 197,038 49,464 1,411 247,913 2018 (CHF million) Mortgages 97,404 10,046 395 107,845 Loans collateralized by securities 39,281 2,676 77 42,034 Consumer finance 1,465 2,247 170 3,882 Consumer 138,150 14,969 642 153,761 Real estate 19,461 6,494 110 26,065 Commercial and industrial loans 41,352 37,633 1,256 80,241 Financial institutions 15,540 2,138 86 17,764 Governments and public institutions 1,132 53 0 1,185 Corporate & institutional 77,485 46,318 1,452 125,255 Gross loans held at amortized cost 215,635 61,287 2,094 279,016 Value of collateral 1 192,617 47,999 1,444 242,060 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 6M19 (CHF million) Mortgages 108,394 141 80 36 268 525 108,919 Loans collateralized by securities 44,231 13 0 0 73 86 44,317 Consumer finance 4,226 463 47 50 154 714 4,940 Consumer 156,851 617 127 86 495 1,325 158,176 Real estate 26,633 133 40 66 65 304 26,937 Commercial and industrial loans 81,968 360 24 39 705 1,128 83,096 Financial institutions 18,586 264 1 4 86 355 18,941 Governments and public institutions 1,217 66 1 0 0 67 1,284 Corporate & institutional 128,404 823 66 109 856 1,854 130,258 Gross loans held at amortized cost 285,255 1,440 193 195 1,351 3,179 288,434 2018 (CHF million) Mortgages 107,364 155 23 10 293 481 107,845 Loans collateralized by securities 41,936 21 0 0 77 98 42,034 Consumer finance 3,383 286 35 32 146 499 3,882 Consumer 152,683 462 58 42 516 1,078 153,761 Real estate 25,914 63 4 0 84 151 26,065 Commercial and industrial loans 78,919 378 96 82 766 1,322 80,241 Financial institutions 17,593 66 1 19 3 83 1 171 17,764 Governments and public institutions 1,172 13 0 0 0 13 1,185 Corporate & institutional 123,598 520 119 85 933 1,657 125,255 Gross loans held at amortized cost 276,281 982 177 127 1,449 2,735 279,016 1 Prior period has been corrected. Gross impaired loans by category Non-performing and Non- 6M19 (CHF million) Mortgages 318 14 332 26 38 64 396 1 Loans collateralized by securities 61 13 74 0 0 0 74 Consumer finance 171 6 177 0 1 1 178 Consumer 550 33 583 26 39 65 648 Real estate 86 4 90 0 44 44 134 Commercial and industrial loans 503 219 722 248 183 431 1,153 Financial institutions 44 42 86 0 2 2 88 Corporate & institutional 633 265 898 248 229 477 1,375 Gross impaired loans 1,183 298 1,481 274 268 542 2,023 2018 (CHF million) Mortgages 304 12 316 34 72 106 422 1 Loans collateralized by securities 62 13 75 0 3 3 78 Consumer finance 170 6 176 0 1 1 177 Consumer 536 31 567 34 76 110 677 Real estate 80 4 84 0 38 38 122 Commercial and industrial loans 547 211 758 265 272 537 1,295 Financial institutions 40 42 82 0 4 4 86 Corporate & institutional 667 257 924 265 314 579 1,503 Gross impaired loans 1,203 288 1,491 299 390 689 2,180 1 As of the end of 6M19 and 2018, CHF 136 million and CHF 123 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 6M19 2018 Unpaid Associated Unpaid Associated CHF million Mortgages 313 297 22 278 262 21 Loans collateralized by securities 74 63 18 77 63 35 Consumer finance 175 153 90 174 154 90 Consumer 562 513 130 529 479 146 Real estate 87 79 10 82 73 10 Commercial and industrial loans 774 745 365 761 730 400 Financial institutions 87 82 70 86 84 51 Corporate & institutional 948 906 445 929 887 461 Gross impaired loans with a specific allowance 1,510 1,419 575 1,458 1,366 607 Mortgages 83 83 – 144 144 – Loans collateralized by securities 0 0 – 1 1 – Consumer finance 3 3 – 3 3 – Consumer 86 86 – 148 148 – Real estate 47 47 – 40 40 – Commercial and industrial loans 379 379 – 534 534 – Financial institutions 1 1 – 0 0 – Corporate & institutional 427 427 – 574 574 – Gross impaired loans without specific allowance 513 513 – 722 722 – Gross impaired loans 2,023 1,932 575 2,180 2,088 607 of which consumer 648 599 130 677 627 146 of which corporate & institutional 1,375 1,333 445 1,503 1,461 461 Gross impaired loan detail (continued) 6M19 6M18 Interest Interest CHF million Mortgages 264 1 1 260 1 0 Loans collateralized by securities 70 0 0 101 1 1 Consumer finance 173 1 0 177 1 1 Consumer 507 2 1 538 3 2 Real estate 71 1 1 90 0 0 Commercial and industrial loans 820 9 1 915 9 4 Financial institutions 91 1 0 46 0 0 Governments and public institutions 0 0 0 1 0 0 Corporate & institutional 982 11 2 1,052 9 4 Gross impaired loans with a specific allowance 1,489 13 3 1,590 12 6 Mortgages 143 2 0 97 2 0 Consumer finance 4 0 0 3 0 0 Consumer 147 2 0 100 2 0 Real estate 42 0 0 3 1 0 Commercial and industrial loans 424 5 1 300 5 0 Financial institutions 8 0 0 0 0 0 Corporate & institutional 474 5 1 303 6 0 Gross impaired loans without specific allowance 621 7 1 403 8 0 Gross impaired loans 2,110 20 4 1,993 20 6 of which consumer 654 4 1 638 5 2 of which corporate & institutional 1,456 16 3 1,355 15 4 Restructured loans held at amortized cost 6M19 6M18 Recorded Recorded Recorded Recorded CHF million, except where indicated Mortgages 1 7 7 5 29 29 Commercial and industrial loans 6 14 14 3 15 14 Total 7 21 21 8 44 43 Restructured loans held at amortized cost that defaulted within 12 months from restructuring 6M19 6M18 Number of Recorded Number of Recorded CHF million, except where indicated Mortgages 1 13 0 0 Commercial and industrial loans 0 0 8 76 Total 1 13 8 76 In 6M19, the loan modifications of the Bank included interest rate concessions and extended loan repayment terms including the suspension of amortizations. |
Goodwill
Goodwill | 6 Months Ended |
Jun. 30, 2019 | |
Goodwill | 19 Goodwill Investment 1 Gross amount of goodwill (CHF million) Balance at beginning of period 619 1,560 2,290 3,186 1,031 8,698 Foreign currency translation impact (7) (30) (22) (7) (10) (76) Balance at end of period 612 1,530 2,268 3,179 1,021 8,622 Accumulated impairment (CHF million) Balance at beginning of period 0 0 772 2,719 388 3,891 Balance at end of period 0 0 772 2,719 388 3,891 Net book value (CHF million) Net book value 612 1,530 1,496 460 633 4,731 6M19 Gross amount of goodwill (CHF million) Balance at beginning of period 615 1,544 2,278 3,182 1,026 8,657 Foreign currency translation impact (3) (14) (10) (3) (5) (35) Balance at end of period 612 1,530 2,268 3,179 1,021 8,622 Accumulated impairment (CHF million) Balance at beginning of period 0 0 772 2,719 388 3,891 Balance at end of period 0 0 772 2,719 388 3,891 Net book value (CHF million) Net book value 612 1,530 1,496 460 633 4,731 1 Gross amounts include goodwill of CHF 12 million related to legacy business transferred to the former Strategic Resolution Unit in 4Q15 and fully written off at the time of transfer, in addition to the divisions disclosed. 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 2Q19 that a goodwill triggering event occurred for the Asia Pacific – Markets, Global Markets and Investment Banking & Capital Markets reporting units. Based on its goodwill impairment analysis performed as of June 30, 2019, 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, 2019. 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 were determined from the Group’s financial plan. In determining the estimated fair value, the Group relied upon its latest five-year strategic business plan which included significant management assumptions and estimates based on its view of current and future economic conditions and regulatory changes, and as approved by the Board of Directors. 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 1 Gross amount of goodwill (CHF million) Balance at beginning of period 597 1,531 2,053 2,838 916 7,947 Foreign currency translation impact (3) (13) (10) (1) (4) (31) Balance at end of period 594 1,518 2,043 2,837 912 7,916 Accumulated impairment (CHF million) Balance at beginning of period 0 0 772 2,719 388 3,891 Balance at end of period 0 0 772 2,719 388 3,891 Net book value (CHF million) Net book value 594 1,518 1,271 118 524 4,025 1 Gross amounts include goodwill of CHF 12 million related to legacy business transferred to the former Strategic Resolution Unit in 4Q15 and fully written off at the time of transfer, in addition to the divisions disclosed. > Refer to “Note 19 – Goodwill” in III – Condensed consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q19 for further information. |
Other assets and other liabilit
Other assets and other liabilities | 6 Months Ended |
Jun. 30, 2019 | |
Other assets and other liabilities | 20 Other assets and other liabilities end of 2Q19 1Q19 4Q18 Other assets (CHF million) Cash collateral on derivative instruments 5,692 5,358 7,057 Cash collateral on non-derivative transactions 414 392 465 Derivative instruments used for hedging 99 86 33 Assets held-for-sale 7,005 8,371 6,744 of which loans 1 6,929 8,285 6,630 of which real estate 2 45 54 54 of which long-lived assets 31 32 60 Premises, equipment and right-of-use assets 3 7,737 8,079 4,838 Assets held for separate accounts 119 123 125 Interest and fees receivable 5,240 5,330 5,055 Deferred tax assets 4,787 4,920 4,943 Prepaid expenses 445 485 613 of which cloud computing arrangement implementation costs 9 3 – Failed purchases 1,271 1,400 1,283 Defined benefit pension and post-retirement plan assets 2,880 1,973 1,794 Other 3,890 3,984 4,509 Other assets 39,579 40,501 37,459 Other liabilities (CHF million) Cash collateral on derivative instruments 7,048 6,867 6,903 Cash collateral on non-derivative transactions 120 145 514 Derivative instruments used for hedging 11 0 8 Operating leases liabilities 3,143 3,468 – Provisions 871 1,026 928 of which off-balance sheet risk 153 155 151 Restructuring liabilities – – 346 Liabilities held for separate accounts 119 123 125 Interest and fees payable 5,545 5,126 5,159 Current tax liabilities 1,130 926 927 Deferred tax liabilities 644 456 438 Failed sales 731 735 2,187 Defined benefit pension and post-retirement plan liabilities 510 518 518 Other 10,086 10,003 12,054 Other liabilities 29,958 29,393 30,107 1 Included as of the end of 2Q19, 1Q19 and 4Q18 were CHF 717 million, CHF 705 million and CHF 687 million, respectively, in restricted loans, which represented collateral on secured borrowings. 2 As of the end of 2Q19, 1Q19 and 4Q18, real estate held-for-sale included foreclosed or repossessed real estate of CHF 11 million, CHF 13 million and CHF 13 million, respectively, of which CHF 8 million, CHF 10 million and CHF 10 million, respectively were related to residential real estate. 3 Premises and equipment were previously presented separately in the consolidated balance sheet. Premises, equipment and right-of-use assets end of 2Q19 1Q19 4Q18 Premises and equipment (CHF million) Buildings and improvements 1,582 1,601 1,617 Land 335 344 347 Leasehold improvements 1,852 1,910 1,880 Software 6,260 6,115 5,909 Equipment 1,805 1,846 1,805 Premises and equipment 11,834 11,816 11,558 Accumulated depreciation (7,056) (6,948) (6,720) Total premises and equipment, net 4,778 4,868 4,838 Right-of-use assets (CHF million) Operating leases 2,959 3,211 – Right-of-use assets 2,959 3,211 – Total premises, equipment and right-of-use assets 7,737 8,079 4,838 |
Bank | |
Other assets and other liabilities | 19 Other assets and other liabilities end of 6M19 2018 Other assets (CHF million) Cash collateral on derivative instruments 5,693 7,057 Cash collateral on non-derivative transactions 414 465 Derivative instruments used for hedging 99 33 Assets held-for-sale 7,005 6,744 of which loans 1 6,929 6,630 of which real estate 2 45 54 of which long-lived assets 31 60 Premises, equipment and right-of-use assets 3 6,586 4,530 Assets held for separate accounts 119 125 Interest and fees receivable 5,920 5,506 Deferred tax assets 4,725 4,887 Prepaid expenses 373 560 of which cloud computing arrangement implementation costs 8 – Failed purchases 1,271 1,283 Defined benefit pension and post-retirement plan assets 999 1,001 Other 3,889 4,482 Other assets 37,093 36,673 Other liabilities (CHF million) Cash collateral on derivative instruments 7,048 6,903 Cash collateral on non-derivative transactions 120 514 Derivative instruments used for hedging 11 8 Operating leases liabilities 2,311 – Provisions 863 920 of which off-balance sheet risk 153 151 Restructuring liabilities – 342 Liabilities held for separate accounts 119 125 Interest and fees payable 6,138 5,521 Current tax liabilities 1,120 907 Deferred tax liabilities 246 268 Failed sales 731 2,187 Defined benefit pension and post-retirement plan liabilities 510 518 Other 10,184 12,114 Other liabilities 29,401 30,327 1 Included as of the end of 6M19 and 2018 were CHF 717 million and CHF 687 million, respectively, in restricted loans, which represented collateral on secured borrowings. 2 As of the end of 6M19 and 2018, real estate held-for-sale included foreclosed or repossessed real estate of CHF 11 million and CHF 13 million, respectively, of which CHF 8 million and CHF 10 million, respectively, were related to residential real estate. 3 Premises and equipment were previously presented separately in the consolidated balance sheet. Premises, equipment and right-of-use assets end of 6M19 2018 Premises and equipment (CHF million) Buildings and improvements 1,560 1,595 Land 335 347 Leasehold improvements 1,711 1,752 Software 6,022 5,715 Equipment 1,114 1,136 Premises and equipment 10,742 10,545 Accumulated depreciation (6,313) (6,015) Total premises and equipment, net 4,429 4,530 Right-of-use assets (CHF million) Operating leases 2,157 – Right-of-use assets 2,157 – Total premises, equipment and right-of-use assets 6,586 4,530 |
Leases
Leases | 6 Months Ended |
Jun. 30, 2019 | |
Leases of Lessee Disclosure [Text Block] | 21 Leases The Group enters into both lessee and lessor arrangements. A lease is identified when a contract (or a part of a contract) exists that conveys the right to control the use of an identified asset for a period of time in exchange for consideration. In determining whether a contract contains a lease, the Group has assessed whether there is an identifiable asset and whether it has the right to control the use of the identified asset. > Refer to “Note 2 – Recently issued accounting standards” for further information. Lessee arrangements The Group recognizes lease liabilities, which are reported as other liabilities or long-term debt, and right-of-use (ROU) assets, which are reported as other assets. Lease liabilities represent an obligation to make lease payments under the lease contract while ROU assets represent the right to use an underlying asset for the lease term. Lease liabilities and ROU assets are recognized at the lease commencement date based on the present value of future lease payments over the lease term. > Refer to “Note 20 – Other assets and other liabilities” and “Note 22 – Long-term debt”. The Group enters into leases with fixed or variable lease payments, or with lease payments that depend on an index or a referenced rate. Lease payments at lease commencement which depend on an index or a referenced rate are considered to be unavoidable and are therefore included in the lease liabilities. Other variable lease payments, as well as subsequent changes in an index or referenced rate, are excluded from the lease liabilities. The Group’s incremental borrowing rate, which is used in determining the present value of lease payments, is derived from information available at the lease commencement date. The incremental borrowing rate used for leases is a comparable rate that the Group would expect to pay if it were borrowing from a third party. The Group primarily enters into operating leases. Operating leases result in a single lease cost, calculated such that the cost of the lease is allocated over the remaining lease term on a straight-line basis. For all leases other than real estate leases, the Group does not separate lease and non-lease components. Operating lease expenses are recognized in general and administrative expenses. The Group’s finance leases are not material. For certain leases, there are options that permit the Group to extend or terminate these leases. Such options are only included in the measurement of ROU assets and lease liabilities when it is reasonably certain that the Group would exercise the extension option or would not exercise the termination option. The Group has entered into real estate and equipment leases as well as leases relating to a portfolio of residential solar panels, which are subsequently subleased. Certain real estate leases include restrictions, for example, conditions relating to naming rights or signage. Lease costs in 2Q19 1Q19 6M19 Lease costs (CHF million) Operating lease costs 94 114 208 Variable lease costs 10 2 12 Sublease income (18) (18) (36) Total lease costs 86 98 184 From time to time, the Group enters into sale-leaseback transactions in which an asset is sold and immediately leased back. If specific criteria are met, the asset is derecognized from the balance sheet and an operating lease is recognized. During 2Q19, the Group entered into two sale-leaseback transactions in respect of own property, with terms of 10 and 13 years, respectively. Other information pertaining to leases in 2Q19 1Q19 6M19 Other information (CHF million) Gains/(losses) on sale and leaseback transactions 75 30 105 Cash paid for amounts included in the measurement of operating lease liabilities recorded in operating cash flows (105) (141) (246) Right-of-use assets obtained in exchange of new operating lease liabilities 1 56 13 69 Changes to right-of-use assets due to lease modifications for operating leases (14) (1) (15) 1 Includes right-of-use assets relating to changes in classification of scope of variable interest entities. The weighted average remaining lease terms and discount rates are based on all outstanding operating leases as well as their respective lease terms and remaining lease obligations. Weighted average remaining lease term and discount rate end of 2Q19 Operating leases Remaining lease term (years) 12.70 Discount rate (%) 2.98 The following table reflects the undiscounted cash flows from leases for the next five years and thereafter, based on the expected lease term. Maturity of operating lease liabilities end of 2Q19 Maturity (CHF million) Due within 1 year 482 Due between 1 and 2 years 419 Due between 2 and 3 years 346 Due between 3 and 4 years 316 Due between 4 and 5 years 281 Thereafter 1,944 Total 3,788 Future interest payable (645) Lease liabilities 3,143 Maturity of operating lease commitments end of 4Q18 Maturity (CHF million) 2019 503 2020 484 2021 381 2022 354 2023 320 Thereafter 2,209 Future operating lease commitments 4,251 Less minimum non-cancellable sublease rentals (190) Total net future minimum lease commitments 4,061 Upon adoption of ASU 2016-02 and its subsequent amendments on January 1, 2019, the Group revised the future operating lease commitments to reflect the expected term of the leases. Previously, the operating lease commitments were based on the minimum contractual term of the lease. Lessor arrangements The Group de-recognizes the underlying assets and recognizes net investments in the leases of sales-type and direct financing leases, which are classified as loans. Subsequently, unearned income is amortized to interest income over the lease term using the effective interest method. For operating leases, the Group continues to recognize the underlying asset and depreciates the asset over its estimated useful life. Lease income is recognized in other income on a straight-line basis over the lease term. Consideration in a contract is allocated to each separate lease component and each non-lease component on a relative basis in proportion to the stand-alone selling price. The stand-alone selling price is the price at which a customer would purchase the component separately. The Group enters into sales-type, direct financing and operating leases for real estate and equipment as well as solar equipment. The net investment in the lease is calculated as the lease receivable plus the unguaranteed portion of the estimated residual value. The lease receivable is initially measured at the present value of the sum of the future lease payments receivable over the lease term and any portion of the estimated residual value at the end of the lease term that is guaranteed by either the lessee or an unrelated third party. The Group initially measures the unguaranteed residual value of the asset as the present value of the amount the lessor expects to derive from the underlying asset following the end of the lease term that is not guaranteed by the lessee or any other third party unrelated to the lessor. The discount rate used is the rate implicit in the lease. > Refer to “Note 18 – Loans, allowance for loan losses and credit quality” for further information on impaired loans. As of 2Q19, the Group had approximately CHF 0.8 billion in residual value guarantees associated with leases. Lease payments are recorded when due and payable by the lessee. Lease income in 2Q19 1Q19 6M19 Lease income (CHF million) Interest income on sales-type lease receivables 1 1 2 Interest income on direct financing lease receivables 26 27 53 Lease income from operating leases 18 18 36 Variable lease income 2 1 3 Total lease income 47 47 94 The Group elected the practical expedient to not evaluate whether certain sales taxes and other similar taxes are lessor cost or lessee cost and excludes these costs from being reported as lease income with an associated expense. The Group enters into leases with fixed or variable lease payments, or with lease payments that depend on an index or a referenced rate which are included in the net investment in the lease at lease commencement, as such payments are considered unavoidable. Other variable lease payments, as well as subsequent changes in an index or referenced rate, are excluded from the net investment in the lease. For certain leases, there are options that permit the lessee to extend or renew these leases. Such options are only included in the measurement of lease receivables for sales-type and direct financing leases when it is reasonably certain that the lessee would exercise these options. Certain leases include i) termination options that allow lessees to terminate the leases within three months of the commencement date, with a notice period of 30 days; ii) termination options that allow the Group to terminate the lease but do not provide the lessee with the same option; and iii) termination penalties, options to prepay the payments for the remaining lease term or options that permit the lessee to purchase the leased asset at market value or at the greater of market value and the net present value of the remaining payments. The Group may enter into vehicle leases as a lessor with members of the Board of Directors or the Executive Board. The terms of any such leases are similar to those with third parties. Net investment in leases Sales- Direct Net investment (CHF million) Lease receivables 169 3,414 Impairment recognized (1) (21) Total net investment 168 3,393 Maturities relating to lessor arrangements Sales- Direct Maturity (CHF million) Due within 1 year 75 1,323 38 Due between 1 and 2 years 44 908 28 Due between 2 and 3 years 31 727 25 Due between 3 and 4 years 21 531 24 Due between 4 and 5 years 10 193 23 Thereafter 11 269 75 Total 192 3,951 213 Future interest receivable (23) (537) – Lease receivables 169 3,414 – |
Bank | |
Leases of Lessee Disclosure [Text Block] | 20 Leases > Refer to “Note 21 – Leases” in III – Condensed consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q19 for further information. Lessee arrangements Lease costs in 6M19 Lease costs (CHF million) Operating lease costs 174 Variable lease costs 11 Sublease income (44) Total lease costs 141 Other information pertaining to leases in 6M19 Other information (CHF million) Gains/(losses) on sale and leaseback transactions 105 Cash paid for amounts included in the measurement of operating lease liabilities recorded in operating cash flows (212) Right-of-use assets obtained in exchange of new operating lease liabilities 1 68 Changes to right-of-use assets due to lease modifications for operating leases (15) 1 Includes right-of-use assets relating to changes in classification of scope of variable interest entities. Weighted average remaining lease term and discount rate end of 6M19 Operating leases Remaining lease term (years) 11.18 Discount rate (%) 3.21 Maturity of operating lease liabilities end of 6M19 Maturity (CHF million) Due within 1 year 415 Due between 1 and 2 years 353 Due between 2 and 3 years 281 Due between 3 and 4 years 251 Due between 4 and 5 years 221 Thereafter 1,270 Total 2,791 Future interest payable (480) Lease liabilities 2,311 Maturity of operating lease commitments end of 4Q18 Maturity (CHF million) 2019 435 2020 416 2021 314 2022 286 2023 256 Thereafter 1,479 Future operating lease commitments 3,186 Less minimum non-cancellable sublease rentals (436) Total net future minimum lease commitments 2,750 Lessor arrangements Lease income in 6M19 Lease income (CHF million) Interest income on sales-type lease receivables 2 Interest income on direct financing lease receivables 53 Lease income from operating leases 44 Variable lease income 3 Total lease income 102 Net investment in leases Sales- Direct Net investment (CHF million) Lease receivables 169 3,414 Impairment recognized (1) (21) Total net investment 168 3,393 Maturities relating to lessor arrangements Sales- Direct Maturity (CHF million) Due within 1 year 75 1,323 50 Due between 1 and 2 years 44 908 40 Due between 2 and 3 years 31 727 37 Due between 3 and 4 years 21 531 36 Due between 4 and 5 years 10 193 36 Thereafter 11 269 203 Total 192 3,951 402 Future interest receivable (23) (537) – Lease receivables 169 3,414 – |
Long-term debt
Long-term debt | 6 Months Ended |
Jun. 30, 2019 | |
Long-term debt | 22 Long-term debt Long-term debt end of 2Q19 1Q19 4Q18 Long-term debt (CHF million) Senior 138,349 141,334 136,392 Subordinated 17,535 16,811 16,152 Non-recourse liabilities from consolidated VIEs 2,071 2,116 1,764 Long-term debt 157,955 160,261 154,308 of which reported at fair value 71,648 69,411 63,935 of which structured notes 51,145 51,735 48,064 Structured notes by product end of 2Q19 1Q19 4Q18 Structured notes by product (CHF million) Equity 32,149 33,076 30,698 Fixed income 14,893 14,436 13,128 Credit 3,695 3,848 3,898 Other 408 375 340 Total structured notes 51,145 51,735 48,064 |
Bank | |
Long-term debt | 21 Long-term debt Long-term debt end of 6M19 2018 Long-term debt (CHF million) Senior 138,421 136,445 Subordinated 16,526 15,224 Non-recourse liabilities from consolidated VIEs 2,071 1,764 Long-term debt 157,018 153,433 of which reported at fair value 70,703 63,027 of which structured notes 51,145 48,064 Structured notes by product end of 6M19 2018 Structured notes by product (CHF million) Equity 32,149 30,698 Fixed income 14,893 13,128 Credit 3,695 3,898 Other 408 340 Total structured notes 51,145 48,064 |
Accumulated other comprehensive
Accumulated other comprehensive income | 6 Months Ended |
Jun. 30, 2019 | |
Accumulated other comprehensive income | 23 Accumulated other comprehensive income and additional share information Accumulated other comprehensive income/(loss) Gains/ 2Q19 (CHF million) Balance at beginning of period (26) (13,245) 24 (3,956) 363 (2,033) (18,873) Increase/(decrease) 45 (589) 12 323 338 (312) (183) Increase/(decrease) due to equity method investments (3) 0 0 0 0 0 (3) Reclassification adjustments, included in net income/(loss) 1 0 0 63 (32) 81 113 Total increase/(decrease) 43 (589) 12 386 306 (231) (73) Balance at end of period 17 (13,834) 36 (3,570) 669 (2,264) (18,946) 1Q19 (CHF million) Balance at beginning of period (72) (13,442) 10 (3,974) 387 (890) (17,981) Increase/(decrease) 47 195 14 0 0 (1,151) (895) Increase/(decrease) due to equity method investments (4) 0 0 0 0 0 (4) Reclassification adjustments, included in net income/(loss) 3 2 0 60 (24) 30 71 Cumulative effect of accounting changes, net of tax 1 0 0 0 (42) 0 (22) (64) Total increase/(decrease) 46 197 14 18 (24) (1,143) (892) Balance at end of period (26) (13,245) 24 (3,956) 363 (2,033) (18,873) 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) 6M19 (CHF million) Balance at beginning of period (72) (13,442) 10 (3,974) 387 (890) (17,981) Increase/(decrease) 92 (394) 26 323 338 (1,463) (1,078) Increase/(decrease) due to equity method investments (7) 0 0 0 0 0 (7) Reclassification adjustments, included in net income/(loss) 4 2 0 123 (56) 111 184 Cumulative effect of accounting changes, net of tax 1 0 0 0 (42) 0 (22) (64) Total increase/(decrease) 89 (392) 26 404 282 (1,374) (965) Balance at end of period 17 (13,834) 36 (3,570) 669 (2,264) (18,946) 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) 1 Reflects the reclassification from AOCI to retained earnings as a result of the adoption of ASU 2018-02. Refer to "Note 2 - Recently issued accounting standards" for further information. Details on significant reclassification adjustments in 2Q19 1Q19 2Q18 6M19 6M18 Reclassification adjustments, included in net income/(loss) (CHF million) Cumulative translation adjustments Reclassification adjustments 0 2 (2) 2 (2) Actuarial gains/(losses) Amortization of recognized actuarial losses 1 80 76 90 156 178 Tax expense/(benefit) (17) (16) (18) (33) (36) Net of tax 63 60 72 123 142 Net prior service credit/(cost) Amortization of recognized prior service credit/(cost) 1 (41) (30) (37) (71) (76) Tax expense 9 6 8 15 16 Net of tax (32) (24) (29) (56) (60) 1 These components are included in the computation of total benefit costs. Refer to "Note 27 – Pension and other post-retirement benefits" for further information. Additional share information 2Q19 1Q19 2Q18 6M19 6M18 Common shares issued Balance at beginning of period 2,556,011,720 2,556,011,720 2,556,011,720 2,556,011,720 2,556,011,720 Balance at end of period 2,556,011,720 2,556,011,720 2,556,011,720 2,556,011,720 2,556,011,720 Treasury shares Balance at beginning of period (48,217,358) (5,427,691) (16,413,030) (5,427,691) (5,757,666) Sale of treasury shares 153,739,570 238,506,125 173,383,973 392,245,695 371,216,190 Repurchase of treasury shares (190,464,698) (282,969,737) (205,279,026) (473,434,435) (415,339,165) Share-based compensation 36,705,356 1,673,945 42,340,132 38,379,301 43,912,690 Balance at end of period (48,237,130) (48,217,358) (5,967,951) (48,237,130) (5,967,951) Common shares outstanding Balance at end of period 2,507,774,590 1 2,507,794,362 1 2,550,043,769 2 2,507,774,590 1 2,550,043,769 2 1 At par value CHF 0.04 each, fully paid. In addition to the treasury shares, a maximum of 653,000,000 unissued shares (conditional, conversion and authorized capital) were available for issuance without further approval of the shareholders. 111,193,477 of these shares were reserved for capital instruments. 2 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 | 22 Accumulated other comprehensive income Accumulated other comprehensive income/(loss) Unrealized Gains/ 6M19 (CHF million) Balance at beginning of period (58) (13,573) 9 (350) (8) (860) (14,840) Increase/(decrease) 93 (384) 27 0 0 (1,349) (1,613) Reclassification adjustments, included in net income/(loss) 0 0 0 8 0 111 119 Cumulative effect of accounting changes, net of tax 1 0 0 0 (42) 0 (22) (64) Total increase/(decrease) 93 (384) 27 (34) 0 (1,260) (1,558) Balance at end of period 35 (13,957) 36 (384) (8) (2,120) (16,398) 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) 1 Reflects the reclassification from AOCI to retained earnings as a result of the adoption of ASU 2018-02. Refer to "Note 2 - Recently issued accounting standards" for further information. Details on significant reclassification adjustments in 6M19 6M18 Reclassification adjustments, included in net income/(loss) (CHF million) Cumulative translation adjustments Reclassification adjustments 0 (2) Actuarial gains/(losses) Amortization of recognized actuarial losses 1 10 26 Tax expense/(benefit) (2) (4) Net of tax 8 22 1 These components are included in the computation of total benefit costs. Refer to "Note 26 – Pension and other post-retirement benefits" for further information. |
Offsetting of financial assets
Offsetting of financial assets and financial liabilities | 6 Months Ended |
Jun. 30, 2019 | |
Offsetting of financial assets and financial liabilities | 24 Offsetting of financial assets and financial liabilities The disclosures set out in the tables below include derivatives, reverse repurchase and repurchase agreements, and securities lending and borrowing transactions that: ■ ■ Similar agreements include derivative clearing agreements, global master repurchase agreements and global master securities lending agreements. Derivatives The Group transacts bilateral over-the-counter (OTC) derivatives (OTC derivatives) mainly under International Swaps and Derivatives Association (ISDA) Master Agreements and Swiss Master Agreements for OTC derivative instruments. These agreements provide for the net settlement of all transactions under the agreement through a single payment in the event of default or termination under the agreement. They allow the Group to offset balances from derivative assets and liabilities as well as the receivables and payables to related cash collateral transacted with the same counterparty. Collateral for OTC derivatives is received and provided in the form of cash and marketable securities. Such collateral may be subject to the standard industry terms of an ISDA Credit Support Annex. The terms of an ISDA Credit Support Annex provide that securities received or provided as collateral may be pledged or sold during the term of the transactions and must be returned upon maturity of the transaction. These terms also give each counterparty the right to terminate the related transactions upon the other counterparty’s failure to post collateral. Financial collateral received or pledged for OTC derivatives may also be subject to collateral agreements which restrict the use of financial collateral. For derivatives transacted with exchanges (exchange-traded derivatives) and central clearing counterparties (OTC-cleared derivatives), positive and negative replacement values (PRV/NRV) and related cash collateral may be offset if the terms of the rules and regulations governing these exchanges and central clearing counterparties permit such netting and offset. Where no such agreements or terms exist, fair values are recorded on a gross basis. Exchange-traded derivatives or OTC-cleared derivatives, which are fully margined and for which the daily margin payments constitute settlement of the outstanding exposure, are not included in the offsetting disclosures because they are not subject to offsetting due to the daily settlement. The daily margin payments, which are not settled until the next settlement cycle is conducted, are presented in brokerage receivables or brokerage payables. The notional amount for these daily settled derivatives is included in the fair value of derivative instruments table in “Note 28 – Derivatives and hedging activities”. Under US GAAP, the Group elected to account for substantially all financial instruments with an embedded derivative that is not considered clearly and closely related to the host contract at fair value. There is an exception for certain bifurcatable hybrid debt instruments which the Group did not elect to account for at fair value. However, these bifurcated embedded derivatives are generally not subject to enforceable master netting agreements and are not recorded as derivative instruments under trading assets and liabilities or other assets and other liabilities. Information on bifurcated embedded derivatives has therefore not been included in the offsetting disclosures. The following table presents the gross amount of derivatives subject to enforceable master netting agreements by contract and transaction type, the amount of offsetting, the amount of derivatives not subject to enforceable master netting agreements and the net amount presented in the consolidated balance sheets. Offsetting of derivatives 2Q19 4Q18 Derivative Derivative Derivative Derivative Gross derivatives subject to enforceable master netting agreements (CHF billion) OTC-cleared 5.1 4.2 5.5 4.8 OTC 73.4 68.4 63.4 60.6 Exchange-traded 0.4 0.4 0.2 0.3 Interest rate products 78.9 73.0 69.1 65.7 OTC-cleared 0.2 0.2 0.1 0.2 OTC 22.3 26.8 26.9 31.1 Foreign exchange products 22.5 27.0 27.0 31.3 OTC 10.7 9.2 10.2 10.2 Exchange-traded 11.1 12.3 11.8 14.2 Equity/index-related products 21.8 21.5 22.0 24.4 OTC-cleared 3.4 3.5 1.5 1.6 OTC 3.5 4.7 3.8 4.9 Credit derivatives 6.9 8.2 5.3 6.5 OTC 1.2 0.7 1.2 0.4 Exchange-traded 0.0 0.0 0.1 0.3 Other products 1 1.2 0.7 1.3 0.7 OTC-cleared 8.7 7.9 7.1 6.6 OTC 111.1 109.8 105.5 107.2 Exchange-traded 11.5 12.7 12.1 14.8 Total gross derivatives subject to enforceable master netting agreements 131.3 130.4 124.7 128.6 Offsetting (CHF billion) OTC-cleared (7.2) (6.7) (5.9) (5.8) OTC (97.7) (101.4) (92.6) (99.0) Exchange-traded (11.1) (11.3) (11.6) (12.5) Offsetting (116.0) (119.4) (110.1) (117.3) of which counterparty netting (99.9) (99.9) (96.9) (96.9) of which cash collateral netting (16.1) (19.5) (13.2) (20.4) Net derivatives presented in the consolidated balance sheets (CHF billion) OTC-cleared 1.5 1.2 1.2 0.8 OTC 13.4 8.4 12.9 8.2 Exchange-traded 0.4 1.4 0.5 2.3 Total net derivatives subject to enforceable master netting agreements 15.3 11.0 14.6 11.3 Total derivatives not subject to enforceable master netting agreements 2 4.4 3.8 3.7 3.9 Total net derivatives presented in the consolidated balance sheets 19.7 14.8 18.3 15.2 of which recorded in trading assets and trading liabilities 19.6 14.8 18.3 15.2 of which recorded in other assets and other liabilities 0.1 0.0 0.0 0.0 1 Primarily precious metals, commodity and energy products. 2 Represents derivatives where a legal opinion supporting the enforceability of netting in the event of default or termination under the agreement is not in place. Reverse repurchase and repurchase agreements and securities lending and borrowing transactions Reverse repurchase and repurchase agreements are generally covered by global master repurchase agreements. In certain situations, for example, in the event of default, all contracts under the agreements are terminated and are settled net in one single payment. Global master repurchase agreements also include payment or settlement netting provisions in the normal course of business that state that all amounts in the same currency payable by each party to the other under any transaction or otherwise under the global master repurchase agreement on the same date shall be set off. Transactions under such agreements are netted in the consolidated balance sheets if they are with the same counterparty, have the same maturity date, settle through the same clearing institution and are subject to the same enforceable master netting agreement. The amounts offset are measured on the same basis as the underlying transaction (i.e., on an accrual basis or fair value basis). Securities lending and borrowing transactions are generally executed under global master securities lending agreements with netting terms similar to ISDA Master Agreements. In certain situations, for example in the event of default, all contracts under the agreement are terminated and are settled net in one single payment. Transactions under these agreements are netted in the consolidated balance sheets if they meet the same right of offset criteria as for reverse repurchase and repurchase agreements. In general, most securities lending and borrowing transactions do not meet the criterion of having the same settlement date specified at inception of the transaction, and therefore they are not eligible for netting in the consolidated balance sheets. However, securities lending and borrowing transactions with explicit maturity dates may be eligible for netting in the consolidated balance sheets. Reverse repurchase and repurchase agreements are collateralized principally by government securities, money market instruments and corporate bonds and have terms ranging from overnight to a longer or unspecified period of time. In the event of counterparty default, the reverse repurchase agreement or securities lending agreement provides the Group with the right to liquidate the collateral held. As is the case in the Group’s normal course of business, a significant portion of the collateral received that may be sold or repledged was sold or repledged as of the end of 2Q19 and 4Q18. 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 2Q19 4Q18 Net Net Securities purchased under resale agreements and securities borrowing transactions (CHF billion) Securities purchased under resale agreements 83.0 (13.6) 69.4 86.6 (20.9) 65.7 Securities borrowing transactions 15.1 (0.8) 14.3 12.6 (2.2) 10.4 Total subject to enforceable master netting agreements 98.1 (14.4) 83.7 99.2 (23.1) 76.1 Total not subject to enforceable master netting agreements 1 29.8 – 29.8 41.0 – 41.0 Total 127.9 (14.4) 113.5 2 140.2 (23.1) 117.1 2 1 Represents securities purchased under resale agreements and securities borrowing transactions where a legal opinion supporting the enforceability of netting in the event of default or termination under the agreement is not in place. 2 CHF 82,286 million and CHF 81,818 million of the total net amount as of the end of 2Q19 and 4Q18, 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 2Q19 4Q18 Net Net Securities sold under repurchase agreements and securities lending transactions (CHF billion) Securities sold under repurchase agreements 27.7 (14.4) 13.3 42.3 (22.5) 19.8 Securities lending transactions 3.9 0.0 3.9 4.2 (0.6) 3.6 Obligation to return securities received as collateral, at fair value 44.6 0.0 44.6 39.4 0.0 39.4 Total subject to enforceable master netting agreements 76.2 (14.4) 61.8 85.9 (23.1) 62.8 Total not subject to enforceable master netting agreements 1 2.4 – 2.4 3.5 – 3.5 Total 78.6 (14.4) 64.2 89.4 (23.1) 66.3 of which securities sold under repurchase agreements and securities lending transactions 33.2 (14.4) 18.8 2 47.7 (23.1) 24.6 2 of which obligation to return securities received as collateral, at fair value 45.4 0.0 45.4 41.7 0.0 41.7 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 9,195 million and CHF 14,828 million of the total net amount as of the end of 2Q19 and 4Q18, 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 2Q19 4Q18 1 Cash 1 1 Cash 1 Financial assets subject to enforceable master netting agreements (CHF billion) Derivatives 15.3 4.9 0.0 10.4 14.6 4.5 0.1 10.0 Securities purchased under resale agreements 69.4 69.4 0.0 0.0 65.7 65.7 0.0 0.0 Securities borrowing transactions 14.3 13.7 0.0 0.6 10.4 10.0 0.0 0.4 Total financial assets subject to enforceable master netting agreements 99.0 88.0 0.0 11.0 90.7 80.2 0.1 10.4 Financial liabilities subject to enforceable master netting agreements (CHF billion) Derivatives 11.0 1.4 0.0 9.6 11.3 1.4 0.0 9.9 Securities sold under repurchase agreements 13.3 13.3 0.0 0.0 19.8 19.7 0.1 0.0 Securities lending transactions 3.9 3.5 0.0 0.4 3.6 3.2 0.0 0.4 Obligation to return securities received as collateral, at fair value 44.6 37.8 0.0 6.8 39.4 34.3 0.0 5.1 Total financial liabilities subject to enforceable master netting agreements 72.8 56.0 0.0 16.8 74.1 58.6 0.1 15.4 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 | 23 Offsetting of financial assets and financial liabilities > Refer to “Note 24 – Offsetting of financial assets and financial liabilities” in III – Condensed consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q19 for further information. Offsetting of derivatives 6M19 2018 Derivative Derivative Derivative Derivative Gross derivatives subject to enforceable master netting agreements (CHF billion) OTC-cleared 5.1 4.2 5.5 4.8 OTC 73.4 68.4 63.4 60.7 Exchange-traded 0.4 0.4 0.2 0.3 Interest rate products 78.9 73.0 69.1 65.8 OTC-cleared 0.2 0.2 0.1 0.2 OTC 22.3 26.8 26.9 31.2 Foreign exchange products 22.5 27.0 27.0 31.4 OTC 10.7 9.2 10.2 10.3 Exchange-traded 11.1 12.3 11.8 14.2 Equity/index-related products 21.8 21.5 22.0 24.5 OTC-cleared 3.4 3.5 1.5 1.6 OTC 3.5 4.7 3.8 4.9 Credit derivatives 6.9 8.2 5.3 6.5 OTC 1.2 0.7 1.3 0.5 Other products 1 1.2 0.7 1.3 0.5 OTC-cleared 8.7 7.9 7.1 6.6 OTC 111.1 109.8 105.6 107.6 Exchange-traded 11.5 12.7 12.0 14.5 Total gross derivatives subject to enforceable master netting agreements 131.3 130.4 124.7 128.7 Offsetting (CHF billion) OTC-cleared (7.2) (6.7) (6.0) (5.8) OTC (97.7) (101.4) (92.5) (99.1) Exchange-traded (11.1) (11.3) (11.6) (12.5) Offsetting (116.0) (119.4) (110.1) (117.4) of which counterparty netting (99.9) (99.9) (96.9) (96.9) of which cash collateral netting (16.1) (19.5) (13.2) (20.5) Net derivatives presented in the consolidated balance sheets (CHF billion) OTC-cleared 1.5 1.2 1.1 0.8 OTC 13.4 8.4 13.1 8.5 Exchange-traded 0.4 1.4 0.4 2.0 Total net derivatives subject to enforceable master netting agreements 15.3 11.0 14.6 11.3 Total derivatives not subject to enforceable master netting agreements 2 4.4 3.8 3.8 3.9 Total net derivatives presented in the consolidated balance sheets 19.7 14.8 18.4 15.2 of which recorded in trading assets and trading liabilities 19.6 14.8 18.4 15.2 of which recorded in other assets and other liabilities 0.1 0.0 0.0 0.0 1 Primarily precious metals, commodity and energy products. 2 Represents derivatives where a legal opinion supporting the enforceability of netting in the event of default or termination under the agreement is not in place. Offsetting of securities purchased under resale agreements and securities borrowing transactions 6M19 2018 Net Net Securities purchased under resale agreements and securities borrowing transactions (CHF billion) Securities purchased under resale agreements 83.0 (13.6) 69.4 86.6 (20.9) 65.7 Securities borrowing transactions 15.1 (0.8) 14.3 12.6 (2.2) 10.4 Total subject to enforceable master netting agreements 98.1 (14.4) 83.7 99.2 (23.1) 76.1 Total not subject to enforceable master netting agreements 1 29.8 – 29.8 41.0 – 41.0 Total 127.9 (14.4) 113.5 2 140.2 (23.1) 117.1 2 1 Represents securities purchased under resale agreements and securities borrowing transactions where a legal opinion supporting the enforceability of netting in the event of default or termination under the agreement is not in place. 2 CHF 82,286 million and CHF 81,818 million of the total net amount as of the end of 6M19 and 2018, respectively, are reported at fair value. Offsetting of securities sold under repurchase agreements and securities lending transactions 6M19 2018 Net Net Securities sold under repurchase agreements and securities lending transactions (CHF billion) Securities sold under repurchase agreements 27.8 (14.4) 13.4 42.3 (22.5) 19.8 Securities lending transactions 3.9 0.0 3.9 4.2 (0.6) 3.6 Obligation to return securities received as collateral, at fair value 44.6 0.0 44.6 39.4 0.0 39.4 Total subject to enforceable master netting agreements 76.3 (14.4) 61.9 85.9 (23.1) 62.8 Total not subject to enforceable master netting agreements 1 2.4 – 2.4 3.5 – 3.5 Total 78.7 (14.4) 64.3 89.4 (23.1) 66.3 of which securities sold under repurchase agreements and securities lending transactions 33.3 (14.4) 18.9 2 47.7 (23.1) 24.6 2 of which obligation to return securities received as collateral, at fair value 45.4 0.0 45.4 41.7 0.0 41.7 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 9,304 million and CHF 14,828 million of the total net amount as of the end of 6M19 and 2018, respectively, are reported at fair value. Amounts not offset in the consolidated balance sheets 6M19 2018 1 Cash 1 1 Cash 1 Financial assets subject to enforceable master netting agreements (CHF billion) Derivatives 15.3 4.9 0.0 10.4 14.6 4.5 0.1 10.0 Securities purchased under resale agreements 69.4 69.4 0.0 0.0 65.7 65.7 0.0 0.0 Securities borrowing transactions 14.3 13.7 0.0 0.6 10.4 10.0 0.0 0.4 Total financial assets subject to enforceable master netting agreements 99.0 88.0 0.0 11.0 90.7 80.2 0.1 10.4 Financial liabilities subject to enforceable master netting agreements (CHF billion) Derivatives 11.0 1.4 0.0 9.6 11.3 1.4 0.0 9.9 Securities sold under repurchase agreements 13.4 13.4 0.0 0.0 19.8 19.7 0.1 0.0 Securities lending transactions 3.9 3.5 0.0 0.4 3.6 3.2 0.0 0.4 Obligation to return securities received as collateral, at fair value 44.6 37.8 0.0 6.8 39.4 34.3 0.0 5.1 Total financial liabilities subject to enforceable master netting agreements 72.9 56.1 0.0 16.8 74.1 58.6 0.1 15.4 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, 2019 | |
Tax | 25 Tax The 2Q19 income tax expense of CHF 365 million includes the impact of the continuous reassessment of the estimated annual effective tax rate as well as the impact of items that need to be recorded in the specific interim period in which they occur. Further details are outlined in the tax expense reconciliation below. Net deferred tax assets related to 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, 2019, the Group had accumulated undistributed earnings from foreign subsidiaries of CHF 11.9 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 187 million in unrecognized tax benefits within 12 months of the reporting date. The Group remains open to examination from federal, state, provincial or similar local jurisdictions from the following years onward in these major countries: Brazil – 2014; the UK – 2012; Switzerland – 2011; the US – 2010; and the Netherlands – 2006. Effective tax rate in 2Q19 1Q19 2Q18 6M19 6M18 Effective tax rate (%) 28.0 29.5 37.8 28.7 36.1 Tax expense reconciliation in 2Q19 CHF million Income tax expense computed at the Swiss statutory tax rate of 22% 286 Increase/(decrease) in income taxes resulting from Foreign tax rate differential (24) Other non-deductible expenses 61 Changes in deferred tax valuation allowance 8 Lower taxed income (30) (Windfall tax benefits)/shortfall tax charges on share-based compensation 33 Other 31 Income tax expense 365 Foreign tax rate differential 2Q19 included a foreign tax benefit of CHF 24 million mainly driven by losses made in higher tax jurisdictions, such as the UK, partially offset by earnings in higher tax jurisdictions, such as the US. Other non-deductible expenses 2Q19 included the net impact of CHF 54 million relating to non-deductible interest expenses (including a benefit of CHF 60 million from a previously unrecognized tax benefit) and non-deductible bank levy costs. The remaining balance included various smaller items relating to other non-deductible expenses. Changes in deferred tax valuation allowance 2Q19 included the impact of the estimated current year earnings, resulting in a decrease of valuation allowances of CHF 30 million mainly in respect of one of the Group’s operating entities in the UK and an increase of valuation allowances of CHF 38 million mainly in respect of three of the Group’s operating entities in the US, the UK and Switzerland. Lower taxed income 2Q19 primarily included the impacts related to non-taxable dividend income of CHF 17 million and non-taxable life insurance income of CHF 12 million. Other 2Q19 included a tax charge of CHF 36 million relating to the tax impact of transitional adjustments arising on the first adoption of IFRS 9 for own credit movements, CHF 30 million relating to the US base erosion and anti-abuse tax (BEAT), CHF 26 million relating to withholding taxes and CHF 7 million relating to a prior year adjustment and various smaller balances. This was partially offset by CHF 41 million relating to a beneficial earnings mix in one of the Group’s operating entities in Switzerland, CHF 15 million relating to own-credit valuation movements and CHF 12 million relating to the release of previously unrecognized tax benefits. Net deferred tax assets end of 2Q19 1Q19 Net deferred tax assets (CHF million) Deferred tax assets 4,787 4,920 of which net operating losses 1,678 1,614 of which deductible temporary differences 3,109 3,306 Deferred tax liabilities (644) (456) Net deferred tax assets 4,143 4,464 |
Bank | |
Tax | 24 Tax The 6M19 income tax expense of CHF 701 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, 2019, the Bank had accumulated undistributed earnings from foreign subsidiaries of CHF 11.3 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 187 million in unrecognized tax benefits within 12 months of the reporting date. The Bank remains open to examination from federal, state, provincial or similar local jurisdictions from the following years onward in these major countries: Brazil – 2014; the UK – 2012; Switzerland – 2011; the US – 2010; and the Netherlands – 2006. Effective tax rate in 6M19 6M18 Effective tax rate (%) 31.0 33.3 Tax expense reconciliation in 6M19 CHF million Income tax expense computed at the statutory tax rate of 22% 497 Increase/(decrease) in income taxes resulting from Foreign tax rate differential (22) Other non-deductible expenses 146 Changes in deferred tax valuation allowance (24) Lower taxed income (47) (Windfall tax benefits)/shortfall tax charges on share-based compensation 33 Other 118 Income tax expense 701 Foreign tax rate differential 6M19 included a foreign tax benefit of CHF 22 million mainly driven by losses made in higher tax jurisdictions, such as the UK, partially offset by earnings in higher tax jurisdictions, such as the US. Other non-deductible expenses 6M19 included the net impact of CHF 123 million relating to non-deductible interest expenses (including a benefit of CHF 60 million from a previously unrecognized tax benefit) and non-deductible bank levy costs The remaining balance included CHF 13 million relating to a litigation matter and various smaller items relating to other non-deductible expenses. Changes in deferred tax valuation allowance 6M19 included the impact of the estimated current year earnings, resulting in a decrease of valuation allowances of CHF 61 million mainly in respect of one of the Bank’s operating entities in the UK and an increase of valuation allowances of CHF 37 million mainly in respect of two of the Bank’s operating entities in the US and the UK. Lower taxed income 6M19 primarily included the impacts of CHF 24 million related to non-taxable life insurance income and CHF 23 million related to non-taxable dividend income. Other 6M19 included a tax charge of CHF 62 million relating to the tax impact of transitional adjustments arising on the first adoption of IFRS 9 for own credit movements, CHF 51 million relating to the US base erosion and anti-abuse tax (BEAT), CHF 26 million relating to withholding taxes and CHF 14 million relating to a prior year adjustment. This was partially offset by CHF 44 million relating to a beneficial earnings mix in one of the Bank’s operating entities in Switzerland and CHF 12 million relating to the release of previously unrecognized tax benefits. Net deferred tax assets end of 6M19 2018 Net deferred tax assets (CHF million) Deferred tax assets 4,725 4,887 of which net operating losses 1,655 1,632 of which deductible temporary differences 3,070 3,255 Deferred tax liabilities (246) (268) Net deferred tax assets 4,479 4,619 |
Employee deferred compensation
Employee deferred compensation | 6 Months Ended |
Jun. 30, 2019 | |
Employee deferred compensation | 26 Employee deferred compensation The Group’s current and previous deferred compensation plans include share awards, performance share awards, Contingent Capital Awards, Contingent Capital share awards and other cash awards. > Refer to “Note 29 – Employee deferred compensation” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2018 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 2Q19 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 2Q19 1Q19 2Q18 6M19 6M18 Deferred compensation expense (CHF million) Share awards 150 151 130 301 278 Performance share awards 122 108 92 230 201 Contingent Capital Awards 83 77 42 160 94 Contingent Capital share awards 0 0 0 0 1 Other cash awards 97 94 106 1 191 163 1 Total deferred compensation expense 452 430 370 1 882 737 1 1 Prior period has been corrected. Estimated unrecognized deferred compensation end of 2Q19 Estimated unrecognized compensation expense (CHF million) Share awards 780 Performance share awards 436 Contingent Capital Awards 288 Other cash awards 307 Total 1,811 Weighted-average requisite service period (years) Aggregate remaining weighted-average requisite service period 1.2 2Q19 activity In 2Q19, the Group awarded deferred fixed cash compensation of CHF 58 million to certain employees in the Americas. This compensation will be expensed in the Global Markets division over a three-year period from the grant date. Amortization of this compensation totaled CHF 13 million in 2Q19. Share-based award activity 2Q19 6M19 Performance Contingent Performance Contingent Share-based award activities Balance at beginning of period 139.2 97.7 3.4 83.2 51.7 3.4 Granted 6.1 0.0 0.0 65.3 46.1 0.0 Settled (31.4) (19.6) (3.3) (34.2) (19.6) (3.3) Forfeited (1.2) (0.6) 0.0 (1.6) (0.7) 0.0 Balance at end of period 112.7 77.5 0.1 112.7 77.5 0.1 of which vested 9.5 7.0 0.1 9.5 7.0 0.1 of which unvested 103.2 70.5 0.0 103.2 70.5 0.0 |
Bank | |
Employee deferred compensation | 25 Employee deferred compensation > Refer to “Note 26 – Employee deferred compensation” in III – Condensed consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q19 and “Note 28 – Employee deferred compensation” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2018 for further information. Deferred compensation expense in 6M19 6M18 Deferred compensation expense (CHF million) Share awards 294 270 Performance share awards 223 195 Contingent Capital Awards 156 92 Contingent Capital share awards 0 1 Other cash awards 173 157 1 Total deferred compensation expense 846 715 1 1 Prior period has been restated. Estimated unrecognized deferred compensation end of 6M19 Estimated unrecognized compensation expense (CHF million) Share awards 758 Performance share awards 419 Contingent Capital Awards 280 Other cash awards 269 Total 1,726 Weighted-average requisite service period (years) Aggregate remaining weighted-average requisite service period 1.2 6M19 activity In 6M19, the Bank granted share awards, performance share awards and Contingent Capital Awards (CCA) as part of the 2018 deferred variable compensation. Expense recognition for these awards began in 6M19 and will continue over the remaining service or vesting period of each respective award. Share awards In 6M19, the Bank granted 61.1 million share awards at a weighted-average share price of CHF 11.16. Each share award granted entitles the holder of the award to receive one Group share, subject to service conditions. Share awards vest over three years with one third of the share awards vesting on each of the three anniversaries of the grant date (ratable vesting), with the exception of awards granted to individuals classified as risk managers or senior managers under the UK Prudential Regulatory Authority (PRA) Remuneration Code or similar regulations in other jurisdictions. Share awards granted to risk managers vest over five years with one fifth of the award vesting on each of the five anniversaries of the grant date, while share awards granted to senior managers vest over five years commencing on the third anniversary of the grant date, with one fifth of the award vesting on each of the third to seventh anniversaries of the grant date. Share awards are expensed over the service period of the awards. Performance share awards In 6M19, the Bank granted 44.7 million performance share awards at a weighted-average share price of CHF 11.60. 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 6M19, the Bank awarded CHF 289 million of CCA. CCA are scheduled to vest on the third anniversary of the grant date, other than those granted to individuals classified as risk managers or senior managers under the UK PRA Remuneration Code or similar regulations in other jurisdictions, where CCA vest on the fifth and seventh anniversaries of the grant date, respectively, and will be expensed over the vesting period. Other cash awards In 6M19, the Bank awarded deferred fixed cash compensation of CHF 58 million to certain employees in the Americas. This compensation will be expensed in the Global Markets division over a three-year period from the grant date. Amortization of this compensation totaled CHF 13 million in 6M19. Share-based award activity 6M19 Performance Contingent Share-based award activities Balance at beginning of period 77.1 50.0 2.7 Granted 61.1 44.7 0.0 Settled (32.7) (19.2) (2.6) Forfeited (1.7) (0.9) 0.0 Balance at end of period 103.8 74.6 0.1 of which vested 8.9 6.6 0.1 of which unvested 94.9 68.0 0.0 |
Pension and other post-retireme
Pension and other post-retirement benefits | 6 Months Ended |
Jun. 30, 2019 | |
Pension and other post-retirement benefits | 27 Pension and other post-retirement benefits The Group sponsors defined contribution pension plans, defined benefit pension plans and other post-retirement defined benefit plans. The Group contributed and recognized expenses of CHF 44 million, CHF 41 million, CHF 43 million, CHF 85 million and CHF 85 million related to its defined contribution pension plans in 2Q19, 1Q19, 2Q18, 6M19 and 6M18, respectively. > Refer to “Note 31 – Pension and other post-retirement benefits” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2018 for further information. The Group expects to contribute CHF 429 million to the Swiss and international defined benefit plans and other post-retirement defined benefit plans in 2019. As of the end of 2Q19, CHF 242 million of contributions have been made. On April 3, 2019, Credit Suisse announced an amendment to its existing Swiss defined benefit pension plan and the introduction of a new Swiss defined contribution plan. Effective January 1, 2020, savings contributions on gross salary components exceeding a certain threshold will be credited to a new Swiss defined contribution plan and no longer paid into the lump-sum component of the existing Swiss defined benefit pension plan. In the new Swiss defined contribution plan, insured employees can select the investment strategy and will bear the investment risk. These changes resulted in a reduction of the Swiss pension plan liabilities and an increase in the overall funding surplus of the existing Swiss defined benefit pension plan of CHF 428 million (CHF 338 million, net of tax) which was recognized as a prior service credit in 2Q19. The plan amendment triggered a revaluation of plan assets and liabilities based on 1Q19 market data, resulting in an actuarial gain and an additional increase in the overall funding surplus of the Swiss defined benefit pension plan of CHF 406 million (CHF 323 million, net of tax). The total increase in the overall funding surplus of the Swiss defined benefit pension plan is reflected in Other assets – defined benefit pension and post-retirement plan assets. Components of net periodic benefit costs in 2Q19 1Q19 2Q18 6M19 6M18 Net periodic benefit costs/(credits) (CHF million) Service costs on benefit obligation 68 67 65 135 130 Interest costs on benefit obligation 34 46 39 80 78 Expected return on plan assets (126) (125) (150) (251) (299) Amortization of recognized prior service cost/(credit) (41) (30) (31) (71) (63) Amortization of recognized actuarial losses 80 76 90 156 179 Settlement losses/(gains) 0 0 0 0 (1) Curtailment losses/(gains) 0 0 (6) 0 (13) Special termination benefits 2 8 10 10 17 Net periodic benefit costs 17 42 17 59 28 Service costs on benefit obligation are reflected in compensation and benefits. Other components of net periodic benefit costs are reflected in general and administrative expenses or, until the end of 4Q18, in restructuring expenses. |
Bank | |
Pension and other post-retirement benefits | 26 Pension and other post-retirement benefits > Refer to “Note 27 – Pension and other post-retirement benefits” in III – Condensed consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q19 and “Note 30 – Pension and other post-retirement benefits” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2018 for further information. The Bank contributed and recognized expenses of CHF 248 million and CHF 270 million related to its defined contribution pension plans in 6M19 and 6M18, respectively. The Bank expects to contribute CHF 29 million to the international single-employer defined benefit pension plans and other post-retirement defined benefit plans in 2019. As of the end of 6M19, CHF 15 million of contributions had been made. Components of net periodic benefit costs in 6M19 6M18 Net periodic benefit costs/(credits) (CHF million) Service costs on benefit obligation 8 8 Interest costs on benefit obligation 50 47 Expected return on plan assets (55) (58) Amortization of recognized actuarial losses 10 26 Net periodic benefit costs 13 23 Service costs on benefit obligation are reflected in compensation and benefits. Other components of net periodic benefit costs are reflected in general and administrative expenses or, until the end of 2018, in restructuring expenses. |
Derivatives and hedging activit
Derivatives and hedging activities | 6 Months Ended |
Jun. 30, 2019 | |
Derivatives and hedging activities | 28 Derivatives and hedging activities > Refer to “Note 32 – Derivatives and hedging activities” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2018 for further information. Fair value of derivative instruments The tables below present gross derivative replacement values by type of contract and balance sheet location and whether the derivative is used for trading purposes or in a qualifying hedging relationship. Notional amounts have also been provided as an indication of the volume of derivative activity within the Group. Information on bifurcated embedded derivatives has not been included in these tables. Under US GAAP, the Group elected to account for substantially all financial instruments with an embedded derivative that is not considered clearly and closely related to the host contract at fair value. > Refer to “Note 31 – Financial instruments” for further information. Fair value of derivative instruments Trading Hedging 1 Positive Negative Positive Negative Derivative instruments (CHF billion) Forwards and forward rate agreements 8,664.3 2.0 1.9 0.0 0.0 0.0 Swaps 11,949.8 56.8 51.0 101.8 0.2 0.1 Options bought and sold (OTC) 1,749.7 20.7 20.2 0.0 0.0 0.0 Futures 305.3 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 232.5 0.4 0.4 0.0 0.0 0.0 Interest rate products 22,901.6 79.9 73.5 101.8 0.2 0.1 Forwards 1,080.0 7.3 8.2 12.5 0.1 0.1 Swaps 426.5 12.8 16.0 0.0 0.0 0.0 Options bought and sold (OTC) 319.1 3.2 3.7 0.0 0.0 0.0 Futures 7.0 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 0.4 0.0 0.0 0.0 0.0 0.0 Foreign exchange products 1,833.0 23.3 27.9 12.5 0.1 0.1 Forwards 0.8 0.1 0.0 0.0 0.0 0.0 Swaps 162.8 4.3 4.1 0.0 0.0 0.0 Options bought and sold (OTC) 234.5 8.1 6.6 0.0 0.0 0.0 Futures 48.8 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 423.0 11.2 12.5 0.0 0.0 0.0 Equity/index-related products 869.9 23.7 23.2 0.0 0.0 0.0 Credit derivatives 2 493.5 7.1 8.5 0.0 0.0 0.0 Forwards 11.2 0.2 0.1 0.0 0.0 0.0 Swaps 11.7 1.0 0.6 0.0 0.0 0.0 Options bought and sold (OTC) 10.8 0.2 0.2 0.0 0.0 0.0 Futures 11.8 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 1.5 0.0 0.0 0.0 0.0 0.0 Other products 3 47.0 1.4 0.9 0.0 0.0 0.0 Total derivative instruments 26,145.0 135.4 134.0 114.3 0.3 0.2 The notional amount, PRV and NRV (trading and hedging) was CHF 26,259.3 billion, CHF 135.7 billion and CHF 134.2 billion, respectively, as of the end of 2Q19. 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 7,477.7 3.6 3.7 0.0 0.0 0.0 Swaps 13,160.7 49.0 45.4 104.4 0.1 0.2 Options bought and sold (OTC) 2,027.6 17.0 17.1 0.0 0.0 0.0 Futures 256.8 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 111.1 0.3 0.3 0.0 0.0 0.0 Interest rate products 23,033.9 69.9 66.5 104.4 0.1 0.2 Forwards 1,124.5 9.5 10.5 12.0 0.1 0.1 Swaps 456.6 14.4 17.4 0.0 0.0 0.0 Options bought and sold (OTC) 313.0 3.9 4.3 0.0 0.0 0.0 Futures 10.7 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 Foreign exchange products 1,906.1 27.8 32.2 12.0 0.1 0.1 Forwards 0.7 0.2 0.1 0.0 0.0 0.0 Swaps 152.6 4.0 5.1 0.0 0.0 0.0 Options bought and sold (OTC) 211.9 7.3 6.5 0.0 0.0 0.0 Futures 39.2 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 356.7 11.9 14.4 0.0 0.0 0.0 Equity/index-related products 761.1 23.4 26.1 0.0 0.0 0.0 Credit derivatives 2 469.4 5.4 6.6 0.0 0.0 0.0 Forwards 8.2 0.1 0.1 0.0 0.0 0.0 Swaps 13.5 1.5 0.6 0.0 0.0 0.0 Options bought and sold (OTC) 9.5 0.1 0.1 0.0 0.0 0.0 Futures 9.3 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 1.9 0.0 0.0 0.0 0.0 0.0 Other products 3 42.4 1.7 0.8 0.0 0.0 0.0 Total derivative instruments 26,212.9 128.2 132.2 116.4 0.2 0.3 The notional amount, PRV and NRV (trading and hedging) was CHF 26,329.3 billion, CHF 128.4 billion and CHF 132.5 billion, respectively, as of the end of 4Q18. 1 Relates to derivative contracts that qualify for hedge accounting under US GAAP. 2 Primarily credit default swaps. 3 Primarily precious metals, commodity and energy products. Netting of derivative instruments > Refer to “Derivatives” in Note 24 – Offsetting of financial assets and financial liabilities for further information on the netting of derivative instruments. Gains or losses on fair value hedges 2Q19 1Q19 2Q18 6M19 6M18 Interest and Interest and Interest and Interest rate products (CHF million) Hedged items (991) (707) 100 (1,698) 790 Derivatives designated as hedging instruments 937 643 (106) 1,580 (755) Net gains/(losses) on the ineffective portion – – (6) – 35 As a result of the adoption of ASU2017-12 on January 1, 2019 the gains/(losses) on interest rate risk hedges are included in interest and dividend income while, in prior periods they were recorded in trading revenue. Additionally, the gains/(losses) on the ineffective portion are no longer separately measured and reported. The accrued interest on fair value hedges is recorded in interest and dividend income and is excluded from this table. Hedged items in fair value hedges 2Q19 Hedged items Carrying Hedging 1 Disconti- 2 Assets and liabilities (CHF billion) Net loans 15.6 0.4 0.8 Long-term debt 70.3 1.8 (0.1) 1 Relates to cumulative amount of fair value hedging adjustments included in the carrying amount. 2 Relates to cumulative amount of fair value hedging adjustments remaining for any hedged items for which hedge accounting has been discontinued. Cash flow hedges in 2Q19 1Q19 2Q18 6M19 6M18 Interest rate products (CHF million) Gains/(losses) recognized in AOCI on derivatives 71 49 (31) 120 (92) Gains/(losses) reclassified from AOCI into interest and dividend income 1 1 (24) 2 (40) Foreign exchange products (CHF million) Gains/(losses) recognized in AOCI on derivatives (10) 3 (79) (7) (76) Trading revenues 5 (1) (40) 4 (39) Other revenues (2) (2) (2) (4) (3) Total other operating expenses (5) (1) 0 (6) 0 Total gains/(losses) reclassified from AOCI into income (2) (4) (42) (6) (42) Gains/(losses) excluded from the assessment of effectiveness reported in trading revenues 1 (4) (3) – (7) – Interest rate and foreign exchange products (CHF million) Net gains/(losses) on the ineffective portion – – (1) 2 – (2) 2 As a result of the adoption ASU 2017-12 on January 1, 2019 the gains/(losses) on the ineffective portion are no longer separately measured and reported. 1 Related to the forward points of a foreign currency forward. 2 Included in trading revenues. As of the end of 2Q19, 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 one year. The net loss associated with cash flow hedges expected to be reclassified from AOCI within the next 12 months is CHF 10 million. Net investment hedges in 2Q19 1Q19 2Q18 6M19 6M18 Foreign exchange products (CHF million) Gains/(losses) recognized in the cumulative translation adjustments section of AOCI 9 (130) 141 (121) 158 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 2Q19 4Q18 Special Special Contingent credit risk (CHF billion) Current net exposure 3.1 0.1 0.3 3.5 3.6 0.1 0.3 4.0 Collateral posted 2.8 0.1 – 2.9 3.4 0.1 – 3.5 Impact of a one-notch downgrade event 0.1 0.1 0.0 0.2 0.2 0.0 0.0 0.2 Impact of a two-notch downgrade event 0.3 0.1 0.0 0.4 0.9 0.0 0.1 1.0 Impact of a three-notch downgrade event 1.0 0.1 0.1 1.2 1.0 0.1 0.2 1.3 Credit derivatives > Refer to “Note 32 – Derivatives and hedging activities” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2018 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 9.5 billion and CHF 9.7 billion as of the end of 2Q19 and 4Q18, 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 2Q19 4Q18 1 Net credit Fair value 1 Net credit Fair value Single-name instruments (CHF billion) Investment grade 2 (50.7) 46.5 (4.2) 10.3 0.4 (46.0) 43.1 (2.9) 11.8 0.2 Non-investment grade (30.8) 27.9 (2.9) 20.5 0.1 (26.2) 24.3 (1.9) 17.7 (0.2) Total single-name instruments (81.5) 74.4 (7.1) 30.8 0.5 (72.2) 67.4 (4.8) 29.5 0.0 of which sovereign (16.6) 14.4 (2.2) 4.6 0.0 (16.4) 15.0 (1.4) 5.5 (0.1) of which non-sovereign (64.9) 60.0 (4.9) 26.2 0.5 (55.8) 52.4 (3.4) 24.0 0.1 Multi-name instruments (CHF billion) Investment grade 2 (102.0) 98.4 (3.6) 34.9 0.3 (102.9) 102.4 (0.5) 25.1 (0.8) Non-investment grade (27.8) 25.6 (2.2) 8.6 3 0.9 (26.5) 25.3 (1.2) 8.4 3 0.1 Total multi-name instruments (129.8) 124.0 (5.8) 43.5 1.2 (129.4) 127.7 (1.7) 33.5 (0.7) of which sovereign (0.2) 0.2 0.0 0.0 0.0 (0.2) 0.2 0.0 0.0 0.0 of which non-sovereign (129.6) 123.8 (5.8) 43.5 1.2 (129.2) 127.5 (1.7) 33.5 (0.7) Total instruments (CHF billion) Investment grade 2 (152.7) 144.9 (7.8) 45.2 0.7 (148.9) 145.5 (3.4) 36.9 (0.6) Non-investment grade (58.6) 53.5 (5.1) 29.1 1.0 (52.7) 49.6 (3.1) 26.1 (0.1) Total instruments (211.3) 198.4 (12.9) 74.3 1.7 (201.6) 195.1 (6.5) 63.0 (0.7) of which sovereign (16.8) 14.6 (2.2) 4.6 0.0 (16.6) 15.2 (1.4) 5.5 (0.1) of which non-sovereign (194.5) 183.8 (10.7) 69.7 1.7 (185.0) 179.9 (5.1) 57.5 (0.6) 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 2Q19 4Q18 Credit derivatives (CHF billion) Credit protection sold 211.3 201.6 Credit protection purchased 198.4 195.1 Other protection purchased 74.3 63.0 Other instruments 1 9.5 9.7 Total credit derivatives 493.5 469.4 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 2Q19 (CHF billion) Single-name instruments 15.7 60.9 4.9 81.5 Multi-name instruments 28.4 82.7 18.7 129.8 Total instruments 44.1 143.6 23.6 211.3 4Q18 (CHF billion) Single-name instruments 13.1 54.9 4.2 72.2 Multi-name instruments 28.8 80.6 20.0 129.4 Total instruments 41.9 135.5 24.2 201.6 |
Bank | |
Derivatives and hedging activities | 27 Derivatives and hedging activities > Refer to “Note 31 – Derivatives and hedging activities” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2018 for further information. Fair value of derivative instruments The tables below present gross derivative replacement values by type of contract and balance sheet location and whether the derivative is used for trading purposes or in a qualifying hedging relationship. Notional amounts have also been provided as an indication of the volume of derivative activity within the Bank. Information on bifurcated embedded derivatives has not been included in these tables. Under US GAAP, the Bank elected to account for substantially all financial instruments with an embedded derivative that is not considered clearly and closely related to the host contract at fair value. > Refer to “Note 30 – Financial instruments” for further information. Fair value of derivative instruments Trading Hedging 1 Positive Negative Positive Negative Derivative instruments (CHF billion) Forwards and forward rate agreements 8,664.3 2.0 1.9 0.0 0.0 0.0 Swaps 11,950.8 56.8 51.0 101.8 0.2 0.1 Options bought and sold (OTC) 1,749.7 20.7 20.2 0.0 0.0 0.0 Futures 305.3 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 232.5 0.4 0.4 0.0 0.0 0.0 Interest rate products 22,902.6 79.9 73.5 101.8 0.2 0.1 Forwards 1,080.0 7.3 8.2 12.5 0.1 0.1 Swaps 426.5 12.8 16.0 0.0 0.0 0.0 Options bought and sold (OTC) 319.1 3.2 3.7 0.0 0.0 0.0 Futures 7.0 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 0.4 0.0 0.0 0.0 0.0 0.0 Foreign exchange products 1,833.0 23.3 27.9 12.5 0.1 0.1 Forwards 0.8 0.1 0.0 0.0 0.0 0.0 Swaps 162.8 4.3 4.1 0.0 0.0 0.0 Options bought and sold (OTC) 234.5 8.1 6.6 0.0 0.0 0.0 Futures 48.8 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 423.0 11.2 12.5 0.0 0.0 0.0 Equity/index-related products 869.9 23.7 23.2 0.0 0.0 0.0 Credit derivatives 2 493.5 7.1 8.5 0.0 0.0 0.0 Forwards 11.2 0.2 0.1 0.0 0.0 0.0 Swaps 11.7 1.0 0.6 0.0 0.0 0.0 Options bought and sold (OTC) 10.8 0.2 0.2 0.0 0.0 0.0 Futures 11.8 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 1.5 0.0 0.0 0.0 0.0 0.0 Other products 3 47.0 1.4 0.9 0.0 0.0 0.0 Total derivative instruments 26,146.0 135.4 134.0 114.3 0.3 0.2 The notional amount, PRV and NRV (trading and hedging) was CHF 26,260.3 billion, CHF 135.7 billion and CHF 134.2 billion, respectively, as of June 30, 2019. 1 Relates to derivative contracts that qualify for hedge accounting under US GAAP. 2 Primarily credit default swaps. 3 Primarily precious metals, commodity and energy products. Fair value of derivative instruments (continued) Trading Hedging 1 Positive Negative Positive Negative Derivative instruments (CHF billion) Forwards and forward rate agreements 7,477.7 3.6 3.7 0.0 0.0 0.0 Swaps 13,161.7 2 49.0 45.4 104.4 2 0.1 0.2 Options bought and sold (OTC) 2,027.6 17.0 17.1 0.0 0.0 0.0 Futures 256.8 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 111.1 0.3 0.3 0.0 0.0 0.0 Interest rate products 23,034.9 2 69.9 66.5 104.4 2 0.1 0.2 Forwards 1,124.5 9.5 10.5 12.0 0.1 0.1 Swaps 456.6 14.4 17.4 0.0 0.0 0.0 Options bought and sold (OTC) 313.0 3.9 4.3 0.0 0.0 0.0 Futures 10.7 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 Foreign exchange products 1,906.1 27.8 32.2 12.0 0.1 0.1 Forwards 0.7 0.2 0.1 0.0 0.0 0.0 Swaps 152.9 4.1 5.0 0.0 0.0 0.0 Options bought and sold (OTC) 212.3 7.3 6.7 0.0 0.0 0.0 Futures 39.2 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 356.7 11.9 14.4 0.0 0.0 0.0 Equity/index-related products 761.8 23.5 26.2 0.0 0.0 0.0 Credit derivatives 3 469.4 5.4 6.6 0.0 0.0 0.0 Forwards 8.2 0.1 0.1 0.0 0.0 0.0 Swaps 13.5 1.5 0.6 0.0 0.0 0.0 Options bought and sold (OTC) 9.5 0.1 0.1 0.0 0.0 0.0 Futures 9.3 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 1.9 0.0 0.0 0.0 0.0 0.0 Other products 4 42.4 1.7 0.8 0.0 0.0 0.0 Total derivative instruments 26,214.6 2 128.3 132.3 116.4 2 0.2 0.3 The notional amount, PRV and NRV (trading and hedging) was CHF 26,331.0 billion, CHF 128.5 billion and CHF 132.6 billion, respectively, as of December 31, 2018. 1 Relates to derivative contracts that qualify for hedge accounting under US GAAP. 2 Prior period has been corrected 3 Primarily credit default swaps. 4 Primarily precious metals, commodity and energy products. Netting of derivative instruments > Refer to “Note 23 – Offsetting of financial assets and financial liabilities” for further information on the offsetting of derivative instruments. Gains or losses on fair value hedges 6M19 6M18 Interest and Interest rate products (CHF million) Hedged items (1,698) 790 Derivatives designated as hedging instruments 1,580 (755) Net gains/(losses) on the ineffective portion – 35 As a result of the adoption of ASU2017-12 on January 1, 2019 the gains/(losses) on interest rate risk hedges are included in interest and dividend income while, in prior periods they were recorded in trading revenue. Additionally, the gains/(losses) on the ineffective portion are no longer separately measured and reported. The accrued interest on fair value hedges is recorded in interest and dividend income and is excluded from this table. Hedged items in fair value hedges 6M19 Hedged items Carrying Hedging 1 Disconti- 2 Assets and liabilities (CHF billion) Net loans 15.6 0.4 0.8 Long-term debt 70.3 1.8 (0.1) 1 Relates to cumulative amount of fair value hedging adjustments included in the carrying amount. 2 Relates to cumulative amount of fair value hedging adjustments remaining for any hedged items for which hedge accounting has been discontinued. Cash flow hedges in 6M19 6M18 Interest rate products (CHF million) Gains/(losses) recognized in AOCI on derivative 120 (92) Gains/(losses) reclassified from AOCI into interest and dividend income 2 (40) Foreign exchange products (CHF million) Gains/(losses) recognized in AOCI on derivatives (1) (73) Trading revenues 4 (39) Total other operating expenses (6) 0 Total gains/(losses) reclassified from AOCI into income (2) (39) Gains/(losses) excluded from the assessment of effectiveness reported in trading revenues 1 (7) – Interest rate and foreign exchange products (CHF million) Net gains/(losses) on the ineffective portions – (2) 2 As a result of the adoption of ASU2017-12 on January 1, 2019 the gains/(losses) on the ineffective portion are no longer separately measured and reported. 1 Related to the forward points of a foreign currency forward. 2 Included in trading revenues. As of the end of 6M19, 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 one year. The net gain associated with cash flow hedges expected to be reclassified from accumulated other comprehensive income (AOCI) within the next 12 months was CHF 7 million. Net investment hedges in 6M19 6M18 Foreign exchange products (CHF million) Gains/(losses) recognized in the cumulative translation adjustments section of AOCI (119) 158 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 6M19 2018 Special Special Contingent credit risk (CHF billion) Current net exposure 3.1 0.1 0.3 3.5 3.6 0.1 0.3 4.0 Collateral posted 2.8 0.1 – 2.9 3.4 0.1 – 3.5 Impact of a one-notch downgrade event 0.1 0.1 0.0 0.2 0.2 0.0 0.0 0.2 Impact of a two-notch downgrade event 0.3 0.1 0.0 0.4 0.9 0.0 0.1 1.0 Impact of a three-notch downgrade event 1.0 0.1 0.1 1.2 1.0 0.1 0.2 1.3 The impact of a downgrade event reflects the amount of additional collateral required for bilateral counterparties and special purpose entities and the amount of additional termination expenses for accelerated terminations, respectively. Credit derivatives > Refer to “Note 31 – Derivatives and hedging activities” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2018 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 9.5 billion and CHF 9.7 billion as of the end of 6M19 and 2018, 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 6M19 2018 1 Net credit Fair value 1 Net credit Fair value Single-name instruments (CHF billion) Investment grade 2 (50.7) 46.5 (4.2) 10.3 0.4 (46.0) 43.1 (2.9) 11.8 0.2 Non-investment grade (30.8) 27.9 (2.9) 20.5 0.1 (26.2) 24.3 (1.9) 17.7 (0.2) Total single-name instruments (81.5) 74.4 (7.1) 30.8 0.5 (72.2) 67.4 (4.8) 29.5 0.0 of which sovereign (16.6) 14.4 (2.2) 4.6 0.0 (16.4) 15.0 (1.4) 5.5 (0.1) of which non-sovereign (64.9) 60.0 (4.9) 26.2 0.5 (55.8) 52.4 (3.4) 24.0 0.1 Multi-name instruments (CHF billion) Investment grade 2 (102.0) 98.4 (3.6) 34.9 0.3 (102.9) 102.4 (0.5) 25.1 (0.8) Non-investment grade (27.8) 25.6 (2.2) 8.6 3 0.9 (26.5) 25.3 (1.2) 8.4 3 0.1 Total multi-name instruments (129.8) 124.0 (5.8) 43.5 1.2 (129.4) 127.7 (1.7) 33.5 (0.7) of which sovereign (0.2) 0.2 0.0 0.0 0.0 (0.2) 0.2 0.0 0.0 0.0 of which non-sovereign (129.6) 123.8 (5.8) 43.5 1.2 (129.2) 127.5 (1.7) 33.5 (0.7) Total instruments (CHF billion) Investment grade 2 (152.7) 144.9 (7.8) 45.2 0.7 (148.9) 145.5 (3.4) 36.9 (0.6) Non-investment grade (58.6) 53.5 (5.1) 29.1 1.0 (52.7) 49.6 (3.1) 26.1 (0.1) Total instruments (211.3) 198.4 (12.9) 74.3 1.7 (201.6) 195.1 (6.5) 63.0 (0.7) of which sovereign (16.8) 14.6 (2.2) 4.6 0.0 (16.6) 15.2 (1.4) 5.5 (0.1) of which non-sovereign (194.5) 183.8 (10.7) 69.7 1.7 (185.0) 179.9 (5.1) 57.5 (0.6) 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 6M19 2018 Credit derivatives (CHF billion) Credit protection sold 211.3 201.6 Credit protection purchased 198.4 195.1 Other protection purchased 74.3 63.0 Other instruments 1 9.5 9.7 Total credit derivatives 493.5 469.4 1 Consists of total return swaps and other derivative instruments. Maturity of credit protection sold Maturity Maturity Maturity 6M19 (CHF billion) Single-name instruments 15.7 60.9 4.9 81.5 Multi-name instruments 28.4 82.7 18.7 129.8 Total instruments 44.1 143.6 23.6 211.3 2018 (CHF billion) Single-name instruments 13.1 54.9 4.2 72.2 Multi-name instruments 28.8 80.6 20.0 129.4 Total instruments 41.9 135.5 24.2 201.6 |
Guarantees and commitments
Guarantees and commitments | 6 Months Ended |
Jun. 30, 2019 | |
Guarantees and commitments | 29 Guarantees and commitments Guarantees In the ordinary course of business, guarantees are provided that contingently obligate the Group to make payments to third parties if the counterparty fails to fulfill its obligation under a borrowing or other contractual arrangement. The total gross amount disclosed within the Guarantees table reflects the maximum potential payment under the guarantees. The carrying value represents the higher of the initial fair value (generally the related fee received or receivable) less cumulative amortization and the Group’s current best estimate of payments that will be required under existing guarantee arrangements. Guarantees provided by the Group are classified as follows: credit guarantees and similar instruments, performance guarantees and similar instruments, derivatives and other guarantees. > Refer to “Guarantees” in VI – Consolidated financial statements – Credit Suisse Group – Note 33 – Guarantees and commitments in the Credit Suisse Annual Report 2018 for a detailed description of guarantees. Guarantees Maturity Maturity Total Total 1 2Q19 (CHF million) Credit guarantees and similar instruments 2,455 893 3,348 3,235 12 1,650 Performance guarantees and similar instruments 5,030 1,967 6,997 6,169 32 2,847 Derivatives 2 12,160 7,668 19,828 19,828 418 – 3 Other guarantees 4,806 1,798 6,604 6,531 62 4,102 Total guarantees 24,451 12,326 36,777 35,763 524 8,599 4Q18 (CHF million) Credit guarantees and similar instruments 2,228 1,055 3,283 3,194 14 1,748 Performance guarantees and similar instruments 5,008 2,136 7,144 6,278 44 3,153 Derivatives 2 17,594 6,029 23,623 23,623 919 – 3 Other guarantees 4,325 2,562 6,887 6,814 56 4,169 Total guarantees 29,155 11,782 40,937 39,909 1,033 9,070 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, 2018 to June 30, 2019 was CHF 0.5 billion. These deposit insurance guarantees were reflected in other guarantees. For the period July 1, 2019 to June 30, 2020, 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. Repurchase claims on residential mortgage loans sold that are subject to arbitration or litigation proceedings, or become so during the reporting period, are not included in this Guarantees and commitments disclosure but are addressed in litigation and related loss contingencies and provisions. The Group is involved in litigation relating to representations and warranties on residential mortgages sold. > Refer to “Note 33 – Litigation” for further information. Disposal-related contingencies and other indemnifications The Group has certain guarantees for which its maximum contingent liability cannot be quantified. These guarantees include disposal-related contingencies in connection with the sale of assets or businesses, and other indemnifications. These guarantees are not reflected in the “Guarantees” table. > Refer to “Disposal-related contingencies and other indemnifications” in VI – Consolidated financial statements – Credit Suisse Group – Note 33 – Guarantees and commitments in the Credit Suisse Annual Report 2018 for a description of these guarantees. Other commitments Other commitments of the Group are classified as follows: irrevocable commitments under documentary credits, irrevocable loan commitments, forward reverse repurchase agreements and other commitments. > Refer to “Other commitments” in VI – Consolidated financial statements – Credit Suisse Group – Note 33 – Guarantees and commitments in the Credit Suisse Annual Report 2018 for a description of these commitments. Other commitments end of 2Q19 4Q18 Maturity Maturity Total Total 1 Maturity Maturity Total Total 1 Other commitments (CHF million) Irrevocable commitments under documentary credits 4,015 167 4,182 4,097 2,926 5,056 182 5,238 5,077 3,651 Irrevocable loan commitments 2 29,424 93,285 122,709 117,513 61,530 26,882 89,191 116,073 111,967 57,153 Forward reverse repurchase agreements 133 0 133 133 133 31 0 31 31 31 Other commitments 411 124 535 535 0 329 163 492 492 4 Total other commitments 33,983 93,576 127,559 122,278 64,589 32,298 89,536 121,834 117,567 60,839 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 121,484 million and CHF 113,580 million of unused credit limits as of the end of 2Q19 and 4Q18 respectively, which were revocable at the Group's sole discretion upon notice to the client. |
Bank | |
Guarantees and commitments | 28 Guarantees and commitments > Refer to “Note 29 – Guarantees and commitments” in III – Condensed consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q19 and to “Note 32 – Guarantees and commitments” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2018 for further information. Guarantees Maturity Maturity 1 6M19 (CHF million) Credit guarantees and similar instruments 2,455 897 3,352 3,239 12 1,650 Performance guarantees and similar instruments 5,030 1,967 6,997 6,169 32 2,847 Derivatives 2 12,160 7,668 19,828 19,828 418 – 3 Other guarantees 4,806 1,798 6,604 6,531 62 4,102 Total guarantees 24,451 12,330 36,781 35,767 524 8,599 2018 (CHF million) Credit guarantees and similar instruments 2,229 1,059 3,288 3,199 14 1,752 Performance guarantees and similar instruments 5,008 2,136 7,144 6,278 44 3,153 Derivatives 2 17,594 6,029 23,623 23,623 919 – 3 Other guarantees 4,325 2,562 6,887 6,814 56 4,169 Total guarantees 29,156 11,786 40,942 39,914 1,033 9,074 1 Total net amount is computed as the gross amount less any participations. 2 Excludes derivative contracts with certain active commercial and investment banks and certain other counterparties, as such contracts can be cash settled and the Bank had no basis to conclude it was probable that the counterparties held, at inception, the underlying instruments. 3 Collateral for derivatives accounted for as guarantees is not considered significant. Deposit-taking banks and securities dealers in Switzerland and certain other European countries are required to ensure the payout of privileged deposits in case of specified restrictions or compulsory liquidation of a deposit-taking bank. In Switzerland, deposit-taking banks and securities dealers jointly guarantee an amount of up to CHF 6 billion. Upon occurrence of a payout event triggered by a specified restriction of business imposed by the Swiss Financial Market Supervisory Authority FINMA (FINMA) or by the compulsory liquidation of another deposit taking bank, the Bank’s contribution will be calculated based on its share of privileged deposits in proportion to total privileged deposits. Based on FINMA’s estimate for the Bank’s banking subsidiaries in Switzerland, the Bank’s share in the deposit insurance guarantee program for the period July 1, 2018 to June 30, 2019 was CHF 0.5 billion. These deposit insurance guarantees were reflected in other guarantees. For the period July 1, 2019 to June 30, 2020, 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 29 – Guarantees and commitments” in III – Consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q19 and to “Note 32 – Guarantees and commitments” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2018 for further information. Other commitments 6M19 2018 Maturity Maturity 1 Maturity Maturity 1 Other commitments (CHF million) Irrevocable commitments under documentary credits 4,015 167 4,182 4,097 2,926 5,056 182 5,238 5,077 3,651 Irrevocable loan commitments 29,424 93,285 122,709 2 117,513 61,530 26,882 89,191 116,073 2 111,967 57,153 Forward reverse repurchase agreements 133 0 133 133 133 31 0 31 31 31 Other commitments 411 124 535 535 0 329 163 492 492 4 Total other commitments 33,983 93,576 127,559 122,278 64,589 32,298 89,536 121,834 117,567 60,839 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 121,485 million and CHF 113,593 million of unused credit limits as of the end of 6M19 and 2018, 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, 2019 | |
Transfers of financial assets and variable interest entities | 30 Transfers of financial assets and variable interest entities In the normal course of business, the Group enters into transactions with, and makes use of, SPEs. An SPE is an entity in the form of a trust or other legal structure designed to fulfill a specific limited need of the company that organized it and is generally structured to isolate the SPE’s assets from creditors of other entities, including the Group. The principal uses of SPEs are to assist the Group and its clients in securitizing financial assets and creating investment products. The Group also uses SPEs for other client-driven activity, such as to facilitate financings, and for Group tax or regulatory purposes. Transfers of financial assets Securitizations The majority of the Group’s securitization activities involve mortgages and mortgage-related securities and are predominantly transacted using SPEs. In a typical securitization, the SPE purchases assets financed by proceeds received from the SPE’s issuance of debt and equity instruments, certificates, 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. Third-party guarantees may further enhance the creditworthiness of the assets. The investors and the SPEs have no recourse to the Group’s assets. The Group is typically an underwriter of, and makes a market in, these securities. The Group also transacts in re-securitizations of previously issued RMBS 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 re-securitize an existing security to give the investor an investment with different risk ratings or characteristics. The Group also uses SPEs for other asset-backed financings relating to client-driven activity and for Group tax or regulatory purposes. Types of structures included in this category include managed collateralized loan obligations (CLOs), CLOs, leveraged finance, repack and other types of transactions, including life insurance structures, emerging market structures set up for financing, loan participation or loan origination purposes, and other alternative structures created for the purpose of investing in venture capital-like investments. CLOs are collateralized by loans transferred to the CLO vehicle and pay a return based on the returns on the loans. Leveraged finance structures are used to assist in the syndication of certain loans held by the Group, while repack structures are designed to give a client collateralized exposure to specific cash flows or credit risk backed by collateral purchased from the Group. In these asset-backed financing structures, investors typically only have recourse to the collateral of the SPE and do not have recourse to the Group’s assets. When the Group transfers assets into an SPE, it must assess whether that transfer is accounted for as a sale of the assets. Transfers of assets may not meet sale requirements if the assets have not been legally isolated from the Group and/or if the Group’s continuing involvement is deemed to give it effective control over the assets. If the transfer is not deemed a sale, it is instead accounted for as a secured borrowing, with the transferred assets as collateral. Gains and losses on securitization transactions depend, in part, on the carrying values of mortgages and loans involved in the transfer and are allocated between the assets sold and any beneficial interests retained according to the relative fair values at the date of sale. The Group does not retain material servicing responsibilities from securitization activities. The following table provides the gains or losses and proceeds from the transfer of assets relating to 6M19 and 6M18 securitizations of financial assets that qualify for sale accounting and subsequent derecognition, along with the cash flows between the Group and the SPEs used in any securitizations in which the Group still has continuing involvement, regardless of when the securitization occurred. Securitizations in 6M19 6M18 Gains/(losses) and cash flows (CHF million) CMBS Net gain/(loss) 1 (1) 7 Proceeds from transfer of assets 3,632 3,568 Cash received on interests that continue to be held 19 23 RMBS Net gain/(loss) 1 (4) (4) Proceeds from transfer of assets 8,045 16,765 Purchases of previously transferred financial assets or its underlying collateral (1) (1) Servicing fees 1 1 Cash received on interests that continue to be held 116 406 Other asset-backed financings Net gain 1 48 58 Proceeds from transfer of assets 4,801 3,950 Purchases of previously transferred financial assets or its underlying collateral (389) (232) Fees 2 74 67 Cash received on interests that continue to be held 3 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 Represents management fees and performance fees earned for investment management services provided to managed CLOs. Continuing involvement in transferred financial assets The Group may have continuing involvement in the financial assets that are transferred to an SPE which may take several forms, including, but not limited to, servicing, recourse and guarantee arrangements, agreements to purchase or redeem transferred assets, derivative instruments, pledges of collateral and beneficial interests in the transferred assets. > Refer to “Transfer of financial assets” in VI – Consolidated financial statements – Credit Suisse Group – Note 34 – Transfer of financial assets and variable interest entities in the Credit Suisse Annual Report 2018 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 2Q19 and 4Q18, regardless of when the transfer of assets occurred. Principal amounts outstanding and total assets of SPEs resulting from continuing involvement end of 2Q19 4Q18 CHF million CMBS Principal amount outstanding 21,607 25,330 Total assets of SPE 31,491 35,760 RMBS Principal amount outstanding 48,923 40,253 Total assets of SPE 49,857 41,242 Other asset-backed financings Principal amount outstanding 22,782 23,036 Total assets of SPE 47,272 47,542 Principal amount outstanding relates to assets transferred from the Group and does not include principal amounts for assets transferred from third parties. Fair value of beneficial interests The fair value measurement of the beneficial interests held at the time of transfer and as of the reporting date that result from any continuing involvement is determined using fair value estimation techniques, such as the present value of estimated future cash flows that incorporate assumptions that market participants customarily use in these valuation techniques. The fair value of the assets or liabilities that result from any continuing involvement does not include any benefits from financial instruments that the Group may utilize to hedge the inherent risks. Key economic assumptions at the time of transfer > Refer to “Note 31 – Financial instruments” for further information on the fair value hierarchy. Key economic assumptions used in measuring fair value of beneficial interests at time of transfer 6M19 6M18 at time of transfer, in CMBS RMBS CMBS RMBS CHF million, except where indicated Fair value of beneficial interests 281 885 463 2,626 of which level 2 264 826 463 2,542 of which level 3 17 59 0 84 Weighted-average life, in years 4.1 4.7 5.7 7.6 Prepayment speed assumption (rate per annum), in % 1 – 2 2.0 – 37.3 – 2 5.5 – 13.5 Cash flow discount rate (rate per annum), in % 3 2.5 – 8.3 2.3 – 11.6 3.6 – 9.8 3.0 – 13.2 Expected credit losses (rate per annum), in % 4 1.3 – 5.8 1.7 – 3.4 1.8 – 1.8 2.8 – 5.5 Transfers of assets in which the Group does not have beneficial interests are not included in this table. 1 Prepayment speed assumption (PSA) is an industry standard prepayment speed metric used for projecting prepayments over the life of a residential mortgage loan. PSA utilizes the constant prepayment rate (CPR) assumptions. A 100% prepayment assumption assumes a prepayment rate of 0.2% per annum of the outstanding principal balance of mortgage loans in the first month. This increases by 0.2 percentage points thereafter during the term of the mortgage loan, leveling off to a CPR of 6% per annum beginning in the 30th month and each month thereafter during the term of the mortgage loan. 100 PSA equals 6 CPR. 2 To deter prepayment, commercial mortgage loans typically have prepayment protection in the form of prepayment lockouts and yield maintenances. 3 The rate is based on the weighted-average yield on the beneficial interests. 4 The range of expected credit losses only reflects instruments with an expected credit loss greater than zero unless all of the instruments have an expected credit loss of zero. Key economic assumptions as of the reporting date The following table provides the sensitivity analysis of key economic assumptions used in measuring the fair value of beneficial interests held in SPEs as of the end of 2Q19 and 4Q18. Key economic assumptions used in measuring fair value of beneficial interests held in SPEs 2Q19 4Q18 1 Other asset- 2 1 Other asset- 2 CHF million, except where indicated Fair value of beneficial interests 583 1,439 1,154 805 2,006 226 of which non-investment grade 176 209 20 112 307 26 Weighted-average life, in years 3.7 5.0 1.7 5.7 7.9 5.6 Prepayment speed assumption (rate per annum), in % 3 – 3.0 – 37.3 – – 2.0 – 20.0 – Impact on fair value from 10% adverse change – (25.5) – – (22.3) – Impact on fair value from 20% adverse change – (49.1) – – (43.2) – Cash flow discount rate (rate per annum), in % 4 2.4 – 23.6 2.0 – 30.5 0.8 – 21.2 3.4 – 14.3 3.0 – 21.3 1.0 – 21.2 Impact on fair value from 10% adverse change (8.1) (23.8) (4.2) (20.7) (52.1) (2.9) Impact on fair value from 20% adverse change (15.8) (46.5) (9.4) (37.6) (101.3) (5.7) Expected credit losses (rate per annum), in % 5 0.5 – 5.8 1.0 – 28.7 0.9 – 21.2 0.8 – 4.7 0.6 – 18.8 1.0 – 21.2 Impact on fair value from 10% adverse change (4.9) (14.1) (2.8) (10.2) (23.8) (2.4) Impact on fair value from 20% adverse change (9.7) (27.6) (6.2) (17.3) (46.7) (4.8) 1 To deter prepayment, commercial mortgage loans typically have prepayment protection in the form of prepayment lockouts and yield maintenances. 2 CDOs and CLOs within this category are generally structured to be protected from prepayment risk. 3 PSA is an industry standard prepayment speed metric used for projecting prepayments over the life of a residential mortgage loan. PSA utilizes the CPR assumptions. A 100% prepayment assumption assumes a prepayment rate of 0.2% per annum of the outstanding principal balance of mortgage loans in the first month. This increases by 0.2 percentage points thereafter during the term of the mortgage loan, leveling off to a CPR of 6% per annum beginning in the 30th month and each month thereafter during the term of the mortgage loan. 100 PSA equals 6 CPR. 4 The rate is based on the weighted-average yield on the beneficial interests. 5 The range of expected credit losses only reflects instruments with an expected credit loss greater than zero unless all of the instruments have an expected credit loss of zero. These sensitivities are hypothetical and do not reflect economic hedging activities. Changes in fair value based on a 10% or 20% variation in assumptions generally cannot be extrapolated because the relationship of the change in assumption to the change in fair value may not be linear. Also, the effect of a variation in a particular assumption on the fair value of the beneficial interests is calculated without changing any other assumption. In practice, changes in one assumption may result in changes in other assumptions (for example, increases in market interest rates may result in lower prepayments and increased credit losses), which might magnify or counteract the sensitivities. Transfers of financial assets where sale treatment was not achieved The following table provides the carrying amounts of transferred financial assets and the related liabilities where sale treatment was not achieved as of the end of 2Q19 and 4Q18. > Refer to “Note 32 – Assets pledged and collateral” for further information. Carrying amounts of transferred financial assets and liabilities where sale treatment was not achieved end of 2Q19 4Q18 CHF million Other asset-backed financings Trading assets 276 255 Liability to SPE, included in other liabilities (276) (255) 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 2Q19 and 4Q18. Securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral – by class of collateral pledged end of 2Q19 4Q18 CHF billion Government debt securities 16.1 31.1 Corporate debt securities 10.2 9.6 Asset-backed securities 1.9 1.8 Other 0.2 0.2 Securities sold under repurchase agreements 28.4 42.7 Government debt securities 0.5 1.4 Corporate debt securities 0.2 0.2 Equity securities 4.1 3.2 Other 0.1 0.2 Securities lending transactions 4.9 5.0 Government debt securities 2.8 3.6 Corporate debt securities 1.2 1.0 Asset-backed securities 0.1 0.1 Equity securities 41.3 37.0 Obligation to return securities received as collateral, at fair value 45.4 41.7 Total 78.7 89.4 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 2Q19 (CHF billion) Securities sold under repurchase agreements 7.2 14.1 4.5 2.6 28.4 Securities lending transactions 4.8 0.1 0.0 0.0 4.9 Obligation to return securities received as collateral, at fair value 45.4 0.0 0.0 0.0 45.4 Total 57.4 14.2 4.5 2.6 78.7 4Q18 (CHF billion) Securities sold under repurchase agreements 7.4 26.3 6.7 2.3 42.7 Securities lending transactions 4.1 0.9 0.0 0.0 5.0 Obligation to return securities received as collateral, at fair value 41.4 0.1 0.2 0.0 41.7 Total 52.9 27.3 6.9 2.3 89.4 1 Includes contracts with no contractual maturity that may contain termination arrangements subject to a notice period. 2 Includes overnight transactions. > Refer to “Note 24 – Offsetting of financial assets and financial liabilities” for further information on the gross amount of securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral and the net amounts disclosed in the consolidated balance sheets. Variable interest entities As a normal part of its business, the Group engages in various transactions that include entities that are considered variable interest entities (VIEs) and are grouped into three primary categories: collateralized debt obligations (CDOs)/CLOs, CP conduits and financial intermediation. > Refer to “Variable interest entities” in VI – Consolidated financial statements – Credit Suisse Group – Note 34 – Transfer of financial assets and variable interest entities in the Credit Suisse Annual Report 2018 for a detailed description of VIEs, CDO/CLOs, CP conduit or financial intermediation. Collateralized debt and loan obligations The Group engages in CDO/CLO transactions to meet client and investor needs, earn fees and sell financial assets and, in the case of CLOs, loans. The Group may act as underwriter, placement agent or asset manager and may warehouse assets prior to the closing of a transaction. Commercial paper conduit The Group acts as the administrator and provider of liquidity and credit enhancement facilities for Alpine Securitization Ltd (Alpine), a multi-seller asset-backed CP conduit used for client and Group financing purposes. Alpine discloses to CP investors certain portfolio and asset data and submits its portfolio to rating agencies for public ratings. 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 be required to purchase assets from these entities to provide them with liquidity and credit support. The financing transactions are structured to provide credit support 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 Alpine’s outstanding CP was approximately 114 days as of the end of 2Q19. Alpine was rated A-1(sf) by Standard & Poor’s and P-1(sf) by Moody’s and had exposures mainly in reverse repurchase agreements with a Group entity, consumer loans, car loans and leases, small business loans and commercial leases. 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 provide short-term financing to the CP conduit or 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 2Q19 and 4Q18. Consolidated VIEs in which the Group was the primary beneficiary Financial intermediation CDO/ CP Securi- 2Q19 (CHF million) Cash and due from banks 10 0 184 30 41 9 274 Trading assets 76 0 1,682 315 922 15 3,010 Other investments 0 0 0 309 1,085 277 1,671 Net loans 0 0 53 1 26 243 323 Other assets 0 21 859 10 82 979 1,951 of which loans held-for-sale 0 0 235 0 0 0 235 of which premises and equipment 0 0 0 0 37 0 37 Total assets of consolidated VIEs 86 21 2,778 665 2,156 1,523 7,229 Trading liabilities 0 0 0 0 6 0 6 Short-term borrowings 0 4,828 0 0 0 0 4,828 Long-term debt 12 0 1,844 171 10 34 2,071 Other liabilities 0 54 2 2 94 162 314 Total liabilities of consolidated VIEs 12 4,882 1,846 173 110 196 7,219 4Q18 (CHF million) Cash and due from banks 15 1 68 17 52 20 173 Trading assets 72 0 1,602 418 944 12 3,048 Other investments 0 0 0 153 1,073 279 1,505 Net loans 0 0 119 0 23 245 387 Other assets 57 16 863 4 72 1,037 2,049 of which loans held-for-sale 57 0 107 0 3 0 167 of which premises and equipment 0 0 0 0 39 0 39 Total assets of consolidated VIEs 144 17 2,652 592 2,164 1,593 7,162 Trading liabilities 0 0 0 0 3 0 3 Short-term borrowings 0 5,465 0 0 0 0 5,465 Long-term debt 48 0 1,487 174 26 29 1,764 Other liabilities 0 43 1 8 98 127 277 Total liabilities of consolidated VIEs 48 5,508 1,488 182 127 156 7,509 Non-consolidated VIEs The non-consolidated VIEs table provides the carrying amounts and classification of the assets of variable interests recorded in the Group’s consolidated balance sheets, maximum exposure to loss and total assets of the non-consolidated VIEs. Certain VIEs have not been included in the following table, including VIEs structured by third parties in which the Group’s interest is in the form of securities held in the Group’s inventory, certain repurchase financings to funds and single-asset financing vehicles not sponsored by the Group to which the Group provides financing but has very little risk of loss due to over-collateralization and/or guarantees, failed sales where the Group does not have any other holdings and other entities out of scope. > Refer to “Variable interest entities” in VI – Consolidated financial statements – Credit Suisse Group – Note 34 – Transfer of financial assets and variable interest entities in the Credit Suisse Annual Report 2018 for further information on non-consolidated VIEs. Non-consolidated VIEs Financial intermediation CDO/ Securi- 2Q19 (CHF million) Trading assets 206 4,970 835 148 2,150 8,309 Net loans 655 1,373 2,205 7,637 326 12,196 Other assets 0 74 455 1 454 984 Total variable interest assets 861 6,417 3,495 7,786 2,930 21,489 Maximum exposure to loss 861 7,801 3,495 11,169 3,541 26,867 Total assets of non-consolidated VIEs 6,318 103,256 102,841 23,202 28,526 264,143 4Q18 (CHF million) Trading assets 209 4,527 927 183 3,703 9,549 Net loans 154 1,475 1,591 5,246 430 8,896 Other assets 3 19 120 0 444 586 Total variable interest assets 366 6,021 2,638 5,429 4,577 19,031 Maximum exposure to loss 366 7,637 2,653 8,680 5,150 24,486 Total assets of non-consolidated VIEs 7,033 96,483 68,258 20,804 31,336 223,914 |
Bank | |
Transfers of financial assets and variable interest entities | 29 Transfers of financial assets and variable interest entities > Refer to “Note 30 – Transfers of financial assets and variable interest entities“ in III – Condensed consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q19 and “Note 33 – Transfers of financial assets and variable interest entities“ in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2018 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 6M19 and 6M18 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 6M19 6M18 Gains/(losses) and cash flows (CHF million) CMBS Net gain/(loss) 1 (1) 7 Proceeds from transfer of assets 3,632 3,568 Cash received on interests that continue to be held 19 23 RMBS Net gain/(loss) 1 (4) (4) Proceeds from transfer of assets 8,045 16,765 Purchases of previously transferred financial assets or its underlying collateral (1) (1) Servicing fees 1 1 Cash received on interests that continue to be held 116 406 Other asset-backed financings Net gain 1 48 58 Proceeds from transfer of assets 4,801 3,950 Purchases of previously transferred financial assets or its underlying collateral (389) (232) Fees 2 74 67 Cash received on interests that continue to be held 3 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 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 6M19 and 2018, regardless of when the transfer of assets occurred. Principal amounts outstanding and total assets of SPEs resulting from continuing involvement end of 6M19 2018 CHF million CMBS Principal amount outstanding 21,607 25,330 Total assets of SPE 31,491 35,760 RMBS Principal amount outstanding 48,923 40,253 Total assets of SPE 49,857 41,242 Other asset-backed financings Principal amount outstanding 22,782 23,036 Total assets of SPE 47,272 47,542 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 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 6M19 6M18 at time of transfer, in CMBS RMBS CMBS RMBS CHF million, except where indicated Fair value of beneficial interests 281 885 463 2,626 of which level 2 264 826 463 2,542 of which level 3 17 59 0 84 Weighted-average life, in years 4.1 4.7 5.7 7.6 Prepayment speed assumption (rate per annum), in % 1 – 2 2.0 – 37.3 – 2 5.5 – 13.5 Cash flow discount rate (rate per annum), in % 3 2.5 – 8.3 2.3 – 11.6 3.6 – 9.8 3.0 – 13.2 Expected credit losses (rate per annum), in % 4 1.3 – 5.8 1.7 – 3.4 1.8 – 1.8 2.8 – 5.5 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 6M19 and 2018. Key economic assumptions used in measuring fair value of beneficial interests held in SPEs 6M19 2018 1 Other asset- 2 1 Other asset- 2 CHF million, except where indicated Fair value of beneficial interests 583 1,439 1,154 805 2,006 226 of which non-investment grade 176 209 20 112 307 26 Weighted-average life, in years 3.7 5.0 1.7 5.7 7.9 5.6 Prepayment speed assumption (rate per annum), in % 3 – 3.0 – 37.3 – – 2.0 – 20.0 – Impact on fair value from 10% adverse change – (25.5) – – (22.3) – Impact on fair value from 20% adverse change – (49.1) – – (43.2) – Cash flow discount rate (rate per annum), in % 4 2.4 – 23.6 2.0 – 30.5 0.8 – 21.2 3.4 – 14.3 3.0 – 21.3 1.0 – 21.2 Impact on fair value from 10% adverse change (8.1) (23.8) (4.2) (20.7) (52.1) (2.9) Impact on fair value from 20% adverse change (15.8) (46.5) (9.4) (37.6) (101.3) (5.7) Expected credit losses (rate per annum), in % 5 0.5 – 5.8 1.0 – 28.7 0.9 – 21.2 0.8 – 4.7 0.6 – 18.8 1.0 – 21.2 Impact on fair value from 10% adverse change (4.9) (14.1) (2.8) (10.2) (23.8) (2.4) Impact on fair value from 20% adverse change (9.7) (27.6) (6.2) (17.3) (46.7) (4.8) 1 To deter prepayment, commercial mortgage loans typically have prepayment protection in the form of prepayment lockouts and yield maintenances. 2 CDOs within this category are generally structured to be protected from prepayment risk. 3 PSA is an industry standard prepayment speed metric used for projecting prepayments over the life of a residential mortgage loan. PSA utilizes the CPR assumptions. A 100% prepayment assumption assumes a prepayment rate of 0.2% per annum of the outstanding principal balance of mortgage loans in the first month. This increases by 0.2 percentage points thereafter during the term of the mortgage loan, leveling off to a CPR of 6% per annum beginning in the 30th month and each month thereafter during the term of the mortgage loan. 100 PSA equals 6 CPR. 4 The rate was based on the weighted-average yield on the beneficial interests. 5 The range of expected credit losses only reflects instruments with an expected credit loss greater than zero unless all of the instruments have an expected credit loss of zero. Transfers of financial assets where sale treatment was not achieved The following table provides the carrying amounts of transferred financial assets and the related liabilities where sale treatment was not achieved as of the end of 6M19 and 2018. > Refer to “Note 31 – Assets pledged and collateral” for information on assets pledged or assigned. Carrying amounts of transferred financial assets and liabilities where sale treatment was not achieved end of 6M19 2018 CHF million Other asset-backed financings Trading assets 276 255 Liability to SPE, included in other liabilities (276) (255) 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 6M19 and 2018. Securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral – by class of collateral pledged end of 6M19 2018 CHF billion Government debt securities 16.2 31.1 Corporate debt securities 10.2 9.6 Asset-backed securities 1.9 1.8 Other 0.2 0.2 Securities sold under repurchase agreements 28.5 42.7 Government debt securities 0.5 1.4 Corporate debt securities 0.2 0.2 Equity securities 4.1 3.2 Other 0.1 0.2 Securities lending transactions 4.9 5.0 Government debt securities 2.8 3.6 Corporate debt securities 1.2 1.0 Asset-backed securities 0.1 0.1 Equity securities 41.3 37.0 Obligation to return securities received as collateral, at fair value 45.4 41.7 Total 78.8 89.4 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 6M19 (CHF billion) Securities sold under repurchase agreements 7.2 14.2 4.5 2.6 28.5 Securities lending transactions 4.8 0.1 0.0 0.0 4.9 Obligation to return securities received as collateral, at fair value 45.4 0.0 0.0 0.0 45.4 Total 57.4 14.3 4.5 2.6 78.8 2018 (CHF billion) Securities sold under repurchase agreements 7.4 26.3 6.7 2.3 42.7 Securities lending transactions 4.1 0.9 0.0 0.0 5.0 Obligation to return securities received as collateral, at fair value 41.4 0.1 0.2 0.0 41.7 Total 52.9 27.3 6.9 2.3 89.4 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 Commercial paper conduit The Bank acts as the administrator and provider of liquidity and credit enhancement facilities for Alpine Securitization Ltd (Alpine), a multi-seller asset-backed CP conduit used for client and Bank financing purposes. Alpine discloses to CP investors certain portfolio and asset data and submits its portfolio to rating agencies for public ratings. 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 be required to purchase assets from these entities to provide them with liquidity and credit support. The financing transactions are structured to provide credit support 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 114 days as of the end of 6M19. Alpine was rated A-1(sf) by Standard & Poor’s and P-1(sf) by Moody’s and had exposures mainly in had exposures mainly in reverse repurchase agreements with a Group entity, consumer loans, car loans and leases, small business loans and commercial leases. 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 provide short-term financing to the CP conduit or 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 6M19 and 2018. Consolidated VIEs in which the Bank was the primary beneficiary Financial intermediation CDO/ CP Securi- 6M19 (CHF million) Cash and due from banks 10 0 184 30 41 9 274 Trading assets 76 0 1,682 315 922 15 3,010 Other investments 0 0 0 309 1,085 277 1,671 Net loans 0 0 53 1 26 243 323 Other assets 0 21 859 10 61 979 1,930 of which loans held-for-sale 0 0 235 0 0 0 235 of which premises and equipment 0 0 0 0 17 0 17 Total assets of consolidated VIEs 86 21 2,778 665 2,135 1,523 7,208 Trading liabilities 0 0 0 0 6 0 6 Short-term borrowings 0 4,828 0 0 0 0 4,828 Long-term debt 12 0 1,844 171 10 34 2,071 Other liabilities 0 54 2 2 94 161 313 Total liabilities of consolidated VIEs 12 4,882 1,846 173 110 195 7,218 2018 (CHF million) Cash and due from banks 15 1 68 17 52 20 173 Trading assets 72 0 1,602 1 418 944 12 3,048 Other investments 0 0 0 153 1,073 279 1,505 Net loans 0 0 119 0 23 245 387 Other assets 57 16 863 4 50 1,037 2,027 of which loans held-for-sale 57 0 107 0 3 0 167 of which premises and equipment 2 0 0 0 0 18 0 18 Total assets of consolidated VIEs 144 17 2,652 592 2,142 1,593 7,140 Trading liabilities 0 0 0 0 3 0 3 Short-term borrowings 0 5,465 0 0 0 0 5,465 Long-term debt 48 0 1,487 174 26 29 1,764 Other liabilities 0 43 1 8 98 127 277 Total liabilities of consolidated VIEs 48 5,508 1,488 182 127 156 7,509 1 Includes residential and commercial mortgage-backed securities previously reported in investment securities which have been reclassified to trading assets as these securities are carried at fair value under the fair value option. 2 Premises and equipment were previously presented separately in the consolidated balance sheet. 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- 6M19 (CHF million) Trading assets 206 4,970 835 148 2,150 8,309 Net loans 655 1,373 2,205 7,637 326 12,196 Other assets 0 74 447 1 454 976 Total variable interest assets 861 6,417 3,487 7,786 2,930 21,481 Maximum exposure to loss 861 7,801 3,488 11,169 3,541 26,860 Total assets of non-consolidated VIEs 6,318 103,256 100,934 23,202 6,195 239,905 2018 (CHF million) Trading assets 209 4,527 927 183 3,703 9,549 Net loans 154 1,475 1,591 5,246 430 8,896 Other assets 3 19 112 0 444 578 Total variable interest assets 366 6,021 2,630 5,429 4,577 19,023 Maximum exposure to loss 366 7,637 2,645 8,680 5,150 24,478 Total assets of non-consolidated VIEs 7,033 96,483 65,848 20,804 8,784 198,952 |
Financial instruments
Financial instruments | 6 Months Ended |
Jun. 30, 2019 | |
Financial instruments | 31 Financial instruments The disclosure of the Group’s financial instruments below includes the following sections: ■ ■ ■ ■ Concentrations of credit risk Credit risk concentrations arise when a number of counterparties are engaged in similar business activities, are located in the same geographic region or when there are similar economic features that would cause their ability to meet contractual obligations to be similarly impacted by changes in economic conditions. > Refer to “Note 35 – Financial instruments” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2018 for further information on the Group’s concentrations of credit risk. Fair value measurement A significant portion of the Group’s financial instruments is carried at fair value. Deterioration of financial markets could significantly impact the fair value of these financial instruments and the results of operations. > Refer to “Note 35 – Financial instruments” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2018 for further information on fair value measurement of financial instruments and the definition of the levels of the fair value hierarchy. Qualitative disclosures of valuation techniques Information on the valuation techniques and significant unobservable inputs of the various financial instruments and the sensitivity of fair value measurements to changes in significant unobservable inputs, should be read in conjunction with the tables “Quantitative information about level 3 assets at fair value” and “Quantitative information about level 3 liabilities at fair value”. > Refer to “Note 35 – Financial instruments” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2018 for further information on the Group’s valuation techniques. Assets and liabilities measured at fair value on a recurring basis 1 Assets 2 Assets (CHF million) Cash and due from banks 0 172 0 – – 172 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 0 82,286 0 – – 82,286 Securities received as collateral 42,346 3,028 4 – – 45,378 Trading assets 82,028 170,625 7,652 (115,691) 999 145,613 of which debt securities 22,075 40,669 1,711 – 13 64,468 of which foreign governments 21,404 4,879 206 – – 26,489 of which corporates 590 12,010 901 – 13 13,514 of which RMBS 0 19,538 345 – – 19,883 of which equity securities 51,596 3,580 155 – 986 56,317 of which derivatives 6,632 125,586 3,034 (115,691) – 19,561 of which interest rate products 2,104 77,210 512 – – – of which foreign exchange products 144 22,906 225 – – – of which equity/index-related products 4,381 18,520 752 – – – of which credit derivatives 0 6,432 653 – – – of which other derivatives 0 115 892 – – – of which other trading assets 1,725 790 2,752 – – 5,267 Investment securities 2 1,396 0 – – 1,398 Other investments 16 11 1,369 – 1,178 2,574 of which life finance instruments 0 1 1,085 – – 1,086 Loans 0 8,674 4,163 – – 12,837 of which commercial and industrial loans 0 3,561 1,618 – – 5,179 of which financial institutions 0 2,705 1,227 – – 3,932 of which government and public institutions 0 2,175 605 – – 2,780 of which real estate 0 233 687 – – 920 Other intangible assets (mortgage servicing rights) 0 0 162 – – 162 Other assets 102 6,650 1,718 (275) – 8,195 of which loans held-for-sale 0 4,880 1,449 – – 6,329 Total assets at fair value 124,494 272,842 15,068 (115,966) 2,177 298,615 1 Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements. 2 In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value Assets and liabilities measured at fair value on a recurring basis (continued) 1 Liabilities 2 Liabilities (CHF million) Due to banks 0 281 0 – – 281 Customer deposits 0 2,482 495 – – 2,977 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 0 9,195 0 – – 9,195 Obligation to return securities received as collateral 42,346 3,028 4 – – 45,378 Trading liabilities 30,153 129,008 3,419 (119,226) 2 43,356 of which debt securities 6,034 5,533 6 – – 11,573 of which foreign governments 5,957 381 0 – – 6,338 of which equity securities 16,783 110 53 – 2 16,948 of which derivatives 7,336 123,365 3,360 (119,226) – 14,835 of which interest rate products 2,195 71,223 216 – – – of which foreign exchange products 101 27,648 133 – – – of which equity/index-related products 5,035 16,698 1,449 – – – of which credit derivatives 0 7,362 1,097 – – – Short-term borrowings 0 9,240 997 – – 10,237 Long-term debt 0 57,959 13,689 – – 71,648 of which structured notes over one year and up to two years 0 8,046 880 – – 8,926 of which structured notes over two years 0 29,535 12,511 – – 42,046 of which high-trigger instruments 0 5,735 4 – – 5,739 Other liabilities 0 6,575 1,247 (209) – 7,613 Total liabilities at fair value 72,499 217,768 19,851 (119,435) 2 190,685 1 Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements. 2 In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value Assets and liabilities measured at fair value on a recurring basis (continued) 1 Assets 2 Assets (CHF million) Cash and due from banks 0 115 0 – – 115 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 0 81,818 0 – – 81,818 Securities received as collateral 37,962 3,704 30 – – 41,696 Trading assets 76,124 157,332 8,980 (109,927) 1,126 133,635 of which debt securities 23,726 37,587 2,242 – 12 63,567 of which foreign governments 23,547 4,542 232 – – 28,321 of which corporates 66 7,984 1,260 – 12 9,322 of which RMBS 0 20,919 432 – – 21,351 of which equity securities 42,758 2,459 132 – 1,114 46,463 of which derivatives 7,999 116,942 3,298 (109,927) – 18,312 of which interest rate products 3,557 65,823 507 – – – of which foreign exchange products 25 27,526 258 – – – of which equity/index-related products 4,415 17,967 1,054 – – – of which credit derivatives 0 4,739 673 – – – of which other derivatives 1 633 806 – – – of which other trading assets 1,641 344 3,308 – – 5,293 Investment securities 2 1,477 0 – – 1,479 Other investments 14 7 1,309 – 1,104 2,434 of which life finance instruments 0 0 1,067 – – 1,067 Loans 0 10,549 4,324 – – 14,873 of which commercial and industrial loans 0 3,976 1,949 – – 5,925 of which financial institutions 0 4,164 1,391 – – 5,555 of which real estate 0 146 515 – – 661 Other intangible assets (mortgage servicing rights) 0 0 163 – – 163 Other assets 117 5,807 1,543 (204) – 7,263 of which loans held-for-sale 0 4,238 1,235 – – 5,473 Total assets at fair value 114,219 260,809 16,349 (110,131) 2,230 283,476 1 Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements. 2 In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value Assets and liabilities measured at fair value on a recurring basis (continued) 1 Liabilities 2 Liabilities (CHF million) Due to banks 0 406 0 – – 406 Customer deposits 0 2,839 453 – – 3,292 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 0 14,828 0 – – 14,828 Obligation to return securities received as collateral 37,962 3,704 30 – – 41,696 Trading liabilities 31,940 123,615 3,589 (116,985) 10 42,169 of which debt securities 4,460 3,511 25 – – 7,996 of which foreign governments 4,328 255 0 – – 4,583 of which equity securities 18,785 118 37 – 10 18,950 of which derivatives 8,695 119,986 3,527 (116,985) – 15,223 of which interest rate products 3,699 62,649 189 – – – of which foreign exchange products 32 31,983 160 – – – of which equity/index-related products 4,961 19,590 1,500 – – – of which credit derivatives 0 5,485 1,140 – – – Short-term borrowings 0 7,284 784 – – 8,068 Long-term debt 0 51,270 12,665 – – 63,935 of which structured notes over one year and up to two years 0 7,242 528 – – 7,770 of which structured notes over two years 0 28,215 11,800 – – 40,015 Other liabilities 0 7,881 1,341 (221) – 9,001 Total liabilities at fair value 69,902 211,827 18,862 (117,206) 10 183,395 1 Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements. 2 In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value Assets and liabilities measured at fair value on a recurring basis for level 3 Accumulated other Foreign Assets (CHF million) Securities received as collateral 30 0 0 0 (26) 0 0 0 0 0 0 0 0 0 4 Trading assets 8,980 705 (1,697) 8,831 (9,435) 556 (838) (75) 721 0 0 0 0 (96) 7,652 of which debt securities 2,242 484 (874) 1,597 (1,777) 0 0 16 50 0 0 0 0 (27) 1,711 of which foreign governments 232 0 (43) 68 (56) 0 0 3 3 0 0 0 0 (1) 206 of which corporates 1,260 384 (568) 1,055 (1,234) 0 0 16 6 0 0 0 0 (18) 901 of which RMBS 432 52 (216) 421 (379) 0 0 (1) 41 0 0 0 0 (5) 345 of which equity securities 132 39 (37) 57 (38) 0 0 0 4 0 0 0 0 (2) 155 of which derivatives 3,298 140 (417) 0 0 556 (818) (88) 405 0 0 0 0 (42) 3,034 of which interest rate products 507 23 (9) 0 0 52 (42) 2 (6) 0 0 0 0 (15) 512 of which foreign exchange derivatives 258 11 (10) 0 0 8 (9) 0 (30) 0 0 0 0 (3) 225 of which equity/index-related products 1,054 48 (333) 0 0 199 (259) (84) 133 0 0 0 0 (6) 752 of which credit derivatives 673 58 (65) 0 0 150 (360) (7) 211 0 0 0 0 (7) 653 of which other derivatives 806 0 0 0 0 147 (148) 1 97 0 0 0 0 (11) 892 of which other trading assets 3,308 42 (369) 7,177 (7,620) 0 (20) (3) 262 0 0 0 0 (25) 2,752 Other investments 1,309 48 (5) 33 (110) 0 0 0 100 0 6 0 0 (12) 1,369 of which life finance instruments 1,067 0 0 20 (88) 0 0 0 96 0 0 0 0 (10) 1,085 Loans 4,324 296 (320) 19 (190) 769 (726) 8 20 0 0 0 0 (37) 4,163 of which commercial and industrial loans 1,949 81 (184) 19 (118) 76 (198) 5 1 0 0 0 0 (13) 1,618 of which financial institutions 1,391 215 0 0 (71) 185 (503) (1) 15 0 0 0 0 (4) 1,227 of which government and public institutions 446 0 (58) 0 (1) 248 (14) 3 (9) 0 0 0 0 (10) 605 of which real estate 515 0 (78) 0 0 260 (11) 1 10 0 0 0 0 (10) 687 Other intangible assets (mortgage servicing rights) 163 0 0 9 0 0 0 0 0 0 (7) 0 0 (3) 162 Other assets 1,543 102 (178) 938 (808) 290 (178) 0 24 0 0 0 0 (15) 1,718 of which loans held-for-sale 1,235 96 (125) 903 (805) 290 (178) 1 45 0 0 0 0 (13) 1,449 Total assets at fair value 16,349 1,151 (2,200) 9,830 (10,569) 1,615 (1,742) (67) 865 0 (1) 0 0 (163) 15,068 Liabilities (CHF million) Customer deposits 453 0 0 0 0 0 0 0 31 0 0 0 32 (21) 495 Obligation to return securities received as collateral 30 0 0 0 (26) 0 0 0 0 0 0 0 0 0 4 Trading liabilities 3,589 195 (405) 388 (402) 1,091 (1,483) 81 400 0 0 0 0 (35) 3,419 of which debt securities 25 9 (8) 12 (32) 0 0 0 0 0 0 0 0 0 6 of which equity securities 37 9 0 376 (368) 0 0 0 (1) 0 0 0 0 0 53 of which derivatives 3,527 177 (397) 0 (2) 1,091 (1,483) 81 401 0 0 0 0 (35) 3,360 of which interest rate derivatives 189 5 (2) 0 0 21 (17) 0 23 0 0 0 0 (3) 216 of which foreign exchange derivatives 160 14 (10) 0 0 2 (24) (1) (9) 0 0 0 0 1 133 of which equity/index-related derivatives 1,500 77 (303) 0 0 380 (504) 78 239 0 0 0 0 (18) 1,449 of which credit derivatives 1,140 81 (81) 0 0 551 (782) 4 195 0 0 0 0 (11) 1,097 Short-term borrowings 784 122 (178) 0 0 789 (686) 6 175 0 0 0 0 (15) 997 Long-term debt 12,665 2,095 (2,607) 0 0 2,715 (2,334) 101 1,224 0 0 4 (7) (167) 13,689 of which structured notes over one year and up to two years 528 315 (228) 0 0 544 (345) 11 58 0 0 0 9 (12) 880 of which structured notes over two years 11,800 1,765 (2,123) 0 0 1,959 (1,954) 77 1,148 0 0 4 (15) (150) 12,511 of which high-trigger instruments 6 0 0 0 0 (2) 0 0 0 0 0 0 0 0 4 Other liabilities 1,341 37 (77) 35 (57) 75 (285) (6) 32 0 163 0 0 (11) 1,247 Total liabilities at fair value 18,862 2,449 (3,267) 423 (485) 4,670 (4,788) 182 1,862 0 163 4 25 (249) 19,851 Net assets/(liabilities) at fair value (2,513) (1,298) 1,067 9,407 (10,084) (3,055) 3,046 (249) (997) 0 (164) (4) (25) 86 (4,783) 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. Assets and liabilities measured at fair value on a recurring basis for level 3 Accumulated other Foreign Assets (CHF million) Securities received as collateral 46 0 (15) 58 (80) 0 0 0 0 0 0 0 0 0 9 Trading assets 1 8,796 743 (695) 24,222 (25,127) 786 (826) (37) (137) 0 (4) 0 0 27 7,748 of which debt securities 2,334 514 (429) 1,656 (1,568) 0 (157) (10) (22) 0 (4) 0 0 0 2,314 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 360 161 (124) 442 (174) 0 (157) (1) 79 0 0 0 0 11 597 of which CMBS 18 20 (1) 3 (13) 0 0 0 (5) 0 0 0 0 0 22 of which CDO 126 14 (13) 16 (36) 0 0 0 (1) 0 0 0 0 2 108 of which equity securities 163 40 (22) 39 (81) 0 0 (3) 45 0 (1) 0 0 2 182 of which 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 of which other trading assets 3,010 22 (62) 22,527 (23,478) 0 (18) 2 107 0 1 0 0 25 2,136 Other investments 1,601 0 (110) 136 (236) 0 0 0 (53) 0 2 0 0 8 1,348 of which other equity investments 300 0 (110) 49 (84) 0 0 0 (1) 0 2 0 0 (9) 147 of which life finance instruments 1,301 0 0 87 (152) 0 0 0 (52) 0 0 0 0 17 1,201 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 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 derivatives 3,169 187 (282) 1 (3) 926 (787) 2 (295) 0 0 0 0 30 2,948 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 Residential and commercial mortgage-backed securities that were previously reported in investment securities have been reclassified to trading assets as these securities are carried at fair value under the fair value option. Gains and losses on assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (level 3) 6M19 6M18 Trading Other Total Trading Other Total Gains and losses on assets and liabilities (CHF million) Net realized/unrealized gains/(losses) included in net revenues (1,246) (164) (1,410) 1 397 (116) 281 1 Whereof: Unrealized gains/(losses) relating to assets and liabilities still held as of the reporting date 2 (1,075) 109 (966) 27 3 30 1 Excludes net realized/unrealized gains/(losses) attributable to foreign currency translation impact. 2 Prior period has been corrected. Both observable and unobservable inputs may be used to determine the fair value of positions that have been classified within level 3. As a result, the unrealized gains and losses for assets and liabilities within level 3 presented in the table above may include changes in fair value that were attributable to both observable and unobservable inputs. The Group employs various economic hedging techniques in order to manage risks, including risks in level 3 positions. Such techniques may include the purchase or sale of financial instruments that are classified in levels 1 and/or 2. The realized and unrealized gains and losses for assets and liabilities in level 3 presented in the table above do not reflect the related realized or unrealized gains and losses arising on economic hedging instruments classified in levels 1 and/or 2. Transfers in and out of level 3 Transfers into level 3 assets during 6M19 were CHF 1,151 million, primarily from trading assets and loans. These transfers were primarily in the financing, equity derivatives and credit businesses due to limited observability of pricing data. Transfers out of level 3 assets during 6M19 were CHF 2,200 million, primarily in trading assets and loans. These transfers were primarily in the fixed income, equity derivatives 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 2Q19 were CHF 450 million, primarily from trading assets. These transfers were primarily in the financing, equity derivatives and credit businesses due to limited observability of pricing data. Transfers out of level 3 assets during 2Q19 were CHF 1,111 million, primarily in trading assets and loans. These transfers were primarily in the fixed income, financing and equity derivatives businesses due to increased observability of pricing data and increased availability of pricing information from external providers. Uncertainty of fair value measurements at the reporting date from the use of significant unobservable inputs For level 3 assets with significant unobservable inputs of buyback probability, contingent probability, correlation, funding spread, mortality rate, price, recovery rate, volatility or volatility skew, in general, an increase in the significant unobservable input would increase the fair value. For level 3 assets with significant unobservable inputs of credit spread, default rate, discount rate, gap risk, market implied life expectancy (for life settlement and premium finance instruments) or prepayment rate, in general, an increase in the significant unobservable input would decrease the fair value. For level 3 liabilities, in general, an increase in the related significant unobservable inputs would have an inverse impact on fair value. An increase in the significant unobservable inputs contingent probability, credit spread, gap risk or market implied life expectancy would increase the fair value. An increase in the significant unobservable inputs buyback probability, correlation, discount rate, fund gap risk, fund NAV, funding spread, mean reversion, mortality rate, prepayment rate, price or volatility would decrease the fair value. Interrelationships between significant unobservable inputs Except as noted above, there are no material interrelationships between the significant unobservable inputs for the financial instruments. As the significant unobservable inputs move independently, generally an increase or decrease in one significant unobservable input will have no impact on the other significant unobservable inputs. Quantitative disclosures of valuation techniques The following tables provide the representative range of minimum and maximum values and the associated weighted averages of each significant unobservable input for level 3 assets and liabilities by the related valuation technique most significant to the related financial instrument. Quantitative information about level 3 assets at fair value Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Securities received as collateral 4 – – – – – Trading assets 7,652 of which debt securities 1,711 of which foreign governments 206 Discounted cash flow Credit spread, in bp 140 140 140 of which corporates 901 of which 365 Market comparable Price, in % 0 126 91 of which 893 Option model Correlation, in % (80) 99 63 Volatility, in % 0 126 26 of which RMBS 345 Discounted cash flow Default rate, in % 0 10 3 Discount rate, in % 2 34 8 Loss severity, in % 0 100 64 Prepayment rate, in % 2 20 8 of which equity securities 155 of which 7 Market comparable Price, in % 10 12 11 of which 113 Vendor price Price, in actuals 0 498 8 of which derivatives 3,034 of which interest rate products 512 Option model Correlation, in % (3) 100 65 Prepayment rate, in % 1 17 8 Volatility skew, in % (4) 1 (2) of which foreign exchange products 225 of which 21 Discounted cash flow Contingent probability, in % 95 95 95 of which 162 Option model Correlation, in % 5 38 26 Prepayment rate, in % 22 26 24 Volatility, in % 78 90 85 of which equity/index-related products 752 Option model Buyback probability, in % 50 100 73 Correlation, in % (80) 99 66 Gap risk, in % 2 0 4 1 Volatility, in % 1 126 32 of which credit derivatives 653 Discounted cash flow Correlation, in % 97 97 97 Credit spread, in bp 1 1,121 165 Default rate, in % 2 20 4 Discount rate, in % 2 23 12 Funding spread, in % 0 1 0 Loss severity, in % 7 85 59 Prepayment rate, in % 0 8 5 Recovery rate, in % 0 45 23 of which 66 Market comparable Price, in % 84 108 97 of which other derivatives 892 Discounted cash flow Market implied life expectancy, in years 2 16 5 Mortality rate, in % 87 106 101 of which other trading assets 2,752 of which 912 Discounted cash flow Market implied life expectancy, in years 2 15 7 of which 1,585 Market comparable Price, in % 0 120 25 of which 255 Option model Mortality rate, in % 0 70 6 1 Cash instruments are generally presented on a weighted average basis, while certain derivative instruments either contain a combination of weighted averages and arithmetic means of the related inputs or are presented on an arithmetic mean basis. 2 Risk of unexpected large declines in the underlying values occurring between collateral settlement dates. Quantitative information about level 3 assets at fair value (continued) Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Other investments 1,369 of which life finance instruments 1,085 Discounted cash flow Market implied life expectancy, in years 2 17 6 Loans 4,163 of which commercial and industrial loans 1,618 of which 1,313 Discounted cash flow Credit spread, in bp 165 1,699 547 Recovery rate, in % 25 25 25 of which 280 Market comparable Price, in % 0 94 52 of which financial institutions 1,227 of which 1,057 Discounted cash flow Credit spread, in bp 51 778 348 of which 100 Market comparable Price, in % 49 100 95 of which government and public institutions 605 of which 437 Discounted cash flow Credit spread, in bp 515 595 562 Recovery rate, in % 25 40 30 of which 167 Market comparable Price, in % 62 62 62 of which real estate 687 Discounted cash flow Credit spread, in bp 223 1,062 669 Recovery rate, in % 25 40 40 Other intangible assets (mortgage servicing rights) 162 – – – – – Other assets 1,718 of which loans held-for-sale 1,449 of which 545 Discounted cash flow Credit spread, in bp 112 3,020 387 Recovery rate, in % 25 87 37 of which 854 Market comparable Price, in % 0 175 82 Total level 3 assets at fair value 15,068 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 Securities received as collateral 30 – – – – – Trading assets 8,980 of which debt securities 2,242 of which foreign governments 232 Discounted cash flow Credit spread, in bp 140 140 140 of which corporates 1,260 of which 441 Market comparable Price, in % 0 118 94 of which 621 Option model Correlation, in % (60) 98 68 Volatility, in % 0 178 30 of which RMBS 432 Discounted cash flow Default rate, in % 0 11 3 Discount rate, in % 1 26 7 Loss severity, in % 0 100 63 Prepayment rate, in % 1 22 8 of which equity securities 132 of which 76 Market comparable EBITDA multiple 2 9 6 Price, in % 100 100 100 of which 49 Vendor price Price, in actuals 0 355 1 of which derivatives 3,298 of which interest rate products 507 Option model Correlation, in % 0 100 69 Prepayment rate, in % 1 26 9 Volatility skew, in % (4) 0 (2) of which foreign exchange products 258 of which 28 Discounted cash flow Contingent probability, in % 95 95 95 of which 218 Option model Correlation, in % (23) 70 24 Prepayment rate, in % 21 26 23 Volatility, in % 80 90 85 of which equity/index-related products 1,054 Option model Buyback probability, in % 50 100 74 Correlation, in % (40) 98 80 Gap risk, in % 2 0 4 1 Volatility, in % 2 178 34 of which credit derivatives 673 Discounted cash flow Correlation, in % 97 97 97 Credit spread, in bp 3 2,147 269 Default rate, in % 1 20 4 Discount rate, in % 3 28 15 Loss severity, in % 16 85 56 Prepayment rate, in % 0 12 6 Recovery rate, in % 0 68 8 of which other derivatives 806 Discounted cash flow Market implied life expectancy, in years 2 16 5 Mortality rate, in % 87 106 101 of which other trading assets 3,308 of which 870 Discounted cash flow Market implied life expectancy, in years 3 17 7 of which 2,119 Market comparable Price, in % 0 110 30 of which 249 Option model Mortality rate, in % 0 70 6 1 Cash instruments are generally presented on a weighted average basis, while certain derivative instruments either contain a combination of weighted averages and arithmetic means of the related inputs or are presented on an arithmetic mean basis. 2 Risk of unexpected large declines in the underlying values occurring between collateral settlement dates. Quantitative information about level 3 assets at fair value (continued) Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Other investments 1,309 of which life finance instruments 1,067 Discounted cash flow Market implied life expectancy, in years 2 17 6 Loans 4,324 of which commercial and industrial loans 1,949 of which 1,531 Discounted cash flow Credit spread, in bp 159 1,184 582 of which 306 Market comparable Price, in % 0 99 65 of which financial institutions 1,391 of which 1,157 Discounted cash flow Credit spread, in bp 88 1,071 596 of which 73 Market comparable Price, in % 1 100 74 of which real estate 515 Discounted cash flow Credit spread, in bp 200 1,522 612 Recovery rate, in % 25 40 39 Other intangible assets (mortgage servicing rights) 163 – – – – – Other assets 1,543 of which loans held-for-sale 1,235 of which 422 Discounted cash flow Credit spread, in bp 105 2,730 394 Recovery rate, in % 25 87 56 of which 739 Market comparable Price, in % 0 130 82 Total level 3 assets at fair value 16,349 1 Cash instruments are generally presented on a weighted average basis, while certain derivative instruments either contain a combination of weighted averages and arithmetic means of the related inputs or are presented on an arithmetic mean basis. Quantitative information about level 3 liabilities at fair value Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Customer deposits 495 Option model Correlation, in % (12) 100 73 Credit spread, in bp 70 103 98 Mean revision, in % 10 10 10 Obligation to return securities received as collateral 4 – – – – – Trading liabilities 3,419 of which debt securities 6 – – – – – of which equity securities 53 Vendor price Price, in actuals 0 66 2 of which derivatives 3,360 of which interest rate derivatives 216 Option model Correlation, in % (3) 100 42 Prepayment rate, in % 1 17 6 of which foreign exchange derivatives 133 of which 36 Discounted cash flow Contingent probability, in % 95 95 95 Credit spread, in bp 362 362 362 of which 24 Market comparable Price, in % 100 100 100 of which 57 Option model Correlation, in % 55 55 55 Prepayment rate, in % 22 26 24 of which equity/index-related derivatives 1,449 Option model Buyback probability, in % 2 50 100 73 Correlation, in % (80) 99 66 Volatility, in % 1 126 26 of which credit derivatives 1,097 of which 602 Discounted cash flow Correlation, in % 38 45 44 Credit spread, in bp 1 1,186 200 Default rate, in % 2 20 4 Discount rate, in % 2 22 12 Loss severity, in % 7 85 60 Prepayment rate, in % 0 8 5 Recovery rate, in % 20 60 34 of which 417 Market comparable Price, in % 82 107 97 of which 22 Option model Correlation, in % 49 49 49 Credit spread, in bp 23 1,114 236 Short-term borrowings 997 of which 79 Discounted cash flow Credit spread, in bp 853 1,146 1,020 Recovery rate, in % 40 40 40 of which 862 Option model Buyback probability, in % 50 100 73 Correlation, in % (80) 100 62 Fund gap risk, in % 3 0 4 1 Volatility, in % 1 126 36 Long-term debt 13,689 of which structured notes over one year and up to two years 880 of which 10 Discounted cash flow Credit spread, in bp (62) 118 (11) of which 851 Option model Buyback probability, in % 2 50 100 73 Correlation, in % (80) 99 65 Fund gap risk, in % 3 0 4 1 Volatility, in % 1 126 33 of which structured notes over two years 12,511 of which 1,565 Discounted cash flow Credit spread, in bp (41) 635 50 of which 26 Market comparable Price, in % 46 49 49 of which 10,485 Option model Buyback probability, in % 2 50 100 73 Correlation, in % (80) 99 63 Gap risk, in % 3 0 4 1 Mean reversion, in % 4 (55) 0 (5) Volatility, in % 0 126 25 of which high-trigger instruments 4 – – – – – Other liabilities 1,247 – – – – – Total level 3 liabilities at fair value 19,851 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 probability of structured notes being put back to the Group at the option of the investor over the remaining life of the financial instruments. 3 Risk of unexpected large declines in the underlying values occurring between collateral settlement dates. 4 Management's best estimate of the speed at which interest rates will revert to the long-term average. Quantitative information about level 3 liabilities at fair value (continued) Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Customer deposits 453 – – – – – Obligation to return securities received as collateral 30 – – – – – Trading liabilities 3,589 of which debt securities 25 – – – – – of which equity securities 37 Vendor price Price, in actuals 0 3 0 of which derivatives 3,527 of which interest rate derivatives 189 Option model Basis spread, in bp (20) 147 48 Correlation, in % 1 100 41 Prepayment rate, in % 1 26 7 of which foreign exchange derivatives 160 of which 62 Discounted cash flow Contingent probability, in % 95 95 95 Credit spread, in bp 146 535 379 of which 37 Market comparable Price, in % 100 100 100 of which 57 Option model Correlation, in % 35 70 53 Prepayment rate, in % 21 26 23 of which equity/index-related derivatives 1,500 Option model Buyback probability, in % 2 50 100 74 Correlation, in % (60) 98 74 Volatility, in % 0 178 30 of which credit derivatives 1,140 of which 566 Discounted cash flow Correlation, in % 38 82 47 Credit sprea |
Bank | |
Financial instruments | 30 Financial instruments > Refer to “Note 31 – Financial instruments” in III – Condensed consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q19 and to “Note 34 – Financial instruments” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2018 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 0 172 0 – – 172 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 0 82,286 0 – – 82,286 Securities received as collateral 42,346 3,028 4 – – 45,378 Trading assets 82,087 170,711 7,652 (115,691) 999 145,758 of which debt securities 22,075 40,756 1,711 – 13 64,555 of which foreign government 21,404 4,879 206 – – 26,489 of which corporates 590 12,096 901 – 13 13,600 of which RMBS 0 19,538 345 – – 19,883 of which equity securities 51,655 3,580 155 – 986 56,376 of which derivatives 6,632 125,586 3,034 (115,691) – 19,561 of which interest rate products 2,104 77,210 512 – – – of which foreign exchange products 144 22,906 225 – – – of which equity/index-related products 4,381 18,520 752 – – – of which credit derivatives 0 6,432 653 – – – of which other derivatives 0 115 892 – – – of which other trading assets 1,725 789 2,752 – – 5,266 Investment securities 0 1,396 0 – – 1,396 Other investments 16 11 1,369 – 1,176 2,572 of which life finance instruments 0 1 1,085 – – 1,086 Loans 0 8,674 4,163 – – 12,837 of which commercial and industrial loans 0 3,561 1,618 – – 5,179 of which financial institutions 0 2,705 1,227 – – 3,932 of which government and public institutions 0 2,175 605 – – 2,780 of which real estate 0 233 687 – – 920 Other intangible assets (mortgage servicing rights) 0 0 162 – – 162 Other assets 102 6,650 1,718 (275) – 8,195 of which loans held-for-sale 0 4,880 1,449 – – 6,329 Total assets at fair value 124,551 272,928 15,068 (115,966) 2,175 298,756 1 Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements. 2 In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value Assets and liabilities measured at fair value on a recurring basis (continued) 1 Liabilities 2 Liabilities (CHF million) Due to banks 0 281 0 – – 281 Customer deposits 0 2,482 495 – – 2,977 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 0 9,304 0 – – 9,304 Obligation to return securities received as collateral 42,346 3,028 4 – – 45,378 Trading liabilities 30,167 129,055 3,419 (119,273) 2 43,370 of which debt securities 6,035 5,533 6 – – 11,574 of which foreign government 5,957 381 0 – – 6,338 of which equity securities 16,796 110 53 – 2 16,961 of which derivatives 7,336 123,412 3,360 (119,273) – 14,835 of which interest rate products 2,195 71,270 216 – – – of which foreign exchange products 101 27,648 133 – – – of which equity/index-related products 5,035 16,698 1,449 – – – of which credit derivatives 0 7,362 1,097 – – – Short-term borrowings 0 9,240 997 – – 10,237 Long-term debt 0 56,877 13,826 – – 70,703 of which structured notes over one year and up to two years 0 8,046 880 – – 8,926 of which structured notes over two years 0 29,535 12,511 – – 42,046 of which high-trigger instruments 0 5,748 5 – – 5,753 Other liabilities 0 6,572 1,234 (209) – 7,597 Total liabilities at fair value 72,513 216,839 19,975 (119,482) 2 189,847 1 Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements. 2 In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value Assets and liabilities measured at fair value on a recurring basis (continued) 1 Assets 2 Assets (CHF million) Cash and due from banks 0 115 0 – – 115 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 0 81,818 0 – – 81,818 Securities received as collateral 37,962 3,704 30 – – 41,696 Trading assets 3 76,178 157,505 8,980 (109,930) 1,126 133,859 of which debt securities 23,726 37,668 2,242 – 12 63,648 of which foreign government 23,547 4,542 232 – – 28,321 of which corporates 66 8,065 1,260 – 12 9,403 of which RMBS 0 20,919 432 – – 21,351 of which equity securities 42,812 2,459 132 – 1,114 46,517 of which derivatives 8,000 117,034 3,298 (109,930) – 18,402 of which interest rate products 3,557 65,823 507 – – – of which foreign exchange products 25 27,526 258 – – – of which equity/index-related products 4,415 18,059 1,054 – – – of which credit derivatives 0 4,739 673 – – – of which other derivatives 2 633 806 – – – of which other trading assets 1,640 344 3,308 – – 5,292 Investment securities 3 0 1,477 0 – – 1,477 Other investments 14 7 1,309 – 1,100 2,430 of which life finance instruments 0 0 1,067 – – 1,067 Loans 0 10,549 4,324 – – 14,873 of which commercial and industrial loans 0 3,976 1,949 – – 5,925 of which financial institutions 0 4,164 1,391 – – 5,555 of which real estate 0 146 515 – – 661 Other intangible assets (mortgage servicing rights) 0 0 163 – – 163 Other assets 117 5,807 1,543 (204) – 7,263 of which loans held-for-sale 0 4,238 1,235 – – 5,473 Total assets at fair value 114,271 260,982 16,349 (110,134) 2,226 283,694 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 3 Residential and commercial mortgage-backed securities that were previously reported in investment securities have been reclassified to trading assets as these securities are carried at fair value under the fair value option. Assets and liabilities measured at fair value on a recurring basis (continued) 1 Liabilities 2 Liabilities (CHF million) Due to banks 0 406 0 – – 406 Customer deposits 0 2,839 453 – – 3,292 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 0 14,828 0 – – 14,828 Obligation to return securities received as collateral 37,962 3,704 30 – – 41,696 Trading liabilities 31,940 123,737 3,589 (117,105) 10 42,171 of which debt securities 4,462 3,511 25 – – 7,998 of which foreign government 4,328 255 0 – – 4,583 of which equity securities 18,785 118 37 – 10 18,950 of which derivatives 8,693 120,108 3,527 (117,105) – 15,223 of which interest rate products 3,699 62,573 189 – – – of which foreign exchange products 32 31,983 160 – – – of which equity/index-related products 4,961 19,788 1,500 – – – of which credit derivatives 0 5,485 1,140 – – – Short-term borrowings 0 7,284 784 – – 8,068 Long-term debt 0 50,356 12,671 – – 63,027 of which structured notes over one year and up to two years 0 7,242 528 – – 7,770 of which structured notes over two years 0 28,215 11,800 – – 40,015 Other liabilities 0 7,877 1,327 (221) – 8,983 Total liabilities at fair value 69,902 211,031 18,854 (117,326) 10 182,471 1 Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements. 2 In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value Assets and liabilities measured at fair value on a recurring basis for level 3 Accumulated other Foreign Assets (CHF million) Securities received as collateral 30 0 0 0 (26) 0 0 0 0 0 0 0 0 0 4 Trading assets 8,980 705 (1,697) 8,831 (9,435) 556 (838) (75) 721 0 0 0 0 (96) 7,652 of which debt securities 2,242 484 (874) 1,597 (1,777) 0 0 16 50 0 0 0 0 (27) 1,711 of which foreign governments 232 0 (43) 68 (56) 0 0 3 3 0 0 0 0 (1) 206 of which corporates 1,260 384 (568) 1,055 (1,234) 0 0 16 6 0 0 0 0 (18) 901 of which RMBS 432 52 (216) 421 (379) 0 0 (1) 41 0 0 0 0 (5) 345 of which equity securities 132 39 (37) 57 (38) 0 0 0 4 0 0 0 0 (2) 155 of which derivatives 3,298 140 (417) 0 0 556 (818) (88) 405 0 0 0 0 (42) 3,034 of which interest rate products 507 23 (9) 0 0 52 (42) 2 (6) 0 0 0 0 (15) 512 of which foreign exchange derivatives 258 11 (10) 0 0 8 (9) 0 (30) 0 0 0 0 (3) 225 of which equity/index-related products 1,054 48 (333) 0 0 199 (259) (84) 133 0 0 0 0 (6) 752 of which credit derivatives 673 58 (65) 0 0 150 (360) (7) 211 0 0 0 0 (7) 653 of which other derivatives 806 0 0 0 0 147 (148) 1 97 0 0 0 0 (11) 892 of which other trading assets 3,308 42 (369) 7,177 (7,620) 0 (20) (3) 262 0 0 0 0 (25) 2,752 Other investments 1,309 48 (5) 33 (110) 0 0 0 100 0 6 0 0 (12) 1,369 of which life finance instruments 1,067 0 0 20 (88) 0 0 0 96 0 0 0 0 (10) 1,085 Loans 4,324 296 (320) 19 (190) 769 (726) 8 20 0 0 0 0 (37) 4,163 of which commercial and industrial loans 1,949 81 (184) 19 (118) 76 (198) 5 1 0 0 0 0 (13) 1,618 of which financial institutions 1,391 215 0 0 (71) 185 (503) (1) 15 0 0 0 0 (4) 1,227 of which real estate 515 0 (78) 0 0 260 (11) 1 10 0 0 0 0 (10) 687 Other intangible assets (mortgage servicing rights) 163 0 0 9 0 0 0 0 0 0 (7) 0 0 (3) 162 Other assets 1,543 102 (178) 938 (808) 290 (178) 0 24 0 0 0 0 (15) 1,718 of which loans held-for-sale 1,235 96 (125) 903 (805) 290 (178) 1 45 0 0 0 0 (13) 1,449 Total assets at fair value 16,349 1,151 (2,200) 9,830 (10,569) 1,615 (1,742) (67) 865 0 (1) 0 0 (163) 15,068 Liabilities (CHF million) Customer deposits 453 0 0 0 0 0 0 0 31 0 0 0 32 (21) 495 Obligation to return securities received as collateral 30 0 0 0 (26) 0 0 0 0 0 0 0 0 0 4 Trading liabilities 3,589 195 (405) 388 (402) 1,091 (1,483) 81 400 0 0 0 0 (35) 3,419 of which debt securities 25 9 (8) 12 (32) 0 0 0 0 0 0 0 0 0 6 of which equity securities 37 9 0 376 (368) 0 0 0 (1) 0 0 0 0 0 53 of which derivatives 3,527 177 (397) 0 (2) 1,091 (1,483) 81 401 0 0 0 0 (35) 3,360 of which interest rate derivatives 189 5 (2) 0 0 21 (17) 0 23 0 0 0 0 (3) 216 of which foreign exchange derivatives 160 14 (10) 0 0 2 (24) (1) (9) 0 0 0 0 1 133 of which equity/index-related derivatives 1,500 77 (303) 0 0 380 (504) 78 239 0 0 0 0 (18) 1,449 of which credit derivatives 1,140 81 (81) 0 0 551 (782) 4 195 0 0 0 0 (11) 1,097 Short-term borrowings 784 122 (178) 0 0 789 (686) 6 175 0 0 0 0 (15) 997 Long-term debt 12,671 2,095 (2,483) 0 0 2,739 (2,334) 101 1,209 0 0 4 (7) (169) 13,826 of which structured notes over one year and up to two years 528 315 (228) 0 0 544 (345) 11 58 0 0 0 9 (12) 880 of which structured notes over two years 11,800 1,765 (2,123) 0 0 1,959 (1,954) 77 1,148 0 0 4 (15) (150) 12,511 of which high-trigger instruments 6 0 0 0 0 (1) 0 0 0 0 0 0 0 0 5 Other liabilities 1,327 37 (77) 35 (57) 75 (280) (6) 30 0 161 0 0 (11) 1,234 Total liabilities at fair value 18,854 2,449 (3,143) 423 (485) 4,694 (4,783) 182 1,845 0 161 4 25 (251) 19,975 Net assets/(liabilities) at fair value (2,505) (1,298) 943 9,407 (10,084) (3,079) 3,041 (249) (980) 0 (162) (4) (25) 88 (4,907) Assets and liabilities measured at fair value on a recurring basis for level 3 (continued) Accumulated other Foreign Assets (CHF million) Securities received as collateral 46 0 (15) 58 (80) 0 0 0 0 0 0 0 0 0 9 Trading assets 1 8,796 743 (695) 24,222 (25,127) 786 (826) (37) (137) 0 (4) 0 0 27 7,748 of which debt securities 2,334 514 (429) 1,656 (1,568) 0 (157) (10) (22) 0 (4) 0 0 0 2,314 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 360 161 (124) 442 (174) 0 (157) (1) 79 0 0 0 0 11 597 of which CMBS 18 20 (1) 3 (13) 0 0 0 (5) 0 0 0 0 0 22 of which CDO 126 14 (13) 16 (36) 0 0 0 (1) 0 0 0 0 2 108 of which equity securities 163 40 (22) 39 (81) 0 0 (3) 45 0 (1) 0 0 2 182 of which 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 of which other trading assets 3,010 22 (62) 22,527 (23,478) 0 (18) 2 107 0 1 0 0 25 2,136 Other investments 1,601 0 (109) 135 (236) 0 0 0 (53) 0 2 0 0 8 1,348 of which other equity investments 300 0 (109) 48 (84) 0 0 0 (1) 0 2 0 0 (9) 147 of which life finance instruments 1,301 0 0 87 (152) 0 0 0 (52) 0 0 0 0 17 1,201 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 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 derivatives 3,169 187 (282) 1 (3) 926 (787) 2 (295) 0 0 0 0 30 2,948 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 Residential and commercial mortgage-backed securities that were previously reported in investment securities have been reclassified to trading assets as these securities are carried at fair value under the fair value option. Gains and losses on assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (level 3) 6M19 6M18 Trading Other Total Trading Other Total Gains and losses on assets and liabilities (CHF million) Net realized/unrealized gains/(losses) included in net revenues (1,229) (162) (1,391) 1 418 (115) 303 1 Whereof: Unrealized gains/(losses) relating to assets and liabilities still held as of the reporting date 2 (1,074) 109 (965) 30 2 32 1 Excludes net realized/unrealized gains/(losses) attributable to foreign currency translation impact. 2 Prior period has been corrected. Quantitative information about level 3 assets at fair value Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Securities received as collateral 4 – – – – – Trading assets 7,652 of which debt securities 1,711 of which foreign governments 206 Discounted cash flow Credit spread, in bp 140 140 140 of which corporates 901 of which 365 Market comparable Price, in % 0 126 91 of which 893 Option model Correlation, in % (80) 99 63 Volatility, in % 0 126 26 of which RMBS 345 Discounted cash flow Default rate, in % 0 10 3 Discount rate, in % 2 34 8 Loss severity, in % 0 100 64 Prepayment rate, in % 2 20 8 of which equity securities 155 of which 7 Market comparable Price, in % 10 12 11 of which 113 Vendor price Price, in actuals 0 498 8 of which derivatives 3,034 of which interest rate products 512 Option model Correlation, in % (3) 100 65 Prepayment rate, in % 1 17 8 Volatility skew, in % (4) 1 (2) of which foreign exchange products 225 of which 21 Discounted cash flow Contingent probability, in % 95 95 95 of which 162 Option model Correlation, in % 5 38 26 Prepayment rate, in % 22 26 24 Volatility, in % 78 90 85 of which equity/index-related products 752 Option model Buyback probability, in % 50 100 73 Correlation, in % (80) 99 66 Gap risk, in % 2 0 4 1 Volatility, in % 1 126 32 of which credit derivatives 653 Discounted cash flow Correlation, in % 97 97 97 Credit spread, in bp 1 1,121 165 Default rate, in % 2 20 4 Discount rate, in % 2 23 12 Funding spread, in % 0 1 0 Loss severity, in % 7 85 59 Prepayment rate, in % 0 8 5 Recovery rate, in % 0 45 23 of which 66 Market comparable Price, in % 84 108 97 of which other derivatives 892 Discounted cash flow Market implied life expectancy, in years 2 16 5 Mortality rate, in % 87 106 101 of which other trading assets 2,752 of which 912 Discounted cash flow Market implied life expectancy, in years 2 15 7 of which 1,585 Market comparable Price, in % 0 120 25 of which 255 Option model Mortality rate, in % 0 70 6 1 Cash instruments are generally presented on a weighted average basis, while certain derivative instruments either contain a combination of weighted averages and arithmetic means of the related inputs or are presented on an arithmetic mean basis. 2 Risk of unexpected large declines in the underlying values occurring between collateral settlement dates. Quantitative information about level 3 assets at fair value (continued) Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Other investments 1,369 of which life finance instruments 1,085 Discounted cash flow Market implied life expectancy, in years 2 17 6 Loans 4,163 of which commercial and industrial loans 1,618 of which 1,313 Discounted cash flow Credit spread, in bp 165 1,699 547 Recovery rate, in % 25 25 25 of which 280 Market comparable Price, in % 0 94 52 of which financial institutions 1,227 of which 1,057 Discounted cash flow Credit spread, in bp 51 778 348 of which 100 Market comparable Price, in % 49 100 95 of which government and public institutions 605 of which 437 Discounted cash flow Credit spread, in bp 515 595 562 Recovery rate, in % 25 40 30 of which 167 Market comparable Price, in % 62 62 62 of which real estate 687 Discounted cash flow Credit spread, in bp 223 1,062 669 Recovery rate, in % 25 40 40 Other intangible assets (mortgage servicing rights) 162 – – – – – Other assets 1,718 of which loans held-for-sale 1,449 of which 545 Discounted cash flow Credit spread, in bp 112 3,020 387 Recovery rate, in % 25 87 37 of which 854 Market comparable Price, in % 0 175 82 Total level 3 assets at fair value 15,068 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 Securities received as collateral 30 – – – – – Trading assets 2 8,980 of which debt securities 2,242 of which foreign governments 232 Discounted cash flow Credit spread, in bp 140 140 140 of which corporates 1,260 of which 441 Market comparable Price, in % 0 118 94 of which 621 Option model Correlation, in % (60) 98 68 Volatility, in % 0 178 30 of which RMBS 432 Discounted cash flow Default rate, in % 0 11 3 Discount rate, in % 1 26 7 Loss severity, in % 0 100 63 Prepayment rate, in % 1 22 8 of which equity securities 132 of which 76 Market comparable EBITDA multiple 2 9 6 Price, in % 100 100 100 of which 49 Vendor price Price, in actuals 0 355 1 of which derivatives 3,298 of which interest rate products 507 Option model Correlation, in % 0 100 69 Prepayment rate, in % 1 26 9 Volatility skew, in % (4) 0 (2) of which foreign exchange products 258 of which 28 Discounted cash flow Contingent probability, in % 95 95 95 of which 218 Option model Correlation, in % (23) 70 24 Prepayment rate, in % 21 26 23 Volatility, in % 80 90 85 of which equity/index-related products 1,054 Option model Buyback probability, in % 50 100 74 Correlation, in % (40) 98 80 Gap risk, in % 3 0 4 1 Volatility, in % 2 178 34 of which credit derivatives 673 Discounted cash flow Correlation, in % 97 97 97 Credit spread, in bp 3 2,147 269 Default rate, in % 1 20 4 Discount rate, in % 3 28 15 Loss severity, in % 16 85 56 Prepayment rate, in % 0 12 6 Recovery rate, in % 0 68 8 of which other derivatives 806 Discounted cash flow Market implied life expectancy, in years 2 16 5 Mortality rate, in % 87 106 101 of which other trading assets 3,308 of which 870 Discounted cash flow Market implied life expectancy, in years 3 17 7 of which 2,119 Market comparable Price, in % 0 110 30 of which 249 Option model Mortality rate, in % 0 70 6 1 Cash instruments are generally presented on a weighted average basis, while certain derivative instruments either contain a combination of weighted averages and arithmetic means of the related inputs or are presented on an arithmetic mean basis. 2 Residential and commercial mortgage-backed securities that were previously reported in investment securities have been reclassified to trading assets as these securities are carried at fair value under the fair value option. 3 Risk of unexpected large declines in the underlying values occurring between collateral settlement dates. Quantitative information about level 3 assets at fair value (continued) Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Other investments 1,309 of which life finance instruments 1,067 Discounted cash flow Market implied life expectancy, in years 2 17 6 Loans 4,324 of which commercial and industrial loans 1,949 of which 1,531 Discounted cash flow Credit spread, in bp 159 1,184 582 of which 306 Market comparable Price, in % 0 99 65 of which financial institutions 1,391 of which 1,157 Discounted cash flow Credit spread, in bp 88 1,071 596 of which 73 Market comparable Price, in % 1 100 74 of which real estate 515 Discounted cash flow Credit spread, in bp 200 1,522 612 Recovery rate, in % 25 40 39 Other intangible assets (mortgage servicing rights) 163 – – – – – Other assets 1,543 of which loans held-for-sale 1,235 of which 422 Discounted cash flow Credit spread, in bp 105 2,730 394 Recovery rate, in % 25 87 56 of which 739 Market comparable Price, in % 0 130 82 Total level 3 assets at fair value 16,349 1 Cash instruments are generally presented on a weighted average basis, while certain derivative instruments either contain a combination of weighted averages and arithmetic means of the related inputs or are presented on an arithmetic mean basis. Quantitative information about level 3 liabilities at fair value Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Customer deposits 495 Option model Correlation, in % (12) 100 73 Credit spread, in bp 70 103 98 Mean revision, in % 10 10 10 Obligation to return securities received as collateral 4 – – – – – Trading liabilities 3,419 of which debt securities 6 – – – – – of which equity securities 53 Vendor price Price, in actuals 0 66 2 of which derivatives 3,360 of which interest rate derivatives 216 Option model Correlation, in % (3) 100 42 Prepayment rate, in % 1 17 6 of which foreign exchange derivatives 133 of which 36 Discounted cash flow Contingent probability, in % 95 95 95 Credit spread, in bp 362 362 362 of which 24 Market comparable Price, in % 100 100 100 of which 57 Option model Correlation, in % 55 55 55 Prepayment rate, in % 22 26 24 of which equity/index-related derivatives 1,449 Option model Buyback probability, in % 2 50 100 73 Correlation, in % (80) 99 66 Volatility, in % 1 126 26 of which credit derivatives 1,097 of which 602 Discounted cash flow Correlation, in % 38 45 44 Credit spread, in bp 1 1,186 200 Default rate, in % 2 20 4 Discount rate, in % 2 22 12 Loss severity, in % 7 85 60 Prepayment rate, in % 0 8 5 Recovery rate, in % 20 60 34 of which 417 Market comparable Price, in % 82 107 97 of which 22 Option model Correlation, in % 49 49 49 Credit spread, in bp 23 1,114 236 Short-term borrowings 997 of which 79 Discounted cash flow Credit spread, in bp 853 1,146 1,020 Recovery rate, in % 40 40 40 of which 862 Option model Buyback probability, in % 50 100 73 Correlation, in % (80) 100 62 Fund gap risk, in % 3 0 4 1 Volatility, in % 1 126 36 Long-term debt 13,826 of which structured notes over one year and up to two years 880 of which 10 Discounted cash flow Credit spread, in bp (62) 118 (11) of which 851 Option model Buyback probability, in % 2 50 100 73 Correlation, in % (80) 99 65 Fund gap risk, in % 3 0 4 1 Volatility, in % 1 126 33 of which structured notes over two years 12,511 of which 1,565 Discounted cash flow Credit spread, in bp (41) 635 50 of which 26 Market comparable Price, in % 46 49 49 of which 10,485 Option model Buyback probability, in % 2 50 100 73 Correlation, in % (80) 99 63 Gap risk, in % 3 0 4 1 Mean reversion, in % 4 (55) 0 (5) Volatility, in % 0 126 25 of which high-trigger instruments 5 – – – – – Other liabilities 1,234 – – – – – Total level 3 liabilities at fair value 19,975 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 occurring 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 453 – – – – – Obligation to return securities received as collateral 30 – – – – – Trading liabilities 3,589 of which debt securities 25 – – – – – of which equity securities 37 Vendor price Price, in actuals 0 3 0 of which derivatives 3,527 of which interest rate derivatives 189 Option model Basis spread, in bp (20) 147 48 Correlation, in % 1 100 41 Prepayment rate, in % 1 26 7 of which foreign exchange derivatives 160 of which 62 Discounted cash flow Contingent probability, in % 95 95 95 Credit spread, in bp 146 535 379 of which 37 Market comparable Price, in % 100 100 100 of which 57 Option model Correlation, in % 35 70 53 Prepayment rate, in % 21 26 23 of which equity/index-related derivatives 1,500 Option model Buyback probability, in % 2 50 100 74 Correlation, in % (60) 98 74 Volatility, in % 0 178 30 of which credit derivatives 1,140 of which 566 Discounted cash flow Correlation, in % 38 82 47 Credit spread, in bp 3 2,937 262 Default rate, in % 1 20 4 Discount rate, in % 3 28 14 Loss severity, in % 16 95 56 Prepayment rate, in % 0 12 6 Recovery rate, in % 0 80 14 of which 508 Market comparable Price, in % 75 104 89 of which 20 Option model Correlation, in % 50 50 50 Credit spread, in bp 35 1,156 320 Short-term borrowings 784 of which 61 Discounted cash flow Credit spread, in bp 1,018 1,089 1,067 Recovery rate, in % 40 40 40 of which 644 Option model Buyback probability, in % 50 100 74 Correlation, in % (40) 98 64 Fund gap risk, in % 3 0 4 1 Volatility, in % 2 178 32 Long-term debt 12,671 of which structured notes over one year and up to two years 528 of which 3 Discounted cash flow Credit spread, in bp 112 112 112 of which 427 Option model Correlation, in % (40) 98 71 Volatility, in % 2 178 31 of which structured notes over two years 11,800 of which 1,570 Discounted cash flow Credit spread, in bp (11) 1,089 136 of which 43 Market comparable Price, in % 0 46 30 of which 9,533 Option model Buyback probability, in % 2 50 100 74 Correlation, in % (60) 98 65 Gap risk, in % 3 0 4 1 Mean reversion, in % 4 (55) (1) (7) Volatility, in % 0 178 27 Other liabilities 1,327 – – – – – Total level 3 liabilities at fair value 18,854 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 occurring 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 of investment funds measured at NAV per share 6M19 2018 Unfunded Unfunded Fair value of investment funds and unfunded commitments (CHF million) Debt funds 13 0 13 0 12 0 12 0 Equity funds 62 924 1 986 59 103 1,011 2 1,114 53 Equity funds sold short 0 (2) (2) 0 (8) (2) (10) 0 Funds held in trading assets and trading liabilities 75 922 997 59 107 1,009 1,116 53 Debt funds 1 0 1 0 1 0 1 0 Equity funds 126 0 126 44 126 0 126 42 Real estate funds 201 0 201 29 214 0 214 34 Other private equity funds 36 11 47 27 24 5 29 29 Private equity funds 364 11 375 100 365 5 370 105 Debt funds 1 51 52 0 68 34 102 0 Equity funds 35 13 48 0 14 14 28 0 Other hedge funds 1 144 145 0 2 24 26 0 Hedge funds 37 208 3 245 0 84 72 4 156 0 Equity method investment funds 47 509 556 14 52 522 574 21 Funds held in other investments 448 728 1,176 114 501 599 1,100 126 Fair value of investment funds and unfunded commitments 523 5 1,650 2,173 173 608 5 1,608 2,216 179 6 1 49% of the redeemable fair value amount of equity funds is redeemable on demand with a notice period of less than 30 days, 41% is redeemable on a monthly basis with a notice period primarily of more than 30 days and 10% is redeemable on a quarterly basis with a notice period primarily of more than 60 days. 2 46% of the redeemable fair value amount of equity funds is redeemable on demand with a notice period primarily of less than 30 days, 40% is redeemable on a monthly basis with a notice period primarily of more than 30 days, 13% 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. 3 61% of the redeemable fair value amount of hedge funds is redeemable on a monthly basis with a notice period primarily of less than 30 days, 31% is redeemable on a quarterly basis with a notice period primarily of more than 45 days and 8% is redeemable on demand with a notice period primarily of less than 30 days. 4 65% 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 and 35% is redeemable on demand with a notice period primarily of less than 30 days. 5 Includes CHF 38 million and CHF 102 million attributable to noncontrolling interests as of the end of 6M19 and 2018, respectively. 6 Includes CHF 23 million attributable to noncontrolling interests. Difference between the fair value and the unpaid principal balances of fair value option-elected financial instruments 6M19 2018 Aggregate Aggregate Aggregate Aggregate Financial instruments (CHF million) Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 82,286 82,143 143 81,818 81,637 181 Loans 12,837 13,303 (466) 14,873 15,441 (568) Other assets 1 7,552 9,938 (2,386) 6,706 9,240 (2,534) Due to banks and customer deposits (604) (540) (64) (859) (778) (81) Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions (9,304) (9,305) 1 (14,828) (14,827) (1) Short-term borrowings (10,237) (10,310) 73 (8,068) (8,647) 579 Long-term debt (70,703) (73,217) 2,514 (63,027) (69,914) 6,887 Other liabilities (604) (1,589) 985 (2,068) (3,125) 1,057 Non-performing and non-interest-earning loans 2 720 3,395 (2,675) 640 3,493 (2,853) 1 Primarily loans |
Assets pledged and collateral
Assets pledged and collateral | 6 Months Ended |
Jun. 30, 2019 | |
Assets pledged and collateral | 32 Assets pledged and collateral The Group pledges assets mainly for repurchase agreements and other securities financing. Certain pledged assets may be encumbered, meaning they have the right to be sold or repledged. The encumbered assets are disclosed on the consolidated balance sheet. Assets pledged end of 2Q19 4Q18 CHF million Total assets pledged or assigned as collateral 121,960 117,895 of which encumbered 66,361 58,672 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 2Q19 4Q18 CHF million Fair value of collateral received with the right to sell or repledge 440,627 406,389 of which sold or repledged 196,524 193,267 |
Bank | |
Assets pledged and collateral | 31 Assets pledged and collateral > Refer to “Note 32 – Assets pledged and collateral” in III – Condensed consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q19 and to ”Note 35 – Assets pledged and collateral” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2018 for further information. Assets pledged end of 6M19 2018 CHF million Total assets pledged or assigned as collateral 121,960 117,895 of which encumbered 66,361 58,672 Collateral end of 6M19 2018 CHF million Fair value of collateral received with the right to sell or repledge 440,627 406,389 of which sold or repledged 196,524 193,267 |
Litigation
Litigation | 6 Months Ended |
Jun. 30, 2019 | |
Litigation | 33 Litigation The Group is involved in a number of judicial, regulatory and arbitration proceedings concerning matters arising in connection with the conduct of its businesses. The Group’s material proceedings, related provisions and estimate of the aggregate range of reasonably possible losses that are not covered by existing provisions are described in Note 39 – Litigation in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2018 The Group accrues loss contingency litigation provisions and takes a charge to income in connection with certain proceedings when losses, additional losses or ranges of loss are probable and reasonably estimable. The Group also accrues litigation provisions for the estimated fees and expenses of external lawyers and other service providers in relation to such proceedings, including in cases for which it has not accrued a loss contingency provision. The Group accrues these fee and expense litigation provisions and takes a charge to income in connection therewith when such fees and expenses are probable and reasonably estimable. The Group reviews its legal proceedings each quarter to determine the adequacy of its litigation provisions and may increase or release provisions based on management’s judgment and the advice of counsel. The establishment of additional provisions or releases of litigation provisions may be necessary in the future as developments in such proceedings warrant. The specific matters described include (a) proceedings where the Group has accrued a loss contingency provision, given that it is probable that a loss may be incurred and such loss is reasonably estimable; and (b) proceedings where the Group has not accrued such a loss contingency provision for various reasons, including, but not limited to, the fact that any related losses are not reasonably estimable. The description of certain of the matters includes a statement that the Group has established a loss contingency provision and discloses the amount of such provision; for the other matters no such statement is made. With respect to the matters for which no such statement is made, either (a) the Group has not established a loss contingency provision, in which case the matter is treated as a contingent liability under the applicable accounting standard, or (b) the Group has established such a provision but believes that disclosure of that fact would violate confidentiality obligations to which the Group is subject or otherwise compromise attorney-client privilege, work product protection or other protections against disclosure or compromise the Group’s management of the matter. The future outflow of funds in respect of any matter for which the Group has accrued loss contingency provisions cannot be determined with certainty based on currently available information, and accordingly may ultimately prove to be substantially greater (or may be less) than the provision that is reflected on the Group’s balance sheet. It is inherently difficult to determine whether a loss is probable or even reasonably possible or to estimate the amount of any loss or loss range for many of the Group’s legal proceedings. Estimates, by their nature, are based on judgment and currently available information and involve a variety of factors, including, but not limited to, the type and nature of the proceeding, the progress of the matter, the advice of counsel, the Group’s defenses and its experience in similar matters, as well as its assessment of matters, including settlements, involving other defendants in similar or related cases or proceedings. Factual and legal determinations, many of which are complex, must be made before a loss, additional losses or ranges of loss can be reasonably estimated for any proceeding. Most matters pending against the Group seek damages of an indeterminate amount. While certain matters specify the damages claimed, such claimed amount may not represent the Group’s reasonably possible losses. For certain of the proceedings discussed the Group has disclosed the amount of damages claimed and certain other quantifiable information that is publicly available. The Group’s aggregate litigation provisions include estimates of losses, additional losses or ranges of loss for proceedings for which such losses are probable and can be reasonably estimated. The Group does not believe that it can estimate an aggregate range of reasonably possible losses for certain of its proceedings because of their complexity, the novelty of some of the claims, the early stage of the proceedings, the limited amount of discovery that has occurred and/or other factors. The Group’s estimate of the aggregate range of reasonably possible losses that are not covered by existing provisions for the proceedings discussed in Note 39 referenced above and updated in quarterly reports (including below) for which the Group believes an estimate is possible is zero to CHF 1.4 billion. In 2Q19, the Group recorded net litigation provisions of CHF 73 million. After taking into account its litigation provisions, the Group believes, based on currently available information and advice of counsel, that the results of its legal proceedings, in the aggregate, will not have a material adverse effect on the Group’s financial condition. However, in light of the inherent uncertainties of such proceedings, including those brought by regulators or other governmental authorities, the ultimate cost to the Group of resolving such proceedings may exceed current litigation provisions and any excess may be material to its operating results for any particular period, depending, in part, upon the operating results for such period. Mortgage-related matters Civil litigation 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 16, 2019, following a settlement, the Circuit Court of Montgomery County, Alabama presiding in the action brought by the Federal Deposit Insurance Corporation, as receiver for Colonial Bank, dismissed with prejudice all claims against Credit Suisse Securities (USA) LLC and its affiliates relating to approximately USD 139 million of RMBS at issue. Repurchase litigations On June 12, 2019, the Supreme Court for the State of New York, New York County (SCNY) set trial to begin in December 2019 in two actions in which DLJ Mortgage Capital, Inc. (DLJ) and its affiliate, Select Portfolio Servicing, Inc., are defendants: one action brought by Home Equity Mortgage Trust Series 2006-1, Home Equity Mortgage Trust Series 2006-3 and Home Equity Mortgage Trust Series 2006-4, in which plaintiffs allege damages of not less than USD 730 million; and one action brought by Home Equity Mortgage Trust Series 2006-5, in which plaintiff alleges damages of not less than USD 500 million. On July 8, 2019, in the three consolidated actions against DLJ brought by Home Equity Asset Trust 2006-5, Home Equity Asset Trust 2006-6 and Home Equity Asset Trust 2006-7 that were dismissed with prejudice in 2013, the notice of appeal plaintiffs filed before the Appellate Division First Department of the SCNY was deemed dismissed when plaintiffs declined to further pursue their appeal by a court-ordered deadline. Rates-related matters Civil litigation USD ICE LIBOR litigation On July 1, 2019, in the consolidated putative class action brought in the US District Court for the Southern District of New York (SDNY) alleging that panel banks suppressed US dollar ICE LIBOR to benefit defendants’ trading positions, plaintiffs filed a consolidated complaint. SIBOR/SOR litigation On July 26, 2019, in the civil putative class action litigation alleging manipulation of the Singapore Interbank Offered Rate (SIBOR) and Singapore Swap Offer Rate (SOR) to benefit defendants’ trading positions, the SDNY issued a decision granting defendants’ motion to dismiss and denying plaintiff’s motion for leave to amend. Foreign exchange litigation On June 11, 2019, in the civil action filed on November 13, 2018 in the SDNY, plaintiffs filed a second amended complaint. Defendants filed motions to dismiss on July 25, 2019. Bank Bill Swap litigation On May 20, 2019, in the putative class action brought in the SDNY alleging manipulation of the Australian Bank Bill Swap reference rate, defendants filed motions to dismiss. Government-sponsored entity bonds litigation On May 23, 2019, in the consolidated putative class action brought in the SDNY alleging a conspiracy among financial institutions to fix prices for unsecured bonds issued by certain government-sponsored entities, plaintiffs filed a consolidated amended complaint. On June 13, 2019, defendants filed a motion to dismiss. On July 12, 2019, plaintiffs filed a second consolidated amended complaint. OTC trading cases On June 18, 2019, in the consolidated multi-district litigation relating to interest rate swaps, defendants filed an opposition to plaintiffs’ motion for class certification. MPS On June 11, 2019, following a settlement, the Civil Court of Milan, Italy dismissed all claims against Credit Suisse Securities (Europe) Limited (CSSEL) brought by the Monte dei Paschi di Siena Foundation (Foundation) relating to the fairness opinions CSSEL and Banca Leonardo & Co S.p.A. delivered to the Foundation in connection with the EUR 9 billion acquisition of Banca Antonveneta S.p.A. by Banca Monte dei Paschi di Siena S.p.A. in 2008. Customer account matters On June 26, 2019, the Criminal Court of Appeals of Geneva ruled in the appeal of the judgment against the former relationship manager, upholding the main findings of the Geneva criminal court. On April 29, 2019, the plaintiffs appealed the decision of the Singapore High Court only with respect to their action against the Credit Suisse affiliate. On June 21, 2019, the plaintiffs discontinued their action against Credit Suisse AG in the Singapore courts. On May 3, 2019, the plaintiffs filed a notice of abandonment of appeal in the Court of Appeal of New Zealand. Mozambique matter On May 20, 2019 and July 19, 2019, two former Credit Suisse employees indicted by the United States Attorney for the Eastern District of New York pleaded guilty to accepting improper personal benefit in connection with financing transactions carried out with two Mozambique state enterprises. On June 25, 2019, certain Credit Suisse entities were served with civil proceedings in the English High Court by the Republic of Mozambique. Write-downs litigation On May 16, 2019, in the putative class action brought in the SDNY relating to write-downs in the fourth quarter of 2015 and the first quarter of 2016 and a decline in the market value of Credit Suisse Group AG’s American Depositary Receipts, the SDNY denied defendants’ motion for reconsideration of the court’s February 19, 2019 denial of defendants’ motion to dismiss. ETN-related litigation On May 16, 2019, in the individual action brought in the SDNY by a purchaser of VelocityShares Daily Inverse VIX Short Term Exchange Traded Notes linked to the S&P 500 VIX Short-Term Futures Index due December 4, 2030 (XIV ETNs), defendants filed a motion to dismiss. On June 3, 2019, Credit Suisse Group AG and certain affiliates and executives were named in a separate individual action brought in the SDNY by a purchaser of XIV ETNs, which asserts claims similar to those brought in the consolidated class action complaint as well as additional claims under New York and Pennsylvania state law. SWM On April 29, 2019, the German public utility company Stadtwerke München GmbH filed a notice of appeal of the decision of the trial court (the Regional Court of Frankfurt am Main) dismissing all claims against Credit Suisse International in connection with a series of interest rate swaps entered into between 2008 and 2012. |
Bank | |
Litigation | 32 Litigation > Refer to “Note 33 – Litigation” in III – Condensed consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q19 for further information. |
Subsidiary guarantee informatio
Subsidiary guarantee information | 6 Months Ended |
Jun. 30, 2019 | |
Subsidiary guarantee information [Text Block] | 34 Subsidiary guarantee information Certain wholly owned finance subsidiaries of the Group, including Credit Suisse Group Funding (Guernsey) Limited, which is a Guernsey incorporated non-cellular company limited by shares, have issued securities fully and unconditionally guaranteed by the Group. There are various legal and regulatory requirements, including the satisfaction of a solvency test under Guernsey law for the Guernsey subsidiary, applicable to some of the Group’s subsidiaries that may limit their ability to pay dividends or distributions and make loans and advances to the Group. The Group and the Bank have issued full, unconditional and several guarantees of Credit Suisse (USA), Inc.’s outstanding SEC-registered debt securities. In accordance with the guarantees, if Credit Suisse (USA), Inc. fails to make any timely payment under the agreements governing such debt securities, the holders of the debt securities may demand payment from either the Group or the Bank, without first proceeding against Credit Suisse (USA), Inc. The guarantee from the Group is subordinated to senior liabilities. Credit Suisse (USA), Inc. is an indirect, wholly owned subsidiary of the Group. Condensed consolidating statements of operations Bank 1 Condensed consolidating statements of operations (CHF million) Interest and dividend income 1,016 4,639 5,655 311 (313) 5,653 Interest expense (1,096) (2,552) (3,648) (322) 318 (3,652) Net interest income (80) 2,087 2,007 (11) 5 2,001 Commissions and fees 912 1,992 2,904 5 18 2,927 Trading revenues 221 10 231 (54) 5 182 Other revenues 512 22 534 1,020 2 (1,083) 471 Net revenues 1,565 4,111 5,676 960 (1,055) 5,581 Provision for credit losses 3 22 25 0 0 25 Compensation and benefits 698 1,607 2,305 30 210 2,545 General and administrative expenses 459 1,304 1,763 (7) (361) 1,395 Commission expenses 44 269 313 0 1 314 Total other operating expenses 503 1,573 2,076 (7) (360) 1,709 Total operating expenses 1,201 3,180 4,381 23 (150) 4,254 Income/(loss) before taxes 361 909 1,270 937 (905) 1,302 Income tax expense 140 199 339 0 26 365 Net income/(loss) 221 710 931 937 (931) 937 Net income/(loss) attributable to noncontrolling interests 3 1 4 0 (4) 0 Net income/(loss) attributable to shareholders 218 709 927 937 (927) 937 1 Includes eliminations and consolidation adjustments. 2 Primarily consists of revenues from investments in Group companies accounted for under the equity method. Condensed consolidating statements of comprehensive income Bank 1 Comprehensive income (CHF million) Net income/(loss) 221 710 931 937 (931) 937 Gains/(losses) on cash flow hedges 0 45 45 (1) (1) 43 Foreign currency translation (323) (255) (578) (1) (13) (592) Unrealized gains/(losses) on securities 0 12 12 0 0 12 Actuarial gains/(losses) 4 0 4 0 382 386 Net prior service credit/(cost) 0 0 0 0 306 306 Gains/(losses) on liabilities related to credit risk (16) (200) (216) (19) 4 (231) Other comprehensive income/(loss), net of tax (335) (398) (733) (21) 678 (76) Comprehensive income/(loss) (114) 312 198 916 (253) 861 Comprehensive income/(loss) attributable to noncontrolling interests 1 (11) (10) 0 7 (3) Comprehensive income/(loss) attributable to shareholders (115) 323 208 916 (260) 864 1 Includes eliminations and consolidation adjustments. Condensed consolidating statements of operations (continued) Bank 1 Condensed consolidating statements of operations (CHF million) Interest and dividend income 1,048 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 (continued) 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 2,014 8,462 10,476 611 (616) 10,471 Interest expense (2,158) (4,763) (6,921) (635) 618 (6,938) Net interest income (144) 3,699 3,555 (24) 2 3,533 Commissions and fees 1,616 3,867 5,483 11 45 5,539 Trading revenues 426 661 1,087 (64) (1) 1,022 Other revenues 996 (10) 986 1,797 2 (1,909) 874 Net revenues 2,894 8,217 11,111 1,720 (1,863) 10,968 Provision for credit losses 9 97 106 0 0 106 Compensation and benefits 1,430 3,179 4,609 48 406 5,063 General and administrative expenses 908 2,600 3,508 (14) (686) 2,808 Commission expenses 95 532 627 0 0 627 Total other operating expenses 1,003 3,132 4,135 (14) (686) 3,435 Total operating expenses 2,433 6,311 8,744 34 (280) 8,498 Income/(loss) before taxes 452 1,809 2,261 1,686 (1,583) 2,364 Income tax expense/(benefit) 180 521 701 0 (23) 678 Net income/(loss) 272 1,288 1,560 1,686 (1,560) 1,686 Net income/(loss) attributable to noncontrolling interests 3 4 7 0 (7) 0 Net income/(loss) attributable to shareholders 269 1,284 1,553 1,686 (1,553) 1,686 1 Includes eliminations and consolidation adjustments. 2 Primarily consists of revenues from investments in Group companies accounted for under the equity method. Condensed consolidating statements of comprehensive income (continued) Bank 1 Comprehensive income (CHF million) Net income/(loss) 272 1,288 1,560 1,686 (1,560) 1,686 Gains/(losses) on cash flow hedges 0 93 93 (3) (1) 89 Foreign currency translation (147) (244) (391) 2 (4) (393) Unrealized gains/(losses) on securities 0 27 27 0 (1) 26 Actuarial gains/(losses) 6 2 8 0 438 446 Net prior service credit/(cost) 0 0 0 0 282 282 Gains/(losses) on liabilities related to credit risk (53) (1,185) (1,238) (48) (66) (1,352) Other comprehensive income/(loss), net of tax (194) (1,307) (1,501) (49) 648 (902) Comprehensive income/(loss) 78 (19) 59 1,637 (912) 784 Comprehensive income/(loss) attributable to noncontrolling interests 2 (2) 0 0 (1) (1) Comprehensive income/(loss) attributable to shareholders 76 (17) 59 1,637 (911) 785 1 Includes eliminations and consolidation adjustments. Condensed consolidating 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 balance sheets Bank 1 Assets (CHF million) Cash and due from banks 2,687 89,087 91,774 264 451 92,489 Interest-bearing deposits with banks 10 831 841 493 (425) 909 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 38,653 74,813 113,466 0 0 113,466 Securities received as collateral 3,686 41,692 45,378 0 0 45,378 Trading assets 33,012 112,746 145,758 0 (145) 145,613 Investment securities 0 1,396 1,396 27,781 (27,779) 1,398 Other investments 774 4,172 4,946 48,922 (48,882) 4,986 Net loans 12,506 287,775 300,281 0 (6,484) 293,797 Goodwill 721 3,304 4,025 0 706 4,731 Other intangible assets 199 17 216 0 0 216 Brokerage receivables 17,556 24,098 41,654 0 0 41,654 Other assets 12,162 24,931 37,093 621 1,865 39,579 Total assets 121,966 664,862 786,828 78,081 (80,693) 784,216 Liabilities and equity (CHF million) Due to banks 94 18,398 18,492 1,769 (1,763) 18,498 Customer deposits 1 365,555 365,556 0 (1,254) 364,302 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 6,014 13,677 19,691 0 (109) 19,582 Obligation to return securities received as collateral 3,686 41,692 45,378 0 0 45,378 Trading liabilities 10,850 32,520 43,370 0 (14) 43,356 Short-term borrowings 9,365 17,263 26,628 0 (489) 26,139 Long-term debt 50,342 106,676 157,018 32,212 (31,275) 157,955 Brokerage payables 15,966 19,154 35,120 0 0 35,120 Other liabilities 9,681 19,720 29,401 427 130 29,958 Total liabilities 105,999 634,655 740,654 34,408 (34,774) 740,288 Total shareholders' equity 15,893 29,429 45,322 43,673 (45,322) 43,673 Noncontrolling interests 74 778 852 0 (597) 255 Total equity 15,967 30,207 46,174 43,673 (45,919) 43,928 Total liabilities and equity 121,966 664,862 786,828 78,081 (80,693) 784,216 1 Includes eliminations and consolidation adjustments. Condensed consolidating balance sheets (continued) Bank 1 Assets (CHF million) Cash and due from banks 2,540 96,774 99,314 324 409 100,047 Interest-bearing deposits with banks 22 1,052 1,074 498 (430) 1,142 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 35,640 81,455 117,095 0 0 117,095 Securities received as collateral 4,751 36,945 41,696 0 0 41,696 Trading assets 2 29,341 104,518 133,859 0 (224) 133,635 Investment securities 2 0 1,477 1,477 23,456 (23,454) 1,479 Other investments 826 3,998 4,824 48,030 (47,964) 4,890 Net loans 12,263 280,612 292,875 0 (5,294) 287,581 Goodwill 727 3,329 4,056 0 710 4,766 Other intangible assets 200 19 219 0 0 219 Brokerage receivables 20,772 18,135 38,907 0 0 38,907 Other assets 3 12,967 23,706 36,673 547 239 37,459 Total assets 120,049 652,020 772,069 72,855 (76,008) 768,916 Liabilities and equity (CHF million) Due to banks 59 15,161 15,220 1,364 (1,364) 15,220 Customer deposits 0 365,263 365,263 0 (1,338) 363,925 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 6,296 18,327 24,623 0 0 24,623 Obligation to return securities received as collateral 4,751 36,945 41,696 0 0 41,696 Trading liabilities 8,693 33,478 42,171 0 (2) 42,169 Short-term borrowings 9,679 12,740 22,419 0 (493) 21,926 Long-term debt 47,074 106,359 153,433 27,112 (26,237) 154,308 Brokerage payables 17,452 13,471 30,923 0 0 30,923 Other liabilities 9,995 20,332 30,327 457 (677) 30,107 Total liabilities 103,999 622,076 726,075 28,933 (30,111) 724,897 Total shareholders' equity 15,971 29,325 45,296 43,922 (45,296) 43,922 Noncontrolling interests 79 619 698 0 (601) 97 Total equity 16,050 29,944 45,994 43,922 (45,897) 44,019 Total liabilities and equity 120,049 652,020 772,069 72,855 (76,008) 768,916 1 Includes eliminations and consolidation adjustments. 2 Residential and commercial mortgage-backed securities that were previously reported in investment securities have been reclassified to trading assets as these securities are carried at fair value under the fair value option. 3 Includes premises and equipment which were previously presented separately in the consolidated balance sheet. Condensed consolidating statements of cash flows Bank 1 Operating activities (CHF million) Net cash provided by/(used in) operating activities 738 (3,240) (2,502) (111) 2 (847) (3,460) Investing activities (CHF million) (Increase)/decrease in interest-bearing deposits with banks 12 225 237 5 (6) 236 (Increase)/decrease in central bank funds sold, securities purchased under resale agreements and securities borrowing transactions (3,428) 6,348 2,920 0 0 2,920 Purchase of investment securities 0 (307) (307) (3,517) 3,517 (307) Proceeds from sale of investment securities 0 4 4 0 0 4 Maturities of investment securities 0 394 394 0 0 394 Investments in subsidiaries and other investments (40) (107) (147) (5) 5 (147) Proceeds from sale of other investments 317 251 568 25 (1) 592 (Increase)/decrease in loans (419) (10,646) (11,065) 0 1,198 (9,867) Proceeds from sales of loans 0 2,460 2,460 0 0 2,460 Capital expenditures for premises and equipment and other intangible assets (144) (327) (471) 0 (83) (554) Proceeds from sale of premises and equipment and other intangible assets 0 29 29 0 0 29 Other, net 40 182 222 0 0 222 Net cash provided by/(used in) investing activities (3,662) (1,494) (5,156) (3,492) 4,630 (4,018) Financing activities (CHF million) Increase/(decrease) in due to banks and customer deposits 37 4,872 4,909 405 (317) 4,997 Increase/(decrease) in short-term borrowings (228) 4,119 3,891 0 (47) 3,844 Increase/(decrease) in central bank funds purchased, securities sold under repurchase agreements and securities lending transactions (228) (4,628) (4,856) 0 (111) (4,967) Issuances of long-term debt 106,285 (91,626) 14,659 4,217 (4,239) 14,637 Repayments of long-term debt (102,644) 84,040 (18,604) 0 0 (18,604) Sale of treasury shares 0 0 0 3 4,717 4,720 Repurchase of treasury shares 0 0 0 (1,013) (4,705) (5,718) Dividends paid (1) (10) (11) (695) 10 (696) Other, net (126) 406 280 626 948 1,854 Net cash provided by/(used in) financing activities 3,095 (2,827) 268 3,543 (3,744) 67 Effect of exchange rate changes on cash and due from banks (CHF million) Effect of exchange rate changes on cash and due from banks (24) (126) (150) 0 3 (147) Net increase/(decrease) in cash and due from banks (CHF million) Net increase/(decrease) in cash and due from banks 147 (7,687) (7,540) (60) 42 (7,558) Cash and due from banks at beginning of period 3 2,540 96,774 99,314 324 409 100,047 Cash and due from banks at end of period 3 2,687 89,087 91,774 264 451 92,489 1 Includes eliminations and consolidation adjustments. 2 Consists of dividend payments from Group companies of CHF 10 million and CHF 14 million from bank and non-bank subsidiaries, respectively, and other cash items from parent company operations such as Group financing. 3 Includes restricted cash. Condensed consolidating statements of cash flows (continued) Bank 1 Operating activities (CHF million) Net cash provided by/(used in) operating activities (1,870) 13,698 11,828 (130) 2 156 11,854 Investing activities (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 0 130 130 0 0 130 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 (11,738) 3 (11,587) 3 0 1,416 (10,171) 3 Proceeds from sales of loans 0 3,472 3 3,472 3 0 0 3,472 3 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 1,577 (10,804) (9,227) (4,855) 6,162 (7,920) Financing activities (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 (305) (467) (772) 1,009 25 262 Net cash provided by/(used in) financing activities 170 (1,131) (961) 4,735 (5,487) (1,713) 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 4 3,058 106,452 109,510 516 (211) 109,815 Cash and due from banks at end of period 4 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 Balance has been corrected. 4 Includes restricted cash. |
Summary of significant accoun_2
Summary of significant accounting policies (Policies) | 6 Months Ended |
Jun. 30, 2019 | |
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, 2018 included in the Credit Suisse Annual Report 2018. > Refer to “Note 1 – Summary of significant accounting policies” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2018 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 1Q19 consolidated statements of operations and comprehensive income, the 1Q19 consolidated balance sheets and the 2Q19, 1Q19 and 2Q18 consolidated statements of changes in equity have been added for the convenience of the reader and are not a required presentation under US GAAP. The results of operations for interim periods are not indicative of results for the entire year. In preparing these condensed consolidated financial statements, management is required to make estimates and assumptions which affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the condensed consolidated balance sheets and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Bank | |
Basis of presentation | Basis of presentation The accompanying unaudited condensed consolidated financial statements of Credit Suisse AG (the Bank), the direct bank subsidiary of Credit Suisse Group AG (the Group), are prepared in accordance with accounting principles generally accepted in the US (US GAAP) and are stated in Swiss francs (CHF). These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto for the year ended December 31, 2018, included in the Credit Suisse Group AG & Credit Suisse AG Annual Report 2018 (Credit Suisse Annual Report 2018). > Refer to “Note 1 – Summary of significant accounting policies” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2018 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, 2019 | |
Net revenues and income/(loss) from continuing operations before taxes and total assets by segment | Net revenues and income/(loss) before taxes in 2Q19 1Q19 2Q18 6M19 6M18 Net revenues (CHF million) Swiss Universal Bank 1,476 1,379 1,419 2,855 2,850 International Wealth Management 1,369 1,417 1,344 2,786 2,747 Asia Pacific 913 854 914 1,767 1,905 Global Markets 1,553 1,472 1,426 3,025 2,972 Investment Banking & Capital Markets 454 356 644 810 1,172 Strategic Resolution Unit 1 – – (176) – (379) Corporate Center (184) (91) 24 (275) (36) Net revenues 5,581 5,387 5,595 10,968 11,231 Income/(loss) before taxes (CHF million) Swiss Universal Bank 654 550 553 1,204 1,116 International Wealth Management 444 523 433 967 917 Asia Pacific 237 183 217 420 451 Global Markets 357 282 148 639 443 Investment Banking & Capital Markets 6 (93) 110 (87) 169 Strategic Resolution Unit 1 – – (368) – (777) Corporate Center (396) (383) (41) (779) (213) Income/(loss) before taxes 1,302 1,062 1,052 2,364 2,106 1 Beginning in 2019, the Strategic Resolution Unit has ceased to exist as a separate division of the Group. The residual portfolio remaining as of December 31, 2018 is now managed in an Asset Resolution Unit and is separately disclosed within the Corporate Center. Total assets end of 2Q19 1Q19 4Q18 Total assets (CHF million) Swiss Universal Bank 229,705 228,664 224,301 International Wealth Management 94,591 93,968 91,835 Asia Pacific 106,592 105,868 99,809 Global Markets 217,930 227,482 211,530 Investment Banking & Capital Markets 17,667 17,494 16,156 Strategic Resolution Unit 1 – – 20,874 Corporate Center 117,731 120,160 104,411 Total assets 784,216 793,636 768,916 1 Beginning in 2019, the Strategic Resolution Unit has ceased to exist as a separate division of the Group. The residual portfolio remaining as of December 31, 2018 is now managed in an Asset Resolution Unit and is separately disclosed within the Corporate Center. |
Bank | |
Net revenues and income/(loss) from continuing operations before taxes and total assets by segment | Net revenues and income/(loss) before taxes in 6M19 6M18 Net revenues (CHF million) Swiss Universal Bank 2,855 2,850 International Wealth Management 2,786 2,747 Asia Pacific 1,767 1,905 Global Markets 3,025 2,972 Investment Banking & Capital Markets 810 1,172 Strategic Resolution Unit 1 – (379) Adjustments 2 (132) (71) Net revenues 11,111 11,196 Income/(loss) before taxes (CHF million) Swiss Universal Bank 1,204 1,116 International Wealth Management 967 917 Asia Pacific 420 451 Global Markets 639 443 Investment Banking & Capital Markets (87) 169 Strategic Resolution Unit 1 – (777) Adjustments 2 (882) (432) Income/(loss) before taxes 2,261 1,887 1 Beginning in 2019, the Strategic Resolution Unit has ceased to exist as a separate division of the Group. The residual portfolio remaining as of December 31, 2018 is now managed in an Asset Resolution Unit and is separately disclosed within the Corporate Center. 2 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 6M19 2018 Total assets (CHF million) Swiss Universal Bank 229,705 224,301 International Wealth Management 94,591 91,835 Asia Pacific 106,592 99,809 Global Markets 217,930 211,530 Investment Banking & Capital Markets 17,667 16,156 Strategic Resolution Unit 1 – 20,874 Adjustments 2 120,343 107,564 Total assets 786,828 772,069 1 Beginning in 2019, the Strategic Resolution Unit has ceased to exist as a separate division of the Group. The residual portfolio remaining as of December 31, 2018 is now managed in an Asset Resolution Unit and is separately disclosed within the Corporate Center. 2 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, 2019 | |
Net interest income | in 2Q19 1Q19 2Q18 6M19 6M18 Net interest income (CHF million) Loans 1,855 1,787 1,679 3,642 3,282 Investment securities 3 3 20 6 30 Trading assets 2,246 1,500 1,968 3,746 3,540 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 779 781 706 1,560 1,363 Other 770 747 717 1,517 1,326 Interest and dividend income 5,653 4,818 5,090 10,471 9,541 Deposits (808) (783) (587) (1,591) (1,037) Short-term borrowings (114) (97) (123) (211) (205) Trading liabilities (1,069) (714) (1,144) (1,783) (2,004) Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions (456) (482) (477) (938) (876) Long-term debt (910) (904) (982) (1,814) (1,892) Other (295) (306) (184) (601) (349) Interest expense (3,652) (3,286) (3,497) (6,938) (6,363) Net interest income 2,001 1,532 1,593 3,533 3,178 |
Bank | |
Net interest income | in 6M19 6M18 Net interest income (CHF million) Loans 3,646 3,285 Investment securities 5 30 Trading assets 3,746 3,540 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 1,560 1,363 Other 1,519 1,328 Interest and dividend income 10,476 9,546 Deposits (1,593) (1,038) Short-term borrowings (218) (210) Trading liabilities (1,783) (2,004) Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions (938) (876) Long-term debt (1,788) (1,828) Other (601) (347) Interest expense (6,921) (6,303) Net interest income 3,555 3,243 |
Commissions and fees (Tables)
Commissions and fees (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Commissions and fees | in 2Q19 1Q19 2Q18 6M19 6M18 Commissions and fees (CHF million) Lending business 443 396 529 839 999 Investment and portfolio management 846 845 896 1,691 1,788 Other securities business 16 12 11 28 23 Fiduciary business 862 857 907 1,719 1,811 Underwriting 514 345 513 859 983 Brokerage 734 693 745 1,427 1,555 Underwriting and brokerage 1,248 1,038 1,258 2,286 2,538 Other services 374 321 465 695 857 Commissions and fees 2,927 2,612 3,159 5,539 6,205 |
Bank | |
Commissions and fees | in 6M19 6M18 Commissions and fees (CHF million) Lending business 827 984 Investment and portfolio management 1,612 1,693 Other securities business 46 44 Fiduciary business 1,658 1,737 Underwriting 861 983 Brokerage 1,435 1,556 Underwriting and brokerage 2,296 2,539 Other services 702 866 Commissions and fees 5,483 6,126 |
Trading revenues (Tables)
Trading revenues (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Trading revenues | in 2Q19 1Q19 2Q18 6M19 6M18 Trading revenues (CHF million) Interest rate products (334) 430 (301) 96 556 Foreign exchange products (60) (215) (31) (275) 153 Equity/index-related products 114 740 723 854 396 Credit products 198 (328) 65 (130) 99 Commodity and energy products 36 48 13 84 39 Other products 228 165 59 393 (137) Trading revenues 182 840 528 1,022 1,106 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 6M19 6M18 Trading revenues (CHF million) Interest rate products 94 559 Foreign exchange products (276) 152 Equity/index-related products 924 336 Credit products (130) 99 Commodity and energy products 84 39 Other products 391 (137) Trading revenues 1,087 1,048 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, 2019 | |
Other revenues | in 2Q19 1Q19 2Q18 6M19 6M18 Other revenues (CHF million) Noncontrolling interests without SEI 0 0 0 0 (1) Loans held-for-sale (7) (9) 1 (16) 11 Long-lived assets held-for-sale 74 29 0 103 16 Equity method investments 54 56 52 110 121 Other investments 121 102 61 223 189 Other 229 225 201 454 406 Other revenues 471 403 315 874 742 |
Bank | |
Other revenues | in 6M19 6M18 Other revenues (CHF million) Loans held-for-sale (16) 11 Long-lived assets held-for-sale 103 16 Equity method investments 109 119 Other investments 222 188 Other 568 445 Other revenues 986 779 |
Provision for credit losses (Ta
Provision for credit losses (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Provision for credit losses | in 2Q19 1Q19 2Q18 6M19 6M18 Provision for credit losses (CHF million) Provision for loan losses 15 75 60 90 96 Provision for lending-related and other exposures 10 6 13 16 25 Provision for credit losses 25 81 73 106 121 |
Bank | |
Provision for credit losses | in 6M19 6M18 Provision for credit losses (CHF million) Provision for loan losses 90 96 Provision for lending-related and other exposures 16 25 Provision for credit losses 106 121 |
Compensation and benefits (Tabl
Compensation and benefits (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Compensation and benefits | in 2Q19 1Q19 2Q18 6M19 6M18 Compensation and benefits (CHF million) Salaries and variable compensation 2,161 2,170 2,148 4,331 4,337 Social security 187 159 200 346 360 Other 1 197 189 199 386 388 Compensation and benefits 2,545 2,518 2,547 5,063 5,085 1 Includes pension-related expenses of CHF 112 million, CHF 108 million, CHF 108 million, CHF 220 million and CHF 215 million in 2Q19 1Q19 2Q18 6M19 6M18 |
Bank | |
Compensation and benefits | in 6M19 6M18 Compensation and benefits (CHF million) Salaries and variable compensation 3,900 3,943 Social security 301 315 Other 408 1 443 Compensation and benefits 4,609 4,701 1 Includes pension-related expenses of CHF 256 million and CHF 278 million in 6M19 and 6M18, respectively, relating to service costs for defined benefit pension plans and employer contributions for defined contribution pension plans. |
General and administrative ex_2
General and administrative expenses (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
General and administrative expenses | in 2Q19 1Q19 2Q18 6M19 6M18 General and administrative expenses (CHF million) Occupancy expenses 247 282 248 529 488 IT, machinery, etc. 326 323 273 649 550 Provisions and losses 78 58 97 136 237 Travel and entertainment 88 78 83 166 177 Professional services 407 403 428 810 911 Amortization and impairment of other intangible assets 1 2 2 3 5 Other 1 248 267 289 515 560 General and administrative expenses 1,395 1,413 1,420 2,808 2,928 1 Includes pension-related expenses/(credits) of CHF (52) (34) (52) (86) (105) 2Q19 1Q19 2Q18 6M19 6M18 |
Bank | |
General and administrative expenses | in 6M19 6M18 General and administrative expenses (CHF million) Occupancy expenses 478 435 IT, machinery, etc. 515 428 Provisions and losses 136 237 Travel and entertainment 151 164 Professional services 1,497 1,490 Amortization and impairment of other intangible assets 3 5 Other 1 728 799 General and administrative expenses 3,508 3,558 1 Includes pension-related expenses/(credits) of CHF 5 million and CHF 15 million in 6M19 and 6M18, respectively, relating to certain components of net periodic benefit costs for defined benefit plans. |
Restructuring expenses (Tables)
Restructuring expenses (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Restructuring and Related Costs [Table Text Block] | Restructuring expenses by segment in 2Q18 6M18 Restructuring expenses by segment (CHF million) Swiss Universal Bank 27 55 International Wealth Management 28 54 Asia Pacific 20 26 Global Markets 56 98 Investment Banking & Capital Markets 31 61 Strategic Resolution Unit 1 13 24 Corporate Center 0 1 Total restructuring expenses 175 319 1 Beginning in 2019, the Strategic Resolution Unit has ceased to exist as a separate division of the Group. The residual portfolio remaining as of December 31, 2018 is now managed in an Asset Resolution Unit and is separately disclosed within the Corporate Center. Restructuring expenses by type in 2Q18 6M18 Restructuring expenses by type (CHF million) Compensation and benefits-related expenses 85 188 of which severance expenses 58 127 of which accelerated deferred compensation 27 61 General and administrative-related expenses 90 131 of which pension expenses 25 52 Total restructuring expenses 175 319 |
Restructuring Provisions [Table Text Block] | Restructuring provision 6M19 6M18 Compen- General and Compen- General and Restructuring provision (CHF million) Balance at beginning of period 156 190 346 196 110 306 Net additional charges 1 – – – 127 75 202 Reclassifications (156) 2 (190) 3 (346) – – – Utilization – – – (131) (48) (179) Balance at end of period 0 0 0 192 137 329 1 The following items for which expense accretion was accelerated in 6M18 due to the restructuring of the Group are not included in the restructuring provision: unsettled share-based compensation of CHF 46 million, which remain classified as a component of total shareholders’ equity; unsettled pension obligations of CHF 52 million, which remain classified as pension liabilities; unsettled cash-based deferred compensation of CHF 15 million, which remain classified as compensation liabilities; and accelerated accumulated depreciation and impairment of CHF 4 million, which remain classified as premises and equipment. The settlement date for the unsettled share-based compensation remains unchanged at three years. 2 In 6M19, CHF 97 million were transferred to litigation provisions and CHF 59 million were transferred to other liabilities. 3 In 6M19, CHF 167 million were transferred to right-of-use assets in accordance with ASU 2016-02 and CHF 23 million to other liabilities. |
Bank | |
Restructuring and Related Costs [Table Text Block] | Restructuring expenses by segment in 6M18 Restructuring expenses by segment (CHF million) Swiss Universal Bank 55 International Wealth Management 54 Asia Pacific 26 Global Markets 98 Investment Banking & Capital Markets 61 Strategic Resolution Unit 1 24 Corporate Center 1 Adjustments 2 (62) Total restructuring expenses 257 1 Beginning in 2019, the Strategic Resolution Unit has ceased to exist as a separate division of the Group. The residual portfolio remaining as of December 31, 2018 is now managed in an Asset Resolution Unit and is separately disclosed within the Corporate Center. 2 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 Restructuring expenses by type (CHF million) Compensation and benefits-related expenses 180 of which severance expenses 119 of which accelerated deferred compensation 61 General and administrative-related expenses 77 Total restructuring expenses 257 |
Restructuring Provisions [Table Text Block] | Restructuring provision 6M19 6M18 Compen- General and Compen- General and Restructuring provision (CHF million) Balance at beginning of period 152 190 342 191 110 301 Net additional charges 1 – – – 119 73 192 Reclassifications (152) 2 (190) 3 (342) – – – Utilization – – – (123) (46) (169) Balance at end of period 0 0 0 187 137 324 1 The following items for which expense accretion was accelerated in 6M18 due to the restructuring of the Bank are not included in the restructuring provision: unsettled share-based compensation of CHF 46 million; unsettled cash-based deferred compensation of CHF 15 million, which remain classified as compensation liabilities; and accelerated accumulated depreciation and impairment of CHF 4 million, which remain classified as premises and equipment. The settlement date for the unsettled share-based compensation remains unchanged at three years. 2 In 6M19, CHF 97 million were transferred to litigation provisions and CHF 55 million were transferred to other liabilities. 3 In 6M19, CHF 167 million were transferred to right-of-use assets in accordance with ASU 2016-02 and CHF 23 million to other liabilities. |
Earnings per share (Tables)
Earnings per share (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Earnings per share | in 2Q19 1Q19 2Q18 6M19 6M18 Basic net income/(loss) attributable to shareholders (CHF million) Net income attributable to shareholders for basic earnings per share 937 749 647 1,686 1,341 Net income attributable to shareholders for diluted earnings per share 937 749 647 1,686 1,341 Weighted-average shares outstanding (million) For basic earnings per share available for common shares 2,546.1 2,573.1 2,581.9 2,559.6 2,584.1 Dilutive share options and warrants 4.0 3.4 3.3 3.6 2.8 Dilutive share awards 46.4 45.3 44.9 45.9 55.0 For diluted earnings per share available for common shares 1 2,596.5 2,621.8 2,630.1 2,609.1 2,641.9 Earnings/(loss) per share available for common shares (CHF) Basic earnings per share available for common shares 0.37 0.29 0.25 0.66 0.52 Diluted earnings per share available for common shares 0.36 0.29 0.25 0.65 0.51 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 6.2 million, 6.7 million, 9.1 million, 6.5 million and 10.4 million for 2Q19, 1Q19, 2Q18, 6M19 and 6M18, respectively. |
Revenue from contracts with c_2
Revenue from contracts with customers (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Contract with Customer, Asset and Liability [Table Text Block] | Contracts with customers and disaggregation of revenues in 2Q19 1Q19 2Q18 6M19 6M18 Contracts with customers (CHF million) Investment and portfolio management 846 845 896 1,691 1,788 Other securities business 16 12 11 28 23 Underwriting 514 345 513 859 983 Brokerage 732 694 749 1,426 1,559 Other services 375 322 471 697 958 Total revenues from contracts with customers 2,483 2,218 2,640 4,701 5,311 |
Revenue from External Customers by Products and Services [Table Text Block] | Contract balances end of / in 2Q19 1Q19 4Q18 Contract balances (CHF million) Contract receivables 901 839 791 Contract liabilities 63 58 56 Revenue recognized in the reporting period included in the contract liabilities balance at the beginning of period 10 7 16 |
Bank | |
Contract with Customer, Asset and Liability [Table Text Block] | Contracts with customers and disaggregation of revenues in 6M19 6M18 Contracts with customers (CHF million) Investment and portfolio management 1,612 1,693 Other securities business 46 44 Underwriting 861 983 Brokerage 1,433 1,560 Other services 745 966 Total revenues from contracts with customers 4,697 5,246 |
Revenue from External Customers by Products and Services [Table Text Block] | Contract balances in / end of 2Q19 1Q19 4Q18 Contract balances (CHF million) Contract receivables 931 858 789 Contract liabilities 63 58 56 Revenue recognized in the reporting period included in the contract liabilities balance at the beginning of period 10 7 16 |
Trading assets and liabilities
Trading assets and liabilities (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Trading assets and liabilities | end of 2Q19 1Q19 4Q18 Trading assets (CHF million) Debt securities 64,468 62,272 63,567 Equity securities 56,317 58,845 46,463 Derivative instruments 1 19,561 18,353 18,312 Other 5,267 5,452 5,293 Trading assets 145,613 144,922 133,635 Trading liabilities (CHF million) Short positions 28,521 25,195 26,946 Derivative instruments 1 14,835 14,341 15,223 Trading liabilities 43,356 39,536 42,169 1 Amounts shown after counterparty and cash collateral netting. |
Cash collateral receivables and payables | Cash collateral on derivative instruments end of 2Q19 1Q19 4Q18 Cash collateral on derivatives instruments – netted (CHF million) 1 Cash collateral paid 19,550 18,520 20,216 Cash collateral received 16,052 14,098 13,213 Cash collateral on derivatives instruments– not netted (CHF million) 2 Cash collateral paid 5,692 5,358 7,057 Cash collateral received 7,048 6,867 6,903 1 Recorded as cash collateral netting on derivative instruments in Note 24 – Offsetting of financial assets and financial liabilities. 2 Recorded as cash collateral on derivative instruments in Note 20 – Other assets and other liabilities. |
Bank | |
Trading assets and liabilities | end of 6M19 2018 Trading assets (CHF million) Debt securities 64,555 63,648 1 Equity securities 56,376 46,517 Derivative instruments 2 19,561 18,402 Other 5,266 5,292 Trading assets 145,758 133,859 1 Trading liabilities (CHF million) Short positions 28,535 26,948 Derivative instruments 2 14,835 15,223 Trading liabilities 43,370 42,171 1 Residential and commercial mortgage-backed securities that were previously reported in investment securities have been reclassified to trading assets as these securities are carried at fair value under the fair value option. 2 Amounts shown after counterparty and cash collateral netting. |
Cash collateral receivables and payables | Cash collateral on derivative instruments end of 6M19 2018 Cash collateral on derivative instruments – netted (CHF million) 1 Cash collateral paid 19,597 20,333 Cash collateral received 16,052 13,213 Cash collateral on derivative instruments – not netted (CHF million) 2 Cash collateral paid 5,693 7,057 Cash collateral received 7,048 6,903 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 19 – Other assets and other liabilities. |
Investment securities (Tables)
Investment securities (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Investment securities | end of 2Q19 1Q19 4Q18 Investment securities (CHF million) Debt securities available-for-sale 1,398 1,716 1,479 Total investment securities 1,398 1,716 1,479 |
Investment securities by type | Investment securities by type 2Q19 4Q18 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 2 0 0 2 Debt securities issued by foreign governments 749 12 0 761 821 7 0 828 Corporate debt securities 605 30 0 635 649 0 0 649 Debt securities available-for-sale 1,356 42 0 1,398 1,472 7 0 1,479 |
Proceeds from sales, realized gains and realized losses from available-for-sale securities | Proceeds from sales, realized gains and realized losses from debt securities available-for-sale in 6M19 6M18 Additional information – debt securities (CHF million) Proceeds from sales 4 255 Realized gains 0 8 |
Amortized cost, fair value and average yield of debt securities | Amortized cost, fair value and average yield of debt securities Debt securities Average 2Q19 (CHF million, except where indicated) Due within 1 year 744 746 0.80 Due from 1 to 5 years 2 2 3.50 Due from 5 to 10 years 610 650 0.85 Total debt securities 1,356 1,398 0.83 |
Bank | |
Investment securities | end of 6M19 2018 1 Investment securities (CHF million) Securities available-for-sale 1,396 1,477 Total investment securities 1,396 1,477 1 Previously included residential and commercial mortgage-backed securities which have been reclassified to trading assets as these securities are carried at fair value under the fair value option. |
Investment securities by type | Investment securities by type 6M19 2018 1 Gross Gross Gross Gross Investment securities by type (CHF million) Debt securities issued by foreign governments 749 12 0 761 821 7 0 828 Corporate debt securities 605 30 0 635 649 0 0 649 Debt securities available-for-sale 1,354 42 0 1,396 1,470 7 0 1,477 1 Previously included residential and commercial mortgage-backed securities which have been reclassified to trading assets as these securities are carried at fair value under the fair value option. |
Proceeds from sales, realized gains and realized losses from available-for-sale securities | Proceeds from sales, realized gains and realized losses from debt securities available-for-sale in 6M19 6M18 Additional information - debt securities (CHF million) Proceeds from sales 4 255 Realized gains 0 8 |
Amortized cost, fair value and average yield of debt securities | Amortized cost, fair value and average yield of debt securities Debt securities Average 6M19 (CHF million) Due within 1 year 744 746 0.80 Due from 5 to 10 years 610 650 0.85 Total debt securities 1,354 1,396 0.82 |
Other investments (Tables)
Other investments (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Other investments | end of 2Q19 1Q19 4Q18 Other investments (CHF million) Equity method investments 2,392 2,469 2,467 Equity securities (without a readily determinable fair value) 1 1,360 1,132 1,207 of which at net asset value 622 442 530 of which at measurement alternative 255 248 227 of which at fair value 248 205 208 of which at cost less impairment 235 237 242 Real estate held-for-investment 2 79 79 79 Life finance instruments 3 1,155 1,159 1,137 Total other investments 4,986 4,839 4,890 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 2Q19, 1Q19 and 4Q18, real estate held for investment included foreclosed or repossessed real estate of CHF 3 million, all related to residential real estate. 3 Includes life settlement contracts at investment method and single premium immediate annuity contracts. |
Impairments and adjustments on equity securities at measurement alternative | Equity securities at measurement alternative – impairments and adjustments in / end of 6M19 Cumulative 6M18 Impairments and adjustments (CHF million) Impairments and downward adjustments 0 (7) (3) Upward adjustments 11 11 0 |
Bank | |
Other investments | end of 6M19 2018 Other investments (CHF million) Equity method investments 2,380 2,429 Equity securities (without a readily determinable fair value) 1 1,356 1,202 of which at net asset value 620 526 of which at measurement alternative 254 227 of which at fair value 248 208 of which at cost less impairment 234 241 Real estate held-for-investment 2 55 56 Life finance instruments 3 1,155 1,137 Total other investments 4,946 4,824 1 Includes private equity, hedge funds and restricted stock investments as well as certain investments in non-marketable mutual funds for which the Bank has neither significant influence nor control over the investee. 2 As of the end of 6M19 and 2018, real estate held for investment included foreclosed or repossessed real estate of CHF 3 million, 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 6M19 Cumulative 6M18 Impairments and adjustments (CHF million) Impairments and downward adjustments 0 (7) (3) Upward adjustments 11 11 0 |
Loans, allowance for loan los_2
Loans, allowance for loan losses and credit quality (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Loans | Loans end of 2Q19 1Q19 4Q18 Loans (CHF million) Mortgages 108,919 108,701 107,845 Loans collateralized by securities 44,317 43,126 42,034 Consumer finance 4,965 4,537 3,905 Consumer 158,201 156,364 153,784 Real estate 27,857 26,865 26,727 Commercial and industrial loans 87,731 88,305 85,698 Financial institutions 16,933 18,488 18,494 Governments and public institutions 4,066 4,027 3,893 Corporate & institutional 136,587 137,685 134,812 Gross loans 294,788 294,049 288,596 of which held at amortized cost 281,951 278,744 273,723 of which held at fair value 12,837 15,305 14,873 Net (unearned income)/deferred expenses (109) (113) (113) Allowance for loan losses (882) (966) (902) Net loans 293,797 292,970 287,581 Gross loans by location (CHF million) Switzerland 163,225 161,797 160,444 Foreign 131,563 132,252 128,152 Gross loans 294,788 294,049 288,596 Impaired loan portfolio (CHF million) Non-performing loans 1,183 1,232 1,203 Non-interest-earning loans 310 324 300 Non-performing and non-interest-earning loans 1,493 1,556 1,503 Restructured loans 274 282 299 Potential problem loans 268 310 390 Other impaired loans 542 592 689 Gross impaired loans 2,035 2,148 2,192 |
Allowance for loan losses | Allowance for loan losses by loan portfolio 2Q19 1Q19 2Q18 Corporate & Corporate & Corporate & Allowance for loan losses (CHF million) Balance at beginning of period 181 785 966 187 715 902 204 654 858 Net movements recognized in statements of operations 10 5 15 12 63 75 16 44 60 Gross write-offs (25) (87) (112) (23) (6) (29) (15) (27) (42) Recoveries 2 10 12 1 2 3 2 8 10 Net write-offs (23) (77) (100) (22) (4) (26) (13) (19) (32) Provisions for interest 3 7 10 2 9 11 4 3 7 Foreign currency translation impact and other adjustments, net 0 (9) (9) 2 2 4 2 10 12 Balance at end of period 171 711 882 181 785 966 213 692 905 of which individually evaluated for impairment 130 446 576 140 509 649 172 474 646 of which collectively evaluated for impairment 41 265 306 41 276 317 41 218 259 Gross loans held at amortized cost (CHF million) Balance at end of period 158,176 123,775 281,951 156,339 122,405 278,744 155,258 117,711 272,969 of which individually evaluated for impairment 1 648 1,387 2,035 671 1,477 2,148 633 1,469 2,102 of which collectively evaluated for impairment 157,528 122,388 279,916 155,668 120,928 276,596 154,625 116,242 270,867 6M19 6M18 Corporate & Corporate & Allowance for loan losses (CHF million) Balance at beginning of period 187 715 902 220 662 882 Net movements recognized in statements of operations 22 68 90 20 76 96 Gross write-offs (48) (93) (141) (39) (81) (120) Recoveries 3 12 15 5 21 26 Net write-offs (45) (81) (126) (34) (60) (94) Provisions for interest 5 16 21 6 9 15 Foreign currency translation impact and other adjustments, net 2 (7) (5) 1 5 6 Balance at end of period 171 711 882 213 692 905 1 Represents gross impaired loans both with and without a specific allowance. |
Purchases, reclassifications and sales | Purchases, reclassifications and sales 2Q19 1Q19 2Q18 Corporate & Corporate & Corporate & 1 Loans held at amortized cost (CHF million) Purchases 2 0 472 472 0 505 505 0 541 541 Reclassifications from loans held-for-sale 3 0 10 10 0 1 1 0 1 1 Reclassifications to loans held-for-sale 4 0 555 555 0 1,193 1,193 1 855 856 Sales 4 0 491 491 0 1,115 1,115 1 799 800 1 Prior period has been corrected. 2 Includes drawdowns under purchased loan commitments. 3 Includes loans previously reclassified to held-for-sale that were not sold and were reclassified back to loans held-to-maturity. 4 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 6M19 6M18 Corporate & Corporate & 1 Loans held at amortized cost (CHF million) Purchases 2 0 977 977 0 1,034 1,034 Reclassifications from loans held-for-sale 3 0 11 11 0 1 1 Reclassifications to loans held-for-sale 4 0 1,748 1,748 1 1,216 1,217 Sales 4 0 1,606 1,606 1 1,129 1,130 1 Prior period has been corrected. 2 Includes drawdowns under purchased loan commitments. 3 Includes loans previously reclassified to held-for-sale that were not sold and were reclassified back to loans held-to-maturity. 4 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 2Q19 (CHF million) Mortgages 98,707 9,844 368 108,919 Loans collateralized by securities 41,092 3,164 61 44,317 Consumer finance 2,252 2,518 170 4,940 Consumer 142,051 15,526 599 158,176 Real estate 19,909 6,898 130 26,937 Commercial and industrial loans 42,110 39,300 1,143 82,553 Financial institutions 10,789 2,125 87 13,001 Governments and public institutions 1,244 40 0 1,284 Corporate & institutional 74,052 48,363 1,360 123,775 Gross loans held at amortized cost 216,103 63,889 1,959 281,951 Value of collateral 1 196,992 49,464 1,423 247,879 4Q18 (CHF million) Mortgages 97,404 10,046 395 107,845 Loans collateralized by securities 39,281 2,676 77 42,034 Consumer finance 1,465 2,247 170 3,882 Consumer 138,150 14,969 642 153,761 Real estate 19,461 6,494 110 26,065 Commercial and industrial loans 40,872 37,633 1,268 79,773 Financial institutions 10,715 2,138 86 12,939 Governments and public institutions 1,132 53 0 1,185 Corporate & institutional 72,180 46,318 1,464 119,962 Gross loans held at amortized cost 210,330 61,287 2,106 273,723 Value of collateral 1 192,579 47,999 1,456 242,034 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 2Q19 (CHF million) Mortgages 108,394 141 80 36 268 525 108,919 Loans collateralized by securities 44,231 13 0 0 73 86 44,317 Consumer finance 4,226 463 47 50 154 714 4,940 Consumer 156,851 617 127 86 495 1,325 158,176 Real estate 26,633 133 40 66 65 304 26,937 Commercial and industrial loans 81,413 360 24 39 717 1,140 82,553 Financial institutions 12,646 264 1 4 86 355 13,001 Governments and public institutions 1,217 66 1 0 0 67 1,284 Corporate & institutional 121,909 823 66 109 868 1,866 123,775 Gross loans held at amortized cost 278,760 1,440 193 195 1,363 3,191 281,951 4Q18 (CHF million) Mortgages 107,364 155 23 10 293 481 107,845 Loans collateralized by securities 41,936 21 0 0 77 98 42,034 Consumer finance 3,383 286 35 32 146 499 3,882 Consumer 152,683 462 58 42 516 1,078 153,761 Real estate 25,914 63 4 0 84 151 26,065 Commercial and industrial loans 78,439 378 96 82 778 1,334 79,773 Financial institutions 12,768 66 1 19 3 83 1 171 12,939 Governments and public institutions 1,172 13 0 0 0 13 1,185 Corporate & institutional 118,293 520 119 85 945 1,669 119,962 Gross loans held at amortized cost 270,976 982 177 127 1,461 2,747 273,723 1 Prior period has been corrected. |
Gross impaired loans by category | Gross impaired loans by category Non-performing and Non- 2Q19 (CHF million) Mortgages 318 14 332 26 38 64 396 1 Loans collateralized by securities 61 13 74 0 0 0 74 Consumer finance 171 6 177 0 1 1 178 Consumer 550 33 583 26 39 65 648 Real estate 86 4 90 0 44 44 134 Commercial and industrial loans 503 231 734 248 183 431 1,165 Financial institutions 44 42 86 0 2 2 88 Corporate & institutional 633 277 910 248 229 477 1,387 Gross impaired loans 1,183 310 1,493 274 268 542 2,035 4Q18 (CHF million) Mortgages 304 12 316 34 72 106 422 1 Loans collateralized by securities 62 13 75 0 3 3 78 Consumer finance 170 6 176 0 1 1 177 Consumer 536 31 567 34 76 110 677 Real estate 80 4 84 0 38 38 122 Commercial and industrial loans 547 223 770 265 272 537 1,307 Financial institutions 40 42 82 0 4 4 86 Corporate & institutional 667 269 936 265 314 579 1,515 Gross impaired loans 1,203 300 1,503 299 390 689 2,192 1 As of the end of 2Q19 and 4Q18, CHF 136 million and CHF 123 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 2Q19 4Q18 Unpaid Associated Unpaid Associated CHF million Mortgages 313 297 22 278 262 21 Loans collateralized by securities 74 63 18 77 63 35 Consumer finance 175 153 90 174 154 90 Consumer 562 513 130 529 479 146 Real estate 87 79 10 82 73 10 Commercial and industrial loans 786 756 366 773 742 401 Financial institutions 87 82 70 86 84 51 Corporate & institutional 960 917 446 941 899 462 Gross impaired loans with a specific allowance 1,522 1,430 576 1,470 1,378 608 Mortgages 83 83 – 144 144 – Loans collateralized by securities 0 0 – 1 1 – Consumer finance 3 3 – 3 3 – Consumer 86 86 – 148 148 – Real estate 47 47 – 40 40 – Commercial and industrial loans 379 379 – 534 534 – Financial institutions 1 1 – 0 0 – Corporate & institutional 427 427 – 574 574 – Gross impaired loans without specific allowance 513 513 – 722 722 – Gross impaired loans 2,035 1,943 576 2,192 2,100 608 of which consumer 648 599 130 677 627 146 of which corporate & institutional 1,387 1,344 446 1,515 1,473 462 Gross impaired loan detail (continued) 2Q19 1Q19 2Q18 Interest Interest Interest CHF million Mortgages 259 1 1 272 0 0 266 1 0 Loans collateralized by securities 68 0 0 73 0 0 98 0 0 Consumer finance 173 0 0 174 1 0 177 1 1 Consumer 500 1 1 519 1 0 541 2 1 Real estate 75 1 1 67 0 0 94 0 0 Commercial and industrial loans 834 5 0 833 4 1 949 2 0 Financial institutions 94 0 0 88 1 0 47 0 0 Corporate & institutional 1,003 6 1 988 5 1 1,090 2 0 Gross impaired loans with a specific allowance 1,503 7 2 1,507 6 1 1,631 4 1 Mortgages 138 1 0 152 1 0 109 1 0 Consumer finance 4 0 0 3 0 0 2 0 0 Consumer 142 1 0 155 1 0 111 1 0 Real estate 43 0 0 42 0 0 3 1 0 Commercial and industrial loans 377 2 0 472 3 1 277 2 0 Financial institutions 9 0 0 8 0 0 0 0 0 Corporate & institutional 429 2 0 522 3 1 280 3 0 Gross impaired loans without specific allowance 571 3 0 677 4 1 391 4 0 Gross impaired loans 2,074 10 2 2,184 10 2 2,022 8 1 of which consumer 642 2 1 674 2 0 652 3 1 of which corporate & institutional 1,432 8 1 1,510 8 2 1,370 5 0 Gross impaired loan detail (continued) 6M19 6M18 Interest Interest CHF million Mortgages 264 1 1 260 1 0 Loans collateralized by securities 70 0 0 101 1 1 Consumer finance 173 1 0 177 1 1 Consumer 507 2 1 538 3 2 Real estate 71 1 1 90 0 0 Commercial and industrial loans 832 9 1 928 9 4 Financial institutions 91 1 0 46 0 0 Governments and public institutions 0 0 0 1 0 0 Corporate & institutional 994 11 2 1,065 9 4 Gross impaired loans with a specific allowance 1,501 13 3 1,603 12 6 Mortgages 143 2 0 97 2 0 Consumer finance 4 0 0 3 0 0 Consumer 147 2 0 100 2 0 Real estate 42 0 0 3 1 0 Commercial and industrial loans 424 5 1 300 5 0 Financial institutions 8 0 0 0 0 0 Corporate & institutional 474 5 1 303 6 0 Gross impaired loans without specific allowance 621 7 1 403 8 0 Gross impaired loans 2,122 20 4 2,006 20 6 of which consumer 654 4 1 638 5 2 of which corporate & institutional 1,468 16 3 1,368 15 4 |
Restructured loans held at amortized cost | Restructured loans held at amortized cost 2Q19 1Q19 2Q18 Recorded Recorded Recorded Recorded Recorded Recorded CHF million, except where indicated Mortgages 0 0 0 1 7 7 5 29 29 Commercial and industrial loans 6 14 14 0 0 0 0 0 0 Total 6 14 14 1 7 7 5 29 29 6M19 6M18 Recorded Recorded Recorded Recorded CHF million, except where indicated Mortgages 1 7 7 5 29 29 Commercial and industrial loans 6 14 14 3 15 14 Total 7 21 21 8 44 43 Restructured loans held at amortized cost that defaulted within 12 months from restructuring 2Q19 1Q19 2Q18 Number of Recorded Number of Recorded Number of Recorded CHF million, except where indicated Mortgages 0 0 1 13 0 0 Commercial and industrial loans 0 0 0 0 1 36 Total 0 0 1 13 1 36 6M19 6M18 Number of Recorded Number of Recorded CHF million, except where indicated Mortgages 1 13 0 0 Commercial and industrial loans 0 0 8 76 Total 1 13 8 76 |
Bank | |
Loans | Loans end of 6M19 2018 Loans (CHF million) Mortgages 108,919 107,845 Loans collateralized by securities 44,317 42,034 Consumer finance 4,965 3,905 Consumer 158,201 153,784 Real estate 27,857 26,727 Commercial and industrial loans 88,274 86,165 Financial institutions 22,873 23,320 Governments and public institutions 4,066 3,893 Corporate & institutional 143,070 140,105 Gross loans 301,271 293,889 of which held at amortized cost 288,434 279,016 of which held at fair value 12,837 14,873 Net (unearned income)/deferred expenses (109) (113) Allowance for loan losses (881) (901) Net loans 300,281 292,875 Gross loans by location Switzerland 169,068 165,184 Foreign 132,203 128,705 Gross loans 301,271 293,889 Impaired loans Non-performing loans 1,183 1,203 Non-interest-earning loans 298 288 Total non-performing and non-interest-earning loans 1,481 1,491 Restructured loans 274 299 Potential problem loans 268 390 Total other impaired loans 542 689 Gross impaired loans 2,023 2,180 |
Allowance for loan losses | Allowance for loan losses by loan portfolio 6M19 6M18 Corporate Corporate Allowance for loan losses (CHF million) Balance at beginning of period 187 714 901 220 661 881 Net movements recognized in statements of operations 22 68 90 20 76 96 Gross write-offs (48) (93) (141) (39) (81) (120) Recoveries 3 12 15 5 21 26 Net write-offs (45) (81) (126) (34) (60) (94) Provisions for interest 5 16 21 6 9 15 Foreign currency translation impact and other adjustments, net 2 (7) (5) 1 5 6 Balance at end of period 171 710 881 213 691 904 of which individually evaluated for impairment 130 445 575 172 473 645 of which collectively evaluated for impairment 41 265 306 41 218 259 Gross loans held at amortized cost (CHF million) Balance at end of period 158,176 130,258 288,434 155,258 123,228 278,486 of which individually evaluated for impairment 1 648 1,375 2,023 633 1,457 2,090 of which collectively evaluated for impairment 157,528 128,883 286,411 154,625 121,771 276,396 1 Represents gross impaired loans both with and without a specific allowance. |
Purchases, reclassifications and sales | Purchases, reclassifications and sales 6M19 6M18 Corporate Corporate 1 Loans held at amortized cost (CHF million) Purchases 2 0 977 977 0 1,034 1,034 Reclassifications from loans held-for-sale 3 0 11 11 0 1 1 Reclassifications to loans held-for-sale 4 0 1,748 1,748 1 1,216 1,217 Sales 4 0 1,606 1,606 1 1,129 1,130 1 Prior period has been corrected. 2 Includes drawdowns under purchased loan commitments. 3 Includes loans previously reclassified to held-for-sale that were not sold and were reclassified back to loans held-to-maturity. 4 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 6M19 (CHF million) Mortgages 98,707 9,844 368 108,919 Loans collateralized by securities 41,092 3,164 61 44,317 Consumer finance 2,252 2,518 170 4,940 Consumer 142,051 15,526 599 158,176 Real estate 19,909 6,898 130 26,937 Commercial and industrial loans 42,665 39,300 1,131 83,096 Financial institutions 16,729 2,125 87 18,941 Governments and public institutions 1,244 40 0 1,284 Corporate & institutional 80,547 48,363 1,348 130,258 Gross loans held at amortized cost 222,598 63,889 1,947 288,434 Value of collateral 1 197,038 49,464 1,411 247,913 2018 (CHF million) Mortgages 97,404 10,046 395 107,845 Loans collateralized by securities 39,281 2,676 77 42,034 Consumer finance 1,465 2,247 170 3,882 Consumer 138,150 14,969 642 153,761 Real estate 19,461 6,494 110 26,065 Commercial and industrial loans 41,352 37,633 1,256 80,241 Financial institutions 15,540 2,138 86 17,764 Governments and public institutions 1,132 53 0 1,185 Corporate & institutional 77,485 46,318 1,452 125,255 Gross loans held at amortized cost 215,635 61,287 2,094 279,016 Value of collateral 1 192,617 47,999 1,444 242,060 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 6M19 (CHF million) Mortgages 108,394 141 80 36 268 525 108,919 Loans collateralized by securities 44,231 13 0 0 73 86 44,317 Consumer finance 4,226 463 47 50 154 714 4,940 Consumer 156,851 617 127 86 495 1,325 158,176 Real estate 26,633 133 40 66 65 304 26,937 Commercial and industrial loans 81,968 360 24 39 705 1,128 83,096 Financial institutions 18,586 264 1 4 86 355 18,941 Governments and public institutions 1,217 66 1 0 0 67 1,284 Corporate & institutional 128,404 823 66 109 856 1,854 130,258 Gross loans held at amortized cost 285,255 1,440 193 195 1,351 3,179 288,434 2018 (CHF million) Mortgages 107,364 155 23 10 293 481 107,845 Loans collateralized by securities 41,936 21 0 0 77 98 42,034 Consumer finance 3,383 286 35 32 146 499 3,882 Consumer 152,683 462 58 42 516 1,078 153,761 Real estate 25,914 63 4 0 84 151 26,065 Commercial and industrial loans 78,919 378 96 82 766 1,322 80,241 Financial institutions 17,593 66 1 19 3 83 1 171 17,764 Governments and public institutions 1,172 13 0 0 0 13 1,185 Corporate & institutional 123,598 520 119 85 933 1,657 125,255 Gross loans held at amortized cost 276,281 982 177 127 1,449 2,735 279,016 1 Prior period has been corrected. |
Gross impaired loans by category | Gross impaired loans by category Non-performing and Non- 6M19 (CHF million) Mortgages 318 14 332 26 38 64 396 1 Loans collateralized by securities 61 13 74 0 0 0 74 Consumer finance 171 6 177 0 1 1 178 Consumer 550 33 583 26 39 65 648 Real estate 86 4 90 0 44 44 134 Commercial and industrial loans 503 219 722 248 183 431 1,153 Financial institutions 44 42 86 0 2 2 88 Corporate & institutional 633 265 898 248 229 477 1,375 Gross impaired loans 1,183 298 1,481 274 268 542 2,023 2018 (CHF million) Mortgages 304 12 316 34 72 106 422 1 Loans collateralized by securities 62 13 75 0 3 3 78 Consumer finance 170 6 176 0 1 1 177 Consumer 536 31 567 34 76 110 677 Real estate 80 4 84 0 38 38 122 Commercial and industrial loans 547 211 758 265 272 537 1,295 Financial institutions 40 42 82 0 4 4 86 Corporate & institutional 667 257 924 265 314 579 1,503 Gross impaired loans 1,203 288 1,491 299 390 689 2,180 1 As of the end of 6M19 and 2018, CHF 136 million and CHF 123 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 6M19 2018 Unpaid Associated Unpaid Associated CHF million Mortgages 313 297 22 278 262 21 Loans collateralized by securities 74 63 18 77 63 35 Consumer finance 175 153 90 174 154 90 Consumer 562 513 130 529 479 146 Real estate 87 79 10 82 73 10 Commercial and industrial loans 774 745 365 761 730 400 Financial institutions 87 82 70 86 84 51 Corporate & institutional 948 906 445 929 887 461 Gross impaired loans with a specific allowance 1,510 1,419 575 1,458 1,366 607 Mortgages 83 83 – 144 144 – Loans collateralized by securities 0 0 – 1 1 – Consumer finance 3 3 – 3 3 – Consumer 86 86 – 148 148 – Real estate 47 47 – 40 40 – Commercial and industrial loans 379 379 – 534 534 – Financial institutions 1 1 – 0 0 – Corporate & institutional 427 427 – 574 574 – Gross impaired loans without specific allowance 513 513 – 722 722 – Gross impaired loans 2,023 1,932 575 2,180 2,088 607 of which consumer 648 599 130 677 627 146 of which corporate & institutional 1,375 1,333 445 1,503 1,461 461 Gross impaired loan detail (continued) 6M19 6M18 Interest Interest CHF million Mortgages 264 1 1 260 1 0 Loans collateralized by securities 70 0 0 101 1 1 Consumer finance 173 1 0 177 1 1 Consumer 507 2 1 538 3 2 Real estate 71 1 1 90 0 0 Commercial and industrial loans 820 9 1 915 9 4 Financial institutions 91 1 0 46 0 0 Governments and public institutions 0 0 0 1 0 0 Corporate & institutional 982 11 2 1,052 9 4 Gross impaired loans with a specific allowance 1,489 13 3 1,590 12 6 Mortgages 143 2 0 97 2 0 Consumer finance 4 0 0 3 0 0 Consumer 147 2 0 100 2 0 Real estate 42 0 0 3 1 0 Commercial and industrial loans 424 5 1 300 5 0 Financial institutions 8 0 0 0 0 0 Corporate & institutional 474 5 1 303 6 0 Gross impaired loans without specific allowance 621 7 1 403 8 0 Gross impaired loans 2,110 20 4 1,993 20 6 of which consumer 654 4 1 638 5 2 of which corporate & institutional 1,456 16 3 1,355 15 4 |
Restructured loans held at amortized cost | Restructured loans held at amortized cost 6M19 6M18 Recorded Recorded Recorded Recorded CHF million, except where indicated Mortgages 1 7 7 5 29 29 Commercial and industrial loans 6 14 14 3 15 14 Total 7 21 21 8 44 43 Restructured loans held at amortized cost that defaulted within 12 months from restructuring 6M19 6M18 Number of Recorded Number of Recorded CHF million, except where indicated Mortgages 1 13 0 0 Commercial and industrial loans 0 0 8 76 Total 1 13 8 76 |
Goodwill (Tables)
Goodwill (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Goodwill | Investment 1 Gross amount of goodwill (CHF million) Balance at beginning of period 619 1,560 2,290 3,186 1,031 8,698 Foreign currency translation impact (7) (30) (22) (7) (10) (76) Balance at end of period 612 1,530 2,268 3,179 1,021 8,622 Accumulated impairment (CHF million) Balance at beginning of period 0 0 772 2,719 388 3,891 Balance at end of period 0 0 772 2,719 388 3,891 Net book value (CHF million) Net book value 612 1,530 1,496 460 633 4,731 6M19 Gross amount of goodwill (CHF million) Balance at beginning of period 615 1,544 2,278 3,182 1,026 8,657 Foreign currency translation impact (3) (14) (10) (3) (5) (35) Balance at end of period 612 1,530 2,268 3,179 1,021 8,622 Accumulated impairment (CHF million) Balance at beginning of period 0 0 772 2,719 388 3,891 Balance at end of period 0 0 772 2,719 388 3,891 Net book value (CHF million) Net book value 612 1,530 1,496 460 633 4,731 1 Gross amounts include goodwill of CHF 12 million related to legacy business transferred to the former Strategic Resolution Unit in 4Q15 and fully written off at the time of transfer, in addition to the divisions disclosed. |
Bank | |
Goodwill | Investment 1 Gross amount of goodwill (CHF million) Balance at beginning of period 597 1,531 2,053 2,838 916 7,947 Foreign currency translation impact (3) (13) (10) (1) (4) (31) Balance at end of period 594 1,518 2,043 2,837 912 7,916 Accumulated impairment (CHF million) Balance at beginning of period 0 0 772 2,719 388 3,891 Balance at end of period 0 0 772 2,719 388 3,891 Net book value (CHF million) Net book value 594 1,518 1,271 118 524 4,025 1 Gross amounts include goodwill of CHF 12 million related to legacy business transferred to the former Strategic Resolution Unit in 4Q15 and fully written off at the time of transfer, in addition to the divisions disclosed. |
Other assets and other liabil_2
Other assets and other liabilities (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Other assets and other liabilities | end of 2Q19 1Q19 4Q18 Other assets (CHF million) Cash collateral on derivative instruments 5,692 5,358 7,057 Cash collateral on non-derivative transactions 414 392 465 Derivative instruments used for hedging 99 86 33 Assets held-for-sale 7,005 8,371 6,744 of which loans 1 6,929 8,285 6,630 of which real estate 2 45 54 54 of which long-lived assets 31 32 60 Premises, equipment and right-of-use assets 3 7,737 8,079 4,838 Assets held for separate accounts 119 123 125 Interest and fees receivable 5,240 5,330 5,055 Deferred tax assets 4,787 4,920 4,943 Prepaid expenses 445 485 613 of which cloud computing arrangement implementation costs 9 3 – Failed purchases 1,271 1,400 1,283 Defined benefit pension and post-retirement plan assets 2,880 1,973 1,794 Other 3,890 3,984 4,509 Other assets 39,579 40,501 37,459 Other liabilities (CHF million) Cash collateral on derivative instruments 7,048 6,867 6,903 Cash collateral on non-derivative transactions 120 145 514 Derivative instruments used for hedging 11 0 8 Operating leases liabilities 3,143 3,468 – Provisions 871 1,026 928 of which off-balance sheet risk 153 155 151 Restructuring liabilities – – 346 Liabilities held for separate accounts 119 123 125 Interest and fees payable 5,545 5,126 5,159 Current tax liabilities 1,130 926 927 Deferred tax liabilities 644 456 438 Failed sales 731 735 2,187 Defined benefit pension and post-retirement plan liabilities 510 518 518 Other 10,086 10,003 12,054 Other liabilities 29,958 29,393 30,107 1 Included as of the end of 2Q19, 1Q19 and 4Q18 were CHF 717 million, CHF 705 million and CHF 687 million, respectively, in restricted loans, which represented collateral on secured borrowings. 2 As of the end of 2Q19, 1Q19 and 4Q18, real estate held-for-sale included foreclosed or repossessed real estate of CHF 11 million, CHF 13 million and CHF 13 million, respectively, of which CHF 8 million, CHF 10 million and CHF 10 million, respectively were related to residential real estate. 3 Premises and equipment were previously presented separately in the consolidated balance sheet. |
Premises, equipment and right-of-use assets | Premises, equipment and right-of-use assets end of 2Q19 1Q19 4Q18 Premises and equipment (CHF million) Buildings and improvements 1,582 1,601 1,617 Land 335 344 347 Leasehold improvements 1,852 1,910 1,880 Software 6,260 6,115 5,909 Equipment 1,805 1,846 1,805 Premises and equipment 11,834 11,816 11,558 Accumulated depreciation (7,056) (6,948) (6,720) Total premises and equipment, net 4,778 4,868 4,838 Right-of-use assets (CHF million) Operating leases 2,959 3,211 – Right-of-use assets 2,959 3,211 – Total premises, equipment and right-of-use assets 7,737 8,079 4,838 |
Bank | |
Other assets and other liabilities | end of 6M19 2018 Other assets (CHF million) Cash collateral on derivative instruments 5,693 7,057 Cash collateral on non-derivative transactions 414 465 Derivative instruments used for hedging 99 33 Assets held-for-sale 7,005 6,744 of which loans 1 6,929 6,630 of which real estate 2 45 54 of which long-lived assets 31 60 Premises, equipment and right-of-use assets 3 6,586 4,530 Assets held for separate accounts 119 125 Interest and fees receivable 5,920 5,506 Deferred tax assets 4,725 4,887 Prepaid expenses 373 560 of which cloud computing arrangement implementation costs 8 – Failed purchases 1,271 1,283 Defined benefit pension and post-retirement plan assets 999 1,001 Other 3,889 4,482 Other assets 37,093 36,673 Other liabilities (CHF million) Cash collateral on derivative instruments 7,048 6,903 Cash collateral on non-derivative transactions 120 514 Derivative instruments used for hedging 11 8 Operating leases liabilities 2,311 – Provisions 863 920 of which off-balance sheet risk 153 151 Restructuring liabilities – 342 Liabilities held for separate accounts 119 125 Interest and fees payable 6,138 5,521 Current tax liabilities 1,120 907 Deferred tax liabilities 246 268 Failed sales 731 2,187 Defined benefit pension and post-retirement plan liabilities 510 518 Other 10,184 12,114 Other liabilities 29,401 30,327 1 Included as of the end of 6M19 and 2018 were CHF 717 million and CHF 687 million, respectively, in restricted loans, which represented collateral on secured borrowings. 2 As of the end of 6M19 and 2018, real estate held-for-sale included foreclosed or repossessed real estate of CHF 11 million and CHF 13 million, respectively, of which CHF 8 million and CHF 10 million, respectively, were related to residential real estate. 3 Premises and equipment were previously presented separately in the consolidated balance sheet. |
Premises, equipment and right-of-use assets | Premises, equipment and right-of-use assets end of 6M19 2018 Premises and equipment (CHF million) Buildings and improvements 1,560 1,595 Land 335 347 Leasehold improvements 1,711 1,752 Software 6,022 5,715 Equipment 1,114 1,136 Premises and equipment 10,742 10,545 Accumulated depreciation (6,313) (6,015) Total premises and equipment, net 4,429 4,530 Right-of-use assets (CHF million) Operating leases 2,157 – Right-of-use assets 2,157 – Total premises, equipment and right-of-use assets 6,586 4,530 |
Leases (Tables)
Leases (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Lease, Cost [Table Text Block] | Lease costs in 2Q19 1Q19 6M19 Lease costs (CHF million) Operating lease costs 94 114 208 Variable lease costs 10 2 12 Sublease income (18) (18) (36) Total lease costs 86 98 184 |
Lease, Other information pertaining to leases [Table Text Block] | Other information pertaining to leases in 2Q19 1Q19 6M19 Other information (CHF million) Gains/(losses) on sale and leaseback transactions 75 30 105 Cash paid for amounts included in the measurement of operating lease liabilities recorded in operating cash flows (105) (141) (246) Right-of-use assets obtained in exchange of new operating lease liabilities 1 56 13 69 Changes to right-of-use assets due to lease modifications for operating leases (14) (1) (15) 1 Includes right-of-use assets relating to changes in classification of scope of variable interest entities. |
Lease, Weighted average remaining lease term and discount rate [Table Text Block] | Weighted average remaining lease term and discount rate end of 2Q19 Operating leases Remaining lease term (years) 12.70 Discount rate (%) 2.98 |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Maturity of operating lease liabilities end of 2Q19 Maturity (CHF million) Due within 1 year 482 Due between 1 and 2 years 419 Due between 2 and 3 years 346 Due between 3 and 4 years 316 Due between 4 and 5 years 281 Thereafter 1,944 Total 3,788 Future interest payable (645) Lease liabilities 3,143 Maturity of operating lease commitments end of 4Q18 Maturity (CHF million) 2019 503 2020 484 2021 381 2022 354 2023 320 Thereafter 2,209 Future operating lease commitments 4,251 Less minimum non-cancellable sublease rentals (190) Total net future minimum lease commitments 4,061 |
Lessor, Lease income [Table Text Block] | Lease income in 2Q19 1Q19 6M19 Lease income (CHF million) Interest income on sales-type lease receivables 1 1 2 Interest income on direct financing lease receivables 26 27 53 Lease income from operating leases 18 18 36 Variable lease income 2 1 3 Total lease income 47 47 94 |
Lessor, Net investment in leases [Table Text Block] | Net investment in leases Sales- Direct Net investment (CHF million) Lease receivables 169 3,414 Impairment recognized (1) (21) Total net investment 168 3,393 |
Maturities relating to lessor arrangements [Table Text Block] | Maturities relating to lessor arrangements Sales- Direct Maturity (CHF million) Due within 1 year 75 1,323 38 Due between 1 and 2 years 44 908 28 Due between 2 and 3 years 31 727 25 Due between 3 and 4 years 21 531 24 Due between 4 and 5 years 10 193 23 Thereafter 11 269 75 Total 192 3,951 213 Future interest receivable (23) (537) – Lease receivables 169 3,414 – |
Bank | |
Lease, Cost [Table Text Block] | Lease costs in 6M19 Lease costs (CHF million) Operating lease costs 174 Variable lease costs 11 Sublease income (44) Total lease costs 141 |
Lease, Other information pertaining to leases [Table Text Block] | Other information pertaining to leases in 6M19 Other information (CHF million) Gains/(losses) on sale and leaseback transactions 105 Cash paid for amounts included in the measurement of operating lease liabilities recorded in operating cash flows (212) Right-of-use assets obtained in exchange of new operating lease liabilities 1 68 Changes to right-of-use assets due to lease modifications for operating leases (15) 1 Includes right-of-use assets relating to changes in classification of scope of variable interest entities. |
Lease, Weighted average remaining lease term and discount rate [Table Text Block] | Weighted average remaining lease term and discount rate end of 6M19 Operating leases Remaining lease term (years) 11.18 Discount rate (%) 3.21 |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Maturity of operating lease liabilities end of 6M19 Maturity (CHF million) Due within 1 year 415 Due between 1 and 2 years 353 Due between 2 and 3 years 281 Due between 3 and 4 years 251 Due between 4 and 5 years 221 Thereafter 1,270 Total 2,791 Future interest payable (480) Lease liabilities 2,311 Maturity of operating lease commitments end of 4Q18 Maturity (CHF million) 2019 435 2020 416 2021 314 2022 286 2023 256 Thereafter 1,479 Future operating lease commitments 3,186 Less minimum non-cancellable sublease rentals (436) Total net future minimum lease commitments 2,750 |
Lessor, Lease income [Table Text Block] | Lessor arrangements Lease income in 6M19 Lease income (CHF million) Interest income on sales-type lease receivables 2 Interest income on direct financing lease receivables 53 Lease income from operating leases 44 Variable lease income 3 Total lease income 102 |
Lessor, Net investment in leases [Table Text Block] | Net investment in leases Sales- Direct Net investment (CHF million) Lease receivables 169 3,414 Impairment recognized (1) (21) Total net investment 168 3,393 |
Maturities relating to lessor arrangements [Table Text Block] | Maturities relating to lessor arrangements Sales- Direct Maturity (CHF million) Due within 1 year 75 1,323 50 Due between 1 and 2 years 44 908 40 Due between 2 and 3 years 31 727 37 Due between 3 and 4 years 21 531 36 Due between 4 and 5 years 10 193 36 Thereafter 11 269 203 Total 192 3,951 402 Future interest receivable (23) (537) – Lease receivables 169 3,414 – |
Long-term debt (Tables)
Long-term debt (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Long-term debt | Long-term debt end of 2Q19 1Q19 4Q18 Long-term debt (CHF million) Senior 138,349 141,334 136,392 Subordinated 17,535 16,811 16,152 Non-recourse liabilities from consolidated VIEs 2,071 2,116 1,764 Long-term debt 157,955 160,261 154,308 of which reported at fair value 71,648 69,411 63,935 of which structured notes 51,145 51,735 48,064 |
Schedule of Structured notes | Structured notes by product end of 2Q19 1Q19 4Q18 Structured notes by product (CHF million) Equity 32,149 33,076 30,698 Fixed income 14,893 14,436 13,128 Credit 3,695 3,848 3,898 Other 408 375 340 Total structured notes 51,145 51,735 48,064 |
Bank | |
Long-term debt | Long-term debt end of 6M19 2018 Long-term debt (CHF million) Senior 138,421 136,445 Subordinated 16,526 15,224 Non-recourse liabilities from consolidated VIEs 2,071 1,764 Long-term debt 157,018 153,433 of which reported at fair value 70,703 63,027 of which structured notes 51,145 48,064 |
Schedule of Structured notes | Structured notes by product end of 6M19 2018 Structured notes by product (CHF million) Equity 32,149 30,698 Fixed income 14,893 13,128 Credit 3,695 3,898 Other 408 340 Total structured notes 51,145 48,064 |
Accumulated other comprehensi_2
Accumulated other comprehensive income (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Accumulated other comprehensive income | Accumulated other comprehensive income/(loss) Gains/ 2Q19 (CHF million) Balance at beginning of period (26) (13,245) 24 (3,956) 363 (2,033) (18,873) Increase/(decrease) 45 (589) 12 323 338 (312) (183) Increase/(decrease) due to equity method investments (3) 0 0 0 0 0 (3) Reclassification adjustments, included in net income/(loss) 1 0 0 63 (32) 81 113 Total increase/(decrease) 43 (589) 12 386 306 (231) (73) Balance at end of period 17 (13,834) 36 (3,570) 669 (2,264) (18,946) 1Q19 (CHF million) Balance at beginning of period (72) (13,442) 10 (3,974) 387 (890) (17,981) Increase/(decrease) 47 195 14 0 0 (1,151) (895) Increase/(decrease) due to equity method investments (4) 0 0 0 0 0 (4) Reclassification adjustments, included in net income/(loss) 3 2 0 60 (24) 30 71 Cumulative effect of accounting changes, net of tax 1 0 0 0 (42) 0 (22) (64) Total increase/(decrease) 46 197 14 18 (24) (1,143) (892) Balance at end of period (26) (13,245) 24 (3,956) 363 (2,033) (18,873) 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) 6M19 (CHF million) Balance at beginning of period (72) (13,442) 10 (3,974) 387 (890) (17,981) Increase/(decrease) 92 (394) 26 323 338 (1,463) (1,078) Increase/(decrease) due to equity method investments (7) 0 0 0 0 0 (7) Reclassification adjustments, included in net income/(loss) 4 2 0 123 (56) 111 184 Cumulative effect of accounting changes, net of tax 1 0 0 0 (42) 0 (22) (64) Total increase/(decrease) 89 (392) 26 404 282 (1,374) (965) Balance at end of period 17 (13,834) 36 (3,570) 669 (2,264) (18,946) 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) 1 Reflects the reclassification from AOCI to retained earnings as a result of the adoption of ASU 2018-02. Refer to "Note 2 - Recently issued accounting standards" for further information. |
Details on significant reclassification adjustments | Details on significant reclassification adjustments in 2Q19 1Q19 2Q18 6M19 6M18 Reclassification adjustments, included in net income/(loss) (CHF million) Cumulative translation adjustments Reclassification adjustments 0 2 (2) 2 (2) Actuarial gains/(losses) Amortization of recognized actuarial losses 1 80 76 90 156 178 Tax expense/(benefit) (17) (16) (18) (33) (36) Net of tax 63 60 72 123 142 Net prior service credit/(cost) Amortization of recognized prior service credit/(cost) 1 (41) (30) (37) (71) (76) Tax expense 9 6 8 15 16 Net of tax (32) (24) (29) (56) (60) 1 These components are included in the computation of total benefit costs. Refer to "Note 27 – Pension and other post-retirement benefits" for further information. |
Additional share information | Additional share information 2Q19 1Q19 2Q18 6M19 6M18 Common shares issued Balance at beginning of period 2,556,011,720 2,556,011,720 2,556,011,720 2,556,011,720 2,556,011,720 Balance at end of period 2,556,011,720 2,556,011,720 2,556,011,720 2,556,011,720 2,556,011,720 Treasury shares Balance at beginning of period (48,217,358) (5,427,691) (16,413,030) (5,427,691) (5,757,666) Sale of treasury shares 153,739,570 238,506,125 173,383,973 392,245,695 371,216,190 Repurchase of treasury shares (190,464,698) (282,969,737) (205,279,026) (473,434,435) (415,339,165) Share-based compensation 36,705,356 1,673,945 42,340,132 38,379,301 43,912,690 Balance at end of period (48,237,130) (48,217,358) (5,967,951) (48,237,130) (5,967,951) Common shares outstanding Balance at end of period 2,507,774,590 1 2,507,794,362 1 2,550,043,769 2 2,507,774,590 1 2,550,043,769 2 1 At par value CHF 0.04 each, fully paid. In addition to the treasury shares, a maximum of 653,000,000 unissued shares (conditional, conversion and authorized capital) were available for issuance without further approval of the shareholders. 111,193,477 of these shares were reserved for capital instruments. 2 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) Unrealized Gains/ 6M19 (CHF million) Balance at beginning of period (58) (13,573) 9 (350) (8) (860) (14,840) Increase/(decrease) 93 (384) 27 0 0 (1,349) (1,613) Reclassification adjustments, included in net income/(loss) 0 0 0 8 0 111 119 Cumulative effect of accounting changes, net of tax 1 0 0 0 (42) 0 (22) (64) Total increase/(decrease) 93 (384) 27 (34) 0 (1,260) (1,558) Balance at end of period 35 (13,957) 36 (384) (8) (2,120) (16,398) 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) 1 Reflects the reclassification from AOCI to retained earnings as a result of the adoption of ASU 2018-02. Refer to "Note 2 - Recently issued accounting standards" for further information. |
Details on significant reclassification adjustments | Details on significant reclassification adjustments in 6M19 6M18 Reclassification adjustments, included in net income/(loss) (CHF million) Cumulative translation adjustments Reclassification adjustments 0 (2) Actuarial gains/(losses) Amortization of recognized actuarial losses 1 10 26 Tax expense/(benefit) (2) (4) Net of tax 8 22 1 These components are included in the computation of total benefit costs. Refer to "Note 26 – Pension and other post-retirement benefits" for further information. |
Offsetting of financial asset_2
Offsetting of financial assets and financial liabilities (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Offsetting of derivatives | Offsetting of derivatives 2Q19 4Q18 Derivative Derivative Derivative Derivative Gross derivatives subject to enforceable master netting agreements (CHF billion) OTC-cleared 5.1 4.2 5.5 4.8 OTC 73.4 68.4 63.4 60.6 Exchange-traded 0.4 0.4 0.2 0.3 Interest rate products 78.9 73.0 69.1 65.7 OTC-cleared 0.2 0.2 0.1 0.2 OTC 22.3 26.8 26.9 31.1 Foreign exchange products 22.5 27.0 27.0 31.3 OTC 10.7 9.2 10.2 10.2 Exchange-traded 11.1 12.3 11.8 14.2 Equity/index-related products 21.8 21.5 22.0 24.4 OTC-cleared 3.4 3.5 1.5 1.6 OTC 3.5 4.7 3.8 4.9 Credit derivatives 6.9 8.2 5.3 6.5 OTC 1.2 0.7 1.2 0.4 Exchange-traded 0.0 0.0 0.1 0.3 Other products 1 1.2 0.7 1.3 0.7 OTC-cleared 8.7 7.9 7.1 6.6 OTC 111.1 109.8 105.5 107.2 Exchange-traded 11.5 12.7 12.1 14.8 Total gross derivatives subject to enforceable master netting agreements 131.3 130.4 124.7 128.6 Offsetting (CHF billion) OTC-cleared (7.2) (6.7) (5.9) (5.8) OTC (97.7) (101.4) (92.6) (99.0) Exchange-traded (11.1) (11.3) (11.6) (12.5) Offsetting (116.0) (119.4) (110.1) (117.3) of which counterparty netting (99.9) (99.9) (96.9) (96.9) of which cash collateral netting (16.1) (19.5) (13.2) (20.4) Net derivatives presented in the consolidated balance sheets (CHF billion) OTC-cleared 1.5 1.2 1.2 0.8 OTC 13.4 8.4 12.9 8.2 Exchange-traded 0.4 1.4 0.5 2.3 Total net derivatives subject to enforceable master netting agreements 15.3 11.0 14.6 11.3 Total derivatives not subject to enforceable master netting agreements 2 4.4 3.8 3.7 3.9 Total net derivatives presented in the consolidated balance sheets 19.7 14.8 18.3 15.2 of which recorded in trading assets and trading liabilities 19.6 14.8 18.3 15.2 of which recorded in other assets and other liabilities 0.1 0.0 0.0 0.0 1 Primarily precious metals, commodity and energy products. 2 Represents derivatives where a legal opinion supporting the enforceability of netting in the event of default or termination under the agreement is not in place. |
Offsetting of securities purchased under resale agreements and securities borrowing transactions | Offsetting of securities purchased under resale agreements and securities borrowing transactions 2Q19 4Q18 Net Net Securities purchased under resale agreements and securities borrowing transactions (CHF billion) Securities purchased under resale agreements 83.0 (13.6) 69.4 86.6 (20.9) 65.7 Securities borrowing transactions 15.1 (0.8) 14.3 12.6 (2.2) 10.4 Total subject to enforceable master netting agreements 98.1 (14.4) 83.7 99.2 (23.1) 76.1 Total not subject to enforceable master netting agreements 1 29.8 – 29.8 41.0 – 41.0 Total 127.9 (14.4) 113.5 2 140.2 (23.1) 117.1 2 1 Represents securities purchased under resale agreements and securities borrowing transactions where a legal opinion supporting the enforceability of netting in the event of default or termination under the agreement is not in place. 2 CHF 82,286 million and CHF 81,818 million of the total net amount as of the end of 2Q19 and 4Q18, 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 2Q19 4Q18 Net Net Securities sold under repurchase agreements and securities lending transactions (CHF billion) Securities sold under repurchase agreements 27.7 (14.4) 13.3 42.3 (22.5) 19.8 Securities lending transactions 3.9 0.0 3.9 4.2 (0.6) 3.6 Obligation to return securities received as collateral, at fair value 44.6 0.0 44.6 39.4 0.0 39.4 Total subject to enforceable master netting agreements 76.2 (14.4) 61.8 85.9 (23.1) 62.8 Total not subject to enforceable master netting agreements 1 2.4 – 2.4 3.5 – 3.5 Total 78.6 (14.4) 64.2 89.4 (23.1) 66.3 of which securities sold under repurchase agreements and securities lending transactions 33.2 (14.4) 18.8 2 47.7 (23.1) 24.6 2 of which obligation to return securities received as collateral, at fair value 45.4 0.0 45.4 41.7 0.0 41.7 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 9,195 million and CHF 14,828 million of the total net amount as of the end of 2Q19 and 4Q18, respectively, are reported at fair value. |
Amounts not offset in the consolidated balance sheets | Amounts not offset in the consolidated balance sheets 2Q19 4Q18 1 Cash 1 1 Cash 1 Financial assets subject to enforceable master netting agreements (CHF billion) Derivatives 15.3 4.9 0.0 10.4 14.6 4.5 0.1 10.0 Securities purchased under resale agreements 69.4 69.4 0.0 0.0 65.7 65.7 0.0 0.0 Securities borrowing transactions 14.3 13.7 0.0 0.6 10.4 10.0 0.0 0.4 Total financial assets subject to enforceable master netting agreements 99.0 88.0 0.0 11.0 90.7 80.2 0.1 10.4 Financial liabilities subject to enforceable master netting agreements (CHF billion) Derivatives 11.0 1.4 0.0 9.6 11.3 1.4 0.0 9.9 Securities sold under repurchase agreements 13.3 13.3 0.0 0.0 19.8 19.7 0.1 0.0 Securities lending transactions 3.9 3.5 0.0 0.4 3.6 3.2 0.0 0.4 Obligation to return securities received as collateral, at fair value 44.6 37.8 0.0 6.8 39.4 34.3 0.0 5.1 Total financial liabilities subject to enforceable master netting agreements 72.8 56.0 0.0 16.8 74.1 58.6 0.1 15.4 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 6M19 2018 Derivative Derivative Derivative Derivative Gross derivatives subject to enforceable master netting agreements (CHF billion) OTC-cleared 5.1 4.2 5.5 4.8 OTC 73.4 68.4 63.4 60.7 Exchange-traded 0.4 0.4 0.2 0.3 Interest rate products 78.9 73.0 69.1 65.8 OTC-cleared 0.2 0.2 0.1 0.2 OTC 22.3 26.8 26.9 31.2 Foreign exchange products 22.5 27.0 27.0 31.4 OTC 10.7 9.2 10.2 10.3 Exchange-traded 11.1 12.3 11.8 14.2 Equity/index-related products 21.8 21.5 22.0 24.5 OTC-cleared 3.4 3.5 1.5 1.6 OTC 3.5 4.7 3.8 4.9 Credit derivatives 6.9 8.2 5.3 6.5 OTC 1.2 0.7 1.3 0.5 Other products 1 1.2 0.7 1.3 0.5 OTC-cleared 8.7 7.9 7.1 6.6 OTC 111.1 109.8 105.6 107.6 Exchange-traded 11.5 12.7 12.0 14.5 Total gross derivatives subject to enforceable master netting agreements 131.3 130.4 124.7 128.7 Offsetting (CHF billion) OTC-cleared (7.2) (6.7) (6.0) (5.8) OTC (97.7) (101.4) (92.5) (99.1) Exchange-traded (11.1) (11.3) (11.6) (12.5) Offsetting (116.0) (119.4) (110.1) (117.4) of which counterparty netting (99.9) (99.9) (96.9) (96.9) of which cash collateral netting (16.1) (19.5) (13.2) (20.5) Net derivatives presented in the consolidated balance sheets (CHF billion) OTC-cleared 1.5 1.2 1.1 0.8 OTC 13.4 8.4 13.1 8.5 Exchange-traded 0.4 1.4 0.4 2.0 Total net derivatives subject to enforceable master netting agreements 15.3 11.0 14.6 11.3 Total derivatives not subject to enforceable master netting agreements 2 4.4 3.8 3.8 3.9 Total net derivatives presented in the consolidated balance sheets 19.7 14.8 18.4 15.2 of which recorded in trading assets and trading liabilities 19.6 14.8 18.4 15.2 of which recorded in other assets and other liabilities 0.1 0.0 0.0 0.0 1 Primarily precious metals, commodity and energy products. 2 Represents derivatives where a legal opinion supporting the enforceability of netting in the event of default or termination under the agreement is not in place. |
Offsetting of securities purchased under resale agreements and securities borrowing transactions | Offsetting of securities purchased under resale agreements and securities borrowing transactions 6M19 2018 Net Net Securities purchased under resale agreements and securities borrowing transactions (CHF billion) Securities purchased under resale agreements 83.0 (13.6) 69.4 86.6 (20.9) 65.7 Securities borrowing transactions 15.1 (0.8) 14.3 12.6 (2.2) 10.4 Total subject to enforceable master netting agreements 98.1 (14.4) 83.7 99.2 (23.1) 76.1 Total not subject to enforceable master netting agreements 1 29.8 – 29.8 41.0 – 41.0 Total 127.9 (14.4) 113.5 2 140.2 (23.1) 117.1 2 1 Represents securities purchased under resale agreements and securities borrowing transactions where a legal opinion supporting the enforceability of netting in the event of default or termination under the agreement is not in place. 2 CHF 82,286 million and CHF 81,818 million of the total net amount as of the end of 6M19 and 2018, 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 6M19 2018 Net Net Securities sold under repurchase agreements and securities lending transactions (CHF billion) Securities sold under repurchase agreements 27.8 (14.4) 13.4 42.3 (22.5) 19.8 Securities lending transactions 3.9 0.0 3.9 4.2 (0.6) 3.6 Obligation to return securities received as collateral, at fair value 44.6 0.0 44.6 39.4 0.0 39.4 Total subject to enforceable master netting agreements 76.3 (14.4) 61.9 85.9 (23.1) 62.8 Total not subject to enforceable master netting agreements 1 2.4 – 2.4 3.5 – 3.5 Total 78.7 (14.4) 64.3 89.4 (23.1) 66.3 of which securities sold under repurchase agreements and securities lending transactions 33.3 (14.4) 18.9 2 47.7 (23.1) 24.6 2 of which obligation to return securities received as collateral, at fair value 45.4 0.0 45.4 41.7 0.0 41.7 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 9,304 million and CHF 14,828 million of the total net amount as of the end of 6M19 and 2018, respectively, are reported at fair value. |
Amounts not offset in the consolidated balance sheets | Amounts not offset in the consolidated balance sheets 6M19 2018 1 Cash 1 1 Cash 1 Financial assets subject to enforceable master netting agreements (CHF billion) Derivatives 15.3 4.9 0.0 10.4 14.6 4.5 0.1 10.0 Securities purchased under resale agreements 69.4 69.4 0.0 0.0 65.7 65.7 0.0 0.0 Securities borrowing transactions 14.3 13.7 0.0 0.6 10.4 10.0 0.0 0.4 Total financial assets subject to enforceable master netting agreements 99.0 88.0 0.0 11.0 90.7 80.2 0.1 10.4 Financial liabilities subject to enforceable master netting agreements (CHF billion) Derivatives 11.0 1.4 0.0 9.6 11.3 1.4 0.0 9.9 Securities sold under repurchase agreements 13.4 13.4 0.0 0.0 19.8 19.7 0.1 0.0 Securities lending transactions 3.9 3.5 0.0 0.4 3.6 3.2 0.0 0.4 Obligation to return securities received as collateral, at fair value 44.6 37.8 0.0 6.8 39.4 34.3 0.0 5.1 Total financial liabilities subject to enforceable master netting agreements 72.9 56.1 0.0 16.8 74.1 58.6 0.1 15.4 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, 2019 | |
Reconciliation of taxes computed at the Swiss statutory rate | Tax expense reconciliation in 2Q19 CHF million Income tax expense computed at the Swiss statutory tax rate of 22% 286 Increase/(decrease) in income taxes resulting from Foreign tax rate differential (24) Other non-deductible expenses 61 Changes in deferred tax valuation allowance 8 Lower taxed income (30) (Windfall tax benefits)/shortfall tax charges on share-based compensation 33 Other 31 Income tax expense 365 |
Effective tax rate | Effective tax rate in 2Q19 1Q19 2Q18 6M19 6M18 Effective tax rate (%) 28.0 29.5 37.8 28.7 36.1 |
Net deferred tax assets | Net deferred tax assets end of 2Q19 1Q19 Net deferred tax assets (CHF million) Deferred tax assets 4,787 4,920 of which net operating losses 1,678 1,614 of which deductible temporary differences 3,109 3,306 Deferred tax liabilities (644) (456) Net deferred tax assets 4,143 4,464 |
Bank | |
Reconciliation of taxes computed at the Swiss statutory rate | Effective tax rate in 6M19 6M18 Effective tax rate (%) 31.0 33.3 Tax expense reconciliation in 6M19 CHF million Income tax expense computed at the statutory tax rate of 22% 497 Increase/(decrease) in income taxes resulting from Foreign tax rate differential (22) Other non-deductible expenses 146 Changes in deferred tax valuation allowance (24) Lower taxed income (47) (Windfall tax benefits)/shortfall tax charges on share-based compensation 33 Other 118 Income tax expense 701 |
Net deferred tax assets | Net deferred tax assets end of 6M19 2018 Net deferred tax assets (CHF million) Deferred tax assets 4,725 4,887 of which net operating losses 1,655 1,632 of which deductible temporary differences 3,070 3,255 Deferred tax liabilities (246) (268) Net deferred tax assets 4,479 4,619 |
Employee deferred compensation
Employee deferred compensation (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Share-based compensation disclosures | |
Deferred compensation expense | Deferred compensation expense in 2Q19 1Q19 2Q18 6M19 6M18 Deferred compensation expense (CHF million) Share awards 150 151 130 301 278 Performance share awards 122 108 92 230 201 Contingent Capital Awards 83 77 42 160 94 Contingent Capital share awards 0 0 0 0 1 Other cash awards 97 94 106 1 191 163 1 Total deferred compensation expense 452 430 370 1 882 737 1 1 Prior period has been corrected. |
Additional information | Estimated unrecognized deferred compensation end of 2Q19 Estimated unrecognized compensation expense (CHF million) Share awards 780 Performance share awards 436 Contingent Capital Awards 288 Other cash awards 307 Total 1,811 Weighted-average requisite service period (years) Aggregate remaining weighted-average requisite service period 1.2 |
Share-based award activities | Share-based award activity 2Q19 6M19 Performance Contingent Performance Contingent Share-based award activities Balance at beginning of period 139.2 97.7 3.4 83.2 51.7 3.4 Granted 6.1 0.0 0.0 65.3 46.1 0.0 Settled (31.4) (19.6) (3.3) (34.2) (19.6) (3.3) Forfeited (1.2) (0.6) 0.0 (1.6) (0.7) 0.0 Balance at end of period 112.7 77.5 0.1 112.7 77.5 0.1 of which vested 9.5 7.0 0.1 9.5 7.0 0.1 of which unvested 103.2 70.5 0.0 103.2 70.5 0.0 |
Bank | |
Share-based compensation disclosures | |
Deferred compensation expense | Deferred compensation expense in 6M19 6M18 Deferred compensation expense (CHF million) Share awards 294 270 Performance share awards 223 195 Contingent Capital Awards 156 92 Contingent Capital share awards 0 1 Other cash awards 173 157 1 Total deferred compensation expense 846 715 1 1 Prior period has been restated. |
Additional information | Estimated unrecognized deferred compensation end of 6M19 Estimated unrecognized compensation expense (CHF million) Share awards 758 Performance share awards 419 Contingent Capital Awards 280 Other cash awards 269 Total 1,726 Weighted-average requisite service period (years) Aggregate remaining weighted-average requisite service period 1.2 |
Share-based award activities | Share-based award activity 6M19 Performance Contingent Share-based award activities Balance at beginning of period 77.1 50.0 2.7 Granted 61.1 44.7 0.0 Settled (32.7) (19.2) (2.6) Forfeited (1.7) (0.9) 0.0 Balance at end of period 103.8 74.6 0.1 of which vested 8.9 6.6 0.1 of which unvested 94.9 68.0 0.0 |
Pension and other post-retire_2
Pension and other post-retirement benefits (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Components of total pension costs | Components of net periodic benefit costs in 2Q19 1Q19 2Q18 6M19 6M18 Net periodic benefit costs/(credits) (CHF million) Service costs on benefit obligation 68 67 65 135 130 Interest costs on benefit obligation 34 46 39 80 78 Expected return on plan assets (126) (125) (150) (251) (299) Amortization of recognized prior service cost/(credit) (41) (30) (31) (71) (63) Amortization of recognized actuarial losses 80 76 90 156 179 Settlement losses/(gains) 0 0 0 0 (1) Curtailment losses/(gains) 0 0 (6) 0 (13) Special termination benefits 2 8 10 10 17 Net periodic benefit costs 17 42 17 59 28 Service costs on benefit obligation are reflected in compensation and benefits. Other components of net periodic benefit costs are reflected in general and administrative expenses or, until the end of 4Q18, in restructuring expenses. |
Bank | |
Components of total pension costs | Components of net periodic benefit costs in 6M19 6M18 Net periodic benefit costs/(credits) (CHF million) Service costs on benefit obligation 8 8 Interest costs on benefit obligation 50 47 Expected return on plan assets (55) (58) Amortization of recognized actuarial losses 10 26 Net periodic benefit costs 13 23 Service costs on benefit obligation are reflected in compensation and benefits. Other components of net periodic benefit costs are reflected in general and administrative expenses or, until the end of 2018, in restructuring expenses. |
Derivatives and hedging activ_2
Derivatives and hedging activities (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
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 8,664.3 2.0 1.9 0.0 0.0 0.0 Swaps 11,949.8 56.8 51.0 101.8 0.2 0.1 Options bought and sold (OTC) 1,749.7 20.7 20.2 0.0 0.0 0.0 Futures 305.3 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 232.5 0.4 0.4 0.0 0.0 0.0 Interest rate products 22,901.6 79.9 73.5 101.8 0.2 0.1 Forwards 1,080.0 7.3 8.2 12.5 0.1 0.1 Swaps 426.5 12.8 16.0 0.0 0.0 0.0 Options bought and sold (OTC) 319.1 3.2 3.7 0.0 0.0 0.0 Futures 7.0 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 0.4 0.0 0.0 0.0 0.0 0.0 Foreign exchange products 1,833.0 23.3 27.9 12.5 0.1 0.1 Forwards 0.8 0.1 0.0 0.0 0.0 0.0 Swaps 162.8 4.3 4.1 0.0 0.0 0.0 Options bought and sold (OTC) 234.5 8.1 6.6 0.0 0.0 0.0 Futures 48.8 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 423.0 11.2 12.5 0.0 0.0 0.0 Equity/index-related products 869.9 23.7 23.2 0.0 0.0 0.0 Credit derivatives 2 493.5 7.1 8.5 0.0 0.0 0.0 Forwards 11.2 0.2 0.1 0.0 0.0 0.0 Swaps 11.7 1.0 0.6 0.0 0.0 0.0 Options bought and sold (OTC) 10.8 0.2 0.2 0.0 0.0 0.0 Futures 11.8 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 1.5 0.0 0.0 0.0 0.0 0.0 Other products 3 47.0 1.4 0.9 0.0 0.0 0.0 Total derivative instruments 26,145.0 135.4 134.0 114.3 0.3 0.2 The notional amount, PRV and NRV (trading and hedging) was CHF 26,259.3 billion, CHF 135.7 billion and CHF 134.2 billion, respectively, as of the end of 2Q19. 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 7,477.7 3.6 3.7 0.0 0.0 0.0 Swaps 13,160.7 49.0 45.4 104.4 0.1 0.2 Options bought and sold (OTC) 2,027.6 17.0 17.1 0.0 0.0 0.0 Futures 256.8 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 111.1 0.3 0.3 0.0 0.0 0.0 Interest rate products 23,033.9 69.9 66.5 104.4 0.1 0.2 Forwards 1,124.5 9.5 10.5 12.0 0.1 0.1 Swaps 456.6 14.4 17.4 0.0 0.0 0.0 Options bought and sold (OTC) 313.0 3.9 4.3 0.0 0.0 0.0 Futures 10.7 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 Foreign exchange products 1,906.1 27.8 32.2 12.0 0.1 0.1 Forwards 0.7 0.2 0.1 0.0 0.0 0.0 Swaps 152.6 4.0 5.1 0.0 0.0 0.0 Options bought and sold (OTC) 211.9 7.3 6.5 0.0 0.0 0.0 Futures 39.2 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 356.7 11.9 14.4 0.0 0.0 0.0 Equity/index-related products 761.1 23.4 26.1 0.0 0.0 0.0 Credit derivatives 2 469.4 5.4 6.6 0.0 0.0 0.0 Forwards 8.2 0.1 0.1 0.0 0.0 0.0 Swaps 13.5 1.5 0.6 0.0 0.0 0.0 Options bought and sold (OTC) 9.5 0.1 0.1 0.0 0.0 0.0 Futures 9.3 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 1.9 0.0 0.0 0.0 0.0 0.0 Other products 3 42.4 1.7 0.8 0.0 0.0 0.0 Total derivative instruments 26,212.9 128.2 132.2 116.4 0.2 0.3 The notional amount, PRV and NRV (trading and hedging) was CHF 26,329.3 billion, CHF 128.4 billion and CHF 132.5 billion, respectively, as of the end of 4Q18. 1 Relates to derivative contracts that qualify for hedge accounting under US GAAP. 2 Primarily credit default swaps. 3 Primarily precious metals, commodity and energy products. |
Fair value hedges | Gains or losses on fair value hedges 2Q19 1Q19 2Q18 6M19 6M18 Interest and Interest and Interest and Interest rate products (CHF million) Hedged items (991) (707) 100 (1,698) 790 Derivatives designated as hedging instruments 937 643 (106) 1,580 (755) Net gains/(losses) on the ineffective portion – – (6) – 35 As a result of the adoption of ASU2017-12 on January 1, 2019 the gains/(losses) on interest rate risk hedges are included in interest and dividend income while, in prior periods they were recorded in trading revenue. Additionally, the gains/(losses) on the ineffective portion are no longer separately measured and reported. The accrued interest on fair value hedges is recorded in interest and dividend income and is excluded from this table. Hedged items in fair value hedges 2Q19 Hedged items Carrying Hedging 1 Disconti- 2 Assets and liabilities (CHF billion) Net loans 15.6 0.4 0.8 Long-term debt 70.3 1.8 (0.1) 1 Relates to cumulative amount of fair value hedging adjustments included in the carrying amount. 2 Relates to cumulative amount of fair value hedging adjustments remaining for any hedged items for which hedge accounting has been discontinued. |
Cash flow hedges | Cash flow hedges in 2Q19 1Q19 2Q18 6M19 6M18 Interest rate products (CHF million) Gains/(losses) recognized in AOCI on derivatives 71 49 (31) 120 (92) Gains/(losses) reclassified from AOCI into interest and dividend income 1 1 (24) 2 (40) Foreign exchange products (CHF million) Gains/(losses) recognized in AOCI on derivatives (10) 3 (79) (7) (76) Trading revenues 5 (1) (40) 4 (39) Other revenues (2) (2) (2) (4) (3) Total other operating expenses (5) (1) 0 (6) 0 Total gains/(losses) reclassified from AOCI into income (2) (4) (42) (6) (42) Gains/(losses) excluded from the assessment of effectiveness reported in trading revenues 1 (4) (3) – (7) – Interest rate and foreign exchange products (CHF million) Net gains/(losses) on the ineffective portion – – (1) 2 – (2) 2 As a result of the adoption ASU 2017-12 on January 1, 2019 the gains/(losses) on the ineffective portion are no longer separately measured and reported. 1 Related to the forward points of a foreign currency forward. 2 Included in trading revenues. |
Net investment hedges | Net investment hedges in 2Q19 1Q19 2Q18 6M19 6M18 Foreign exchange products (CHF million) Gains/(losses) recognized in the cumulative translation adjustments section of AOCI 9 (130) 141 (121) 158 |
Credit protection sold/purchased | Credit protection sold/purchased 2Q19 4Q18 1 Net credit Fair value 1 Net credit Fair value Single-name instruments (CHF billion) Investment grade 2 (50.7) 46.5 (4.2) 10.3 0.4 (46.0) 43.1 (2.9) 11.8 0.2 Non-investment grade (30.8) 27.9 (2.9) 20.5 0.1 (26.2) 24.3 (1.9) 17.7 (0.2) Total single-name instruments (81.5) 74.4 (7.1) 30.8 0.5 (72.2) 67.4 (4.8) 29.5 0.0 of which sovereign (16.6) 14.4 (2.2) 4.6 0.0 (16.4) 15.0 (1.4) 5.5 (0.1) of which non-sovereign (64.9) 60.0 (4.9) 26.2 0.5 (55.8) 52.4 (3.4) 24.0 0.1 Multi-name instruments (CHF billion) Investment grade 2 (102.0) 98.4 (3.6) 34.9 0.3 (102.9) 102.4 (0.5) 25.1 (0.8) Non-investment grade (27.8) 25.6 (2.2) 8.6 3 0.9 (26.5) 25.3 (1.2) 8.4 3 0.1 Total multi-name instruments (129.8) 124.0 (5.8) 43.5 1.2 (129.4) 127.7 (1.7) 33.5 (0.7) of which sovereign (0.2) 0.2 0.0 0.0 0.0 (0.2) 0.2 0.0 0.0 0.0 of which non-sovereign (129.6) 123.8 (5.8) 43.5 1.2 (129.2) 127.5 (1.7) 33.5 (0.7) Total instruments (CHF billion) Investment grade 2 (152.7) 144.9 (7.8) 45.2 0.7 (148.9) 145.5 (3.4) 36.9 (0.6) Non-investment grade (58.6) 53.5 (5.1) 29.1 1.0 (52.7) 49.6 (3.1) 26.1 (0.1) Total instruments (211.3) 198.4 (12.9) 74.3 1.7 (201.6) 195.1 (6.5) 63.0 (0.7) of which sovereign (16.8) 14.6 (2.2) 4.6 0.0 (16.6) 15.2 (1.4) 5.5 (0.1) of which non-sovereign (194.5) 183.8 (10.7) 69.7 1.7 (185.0) 179.9 (5.1) 57.5 (0.6) 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 2Q19 4Q18 Special Special Contingent credit risk (CHF billion) Current net exposure 3.1 0.1 0.3 3.5 3.6 0.1 0.3 4.0 Collateral posted 2.8 0.1 – 2.9 3.4 0.1 – 3.5 Impact of a one-notch downgrade event 0.1 0.1 0.0 0.2 0.2 0.0 0.0 0.2 Impact of a two-notch downgrade event 0.3 0.1 0.0 0.4 0.9 0.0 0.1 1.0 Impact of a three-notch downgrade event 1.0 0.1 0.1 1.2 1.0 0.1 0.2 1.3 |
Reconciliation of notional amount of credit derivatives included in fair value of derivative instruments to credit protection sold/purchased | Credit derivatives end of 2Q19 4Q18 Credit derivatives (CHF billion) Credit protection sold 211.3 201.6 Credit protection purchased 198.4 195.1 Other protection purchased 74.3 63.0 Other instruments 1 9.5 9.7 Total credit derivatives 493.5 469.4 1 Consists of total return swaps and other derivative instruments. |
Maturity of credit protection sold | Maturity of credit protection sold Maturity Maturity Maturity 2Q19 (CHF billion) Single-name instruments 15.7 60.9 4.9 81.5 Multi-name instruments 28.4 82.7 18.7 129.8 Total instruments 44.1 143.6 23.6 211.3 4Q18 (CHF billion) Single-name instruments 13.1 54.9 4.2 72.2 Multi-name instruments 28.8 80.6 20.0 129.4 Total instruments 41.9 135.5 24.2 201.6 |
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 8,664.3 2.0 1.9 0.0 0.0 0.0 Swaps 11,950.8 56.8 51.0 101.8 0.2 0.1 Options bought and sold (OTC) 1,749.7 20.7 20.2 0.0 0.0 0.0 Futures 305.3 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 232.5 0.4 0.4 0.0 0.0 0.0 Interest rate products 22,902.6 79.9 73.5 101.8 0.2 0.1 Forwards 1,080.0 7.3 8.2 12.5 0.1 0.1 Swaps 426.5 12.8 16.0 0.0 0.0 0.0 Options bought and sold (OTC) 319.1 3.2 3.7 0.0 0.0 0.0 Futures 7.0 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 0.4 0.0 0.0 0.0 0.0 0.0 Foreign exchange products 1,833.0 23.3 27.9 12.5 0.1 0.1 Forwards 0.8 0.1 0.0 0.0 0.0 0.0 Swaps 162.8 4.3 4.1 0.0 0.0 0.0 Options bought and sold (OTC) 234.5 8.1 6.6 0.0 0.0 0.0 Futures 48.8 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 423.0 11.2 12.5 0.0 0.0 0.0 Equity/index-related products 869.9 23.7 23.2 0.0 0.0 0.0 Credit derivatives 2 493.5 7.1 8.5 0.0 0.0 0.0 Forwards 11.2 0.2 0.1 0.0 0.0 0.0 Swaps 11.7 1.0 0.6 0.0 0.0 0.0 Options bought and sold (OTC) 10.8 0.2 0.2 0.0 0.0 0.0 Futures 11.8 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 1.5 0.0 0.0 0.0 0.0 0.0 Other products 3 47.0 1.4 0.9 0.0 0.0 0.0 Total derivative instruments 26,146.0 135.4 134.0 114.3 0.3 0.2 The notional amount, PRV and NRV (trading and hedging) was CHF 26,260.3 billion, CHF 135.7 billion and CHF 134.2 billion, respectively, as of June 30, 2019. 1 Relates to derivative contracts that qualify for hedge accounting under US GAAP. 2 Primarily credit default swaps. 3 Primarily precious metals, commodity and energy products. Fair value of derivative instruments (continued) Trading Hedging 1 Positive Negative Positive Negative Derivative instruments (CHF billion) Forwards and forward rate agreements 7,477.7 3.6 3.7 0.0 0.0 0.0 Swaps 13,161.7 2 49.0 45.4 104.4 2 0.1 0.2 Options bought and sold (OTC) 2,027.6 17.0 17.1 0.0 0.0 0.0 Futures 256.8 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 111.1 0.3 0.3 0.0 0.0 0.0 Interest rate products 23,034.9 2 69.9 66.5 104.4 2 0.1 0.2 Forwards 1,124.5 9.5 10.5 12.0 0.1 0.1 Swaps 456.6 14.4 17.4 0.0 0.0 0.0 Options bought and sold (OTC) 313.0 3.9 4.3 0.0 0.0 0.0 Futures 10.7 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 Foreign exchange products 1,906.1 27.8 32.2 12.0 0.1 0.1 Forwards 0.7 0.2 0.1 0.0 0.0 0.0 Swaps 152.9 4.1 5.0 0.0 0.0 0.0 Options bought and sold (OTC) 212.3 7.3 6.7 0.0 0.0 0.0 Futures 39.2 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 356.7 11.9 14.4 0.0 0.0 0.0 Equity/index-related products 761.8 23.5 26.2 0.0 0.0 0.0 Credit derivatives 3 469.4 5.4 6.6 0.0 0.0 0.0 Forwards 8.2 0.1 0.1 0.0 0.0 0.0 Swaps 13.5 1.5 0.6 0.0 0.0 0.0 Options bought and sold (OTC) 9.5 0.1 0.1 0.0 0.0 0.0 Futures 9.3 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 1.9 0.0 0.0 0.0 0.0 0.0 Other products 4 42.4 1.7 0.8 0.0 0.0 0.0 Total derivative instruments 26,214.6 2 128.3 132.3 116.4 2 0.2 0.3 The notional amount, PRV and NRV (trading and hedging) was CHF 26,331.0 billion, CHF 128.5 billion and CHF 132.6 billion, respectively, as of December 31, 2018. 1 Relates to derivative contracts that qualify for hedge accounting under US GAAP. 2 Prior period has been corrected 3 Primarily credit default swaps. 4 Primarily precious metals, commodity and energy products. |
Fair value hedges | Gains or losses on fair value hedges 6M19 6M18 Interest and Interest rate products (CHF million) Hedged items (1,698) 790 Derivatives designated as hedging instruments 1,580 (755) Net gains/(losses) on the ineffective portion – 35 As a result of the adoption of ASU2017-12 on January 1, 2019 the gains/(losses) on interest rate risk hedges are included in interest and dividend income while, in prior periods they were recorded in trading revenue. Additionally, the gains/(losses) on the ineffective portion are no longer separately measured and reported. The accrued interest on fair value hedges is recorded in interest and dividend income and is excluded from this table. |
Cash flow hedges | Hedged items in fair value hedges 6M19 Hedged items Carrying Hedging 1 Disconti- 2 Assets and liabilities (CHF billion) Net loans 15.6 0.4 0.8 Long-term debt 70.3 1.8 (0.1) 1 Relates to cumulative amount of fair value hedging adjustments included in the carrying amount. 2 Relates to cumulative amount of fair value hedging adjustments remaining for any hedged items for which hedge accounting has been discontinued. Cash flow hedges in 6M19 6M18 Interest rate products (CHF million) Gains/(losses) recognized in AOCI on derivative 120 (92) Gains/(losses) reclassified from AOCI into interest and dividend income 2 (40) Foreign exchange products (CHF million) Gains/(losses) recognized in AOCI on derivatives (1) (73) Trading revenues 4 (39) Total other operating expenses (6) 0 Total gains/(losses) reclassified from AOCI into income (2) (39) Gains/(losses) excluded from the assessment of effectiveness reported in trading revenues 1 (7) – Interest rate and foreign exchange products (CHF million) Net gains/(losses) on the ineffective portions – (2) 2 As a result of the adoption of ASU2017-12 on January 1, 2019 the gains/(losses) on the ineffective portion are no longer separately measured and reported. 1 Related to the forward points of a foreign currency forward. 2 Included in trading revenues. |
Net investment hedges | Net investment hedges in 6M19 6M18 Foreign exchange products (CHF million) Gains/(losses) recognized in the cumulative translation adjustments section of AOCI (119) 158 |
Credit protection sold/purchased | Credit protection sold/purchased 6M19 2018 1 Net credit Fair value 1 Net credit Fair value Single-name instruments (CHF billion) Investment grade 2 (50.7) 46.5 (4.2) 10.3 0.4 (46.0) 43.1 (2.9) 11.8 0.2 Non-investment grade (30.8) 27.9 (2.9) 20.5 0.1 (26.2) 24.3 (1.9) 17.7 (0.2) Total single-name instruments (81.5) 74.4 (7.1) 30.8 0.5 (72.2) 67.4 (4.8) 29.5 0.0 of which sovereign (16.6) 14.4 (2.2) 4.6 0.0 (16.4) 15.0 (1.4) 5.5 (0.1) of which non-sovereign (64.9) 60.0 (4.9) 26.2 0.5 (55.8) 52.4 (3.4) 24.0 0.1 Multi-name instruments (CHF billion) Investment grade 2 (102.0) 98.4 (3.6) 34.9 0.3 (102.9) 102.4 (0.5) 25.1 (0.8) Non-investment grade (27.8) 25.6 (2.2) 8.6 3 0.9 (26.5) 25.3 (1.2) 8.4 3 0.1 Total multi-name instruments (129.8) 124.0 (5.8) 43.5 1.2 (129.4) 127.7 (1.7) 33.5 (0.7) of which sovereign (0.2) 0.2 0.0 0.0 0.0 (0.2) 0.2 0.0 0.0 0.0 of which non-sovereign (129.6) 123.8 (5.8) 43.5 1.2 (129.2) 127.5 (1.7) 33.5 (0.7) Total instruments (CHF billion) Investment grade 2 (152.7) 144.9 (7.8) 45.2 0.7 (148.9) 145.5 (3.4) 36.9 (0.6) Non-investment grade (58.6) 53.5 (5.1) 29.1 1.0 (52.7) 49.6 (3.1) 26.1 (0.1) Total instruments (211.3) 198.4 (12.9) 74.3 1.7 (201.6) 195.1 (6.5) 63.0 (0.7) of which sovereign (16.8) 14.6 (2.2) 4.6 0.0 (16.6) 15.2 (1.4) 5.5 (0.1) of which non-sovereign (194.5) 183.8 (10.7) 69.7 1.7 (185.0) 179.9 (5.1) 57.5 (0.6) 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 6M19 2018 Special Special Contingent credit risk (CHF billion) Current net exposure 3.1 0.1 0.3 3.5 3.6 0.1 0.3 4.0 Collateral posted 2.8 0.1 – 2.9 3.4 0.1 – 3.5 Impact of a one-notch downgrade event 0.1 0.1 0.0 0.2 0.2 0.0 0.0 0.2 Impact of a two-notch downgrade event 0.3 0.1 0.0 0.4 0.9 0.0 0.1 1.0 Impact of a three-notch downgrade event 1.0 0.1 0.1 1.2 1.0 0.1 0.2 1.3 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 6M19 2018 Credit derivatives (CHF billion) Credit protection sold 211.3 201.6 Credit protection purchased 198.4 195.1 Other protection purchased 74.3 63.0 Other instruments 1 9.5 9.7 Total credit derivatives 493.5 469.4 1 Consists of total return swaps and other derivative instruments. |
Maturity of credit protection sold | Maturity of credit protection sold Maturity Maturity Maturity 6M19 (CHF billion) Single-name instruments 15.7 60.9 4.9 81.5 Multi-name instruments 28.4 82.7 18.7 129.8 Total instruments 44.1 143.6 23.6 211.3 2018 (CHF billion) Single-name instruments 13.1 54.9 4.2 72.2 Multi-name instruments 28.8 80.6 20.0 129.4 Total instruments 41.9 135.5 24.2 201.6 |
Guarantees and commitments (Tab
Guarantees and commitments (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Guarantees | Guarantees Maturity Maturity Total Total 1 2Q19 (CHF million) Credit guarantees and similar instruments 2,455 893 3,348 3,235 12 1,650 Performance guarantees and similar instruments 5,030 1,967 6,997 6,169 32 2,847 Derivatives 2 12,160 7,668 19,828 19,828 418 – 3 Other guarantees 4,806 1,798 6,604 6,531 62 4,102 Total guarantees 24,451 12,326 36,777 35,763 524 8,599 4Q18 (CHF million) Credit guarantees and similar instruments 2,228 1,055 3,283 3,194 14 1,748 Performance guarantees and similar instruments 5,008 2,136 7,144 6,278 44 3,153 Derivatives 2 17,594 6,029 23,623 23,623 919 – 3 Other guarantees 4,325 2,562 6,887 6,814 56 4,169 Total guarantees 29,155 11,782 40,937 39,909 1,033 9,070 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 2Q19 4Q18 Maturity Maturity Total Total 1 Maturity Maturity Total Total 1 Other commitments (CHF million) Irrevocable commitments under documentary credits 4,015 167 4,182 4,097 2,926 5,056 182 5,238 5,077 3,651 Irrevocable loan commitments 2 29,424 93,285 122,709 117,513 61,530 26,882 89,191 116,073 111,967 57,153 Forward reverse repurchase agreements 133 0 133 133 133 31 0 31 31 31 Other commitments 411 124 535 535 0 329 163 492 492 4 Total other commitments 33,983 93,576 127,559 122,278 64,589 32,298 89,536 121,834 117,567 60,839 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 121,484 million and CHF 113,580 million of unused credit limits as of the end of 2Q19 and 4Q18 respectively, which were revocable at the Group's sole discretion upon notice to the client. |
Bank | |
Guarantees | Guarantees Maturity Maturity 1 6M19 (CHF million) Credit guarantees and similar instruments 2,455 897 3,352 3,239 12 1,650 Performance guarantees and similar instruments 5,030 1,967 6,997 6,169 32 2,847 Derivatives 2 12,160 7,668 19,828 19,828 418 – 3 Other guarantees 4,806 1,798 6,604 6,531 62 4,102 Total guarantees 24,451 12,330 36,781 35,767 524 8,599 2018 (CHF million) Credit guarantees and similar instruments 2,229 1,059 3,288 3,199 14 1,752 Performance guarantees and similar instruments 5,008 2,136 7,144 6,278 44 3,153 Derivatives 2 17,594 6,029 23,623 23,623 919 – 3 Other guarantees 4,325 2,562 6,887 6,814 56 4,169 Total guarantees 29,156 11,786 40,942 39,914 1,033 9,074 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 6M19 2018 Maturity Maturity 1 Maturity Maturity 1 Other commitments (CHF million) Irrevocable commitments under documentary credits 4,015 167 4,182 4,097 2,926 5,056 182 5,238 5,077 3,651 Irrevocable loan commitments 29,424 93,285 122,709 2 117,513 61,530 26,882 89,191 116,073 2 111,967 57,153 Forward reverse repurchase agreements 133 0 133 133 133 31 0 31 31 31 Other commitments 411 124 535 535 0 329 163 492 492 4 Total other commitments 33,983 93,576 127,559 122,278 64,589 32,298 89,536 121,834 117,567 60,839 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 121,485 million and CHF 113,593 million of unused credit limits as of the end of 6M19 and 2018, respectively, which were revocable at the Bank's sole discretion upon notice to the client. The prior period has been adjusted to the current presentation. |
Transfers of financial assets_2
Transfers of financial assets and variable interest entities (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Securitizations | Securitizations in 6M19 6M18 Gains/(losses) and cash flows (CHF million) CMBS Net gain/(loss) 1 (1) 7 Proceeds from transfer of assets 3,632 3,568 Cash received on interests that continue to be held 19 23 RMBS Net gain/(loss) 1 (4) (4) Proceeds from transfer of assets 8,045 16,765 Purchases of previously transferred financial assets or its underlying collateral (1) (1) Servicing fees 1 1 Cash received on interests that continue to be held 116 406 Other asset-backed financings Net gain 1 48 58 Proceeds from transfer of assets 4,801 3,950 Purchases of previously transferred financial assets or its underlying collateral (389) (232) Fees 2 74 67 Cash received on interests that continue to be held 3 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 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 2Q19 4Q18 CHF million CMBS Principal amount outstanding 21,607 25,330 Total assets of SPE 31,491 35,760 RMBS Principal amount outstanding 48,923 40,253 Total assets of SPE 49,857 41,242 Other asset-backed financings Principal amount outstanding 22,782 23,036 Total assets of SPE 47,272 47,542 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 6M19 6M18 at time of transfer, in CMBS RMBS CMBS RMBS CHF million, except where indicated Fair value of beneficial interests 281 885 463 2,626 of which level 2 264 826 463 2,542 of which level 3 17 59 0 84 Weighted-average life, in years 4.1 4.7 5.7 7.6 Prepayment speed assumption (rate per annum), in % 1 – 2 2.0 – 37.3 – 2 5.5 – 13.5 Cash flow discount rate (rate per annum), in % 3 2.5 – 8.3 2.3 – 11.6 3.6 – 9.8 3.0 – 13.2 Expected credit losses (rate per annum), in % 4 1.3 – 5.8 1.7 – 3.4 1.8 – 1.8 2.8 – 5.5 Transfers of assets in which the Group does not have beneficial interests are not included in this table. 1 Prepayment speed assumption (PSA) is an industry standard prepayment speed metric used for projecting prepayments over the life of a residential mortgage loan. PSA utilizes the constant prepayment rate (CPR) assumptions. A 100% prepayment assumption assumes a prepayment rate of 0.2% per annum of the outstanding principal balance of mortgage loans in the first month. This increases by 0.2 percentage points thereafter during the term of the mortgage loan, leveling off to a CPR of 6% per annum beginning in the 30th month and each month thereafter during the term of the mortgage loan. 100 PSA equals 6 CPR. 2 To deter prepayment, commercial mortgage loans typically have prepayment protection in the form of prepayment lockouts and yield maintenances. 3 The rate is based on the weighted-average yield on the beneficial interests. 4 The range of expected credit losses only reflects instruments with an expected credit loss greater than zero unless all of the instruments have an expected credit loss of zero. |
Key economic assumptions used in measuring fair value of beneficial interests held in SPEs | Key economic assumptions used in measuring fair value of beneficial interests held in SPEs 2Q19 4Q18 1 Other asset- 2 1 Other asset- 2 CHF million, except where indicated Fair value of beneficial interests 583 1,439 1,154 805 2,006 226 of which non-investment grade 176 209 20 112 307 26 Weighted-average life, in years 3.7 5.0 1.7 5.7 7.9 5.6 Prepayment speed assumption (rate per annum), in % 3 – 3.0 – 37.3 – – 2.0 – 20.0 – Impact on fair value from 10% adverse change – (25.5) – – (22.3) – Impact on fair value from 20% adverse change – (49.1) – – (43.2) – Cash flow discount rate (rate per annum), in % 4 2.4 – 23.6 2.0 – 30.5 0.8 – 21.2 3.4 – 14.3 3.0 – 21.3 1.0 – 21.2 Impact on fair value from 10% adverse change (8.1) (23.8) (4.2) (20.7) (52.1) (2.9) Impact on fair value from 20% adverse change (15.8) (46.5) (9.4) (37.6) (101.3) (5.7) Expected credit losses (rate per annum), in % 5 0.5 – 5.8 1.0 – 28.7 0.9 – 21.2 0.8 – 4.7 0.6 – 18.8 1.0 – 21.2 Impact on fair value from 10% adverse change (4.9) (14.1) (2.8) (10.2) (23.8) (2.4) Impact on fair value from 20% adverse change (9.7) (27.6) (6.2) (17.3) (46.7) (4.8) 1 To deter prepayment, commercial mortgage loans typically have prepayment protection in the form of prepayment lockouts and yield maintenances. 2 CDOs and CLOs within this category are generally structured to be protected from prepayment risk. 3 PSA is an industry standard prepayment speed metric used for projecting prepayments over the life of a residential mortgage loan. PSA utilizes the CPR assumptions. A 100% prepayment assumption assumes a prepayment rate of 0.2% per annum of the outstanding principal balance of mortgage loans in the first month. This increases by 0.2 percentage points thereafter during the term of the mortgage loan, leveling off to a CPR of 6% per annum beginning in the 30th month and each month thereafter during the term of the mortgage loan. 100 PSA equals 6 CPR. 4 The rate is based on the weighted-average yield on the beneficial interests. 5 The range of expected credit losses only reflects instruments with an expected credit loss greater than zero unless all of the instruments have an expected credit loss of zero. |
Carrying amounts of transferred financial assets and liabilities where sale treatment was not achieved | Carrying amounts of transferred financial assets and liabilities where sale treatment was not achieved end of 2Q19 4Q18 CHF million Other asset-backed financings Trading assets 276 255 Liability to SPE, included in other liabilities (276) (255) |
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 2Q19 4Q18 CHF billion Government debt securities 16.1 31.1 Corporate debt securities 10.2 9.6 Asset-backed securities 1.9 1.8 Other 0.2 0.2 Securities sold under repurchase agreements 28.4 42.7 Government debt securities 0.5 1.4 Corporate debt securities 0.2 0.2 Equity securities 4.1 3.2 Other 0.1 0.2 Securities lending transactions 4.9 5.0 Government debt securities 2.8 3.6 Corporate debt securities 1.2 1.0 Asset-backed securities 0.1 0.1 Equity securities 41.3 37.0 Obligation to return securities received as collateral, at fair value 45.4 41.7 Total 78.7 89.4 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 2Q19 (CHF billion) Securities sold under repurchase agreements 7.2 14.1 4.5 2.6 28.4 Securities lending transactions 4.8 0.1 0.0 0.0 4.9 Obligation to return securities received as collateral, at fair value 45.4 0.0 0.0 0.0 45.4 Total 57.4 14.2 4.5 2.6 78.7 4Q18 (CHF billion) Securities sold under repurchase agreements 7.4 26.3 6.7 2.3 42.7 Securities lending transactions 4.1 0.9 0.0 0.0 5.0 Obligation to return securities received as collateral, at fair value 41.4 0.1 0.2 0.0 41.7 Total 52.9 27.3 6.9 2.3 89.4 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- 2Q19 (CHF million) Cash and due from banks 10 0 184 30 41 9 274 Trading assets 76 0 1,682 315 922 15 3,010 Other investments 0 0 0 309 1,085 277 1,671 Net loans 0 0 53 1 26 243 323 Other assets 0 21 859 10 82 979 1,951 of which loans held-for-sale 0 0 235 0 0 0 235 of which premises and equipment 0 0 0 0 37 0 37 Total assets of consolidated VIEs 86 21 2,778 665 2,156 1,523 7,229 Trading liabilities 0 0 0 0 6 0 6 Short-term borrowings 0 4,828 0 0 0 0 4,828 Long-term debt 12 0 1,844 171 10 34 2,071 Other liabilities 0 54 2 2 94 162 314 Total liabilities of consolidated VIEs 12 4,882 1,846 173 110 196 7,219 4Q18 (CHF million) Cash and due from banks 15 1 68 17 52 20 173 Trading assets 72 0 1,602 418 944 12 3,048 Other investments 0 0 0 153 1,073 279 1,505 Net loans 0 0 119 0 23 245 387 Other assets 57 16 863 4 72 1,037 2,049 of which loans held-for-sale 57 0 107 0 3 0 167 of which premises and equipment 0 0 0 0 39 0 39 Total assets of consolidated VIEs 144 17 2,652 592 2,164 1,593 7,162 Trading liabilities 0 0 0 0 3 0 3 Short-term borrowings 0 5,465 0 0 0 0 5,465 Long-term debt 48 0 1,487 174 26 29 1,764 Other liabilities 0 43 1 8 98 127 277 Total liabilities of consolidated VIEs 48 5,508 1,488 182 127 156 7,509 |
Non-consolidated VIEs | Non-consolidated VIEs Financial intermediation CDO/ Securi- 2Q19 (CHF million) Trading assets 206 4,970 835 148 2,150 8,309 Net loans 655 1,373 2,205 7,637 326 12,196 Other assets 0 74 455 1 454 984 Total variable interest assets 861 6,417 3,495 7,786 2,930 21,489 Maximum exposure to loss 861 7,801 3,495 11,169 3,541 26,867 Total assets of non-consolidated VIEs 6,318 103,256 102,841 23,202 28,526 264,143 4Q18 (CHF million) Trading assets 209 4,527 927 183 3,703 9,549 Net loans 154 1,475 1,591 5,246 430 8,896 Other assets 3 19 120 0 444 586 Total variable interest assets 366 6,021 2,638 5,429 4,577 19,031 Maximum exposure to loss 366 7,637 2,653 8,680 5,150 24,486 Total assets of non-consolidated VIEs 7,033 96,483 68,258 20,804 31,336 223,914 |
Bank | |
Securitizations | Securitizations in 6M19 6M18 Gains/(losses) and cash flows (CHF million) CMBS Net gain/(loss) 1 (1) 7 Proceeds from transfer of assets 3,632 3,568 Cash received on interests that continue to be held 19 23 RMBS Net gain/(loss) 1 (4) (4) Proceeds from transfer of assets 8,045 16,765 Purchases of previously transferred financial assets or its underlying collateral (1) (1) Servicing fees 1 1 Cash received on interests that continue to be held 116 406 Other asset-backed financings Net gain 1 48 58 Proceeds from transfer of assets 4,801 3,950 Purchases of previously transferred financial assets or its underlying collateral (389) (232) Fees 2 74 67 Cash received on interests that continue to be held 3 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 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 6M19 2018 CHF million CMBS Principal amount outstanding 21,607 25,330 Total assets of SPE 31,491 35,760 RMBS Principal amount outstanding 48,923 40,253 Total assets of SPE 49,857 41,242 Other asset-backed financings Principal amount outstanding 22,782 23,036 Total assets of SPE 47,272 47,542 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 6M19 6M18 at time of transfer, in CMBS RMBS CMBS RMBS CHF million, except where indicated Fair value of beneficial interests 281 885 463 2,626 of which level 2 264 826 463 2,542 of which level 3 17 59 0 84 Weighted-average life, in years 4.1 4.7 5.7 7.6 Prepayment speed assumption (rate per annum), in % 1 – 2 2.0 – 37.3 – 2 5.5 – 13.5 Cash flow discount rate (rate per annum), in % 3 2.5 – 8.3 2.3 – 11.6 3.6 – 9.8 3.0 – 13.2 Expected credit losses (rate per annum), in % 4 1.3 – 5.8 1.7 – 3.4 1.8 – 1.8 2.8 – 5.5 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 6M19 2018 1 Other asset- 2 1 Other asset- 2 CHF million, except where indicated Fair value of beneficial interests 583 1,439 1,154 805 2,006 226 of which non-investment grade 176 209 20 112 307 26 Weighted-average life, in years 3.7 5.0 1.7 5.7 7.9 5.6 Prepayment speed assumption (rate per annum), in % 3 – 3.0 – 37.3 – – 2.0 – 20.0 – Impact on fair value from 10% adverse change – (25.5) – – (22.3) – Impact on fair value from 20% adverse change – (49.1) – – (43.2) – Cash flow discount rate (rate per annum), in % 4 2.4 – 23.6 2.0 – 30.5 0.8 – 21.2 3.4 – 14.3 3.0 – 21.3 1.0 – 21.2 Impact on fair value from 10% adverse change (8.1) (23.8) (4.2) (20.7) (52.1) (2.9) Impact on fair value from 20% adverse change (15.8) (46.5) (9.4) (37.6) (101.3) (5.7) Expected credit losses (rate per annum), in % 5 0.5 – 5.8 1.0 – 28.7 0.9 – 21.2 0.8 – 4.7 0.6 – 18.8 1.0 – 21.2 Impact on fair value from 10% adverse change (4.9) (14.1) (2.8) (10.2) (23.8) (2.4) Impact on fair value from 20% adverse change (9.7) (27.6) (6.2) (17.3) (46.7) (4.8) 1 To deter prepayment, commercial mortgage loans typically have prepayment protection in the form of prepayment lockouts and yield maintenances. 2 CDOs within this category are generally structured to be protected from prepayment risk. 3 PSA is an industry standard prepayment speed metric used for projecting prepayments over the life of a residential mortgage loan. PSA utilizes the CPR assumptions. A 100% prepayment assumption assumes a prepayment rate of 0.2% per annum of the outstanding principal balance of mortgage loans in the first month. This increases by 0.2 percentage points thereafter during the term of the mortgage loan, leveling off to a CPR of 6% per annum beginning in the 30th month and each month thereafter during the term of the mortgage loan. 100 PSA equals 6 CPR. 4 The rate was based on the weighted-average yield on the beneficial interests. 5 The range of expected credit losses only reflects instruments with an expected credit loss greater than zero unless all of the instruments have an expected credit loss of zero. |
Carrying amounts of transferred financial assets and liabilities where sale treatment was not achieved | Carrying amounts of transferred financial assets and liabilities where sale treatment was not achieved end of 6M19 2018 CHF million Other asset-backed financings Trading assets 276 255 Liability to SPE, included in other liabilities (276) (255) |
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 6M19 2018 CHF billion Government debt securities 16.2 31.1 Corporate debt securities 10.2 9.6 Asset-backed securities 1.9 1.8 Other 0.2 0.2 Securities sold under repurchase agreements 28.5 42.7 Government debt securities 0.5 1.4 Corporate debt securities 0.2 0.2 Equity securities 4.1 3.2 Other 0.1 0.2 Securities lending transactions 4.9 5.0 Government debt securities 2.8 3.6 Corporate debt securities 1.2 1.0 Asset-backed securities 0.1 0.1 Equity securities 41.3 37.0 Obligation to return securities received as collateral, at fair value 45.4 41.7 Total 78.8 89.4 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 6M19 (CHF billion) Securities sold under repurchase agreements 7.2 14.2 4.5 2.6 28.5 Securities lending transactions 4.8 0.1 0.0 0.0 4.9 Obligation to return securities received as collateral, at fair value 45.4 0.0 0.0 0.0 45.4 Total 57.4 14.3 4.5 2.6 78.8 2018 (CHF billion) Securities sold under repurchase agreements 7.4 26.3 6.7 2.3 42.7 Securities lending transactions 4.1 0.9 0.0 0.0 5.0 Obligation to return securities received as collateral, at fair value 41.4 0.1 0.2 0.0 41.7 Total 52.9 27.3 6.9 2.3 89.4 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- 6M19 (CHF million) Cash and due from banks 10 0 184 30 41 9 274 Trading assets 76 0 1,682 315 922 15 3,010 Other investments 0 0 0 309 1,085 277 1,671 Net loans 0 0 53 1 26 243 323 Other assets 0 21 859 10 61 979 1,930 of which loans held-for-sale 0 0 235 0 0 0 235 of which premises and equipment 0 0 0 0 17 0 17 Total assets of consolidated VIEs 86 21 2,778 665 2,135 1,523 7,208 Trading liabilities 0 0 0 0 6 0 6 Short-term borrowings 0 4,828 0 0 0 0 4,828 Long-term debt 12 0 1,844 171 10 34 2,071 Other liabilities 0 54 2 2 94 161 313 Total liabilities of consolidated VIEs 12 4,882 1,846 173 110 195 7,218 2018 (CHF million) Cash and due from banks 15 1 68 17 52 20 173 Trading assets 72 0 1,602 1 418 944 12 3,048 Other investments 0 0 0 153 1,073 279 1,505 Net loans 0 0 119 0 23 245 387 Other assets 57 16 863 4 50 1,037 2,027 of which loans held-for-sale 57 0 107 0 3 0 167 of which premises and equipment 2 0 0 0 0 18 0 18 Total assets of consolidated VIEs 144 17 2,652 592 2,142 1,593 7,140 Trading liabilities 0 0 0 0 3 0 3 Short-term borrowings 0 5,465 0 0 0 0 5,465 Long-term debt 48 0 1,487 174 26 29 1,764 Other liabilities 0 43 1 8 98 127 277 Total liabilities of consolidated VIEs 48 5,508 1,488 182 127 156 7,509 1 Includes residential and commercial mortgage-backed securities previously reported in investment securities which have been reclassified to trading assets as these securities are carried at fair value under the fair value option. 2 Premises and equipment were previously presented separately in the consolidated balance sheet. |
Non-consolidated VIEs | Non-consolidated VIEs Financial intermediation CDO/ Securi- 6M19 (CHF million) Trading assets 206 4,970 835 148 2,150 8,309 Net loans 655 1,373 2,205 7,637 326 12,196 Other assets 0 74 447 1 454 976 Total variable interest assets 861 6,417 3,487 7,786 2,930 21,481 Maximum exposure to loss 861 7,801 3,488 11,169 3,541 26,860 Total assets of non-consolidated VIEs 6,318 103,256 100,934 23,202 6,195 239,905 2018 (CHF million) Trading assets 209 4,527 927 183 3,703 9,549 Net loans 154 1,475 1,591 5,246 430 8,896 Other assets 3 19 112 0 444 578 Total variable interest assets 366 6,021 2,630 5,429 4,577 19,023 Maximum exposure to loss 366 7,637 2,645 8,680 5,150 24,478 Total assets of non-consolidated VIEs 7,033 96,483 65,848 20,804 8,784 198,952 |
Financial instruments (Tables)
Financial instruments (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
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 0 172 0 – – 172 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 0 82,286 0 – – 82,286 Securities received as collateral 42,346 3,028 4 – – 45,378 Trading assets 82,028 170,625 7,652 (115,691) 999 145,613 of which debt securities 22,075 40,669 1,711 – 13 64,468 of which foreign governments 21,404 4,879 206 – – 26,489 of which corporates 590 12,010 901 – 13 13,514 of which RMBS 0 19,538 345 – – 19,883 of which equity securities 51,596 3,580 155 – 986 56,317 of which derivatives 6,632 125,586 3,034 (115,691) – 19,561 of which interest rate products 2,104 77,210 512 – – – of which foreign exchange products 144 22,906 225 – – – of which equity/index-related products 4,381 18,520 752 – – – of which credit derivatives 0 6,432 653 – – – of which other derivatives 0 115 892 – – – of which other trading assets 1,725 790 2,752 – – 5,267 Investment securities 2 1,396 0 – – 1,398 Other investments 16 11 1,369 – 1,178 2,574 of which life finance instruments 0 1 1,085 – – 1,086 Loans 0 8,674 4,163 – – 12,837 of which commercial and industrial loans 0 3,561 1,618 – – 5,179 of which financial institutions 0 2,705 1,227 – – 3,932 of which government and public institutions 0 2,175 605 – – 2,780 of which real estate 0 233 687 – – 920 Other intangible assets (mortgage servicing rights) 0 0 162 – – 162 Other assets 102 6,650 1,718 (275) – 8,195 of which loans held-for-sale 0 4,880 1,449 – – 6,329 Total assets at fair value 124,494 272,842 15,068 (115,966) 2,177 298,615 1 Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements. 2 In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value Assets and liabilities measured at fair value on a recurring basis (continued) 1 Liabilities 2 Liabilities (CHF million) Due to banks 0 281 0 – – 281 Customer deposits 0 2,482 495 – – 2,977 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 0 9,195 0 – – 9,195 Obligation to return securities received as collateral 42,346 3,028 4 – – 45,378 Trading liabilities 30,153 129,008 3,419 (119,226) 2 43,356 of which debt securities 6,034 5,533 6 – – 11,573 of which foreign governments 5,957 381 0 – – 6,338 of which equity securities 16,783 110 53 – 2 16,948 of which derivatives 7,336 123,365 3,360 (119,226) – 14,835 of which interest rate products 2,195 71,223 216 – – – of which foreign exchange products 101 27,648 133 – – – of which equity/index-related products 5,035 16,698 1,449 – – – of which credit derivatives 0 7,362 1,097 – – – Short-term borrowings 0 9,240 997 – – 10,237 Long-term debt 0 57,959 13,689 – – 71,648 of which structured notes over one year and up to two years 0 8,046 880 – – 8,926 of which structured notes over two years 0 29,535 12,511 – – 42,046 of which high-trigger instruments 0 5,735 4 – – 5,739 Other liabilities 0 6,575 1,247 (209) – 7,613 Total liabilities at fair value 72,499 217,768 19,851 (119,435) 2 190,685 1 Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements. 2 In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value Assets and liabilities measured at fair value on a recurring basis (continued) 1 Assets 2 Assets (CHF million) Cash and due from banks 0 115 0 – – 115 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 0 81,818 0 – – 81,818 Securities received as collateral 37,962 3,704 30 – – 41,696 Trading assets 76,124 157,332 8,980 (109,927) 1,126 133,635 of which debt securities 23,726 37,587 2,242 – 12 63,567 of which foreign governments 23,547 4,542 232 – – 28,321 of which corporates 66 7,984 1,260 – 12 9,322 of which RMBS 0 20,919 432 – – 21,351 of which equity securities 42,758 2,459 132 – 1,114 46,463 of which derivatives 7,999 116,942 3,298 (109,927) – 18,312 of which interest rate products 3,557 65,823 507 – – – of which foreign exchange products 25 27,526 258 – – – of which equity/index-related products 4,415 17,967 1,054 – – – of which credit derivatives 0 4,739 673 – – – of which other derivatives 1 633 806 – – – of which other trading assets 1,641 344 3,308 – – 5,293 Investment securities 2 1,477 0 – – 1,479 Other investments 14 7 1,309 – 1,104 2,434 of which life finance instruments 0 0 1,067 – – 1,067 Loans 0 10,549 4,324 – – 14,873 of which commercial and industrial loans 0 3,976 1,949 – – 5,925 of which financial institutions 0 4,164 1,391 – – 5,555 of which real estate 0 146 515 – – 661 Other intangible assets (mortgage servicing rights) 0 0 163 – – 163 Other assets 117 5,807 1,543 (204) – 7,263 of which loans held-for-sale 0 4,238 1,235 – – 5,473 Total assets at fair value 114,219 260,809 16,349 (110,131) 2,230 283,476 1 Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements. 2 In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value Assets and liabilities measured at fair value on a recurring basis (continued) 1 Liabilities 2 Liabilities (CHF million) Due to banks 0 406 0 – – 406 Customer deposits 0 2,839 453 – – 3,292 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 0 14,828 0 – – 14,828 Obligation to return securities received as collateral 37,962 3,704 30 – – 41,696 Trading liabilities 31,940 123,615 3,589 (116,985) 10 42,169 of which debt securities 4,460 3,511 25 – – 7,996 of which foreign governments 4,328 255 0 – – 4,583 of which equity securities 18,785 118 37 – 10 18,950 of which derivatives 8,695 119,986 3,527 (116,985) – 15,223 of which interest rate products 3,699 62,649 189 – – – of which foreign exchange products 32 31,983 160 – – – of which equity/index-related products 4,961 19,590 1,500 – – – of which credit derivatives 0 5,485 1,140 – – – Short-term borrowings 0 7,284 784 – – 8,068 Long-term debt 0 51,270 12,665 – – 63,935 of which structured notes over one year and up to two years 0 7,242 528 – – 7,770 of which structured notes over two years 0 28,215 11,800 – – 40,015 Other liabilities 0 7,881 1,341 (221) – 9,001 Total liabilities at fair value 69,902 211,827 18,862 (117,206) 10 183,395 1 Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements. 2 In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value Assets and liabilities measured at fair value on a recurring basis for level 3 Accumulated other Foreign Assets (CHF million) Securities received as collateral 30 0 0 0 (26) 0 0 0 0 0 0 0 0 0 4 Trading assets 8,980 705 (1,697) 8,831 (9,435) 556 (838) (75) 721 0 0 0 0 (96) 7,652 of which debt securities 2,242 484 (874) 1,597 (1,777) 0 0 16 50 0 0 0 0 (27) 1,711 of which foreign governments 232 0 (43) 68 (56) 0 0 3 3 0 0 0 0 (1) 206 of which corporates 1,260 384 (568) 1,055 (1,234) 0 0 16 6 0 0 0 0 (18) 901 of which RMBS 432 52 (216) 421 (379) 0 0 (1) 41 0 0 0 0 (5) 345 of which equity securities 132 39 (37) 57 (38) 0 0 0 4 0 0 0 0 (2) 155 of which derivatives 3,298 140 (417) 0 0 556 (818) (88) 405 0 0 0 0 (42) 3,034 of which interest rate products 507 23 (9) 0 0 52 (42) 2 (6) 0 0 0 0 (15) 512 of which foreign exchange derivatives 258 11 (10) 0 0 8 (9) 0 (30) 0 0 0 0 (3) 225 of which equity/index-related products 1,054 48 (333) 0 0 199 (259) (84) 133 0 0 0 0 (6) 752 of which credit derivatives 673 58 (65) 0 0 150 (360) (7) 211 0 0 0 0 (7) 653 of which other derivatives 806 0 0 0 0 147 (148) 1 97 0 0 0 0 (11) 892 of which other trading assets 3,308 42 (369) 7,177 (7,620) 0 (20) (3) 262 0 0 0 0 (25) 2,752 Other investments 1,309 48 (5) 33 (110) 0 0 0 100 0 6 0 0 (12) 1,369 of which life finance instruments 1,067 0 0 20 (88) 0 0 0 96 0 0 0 0 (10) 1,085 Loans 4,324 296 (320) 19 (190) 769 (726) 8 20 0 0 0 0 (37) 4,163 of which commercial and industrial loans 1,949 81 (184) 19 (118) 76 (198) 5 1 0 0 0 0 (13) 1,618 of which financial institutions 1,391 215 0 0 (71) 185 (503) (1) 15 0 0 0 0 (4) 1,227 of which government and public institutions 446 0 (58) 0 (1) 248 (14) 3 (9) 0 0 0 0 (10) 605 of which real estate 515 0 (78) 0 0 260 (11) 1 10 0 0 0 0 (10) 687 Other intangible assets (mortgage servicing rights) 163 0 0 9 0 0 0 0 0 0 (7) 0 0 (3) 162 Other assets 1,543 102 (178) 938 (808) 290 (178) 0 24 0 0 0 0 (15) 1,718 of which loans held-for-sale 1,235 96 (125) 903 (805) 290 (178) 1 45 0 0 0 0 (13) 1,449 Total assets at fair value 16,349 1,151 (2,200) 9,830 (10,569) 1,615 (1,742) (67) 865 0 (1) 0 0 (163) 15,068 Liabilities (CHF million) Customer deposits 453 0 0 0 0 0 0 0 31 0 0 0 32 (21) 495 Obligation to return securities received as collateral 30 0 0 0 (26) 0 0 0 0 0 0 0 0 0 4 Trading liabilities 3,589 195 (405) 388 (402) 1,091 (1,483) 81 400 0 0 0 0 (35) 3,419 of which debt securities 25 9 (8) 12 (32) 0 0 0 0 0 0 0 0 0 6 of which equity securities 37 9 0 376 (368) 0 0 0 (1) 0 0 0 0 0 53 of which derivatives 3,527 177 (397) 0 (2) 1,091 (1,483) 81 401 0 0 0 0 (35) 3,360 of which interest rate derivatives 189 5 (2) 0 0 21 (17) 0 23 0 0 0 0 (3) 216 of which foreign exchange derivatives 160 14 (10) 0 0 2 (24) (1) (9) 0 0 0 0 1 133 of which equity/index-related derivatives 1,500 77 (303) 0 0 380 (504) 78 239 0 0 0 0 (18) 1,449 of which credit derivatives 1,140 81 (81) 0 0 551 (782) 4 195 0 0 0 0 (11) 1,097 Short-term borrowings 784 122 (178) 0 0 789 (686) 6 175 0 0 0 0 (15) 997 Long-term debt 12,665 2,095 (2,607) 0 0 2,715 (2,334) 101 1,224 0 0 4 (7) (167) 13,689 of which structured notes over one year and up to two years 528 315 (228) 0 0 544 (345) 11 58 0 0 0 9 (12) 880 of which structured notes over two years 11,800 1,765 (2,123) 0 0 1,959 (1,954) 77 1,148 0 0 4 (15) (150) 12,511 of which high-trigger instruments 6 0 0 0 0 (2) 0 0 0 0 0 0 0 0 4 Other liabilities 1,341 37 (77) 35 (57) 75 (285) (6) 32 0 163 0 0 (11) 1,247 Total liabilities at fair value 18,862 2,449 (3,267) 423 (485) 4,670 (4,788) 182 1,862 0 163 4 25 (249) 19,851 Net assets/(liabilities) at fair value (2,513) (1,298) 1,067 9,407 (10,084) (3,055) 3,046 (249) (997) 0 (164) (4) (25) 86 (4,783) 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. Assets and liabilities measured at fair value on a recurring basis for level 3 Accumulated other Foreign Assets (CHF million) Securities received as collateral 46 0 (15) 58 (80) 0 0 0 0 0 0 0 0 0 9 Trading assets 1 8,796 743 (695) 24,222 (25,127) 786 (826) (37) (137) 0 (4) 0 0 27 7,748 of which debt securities 2,334 514 (429) 1,656 (1,568) 0 (157) (10) (22) 0 (4) 0 0 0 2,314 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 360 161 (124) 442 (174) 0 (157) (1) 79 0 0 0 0 11 597 of which CMBS 18 20 (1) 3 (13) 0 0 0 (5) 0 0 0 0 0 22 of which CDO 126 14 (13) 16 (36) 0 0 0 (1) 0 0 0 0 2 108 of which equity securities 163 40 (22) 39 (81) 0 0 (3) 45 0 (1) 0 0 2 182 of which 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 of which other trading assets 3,010 22 (62) 22,527 (23,478) 0 (18) 2 107 0 1 0 0 25 2,136 Other investments 1,601 0 (110) 136 (236) 0 0 0 (53) 0 2 0 0 8 1,348 of which other equity investments 300 0 (110) 49 (84) 0 0 0 (1) 0 2 0 0 (9) 147 of which life finance instruments 1,301 0 0 87 (152) 0 0 0 (52) 0 0 0 0 17 1,201 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 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 derivatives 3,169 187 (282) 1 (3) 926 (787) 2 (295) 0 0 0 0 30 2,948 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 Residential and commercial mortgage-backed securities that were previously reported in investment securities have been reclassified to trading assets as these securities are carried at fair value under the fair value option. |
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) 6M19 6M18 Trading Other Total Trading Other Total Gains and losses on assets and liabilities (CHF million) Net realized/unrealized gains/(losses) included in net revenues (1,246) (164) (1,410) 1 397 (116) 281 1 Whereof: Unrealized gains/(losses) relating to assets and liabilities still held as of the reporting date 2 (1,075) 109 (966) 27 3 30 1 Excludes net realized/unrealized gains/(losses) attributable to foreign currency translation impact. 2 Prior period has been corrected. |
Quantitative information about level 3 assets and liabilities at fair value | Quantitative information about level 3 assets at fair value Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Securities received as collateral 4 – – – – – Trading assets 7,652 of which debt securities 1,711 of which foreign governments 206 Discounted cash flow Credit spread, in bp 140 140 140 of which corporates 901 of which 365 Market comparable Price, in % 0 126 91 of which 893 Option model Correlation, in % (80) 99 63 Volatility, in % 0 126 26 of which RMBS 345 Discounted cash flow Default rate, in % 0 10 3 Discount rate, in % 2 34 8 Loss severity, in % 0 100 64 Prepayment rate, in % 2 20 8 of which equity securities 155 of which 7 Market comparable Price, in % 10 12 11 of which 113 Vendor price Price, in actuals 0 498 8 of which derivatives 3,034 of which interest rate products 512 Option model Correlation, in % (3) 100 65 Prepayment rate, in % 1 17 8 Volatility skew, in % (4) 1 (2) of which foreign exchange products 225 of which 21 Discounted cash flow Contingent probability, in % 95 95 95 of which 162 Option model Correlation, in % 5 38 26 Prepayment rate, in % 22 26 24 Volatility, in % 78 90 85 of which equity/index-related products 752 Option model Buyback probability, in % 50 100 73 Correlation, in % (80) 99 66 Gap risk, in % 2 0 4 1 Volatility, in % 1 126 32 of which credit derivatives 653 Discounted cash flow Correlation, in % 97 97 97 Credit spread, in bp 1 1,121 165 Default rate, in % 2 20 4 Discount rate, in % 2 23 12 Funding spread, in % 0 1 0 Loss severity, in % 7 85 59 Prepayment rate, in % 0 8 5 Recovery rate, in % 0 45 23 of which 66 Market comparable Price, in % 84 108 97 of which other derivatives 892 Discounted cash flow Market implied life expectancy, in years 2 16 5 Mortality rate, in % 87 106 101 of which other trading assets 2,752 of which 912 Discounted cash flow Market implied life expectancy, in years 2 15 7 of which 1,585 Market comparable Price, in % 0 120 25 of which 255 Option model Mortality rate, in % 0 70 6 1 Cash instruments are generally presented on a weighted average basis, while certain derivative instruments either contain a combination of weighted averages and arithmetic means of the related inputs or are presented on an arithmetic mean basis. 2 Risk of unexpected large declines in the underlying values occurring between collateral settlement dates. Quantitative information about level 3 assets at fair value (continued) Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Other investments 1,369 of which life finance instruments 1,085 Discounted cash flow Market implied life expectancy, in years 2 17 6 Loans 4,163 of which commercial and industrial loans 1,618 of which 1,313 Discounted cash flow Credit spread, in bp 165 1,699 547 Recovery rate, in % 25 25 25 of which 280 Market comparable Price, in % 0 94 52 of which financial institutions 1,227 of which 1,057 Discounted cash flow Credit spread, in bp 51 778 348 of which 100 Market comparable Price, in % 49 100 95 of which government and public institutions 605 of which 437 Discounted cash flow Credit spread, in bp 515 595 562 Recovery rate, in % 25 40 30 of which 167 Market comparable Price, in % 62 62 62 of which real estate 687 Discounted cash flow Credit spread, in bp 223 1,062 669 Recovery rate, in % 25 40 40 Other intangible assets (mortgage servicing rights) 162 – – – – – Other assets 1,718 of which loans held-for-sale 1,449 of which 545 Discounted cash flow Credit spread, in bp 112 3,020 387 Recovery rate, in % 25 87 37 of which 854 Market comparable Price, in % 0 175 82 Total level 3 assets at fair value 15,068 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 Securities received as collateral 30 – – – – – Trading assets 8,980 of which debt securities 2,242 of which foreign governments 232 Discounted cash flow Credit spread, in bp 140 140 140 of which corporates 1,260 of which 441 Market comparable Price, in % 0 118 94 of which 621 Option model Correlation, in % (60) 98 68 Volatility, in % 0 178 30 of which RMBS 432 Discounted cash flow Default rate, in % 0 11 3 Discount rate, in % 1 26 7 Loss severity, in % 0 100 63 Prepayment rate, in % 1 22 8 of which equity securities 132 of which 76 Market comparable EBITDA multiple 2 9 6 Price, in % 100 100 100 of which 49 Vendor price Price, in actuals 0 355 1 of which derivatives 3,298 of which interest rate products 507 Option model Correlation, in % 0 100 69 Prepayment rate, in % 1 26 9 Volatility skew, in % (4) 0 (2) of which foreign exchange products 258 of which 28 Discounted cash flow Contingent probability, in % 95 95 95 of which 218 Option model Correlation, in % (23) 70 24 Prepayment rate, in % 21 26 23 Volatility, in % 80 90 85 of which equity/index-related products 1,054 Option model Buyback probability, in % 50 100 74 Correlation, in % (40) 98 80 Gap risk, in % 2 0 4 1 Volatility, in % 2 178 34 of which credit derivatives 673 Discounted cash flow Correlation, in % 97 97 97 Credit spread, in bp 3 2,147 269 Default rate, in % 1 20 4 Discount rate, in % 3 28 15 Loss severity, in % 16 85 56 Prepayment rate, in % 0 12 6 Recovery rate, in % 0 68 8 of which other derivatives 806 Discounted cash flow Market implied life expectancy, in years 2 16 5 Mortality rate, in % 87 106 101 of which other trading assets 3,308 of which 870 Discounted cash flow Market implied life expectancy, in years 3 17 7 of which 2,119 Market comparable Price, in % 0 110 30 of which 249 Option model Mortality rate, in % 0 70 6 1 Cash instruments are generally presented on a weighted average basis, while certain derivative instruments either contain a combination of weighted averages and arithmetic means of the related inputs or are presented on an arithmetic mean basis. 2 Risk of unexpected large declines in the underlying values occurring between collateral settlement dates. Quantitative information about level 3 assets at fair value (continued) Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Other investments 1,309 of which life finance instruments 1,067 Discounted cash flow Market implied life expectancy, in years 2 17 6 Loans 4,324 of which commercial and industrial loans 1,949 of which 1,531 Discounted cash flow Credit spread, in bp 159 1,184 582 of which 306 Market comparable Price, in % 0 99 65 of which financial institutions 1,391 of which 1,157 Discounted cash flow Credit spread, in bp 88 1,071 596 of which 73 Market comparable Price, in % 1 100 74 of which real estate 515 Discounted cash flow Credit spread, in bp 200 1,522 612 Recovery rate, in % 25 40 39 Other intangible assets (mortgage servicing rights) 163 – – – – – Other assets 1,543 of which loans held-for-sale 1,235 of which 422 Discounted cash flow Credit spread, in bp 105 2,730 394 Recovery rate, in % 25 87 56 of which 739 Market comparable Price, in % 0 130 82 Total level 3 assets at fair value 16,349 1 Cash instruments are generally presented on a weighted average basis, while certain derivative instruments either contain a combination of weighted averages and arithmetic means of the related inputs or are presented on an arithmetic mean basis. Quantitative information about level 3 liabilities at fair value Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Customer deposits 495 Option model Correlation, in % (12) 100 73 Credit spread, in bp 70 103 98 Mean revision, in % 10 10 10 Obligation to return securities received as collateral 4 – – – – – Trading liabilities 3,419 of which debt securities 6 – – – – – of which equity securities 53 Vendor price Price, in actuals 0 66 2 of which derivatives 3,360 of which interest rate derivatives 216 Option model Correlation, in % (3) 100 42 Prepayment rate, in % 1 17 6 of which foreign exchange derivatives 133 of which 36 Discounted cash flow Contingent probability, in % 95 95 95 Credit spread, in bp 362 362 362 of which 24 Market comparable Price, in % 100 100 100 of which 57 Option model Correlation, in % 55 55 55 Prepayment rate, in % 22 26 24 of which equity/index-related derivatives 1,449 Option model Buyback probability, in % 2 50 100 73 Correlation, in % (80) 99 66 Volatility, in % 1 126 26 of which credit derivatives 1,097 of which 602 Discounted cash flow Correlation, in % 38 45 44 Credit spread, in bp 1 1,186 200 Default rate, in % 2 20 4 Discount rate, in % 2 22 12 Loss severity, in % 7 85 60 Prepayment rate, in % 0 8 5 Recovery rate, in % 20 60 34 of which 417 Market comparable Price, in % 82 107 97 of which 22 Option model Correlation, in % 49 49 49 Credit spread, in bp 23 1,114 236 Short-term borrowings 997 of which 79 Discounted cash flow Credit spread, in bp 853 1,146 1,020 Recovery rate, in % 40 40 40 of which 862 Option model Buyback probability, in % 50 100 73 Correlation, in % (80) 100 62 Fund gap risk, in % 3 0 4 1 Volatility, in % 1 126 36 Long-term debt 13,689 of which structured notes over one year and up to two years 880 of which 10 Discounted cash flow Credit spread, in bp (62) 118 (11) of which 851 Option model Buyback probability, in % 2 50 100 73 Correlation, in % (80) 99 65 Fund gap risk, in % 3 0 4 1 Volatility, in % 1 126 33 of which structured notes over two years 12,511 of which 1,565 Discounted cash flow Credit spread, in bp (41) 635 50 of which 26 Market comparable Price, in % 46 49 49 of which 10,485 Option model Buyback probability, in % 2 50 100 73 Correlation, in % (80) 99 63 Gap risk, in % 3 0 4 1 Mean reversion, in % 4 (55) 0 (5) Volatility, in % 0 126 25 of which high-trigger instruments 4 – – – – – Other liabilities 1,247 – – – – – Total level 3 liabilities at fair value 19,851 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 probability of structured notes being put back to the Group at the option of the investor over the remaining life of the financial instruments. 3 Risk of unexpected large declines in the underlying values occurring between collateral settlement dates. 4 Management's best estimate of the speed at which interest rates will revert to the long-term average. Quantitative information about level 3 liabilities at fair value (continued) Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Customer deposits 453 – – – – – Obligation to return securities received as collateral 30 – – – – – Trading liabilities 3,589 of which debt securities 25 – – – – – of which equity securities 37 Vendor price Price, in actuals 0 3 0 of which derivatives 3,527 of which interest rate derivatives 189 Option model Basis spread, in bp (20) 147 48 Correlation, in % 1 100 41 Prepayment rate, in % 1 26 7 of which foreign exchange derivatives 160 of which 62 Discounted cash flow Contingent probability, in % 95 95 95 Credit spread, in bp 146 535 379 of which 37 Market comparable Price, in % 100 100 100 of which 57 Option model Correlation, in % 35 70 53 Prepayment rate, in % 21 26 23 of which equity/index-related derivatives 1,500 Option model Buyback probability, in % 2 50 100 74 Correlation, in % (60) 98 74 Volatility, in % 0 178 30 of which credit derivatives 1,140 of which 566 Discounted cash flow Correlation, in % 38 82 47 Credit spread, in bp 3 2,937 262 Default rate, in % 1 20 4 Discount rate, in % 3 28 14 Loss severity, in % 16 95 56 Prepayment rate, in % 0 12 6 Recovery rate, in % 0 80 14 of which 508 Market comparable Price, in % 75 104 89 of which 20 Option model Correlation, in % 50 50 50 Credit spread, in bp 35 1,156 320 Short-term borrowings 784 of which 61 Discounted cash flow Credit spread, in bp 1,018 1,089 1,067 Recovery rate, in % 40 40 40 of which 644 Option model Buyback probability, in % 50 100 74 Correlation, in % (40) 98 64 Fund gap risk, in % 3 0 4 1 Volatility, in % 2 178 32 Long-term debt 12,665 of which structured notes over one year and up to two years 528 of which 3 Discounted cash flow Credit spread, in bp 112 112 112 of which 427 Option model Correlation, in % (40) 98 71 Volatility, in % 2 178 31 of which structured notes over two years 11,800 of which 1,570 Discounted cash flow Credit spread, in bp (11) 1,089 136 of which 43 Market comparable Price, in % 0 46 30 of which 9,533 Option model Buyback probability, in % 2 50 100 74 Correlation, in % (60) 98 65 Gap risk, in % 3 0 4 1 Mean reversion, in % 4 (55) (1) (7) Volatility, in % 0 178 27 Other liabilities 1,341 – – – – – Total level 3 liabilities at fair value 18,862 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 probability of structured notes being put back to the Group at the option of the investor over the remaining life of the financial instruments. 3 Risk of unexpected large declines in the underlying values occurring between collateral settlement dates. 4 Management's best estimate of the speed at which interest rates will revert to the long-term average. |
Own credit gains/(losses) on fair value option elected instruments recorded in AOCI | Gains/(losses) attributable to changes in instrument-specific credit risk 1 Gains/(losses) recorded 1 in 2Q19 Cumulative 2Q18 2Q19 2Q18 Financial instruments (CHF million) Customer deposits (8) (48) 4 0 0 Short-term borrowings 1 (54) (18) 1 2 Long-term debt (358) (2,414) 834 79 25 of which treasury debt over two years (278) (614) 284 0 0 of which structured notes over two years (36) (1,699) 526 79 25 Total (365) (2,516) 820 80 27 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 of investment funds measured at NAV per share 2Q19 4Q18 Unfunded Unfunded Fair value of investment funds and unfunded commitments (CHF million) Debt funds 13 0 13 0 12 0 12 0 Equity funds 62 924 1 986 59 103 1,011 2 1,114 53 Equity funds sold short 0 (2) (2) 0 (8) (2) (10) 0 Funds held in trading assets and trading liabilities 75 922 997 59 107 1,009 1,116 53 Debt funds 1 0 1 0 1 0 1 0 Equity funds 129 0 129 45 130 0 130 43 Real estate funds 201 0 201 29 214 0 214 34 Other private equity funds 35 11 46 27 24 5 29 29 Private equity funds 366 11 377 101 369 5 374 106 Debt funds 1 51 52 0 68 34 102 0 Equity funds 35 13 48 0 14 14 28 0 Other hedge funds 1 144 145 0 2 24 26 0 Hedge funds 37 208 3 245 0 84 72 4 156 0 Equity method investment funds 48 508 556 14 52 522 574 21 Funds held in other investments 451 727 1,178 115 505 599 1,104 127 Total fair value of investment funds and unfunded commitments 526 5 1,649 2,175 174 612 5 1,608 2,220 180 6 1 49% of the redeemable fair value amount of equity funds is redeemable on demand with a notice period of less than 30 days, 41% is redeemable on a monthly basis with a notice period of primarily more than 30 days and 10% is redeemable on a quarterly basis with a notice period of primarily more than 60 days. 2 46% of the redeemable fair value amount of equity funds is redeemable on demand with a notice period primarily of less than 30 days, 40% is redeemable on a monthly basis with a notice period of primarily more than 30 days, 13% 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 of less than 30 days. 3 61% of the redeemable fair value amount of hedge funds is redeemable on a monthly basis with a notice period primarily of less than 30 days, 31% is redeemable on a quarterly basis with a notice period primarily of more than 45 days and 8% is redeemable on demand with a notice period primarily of less than 30 days. 4 65% 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 and 35% is redeemable on demand with a notice period primarily of less than 30 days. 5 Includes CHF 38 million and CHF 102 million attributable to noncontrolling interests as of the end of 2Q19 and 4Q18, respectively. 6 Includes CHF 23 million attributable to noncontrolling interests. |
Fair Value, Option, Quantitative Disclosures [Table Text Block] | Difference between the fair value and the unpaid principal balances of fair value option-elected financial instruments 2Q19 4Q18 Aggregate Aggregate Aggregate Aggregate Financial instruments (CHF million) Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 82,286 82,143 143 81,818 81,637 181 Loans 12,837 13,303 (466) 14,873 15,441 (568) Other assets 1 7,552 9,938 (2,386) 6,706 9,240 (2,534) Due to banks and customer deposits (604) (540) (64) (859) (778) (81) Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions (9,195) (9,196) 1 (14,828) (14,827) (1) Short-term borrowings (10,237) (10,310) 73 (8,068) (8,647) 579 Long-term debt (71,648) (74,171) 2,523 (63,935) (70,883) 6,948 Other liabilities (604) (1,589) 985 (2,068) (3,125) 1,057 Non-performing and non-interest-earning loans 2 720 3,395 (2,675) 640 3,493 (2,853) 1 Primarily loans held-for-sale. 2 Included in loans or other assets. Gains and losses on financial instruments 6M19 6M18 Net Net Financial instruments (CHF million) Interest-bearing deposits with banks 15 1 4 1 of which related to credit risk 6 (3) Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 1,495 1 1,107 1,4 Other investments 223 2 200 2 of which related to credit risk 1 (1) Loans 558 1 288 1 of which related to credit risk 74 (238) Other assets 460 2 372 1 of which related to credit risk 111 88 Due to banks and customer deposits (36) 2 (2) 1 of which related to credit risk 0 (12) Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions (389) 1 (394) 1,4 Short-term borrowings (559) 2 1,968 2 of which related to credit risk 1 (2) Long-term debt (6,599) 2 1,915 2 of which related to credit risk 3 37 Other liabilities 76 3 100 3 of which related to credit risk 39 15 1 Primarily recognized in net interest income. 2 Primarily recognized in trading revenues. 3 Primarily recognized in other revenues. 4 Prior period has been corrected. |
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 2Q19 (CHF million) Financial assets Central banks funds sold, securities purchased under resale agreements and securities borrowing transactions 31,180 0 31,180 0 31,180 Loans 277,399 0 278,942 8,053 286,995 Other financial assets 1 107,208 92,268 14,344 1,089 107,701 Financial liabilities Due to banks and customer deposits 379,543 198,929 180,615 0 379,544 Central banks funds purchased, securities sold under repurchase agreements and securities lending transactions 10,386 0 10,386 0 10,386 Short-term borrowings 15,902 0 15,902 0 15,902 Long-term debt 86,307 0 88,326 1,199 89,525 Other financial liabilities 2 14,922 0 14,732 194 14,926 4Q18 (CHF million) Financial assets Central banks funds sold, securities purchased under resale agreements and securities borrowing transactions 35,277 0 35,243 35 35,278 Loans 269,147 0 269,825 7,047 276,872 Other financial assets 1 117,353 99,976 16,750 797 117,523 Financial liabilities Due to banks and customer deposits 375,403 196,674 178,755 0 375,429 Central banks funds purchased, securities sold under repurchase agreements and securities lending transactions 9,795 0 9,795 0 9,795 Short-term borrowings 13,857 0 13,859 0 13,859 Long-term debt 90,373 0 89,651 854 90,505 Other financial liabilities 2 16,357 0 16,101 184 16,285 1 Primarily includes cash and due from banks, interest-bearing deposits with banks, loans held-for-sale, cash collateral on derivative instruments, interest and fee receivables and non-marketable equity securities. 2 Primarily includes cash collateral on derivative instruments and interest and fee payables. |
Bank | |
Assets and liabilities measured at fair value on a recurring basis | Assets and liabilities measured at fair value on a recurring basis 1 Assets 2 Assets (CHF million) Cash and due from banks 0 172 0 – – 172 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 0 82,286 0 – – 82,286 Securities received as collateral 42,346 3,028 4 – – 45,378 Trading assets 82,087 170,711 7,652 (115,691) 999 145,758 of which debt securities 22,075 40,756 1,711 – 13 64,555 of which foreign government 21,404 4,879 206 – – 26,489 of which corporates 590 12,096 901 – 13 13,600 of which RMBS 0 19,538 345 – – 19,883 of which equity securities 51,655 3,580 155 – 986 56,376 of which derivatives 6,632 125,586 3,034 (115,691) – 19,561 of which interest rate products 2,104 77,210 512 – – – of which foreign exchange products 144 22,906 225 – – – of which equity/index-related products 4,381 18,520 752 – – – of which credit derivatives 0 6,432 653 – – – of which other derivatives 0 115 892 – – – of which other trading assets 1,725 789 2,752 – – 5,266 Investment securities 0 1,396 0 – – 1,396 Other investments 16 11 1,369 – 1,176 2,572 of which life finance instruments 0 1 1,085 – – 1,086 Loans 0 8,674 4,163 – – 12,837 of which commercial and industrial loans 0 3,561 1,618 – – 5,179 of which financial institutions 0 2,705 1,227 – – 3,932 of which government and public institutions 0 2,175 605 – – 2,780 of which real estate 0 233 687 – – 920 Other intangible assets (mortgage servicing rights) 0 0 162 – – 162 Other assets 102 6,650 1,718 (275) – 8,195 of which loans held-for-sale 0 4,880 1,449 – – 6,329 Total assets at fair value 124,551 272,928 15,068 (115,966) 2,175 298,756 1 Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements. 2 In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value Assets and liabilities measured at fair value on a recurring basis (continued) 1 Liabilities 2 Liabilities (CHF million) Due to banks 0 281 0 – – 281 Customer deposits 0 2,482 495 – – 2,977 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 0 9,304 0 – – 9,304 Obligation to return securities received as collateral 42,346 3,028 4 – – 45,378 Trading liabilities 30,167 129,055 3,419 (119,273) 2 43,370 of which debt securities 6,035 5,533 6 – – 11,574 of which foreign government 5,957 381 0 – – 6,338 of which equity securities 16,796 110 53 – 2 16,961 of which derivatives 7,336 123,412 3,360 (119,273) – 14,835 of which interest rate products 2,195 71,270 216 – – – of which foreign exchange products 101 27,648 133 – – – of which equity/index-related products 5,035 16,698 1,449 – – – of which credit derivatives 0 7,362 1,097 – – – Short-term borrowings 0 9,240 997 – – 10,237 Long-term debt 0 56,877 13,826 – – 70,703 of which structured notes over one year and up to two years 0 8,046 880 – – 8,926 of which structured notes over two years 0 29,535 12,511 – – 42,046 of which high-trigger instruments 0 5,748 5 – – 5,753 Other liabilities 0 6,572 1,234 (209) – 7,597 Total liabilities at fair value 72,513 216,839 19,975 (119,482) 2 189,847 1 Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements. 2 In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value Assets and liabilities measured at fair value on a recurring basis (continued) 1 Assets 2 Assets (CHF million) Cash and due from banks 0 115 0 – – 115 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 0 81,818 0 – – 81,818 Securities received as collateral 37,962 3,704 30 – – 41,696 Trading assets 3 76,178 157,505 8,980 (109,930) 1,126 133,859 of which debt securities 23,726 37,668 2,242 – 12 63,648 of which foreign government 23,547 4,542 232 – – 28,321 of which corporates 66 8,065 1,260 – 12 9,403 of which RMBS 0 20,919 432 – – 21,351 of which equity securities 42,812 2,459 132 – 1,114 46,517 of which derivatives 8,000 117,034 3,298 (109,930) – 18,402 of which interest rate products 3,557 65,823 507 – – – of which foreign exchange products 25 27,526 258 – – – of which equity/index-related products 4,415 18,059 1,054 – – – of which credit derivatives 0 4,739 673 – – – of which other derivatives 2 633 806 – – – of which other trading assets 1,640 344 3,308 – – 5,292 Investment securities 3 0 1,477 0 – – 1,477 Other investments 14 7 1,309 – 1,100 2,430 of which life finance instruments 0 0 1,067 – – 1,067 Loans 0 10,549 4,324 – – 14,873 of which commercial and industrial loans 0 3,976 1,949 – – 5,925 of which financial institutions 0 4,164 1,391 – – 5,555 of which real estate 0 146 515 – – 661 Other intangible assets (mortgage servicing rights) 0 0 163 – – 163 Other assets 117 5,807 1,543 (204) – 7,263 of which loans held-for-sale 0 4,238 1,235 – – 5,473 Total assets at fair value 114,271 260,982 16,349 (110,134) 2,226 283,694 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 3 Residential and commercial mortgage-backed securities that were previously reported in investment securities have been reclassified to trading assets as these securities are carried at fair value under the fair value option. Assets and liabilities measured at fair value on a recurring basis (continued) 1 Liabilities 2 Liabilities (CHF million) Due to banks 0 406 0 – – 406 Customer deposits 0 2,839 453 – – 3,292 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 0 14,828 0 – – 14,828 Obligation to return securities received as collateral 37,962 3,704 30 – – 41,696 Trading liabilities 31,940 123,737 3,589 (117,105) 10 42,171 of which debt securities 4,462 3,511 25 – – 7,998 of which foreign government 4,328 255 0 – – 4,583 of which equity securities 18,785 118 37 – 10 18,950 of which derivatives 8,693 120,108 3,527 (117,105) – 15,223 of which interest rate products 3,699 62,573 189 – – – of which foreign exchange products 32 31,983 160 – – – of which equity/index-related products 4,961 19,788 1,500 – – – of which credit derivatives 0 5,485 1,140 – – – Short-term borrowings 0 7,284 784 – – 8,068 Long-term debt 0 50,356 12,671 – – 63,027 of which structured notes over one year and up to two years 0 7,242 528 – – 7,770 of which structured notes over two years 0 28,215 11,800 – – 40,015 Other liabilities 0 7,877 1,327 (221) – 8,983 Total liabilities at fair value 69,902 211,031 18,854 (117,326) 10 182,471 1 Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements. 2 In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value |
Assets and liabilities measured at fair value on a recurring basis for level 3 | Assets and liabilities measured at fair value on a recurring basis for level 3 Accumulated other Foreign Assets (CHF million) Securities received as collateral 30 0 0 0 (26) 0 0 0 0 0 0 0 0 0 4 Trading assets 8,980 705 (1,697) 8,831 (9,435) 556 (838) (75) 721 0 0 0 0 (96) 7,652 of which debt securities 2,242 484 (874) 1,597 (1,777) 0 0 16 50 0 0 0 0 (27) 1,711 of which foreign governments 232 0 (43) 68 (56) 0 0 3 3 0 0 0 0 (1) 206 of which corporates 1,260 384 (568) 1,055 (1,234) 0 0 16 6 0 0 0 0 (18) 901 of which RMBS 432 52 (216) 421 (379) 0 0 (1) 41 0 0 0 0 (5) 345 of which equity securities 132 39 (37) 57 (38) 0 0 0 4 0 0 0 0 (2) 155 of which derivatives 3,298 140 (417) 0 0 556 (818) (88) 405 0 0 0 0 (42) 3,034 of which interest rate products 507 23 (9) 0 0 52 (42) 2 (6) 0 0 0 0 (15) 512 of which foreign exchange derivatives 258 11 (10) 0 0 8 (9) 0 (30) 0 0 0 0 (3) 225 of which equity/index-related products 1,054 48 (333) 0 0 199 (259) (84) 133 0 0 0 0 (6) 752 of which credit derivatives 673 58 (65) 0 0 150 (360) (7) 211 0 0 0 0 (7) 653 of which other derivatives 806 0 0 0 0 147 (148) 1 97 0 0 0 0 (11) 892 of which other trading assets 3,308 42 (369) 7,177 (7,620) 0 (20) (3) 262 0 0 0 0 (25) 2,752 Other investments 1,309 48 (5) 33 (110) 0 0 0 100 0 6 0 0 (12) 1,369 of which life finance instruments 1,067 0 0 20 (88) 0 0 0 96 0 0 0 0 (10) 1,085 Loans 4,324 296 (320) 19 (190) 769 (726) 8 20 0 0 0 0 (37) 4,163 of which commercial and industrial loans 1,949 81 (184) 19 (118) 76 (198) 5 1 0 0 0 0 (13) 1,618 of which financial institutions 1,391 215 0 0 (71) 185 (503) (1) 15 0 0 0 0 (4) 1,227 of which real estate 515 0 (78) 0 0 260 (11) 1 10 0 0 0 0 (10) 687 Other intangible assets (mortgage servicing rights) 163 0 0 9 0 0 0 0 0 0 (7) 0 0 (3) 162 Other assets 1,543 102 (178) 938 (808) 290 (178) 0 24 0 0 0 0 (15) 1,718 of which loans held-for-sale 1,235 96 (125) 903 (805) 290 (178) 1 45 0 0 0 0 (13) 1,449 Total assets at fair value 16,349 1,151 (2,200) 9,830 (10,569) 1,615 (1,742) (67) 865 0 (1) 0 0 (163) 15,068 Liabilities (CHF million) Customer deposits 453 0 0 0 0 0 0 0 31 0 0 0 32 (21) 495 Obligation to return securities received as collateral 30 0 0 0 (26) 0 0 0 0 0 0 0 0 0 4 Trading liabilities 3,589 195 (405) 388 (402) 1,091 (1,483) 81 400 0 0 0 0 (35) 3,419 of which debt securities 25 9 (8) 12 (32) 0 0 0 0 0 0 0 0 0 6 of which equity securities 37 9 0 376 (368) 0 0 0 (1) 0 0 0 0 0 53 of which derivatives 3,527 177 (397) 0 (2) 1,091 (1,483) 81 401 0 0 0 0 (35) 3,360 of which interest rate derivatives 189 5 (2) 0 0 21 (17) 0 23 0 0 0 0 (3) 216 of which foreign exchange derivatives 160 14 (10) 0 0 2 (24) (1) (9) 0 0 0 0 1 133 of which equity/index-related derivatives 1,500 77 (303) 0 0 380 (504) 78 239 0 0 0 0 (18) 1,449 of which credit derivatives 1,140 81 (81) 0 0 551 (782) 4 195 0 0 0 0 (11) 1,097 Short-term borrowings 784 122 (178) 0 0 789 (686) 6 175 0 0 0 0 (15) 997 Long-term debt 12,671 2,095 (2,483) 0 0 2,739 (2,334) 101 1,209 0 0 4 (7) (169) 13,826 of which structured notes over one year and up to two years 528 315 (228) 0 0 544 (345) 11 58 0 0 0 9 (12) 880 of which structured notes over two years 11,800 1,765 (2,123) 0 0 1,959 (1,954) 77 1,148 0 0 4 (15) (150) 12,511 of which high-trigger instruments 6 0 0 0 0 (1) 0 0 0 0 0 0 0 0 5 Other liabilities 1,327 37 (77) 35 (57) 75 (280) (6) 30 0 161 0 0 (11) 1,234 Total liabilities at fair value 18,854 2,449 (3,143) 423 (485) 4,694 (4,783) 182 1,845 0 161 4 25 (251) 19,975 Net assets/(liabilities) at fair value (2,505) (1,298) 943 9,407 (10,084) (3,079) 3,041 (249) (980) 0 (162) (4) (25) 88 (4,907) Assets and liabilities measured at fair value on a recurring basis for level 3 (continued) Accumulated other Foreign Assets (CHF million) Securities received as collateral 46 0 (15) 58 (80) 0 0 0 0 0 0 0 0 0 9 Trading assets 1 8,796 743 (695) 24,222 (25,127) 786 (826) (37) (137) 0 (4) 0 0 27 7,748 of which debt securities 2,334 514 (429) 1,656 (1,568) 0 (157) (10) (22) 0 (4) 0 0 0 2,314 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 360 161 (124) 442 (174) 0 (157) (1) 79 0 0 0 0 11 597 of which CMBS 18 20 (1) 3 (13) 0 0 0 (5) 0 0 0 0 0 22 of which CDO 126 14 (13) 16 (36) 0 0 0 (1) 0 0 0 0 2 108 of which equity securities 163 40 (22) 39 (81) 0 0 (3) 45 0 (1) 0 0 2 182 of which 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 of which other trading assets 3,010 22 (62) 22,527 (23,478) 0 (18) 2 107 0 1 0 0 25 2,136 Other investments 1,601 0 (109) 135 (236) 0 0 0 (53) 0 2 0 0 8 1,348 of which other equity investments 300 0 (109) 48 (84) 0 0 0 (1) 0 2 0 0 (9) 147 of which life finance instruments 1,301 0 0 87 (152) 0 0 0 (52) 0 0 0 0 17 1,201 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 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 derivatives 3,169 187 (282) 1 (3) 926 (787) 2 (295) 0 0 0 0 30 2,948 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 Residential and commercial mortgage-backed securities that were previously reported in investment securities have been reclassified to trading assets as these securities are carried at fair value under the fair value option. |
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) 6M19 6M18 Trading Other Total Trading Other Total Gains and losses on assets and liabilities (CHF million) Net realized/unrealized gains/(losses) included in net revenues (1,229) (162) (1,391) 1 418 (115) 303 1 Whereof: Unrealized gains/(losses) relating to assets and liabilities still held as of the reporting date 2 (1,074) 109 (965) 30 2 32 1 Excludes net realized/unrealized gains/(losses) attributable to foreign currency translation impact. 2 Prior period has been corrected. |
Quantitative information about level 3 assets and liabilities at fair value | Quantitative information about level 3 assets at fair value Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Securities received as collateral 4 – – – – – Trading assets 7,652 of which debt securities 1,711 of which foreign governments 206 Discounted cash flow Credit spread, in bp 140 140 140 of which corporates 901 of which 365 Market comparable Price, in % 0 126 91 of which 893 Option model Correlation, in % (80) 99 63 Volatility, in % 0 126 26 of which RMBS 345 Discounted cash flow Default rate, in % 0 10 3 Discount rate, in % 2 34 8 Loss severity, in % 0 100 64 Prepayment rate, in % 2 20 8 of which equity securities 155 of which 7 Market comparable Price, in % 10 12 11 of which 113 Vendor price Price, in actuals 0 498 8 of which derivatives 3,034 of which interest rate products 512 Option model Correlation, in % (3) 100 65 Prepayment rate, in % 1 17 8 Volatility skew, in % (4) 1 (2) of which foreign exchange products 225 of which 21 Discounted cash flow Contingent probability, in % 95 95 95 of which 162 Option model Correlation, in % 5 38 26 Prepayment rate, in % 22 26 24 Volatility, in % 78 90 85 of which equity/index-related products 752 Option model Buyback probability, in % 50 100 73 Correlation, in % (80) 99 66 Gap risk, in % 2 0 4 1 Volatility, in % 1 126 32 of which credit derivatives 653 Discounted cash flow Correlation, in % 97 97 97 Credit spread, in bp 1 1,121 165 Default rate, in % 2 20 4 Discount rate, in % 2 23 12 Funding spread, in % 0 1 0 Loss severity, in % 7 85 59 Prepayment rate, in % 0 8 5 Recovery rate, in % 0 45 23 of which 66 Market comparable Price, in % 84 108 97 of which other derivatives 892 Discounted cash flow Market implied life expectancy, in years 2 16 5 Mortality rate, in % 87 106 101 of which other trading assets 2,752 of which 912 Discounted cash flow Market implied life expectancy, in years 2 15 7 of which 1,585 Market comparable Price, in % 0 120 25 of which 255 Option model Mortality rate, in % 0 70 6 1 Cash instruments are generally presented on a weighted average basis, while certain derivative instruments either contain a combination of weighted averages and arithmetic means of the related inputs or are presented on an arithmetic mean basis. 2 Risk of unexpected large declines in the underlying values occurring between collateral settlement dates. Quantitative information about level 3 assets at fair value (continued) Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Other investments 1,369 of which life finance instruments 1,085 Discounted cash flow Market implied life expectancy, in years 2 17 6 Loans 4,163 of which commercial and industrial loans 1,618 of which 1,313 Discounted cash flow Credit spread, in bp 165 1,699 547 Recovery rate, in % 25 25 25 of which 280 Market comparable Price, in % 0 94 52 of which financial institutions 1,227 of which 1,057 Discounted cash flow Credit spread, in bp 51 778 348 of which 100 Market comparable Price, in % 49 100 95 of which government and public institutions 605 of which 437 Discounted cash flow Credit spread, in bp 515 595 562 Recovery rate, in % 25 40 30 of which 167 Market comparable Price, in % 62 62 62 of which real estate 687 Discounted cash flow Credit spread, in bp 223 1,062 669 Recovery rate, in % 25 40 40 Other intangible assets (mortgage servicing rights) 162 – – – – – Other assets 1,718 of which loans held-for-sale 1,449 of which 545 Discounted cash flow Credit spread, in bp 112 3,020 387 Recovery rate, in % 25 87 37 of which 854 Market comparable Price, in % 0 175 82 Total level 3 assets at fair value 15,068 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 Securities received as collateral 30 – – – – – Trading assets 2 8,980 of which debt securities 2,242 of which foreign governments 232 Discounted cash flow Credit spread, in bp 140 140 140 of which corporates 1,260 of which 441 Market comparable Price, in % 0 118 94 of which 621 Option model Correlation, in % (60) 98 68 Volatility, in % 0 178 30 of which RMBS 432 Discounted cash flow Default rate, in % 0 11 3 Discount rate, in % 1 26 7 Loss severity, in % 0 100 63 Prepayment rate, in % 1 22 8 of which equity securities 132 of which 76 Market comparable EBITDA multiple 2 9 6 Price, in % 100 100 100 of which 49 Vendor price Price, in actuals 0 355 1 of which derivatives 3,298 of which interest rate products 507 Option model Correlation, in % 0 100 69 Prepayment rate, in % 1 26 9 Volatility skew, in % (4) 0 (2) of which foreign exchange products 258 of which 28 Discounted cash flow Contingent probability, in % 95 95 95 of which 218 Option model Correlation, in % (23) 70 24 Prepayment rate, in % 21 26 23 Volatility, in % 80 90 85 of which equity/index-related products 1,054 Option model Buyback probability, in % 50 100 74 Correlation, in % (40) 98 80 Gap risk, in % 3 0 4 1 Volatility, in % 2 178 34 of which credit derivatives 673 Discounted cash flow Correlation, in % 97 97 97 Credit spread, in bp 3 2,147 269 Default rate, in % 1 20 4 Discount rate, in % 3 28 15 Loss severity, in % 16 85 56 Prepayment rate, in % 0 12 6 Recovery rate, in % 0 68 8 of which other derivatives 806 Discounted cash flow Market implied life expectancy, in years 2 16 5 Mortality rate, in % 87 106 101 of which other trading assets 3,308 of which 870 Discounted cash flow Market implied life expectancy, in years 3 17 7 of which 2,119 Market comparable Price, in % 0 110 30 of which 249 Option model Mortality rate, in % 0 70 6 1 Cash instruments are generally presented on a weighted average basis, while certain derivative instruments either contain a combination of weighted averages and arithmetic means of the related inputs or are presented on an arithmetic mean basis. 2 Residential and commercial mortgage-backed securities that were previously reported in investment securities have been reclassified to trading assets as these securities are carried at fair value under the fair value option. 3 Risk of unexpected large declines in the underlying values occurring between collateral settlement dates. Quantitative information about level 3 assets at fair value (continued) Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Other investments 1,309 of which life finance instruments 1,067 Discounted cash flow Market implied life expectancy, in years 2 17 6 Loans 4,324 of which commercial and industrial loans 1,949 of which 1,531 Discounted cash flow Credit spread, in bp 159 1,184 582 of which 306 Market comparable Price, in % 0 99 65 of which financial institutions 1,391 of which 1,157 Discounted cash flow Credit spread, in bp 88 1,071 596 of which 73 Market comparable Price, in % 1 100 74 of which real estate 515 Discounted cash flow Credit spread, in bp 200 1,522 612 Recovery rate, in % 25 40 39 Other intangible assets (mortgage servicing rights) 163 – – – – – Other assets 1,543 of which loans held-for-sale 1,235 of which 422 Discounted cash flow Credit spread, in bp 105 2,730 394 Recovery rate, in % 25 87 56 of which 739 Market comparable Price, in % 0 130 82 Total level 3 assets at fair value 16,349 1 Cash instruments are generally presented on a weighted average basis, while certain derivative instruments either contain a combination of weighted averages and arithmetic means of the related inputs or are presented on an arithmetic mean basis. Quantitative information about level 3 liabilities at fair value Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Customer deposits 495 Option model Correlation, in % (12) 100 73 Credit spread, in bp 70 103 98 Mean revision, in % 10 10 10 Obligation to return securities received as collateral 4 – – – – – Trading liabilities 3,419 of which debt securities 6 – – – – – of which equity securities 53 Vendor price Price, in actuals 0 66 2 of which derivatives 3,360 of which interest rate derivatives 216 Option model Correlation, in % (3) 100 42 Prepayment rate, in % 1 17 6 of which foreign exchange derivatives 133 of which 36 Discounted cash flow Contingent probability, in % 95 95 95 Credit spread, in bp 362 362 362 of which 24 Market comparable Price, in % 100 100 100 of which 57 Option model Correlation, in % 55 55 55 Prepayment rate, in % 22 26 24 of which equity/index-related derivatives 1,449 Option model Buyback probability, in % 2 50 100 73 Correlation, in % (80) 99 66 Volatility, in % 1 126 26 of which credit derivatives 1,097 of which 602 Discounted cash flow Correlation, in % 38 45 44 Credit spread, in bp 1 1,186 200 Default rate, in % 2 20 4 Discount rate, in % 2 22 12 Loss severity, in % 7 85 60 Prepayment rate, in % 0 8 5 Recovery rate, in % 20 60 34 of which 417 Market comparable Price, in % 82 107 97 of which 22 Option model Correlation, in % 49 49 49 Credit spread, in bp 23 1,114 236 Short-term borrowings 997 of which 79 Discounted cash flow Credit spread, in bp 853 1,146 1,020 Recovery rate, in % 40 40 40 of which 862 Option model Buyback probability, in % 50 100 73 Correlation, in % (80) 100 62 Fund gap risk, in % 3 0 4 1 Volatility, in % 1 126 36 Long-term debt 13,826 of which structured notes over one year and up to two years 880 of which 10 Discounted cash flow Credit spread, in bp (62) 118 (11) of which 851 Option model Buyback probability, in % 2 50 100 73 Correlation, in % (80) 99 65 Fund gap risk, in % 3 0 4 1 Volatility, in % 1 126 33 of which structured notes over two years 12,511 of which 1,565 Discounted cash flow Credit spread, in bp (41) 635 50 of which 26 Market comparable Price, in % 46 49 49 of which 10,485 Option model Buyback probability, in % 2 50 100 73 Correlation, in % (80) 99 63 Gap risk, in % 3 0 4 1 Mean reversion, in % 4 (55) 0 (5) Volatility, in % 0 126 25 of which high-trigger instruments 5 – – – – – Other liabilities 1,234 – – – – – Total level 3 liabilities at fair value 19,975 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 occurring 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 453 – – – – – Obligation to return securities received as collateral 30 – – – – – Trading liabilities 3,589 of which debt securities 25 – – – – – of which equity securities 37 Vendor price Price, in actuals 0 3 0 of which derivatives 3,527 of which interest rate derivatives 189 Option model Basis spread, in bp (20) 147 48 Correlation, in % 1 100 41 Prepayment rate, in % 1 26 7 of which foreign exchange derivatives 160 of which 62 Discounted cash flow Contingent probability, in % 95 95 95 Credit spread, in bp 146 535 379 of which 37 Market comparable Price, in % 100 100 100 of which 57 Option model Correlation, in % 35 70 53 Prepayment rate, in % 21 26 23 of which equity/index-related derivatives 1,500 Option model Buyback probability, in % 2 50 100 74 Correlation, in % (60) 98 74 Volatility, in % 0 178 30 of which credit derivatives 1,140 of which 566 Discounted cash flow Correlation, in % 38 82 47 Credit spread, in bp 3 2,937 262 Default rate, in % 1 20 4 Discount rate, in % 3 28 14 Loss severity, in % 16 95 56 Prepayment rate, in % 0 12 6 Recovery rate, in % 0 80 14 of which 508 Market comparable Price, in % 75 104 89 of which 20 Option model Correlation, in % 50 50 50 Credit spread, in bp 35 1,156 320 Short-term borrowings 784 of which 61 Discounted cash flow Credit spread, in bp 1,018 1,089 1,067 Recovery rate, in % 40 40 40 of which 644 Option model Buyback probability, in % 50 100 74 Correlation, in % (40) 98 64 Fund gap risk, in % 3 0 4 1 Volatility, in % 2 178 32 Long-term debt 12,671 of which structured notes over one year and up to two years 528 of which 3 Discounted cash flow Credit spread, in bp 112 112 112 of which 427 Option model Correlation, in % (40) 98 71 Volatility, in % 2 178 31 of which structured notes over two years 11,800 of which 1,570 Discounted cash flow Credit spread, in bp (11) 1,089 136 of which 43 Market comparable Price, in % 0 46 30 of which 9,533 Option model Buyback probability, in % 2 50 100 74 Correlation, in % (60) 98 65 Gap risk, in % 3 0 4 1 Mean reversion, in % 4 (55) (1) (7) Volatility, in % 0 178 27 Other liabilities 1,327 – – – – – Total level 3 liabilities at fair value 18,854 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 occurring between collateral settlement dates. 4 Management's best estimate of the speed at which interest rates will revert to the long-term average. |
Own credit gains/(losses) on fair value option elected instruments recorded in AOCI | Gains/(losses) attributable to changes in investment-specific credit risk 1 Gains/(losses) recorded 1 in 6M19 Cumulative 6M18 6M19 6M18 Financial instruments (CHF million) Deposits (34) (48) 15 0 0 Short-term borrowings 1 (54) 0 1 2 Long-term debt (1,476) (2,318) 1,108 109 32 of which treasury debt over two years (652) (518) 418 0 0 of which structured notes over two years (670) (1,699) 652 109 32 Total (1,509) (2,420) 1,123 110 34 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 of investment funds measured at NAV per share 6M19 2018 Unfunded Unfunded Fair value of investment funds and unfunded commitments (CHF million) Debt funds 13 0 13 0 12 0 12 0 Equity funds 62 924 1 986 59 103 1,011 2 1,114 53 Equity funds sold short 0 (2) (2) 0 (8) (2) (10) 0 Funds held in trading assets and trading liabilities 75 922 997 59 107 1,009 1,116 53 Debt funds 1 0 1 0 1 0 1 0 Equity funds 126 0 126 44 126 0 126 42 Real estate funds 201 0 201 29 214 0 214 34 Other private equity funds 36 11 47 27 24 5 29 29 Private equity funds 364 11 375 100 365 5 370 105 Debt funds 1 51 52 0 68 34 102 0 Equity funds 35 13 48 0 14 14 28 0 Other hedge funds 1 144 145 0 2 24 26 0 Hedge funds 37 208 3 245 0 84 72 4 156 0 Equity method investment funds 47 509 556 14 52 522 574 21 Funds held in other investments 448 728 1,176 114 501 599 1,100 126 Fair value of investment funds and unfunded commitments 523 5 1,650 2,173 173 608 5 1,608 2,216 179 6 1 49% of the redeemable fair value amount of equity funds is redeemable on demand with a notice period of less than 30 days, 41% is redeemable on a monthly basis with a notice period primarily of more than 30 days and 10% is redeemable on a quarterly basis with a notice period primarily of more than 60 days. 2 46% of the redeemable fair value amount of equity funds is redeemable on demand with a notice period primarily of less than 30 days, 40% is redeemable on a monthly basis with a notice period primarily of more than 30 days, 13% 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. 3 61% of the redeemable fair value amount of hedge funds is redeemable on a monthly basis with a notice period primarily of less than 30 days, 31% is redeemable on a quarterly basis with a notice period primarily of more than 45 days and 8% is redeemable on demand with a notice period primarily of less than 30 days. 4 65% 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 and 35% is redeemable on demand with a notice period primarily of less than 30 days. 5 Includes CHF 38 million and CHF 102 million attributable to noncontrolling interests as of the end of 6M19 and 2018, respectively. 6 Includes CHF 23 million attributable to noncontrolling interests. |
Fair Value, Option, Quantitative Disclosures [Table Text Block] | Difference between the fair value and the unpaid principal balances of fair value option-elected financial instruments 6M19 2018 Aggregate Aggregate Aggregate Aggregate Financial instruments (CHF million) Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 82,286 82,143 143 81,818 81,637 181 Loans 12,837 13,303 (466) 14,873 15,441 (568) Other assets 1 7,552 9,938 (2,386) 6,706 9,240 (2,534) Due to banks and customer deposits (604) (540) (64) (859) (778) (81) Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions (9,304) (9,305) 1 (14,828) (14,827) (1) Short-term borrowings (10,237) (10,310) 73 (8,068) (8,647) 579 Long-term debt (70,703) (73,217) 2,514 (63,027) (69,914) 6,887 Other liabilities (604) (1,589) 985 (2,068) (3,125) 1,057 Non-performing and non-interest-earning loans 2 720 3,395 (2,675) 640 3,493 (2,853) 1 Primarily loans held-for-sale. 2 Included in loans or other assets. Gains and losses on financial instruments 6M19 6M18 Net Net Financial instruments (CHF million) Interest-bearing deposits with banks 15 1 4 1 of which related to credit risk 6 (3) Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 1,495 1 1,107 1,4 Other investments 223 2 200 2 of which related to credit risk 1 (1) Loans 558 1 288 1 of which related to credit risk 74 (238) Other assets 460 2 372 1 of which related to credit risk 111 88 Due to banks and customer deposits (36) 2 (2) 1 of which related to credit risk 0 (12) Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions (389) 1 (394) 1,4 Short-term borrowings (559) 2 1,968 2 of which related to credit risk 1 (2) Long-term debt (6,230) 2 1,799 2 of which related to credit risk 3 37 Other liabilities 76 3 99 3 of which related to credit risk 39 15 1 Primarily recognized in net interest income. 2 Primarily recognized in trading revenues. 3 Primarily recognized in other revenues. 4 Prior period has been corrected. |
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 6M19 (CHF million) Financial assets Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 31,180 0 31,180 0 31,180 Loans 283,883 0 285,421 8,053 293,474 Other financial assets 1 107,136 91,684 14,858 1,088 107,630 Financial liabilities Due to banks and deposits 380,791 199,551 181,241 0 380,792 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 10,386 0 10,386 0 10,386 Short-term borrowings 16,391 0 16,391 0 16,391 Long-term debt 86,314 0 88,287 1,275 89,562 Other financial liabilities 2 15,642 0 15,453 194 15,647 2018 (CHF million) Financial assets Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 35,277 0 35,243 35 35,278 Loans 274,440 0 275,105 7,047 282,152 Other financial assets 1 117,002 99,238 17,139 796 117,173 Financial liabilities Due to banks and deposits 376,741 197,320 179,448 0 376,768 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 9,795 0 9,795 0 9,795 Short-term borrowings 14,351 0 14,352 0 14,352 Long-term debt 90,406 0 89,707 854 90,561 Other financial liabilities 2 16,803 0 16,547 184 16,731 1 Primarily includes cash and due from banks, interest-bearing deposits with banks, loans held-for-sale, cash collateral on derivative instruments, interest and fee receivables and non-marketable equity securities. 2 Primarily includes cash collateral on derivative instruments and interest and fee payables. |
Assets pledged and collateral (
Assets pledged and collateral (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Assets pledged and collateral | Assets pledged end of 2Q19 4Q18 CHF million Total assets pledged or assigned as collateral 121,960 117,895 of which encumbered 66,361 58,672 |
Fair value of collateral received with the right to sell or repledge | Collateral end of 2Q19 4Q18 CHF million Fair value of collateral received with the right to sell or repledge 440,627 406,389 of which sold or repledged 196,524 193,267 |
Bank | |
Assets pledged and collateral | Assets pledged end of 6M19 2018 CHF million Total assets pledged or assigned as collateral 121,960 117,895 of which encumbered 66,361 58,672 |
Fair value of collateral received with the right to sell or repledge | Collateral end of 6M19 2018 CHF million Fair value of collateral received with the right to sell or repledge 440,627 406,389 of which sold or repledged 196,524 193,267 |
Subsidiary guarantee informat_2
Subsidiary guarantee information (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Subsidiary guarantee information | |
Schedule of subsidiary guarantee information [Table Text Block] | Condensed consolidating statements of operations Bank 1 Condensed consolidating statements of operations (CHF million) Interest and dividend income 1,016 4,639 5,655 311 (313) 5,653 Interest expense (1,096) (2,552) (3,648) (322) 318 (3,652) Net interest income (80) 2,087 2,007 (11) 5 2,001 Commissions and fees 912 1,992 2,904 5 18 2,927 Trading revenues 221 10 231 (54) 5 182 Other revenues 512 22 534 1,020 2 (1,083) 471 Net revenues 1,565 4,111 5,676 960 (1,055) 5,581 Provision for credit losses 3 22 25 0 0 25 Compensation and benefits 698 1,607 2,305 30 210 2,545 General and administrative expenses 459 1,304 1,763 (7) (361) 1,395 Commission expenses 44 269 313 0 1 314 Total other operating expenses 503 1,573 2,076 (7) (360) 1,709 Total operating expenses 1,201 3,180 4,381 23 (150) 4,254 Income/(loss) before taxes 361 909 1,270 937 (905) 1,302 Income tax expense 140 199 339 0 26 365 Net income/(loss) 221 710 931 937 (931) 937 Net income/(loss) attributable to noncontrolling interests 3 1 4 0 (4) 0 Net income/(loss) attributable to shareholders 218 709 927 937 (927) 937 1 Includes eliminations and consolidation adjustments. 2 Primarily consists of revenues from investments in Group companies accounted for under the equity method. Condensed consolidating statements of comprehensive income Bank 1 Comprehensive income (CHF million) Net income/(loss) 221 710 931 937 (931) 937 Gains/(losses) on cash flow hedges 0 45 45 (1) (1) 43 Foreign currency translation (323) (255) (578) (1) (13) (592) Unrealized gains/(losses) on securities 0 12 12 0 0 12 Actuarial gains/(losses) 4 0 4 0 382 386 Net prior service credit/(cost) 0 0 0 0 306 306 Gains/(losses) on liabilities related to credit risk (16) (200) (216) (19) 4 (231) Other comprehensive income/(loss), net of tax (335) (398) (733) (21) 678 (76) Comprehensive income/(loss) (114) 312 198 916 (253) 861 Comprehensive income/(loss) attributable to noncontrolling interests 1 (11) (10) 0 7 (3) Comprehensive income/(loss) attributable to shareholders (115) 323 208 916 (260) 864 1 Includes eliminations and consolidation adjustments. Condensed consolidating statements of operations (continued) Bank 1 Condensed consolidating statements of operations (CHF million) Interest and dividend income 1,048 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 (continued) 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 2,014 8,462 10,476 611 (616) 10,471 Interest expense (2,158) (4,763) (6,921) (635) 618 (6,938) Net interest income (144) 3,699 3,555 (24) 2 3,533 Commissions and fees 1,616 3,867 5,483 11 45 5,539 Trading revenues 426 661 1,087 (64) (1) 1,022 Other revenues 996 (10) 986 1,797 2 (1,909) 874 Net revenues 2,894 8,217 11,111 1,720 (1,863) 10,968 Provision for credit losses 9 97 106 0 0 106 Compensation and benefits 1,430 3,179 4,609 48 406 5,063 General and administrative expenses 908 2,600 3,508 (14) (686) 2,808 Commission expenses 95 532 627 0 0 627 Total other operating expenses 1,003 3,132 4,135 (14) (686) 3,435 Total operating expenses 2,433 6,311 8,744 34 (280) 8,498 Income/(loss) before taxes 452 1,809 2,261 1,686 (1,583) 2,364 Income tax expense/(benefit) 180 521 701 0 (23) 678 Net income/(loss) 272 1,288 1,560 1,686 (1,560) 1,686 Net income/(loss) attributable to noncontrolling interests 3 4 7 0 (7) 0 Net income/(loss) attributable to shareholders 269 1,284 1,553 1,686 (1,553) 1,686 1 Includes eliminations and consolidation adjustments. 2 Primarily consists of revenues from investments in Group companies accounted for under the equity method. Condensed consolidating statements of comprehensive income (continued) Bank 1 Comprehensive income (CHF million) Net income/(loss) 272 1,288 1,560 1,686 (1,560) 1,686 Gains/(losses) on cash flow hedges 0 93 93 (3) (1) 89 Foreign currency translation (147) (244) (391) 2 (4) (393) Unrealized gains/(losses) on securities 0 27 27 0 (1) 26 Actuarial gains/(losses) 6 2 8 0 438 446 Net prior service credit/(cost) 0 0 0 0 282 282 Gains/(losses) on liabilities related to credit risk (53) (1,185) (1,238) (48) (66) (1,352) Other comprehensive income/(loss), net of tax (194) (1,307) (1,501) (49) 648 (902) Comprehensive income/(loss) 78 (19) 59 1,637 (912) 784 Comprehensive income/(loss) attributable to noncontrolling interests 2 (2) 0 0 (1) (1) Comprehensive income/(loss) attributable to shareholders 76 (17) 59 1,637 (911) 785 1 Includes eliminations and consolidation adjustments. Condensed consolidating 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 balance sheets Bank 1 Assets (CHF million) Cash and due from banks 2,687 89,087 91,774 264 451 92,489 Interest-bearing deposits with banks 10 831 841 493 (425) 909 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 38,653 74,813 113,466 0 0 113,466 Securities received as collateral 3,686 41,692 45,378 0 0 45,378 Trading assets 33,012 112,746 145,758 0 (145) 145,613 Investment securities 0 1,396 1,396 27,781 (27,779) 1,398 Other investments 774 4,172 4,946 48,922 (48,882) 4,986 Net loans 12,506 287,775 300,281 0 (6,484) 293,797 Goodwill 721 3,304 4,025 0 706 4,731 Other intangible assets 199 17 216 0 0 216 Brokerage receivables 17,556 24,098 41,654 0 0 41,654 Other assets 12,162 24,931 37,093 621 1,865 39,579 Total assets 121,966 664,862 786,828 78,081 (80,693) 784,216 Liabilities and equity (CHF million) Due to banks 94 18,398 18,492 1,769 (1,763) 18,498 Customer deposits 1 365,555 365,556 0 (1,254) 364,302 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 6,014 13,677 19,691 0 (109) 19,582 Obligation to return securities received as collateral 3,686 41,692 45,378 0 0 45,378 Trading liabilities 10,850 32,520 43,370 0 (14) 43,356 Short-term borrowings 9,365 17,263 26,628 0 (489) 26,139 Long-term debt 50,342 106,676 157,018 32,212 (31,275) 157,955 Brokerage payables 15,966 19,154 35,120 0 0 35,120 Other liabilities 9,681 19,720 29,401 427 130 29,958 Total liabilities 105,999 634,655 740,654 34,408 (34,774) 740,288 Total shareholders' equity 15,893 29,429 45,322 43,673 (45,322) 43,673 Noncontrolling interests 74 778 852 0 (597) 255 Total equity 15,967 30,207 46,174 43,673 (45,919) 43,928 Total liabilities and equity 121,966 664,862 786,828 78,081 (80,693) 784,216 1 Includes eliminations and consolidation adjustments. Condensed consolidating balance sheets (continued) Bank 1 Assets (CHF million) Cash and due from banks 2,540 96,774 99,314 324 409 100,047 Interest-bearing deposits with banks 22 1,052 1,074 498 (430) 1,142 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 35,640 81,455 117,095 0 0 117,095 Securities received as collateral 4,751 36,945 41,696 0 0 41,696 Trading assets 2 29,341 104,518 133,859 0 (224) 133,635 Investment securities 2 0 1,477 1,477 23,456 (23,454) 1,479 Other investments 826 3,998 4,824 48,030 (47,964) 4,890 Net loans 12,263 280,612 292,875 0 (5,294) 287,581 Goodwill 727 3,329 4,056 0 710 4,766 Other intangible assets 200 19 219 0 0 219 Brokerage receivables 20,772 18,135 38,907 0 0 38,907 Other assets 3 12,967 23,706 36,673 547 239 37,459 Total assets 120,049 652,020 772,069 72,855 (76,008) 768,916 Liabilities and equity (CHF million) Due to banks 59 15,161 15,220 1,364 (1,364) 15,220 Customer deposits 0 365,263 365,263 0 (1,338) 363,925 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 6,296 18,327 24,623 0 0 24,623 Obligation to return securities received as collateral 4,751 36,945 41,696 0 0 41,696 Trading liabilities 8,693 33,478 42,171 0 (2) 42,169 Short-term borrowings 9,679 12,740 22,419 0 (493) 21,926 Long-term debt 47,074 106,359 153,433 27,112 (26,237) 154,308 Brokerage payables 17,452 13,471 30,923 0 0 30,923 Other liabilities 9,995 20,332 30,327 457 (677) 30,107 Total liabilities 103,999 622,076 726,075 28,933 (30,111) 724,897 Total shareholders' equity 15,971 29,325 45,296 43,922 (45,296) 43,922 Noncontrolling interests 79 619 698 0 (601) 97 Total equity 16,050 29,944 45,994 43,922 (45,897) 44,019 Total liabilities and equity 120,049 652,020 772,069 72,855 (76,008) 768,916 1 Includes eliminations and consolidation adjustments. 2 Residential and commercial mortgage-backed securities that were previously reported in investment securities have been reclassified to trading assets as these securities are carried at fair value under the fair value option. 3 Includes premises and equipment which were previously presented separately in the consolidated balance sheet. Condensed consolidating statements of cash flows Bank 1 Operating activities (CHF million) Net cash provided by/(used in) operating activities 738 (3,240) (2,502) (111) 2 (847) (3,460) Investing activities (CHF million) (Increase)/decrease in interest-bearing deposits with banks 12 225 237 5 (6) 236 (Increase)/decrease in central bank funds sold, securities purchased under resale agreements and securities borrowing transactions (3,428) 6,348 2,920 0 0 2,920 Purchase of investment securities 0 (307) (307) (3,517) 3,517 (307) Proceeds from sale of investment securities 0 4 4 0 0 4 Maturities of investment securities 0 394 394 0 0 394 Investments in subsidiaries and other investments (40) (107) (147) (5) 5 (147) Proceeds from sale of other investments 317 251 568 25 (1) 592 (Increase)/decrease in loans (419) (10,646) (11,065) 0 1,198 (9,867) Proceeds from sales of loans 0 2,460 2,460 0 0 2,460 Capital expenditures for premises and equipment and other intangible assets (144) (327) (471) 0 (83) (554) Proceeds from sale of premises and equipment and other intangible assets 0 29 29 0 0 29 Other, net 40 182 222 0 0 222 Net cash provided by/(used in) investing activities (3,662) (1,494) (5,156) (3,492) 4,630 (4,018) Financing activities (CHF million) Increase/(decrease) in due to banks and customer deposits 37 4,872 4,909 405 (317) 4,997 Increase/(decrease) in short-term borrowings (228) 4,119 3,891 0 (47) 3,844 Increase/(decrease) in central bank funds purchased, securities sold under repurchase agreements and securities lending transactions (228) (4,628) (4,856) 0 (111) (4,967) Issuances of long-term debt 106,285 (91,626) 14,659 4,217 (4,239) 14,637 Repayments of long-term debt (102,644) 84,040 (18,604) 0 0 (18,604) Sale of treasury shares 0 0 0 3 4,717 4,720 Repurchase of treasury shares 0 0 0 (1,013) (4,705) (5,718) Dividends paid (1) (10) (11) (695) 10 (696) Other, net (126) 406 280 626 948 1,854 Net cash provided by/(used in) financing activities 3,095 (2,827) 268 3,543 (3,744) 67 Effect of exchange rate changes on cash and due from banks (CHF million) Effect of exchange rate changes on cash and due from banks (24) (126) (150) 0 3 (147) Net increase/(decrease) in cash and due from banks (CHF million) Net increase/(decrease) in cash and due from banks 147 (7,687) (7,540) (60) 42 (7,558) Cash and due from banks at beginning of period 3 2,540 96,774 99,314 324 409 100,047 Cash and due from banks at end of period 3 2,687 89,087 91,774 264 451 92,489 1 Includes eliminations and consolidation adjustments. 2 Consists of dividend payments from Group companies of CHF 10 million and CHF 14 million from bank and non-bank subsidiaries, respectively, and other cash items from parent company operations such as Group financing. 3 Includes restricted cash. Condensed consolidating statements of cash flows (continued) Bank 1 Operating activities (CHF million) Net cash provided by/(used in) operating activities (1,870) 13,698 11,828 (130) 2 156 11,854 Investing activities (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 0 130 130 0 0 130 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 (11,738) 3 (11,587) 3 0 1,416 (10,171) 3 Proceeds from sales of loans 0 3,472 3 3,472 3 0 0 3,472 3 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 1,577 (10,804) (9,227) (4,855) 6,162 (7,920) Financing activities (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 (305) (467) (772) 1,009 25 262 Net cash provided by/(used in) financing activities 170 (1,131) (961) 4,735 (5,487) (1,713) 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 4 3,058 106,452 109,510 516 (211) 109,815 Cash and due from banks at end of period 4 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 Balance has been corrected. 4 Includes restricted cash. |
Recently issued accounting st_2
Recently issued accounting standards (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||||
Jun. 30, 2019 | Mar. 31, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Jan. 01, 2019 | Dec. 31, 2018 | |
New Accounting Pronouncement or Change in Accounting Principle, Retrospective Adjustments [Abstract] | |||||||
Net revenues | SFr 5,581 | SFr 5,387 | SFr 5,595 | SFr 10,968 | SFr 11,231 | ||
Total operating expenses | 4,254 | 4,244 | 4,470 | 8,498 | 9,004 | ||
Compensation and benefits | 2,545 | 2,518 | 2,547 | 5,063 | 5,085 | ||
General and administrative expenses | 1,395 | 1,413 | 1,420 | 2,808 | 2,928 | ||
Retained Earnings (Accumulated Deficit) | 28,901 | 27,964 | 28,901 | SFr 26,973 | |||
Accumulated Other Comprehensive Income (Loss), Net of Tax | (18,946) | (18,873) | (18,946) | (17,981) | |||
Assets and Liabilities, Lessee [Abstract] | |||||||
Operating Lease, Right-of-Use Asset | 2,959 | 3,211 | 2,959 | ||||
Operating Lease, Liability | 3,143 | SFr 3,468 | 3,143 | ||||
Accounting Standards Update 2016-02 [Member] | |||||||
New Accounting Pronouncement or Change in Accounting Principle, Retrospective Adjustments [Abstract] | |||||||
Retained Earnings (Accumulated Deficit) | SFr 200 | ||||||
Accounting Standards Update 2016-02 [Member] | Adjustments for New Accounting Principle, Early Adoption [Member] | |||||||
Assets and Liabilities, Lessee [Abstract] | |||||||
Finance Lease, Right-of-Use Asset | 3,300 | ||||||
Operating Lease, Liability | 3,500 | ||||||
Accounting Standards Update 2018-02 [Member] | Adjustments for New Accounting Principle, Early Adoption [Member] | |||||||
New Accounting Pronouncement or Change in Accounting Principle, Retrospective Adjustments [Abstract] | |||||||
Retained Earnings (Accumulated Deficit) | 64 | ||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax | (64) | ||||||
Accounting Standards Update 2018-13 [Member] | Adjustments for New Accounting Principle, Early Adoption [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 | 0 | ||||||
Accounting Standards Update 2018-16 [Member] | Adjustments for New Accounting Principle, Early Adoption [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 | ||||||
Bank | |||||||
New Accounting Pronouncement or Change in Accounting Principle, Retrospective Adjustments [Abstract] | |||||||
Net revenues | 5,676 | 5,611 | 11,111 | 11,196 | |||
Total operating expenses | 4,381 | 4,561 | 8,744 | 9,188 | |||
Compensation and benefits | 2,305 | 2,353 | 4,609 | 4,701 | |||
General and administrative expenses | 1,763 | SFr 1,735 | 3,508 | SFr 3,558 | |||
Retained Earnings (Accumulated Deficit) | 11,964 | 11,964 | 10,179 | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax | (16,398) | (16,398) | SFr (14,840) | ||||
Assets and Liabilities, Lessee [Abstract] | |||||||
Operating Lease, Right-of-Use Asset | 2,157 | 2,157 | |||||
Operating Lease, Liability | SFr 2,311 | SFr 2,311 |
Business developments (Details)
Business developments (Details) - shares | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | |
Business Acquisition | |||||||
Issued shares (in shares) | 2,556,011,720 | 2,556,011,720 | 2,556,011,720 | 2,556,011,720 | 2,556,011,720 | 2,556,011,720 | |
Bank | |||||||
Business Acquisition | |||||||
Issued shares (in shares) | [1] | 4,399,680,200 | 4,399,680,200 | ||||
[1] | The Bank's total share capital is fully paid and consists of 4,399,680,200 registered shares as of June 30, 2019. Each share is entitled to one vote. The Bank has no warrants on its own shares outstanding. |
Business developments - Sale (D
Business developments - Sale (Details 5) | 3 Months Ended |
Jun. 30, 2019 | |
Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | Credit Suisse InvestLab AG [Member] | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Disposal Group, Including Discontinued Operation, Description and Timing of Disposal | In June 2019, the Group announced an agreement with Allfunds Group (Allfunds) to combine the Group’s open architecture investment fund platform, Credit Suisse InvestLab AG, with Allfunds. The transaction comprises the transfer of all shares in Credit Suisse Investlab AG, including the service agreements and related distribution agreements of Credit Suisse AG, to Allfunds. As part of this combination, Credit Suisse AG will become a minority shareholder of up to 18% in the combined business and will be represented on the board of directors. Going forward, Credit Suisse AG will utilize the combined business platform to distribute mutual funds and exchange-traded funds. The transaction, which is subject to customary closing conditions including anti-trust and regulatory approvals, will be implemented in staggered closings. The closing of the transfer of Credit Suisse InvestLab AG is expected in 3Q19. The subsequent transfer of the related distribution agreements by Credit Suisse AG is expected to be completed in 1Q20. |
Segment information - Income st
Segment information - Income statement related (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Mar. 31, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Segment Reporting Information | |||||
Net revenues | SFr 5,581 | SFr 5,387 | SFr 5,595 | SFr 10,968 | SFr 11,231 |
Income/(loss) before taxes | 1,302 | 1,062 | 1,052 | 2,364 | 2,106 |
Operating Segments [Member] | Swiss Universal Bank | |||||
Segment Reporting Information | |||||
Net revenues | 1,476 | 1,379 | 1,419 | 2,855 | 2,850 |
Income/(loss) before taxes | 654 | 550 | 553 | 1,204 | 1,116 |
Operating Segments [Member] | International Wealth Management | |||||
Segment Reporting Information | |||||
Net revenues | 1,369 | 1,417 | 1,344 | 2,786 | 2,747 |
Income/(loss) before taxes | 444 | 523 | 433 | 967 | 917 |
Operating Segments [Member] | Asia Pacific | |||||
Segment Reporting Information | |||||
Net revenues | 913 | 854 | 914 | 1,767 | 1,905 |
Income/(loss) before taxes | 237 | 183 | 217 | 420 | 451 |
Operating Segments [Member] | Global Markets | |||||
Segment Reporting Information | |||||
Net revenues | 1,553 | 1,472 | 1,426 | 3,025 | 2,972 |
Income/(loss) before taxes | 357 | 282 | 148 | 639 | 443 |
Operating Segments [Member] | Investment Banking & Capital Markets | |||||
Segment Reporting Information | |||||
Net revenues | 454 | 356 | 644 | 810 | 1,172 |
Income/(loss) before taxes | 6 | (93) | 110 | (87) | 169 |
Operating Segments [Member] | Strategic Resolution Unit | |||||
Segment Reporting Information | |||||
Net revenues | (176) | (379) | |||
Income/(loss) before taxes | (368) | (777) | |||
Corporate Center | |||||
Segment Reporting Information | |||||
Net revenues | (184) | (91) | 24 | (275) | (36) |
Income/(loss) before taxes | (396) | SFr (383) | (41) | (779) | (213) |
Bank | |||||
Segment Reporting Information | |||||
Net revenues | 5,676 | 5,611 | 11,111 | 11,196 | |
Income/(loss) before taxes | SFr 1,270 | SFr 977 | 2,261 | 1,887 | |
Bank | Operating Segments [Member] | Swiss Universal Bank | |||||
Segment Reporting Information | |||||
Net revenues | 2,855 | 2,850 | |||
Income/(loss) before taxes | 1,204 | 1,116 | |||
Bank | Operating Segments [Member] | International Wealth Management | |||||
Segment Reporting Information | |||||
Net revenues | 2,786 | 2,747 | |||
Income/(loss) before taxes | 967 | 917 | |||
Bank | Operating Segments [Member] | Asia Pacific | |||||
Segment Reporting Information | |||||
Net revenues | 1,767 | 1,905 | |||
Income/(loss) before taxes | 420 | 451 | |||
Bank | Operating Segments [Member] | Global Markets | |||||
Segment Reporting Information | |||||
Net revenues | 3,025 | 2,972 | |||
Income/(loss) before taxes | 639 | 443 | |||
Bank | Operating Segments [Member] | Investment Banking & Capital Markets | |||||
Segment Reporting Information | |||||
Net revenues | 810 | 1,172 | |||
Income/(loss) before taxes | (87) | 169 | |||
Bank | Operating Segments [Member] | Strategic Resolution Unit | |||||
Segment Reporting Information | |||||
Net revenues | (379) | ||||
Income/(loss) before taxes | (777) | ||||
Bank | Adjustments | |||||
Segment Reporting Information | |||||
Net revenues | (132) | (71) | |||
Income/(loss) before taxes | SFr (882) | SFr (432) |
Segment information - Balance s
Segment information - Balance sheet related (Details 2) - CHF (SFr) SFr in Millions | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 |
Segment Reporting Information | |||
Total assets | SFr 784,216 | SFr 793,636 | SFr 768,916 |
Operating Segments | Swiss Universal Bank | |||
Segment Reporting Information | |||
Total assets | 229,705 | 228,664 | 224,301 |
Operating Segments | International Wealth Management | |||
Segment Reporting Information | |||
Total assets | 94,591 | 93,968 | 91,835 |
Operating Segments | Asia Pacific | |||
Segment Reporting Information | |||
Total assets | 106,592 | 105,868 | 99,809 |
Operating Segments | Global Markets | |||
Segment Reporting Information | |||
Total assets | 217,930 | 227,482 | 211,530 |
Operating Segments | Investment Banking & Capital Markets | |||
Segment Reporting Information | |||
Total assets | 17,667 | 17,494 | 16,156 |
Operating Segments | Strategic Resolution Unit | |||
Segment Reporting Information | |||
Total assets | 20,874 | ||
Corporate Center | |||
Segment Reporting Information | |||
Total assets | 117,731 | SFr 120,160 | 104,411 |
Bank | |||
Segment Reporting Information | |||
Total assets | 786,828 | 772,069 | |
Bank | Operating Segments | Swiss Universal Bank | |||
Segment Reporting Information | |||
Total assets | 229,705 | 224,301 | |
Bank | Operating Segments | International Wealth Management | |||
Segment Reporting Information | |||
Total assets | 94,591 | 91,835 | |
Bank | Operating Segments | Asia Pacific | |||
Segment Reporting Information | |||
Total assets | 106,592 | 99,809 | |
Bank | Operating Segments | Global Markets | |||
Segment Reporting Information | |||
Total assets | 217,930 | 211,530 | |
Bank | Operating Segments | Investment Banking & Capital Markets | |||
Segment Reporting Information | |||
Total assets | 17,667 | 16,156 | |
Bank | Operating Segments | Strategic Resolution Unit | |||
Segment Reporting Information | |||
Total assets | 20,874 | ||
Bank | Adjustments | |||
Segment Reporting Information | |||
Total assets | SFr 120,343 | SFr 107,564 |
Net interest income (Details)
Net interest income (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Mar. 31, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Net interest income | |||||
Loans | SFr 1,855 | SFr 1,787 | SFr 1,679 | SFr 3,642 | SFr 3,282 |
Investment securities | 3 | 3 | 20 | 6 | 30 |
Trading assets | 2,246 | 1,500 | 1,968 | 3,746 | 3,540 |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 779 | 781 | 706 | 1,560 | 1,363 |
Other | 770 | 747 | 717 | 1,517 | 1,326 |
Interest and dividend income | 5,653 | 4,818 | 5,090 | 10,471 | 9,541 |
Deposits | (808) | (783) | (587) | (1,591) | (1,037) |
Short-term borrowings | (114) | (97) | (123) | (211) | (205) |
Trading liabilities | (1,069) | (714) | (1,144) | (1,783) | (2,004) |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (456) | (482) | (477) | (938) | (876) |
Long-term debt | (910) | (904) | (982) | (1,814) | (1,892) |
Other | (295) | (306) | (184) | (601) | (349) |
Interest expense | (3,652) | (3,286) | (3,497) | (6,938) | (6,363) |
Net interest income | 2,001 | SFr 1,532 | 1,593 | 3,533 | 3,178 |
Bank | |||||
Net interest income | |||||
Loans | 3,646 | 3,285 | |||
Investment securities | 5 | 30 | |||
Trading assets | 3,746 | 3,540 | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 1,560 | 1,363 | |||
Other | 1,519 | 1,328 | |||
Interest and dividend income | 5,655 | 5,094 | 10,476 | 9,546 | |
Deposits | (1,593) | (1,038) | |||
Short-term borrowings | (218) | (210) | |||
Trading liabilities | (1,783) | (2,004) | |||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (938) | (876) | |||
Long-term debt | (1,788) | (1,828) | |||
Other | (601) | (347) | |||
Interest expense | (3,648) | (3,467) | (6,921) | (6,303) | |
Net interest income | SFr 2,007 | SFr 1,627 | SFr 3,555 | SFr 3,243 |
Commissions and fees (Details)
Commissions and fees (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Mar. 31, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Commissions and fees | |||||
Commissions and fees | SFr 2,927 | SFr 2,612 | SFr 3,159 | SFr 5,539 | SFr 6,205 |
Lending business | |||||
Commissions and fees | |||||
Commissions and fees | 443 | 396 | 529 | 839 | 999 |
Investment and portfolio management | |||||
Commissions and fees | |||||
Commissions and fees | 846 | 845 | 896 | 1,691 | 1,788 |
Other securities business | |||||
Commissions and fees | |||||
Commissions and fees | 16 | 12 | 11 | 28 | 23 |
Fiduciary business | |||||
Commissions and fees | |||||
Commissions and fees | 862 | 857 | 907 | 1,719 | 1,811 |
Underwriting | |||||
Commissions and fees | |||||
Commissions and fees | 514 | 345 | 513 | 859 | 983 |
Brokerage | |||||
Commissions and fees | |||||
Commissions and fees | 734 | 693 | 745 | 1,427 | 1,555 |
Underwriting and brokerage | |||||
Commissions and fees | |||||
Commissions and fees | 1,248 | 1,038 | 1,258 | 2,286 | 2,538 |
Other services | |||||
Commissions and fees | |||||
Commissions and fees | 374 | SFr 321 | 465 | 695 | 857 |
Bank | |||||
Commissions and fees | |||||
Commissions and fees | SFr 2,904 | SFr 3,120 | 5,483 | 6,126 | |
Bank | Lending business | |||||
Commissions and fees | |||||
Commissions and fees | 827 | 984 | |||
Bank | Investment and portfolio management | |||||
Commissions and fees | |||||
Commissions and fees | 1,612 | 1,693 | |||
Bank | Other securities business | |||||
Commissions and fees | |||||
Commissions and fees | 46 | 44 | |||
Bank | Fiduciary business | |||||
Commissions and fees | |||||
Commissions and fees | 1,658 | 1,737 | |||
Bank | Underwriting | |||||
Commissions and fees | |||||
Commissions and fees | 861 | 983 | |||
Bank | Brokerage | |||||
Commissions and fees | |||||
Commissions and fees | 1,435 | 1,556 | |||
Bank | Underwriting and brokerage | |||||
Commissions and fees | |||||
Commissions and fees | 2,296 | 2,539 | |||
Bank | Other services | |||||
Commissions and fees | |||||
Commissions and fees | SFr 702 | SFr 866 |
Trading revenues (Details)
Trading revenues (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Mar. 31, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Trading revenues | |||||
Trading revenues | SFr 182 | SFr 840 | SFr 528 | SFr 1,022 | SFr 1,106 |
Interest rate products | |||||
Trading revenues | |||||
Trading revenues | (334) | 430 | (301) | 96 | 556 |
Foreign exchange products | |||||
Trading revenues | |||||
Trading revenues | (60) | (215) | (31) | (275) | 153 |
Equity/index-related products | |||||
Trading revenues | |||||
Trading revenues | 114 | 740 | 723 | 854 | 396 |
Credit products | |||||
Trading revenues | |||||
Trading revenues | 198 | (328) | 65 | (130) | 99 |
Commodity, emission and energy products | |||||
Trading revenues | |||||
Trading revenues | 36 | 48 | 13 | 84 | 39 |
Other trading securities | |||||
Trading revenues | |||||
Trading revenues | 228 | SFr 165 | 59 | 393 | (137) |
Bank | |||||
Trading revenues | |||||
Trading revenues | SFr 231 | SFr 534 | 1,087 | 1,048 | |
Bank | Interest rate products | |||||
Trading revenues | |||||
Trading revenues | 94 | 559 | |||
Bank | Foreign exchange products | |||||
Trading revenues | |||||
Trading revenues | (276) | 152 | |||
Bank | Equity/index-related products | |||||
Trading revenues | |||||
Trading revenues | 924 | 336 | |||
Bank | Credit products | |||||
Trading revenues | |||||
Trading revenues | (130) | 99 | |||
Bank | Commodity, emission and energy products | |||||
Trading revenues | |||||
Trading revenues | 84 | 39 | |||
Bank | Other trading securities | |||||
Trading revenues | |||||
Trading revenues | SFr 391 | SFr (137) |
Other revenues (Details)
Other revenues (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Mar. 31, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Other Revenues | |||||
Noncontrolling interests without SEI | SFr 0 | SFr 0 | SFr 0 | SFr 0 | SFr (1) |
Loans held-for-sale | (7) | (9) | 1 | (16) | 11 |
Long-lived assets held-for-sale | 74 | 29 | 0 | 103 | 16 |
Equity method investments | 54 | 56 | 52 | 110 | 121 |
Other investments | 121 | 102 | 61 | 223 | 189 |
Other | 229 | 225 | 201 | 454 | 406 |
Other revenues | 471 | SFr 403 | 315 | 874 | 742 |
Bank | |||||
Other Revenues | |||||
Loans held-for-sale | (16) | 11 | |||
Long-lived assets held-for-sale | 103 | 16 | |||
Equity method investments | 109 | 119 | |||
Other investments | 222 | 188 | |||
Other | 568 | 445 | |||
Other revenues | SFr 534 | SFr 330 | SFr 986 | SFr 779 |
Provision for credit losses (De
Provision for credit losses (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Mar. 31, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Provision for credit losses | |||||
Provision for loan losses | SFr 15 | SFr 75 | SFr 60 | SFr 90 | SFr 96 |
Provision for lending-related and other exposures | 10 | 6 | 13 | 16 | 25 |
Provision for credit losses | 25 | SFr 81 | 73 | 106 | 121 |
Bank | |||||
Provision for credit losses | |||||
Provision for loan losses | 90 | 96 | |||
Provision for lending-related and other exposures | 16 | 25 | |||
Provision for credit losses | SFr 25 | SFr 73 | SFr 106 | SFr 121 |
Compensation and benefits (Deta
Compensation and benefits (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Mar. 31, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Compensation and benefits | |||||
Salaries and variable compensation | SFr 2,161 | SFr 2,170 | SFr 2,148 | SFr 4,331 | SFr 4,337 |
Social security | 187 | 159 | 200 | 346 | 360 |
Other | 197 | 189 | 199 | 386 | 388 |
Compensation and benefits | 2,545 | 2,518 | 2,547 | 5,063 | 5,085 |
Defined Benefit Plan, Service Cost | 68 | 67 | 65 | 135 | 130 |
Defined benefit and defined contribution | |||||
Compensation and benefits | |||||
Defined Benefit Plan, Service Cost | 112 | SFr 108 | 108 | 220 | 215 |
Bank | |||||
Compensation and benefits | |||||
Salaries and variable compensation | 3,900 | 3,943 | |||
Social security | 301 | 315 | |||
Other | 408 | 443 | |||
Compensation and benefits | SFr 2,305 | SFr 2,353 | 4,609 | 4,701 | |
Bank | Defined benefit and defined contribution | |||||
Compensation and benefits | |||||
Defined Benefit Plan, Service Cost | 256 | 278 | |||
Bank | International | |||||
Compensation and benefits | |||||
Defined Benefit Plan, Service Cost | SFr 8 | SFr 8 |
General and administrative ex_3
General and administrative expenses (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Mar. 31, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
General and Administrative Expenses | |||||
Occupancy expenses | SFr 247 | SFr 282 | SFr 248 | SFr 529 | SFr 488 |
IT, machinery, etc. | 326 | 323 | 273 | 649 | 550 |
Provisions and losses | 78 | 58 | 97 | 136 | 237 |
Travel and entertainment | 88 | 78 | 83 | 166 | 177 |
Professional services | 407 | 403 | 428 | 810 | 911 |
Amortization and impairment of other intangible assets | 1 | 2 | 2 | 3 | 5 |
Other | 248 | 267 | 289 | 515 | 560 |
General and administrative expenses | 1,395 | 1,413 | 1,420 | 2,808 | 2,928 |
Net Periodic Defined Benefits Expense (Reversal of Expense), Excluding Service Cost Component | (52) | SFr (34) | (52) | (86) | (105) |
Bank | |||||
General and Administrative Expenses | |||||
Occupancy expenses | 478 | 435 | |||
IT, machinery, etc. | 515 | 428 | |||
Provisions and losses | 136 | 237 | |||
Travel and entertainment | 151 | 164 | |||
Professional services | 1,497 | 1,490 | |||
Amortization and impairment of other intangible assets | 3 | 5 | |||
Other | 728 | 799 | |||
General and administrative expenses | SFr 1,763 | SFr 1,735 | 3,508 | 3,558 | |
Net Periodic Defined Benefits Expense (Reversal of Expense), Excluding Service Cost Component | SFr 5 | SFr 15 |
Restructuring expenses (Details
Restructuring expenses (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended |
Jun. 30, 2018 | Jun. 30, 2018 | |
Restructuring Cost and Reserve [Line Items] | ||
Restructuring expenses | SFr 175 | SFr 319 |
General and Administrative Expense [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring expenses | 90 | 131 |
of which pensions | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring expenses | 25 | 52 |
Compensation and benefits | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring expenses | 85 | 188 |
of which severance | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring expenses | 58 | 127 |
of which accelerated deferred compensation | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring expenses | 27 | 61 |
Operating Segments | Swiss Universal Bank | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring expenses | 27 | 55 |
Operating Segments | International Wealth Management | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring expenses | 28 | 54 |
Operating Segments | Asia Pacific | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring expenses | 20 | 26 |
Operating Segments | Global Markets | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring expenses | 56 | 98 |
Operating Segments | Investment Banking & Capital Markets | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring expenses | 31 | 61 |
Operating Segments | Strategic Resolution Unit | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring expenses | 13 | 24 |
Corporate Center | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring expenses | 0 | 1 |
Bank | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring expenses | SFr 145 | 257 |
Bank | General and Administrative Expense [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring expenses | 77 | |
Bank | Compensation and benefits | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring expenses | 180 | |
Bank | of which severance | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring expenses | 119 | |
Bank | of which accelerated deferred compensation | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring expenses | 61 | |
Bank | Operating Segments | Swiss Universal Bank | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring expenses | 55 | |
Bank | Operating Segments | International Wealth Management | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring expenses | 54 | |
Bank | Operating Segments | Asia Pacific | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring expenses | 26 | |
Bank | Operating Segments | Global Markets | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring expenses | 98 | |
Bank | Operating Segments | Investment Banking & Capital Markets | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring expenses | 61 | |
Bank | Operating Segments | Strategic Resolution Unit | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring expenses | 24 | |
Bank | Corporate Center | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring expenses | 1 | |
Bank | Adjustments | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring expenses | SFr (62) |
Restructuring provision - Rollf
Restructuring provision - Rollforward (Details 2) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Restructuring provision | ||||
Restructuring Reserve, Beginning Balance | SFr 346 | SFr 306 | ||
Restructuring expenses | SFr 175 | 319 | ||
Reclassifications | (346) | |||
Utilization | 179 | |||
Restructuring Reserve, Ending Balance | SFr 0 | 329 | 0 | 329 |
Stock compensation plan | Share awards | ||||
Restructuring provision | ||||
Vesting period | 3 years | |||
General and Administrative Expense [Member] | ||||
Restructuring provision | ||||
Restructuring Reserve, Beginning Balance | 190 | 110 | ||
Restructuring expenses | 90 | 131 | ||
Reclassifications | (190) | |||
Utilization | 48 | |||
Restructuring Reserve, Ending Balance | SFr 0 | 137 | 0 | 137 |
General and Administrative Expense [Member] | Other liabilities | ||||
Restructuring provision | ||||
Reclassifications | 23 | |||
General and Administrative Expense [Member] | Right-of-use assets | ||||
Restructuring provision | ||||
Reclassifications | 167 | |||
of which pensions | ||||
Restructuring provision | ||||
Restructuring expenses | 25 | 52 | ||
Compensation and benefits | ||||
Restructuring provision | ||||
Restructuring Reserve, Beginning Balance | 156 | 196 | ||
Restructuring expenses | 58 | 127 | ||
Reclassifications | (156) | |||
Utilization | 131 | |||
Restructuring Reserve, Ending Balance | 0 | 192 | 0 | 192 |
Compensation and benefits | Other liabilities | ||||
Restructuring provision | ||||
Reclassifications | 59 | |||
Compensation and benefits | Litigation provision | ||||
Restructuring provision | ||||
Reclassifications | 97 | |||
Unsettled share-based compensation obligations classified as a component of total shareholders equity | ||||
Restructuring provision | ||||
Restructuring expenses | 46 | |||
Unsettled cash-based compensation obligations classified as compensation liabilities | ||||
Restructuring provision | ||||
Restructuring expenses | 15 | |||
Excluding unsettled compensation, pension obligations and accelerated accumulated depreciation | ||||
Restructuring provision | ||||
Restructuring expenses | 202 | |||
General and Administrative Expense, Excluding accelerated accumulated depreciation and pension obligations [Member] | ||||
Restructuring provision | ||||
Restructuring expenses | 75 | |||
Accelerated accumulated depreciation | ||||
Restructuring provision | ||||
Restructuring expenses | 4 | |||
Bank | ||||
Restructuring provision | ||||
Restructuring Reserve, Beginning Balance | 342 | 301 | ||
Restructuring expenses | 145 | 257 | ||
Reclassifications | (342) | |||
Utilization | 169 | |||
Restructuring Reserve, Ending Balance | 0 | 324 | SFr 0 | 324 |
Bank | Stock compensation plan | Share awards | ||||
Restructuring provision | ||||
Vesting period | 3 years | |||
Bank | General and Administrative Expense [Member] | ||||
Restructuring provision | ||||
Restructuring Reserve, Beginning Balance | SFr 190 | 110 | ||
Restructuring expenses | 77 | |||
Reclassifications | (190) | |||
Utilization | 46 | |||
Restructuring Reserve, Ending Balance | 0 | 137 | 0 | 137 |
Bank | General and Administrative Expense [Member] | Other liabilities | ||||
Restructuring provision | ||||
Reclassifications | 23 | |||
Bank | General and Administrative Expense [Member] | Right-of-use assets | ||||
Restructuring provision | ||||
Reclassifications | 167 | |||
Bank | Compensation and benefits | ||||
Restructuring provision | ||||
Restructuring Reserve, Beginning Balance | 152 | 191 | ||
Restructuring expenses | 119 | |||
Reclassifications | (152) | |||
Utilization | 123 | |||
Restructuring Reserve, Ending Balance | SFr 0 | SFr 187 | 0 | 187 |
Bank | Compensation and benefits | Other liabilities | ||||
Restructuring provision | ||||
Reclassifications | 55 | |||
Bank | Compensation and benefits | Litigation provision | ||||
Restructuring provision | ||||
Reclassifications | SFr 97 | |||
Bank | Unsettled share-based compensation obligations classified as a component of total shareholders equity | ||||
Restructuring provision | ||||
Restructuring expenses | 46 | |||
Bank | Unsettled cash-based compensation obligations classified as compensation liabilities | ||||
Restructuring provision | ||||
Restructuring expenses | 15 | |||
Bank | Excluding unsettled compensation, pension obligations and accelerated accumulated depreciation | ||||
Restructuring provision | ||||
Restructuring expenses | 192 | |||
Bank | General and Administrative Expense, Excluding accelerated accumulated depreciation and pension obligations [Member] | ||||
Restructuring provision | ||||
Restructuring expenses | 73 | |||
Bank | Accelerated accumulated depreciation | ||||
Restructuring provision | ||||
Restructuring expenses | SFr 4 |
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, 2019 | Mar. 31, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Net income/(loss) attributable to shareholders | |||||
Net income/(loss) attributable to shareholders | SFr 937 | SFr 749 | SFr 647 | SFr 1,686 | SFr 1,341 |
Net income attributable to shareholders for basic earnings per share | 937 | 749 | 647 | 1,686 | 1,341 |
Net income/(loss) attributable to shareholders for diluted earnings per share | SFr 937 | SFr 749 | SFr 647 | SFr 1,686 | SFr 1,341 |
Weighted-average shares outstanding | |||||
Weighted-average shares outstanding for basic earnings per share available for common shares (in shares) | 2,546.1 | 2,573.1 | 2,581.9 | 2,559.6 | 2,584.1 |
Dilutive share options and warrants (in shares) | 4 | 3.4 | 3.3 | 3.6 | 2.8 |
Dilutive share awards (in shares) | 46.4 | 45.3 | 44.9 | 45.9 | 55 |
Weighted-average shares outstanding for diluted earnings per share available for common shares (in shares) | 2,596.5 | 2,621.8 | 2,630.1 | 2,609.1 | 2,641.9 |
Basic earnings per share available for common shares (CHF) | |||||
Basic earnings/(loss) per share (in CHF per share) | SFr 0.37 | SFr 0.29 | SFr 0.25 | SFr 0.66 | SFr 0.52 |
Diluted earnings per share available for common shares (CHF) | |||||
Diluted earnings/(loss) per share (in CHF per share) | SFr 0.36 | SFr 0.29 | SFr 0.25 | SFr 0.65 | SFr 0.51 |
Weighted-average potential dilutive common shares | 6.2 | 6.7 | 9.1 | 6.5 | 10.4 |
Revenue from contracts with c_3
Revenue from contracts with customers (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Mar. 31, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Disaggregation of Revenue [Line Items] | |||||
Revenues from contracts with customers | SFr 2,483 | SFr 2,218 | SFr 2,640 | SFr 4,701 | SFr 5,311 |
Other securities business [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenues from contracts with customers | 16 | 12 | 11 | 28 | 23 |
Underwriting [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenues from contracts with customers | 514 | 345 | 513 | 859 | 983 |
Brokerage [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenues from contracts with customers | 732 | 694 | 749 | 1,426 | 1,559 |
Investment Advice [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenues from contracts with customers | 846 | 845 | 896 | 1,691 | 1,788 |
Service, Other [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenues from contracts with customers | SFr 375 | SFr 322 | SFr 471 | 697 | 958 |
Bank | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenues from contracts with customers | 4,697 | 5,246 | |||
Bank | Other securities business [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenues from contracts with customers | 46 | 44 | |||
Bank | Underwriting [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenues from contracts with customers | 861 | 983 | |||
Bank | Brokerage [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenues from contracts with customers | 1,433 | 1,560 | |||
Bank | Investment Advice [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenues from contracts with customers | 1,612 | 1,693 | |||
Bank | Service, Other [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenues from contracts with customers | SFr 745 | SFr 966 |
Revenue from contracts with c_4
Revenue from contracts with customers (Details 2) - CHF (SFr) SFr in Millions | 3 Months Ended | ||
Jun. 30, 2019 | Mar. 31, 2019 | Jun. 30, 2018 | |
Contract balances [Line Items] | |||
Accounts Receivable, Net | SFr 901 | SFr 839 | SFr 791 |
Contract with Customer, Liability | 63 | 58 | 56 |
Contract with Customer, Liability, Revenue Recognized | 10 | 7 | 16 |
Bank | |||
Contract balances [Line Items] | |||
Accounts Receivable, Net | 931 | 858 | 789 |
Contract with Customer, Liability | 63 | 58 | 56 |
Contract with Customer, Liability, Revenue Recognized | SFr 10 | SFr 7 | SFr 16 |
Securities borrowed, lent and s
Securities borrowed, lent and subject to repurchase agreements (Details) - CHF (SFr) SFr in Millions | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 |
Securities borrowed or purchased under agreements to resell | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions, total | SFr 113,466 | SFr 116,151 | SFr 117,095 |
Securities lent or sold under agreements to repurchase | |||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions, total | 19,582 | SFr 20,617 | 24,623 |
Bank | |||
Securities borrowed or purchased under agreements to resell | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions, total | 113,466 | 117,095 | |
Securities lent or sold under agreements to repurchase | |||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions, total | SFr 19,691 | SFr 24,623 |
Trading assets and liabilitie_2
Trading assets and liabilities (Details) - CHF (SFr) SFr in Millions | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 |
Schedule of Trading Assets and Liabilities | |||
Trading assets | SFr 145,613 | SFr 144,922 | SFr 133,635 |
Trading liabilities | 43,356 | 39,536 | 42,169 |
Debt securities | |||
Schedule of Trading Assets and Liabilities | |||
Trading assets | 64,468 | 62,272 | 63,567 |
Equity securities | |||
Schedule of Trading Assets and Liabilities | |||
Trading assets | 56,317 | 58,845 | 46,463 |
Derivative instruments | |||
Schedule of Trading Assets and Liabilities | |||
Trading assets | 19,561 | 18,353 | 18,312 |
Trading liabilities | 14,835 | 14,341 | 15,223 |
Other trading securities | |||
Schedule of Trading Assets and Liabilities | |||
Trading assets | 5,267 | 5,452 | 5,293 |
Short positions | |||
Schedule of Trading Assets and Liabilities | |||
Trading liabilities | 28,521 | SFr 25,195 | 26,946 |
Bank | |||
Schedule of Trading Assets and Liabilities | |||
Trading assets | 145,758 | 133,859 | |
Trading liabilities | 43,370 | 42,171 | |
Bank | Debt securities | |||
Schedule of Trading Assets and Liabilities | |||
Trading assets | 64,555 | 63,648 | |
Bank | Equity securities | |||
Schedule of Trading Assets and Liabilities | |||
Trading assets | 56,376 | 46,517 | |
Bank | Derivative instruments | |||
Schedule of Trading Assets and Liabilities | |||
Trading assets | 19,561 | 18,402 | |
Trading liabilities | 14,835 | 15,223 | |
Bank | Other trading securities | |||
Schedule of Trading Assets and Liabilities | |||
Trading assets | 5,266 | 5,292 | |
Bank | Short positions | |||
Schedule of Trading Assets and Liabilities | |||
Trading liabilities | SFr 28,535 | SFr 26,948 |
Trading assets and liabilitie_3
Trading assets and liabilities - Cash collateral - netted (Details 2) - CHF (SFr) SFr in Millions | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 |
Cash collateral - netted | |||
Cash collateral paid | SFr 19,550 | SFr 18,520 | SFr 20,216 |
Cash collateral received | 16,052 | 14,098 | 13,213 |
Cash collateral - not netted | |||
Cash collateral paid | 5,692 | 5,358 | 7,057 |
Cash collateral received | 7,048 | SFr 6,867 | 6,903 |
Bank | |||
Cash collateral - netted | |||
Cash collateral paid | 19,597 | 20,333 | |
Cash collateral received | 16,052 | 13,213 | |
Cash collateral - not netted | |||
Cash collateral paid | 5,693 | 7,057 | |
Cash collateral received | SFr 7,048 | SFr 6,903 |
Investment securities (Details)
Investment securities (Details) - CHF (SFr) SFr in Millions | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 |
Investment securities disclosures | |||
Securities available-for-sale | SFr 1,398 | SFr 1,716 | SFr 1,479 |
Total investment securities | 1,398 | SFr 1,716 | 1,479 |
Bank | |||
Investment securities disclosures | |||
Securities available-for-sale | 1,396 | 1,477 | |
Total investment securities | SFr 1,396 | SFr 1,477 |
Investment securities by type (
Investment securities by type (Details 2) - CHF (SFr) SFr in Millions | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 |
Available-for-sale securities | |||
Fair value | SFr 1,398 | SFr 1,716 | SFr 1,479 |
Debt securities | |||
Available-for-sale securities | |||
Amortized cost, Debt Securities | 1,356 | 1,472 | |
Gross unrealized gains, Debt securities | 42 | 7 | |
Gross unrealized losses, Debt securities | 0 | 0 | |
Fair value, Debt securities | 1,398 | 1,479 | |
Debt securities issued by the Swiss federal, cantonal or local government entities | |||
Available-for-sale securities | |||
Amortized cost, Debt Securities | 2 | 2 | |
Gross unrealized gains, Debt securities | 0 | 0 | |
Gross unrealized losses, Debt securities | 0 | 0 | |
Fair value, Debt securities | 2 | 2 | |
Debt securities issued by foreign governments | |||
Available-for-sale securities | |||
Amortized cost, Debt Securities | 749 | 821 | |
Gross unrealized gains, Debt securities | 12 | 7 | |
Gross unrealized losses, Debt securities | 0 | 0 | |
Fair value, Debt securities | 761 | 828 | |
Corporate debt securities | |||
Available-for-sale securities | |||
Amortized cost, Debt Securities | 605 | 649 | |
Gross unrealized gains, Debt securities | 30 | 0 | |
Gross unrealized losses, Debt securities | 0 | 0 | |
Fair value, Debt securities | 635 | 649 | |
Bank | |||
Available-for-sale securities | |||
Fair value | 1,396 | 1,477 | |
Bank | Debt securities | |||
Available-for-sale securities | |||
Amortized cost, Debt Securities | 1,354 | 1,470 | |
Gross unrealized gains, Debt securities | 42 | 7 | |
Gross unrealized losses, Debt securities | 0 | 0 | |
Fair value, Debt securities | 1,396 | 1,477 | |
Bank | Debt securities issued by foreign governments | |||
Available-for-sale securities | |||
Amortized cost, Debt Securities | 749 | 821 | |
Gross unrealized gains, Debt securities | 12 | 7 | |
Gross unrealized losses, Debt securities | 0 | 0 | |
Fair value, Debt securities | 761 | 828 | |
Bank | Corporate debt securities | |||
Available-for-sale securities | |||
Amortized cost, Debt Securities | 605 | 649 | |
Gross unrealized gains, Debt securities | 30 | 0 | |
Gross unrealized losses, Debt securities | 0 | 0 | |
Fair value, Debt securities | SFr 635 | SFr 649 |
Investment securities - Proceed
Investment securities - Proceeds/realized gains/losses (Details 4) - CHF (SFr) SFr in Millions | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Debt Securities [Member] | ||
Proceeds from sales, realized gains and realized losses from available-for-sale securities | ||
Proceeds from sales | SFr 4 | SFr 255 |
Realized gains | 0 | 8 |
Bank | Equity securities | ||
Proceeds from sales, realized gains and realized losses from available-for-sale securities | ||
Proceeds from sales | 4 | 255 |
Realized gains | SFr 0 | SFr 8 |
Investment securities - Maturit
Investment securities - Maturities of amortized costs/FV/Avg yield (Details 5) - Debt Securities [Member] - CHF (SFr) SFr in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Available-for-sale debt securities amortized cost disclosures | ||
Due within 1 year, amortized cost | SFr 744 | |
Due from 1 to 5 years, amortized cost | 2 | |
Due from 5 to 10 years, amortized cost | 610 | |
Total, amortized cost | 1,356 | SFr 1,472 |
Available-for-sale debt securities fair value disclosures | ||
Due within 1 year, fair value | 746 | |
Due from 1 to 5 years, fair value | 2 | |
Due from 5 to 10 years, fair value | 650 | |
Total, fair value | SFr 1,398 | 1,479 |
Available-for-sale debt securities average yield disclosures | ||
Due within 1 year, average yield (as a percent) | 0.80% | |
Due from 1 to 5 years, average yield (as a percent) | 3.50% | |
Due from 5 to 10 years, average yield (as a percent) | 0.85% | |
Total, average yield (as a percent) | 0.83% | |
Bank | ||
Available-for-sale debt securities amortized cost disclosures | ||
Due within 1 year, amortized cost | SFr 744 | |
Due from 5 to 10 years, amortized cost | 610 | |
Total, amortized cost | 1,354 | 1,470 |
Available-for-sale debt securities fair value disclosures | ||
Due within 1 year, fair value | 746 | |
Due from 5 to 10 years, fair value | 650 | |
Total, fair value | SFr 1,396 | SFr 1,477 |
Available-for-sale debt securities average yield disclosures | ||
Due within 1 year, average yield (as a percent) | 0.80% | |
Due from 5 to 10 years, average yield (as a percent) | 0.85% | |
Total, average yield (as a percent) | 0.82% |
Other investments (Details)
Other investments (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2019 | Mar. 31, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Other investments | ||||||
Other investments | SFr 4,986 | SFr 4,839 | SFr 4,986 | SFr 4,890 | ||
Accumulated depreciation, real estate held for investment | 32 | 32 | 32 | 31 | ||
Impairment charges | 0 | 0 | SFr 0 | 0 | SFr 0 | |
Foreclosed or Repossessed, Real Estate [Member] | ||||||
Other investments | ||||||
Other investments | 3 | 3 | 3 | 3 | ||
Equity method investments | ||||||
Other investments | ||||||
Other investments | 2,392 | 2,469 | 2,392 | 2,467 | ||
Equity securities (without a readily determinable fair value) | ||||||
Other investments | ||||||
Other investments | 1,360 | 1,132 | 1,360 | 1,207 | ||
of which at net asset value | ||||||
Other investments | ||||||
Other investments | 622 | 442 | 622 | 530 | ||
of which at measurement alternative | ||||||
Other investments | ||||||
Other investments | 255 | 248 | 255 | 227 | ||
of which at fair value | ||||||
Other investments | ||||||
Other investments | 248 | 205 | 248 | 208 | ||
of which at cost less impairment | ||||||
Other investments | ||||||
Other investments | 235 | 237 | 235 | 242 | ||
Real estate held for investment | ||||||
Other investments | ||||||
Other investments | 79 | 79 | 79 | 79 | ||
Real estate held for investment | Foreclosed or Repossessed, Real Estate [Member] | ||||||
Other investments | ||||||
Other investments | 3 | 3 | 3 | 3 | ||
Life finance instruments | ||||||
Other investments | ||||||
Other investments | 1,155 | SFr 1,159 | 1,155 | 1,137 | ||
Bank | ||||||
Other investments | ||||||
Other investments | 4,946 | 4,946 | 4,824 | |||
Accumulated depreciation, real estate held for investment | 28 | 28 | 27 | |||
Impairment charges | 0 | SFr 0 | ||||
Bank | Foreclosed or Repossessed, Real Estate [Member] | ||||||
Other investments | ||||||
Other investments | 3 | 3 | 3 | |||
Bank | Equity method investments | ||||||
Other investments | ||||||
Other investments | 2,380 | 2,380 | 2,429 | |||
Bank | Equity securities (without a readily determinable fair value) | ||||||
Other investments | ||||||
Other investments | 1,356 | 1,356 | 1,202 | |||
Bank | of which at net asset value | ||||||
Other investments | ||||||
Other investments | 620 | 620 | 526 | |||
Bank | of which at measurement alternative | ||||||
Other investments | ||||||
Other investments | 254 | 254 | 227 | |||
Bank | of which at fair value | ||||||
Other investments | ||||||
Other investments | 248 | 248 | 208 | |||
Bank | of which at cost less impairment | ||||||
Other investments | ||||||
Other investments | 234 | 234 | 241 | |||
Bank | Real estate held for investment | ||||||
Other investments | ||||||
Other investments | 55 | 55 | 56 | |||
Bank | Real estate held for investment | Foreclosed or Repossessed, Real Estate [Member] | ||||||
Other investments | ||||||
Other investments | 3 | 3 | 3 | |||
Bank | Life finance instruments | ||||||
Other investments | ||||||
Other investments | SFr 1,155 | SFr 1,155 | SFr 1,137 |
Other investments (Details 2)
Other investments (Details 2) - CHF (SFr) SFr in Millions | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Other investments | ||
Impairments and downward adjustments | SFr (7) | |
Impairments and downward adjustments, Annual Amount | 0 | SFr (3) |
Upward adjustments | 11 | |
Upward adjustments, Annual Amount | 11 | 0 |
Bank | ||
Other investments | ||
Impairments and downward adjustments | (7) | |
Impairments and downward adjustments, Annual Amount | 0 | (3) |
Upward adjustments | 11 | |
Upward adjustments, Annual Amount | SFr 11 | SFr 0 |
Loans, allowance for loan los_3
Loans, allowance for loan losses and credit quality (Details) - CHF (SFr) SFr in Millions | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 |
Loans | ||||||
Gross loans | SFr 294,788 | SFr 294,049 | SFr 288,596 | |||
of which held at amortized cost | 281,951 | 278,744 | 273,723 | SFr 272,969 | ||
of which held at fair value | 12,837 | 15,305 | 14,873 | |||
Net (unearned income)/deferred expenses | (109) | (113) | (113) | |||
Allowance for loan losses | (882) | (966) | (902) | (905) | SFr (858) | SFr (882) |
Net loans | 293,797 | 292,970 | 287,581 | |||
Foreign | ||||||
Loans | ||||||
Gross loans | 131,563 | 132,252 | 128,152 | |||
Switzerland | ||||||
Loans | ||||||
Gross loans | 163,225 | 161,797 | 160,444 | |||
Corporate and institutional | ||||||
Loans | ||||||
Gross loans | 136,587 | 137,685 | 134,812 | |||
of which held at amortized cost | 123,775 | 122,405 | 119,962 | 117,711 | ||
Allowance for loan losses | (711) | (785) | (715) | (692) | (654) | (662) |
Corporate and institutional | Real estate | ||||||
Loans | ||||||
Gross loans | 27,857 | 26,865 | 26,727 | |||
of which held at amortized cost | 26,937 | 26,065 | ||||
Corporate and institutional | Commercial and industrial loans | ||||||
Loans | ||||||
Gross loans | 87,731 | 88,305 | 85,698 | |||
of which held at amortized cost | 82,553 | 79,773 | ||||
Corporate and institutional | Financial institutions | ||||||
Loans | ||||||
Gross loans | 16,933 | 18,488 | 18,494 | |||
of which held at amortized cost | 13,001 | 12,939 | ||||
Corporate and institutional | Governments and public institutions | ||||||
Loans | ||||||
Gross loans | 4,066 | 4,027 | 3,893 | |||
of which held at amortized cost | 1,284 | 1,185 | ||||
Consumer | ||||||
Loans | ||||||
Gross loans | 158,201 | 156,364 | 153,784 | |||
of which held at amortized cost | 158,176 | 156,339 | 153,761 | 155,258 | ||
Allowance for loan losses | (171) | (181) | (187) | (213) | SFr (204) | (220) |
Consumer | Mortgages | ||||||
Loans | ||||||
Gross loans | 108,919 | 108,701 | 107,845 | |||
of which held at amortized cost | 108,919 | 107,845 | ||||
Consumer | Loans collateralized by securities | ||||||
Loans | ||||||
Gross loans | 44,317 | 43,126 | 42,034 | |||
of which held at amortized cost | 44,317 | 42,034 | ||||
Consumer | Consumer finance | ||||||
Loans | ||||||
Gross loans | 4,965 | SFr 4,537 | 3,905 | |||
of which held at amortized cost | 4,940 | 3,882 | ||||
Bank | ||||||
Loans | ||||||
Gross loans | 301,271 | 293,889 | ||||
of which held at amortized cost | 288,434 | 279,016 | 278,486 | |||
of which held at fair value | 12,837 | 14,873 | ||||
Net (unearned income)/deferred expenses | (109) | (113) | ||||
Allowance for loan losses | (881) | (901) | (904) | (881) | ||
Net loans | 300,281 | 292,875 | ||||
Bank | Foreign | ||||||
Loans | ||||||
Gross loans | 132,203 | 128,705 | ||||
Bank | Switzerland | ||||||
Loans | ||||||
Gross loans | 169,068 | 165,184 | ||||
Bank | Corporate and institutional | ||||||
Loans | ||||||
Gross loans | 143,070 | 140,105 | ||||
of which held at amortized cost | 130,258 | 125,255 | 123,228 | |||
Allowance for loan losses | (710) | (714) | (691) | (661) | ||
Bank | Corporate and institutional | Real estate | ||||||
Loans | ||||||
Gross loans | 27,857 | 26,727 | ||||
of which held at amortized cost | 26,937 | 26,065 | ||||
Bank | Corporate and institutional | Commercial and industrial loans | ||||||
Loans | ||||||
Gross loans | 88,274 | 86,165 | ||||
of which held at amortized cost | 83,096 | 80,241 | ||||
Bank | Corporate and institutional | Financial institutions | ||||||
Loans | ||||||
Gross loans | 22,873 | 23,320 | ||||
of which held at amortized cost | 18,941 | 17,764 | ||||
Bank | Corporate and institutional | Governments and public institutions | ||||||
Loans | ||||||
Gross loans | 4,066 | 3,893 | ||||
of which held at amortized cost | 1,284 | 1,185 | ||||
Bank | Consumer | ||||||
Loans | ||||||
Gross loans | 158,201 | 153,784 | ||||
of which held at amortized cost | 158,176 | 153,761 | 155,258 | |||
Allowance for loan losses | (171) | (187) | SFr (213) | SFr (220) | ||
Bank | Consumer | Mortgages | ||||||
Loans | ||||||
Gross loans | 108,919 | 107,845 | ||||
of which held at amortized cost | 108,919 | 107,845 | ||||
Bank | Consumer | Loans collateralized by securities | ||||||
Loans | ||||||
Gross loans | 44,317 | 42,034 | ||||
of which held at amortized cost | 44,317 | 42,034 | ||||
Bank | Consumer | Consumer finance | ||||||
Loans | ||||||
Gross loans | 4,965 | 3,905 | ||||
of which held at amortized cost | SFr 4,940 | SFr 3,882 |
Loans, allowance for loan los_4
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, 2019 | Mar. 31, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Allowance for loan losses | ||||||
Balance at beginning of period | SFr 966 | SFr 902 | SFr 858 | SFr 902 | SFr 882 | |
Net movements recognized in statements of operations | 15 | 75 | 60 | 90 | 96 | |
Gross write-offs | (112) | (29) | (42) | (141) | (120) | |
Recoveries | 12 | 3 | 10 | 15 | 26 | |
Net write-offs | (100) | (26) | (32) | (126) | (94) | |
Provisions for interest | 10 | 11 | 7 | 21 | 15 | |
Foreign currency translation impact and other adjustments, net | (9) | 4 | 12 | (5) | 6 | |
Balance at end of period | 882 | 966 | 905 | 882 | 905 | |
of which individually evaluated for impairment | 576 | 649 | 646 | 576 | 646 | |
of which collectively evaluated for impairment | 306 | 317 | 259 | 306 | 259 | |
Gross loans held at amortized cost | ||||||
Gross loans held at amortized cost | 281,951 | 278,744 | 272,969 | 281,951 | 272,969 | SFr 273,723 |
of which individually evaluated for impairment | 2,035 | 2,148 | 2,102 | 2,035 | 2,102 | |
of which collectively evaluated for impairment | 279,916 | 276,596 | 270,867 | 279,916 | 270,867 | |
Loans held at amortized cost | ||||||
Purchases | 472 | 505 | 541 | 977 | 1,034 | |
Reclassifications from loans held-for-sale | 10 | 1 | 1 | 11 | 1 | |
Reclassifications to loans held-for-sale | 555 | 1,193 | 856 | 1,748 | 1,217 | |
Sales | 491 | 1,115 | 800 | 1,606 | 1,130 | |
Corporate and institutional | ||||||
Allowance for loan losses | ||||||
Balance at beginning of period | 785 | 715 | 654 | 715 | 662 | |
Net movements recognized in statements of operations | 5 | 63 | 44 | 68 | 76 | |
Gross write-offs | (87) | (6) | (27) | (93) | (81) | |
Recoveries | 10 | 2 | 8 | 12 | 21 | |
Net write-offs | (77) | (4) | (19) | (81) | (60) | |
Provisions for interest | 7 | 9 | 3 | 16 | 9 | |
Foreign currency translation impact and other adjustments, net | (9) | 2 | 10 | (7) | 5 | |
Balance at end of period | 711 | 785 | 692 | 711 | 692 | |
of which individually evaluated for impairment | 446 | 509 | 474 | 446 | 474 | |
of which collectively evaluated for impairment | 265 | 276 | 218 | 265 | 218 | |
Gross loans held at amortized cost | ||||||
Gross loans held at amortized cost | 123,775 | 122,405 | 117,711 | 123,775 | 117,711 | 119,962 |
of which individually evaluated for impairment | 1,387 | 1,477 | 1,469 | 1,387 | 1,469 | |
of which collectively evaluated for impairment | 122,388 | 120,928 | 116,242 | 122,388 | 116,242 | |
Loans held at amortized cost | ||||||
Purchases | 472 | 505 | 541 | 977 | 1,034 | |
Reclassifications from loans held-for-sale | 10 | 1 | 1 | 11 | 1 | |
Reclassifications to loans held-for-sale | 555 | 1,193 | 855 | 1,748 | 1,216 | |
Sales | 491 | 1,115 | 799 | 1,606 | 1,129 | |
Consumer | ||||||
Allowance for loan losses | ||||||
Balance at beginning of period | 181 | 187 | 204 | 187 | 220 | |
Net movements recognized in statements of operations | 10 | 12 | 16 | 22 | 20 | |
Gross write-offs | (25) | (23) | (15) | (48) | (39) | |
Recoveries | 2 | 1 | 2 | 3 | 5 | |
Net write-offs | (23) | (22) | (13) | (45) | (34) | |
Provisions for interest | 3 | 2 | 4 | 5 | 6 | |
Foreign currency translation impact and other adjustments, net | 0 | 2 | 2 | 2 | 1 | |
Balance at end of period | 171 | 181 | 213 | 171 | 213 | |
of which individually evaluated for impairment | 130 | 140 | 172 | 130 | 172 | |
of which collectively evaluated for impairment | 41 | 41 | 41 | 41 | 41 | |
Gross loans held at amortized cost | ||||||
Gross loans held at amortized cost | 158,176 | 156,339 | 155,258 | 158,176 | 155,258 | 153,761 |
of which individually evaluated for impairment | 648 | 671 | 633 | 648 | 633 | |
of which collectively evaluated for impairment | 157,528 | 155,668 | 154,625 | 157,528 | 154,625 | |
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 | 0 | 0 | 1 | 0 | 1 | |
Sales | 0 | 0 | 1 | 0 | 1 | |
Bank | ||||||
Allowance for loan losses | ||||||
Balance at beginning of period | 901 | 901 | 881 | |||
Net movements recognized in statements of operations | 90 | 96 | ||||
Gross write-offs | (141) | (120) | ||||
Recoveries | 15 | 26 | ||||
Net write-offs | (126) | (94) | ||||
Provisions for interest | 21 | 15 | ||||
Foreign currency translation impact and other adjustments, net | (5) | 6 | ||||
Balance at end of period | 881 | 904 | 881 | 904 | ||
of which individually evaluated for impairment | 575 | 645 | 575 | 645 | ||
of which collectively evaluated for impairment | 306 | 259 | 306 | 259 | ||
Gross loans held at amortized cost | ||||||
Gross loans held at amortized cost | 288,434 | 278,486 | 288,434 | 278,486 | 279,016 | |
of which individually evaluated for impairment | 2,023 | 2,090 | 2,023 | 2,090 | ||
of which collectively evaluated for impairment | 286,411 | 276,396 | 286,411 | 276,396 | ||
Loans held at amortized cost | ||||||
Purchases | 977 | 1,034 | ||||
Reclassifications from loans held-for-sale | 11 | 1 | ||||
Reclassifications to loans held-for-sale | 1,748 | 1,217 | ||||
Sales | 1,606 | 1,130 | ||||
Bank | Corporate and institutional | ||||||
Allowance for loan losses | ||||||
Balance at beginning of period | 714 | 714 | 661 | |||
Net movements recognized in statements of operations | 68 | 76 | ||||
Gross write-offs | (93) | (81) | ||||
Recoveries | 12 | 21 | ||||
Net write-offs | (81) | (60) | ||||
Provisions for interest | 16 | 9 | ||||
Foreign currency translation impact and other adjustments, net | (7) | 5 | ||||
Balance at end of period | 710 | 691 | 710 | 691 | ||
of which individually evaluated for impairment | 445 | 473 | 445 | 473 | ||
of which collectively evaluated for impairment | 265 | 218 | 265 | 218 | ||
Gross loans held at amortized cost | ||||||
Gross loans held at amortized cost | 130,258 | 123,228 | 130,258 | 123,228 | 125,255 | |
of which individually evaluated for impairment | 1,375 | 1,457 | 1,375 | 1,457 | ||
of which collectively evaluated for impairment | 128,883 | 121,771 | 128,883 | 121,771 | ||
Loans held at amortized cost | ||||||
Purchases | 977 | 1,034 | ||||
Reclassifications from loans held-for-sale | 11 | 1 | ||||
Reclassifications to loans held-for-sale | 1,748 | 1,216 | ||||
Sales | 1,606 | 1,129 | ||||
Bank | Consumer | ||||||
Allowance for loan losses | ||||||
Balance at beginning of period | SFr 187 | 187 | 220 | |||
Net movements recognized in statements of operations | 22 | 20 | ||||
Gross write-offs | (48) | (39) | ||||
Recoveries | 3 | 5 | ||||
Net write-offs | (45) | (34) | ||||
Provisions for interest | 5 | 6 | ||||
Foreign currency translation impact and other adjustments, net | 2 | 1 | ||||
Balance at end of period | 171 | 213 | 171 | 213 | ||
of which individually evaluated for impairment | 130 | 172 | 130 | 172 | ||
of which collectively evaluated for impairment | 41 | 41 | 41 | 41 | ||
Gross loans held at amortized cost | ||||||
Gross loans held at amortized cost | 158,176 | 155,258 | 158,176 | 155,258 | SFr 153,761 | |
of which individually evaluated for impairment | 648 | 633 | 648 | 633 | ||
of which collectively evaluated for impairment | SFr 157,528 | SFr 154,625 | 157,528 | 154,625 | ||
Loans held at amortized cost | ||||||
Purchases | 0 | 0 | ||||
Reclassifications from loans held-for-sale | 0 | 0 | ||||
Reclassifications to loans held-for-sale | 0 | 1 | ||||
Sales | SFr 0 | SFr 1 |
Loans, allowance for loan los_5
Loans, allowance for loan losses and credit quality - Counterparty rating (Details 3) - CHF (SFr) SFr in Millions | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Jun. 30, 2018 |
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | SFr 281,951 | SFr 278,744 | SFr 273,723 | SFr 272,969 |
Value of collateral | 247,879 | 242,034 | ||
Investment grade | AAA to BBB | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 216,103 | 210,330 | ||
Value of collateral | 196,992 | 192,579 | ||
Non-investment grade | BB to C | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 63,889 | 61,287 | ||
Value of collateral | 49,464 | 47,999 | ||
Non-investment grade | D | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 1,959 | 2,106 | ||
Value of collateral | 1,423 | 1,456 | ||
Corporate and institutional | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 123,775 | 122,405 | 119,962 | 117,711 |
Corporate and institutional | Investment grade | AAA to BBB | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 74,052 | 72,180 | ||
Corporate and institutional | Non-investment grade | BB to C | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 48,363 | 46,318 | ||
Corporate and institutional | Non-investment grade | D | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 1,360 | 1,464 | ||
Corporate and institutional | Real estate | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 26,937 | 26,065 | ||
Corporate and institutional | Real estate | Investment grade | AAA to BBB | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 19,909 | 19,461 | ||
Corporate and institutional | Real estate | Non-investment grade | BB to C | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 6,898 | 6,494 | ||
Corporate and institutional | Real estate | Non-investment grade | D | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 130 | 110 | ||
Corporate and institutional | Commercial and industrial loans | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 82,553 | 79,773 | ||
Corporate and institutional | Commercial and industrial loans | Investment grade | AAA to BBB | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 42,110 | 40,872 | ||
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 | 39,300 | 37,633 | ||
Corporate and institutional | Commercial and industrial loans | Non-investment grade | D | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 1,143 | 1,268 | ||
Corporate and institutional | Financial institutions | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 13,001 | 12,939 | ||
Corporate and institutional | Financial institutions | Investment grade | AAA to BBB | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 10,789 | 10,715 | ||
Corporate and institutional | Financial institutions | Non-investment grade | BB to C | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 2,125 | 2,138 | ||
Corporate and institutional | Financial institutions | Non-investment grade | D | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 87 | 86 | ||
Corporate and institutional | Governments and public institutions | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 1,284 | 1,185 | ||
Corporate and institutional | Governments and public institutions | Investment grade | AAA to BBB | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 1,244 | 1,132 | ||
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 | 40 | 53 | ||
Corporate and institutional | Governments and public institutions | Non-investment grade | D | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 0 | 0 | ||
Consumer | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 158,176 | SFr 156,339 | 153,761 | 155,258 |
Consumer | Investment grade | AAA to BBB | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 142,051 | 138,150 | ||
Consumer | Non-investment grade | BB to C | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 15,526 | 14,969 | ||
Consumer | Non-investment grade | D | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 599 | 642 | ||
Consumer | Mortgages | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 108,919 | 107,845 | ||
Consumer | Mortgages | Investment grade | AAA to BBB | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 98,707 | 97,404 | ||
Consumer | Mortgages | Non-investment grade | BB to C | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 9,844 | 10,046 | ||
Consumer | Mortgages | Non-investment grade | D | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 368 | 395 | ||
Consumer | Loans collateralized by securities | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 44,317 | 42,034 | ||
Consumer | Loans collateralized by securities | Investment grade | AAA to BBB | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 41,092 | 39,281 | ||
Consumer | Loans collateralized by securities | Non-investment grade | BB to C | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 3,164 | 2,676 | ||
Consumer | Loans collateralized by securities | Non-investment grade | D | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 61 | 77 | ||
Consumer | Consumer finance | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 4,940 | 3,882 | ||
Consumer | Consumer finance | Investment grade | AAA to BBB | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 2,252 | 1,465 | ||
Consumer | Consumer finance | Non-investment grade | BB to C | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 2,518 | 2,247 | ||
Consumer | Consumer finance | Non-investment grade | D | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 170 | 170 | ||
Bank | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 288,434 | 279,016 | 278,486 | |
Value of collateral | 247,913 | 242,060 | ||
Bank | Investment grade | AAA to BBB | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 222,598 | 215,635 | ||
Value of collateral | 197,038 | 192,617 | ||
Bank | Non-investment grade | BB to C | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 63,889 | 61,287 | ||
Value of collateral | 49,464 | 47,999 | ||
Bank | Non-investment grade | D | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 1,947 | 2,094 | ||
Value of collateral | 1,411 | 1,444 | ||
Bank | Corporate and institutional | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 130,258 | 125,255 | 123,228 | |
Bank | Corporate and institutional | Investment grade | AAA to BBB | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 80,547 | 77,485 | ||
Bank | Corporate and institutional | Non-investment grade | BB to C | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 48,363 | 46,318 | ||
Bank | Corporate and institutional | Non-investment grade | D | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 1,348 | 1,452 | ||
Bank | Corporate and institutional | Real estate | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 26,937 | 26,065 | ||
Bank | Corporate and institutional | Real estate | Investment grade | AAA to BBB | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 19,909 | 19,461 | ||
Bank | Corporate and institutional | Real estate | Non-investment grade | BB to C | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 6,898 | 6,494 | ||
Bank | Corporate and institutional | Real estate | Non-investment grade | D | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 130 | 110 | ||
Bank | Corporate and institutional | Commercial and industrial loans | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 83,096 | 80,241 | ||
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 | 42,665 | 41,352 | ||
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 | 39,300 | 37,633 | ||
Bank | Corporate and institutional | Commercial and industrial loans | Non-investment grade | D | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 1,131 | 1,256 | ||
Bank | Corporate and institutional | Financial institutions | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 18,941 | 17,764 | ||
Bank | Corporate and institutional | Financial institutions | Investment grade | AAA to BBB | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 16,729 | 15,540 | ||
Bank | Corporate and institutional | Financial institutions | Non-investment grade | BB to C | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 2,125 | 2,138 | ||
Bank | Corporate and institutional | Financial institutions | Non-investment grade | D | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 87 | 86 | ||
Bank | Corporate and institutional | Governments and public institutions | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 1,284 | 1,185 | ||
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 | 1,244 | 1,132 | ||
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 | 40 | 53 | ||
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 | 0 | ||
Bank | Consumer | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 158,176 | 153,761 | SFr 155,258 | |
Bank | Consumer | Investment grade | AAA to BBB | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 142,051 | 138,150 | ||
Bank | Consumer | Non-investment grade | BB to C | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 15,526 | 14,969 | ||
Bank | Consumer | Non-investment grade | D | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 599 | 642 | ||
Bank | Consumer | Mortgages | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 108,919 | 107,845 | ||
Bank | Consumer | Mortgages | Investment grade | AAA to BBB | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 98,707 | 97,404 | ||
Bank | Consumer | Mortgages | Non-investment grade | BB to C | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 9,844 | 10,046 | ||
Bank | Consumer | Mortgages | Non-investment grade | D | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 368 | 395 | ||
Bank | Consumer | Loans collateralized by securities | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 44,317 | 42,034 | ||
Bank | Consumer | Loans collateralized by securities | Investment grade | AAA to BBB | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 41,092 | 39,281 | ||
Bank | Consumer | Loans collateralized by securities | Non-investment grade | BB to C | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 3,164 | 2,676 | ||
Bank | Consumer | Loans collateralized by securities | Non-investment grade | D | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 61 | 77 | ||
Bank | Consumer | Consumer finance | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 4,940 | 3,882 | ||
Bank | Consumer | Consumer finance | Investment grade | AAA to BBB | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 2,252 | 1,465 | ||
Bank | Consumer | Consumer finance | Non-investment grade | BB to C | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | 2,518 | 2,247 | ||
Bank | Consumer | Consumer finance | Non-investment grade | D | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Gross loans held at amortized cost | SFr 170 | SFr 170 |
Loans, allowance for loan los_6
Loans, allowance for loan losses and credit quality - Aging analysis (Details 4) - CHF (SFr) SFr in Millions | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Jun. 30, 2018 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, current | SFr 278,760 | SFr 270,976 | ||
Gross loans held at amortized cost, past due | 3,191 | 2,747 | ||
Gross loans held at amortized cost | 281,951 | SFr 278,744 | 273,723 | SFr 272,969 |
Past due up to 30 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 1,440 | 982 | ||
Past due 31 - 60 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 193 | 177 | ||
Past due 61 - 90 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 195 | 127 | ||
Past due more than 90 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 1,363 | 1,461 | ||
Corporate and institutional | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, current | 121,909 | 118,293 | ||
Gross loans held at amortized cost, past due | 1,866 | 1,669 | ||
Gross loans held at amortized cost | 123,775 | 122,405 | 119,962 | 117,711 |
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 | 823 | 520 | ||
Corporate and institutional | Past due 31 - 60 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 66 | 119 | ||
Corporate and institutional | Past due 61 - 90 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 109 | 85 | ||
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 | 868 | 945 | ||
Corporate and institutional | Real estate | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, current | 26,633 | 25,914 | ||
Gross loans held at amortized cost, past due | 304 | 151 | ||
Gross loans held at amortized cost | 26,937 | 26,065 | ||
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 | 133 | 63 | ||
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 | 40 | 4 | ||
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 | 66 | 0 | ||
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 | 84 | ||
Corporate and institutional | Commercial and industrial loans | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, current | 81,413 | 78,439 | ||
Gross loans held at amortized cost, past due | 1,140 | 1,334 | ||
Gross loans held at amortized cost | 82,553 | 79,773 | ||
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 | 360 | 378 | ||
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 | 24 | 96 | ||
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 | 39 | 82 | ||
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 | 717 | 778 | ||
Corporate and institutional | Financial institutions | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, current | 12,646 | 12,768 | ||
Gross loans held at amortized cost, past due | 355 | 171 | ||
Gross loans held at amortized cost | 13,001 | 12,939 | ||
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 | 264 | 66 | ||
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 | 1 | 19 | ||
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 | 3 | ||
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 | 86 | 83 | ||
Corporate and institutional | Governments and public institutions | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, current | 1,217 | 1,172 | ||
Gross loans held at amortized cost, past due | 67 | 13 | ||
Gross loans held at amortized cost | 1,284 | 1,185 | ||
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 | 66 | 13 | ||
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 | 1 | 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 | 0 | ||
Consumer | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, current | 156,851 | 152,683 | ||
Gross loans held at amortized cost, past due | 1,325 | 1,078 | ||
Gross loans held at amortized cost | 158,176 | SFr 156,339 | 153,761 | 155,258 |
Consumer | Past due up to 30 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 617 | 462 | ||
Consumer | Past due 31 - 60 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 127 | 58 | ||
Consumer | Past due 61 - 90 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 86 | 42 | ||
Consumer | Past due more than 90 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 495 | 516 | ||
Consumer | Mortgages | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, current | 108,394 | 107,364 | ||
Gross loans held at amortized cost, past due | 525 | 481 | ||
Gross loans held at amortized cost | 108,919 | 107,845 | ||
Consumer | Mortgages | Past due up to 30 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 141 | 155 | ||
Consumer | Mortgages | Past due 31 - 60 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 80 | 23 | ||
Consumer | Mortgages | Past due 61 - 90 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 36 | 10 | ||
Consumer | Mortgages | Past due more than 90 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 268 | 293 | ||
Consumer | Loans collateralized by securities | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, current | 44,231 | 41,936 | ||
Gross loans held at amortized cost, past due | 86 | 98 | ||
Gross loans held at amortized cost | 44,317 | 42,034 | ||
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 | 13 | 21 | ||
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 | 0 | 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 | 73 | 77 | ||
Consumer | Consumer finance | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, current | 4,226 | 3,383 | ||
Gross loans held at amortized cost, past due | 714 | 499 | ||
Gross loans held at amortized cost | 4,940 | 3,882 | ||
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 | 463 | 286 | ||
Consumer | Consumer finance | Past due 31 - 60 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 47 | 35 | ||
Consumer | Consumer finance | Past due 61 - 90 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 50 | 32 | ||
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 | 154 | 146 | ||
Bank | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, current | 285,255 | 276,281 | ||
Gross loans held at amortized cost, past due | 3,179 | 2,735 | ||
Gross loans held at amortized cost | 288,434 | 279,016 | 278,486 | |
Bank | Past due up to 30 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 1,440 | 982 | ||
Bank | Past due 31 - 60 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 193 | 177 | ||
Bank | Past due 61 - 90 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 195 | 127 | ||
Bank | Past due more than 90 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 1,351 | 1,449 | ||
Bank | Corporate and institutional | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, current | 128,404 | 123,598 | ||
Gross loans held at amortized cost, past due | 1,854 | 1,657 | ||
Gross loans held at amortized cost | 130,258 | 125,255 | 123,228 | |
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 | 823 | 520 | ||
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 | 66 | 119 | ||
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 | 109 | 85 | ||
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 | 856 | 933 | ||
Bank | Corporate and institutional | Real estate | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, current | 26,633 | 25,914 | ||
Gross loans held at amortized cost, past due | 304 | 151 | ||
Gross loans held at amortized cost | 26,937 | 26,065 | ||
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 | 133 | 63 | ||
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 | 40 | 4 | ||
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 | 66 | 0 | ||
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 | 84 | ||
Bank | Corporate and institutional | Commercial and industrial loans | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, current | 81,968 | 78,919 | ||
Gross loans held at amortized cost, past due | 1,128 | 1,322 | ||
Gross loans held at amortized cost | 83,096 | 80,241 | ||
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 | 360 | 378 | ||
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 | 24 | 96 | ||
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 | 39 | 82 | ||
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 | 705 | 766 | ||
Bank | Corporate and institutional | Financial institutions | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, current | 18,586 | 17,593 | ||
Gross loans held at amortized cost, past due | 355 | 171 | ||
Gross loans held at amortized cost | 18,941 | 17,764 | ||
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 | 264 | 66 | ||
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 | 1 | 19 | ||
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 | 3 | ||
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 | 86 | 83 | ||
Bank | Corporate and institutional | Governments and public institutions | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, current | 1,217 | 1,172 | ||
Gross loans held at amortized cost, past due | 67 | 13 | ||
Gross loans held at amortized cost | 1,284 | 1,185 | ||
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 | 66 | 13 | ||
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 | 1 | 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 | 0 | ||
Bank | Consumer | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, current | 156,851 | 152,683 | ||
Gross loans held at amortized cost, past due | 1,325 | 1,078 | ||
Gross loans held at amortized cost | 158,176 | 153,761 | SFr 155,258 | |
Bank | Consumer | Past due up to 30 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 617 | 462 | ||
Bank | Consumer | Past due 31 - 60 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 127 | 58 | ||
Bank | Consumer | Past due 61 - 90 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 86 | 42 | ||
Bank | Consumer | Past due more than 90 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 495 | 516 | ||
Bank | Consumer | Mortgages | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, current | 108,394 | 107,364 | ||
Gross loans held at amortized cost, past due | 525 | 481 | ||
Gross loans held at amortized cost | 108,919 | 107,845 | ||
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 | 141 | 155 | ||
Bank | Consumer | Mortgages | Past due 31 - 60 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 80 | 23 | ||
Bank | Consumer | Mortgages | Past due 61 - 90 days | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, past due | 36 | 10 | ||
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 | 268 | 293 | ||
Bank | Consumer | Loans collateralized by securities | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, current | 44,231 | 41,936 | ||
Gross loans held at amortized cost, past due | 86 | 98 | ||
Gross loans held at amortized cost | 44,317 | 42,034 | ||
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 | 13 | 21 | ||
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 | 0 | 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 | 73 | 77 | ||
Bank | Consumer | Consumer finance | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Gross loans held at amortized cost, current | 4,226 | 3,383 | ||
Gross loans held at amortized cost, past due | 714 | 499 | ||
Gross loans held at amortized cost | 4,940 | 3,882 | ||
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 | 463 | 286 | ||
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 | 47 | 35 | ||
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 | 50 | 32 | ||
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 154 | SFr 146 |
Loans, allowance for loan los_7
Loans, allowance for loan losses and credit quality - Impaired loans (Details 5) - CHF (SFr) SFr in Millions | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 |
Gross impaired loans by category | |||
Total non-performing and non-interest-earning loans | SFr 1,493 | SFr 1,556 | SFr 1,503 |
Restructured loans | 274 | 282 | 299 |
Potential problem loans | 268 | 310 | 390 |
Total other impaired loans | 542 | 592 | 689 |
Gross impaired loans | 2,035 | 2,148 | 2,192 |
Non-interest-earning loans | 310 | 324 | 300 |
Non-performing loans | 1,183 | SFr 1,232 | 1,203 |
Consumer mortgages secured by residential real estate for which formal foreclosure proceedings according to local requirements of the applicable jurisdiction were in process | 136 | 123 | |
Corporate and institutional | |||
Gross impaired loans by category | |||
Total non-performing and non-interest-earning loans | 910 | 936 | |
Restructured loans | 248 | 265 | |
Potential problem loans | 229 | 314 | |
Total other impaired loans | 477 | 579 | |
Gross impaired loans | 1,387 | 1,515 | |
Non-interest-earning loans | 277 | 269 | |
Non-performing loans | 633 | 667 | |
Corporate and institutional | Real estate | |||
Gross impaired loans by category | |||
Total non-performing and non-interest-earning loans | 90 | 84 | |
Restructured loans | 0 | 0 | |
Potential problem loans | 44 | 38 | |
Total other impaired loans | 44 | 38 | |
Gross impaired loans | 134 | 122 | |
Non-interest-earning loans | 4 | 4 | |
Non-performing loans | 86 | 80 | |
Corporate and institutional | Commercial and industrial loans | |||
Gross impaired loans by category | |||
Total non-performing and non-interest-earning loans | 734 | 770 | |
Restructured loans | 248 | 265 | |
Potential problem loans | 183 | 272 | |
Total other impaired loans | 431 | 537 | |
Gross impaired loans | 1,165 | 1,307 | |
Non-interest-earning loans | 231 | 223 | |
Non-performing loans | 503 | 547 | |
Corporate and institutional | Financial institutions | |||
Gross impaired loans by category | |||
Total non-performing and non-interest-earning loans | 86 | 82 | |
Restructured loans | 0 | 0 | |
Potential problem loans | 2 | 4 | |
Total other impaired loans | 2 | 4 | |
Gross impaired loans | 88 | 86 | |
Non-interest-earning loans | 42 | 42 | |
Non-performing loans | 44 | 40 | |
Consumer | |||
Gross impaired loans by category | |||
Total non-performing and non-interest-earning loans | 583 | 567 | |
Restructured loans | 26 | 34 | |
Potential problem loans | 39 | 76 | |
Total other impaired loans | 65 | 110 | |
Gross impaired loans | 648 | 677 | |
Non-interest-earning loans | 33 | 31 | |
Non-performing loans | 550 | 536 | |
Consumer | Mortgages | |||
Gross impaired loans by category | |||
Total non-performing and non-interest-earning loans | 332 | 316 | |
Restructured loans | 26 | 34 | |
Potential problem loans | 38 | 72 | |
Total other impaired loans | 64 | 106 | |
Gross impaired loans | 396 | 422 | |
Non-interest-earning loans | 14 | 12 | |
Non-performing loans | 318 | 304 | |
Consumer | Loans collateralized by securities | |||
Gross impaired loans by category | |||
Total non-performing and non-interest-earning loans | 74 | 75 | |
Restructured loans | 0 | 0 | |
Potential problem loans | 0 | 3 | |
Total other impaired loans | 0 | 3 | |
Gross impaired loans | 74 | 78 | |
Non-interest-earning loans | 13 | 13 | |
Non-performing loans | 61 | 62 | |
Consumer | Consumer finance | |||
Gross impaired loans by category | |||
Total non-performing and non-interest-earning loans | 177 | 176 | |
Restructured loans | 0 | 0 | |
Potential problem loans | 1 | 1 | |
Total other impaired loans | 1 | 1 | |
Gross impaired loans | 178 | 177 | |
Non-interest-earning loans | 6 | 6 | |
Non-performing loans | 171 | 170 | |
Bank | |||
Gross impaired loans by category | |||
Total non-performing and non-interest-earning loans | 1,481 | 1,491 | |
Restructured loans | 274 | 299 | |
Potential problem loans | 268 | 390 | |
Total other impaired loans | 542 | 689 | |
Gross impaired loans | 2,023 | 2,180 | |
Non-interest-earning loans | 298 | 288 | |
Non-performing loans | 1,183 | 1,203 | |
Consumer mortgages secured by residential real estate for which formal foreclosure proceedings according to local requirements of the applicable jurisdiction were in process | 136 | 123 | |
Bank | Corporate and institutional | |||
Gross impaired loans by category | |||
Total non-performing and non-interest-earning loans | 898 | 924 | |
Restructured loans | 248 | 265 | |
Potential problem loans | 229 | 314 | |
Total other impaired loans | 477 | 579 | |
Gross impaired loans | 1,375 | 1,503 | |
Non-interest-earning loans | 265 | 257 | |
Non-performing loans | 633 | 667 | |
Bank | Corporate and institutional | Real estate | |||
Gross impaired loans by category | |||
Total non-performing and non-interest-earning loans | 90 | 84 | |
Restructured loans | 0 | 0 | |
Potential problem loans | 44 | 38 | |
Total other impaired loans | 44 | 38 | |
Gross impaired loans | 134 | 122 | |
Non-interest-earning loans | 4 | 4 | |
Non-performing loans | 86 | 80 | |
Bank | Corporate and institutional | Commercial and industrial loans | |||
Gross impaired loans by category | |||
Total non-performing and non-interest-earning loans | 722 | 758 | |
Restructured loans | 248 | 265 | |
Potential problem loans | 183 | 272 | |
Total other impaired loans | 431 | 537 | |
Gross impaired loans | 1,153 | 1,295 | |
Non-interest-earning loans | 219 | 211 | |
Non-performing loans | 503 | 547 | |
Bank | Corporate and institutional | Financial institutions | |||
Gross impaired loans by category | |||
Total non-performing and non-interest-earning loans | 86 | 82 | |
Restructured loans | 0 | 0 | |
Potential problem loans | 2 | 4 | |
Total other impaired loans | 2 | 4 | |
Gross impaired loans | 88 | 86 | |
Non-interest-earning loans | 42 | 42 | |
Non-performing loans | 44 | 40 | |
Bank | Consumer | |||
Gross impaired loans by category | |||
Total non-performing and non-interest-earning loans | 583 | 567 | |
Restructured loans | 26 | 34 | |
Potential problem loans | 39 | 76 | |
Total other impaired loans | 65 | 110 | |
Gross impaired loans | 648 | 677 | |
Non-interest-earning loans | 33 | 31 | |
Non-performing loans | 550 | 536 | |
Bank | Consumer | Mortgages | |||
Gross impaired loans by category | |||
Total non-performing and non-interest-earning loans | 332 | 316 | |
Restructured loans | 26 | 34 | |
Potential problem loans | 38 | 72 | |
Total other impaired loans | 64 | 106 | |
Gross impaired loans | 396 | 422 | |
Non-interest-earning loans | 14 | 12 | |
Non-performing loans | 318 | 304 | |
Bank | Consumer | Loans collateralized by securities | |||
Gross impaired loans by category | |||
Total non-performing and non-interest-earning loans | 74 | 75 | |
Restructured loans | 0 | 0 | |
Potential problem loans | 0 | 3 | |
Total other impaired loans | 0 | 3 | |
Gross impaired loans | 74 | 78 | |
Non-interest-earning loans | 13 | 13 | |
Non-performing loans | 61 | 62 | |
Bank | Consumer | Consumer finance | |||
Gross impaired loans by category | |||
Total non-performing and non-interest-earning loans | 177 | 176 | |
Restructured loans | 0 | 0 | |
Potential problem loans | 1 | 1 | |
Total other impaired loans | 1 | 1 | |
Gross impaired loans | 178 | 177 | |
Non-interest-earning loans | 6 | 6 | |
Non-performing loans | SFr 171 | SFr 170 |
Loans, allowance for loan los_8
Loans, allowance for loan losses and credit quality - Impaired loans details (Details 6) - CHF (SFr) SFr in Millions | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 |
Recorded investment | |||
Recorded investment, with a specific allowance | SFr 1,522 | SFr 1,470 | |
Recorded investment, without specific allowance | 513 | 722 | |
Gross impaired loans | 2,035 | SFr 2,148 | 2,192 |
Unpaid principal balance | |||
Unpaid principal balance, with a specific allowance | 1,430 | 1,378 | |
Unpaid principal balance, without specific allowance | 513 | 722 | |
Unpaid principal balance | 1,943 | 2,100 | |
Associated specific allowance | 576 | 608 | |
Corporate and institutional | |||
Recorded investment | |||
Recorded investment, with a specific allowance | 960 | 941 | |
Recorded investment, without specific allowance | 427 | 574 | |
Gross impaired loans | 1,387 | 1,515 | |
Unpaid principal balance | |||
Unpaid principal balance, with a specific allowance | 917 | 899 | |
Unpaid principal balance, without specific allowance | 427 | 574 | |
Unpaid principal balance | 1,344 | 1,473 | |
Associated specific allowance | 446 | 462 | |
Corporate and institutional | Real estate | |||
Recorded investment | |||
Recorded investment, with a specific allowance | 87 | 82 | |
Recorded investment, without specific allowance | 47 | 40 | |
Gross impaired loans | 134 | 122 | |
Unpaid principal balance | |||
Unpaid principal balance, with a specific allowance | 79 | 73 | |
Unpaid principal balance, without specific allowance | 47 | 40 | |
Associated specific allowance | 10 | 10 | |
Corporate and institutional | Commercial and industrial loans | |||
Recorded investment | |||
Recorded investment, with a specific allowance | 786 | 773 | |
Recorded investment, without specific allowance | 379 | 534 | |
Gross impaired loans | 1,165 | 1,307 | |
Unpaid principal balance | |||
Unpaid principal balance, with a specific allowance | 756 | 742 | |
Unpaid principal balance, without specific allowance | 379 | 534 | |
Associated specific allowance | 366 | 401 | |
Corporate and institutional | Financial institutions | |||
Recorded investment | |||
Recorded investment, with a specific allowance | 87 | 86 | |
Recorded investment, without specific allowance | 1 | 0 | |
Gross impaired loans | 88 | 86 | |
Unpaid principal balance | |||
Unpaid principal balance, with a specific allowance | 82 | 84 | |
Unpaid principal balance, without specific allowance | 1 | 0 | |
Associated specific allowance | 70 | 51 | |
Consumer | |||
Recorded investment | |||
Recorded investment, with a specific allowance | 562 | 529 | |
Recorded investment, without specific allowance | 86 | 148 | |
Gross impaired loans | 648 | 677 | |
Unpaid principal balance | |||
Unpaid principal balance, with a specific allowance | 513 | 479 | |
Unpaid principal balance, without specific allowance | 86 | 148 | |
Unpaid principal balance | 599 | 627 | |
Associated specific allowance | 130 | 146 | |
Consumer | Mortgages | |||
Recorded investment | |||
Recorded investment, with a specific allowance | 313 | 278 | |
Recorded investment, without specific allowance | 83 | 144 | |
Gross impaired loans | 396 | 422 | |
Unpaid principal balance | |||
Unpaid principal balance, with a specific allowance | 297 | 262 | |
Unpaid principal balance, without specific allowance | 83 | 144 | |
Associated specific allowance | 22 | 21 | |
Consumer | Loans collateralized by securities | |||
Recorded investment | |||
Recorded investment, with a specific allowance | 74 | 77 | |
Recorded investment, without specific allowance | 0 | 1 | |
Gross impaired loans | 74 | 78 | |
Unpaid principal balance | |||
Unpaid principal balance, with a specific allowance | 63 | 63 | |
Unpaid principal balance, without specific allowance | 0 | 1 | |
Associated specific allowance | 18 | 35 | |
Consumer | Consumer finance | |||
Recorded investment | |||
Recorded investment, with a specific allowance | 175 | 174 | |
Recorded investment, without specific allowance | 3 | 3 | |
Gross impaired loans | 178 | 177 | |
Unpaid principal balance | |||
Unpaid principal balance, with a specific allowance | 153 | 154 | |
Unpaid principal balance, without specific allowance | 3 | 3 | |
Associated specific allowance | 90 | 90 | |
Bank | |||
Recorded investment | |||
Recorded investment, with a specific allowance | 1,510 | 1,458 | |
Recorded investment, without specific allowance | 513 | 722 | |
Gross impaired loans | 2,023 | 2,180 | |
Unpaid principal balance | |||
Unpaid principal balance, with a specific allowance | 1,419 | 1,366 | |
Unpaid principal balance, without specific allowance | 513 | 722 | |
Unpaid principal balance | 1,932 | 2,088 | |
Associated specific allowance | 575 | 607 | |
Bank | Corporate and institutional | |||
Recorded investment | |||
Recorded investment, with a specific allowance | 948 | 929 | |
Recorded investment, without specific allowance | 427 | 574 | |
Gross impaired loans | 1,375 | 1,503 | |
Unpaid principal balance | |||
Unpaid principal balance, with a specific allowance | 906 | 887 | |
Unpaid principal balance, without specific allowance | 427 | 574 | |
Unpaid principal balance | 1,333 | 1,461 | |
Associated specific allowance | 445 | 461 | |
Bank | Corporate and institutional | Real estate | |||
Recorded investment | |||
Recorded investment, with a specific allowance | 87 | 82 | |
Recorded investment, without specific allowance | 47 | 40 | |
Gross impaired loans | 134 | 122 | |
Unpaid principal balance | |||
Unpaid principal balance, with a specific allowance | 79 | 73 | |
Unpaid principal balance, without specific allowance | 47 | 40 | |
Associated specific allowance | 10 | 10 | |
Bank | Corporate and institutional | Commercial and industrial loans | |||
Recorded investment | |||
Recorded investment, with a specific allowance | 774 | 761 | |
Recorded investment, without specific allowance | 379 | 534 | |
Gross impaired loans | 1,153 | 1,295 | |
Unpaid principal balance | |||
Unpaid principal balance, with a specific allowance | 745 | 730 | |
Unpaid principal balance, without specific allowance | 379 | 534 | |
Associated specific allowance | 365 | 400 | |
Bank | Corporate and institutional | Financial institutions | |||
Recorded investment | |||
Recorded investment, with a specific allowance | 87 | 86 | |
Recorded investment, without specific allowance | 1 | 0 | |
Gross impaired loans | 88 | 86 | |
Unpaid principal balance | |||
Unpaid principal balance, with a specific allowance | 82 | 84 | |
Unpaid principal balance, without specific allowance | 1 | 0 | |
Associated specific allowance | 70 | 51 | |
Bank | Consumer | |||
Recorded investment | |||
Recorded investment, with a specific allowance | 562 | 529 | |
Recorded investment, without specific allowance | 86 | 148 | |
Gross impaired loans | 648 | 677 | |
Unpaid principal balance | |||
Unpaid principal balance, with a specific allowance | 513 | 479 | |
Unpaid principal balance, without specific allowance | 86 | 148 | |
Unpaid principal balance | 599 | 627 | |
Associated specific allowance | 130 | 146 | |
Bank | Consumer | Mortgages | |||
Recorded investment | |||
Recorded investment, with a specific allowance | 313 | 278 | |
Recorded investment, without specific allowance | 83 | 144 | |
Gross impaired loans | 396 | 422 | |
Unpaid principal balance | |||
Unpaid principal balance, with a specific allowance | 297 | 262 | |
Unpaid principal balance, without specific allowance | 83 | 144 | |
Associated specific allowance | 22 | 21 | |
Bank | Consumer | Loans collateralized by securities | |||
Recorded investment | |||
Recorded investment, with a specific allowance | 74 | 77 | |
Recorded investment, without specific allowance | 0 | 1 | |
Gross impaired loans | 74 | 78 | |
Unpaid principal balance | |||
Unpaid principal balance, with a specific allowance | 63 | 63 | |
Unpaid principal balance, without specific allowance | 0 | 1 | |
Associated specific allowance | 18 | 35 | |
Bank | Consumer | Consumer finance | |||
Recorded investment | |||
Recorded investment, with a specific allowance | 175 | 174 | |
Recorded investment, without specific allowance | 3 | 3 | |
Gross impaired loans | 178 | 177 | |
Unpaid principal balance | |||
Unpaid principal balance, with a specific allowance | 153 | 154 | |
Unpaid principal balance, without specific allowance | 3 | 3 | |
Associated specific allowance | SFr 90 | SFr 90 |
Loans, allowance for loan los_9
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, 2019 | Mar. 31, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Average recorded investment | |||||
Average recorded investment, with a specific allowance | SFr 1,503 | SFr 1,507 | SFr 1,631 | SFr 1,501 | SFr 1,603 |
Average recorded investment, without specific allowance | 571 | 677 | 391 | 621 | 403 |
Average recorded investment | 2,074 | 2,184 | 2,022 | 2,122 | 2,006 |
Interest income recognized | |||||
Interest income recognized, with a specific allowance | 7 | 6 | 4 | 13 | 12 |
Interest income recognized, without specific allowance | 3 | 4 | 4 | 7 | 8 |
Interest income recognized | 10 | 10 | 8 | 20 | 20 |
Interest income recognized on a cash basis | |||||
Interest income recognized on a cash basis, with a specific allowance | 2 | 1 | 1 | 3 | 6 |
Interest income recognized on a cash basis, without specific allowance | 0 | 1 | 0 | 1 | 0 |
Interest income recognized on a cash basis | 2 | 2 | 1 | 4 | 6 |
Corporate and institutional | |||||
Average recorded investment | |||||
Average recorded investment, with a specific allowance | 1,003 | 988 | 1,090 | 994 | 1,065 |
Average recorded investment, without specific allowance | 429 | 522 | 280 | 474 | 303 |
Average recorded investment | 1,432 | 1,510 | 1,370 | 1,468 | 1,368 |
Interest income recognized | |||||
Interest income recognized, with a specific allowance | 6 | 5 | 2 | 11 | 9 |
Interest income recognized, without specific allowance | 2 | 3 | 3 | 5 | 6 |
Interest income recognized | 8 | 8 | 5 | 16 | 15 |
Interest income recognized on a cash basis | |||||
Interest income recognized on a cash basis, with a specific allowance | 1 | 1 | 0 | 2 | 4 |
Interest income recognized on a cash basis, without specific allowance | 0 | 1 | 0 | 1 | 0 |
Interest income recognized on a cash basis | 1 | 2 | 0 | 3 | 4 |
Corporate and institutional | Real estate | |||||
Average recorded investment | |||||
Average recorded investment, with a specific allowance | 75 | 67 | 94 | 71 | 90 |
Average recorded investment, without specific allowance | 43 | 42 | 3 | 42 | 3 |
Interest income recognized | |||||
Interest income recognized, with a specific allowance | 1 | 0 | 0 | 1 | 0 |
Interest income recognized, without specific allowance | 0 | 0 | 1 | 0 | 1 |
Interest income recognized on a cash basis | |||||
Interest income recognized on a cash basis, with a specific allowance | 1 | 0 | 0 | 1 | 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 | 834 | 833 | 949 | 832 | 928 |
Average recorded investment, without specific allowance | 377 | 472 | 277 | 424 | 300 |
Interest income recognized | |||||
Interest income recognized, with a specific allowance | 5 | 4 | 2 | 9 | 9 |
Interest income recognized, without specific allowance | 2 | 3 | 2 | 5 | 5 |
Interest income recognized on a cash basis | |||||
Interest income recognized on a cash basis, with a specific allowance | 0 | 1 | 0 | 1 | 4 |
Interest income recognized on a cash basis, without specific allowance | 0 | 1 | 0 | 1 | 0 |
Corporate and institutional | Financial institutions | |||||
Average recorded investment | |||||
Average recorded investment, with a specific allowance | 94 | 88 | 47 | 91 | 46 |
Average recorded investment, without specific allowance | 9 | 8 | 0 | 8 | 0 |
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 | 0 | 0 | 0 | 0 |
Interest income recognized on a cash basis, without 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 | |||
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 | |||
Consumer | |||||
Average recorded investment | |||||
Average recorded investment, with a specific allowance | 500 | 519 | 541 | 507 | 538 |
Average recorded investment, without specific allowance | 142 | 155 | 111 | 147 | 100 |
Average recorded investment | 642 | 674 | 652 | 654 | 638 |
Interest income recognized | |||||
Interest income recognized, with a specific allowance | 1 | 1 | 2 | 2 | 3 |
Interest income recognized, without specific allowance | 1 | 1 | 1 | 2 | 2 |
Interest income recognized | 2 | 2 | 3 | 4 | 5 |
Interest income recognized on a cash basis | |||||
Interest income recognized on a cash basis, with a specific allowance | 1 | 0 | 1 | 1 | 2 |
Interest income recognized on a cash basis, without specific allowance | 0 | 0 | 0 | 0 | 0 |
Interest income recognized on a cash basis | 1 | 0 | 1 | 1 | 2 |
Consumer | Mortgages | |||||
Average recorded investment | |||||
Average recorded investment, with a specific allowance | 259 | 272 | 266 | 264 | 260 |
Average recorded investment, without specific allowance | 138 | 152 | 109 | 143 | 97 |
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 | 1 | 0 | 0 | 1 | 0 |
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 | 68 | 73 | 98 | 70 | 101 |
Interest income recognized | |||||
Interest income recognized, with a specific allowance | 0 | 0 | 0 | 0 | 1 |
Interest income recognized on a cash basis | |||||
Interest income recognized on a cash basis, with a specific allowance | 0 | 0 | 0 | 0 | 1 |
Consumer | Consumer finance | |||||
Average recorded investment | |||||
Average recorded investment, with a specific allowance | 173 | 174 | 177 | 173 | 177 |
Average recorded investment, without specific allowance | 4 | 3 | 2 | 4 | 3 |
Interest income recognized | |||||
Interest income recognized, with a specific allowance | 0 | 1 | 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 | 0 | 0 | 1 | 0 | 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 | 1,489 | 1,590 | |||
Average recorded investment, without specific allowance | 621 | 403 | |||
Average recorded investment | 2,110 | 1,993 | |||
Interest income recognized | |||||
Interest income recognized, with a specific allowance | 13 | 12 | |||
Interest income recognized, without specific allowance | 7 | 8 | |||
Interest income recognized | 20 | 20 | |||
Interest income recognized on a cash basis | |||||
Interest income recognized on a cash basis, with a specific allowance | 3 | 6 | |||
Interest income recognized on a cash basis, without specific allowance | 1 | 0 | |||
Interest income recognized on a cash basis | 4 | 6 | |||
Bank | Corporate and institutional | |||||
Average recorded investment | |||||
Average recorded investment, with a specific allowance | 982 | 1,052 | |||
Average recorded investment, without specific allowance | 474 | 303 | |||
Average recorded investment | 1,456 | 1,355 | |||
Interest income recognized | |||||
Interest income recognized, with a specific allowance | 11 | 9 | |||
Interest income recognized, without specific allowance | 5 | 6 | |||
Interest income recognized | 16 | 15 | |||
Interest income recognized on a cash basis | |||||
Interest income recognized on a cash basis, with a specific allowance | 2 | 4 | |||
Interest income recognized on a cash basis, without specific allowance | 1 | 0 | |||
Interest income recognized on a cash basis | 3 | 4 | |||
Bank | Corporate and institutional | Real estate | |||||
Average recorded investment | |||||
Average recorded investment, with a specific allowance | 71 | 90 | |||
Average recorded investment, without specific allowance | 42 | 3 | |||
Interest income recognized | |||||
Interest income recognized, with a specific allowance | 1 | 0 | |||
Interest income recognized, without specific allowance | 0 | 1 | |||
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 | Corporate and institutional | Commercial and industrial loans | |||||
Average recorded investment | |||||
Average recorded investment, with a specific allowance | 820 | 915 | |||
Average recorded investment, without specific allowance | 424 | 300 | |||
Interest income recognized | |||||
Interest income recognized, with a specific allowance | 9 | 9 | |||
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 | 1 | 4 | |||
Interest income recognized on a cash basis, without specific allowance | 1 | 0 | |||
Bank | Corporate and institutional | Financial institutions | |||||
Average recorded investment | |||||
Average recorded investment, with a specific allowance | 91 | 46 | |||
Average recorded investment, without specific allowance | 8 | 0 | |||
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 | 0 | 0 | |||
Interest income recognized on a cash basis, without specific allowance | 0 | 0 | |||
Bank | Corporate and institutional | Governments and public institutions | |||||
Average recorded investment | |||||
Average recorded investment, with a specific allowance | 0 | 1 | |||
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 | 507 | 538 | |||
Average recorded investment, without specific allowance | 147 | 100 | |||
Average recorded investment | 654 | 638 | |||
Interest income recognized | |||||
Interest income recognized, with a specific allowance | 2 | 3 | |||
Interest income recognized, without specific allowance | 2 | 2 | |||
Interest income recognized | 4 | 5 | |||
Interest income recognized on a cash basis | |||||
Interest income recognized on a cash basis, with a specific allowance | 1 | 2 | |||
Interest income recognized on a cash basis, without specific allowance | 0 | 0 | |||
Interest income recognized on a cash basis | 1 | 2 | |||
Bank | Consumer | Mortgages | |||||
Average recorded investment | |||||
Average recorded investment, with a specific allowance | 264 | 260 | |||
Average recorded investment, without specific allowance | 143 | 97 | |||
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 | 1 | 0 | |||
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 | 70 | 101 | |||
Interest income recognized | |||||
Interest income recognized, with a specific allowance | 0 | 1 | |||
Interest income recognized on a cash basis | |||||
Interest income recognized on a cash basis, with a specific allowance | 0 | 1 | |||
Bank | Consumer | Consumer finance | |||||
Average recorded investment | |||||
Average recorded investment, with a specific allowance | 173 | 177 | |||
Average recorded investment, without specific allowance | 4 | 3 | |||
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 | 0 | 1 | |||
Interest income recognized on a cash basis, without specific allowance | SFr 0 | SFr 0 |
Loans, allowance for loan lo_10
Loans, allowance for loan losses and credit quality - Restructured loans (Details 8) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019CHF (SFr)contract | Mar. 31, 2019CHF (SFr)contract | Jun. 30, 2018CHF (SFr)contract | Jun. 30, 2019CHF (SFr)contract | Jun. 30, 2018CHF (SFr)contract | |
Restructured loans | |||||
Restructured loans, Modifications, Number of contracts | contract | 6 | 1 | 5 | 7 | 8 |
Restructured loans, Modifications, Pre-Modification Recorded Investment | SFr 14 | SFr 7 | SFr 29 | SFr 21 | SFr 44 |
Restructured loans, Modifications, Post-Modification Recorded Investment | SFr 14 | SFr 7 | SFr 29 | SFr 21 | SFr 43 |
Restructured loans, subsequently defaulted, Number of contracts | contract | 0 | 1 | 1 | 1 | 8 |
Restructured loans, subsequently defaulted, Recorded Investment | SFr 0 | SFr 13 | SFr 36 | SFr 13 | SFr 76 |
Consumer | Mortgages | |||||
Restructured loans | |||||
Restructured loans, Modifications, Number of contracts | contract | 0 | 1 | 5 | 1 | 5 |
Restructured loans, Modifications, Pre-Modification Recorded Investment | SFr 0 | SFr 7 | SFr 29 | SFr 7 | SFr 29 |
Restructured loans, Modifications, Post-Modification Recorded Investment | SFr 0 | SFr 7 | SFr 29 | SFr 7 | SFr 29 |
Restructured loans, subsequently defaulted, Number of contracts | contract | 0 | 1 | 0 | 1 | 0 |
Restructured loans, subsequently defaulted, Recorded Investment | SFr 0 | SFr 13 | SFr 0 | SFr 13 | SFr 0 |
Corporate and institutional | Commercial and industrial loans | |||||
Restructured loans | |||||
Restructured loans, Modifications, Number of contracts | contract | 6 | 0 | 0 | 6 | 3 |
Restructured loans, Modifications, Pre-Modification Recorded Investment | SFr 14 | SFr 0 | SFr 0 | SFr 14 | SFr 15 |
Restructured loans, Modifications, Post-Modification Recorded Investment | SFr 14 | SFr 0 | SFr 0 | SFr 14 | SFr 14 |
Restructured loans, subsequently defaulted, Number of contracts | contract | 0 | 0 | 1 | 0 | 8 |
Restructured loans, subsequently defaulted, Recorded Investment | SFr 0 | SFr 0 | SFr 36 | SFr 0 | SFr 76 |
Bank | |||||
Restructured loans | |||||
Restructured loans, Modifications, Number of contracts | contract | 7 | 8 | |||
Restructured loans, Modifications, Pre-Modification Recorded Investment | SFr 21 | SFr 44 | |||
Restructured loans, Modifications, Post-Modification Recorded Investment | SFr 21 | SFr 43 | |||
Restructured loans, subsequently defaulted, Number of contracts | contract | 1 | 8 | |||
Restructured loans, subsequently defaulted, Recorded Investment | SFr 13 | SFr 76 | |||
Bank | Consumer | Mortgages | |||||
Restructured loans | |||||
Restructured loans, Modifications, Number of contracts | contract | 1 | 5 | |||
Restructured loans, Modifications, Pre-Modification Recorded Investment | SFr 7 | SFr 29 | |||
Restructured loans, Modifications, Post-Modification Recorded Investment | SFr 7 | SFr 29 | |||
Restructured loans, subsequently defaulted, Number of contracts | contract | 1 | 0 | |||
Restructured loans, subsequently defaulted, Recorded Investment | SFr 13 | SFr 0 | |||
Bank | Corporate and institutional | Commercial and industrial loans | |||||
Restructured loans | |||||
Restructured loans, Modifications, Number of contracts | contract | 6 | 3 | |||
Restructured loans, Modifications, Pre-Modification Recorded Investment | SFr 14 | SFr 15 | |||
Restructured loans, Modifications, Post-Modification Recorded Investment | SFr 14 | SFr 14 | |||
Restructured loans, subsequently defaulted, Number of contracts | contract | 0 | 8 | |||
Restructured loans, subsequently defaulted, Recorded Investment | SFr 0 | SFr 76 |
Goodwill (Details)
Goodwill (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | |
Gross amount of goodwill | ||||
Balance at beginning of period | SFr 8,698 | SFr 8,657 | ||
Foreign currency translation impact | (76) | (35) | ||
Balance at end of period | 8,622 | 8,622 | ||
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 | 4,731 | 4,731 | SFr 4,807 | SFr 4,766 |
Operating Segments | Swiss Universal Bank | ||||
Gross amount of goodwill | ||||
Balance at beginning of period | 619 | 615 | ||
Foreign currency translation impact | (7) | (3) | ||
Balance at end of period | 612 | 612 | ||
Accumulated impairment | ||||
Balance at beginning of period | 0 | 0 | ||
Balance at end of period | 0 | 0 | ||
Net book value | ||||
Net book value | 612 | 612 | ||
Operating Segments | International Wealth Management | ||||
Gross amount of goodwill | ||||
Balance at beginning of period | 1,560 | 1,544 | ||
Foreign currency translation impact | (30) | (14) | ||
Balance at end of period | 1,530 | 1,530 | ||
Accumulated impairment | ||||
Balance at beginning of period | 0 | 0 | ||
Balance at end of period | 0 | 0 | ||
Net book value | ||||
Net book value | 1,530 | 1,530 | ||
Operating Segments | Asia Pacific | ||||
Gross amount of goodwill | ||||
Balance at beginning of period | 2,290 | 2,278 | ||
Foreign currency translation impact | (22) | (10) | ||
Balance at end of period | 2,268 | 2,268 | ||
Accumulated impairment | ||||
Balance at beginning of period | 772 | 772 | ||
Balance at end of period | 772 | 772 | ||
Net book value | ||||
Net book value | 1,496 | 1,496 | ||
Operating Segments | Global Markets | ||||
Gross amount of goodwill | ||||
Balance at beginning of period | 3,186 | 3,182 | ||
Foreign currency translation impact | (7) | (3) | ||
Balance at end of period | 3,179 | 3,179 | ||
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 | 460 | 460 | ||
Operating Segments | Investment Banking & Capital Markets | ||||
Gross amount of goodwill | ||||
Balance at beginning of period | 1,031 | 1,026 | ||
Foreign currency translation impact | (10) | (5) | ||
Balance at end of period | 1,021 | 1,021 | ||
Accumulated impairment | ||||
Balance at beginning of period | 388 | 388 | ||
Balance at end of period | 388 | 388 | ||
Net book value | ||||
Net book value | 633 | 633 | ||
Operating Segments | Strategic Resolution Unit | ||||
Gross amount of goodwill | ||||
Balance at beginning of period | 12 | |||
Bank | ||||
Gross amount of goodwill | ||||
Balance at beginning of period | 7,947 | |||
Foreign currency translation impact | (31) | |||
Balance at end of period | 7,916 | 7,916 | ||
Accumulated impairment | ||||
Balance at beginning of period | 3,891 | |||
Balance at end of period | 3,891 | 3,891 | ||
Net book value | ||||
Net book value | 4,025 | 4,025 | SFr 4,056 | |
Bank | Operating Segments | Swiss Universal Bank | ||||
Gross amount of goodwill | ||||
Balance at beginning of period | 597 | |||
Foreign currency translation impact | (3) | |||
Balance at end of period | 594 | 594 | ||
Accumulated impairment | ||||
Balance at beginning of period | 0 | |||
Balance at end of period | 0 | 0 | ||
Net book value | ||||
Net book value | 594 | 594 | ||
Bank | Operating Segments | International Wealth Management | ||||
Gross amount of goodwill | ||||
Balance at beginning of period | 1,531 | |||
Foreign currency translation impact | (13) | |||
Balance at end of period | 1,518 | 1,518 | ||
Accumulated impairment | ||||
Balance at beginning of period | 0 | |||
Balance at end of period | 0 | 0 | ||
Net book value | ||||
Net book value | 1,518 | 1,518 | ||
Bank | Operating Segments | Asia Pacific | ||||
Gross amount of goodwill | ||||
Balance at beginning of period | 2,053 | |||
Foreign currency translation impact | (10) | |||
Balance at end of period | 2,043 | 2,043 | ||
Accumulated impairment | ||||
Balance at beginning of period | 772 | |||
Balance at end of period | 772 | 772 | ||
Net book value | ||||
Net book value | 1,271 | 1,271 | ||
Bank | Operating Segments | Global Markets | ||||
Gross amount of goodwill | ||||
Balance at beginning of period | 2,838 | |||
Foreign currency translation impact | (1) | |||
Balance at end of period | 2,837 | 2,837 | ||
Accumulated impairment | ||||
Balance at beginning of period | 2,719 | |||
Balance at end of period | 2,719 | 2,719 | ||
Net book value | ||||
Net book value | 118 | 118 | ||
Bank | Operating Segments | Investment Banking & Capital Markets | ||||
Gross amount of goodwill | ||||
Balance at beginning of period | 916 | |||
Foreign currency translation impact | (4) | |||
Balance at end of period | 912 | 912 | ||
Accumulated impairment | ||||
Balance at beginning of period | 388 | |||
Balance at end of period | 388 | 388 | ||
Net book value | ||||
Net book value | SFr 524 | 524 | ||
Bank | Operating Segments | Strategic Resolution Unit | ||||
Gross amount of goodwill | ||||
Balance at beginning of period | SFr 12 |
Other assets and other liabil_3
Other assets and other liabilities (Details) - CHF (SFr) SFr in Millions | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | Dec. 31, 2017 |
Other assets | |||||
Cash collateral on derivative instruments | SFr 5,692 | SFr 5,358 | SFr 7,057 | ||
Cash collateral on non-derivative transactions | 414 | 392 | 465 | ||
Derivative instruments used for hedging | 99 | 86 | 33 | ||
Assets held-for-sale | 7,005 | 8,371 | 6,744 | ||
of which loans | 6,929 | 8,285 | 6,630 | ||
of which real estate | 45 | 54 | 54 | ||
of which long-lived assets | 31 | 32 | 60 | ||
Premises, equipment and right-of-use assets | 7,737 | 8,079 | 4,838 | ||
Assets held for separate accounts | 119 | 123 | 125 | ||
Interest and fees receivable | 5,240 | 5,330 | 5,055 | ||
Deferred tax assets | 4,787 | 4,920 | 4,943 | ||
Prepaid expenses | 445 | 485 | 613 | ||
of which cloud computing arrangement implementation costs | 9 | 3 | |||
Failed purchases | 1,271 | 1,400 | 1,283 | ||
Defined benefit pension and post-retirement plan assets | 2,880 | 1,973 | 1,794 | ||
Other | 3,890 | 3,984 | 4,509 | ||
Other assets | 39,579 | 40,501 | 37,459 | ||
Other liabilities | |||||
Cash collateral on derivative instruments | 7,048 | 6,867 | 6,903 | ||
Cash collateral on non-derivative transactions | 120 | 145 | 514 | ||
Derivative instruments used for hedging | 11 | 0 | 8 | ||
Operating Lease, Liability | 3,143 | 3,468 | |||
Provisions | 871 | 1,026 | 928 | ||
of which off-balance sheet risk | 153 | 155 | 151 | ||
Restructuring liabilities | 0 | 346 | SFr 329 | SFr 306 | |
Liabilities held for separate accounts | 119 | 123 | 125 | ||
Interest and fees payable | 5,545 | 5,126 | 5,159 | ||
Current tax liabilities | 1,130 | 926 | 927 | ||
Deferred tax liabilities | 644 | 456 | 438 | ||
Failed sales | 731 | 735 | 2,187 | ||
Defined benefit pension and post-retirement plan liabilities | 510 | 518 | 518 | ||
Other | 10,086 | 10,003 | 12,054 | ||
Other liabilities | 29,958 | 29,393 | 30,107 | ||
Restricted loans, representing collateral on secured borrowings, included in loans held-for-sale | 717 | 705 | 687 | ||
Foreclosed or repossessed real estate | 11 | 13 | 13 | ||
Foreclosed or repossessed residential real estate | 8 | SFr 10 | 10 | ||
Bank | |||||
Other assets | |||||
Cash collateral on derivative instruments | 5,693 | 7,057 | |||
Cash collateral on non-derivative transactions | 414 | 465 | |||
Derivative instruments used for hedging | 99 | 33 | |||
Assets held-for-sale | 7,005 | 6,744 | |||
of which loans | 6,929 | 6,630 | |||
of which real estate | 45 | 54 | |||
of which long-lived assets | 31 | 60 | |||
Premises, equipment and right-of-use assets | 6,586 | 4,530 | |||
Assets held for separate accounts | 119 | 125 | |||
Interest and fees receivable | 5,920 | 5,506 | |||
Deferred tax assets | 4,725 | 4,887 | |||
Prepaid expenses | 373 | 560 | |||
of which cloud computing arrangement implementation costs | 8 | ||||
Failed purchases | 1,271 | 1,283 | |||
Defined benefit pension and post-retirement plan assets | 999 | 1,001 | |||
Other | 3,889 | 4,482 | |||
Other assets | 37,093 | 36,673 | |||
Other liabilities | |||||
Cash collateral on derivative instruments | 7,048 | 6,903 | |||
Cash collateral on non-derivative transactions | 120 | 514 | |||
Derivative instruments used for hedging | 11 | 8 | |||
Operating Lease, Liability | 2,311 | ||||
Provisions | 863 | 920 | |||
of which off-balance sheet risk | 153 | 151 | |||
Restructuring liabilities | 0 | 342 | SFr 324 | SFr 301 | |
Liabilities held for separate accounts | 119 | 125 | |||
Interest and fees payable | 6,138 | 5,521 | |||
Current tax liabilities | 1,120 | 907 | |||
Deferred tax liabilities | 246 | 268 | |||
Failed sales | 731 | 2,187 | |||
Defined benefit pension and post-retirement plan liabilities | 510 | 518 | |||
Other | 10,184 | 12,114 | |||
Other liabilities | 29,401 | 30,327 | |||
Restricted loans, representing collateral on secured borrowings, included in loans held-for-sale | 717 | 687 | |||
Foreclosed or repossessed real estate | 11 | 13 | |||
Foreclosed or repossessed residential real estate | SFr 8 | SFr 10 |
Other assets and other liabil_4
Other assets and other liabilities (Details 2) - CHF (SFr) SFr in Millions | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 |
Premises and equipment | |||
Buildings and improvements | SFr 1,582 | SFr 1,601 | SFr 1,617 |
Land | 335 | 344 | 347 |
Leasehold improvements | 1,852 | 1,910 | 1,880 |
Software | 6,260 | 6,115 | 5,909 |
Equipment | 1,805 | 1,846 | 1,805 |
Premises and equipment | 11,834 | 11,816 | 11,558 |
Accumulated depreciation | (7,056) | (6,948) | (6,720) |
Total premises and equipment, net | 4,778 | 4,868 | 4,838 |
Right-of-use assets [Abstract] | |||
Operating leases | 2,959 | 3,211 | |
Right-of-use assets | 2,959 | 3,211 | |
Premises, equipment and right-of-use assets | 7,737 | SFr 8,079 | 4,838 |
Bank | |||
Premises and equipment | |||
Buildings and improvements | 1,560 | 1,595 | |
Land | 335 | 347 | |
Leasehold improvements | 1,711 | 1,752 | |
Software | 6,022 | 5,715 | |
Equipment | 1,114 | 1,136 | |
Premises and equipment | 10,742 | 10,545 | |
Accumulated depreciation | (6,313) | (6,015) | |
Total premises and equipment, net | 4,429 | 4,530 | |
Right-of-use assets [Abstract] | |||
Operating leases | 2,157 | ||
Right-of-use assets | 2,157 | ||
Premises, equipment and right-of-use assets | SFr 6,586 | SFr 4,530 |
Leases (Details)
Leases (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Mar. 31, 2019 | Jun. 30, 2019 | Dec. 31, 2018 | |
Income and Expenses, Lessee [Abstract] | ||||
Operating lease costs | SFr 94 | SFr 114 | SFr 208 | |
Variable lease costs | 10 | 2 | 12 | |
Sublease income | (18) | (18) | (36) | |
Total lease costs | 86 | 98 | 184 | |
Other information pertaining to leases [Abstract] | ||||
Gains/(losses) on sale and leaseback transactions | 75 | 30 | 105 | |
Cash paid for amounts included in the measurement of operating lease liabilities recorded in operating cash flows | (105) | (141) | (246) | |
Right-of-use assets obtained in exchange of new operating lease liabilities | 56 | 13 | 69 | |
Changes to right-of-use assets due to lease modifications for operating leases | SFr (14) | (1) | SFr (15) | |
Weighted average remaining lease term and discount rate [Abstract] | ||||
Remaining lease term (years) | 12 years 8 months 12 days | 12 years 8 months 12 days | ||
Discount rate | 2.98% | 2.98% | ||
Lessee, Operating Lease, Liability, Payment, Due, Rolling Maturity [Abstract] | ||||
Due within 1 year | SFr 482 | SFr 482 | ||
Due between 1 and 2 years | 419 | 419 | ||
Due between 2 and 3 years | 346 | 346 | ||
Due between 3 and 4 years | 316 | 316 | ||
Due between 4 and 5 years | 281 | 281 | ||
Thereafter | 1,944 | 1,944 | ||
Total | 3,788 | 3,788 | ||
Future interest payable | (645) | (645) | ||
Lease liabilities | SFr 3,143 | SFr 3,468 | 3,143 | |
Operating Leases, Future Minimum Payments Due [Abstract] | ||||
In one year | SFr 503 | |||
In two years | 484 | |||
In three years | 381 | |||
In four years | 354 | |||
In five years | 320 | |||
Thereafter | 2,209 | |||
Future operating lease commitments | 4,251 | |||
Less minimum non-cancellable sublease rentals | 190 | |||
Total net future minimum lease commitments | 4,061 | |||
Sale Leaseback Transaction, Lease Terms | During 2Q19, the Group entered into two sale-leaseback transactions in respect of own property, with terms of 10 and 13 years, respectively. | |||
Bank | ||||
Income and Expenses, Lessee [Abstract] | ||||
Operating lease costs | 174 | |||
Variable lease costs | 11 | |||
Sublease income | (44) | |||
Total lease costs | 141 | |||
Other information pertaining to leases [Abstract] | ||||
Gains/(losses) on sale and leaseback transactions | 105 | |||
Cash paid for amounts included in the measurement of operating lease liabilities recorded in operating cash flows | (212) | |||
Right-of-use assets obtained in exchange of new operating lease liabilities | 68 | |||
Changes to right-of-use assets due to lease modifications for operating leases | SFr (15) | |||
Weighted average remaining lease term and discount rate [Abstract] | ||||
Remaining lease term (years) | 11 years 2 months 4 days | 11 years 2 months 4 days | ||
Discount rate | 3.21% | 3.21% | ||
Lessee, Operating Lease, Liability, Payment, Due, Rolling Maturity [Abstract] | ||||
Due within 1 year | SFr 415 | SFr 415 | ||
Due between 1 and 2 years | 353 | 353 | ||
Due between 2 and 3 years | 281 | 281 | ||
Due between 3 and 4 years | 251 | 251 | ||
Due between 4 and 5 years | 221 | 221 | ||
Thereafter | 1,270 | 1,270 | ||
Total | 2,791 | 2,791 | ||
Future interest payable | (480) | (480) | ||
Lease liabilities | SFr 2,311 | SFr 2,311 | ||
Operating Leases, Future Minimum Payments Due [Abstract] | ||||
In one year | 435 | |||
In two years | 416 | |||
In three years | 314 | |||
In four years | 286 | |||
In five years | 256 | |||
Thereafter | 1,479 | |||
Future operating lease commitments | 3,186 | |||
Less minimum non-cancellable sublease rentals | 436 | |||
Total net future minimum lease commitments | SFr 2,750 |
Leases (Details 2)
Leases (Details 2) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2019 | Mar. 31, 2019 | Jun. 30, 2019 | |
Lessor Disclosure [Line items] | |||
Residual Value of Leased Asset | SFr 800 | SFr 800 | |
Lease income [Abstract] | |||
Interest income on sales-type lease receivables | 1 | SFr 1 | 2 |
Interest income on direct financing lease receivables | 26 | 27 | 53 |
Lease income from operating leases | 18 | 18 | 36 |
Variable lease income | 2 | 1 | 3 |
Total lease income | 47 | SFr 47 | 94 |
Lessor, Operating Lease, Payments, Rolling Maturity [Abstract] | |||
Due within 1 year | 38 | 38 | |
Due between 1 and 2 years | 28 | 28 | |
Due between 2 and 3 years | 25 | 25 | |
Due between 3 and 4 years | 24 | 24 | |
Due between 4 and 5 years | 23 | 23 | |
Thereafter | 75 | 75 | |
Total | 213 | 213 | |
Sales-type leases [Member] | |||
Net Investment in Lease [Abstract] | |||
Lease receivables, Sales-type leases | 169 | 169 | |
Impairment recognized, Sales-type leases | (1) | (1) | |
Total net investment, Sales-type Lease | 168 | 168 | |
Sales-type and Direct Financing Leases, Lease Receivable, Rolling Maturity [Abstract] | |||
Due within 1 year | 75 | 75 | |
Due between 1 and 2 years | 44 | 44 | |
Due between 2 and 3 years | 31 | 31 | |
Due between 3 and 4 years | 21 | 21 | |
Due between 4 and 5 years | 10 | 10 | |
Thereafter | 11 | 11 | |
Total | 192 | 192 | |
Future interest receivable | (23) | (23) | |
Lease receivables | 169 | 169 | |
Direct financing leases [Member] | |||
Net Investment in Lease [Abstract] | |||
Lease receivables, Direct financing leases | 3,414 | 3,414 | |
Impairment recognized, Direct financing leases | (21) | (21) | |
Total net investment, Direct financing leases | 3,393 | 3,393 | |
Sales-type and Direct Financing Leases, Lease Receivable, Rolling Maturity [Abstract] | |||
Due within 1 year | 1,323 | 1,323 | |
Due between 1 and 2 years | 908 | 908 | |
Due between 2 and 3 years | 727 | 727 | |
Due between 3 and 4 years | 531 | 531 | |
Due between 4 and 5 years | 193 | 193 | |
Thereafter | 269 | 269 | |
Total | 3,951 | 3,951 | |
Future interest receivable | (537) | (537) | |
Lease receivables | 3,414 | 3,414 | |
Bank | |||
Lease income [Abstract] | |||
Interest income on sales-type lease receivables | 2 | ||
Interest income on direct financing lease receivables | 53 | ||
Lease income from operating leases | 44 | ||
Variable lease income | 3 | ||
Total lease income | 102 | ||
Lessor, Operating Lease, Payments, Rolling Maturity [Abstract] | |||
Due within 1 year | 50 | 50 | |
Due between 1 and 2 years | 40 | 40 | |
Due between 2 and 3 years | 37 | 37 | |
Due between 3 and 4 years | 36 | 36 | |
Due between 4 and 5 years | 36 | 36 | |
Thereafter | 203 | 203 | |
Total | 402 | 402 | |
Bank | Sales-type leases [Member] | |||
Net Investment in Lease [Abstract] | |||
Lease receivables, Sales-type leases | 169 | 169 | |
Impairment recognized, Sales-type leases | (1) | (1) | |
Total net investment, Sales-type Lease | 168 | 168 | |
Sales-type and Direct Financing Leases, Lease Receivable, Rolling Maturity [Abstract] | |||
Due within 1 year | 75 | 75 | |
Due between 1 and 2 years | 44 | 44 | |
Due between 2 and 3 years | 31 | 31 | |
Due between 3 and 4 years | 21 | 21 | |
Due between 4 and 5 years | 10 | 10 | |
Thereafter | 11 | 11 | |
Total | 192 | 192 | |
Future interest receivable | (23) | (23) | |
Lease receivables | 169 | 169 | |
Bank | Direct financing leases [Member] | |||
Net Investment in Lease [Abstract] | |||
Lease receivables, Sales-type leases | 3,414 | 3,414 | |
Impairment recognized, Sales-type leases | (21) | (21) | |
Total net investment, Sales-type Lease | 3,393 | 3,393 | |
Sales-type and Direct Financing Leases, Lease Receivable, Rolling Maturity [Abstract] | |||
Due within 1 year | 1,323 | 1,323 | |
Due between 1 and 2 years | 908 | 908 | |
Due between 2 and 3 years | 727 | 727 | |
Due between 3 and 4 years | 531 | 531 | |
Due between 4 and 5 years | 193 | 193 | |
Thereafter | 269 | 269 | |
Total | 3,951 | 3,951 | |
Future interest receivable | (537) | (537) | |
Lease receivables | SFr 3,414 | SFr 3,414 |
Long-term debt (Details)
Long-term debt (Details) - CHF (SFr) SFr in Millions | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 |
Long-term debt | |||
Senior | SFr 138,349 | SFr 141,334 | SFr 136,392 |
Subordinated | 17,535 | 16,811 | 16,152 |
Non-recourse liabilities from consolidated VIEs | 2,071 | 2,116 | 1,764 |
Long-term debt | 157,955 | 160,261 | 154,308 |
of which reported at fair value | 71,648 | 69,411 | 63,935 |
Structured notes | |||
Long-term debt | |||
Long-term debt | 51,145 | SFr 51,735 | 48,064 |
Bank | |||
Long-term debt | |||
Senior | 138,421 | 136,445 | |
Subordinated | 16,526 | 15,224 | |
Non-recourse liabilities from consolidated VIEs | 2,071 | 1,764 | |
Long-term debt | 157,018 | 153,433 | |
of which reported at fair value | 70,703 | 63,027 | |
Bank | Structured notes | |||
Long-term debt | |||
Long-term debt | SFr 51,145 | SFr 48,064 |
Long-term debt - Maturities (De
Long-term debt - Maturities (Details 2) - CHF (SFr) SFr in Millions | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 |
Long-term debt by maturities | |||
Long-term debt | SFr 157,955 | SFr 160,261 | SFr 154,308 |
Structured notes | |||
Long-term debt by maturities | |||
Long-term debt | 51,145 | 51,735 | 48,064 |
Structured notes | Equity | |||
Long-term debt by maturities | |||
Long-term debt | 32,149 | 33,076 | 30,698 |
Structured notes | Fixed income | |||
Long-term debt by maturities | |||
Long-term debt | 14,893 | 14,436 | 13,128 |
Structured notes | Credit | |||
Long-term debt by maturities | |||
Long-term debt | 3,695 | 3,848 | 3,898 |
Structured notes | Other | |||
Long-term debt by maturities | |||
Long-term debt | 408 | SFr 375 | 340 |
Bank | |||
Long-term debt by maturities | |||
Long-term debt | 157,018 | 153,433 | |
Bank | Structured notes | |||
Long-term debt by maturities | |||
Long-term debt | 51,145 | 48,064 | |
Bank | Structured notes | Equity | |||
Long-term debt by maturities | |||
Long-term debt | 32,149 | 30,698 | |
Bank | Structured notes | Fixed income | |||
Long-term debt by maturities | |||
Long-term debt | 14,893 | 13,128 | |
Bank | Structured notes | Credit | |||
Long-term debt by maturities | |||
Long-term debt | 3,695 | 3,898 | |
Bank | Structured notes | Other | |||
Long-term debt by maturities | |||
Long-term debt | SFr 408 | SFr 340 |
Accumulated other comprehensi_3
Accumulated other comprehensive income (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Mar. 31, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | SFr (18,873) | SFr (17,981) | SFr (17,981) | ||
Balance at end of period | (18,946) | (18,873) | (18,946) | ||
Gains/(losses) on cash flow hedges | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | (26) | (72) | SFr (95) | (72) | SFr (62) |
Increase/(decrease) | 45 | 47 | (66) | 92 | (113) |
Increase/(decrease) due to equity method investments | (3) | (4) | (4) | (7) | (3) |
Reclassification adjustments, included in net income | 1 | 3 | 60 | 4 | 73 |
Cumulative effect of accounting changes, net of tax | 0 | 0 | 0 | ||
Total increase/(decrease) | 43 | 46 | (10) | 89 | (43) |
Balance at end of period | 17 | (26) | (105) | 17 | (105) |
Cumulative translation adjustments | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | (13,245) | (13,442) | (13,612) | (13,442) | (13,119) |
Increase/(decrease) | (589) | 195 | 562 | (394) | 69 |
Increase/(decrease) due to equity method investments | 0 | 0 | 0 | 0 | 0 |
Reclassification adjustments, included in net income | 0 | 2 | (2) | 2 | (2) |
Cumulative effect of accounting changes, net of tax | 0 | 0 | 0 | ||
Total increase/(decrease) | (589) | 197 | 560 | (392) | 67 |
Balance at end of period | (13,834) | (13,245) | (13,052) | (13,834) | (13,052) |
Unrealized gains/(losses) on securities | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | 24 | 10 | 21 | 10 | 48 |
Increase/(decrease) | 12 | 14 | (1) | 26 | (7) |
Increase/(decrease) due to equity method investments | 0 | 0 | 0 | 0 | 0 |
Reclassification adjustments, included in net income | 0 | 0 | (7) | 0 | (7) |
Cumulative effect of accounting changes, net of tax | 0 | 0 | (21) | ||
Total increase/(decrease) | 12 | 14 | (8) | 26 | (35) |
Balance at end of period | 36 | 24 | 13 | 36 | 13 |
Actuarial gains/(losses) | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | (3,956) | (3,974) | (3,503) | (3,974) | (3,583) |
Increase/(decrease) | 323 | 0 | 1 | 323 | 11 |
Increase/(decrease) due to equity method investments | 0 | 0 | 0 | 0 | 0 |
Reclassification adjustments, included in net income | 63 | 60 | 72 | 123 | 142 |
Cumulative effect of accounting changes, net of tax | (42) | (42) | 0 | ||
Total increase/(decrease) | 386 | 18 | 73 | 404 | 153 |
Balance at end of period | (3,570) | (3,956) | (3,430) | (3,570) | (3,430) |
Net prior service credit/ (cost) | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | 363 | 387 | 491 | 387 | 522 |
Increase/(decrease) | 338 | 0 | 0 | 338 | 0 |
Increase/(decrease) due to equity method investments | 0 | 0 | 0 | 0 | 0 |
Reclassification adjustments, included in net income | (32) | (24) | (29) | (56) | (60) |
Cumulative effect of accounting changes, net of tax | 0 | 0 | 0 | ||
Total increase/(decrease) | 306 | (24) | (29) | 282 | (60) |
Balance at end of period | 669 | 363 | 462 | 669 | 462 |
Accumulated Gains (Losses) On Liabilities Related To Credit Risk | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | (2,033) | (890) | (2,153) | (890) | (2,544) |
Increase/(decrease) | (312) | (1,151) | 733 | (1,463) | 1,117 |
Increase/(decrease) due to equity method investments | 0 | 0 | 0 | 0 | 0 |
Reclassification adjustments, included in net income | 81 | 30 | 28 | 111 | 35 |
Cumulative effect of accounting changes, net of tax | (22) | (22) | 0 | ||
Total increase/(decrease) | (231) | (1,143) | 761 | (1,374) | 1,152 |
Balance at end of period | (2,264) | (2,033) | (1,392) | (2,264) | (1,392) |
Accumulated other comprehensive income | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | (18,873) | (17,981) | (18,851) | (17,981) | (18,738) |
Increase/(decrease) | (183) | (895) | 1,229 | (1,078) | 1,077 |
Increase/(decrease) due to equity method investments | (3) | (4) | (4) | (7) | (3) |
Reclassification adjustments, included in net income | 113 | 71 | 122 | 184 | 181 |
Cumulative effect of accounting changes, net of tax | (64) | (64) | (21) | ||
Total increase/(decrease) | (73) | (892) | 1,347 | (965) | 1,234 |
Balance at end of period | (18,946) | (18,873) | (17,504) | (18,946) | (17,504) |
Bank | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | (14,840) | (14,840) | |||
Balance at end of period | (16,398) | (16,398) | |||
Bank | Gains/(losses) on cash flow hedges | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | (58) | (58) | (51) | ||
Increase/(decrease) | 93 | (113) | |||
Reclassification adjustments, included in net income | 0 | 70 | |||
Cumulative effect of accounting changes, net of tax | 0 | 0 | |||
Total increase/(decrease) | 93 | (43) | |||
Balance at end of period | 35 | (94) | 35 | (94) | |
Bank | Cumulative translation adjustments | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | (13,573) | (13,573) | (13,248) | ||
Increase/(decrease) | (384) | 57 | |||
Reclassification adjustments, included in net income | 0 | (2) | |||
Cumulative effect of accounting changes, net of tax | 0 | 0 | |||
Total increase/(decrease) | (384) | 55 | |||
Balance at end of period | (13,957) | (13,193) | (13,957) | (13,193) | |
Bank | Unrealized gains/(losses) on securities | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | 9 | 9 | 48 | ||
Increase/(decrease) | 27 | (6) | |||
Reclassification adjustments, included in net income | 0 | (7) | |||
Cumulative effect of accounting changes, net of tax | 0 | (22) | |||
Total increase/(decrease) | 27 | (35) | |||
Balance at end of period | 36 | 13 | 36 | 13 | |
Bank | Actuarial gains/(losses) | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | (350) | (350) | (381) | ||
Increase/(decrease) | 0 | (7) | |||
Reclassification adjustments, included in net income | 8 | 22 | |||
Cumulative effect of accounting changes, net of tax | (42) | 0 | |||
Total increase/(decrease) | (34) | 15 | |||
Balance at end of period | (384) | (366) | (384) | (366) | |
Bank | Net prior service credit/ (cost) | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | (8) | (8) | 2 | ||
Increase/(decrease) | 0 | 0 | |||
Reclassification adjustments, included in net income | 0 | 0 | |||
Cumulative effect of accounting changes, net of tax | 0 | 0 | |||
Total increase/(decrease) | 0 | 0 | |||
Balance at end of period | (8) | 2 | (8) | 2 | |
Bank | Accumulated Gains (Losses) On Liabilities Related To Credit Risk | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | (860) | (860) | (2,302) | ||
Increase/(decrease) | (1,349) | 956 | |||
Reclassification adjustments, included in net income | 111 | 35 | |||
Cumulative effect of accounting changes, net of tax | (22) | 0 | |||
Total increase/(decrease) | (1,260) | 991 | |||
Balance at end of period | (2,120) | (1,311) | (2,120) | (1,311) | |
Bank | Accumulated other comprehensive income | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | SFr (14,840) | (14,840) | (15,932) | ||
Increase/(decrease) | (1,613) | 887 | |||
Reclassification adjustments, included in net income | 119 | 118 | |||
Cumulative effect of accounting changes, net of tax | (64) | (22) | |||
Total increase/(decrease) | (1,558) | 983 | |||
Balance at end of period | SFr (16,398) | SFr (14,949) | SFr (16,398) | SFr (14,949) |
AOCI - Additional share informa
AOCI - Additional share information (Details 2) - SFr / shares | 3 Months Ended | 6 Months Ended | ||||||||||
Jun. 30, 2019 | Mar. 31, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |||||||
Common shares issued | ||||||||||||
Common Stock, Shares, Issued, Beginning Balance | 2,556,011,720 | 2,556,011,720 | 2,556,011,720 | 2,556,011,720 | 2,556,011,720 | |||||||
Common Stock, Shares, Issued, Ending Balance | 2,556,011,720 | 2,556,011,720 | 2,556,011,720 | 2,556,011,720 | 2,556,011,720 | |||||||
Treasury shares | ||||||||||||
Treasury Stock, Shares, Beginning Balance | 48,217,358 | 5,427,691 | 16,413,030 | 5,427,691 | 5,757,666 | |||||||
Sale of treasury shares | 153,739,570 | 238,506,125 | 173,383,973 | 392,245,695 | 371,216,190 | |||||||
Repurchase of treasury shares | 190,464,698 | 282,969,737 | 205,279,026 | 473,434,435 | 415,339,165 | |||||||
Share-based compensation, net of tax | 36,705,356 | 1,673,945 | 42,340,132 | 38,379,301 | 43,912,690 | |||||||
Treasury Stock, Shares, Ending Balance | 48,237,130 | 48,217,358 | 5,967,951 | 48,237,130 | 5,967,951 | |||||||
Common shares outstanding | 2,507,774,590 | [1] | 2,507,794,362 | [1] | 2,550,043,769 | [2] | 2,507,774,590 | [1] | 2,550,043,769 | [2] | 2,550,584,029 | |
Par value (in CHF per share) | SFr 0.04 | SFr 0.04 | SFr 0.04 | SFr 0.04 | SFr 0.04 | SFr 0.04 | ||||||
Authorized shares (in shares) | [3] | 3,209,011,720 | 3,271,129,950 | 3,209,011,720 | 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) | 111,193,477 | 111,193,477 | 505,062,294 | 111,193,477 | 505,062,294 | |||||||
Bank | ||||||||||||
Common shares issued | ||||||||||||
Common Stock, Shares, Issued, Beginning Balance | [4] | 4,399,680,200 | 4,399,680,200 | |||||||||
Common Stock, Shares, Issued, Ending Balance | [4] | 4,399,680,200 | 4,399,680,200 | |||||||||
Treasury shares | ||||||||||||
Common shares outstanding | [4] | 4,399,680,200 | 4,399,680,200 | 4,399,680,200 | ||||||||
Par value (in CHF per share) | [4] | SFr 1 | SFr 1 | SFr 1 | ||||||||
[1] | At par value CHF 0.04 each, fully paid. In addition to the treasury shares, a maximum of 653,000,000 unissued shares (conditional, conversion and authorized capital) were available for issuance without further approval of the shareholders. 111,193,477 of these shares were reserved for capital instruments. | |||||||||||
[2] | 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] | Includes issued shares and unissued shares (conditional, conversion and authorized capital). | |||||||||||
[4] | The Bank's total share capital is fully paid and consists of 4,399,680,200 registered shares as of June 30, 2019. 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, 2019 | Mar. 31, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Reclassification adjustments, included in net income | |||||
Income tax expense/(benefit) | SFr 365 | SFr 313 | SFr 398 | SFr 678 | SFr 760 |
Gains/(losses) on cash flow hedges | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income | 1 | 3 | 60 | 4 | 73 |
Cumulative translation adjustments | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income | 0 | 2 | (2) | 2 | (2) |
Unrealized gains/(losses) on securities | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income | 0 | 0 | (7) | 0 | (7) |
Accumulated other comprehensive income | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income | 113 | 71 | 122 | 184 | 181 |
Net prior service credit/ (cost) | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income | (32) | (24) | (29) | (56) | (60) |
Net prior service credit/ (cost) | Reclassification out of Accumulated Other Comprehensive Income [Member] | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income, before tax | (41) | (30) | (37) | (71) | (76) |
Income tax expense/(benefit) | 9 | 6 | 8 | 15 | 16 |
Actuarial gains/(losses) | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income | 63 | 60 | 72 | 123 | 142 |
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 | 80 | 76 | 90 | 156 | 178 |
Income tax expense/(benefit) | (17) | SFr (16) | (18) | (33) | (36) |
Bank | |||||
Reclassification adjustments, included in net income | |||||
Income tax expense/(benefit) | SFr 339 | SFr 330 | 701 | 629 | |
Bank | Gains/(losses) on cash flow hedges | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income | 0 | 70 | |||
Bank | Cumulative translation adjustments | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income | 0 | (2) | |||
Bank | Unrealized gains/(losses) on securities | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income | 0 | (7) | |||
Bank | Accumulated other comprehensive income | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income | 119 | 118 | |||
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 | 8 | 22 | |||
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 | 10 | 26 | |||
Income tax expense/(benefit) | SFr (2) | SFr (4) |
Offsetting of financial asset_3
Offsetting of financial assets (Details) - CHF (SFr) SFr in Millions | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 |
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | SFr 131,300 | SFr 124,700 | |
Offsetting | (116,000) | (110,100) | |
of which counterparty netting | (99,900) | (96,900) | |
of which cash collateral netting | (16,100) | (13,200) | |
Total net derivatives subject to enforceable master netting agreements | 15,300 | 14,600 | |
Total derivatives not subject to enforceable master netting agreements | 4,400 | 3,700 | |
Total net derivatives presented in the consolidated balance sheets | 19,700 | 18,300 | |
Offsetting of securities purchased under resale agreements and securities borrowing transactions | |||
Securities purchased under resale agreements, gross | 83,000 | 86,600 | |
Securities purchased under resale agreements, offsetting | (13,600) | (20,900) | |
Securities purchased under resale agreements, net | 69,400 | 65,700 | |
Securities borrowing transactions, gross | 15,100 | 12,600 | |
Securities borrowing transactions, offsetting | (800) | (2,200) | |
Securities borrowing transactions, net | 14,300 | 10,400 | |
Total subject to enforceable master netting agreements, gross | 98,100 | 99,200 | |
Total subject to enforceable master netting agreements, offsetting | (14,400) | (23,100) | |
Total subject to enforceable master netting agreements, net | 83,700 | 76,100 | |
Total not subject to enforceable master netting agreements | 29,800 | 41,000 | |
Total, gross | 127,900 | 140,200 | |
Total, net | 113,500 | 117,100 | |
of which reported at fair value | 82,286 | SFr 81,730 | 81,818 |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 15,300 | 14,600 | |
Derivatives, financial instruments | 4,900 | 4,500 | |
Derivatives, cash collateral received/pledged | 0 | 100 | |
Derivatives, net exposure | 10,400 | 10,000 | |
Securities purchased under resale agreements, net | 69,400 | 65,700 | |
Securities purchased under resale agreements, financial instruments | 69,400 | 65,700 | |
Securities purchased under resale agreements, cash collateral received/pledged | 0 | 0 | |
Securities purchased under resale agreements, net exposure | 0 | 0 | |
Securities borrowing transactions, net | 14,300 | 10,400 | |
Securities borrowing transactions, financial instruments | 13,700 | 10,000 | |
Securities borrowing transactions, cash collateral received/pledged | 0 | 0 | |
Securities borrowing transactions, net exposure | 600 | 400 | |
Total financial assets subject to enforceable master netting agreements, net | 99,000 | 90,700 | |
Total financial assets subject to enforceable master netting agreements, financial instruments | 88,000 | 80,200 | |
Total financial assets subject to enforceable master netting agreements, cash collateral received/pledged | 0 | 100 | |
Total financial assets subject to enforceable master netting agreements, net exposure | 11,000 | 10,400 | |
Trading assets | |||
Offsetting of derivatives | |||
Total net derivatives presented in the consolidated balance sheets | 19,600 | 18,300 | |
Other assets | |||
Offsetting of derivatives | |||
Total net derivatives presented in the consolidated balance sheets | 100 | 0 | |
OTC-cleared | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 8,700 | 7,100 | |
Offsetting | (7,200) | (5,900) | |
Total net derivatives subject to enforceable master netting agreements | 1,500 | 1,200 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 1,500 | 1,200 | |
OTC | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 111,100 | 105,500 | |
Offsetting | (97,700) | (92,600) | |
Total net derivatives subject to enforceable master netting agreements | 13,400 | 12,900 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 13,400 | 12,900 | |
Exchange-traded | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 11,500 | 12,100 | |
Offsetting | (11,100) | (11,600) | |
Total net derivatives subject to enforceable master netting agreements | 400 | 500 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 400 | 500 | |
Interest rate derivatives | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 78,900 | 69,100 | |
Interest rate derivatives | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 5,100 | 5,500 | |
Interest rate derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 73,400 | 63,400 | |
Interest rate derivatives | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 400 | 200 | |
Foreign exchange derivatives | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 22,500 | 27,000 | |
Foreign exchange derivatives | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 200 | 100 | |
Foreign exchange derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 22,300 | 26,900 | |
Equity/index-related derivatives | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 21,800 | 22,000 | |
Equity/index-related derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 10,700 | 10,200 | |
Equity/index-related derivatives | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 11,100 | 11,800 | |
Credit derivatives | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 6,900 | 5,300 | |
Credit derivatives | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 3,400 | 1,500 | |
Credit derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 3,500 | 3,800 | |
Other products | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 1,200 | 1,300 | |
Other products | OTC | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 1,200 | 1,200 | |
Other products | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 0 | 100 | |
Bank | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 131,300 | 124,700 | |
Offsetting | (116,000) | (110,100) | |
of which counterparty netting | (99,900) | (96,900) | |
of which cash collateral netting | (16,100) | (13,200) | |
Total net derivatives subject to enforceable master netting agreements | 15,300 | 14,600 | |
Total derivatives not subject to enforceable master netting agreements | 4,400 | 3,800 | |
Total net derivatives presented in the consolidated balance sheets | 19,700 | 18,400 | |
Offsetting of securities purchased under resale agreements and securities borrowing transactions | |||
Securities purchased under resale agreements, gross | 83,000 | 86,600 | |
Securities purchased under resale agreements, offsetting | (13,600) | (20,900) | |
Securities purchased under resale agreements, net | 69,400 | 65,700 | |
Securities borrowing transactions, gross | 15,100 | 12,600 | |
Securities borrowing transactions, offsetting | (800) | (2,200) | |
Securities borrowing transactions, net | 14,300 | 10,400 | |
Total subject to enforceable master netting agreements, gross | 98,100 | 99,200 | |
Total subject to enforceable master netting agreements, offsetting | (14,400) | (23,100) | |
Total subject to enforceable master netting agreements, net | 83,700 | 76,100 | |
Total not subject to enforceable master netting agreements | 29,800 | 41,000 | |
Total, gross | 127,900 | 140,200 | |
Total, net | 113,500 | 117,100 | |
of which reported at fair value | 82,286 | 81,818 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 15,300 | 14,600 | |
Derivatives, financial instruments | 4,900 | 4,500 | |
Derivatives, cash collateral received/pledged | 0 | 100 | |
Derivatives, net exposure | 10,400 | 10,000 | |
Securities purchased under resale agreements, net | 69,400 | 65,700 | |
Securities purchased under resale agreements, financial instruments | 69,400 | 65,700 | |
Securities purchased under resale agreements, cash collateral received/pledged | 0 | 0 | |
Securities purchased under resale agreements, net exposure | 0 | 0 | |
Securities borrowing transactions, net | 14,300 | 10,400 | |
Securities borrowing transactions, financial instruments | 13,700 | 10,000 | |
Securities borrowing transactions, cash collateral received/pledged | 0 | 0 | |
Securities borrowing transactions, net exposure | 600 | 400 | |
Total financial assets subject to enforceable master netting agreements, net | 99,000 | 90,700 | |
Total financial assets subject to enforceable master netting agreements, financial instruments | 88,000 | 80,200 | |
Total financial assets subject to enforceable master netting agreements, cash collateral received/pledged | 0 | 100 | |
Total financial assets subject to enforceable master netting agreements, net exposure | 11,000 | 10,400 | |
Bank | Trading assets | |||
Offsetting of derivatives | |||
Total net derivatives presented in the consolidated balance sheets | 19,600 | 18,400 | |
Bank | Other assets | |||
Offsetting of derivatives | |||
Total net derivatives presented in the consolidated balance sheets | 100 | 0 | |
Bank | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 8,700 | 7,100 | |
Offsetting | (7,200) | (6,000) | |
Total net derivatives subject to enforceable master netting agreements | 1,500 | 1,100 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 1,500 | 1,100 | |
Bank | OTC | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 111,100 | 105,600 | |
Offsetting | (97,700) | (92,500) | |
Total net derivatives subject to enforceable master netting agreements | 13,400 | 13,100 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 13,400 | 13,100 | |
Bank | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 11,500 | 12,000 | |
Offsetting | (11,100) | (11,600) | |
Total net derivatives subject to enforceable master netting agreements | 400 | 400 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 400 | 400 | |
Bank | Interest rate derivatives | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 78,900 | 69,100 | |
Bank | Interest rate derivatives | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 5,100 | 5,500 | |
Bank | Interest rate derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 73,400 | 63,400 | |
Bank | Interest rate derivatives | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 400 | 200 | |
Bank | Foreign exchange derivatives | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 22,500 | 27,000 | |
Bank | Foreign exchange derivatives | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 200 | 100 | |
Bank | Foreign exchange derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 22,300 | 26,900 | |
Bank | Equity/index-related derivatives | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 21,800 | 22,000 | |
Bank | Equity/index-related derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 10,700 | 10,200 | |
Bank | Equity/index-related derivatives | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 11,100 | 11,800 | |
Bank | Credit derivatives | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 6,900 | 5,300 | |
Bank | Credit derivatives | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 3,400 | 1,500 | |
Bank | Credit derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 3,500 | 3,800 | |
Bank | Other products | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 1,200 | 1,300 | |
Bank | Other products | OTC | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | SFr 1,200 | SFr 1,300 |
Offsetting of financial liabili
Offsetting of financial liabilities (Details 2) - CHF (SFr) SFr in Millions | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 |
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | SFr 130,400 | SFr 128,600 | |
Offsetting | (119,400) | (117,300) | |
of which counterparty netting | (99,900) | (96,900) | |
of which cash collateral netting | (19,500) | (20,400) | |
Total net derivatives subject to enforceable master netting agreements | 11,000 | 11,300 | |
Total derivatives not subject to enforceable master netting agreements | 3,800 | 3,900 | |
Total net derivatives presented in the consolidated balance sheets | 14,800 | 15,200 | |
Offsetting of securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral | |||
Securities sold under repurchase agreements, gross | 27,700 | 42,300 | |
Securities sold under repurchase agreements, offsetting | (14,400) | (22,500) | |
Securities sold under repurchase agreements, net | 13,300 | 19,800 | |
Securities lending transactions, gross | 3,900 | 4,200 | |
Securities lending transactions, offsetting | 0 | (600) | |
Securities lending transactions, net | 3,900 | 3,600 | |
Obligation to return securities received as collateral, at fair value, gross | 44,600 | 39,400 | |
Obligation to return securities received as collateral, at fair value, offsetting | 0 | 0 | |
Obligation to return securities received as collateral, at fair value, net | 44,600 | 39,400 | |
Total subject to enforceable master netting agreements, gross | 76,200 | 85,900 | |
Total subject to enforceable master netting agreements, offsetting | (14,400) | (23,100) | |
Total subject to enforceable master netting agreements, net | 61,800 | 62,800 | |
Total not subject to enforceable master netting agreements | 2,400 | 3,500 | |
Total, gross | 78,600 | 89,400 | |
Total, net | 64,200 | 66,300 | |
of which reported at fair value | 9,195 | SFr 9,745 | 14,828 |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 11,000 | 11,300 | |
Derivatives, financial instruments | 1,400 | 1,400 | |
Derivatives, cash collateral received/pledged | 0 | 0 | |
Derivatives, net exposure | 9,600 | 9,900 | |
Securities sold under repurchase agreements, net | 13,300 | 19,800 | |
Securities sold under repurchase agreements, financial instruments | 13,300 | 19,700 | |
Securities sold under repurchase agreements, cash collateral received/pledged | 0 | 100 | |
Securities sold under repurchase agreements, net exposure | 0 | 0 | |
Securities lending transactions, net | 3,900 | 3,600 | |
Securities lending transactions, financial instruments | 3,500 | 3,200 | |
Securities lending transactions, cash collateral received/pledged | 0 | 0 | |
Securities lending transactions, net exposure | 400 | 400 | |
Obligation to return securities received as collateral, at fair value, net | 44,600 | 39,400 | |
Obligation to return securities received as collateral, financial instruments | 37,800 | 34,300 | |
Obligation to return securities received as collateral, cash collateral received/pledged | 0 | 0 | |
Obligation to return securities received as collateral, at fair value, net exposure | 6,800 | 5,100 | |
Total financial liabilities subject to enforceable master netting agreements, net | 72,800 | 74,100 | |
Total financial liabilities subject to enforceable master netting agreements, financial instruments | 56,000 | 58,600 | |
Total financial liabilities subject to enforceable master netting agreements, cash collateral received/pledged | 0 | 100 | |
Total financial liabilities subject to enforceable master netting agreements, net exposure | 16,800 | 15,400 | |
Trading liabilities | |||
Offsetting of derivatives | |||
Total net derivatives presented in the consolidated balance sheets | 14,800 | 15,200 | |
Other liabilities | |||
Offsetting of derivatives | |||
Total net derivatives presented in the consolidated balance sheets | 0 | 0 | |
Securities sold under repurchase agreements and securities | |||
Offsetting of securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral | |||
Total subject to enforceable master netting agreements, offsetting | (14,400) | (23,100) | |
Total, gross | 33,200 | 47,700 | |
Total, net | 18,800 | 24,600 | |
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 | 45,400 | 41,700 | |
Total, net | 45,400 | 41,700 | |
OTC-cleared | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 7,900 | 6,600 | |
Offsetting | (6,700) | (5,800) | |
Total net derivatives subject to enforceable master netting agreements | 1,200 | 800 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 1,200 | 800 | |
OTC | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 109,800 | 107,200 | |
Offsetting | (101,400) | (99,000) | |
Total net derivatives subject to enforceable master netting agreements | 8,400 | 8,200 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 8,400 | 8,200 | |
Exchange-traded | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 12,700 | 14,800 | |
Offsetting | (11,300) | (12,500) | |
Total net derivatives subject to enforceable master netting agreements | 1,400 | 2,300 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 1,400 | 2,300 | |
Interest rate derivatives | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 73,000 | 65,700 | |
Interest rate derivatives | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 4,200 | 4,800 | |
Interest rate derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 68,400 | 60,600 | |
Interest rate derivatives | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 400 | 300 | |
Foreign exchange derivatives | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 27,000 | 31,300 | |
Foreign exchange derivatives | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 200 | 200 | |
Foreign exchange derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 26,800 | 31,100 | |
Equity/index-related derivatives | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 21,500 | 24,400 | |
Equity/index-related derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 9,200 | 10,200 | |
Equity/index-related derivatives | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 12,300 | 14,200 | |
Credit derivatives | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 8,200 | 6,500 | |
Credit derivatives | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 3,500 | 1,600 | |
Credit derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 4,700 | 4,900 | |
Other products | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 700 | 700 | |
Other products | OTC | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 700 | 400 | |
Other products | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 0 | 300 | |
Bank | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 130,400 | 128,700 | |
Offsetting | (119,400) | (117,400) | |
of which counterparty netting | (99,900) | (96,900) | |
of which cash collateral netting | (19,500) | (20,500) | |
Total net derivatives subject to enforceable master netting agreements | 11,000 | 11,300 | |
Total derivatives not subject to enforceable master netting agreements | 3,800 | 3,900 | |
Total net derivatives presented in the consolidated balance sheets | 14,800 | 15,200 | |
Offsetting of securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral | |||
Securities sold under repurchase agreements, gross | 27,800 | 42,300 | |
Securities sold under repurchase agreements, offsetting | (14,400) | (22,500) | |
Securities sold under repurchase agreements, net | 13,400 | 19,800 | |
Securities lending transactions, gross | 3,900 | 4,200 | |
Securities lending transactions, offsetting | 0 | (600) | |
Securities lending transactions, net | 3,900 | 3,600 | |
Obligation to return securities received as collateral, at fair value, gross | 44,600 | 39,400 | |
Obligation to return securities received as collateral, at fair value, offsetting | 0 | 0 | |
Obligation to return securities received as collateral, at fair value, net | 44,600 | 39,400 | |
Total subject to enforceable master netting agreements, gross | 76,300 | 85,900 | |
Total subject to enforceable master netting agreements, offsetting | (14,400) | (23,100) | |
Total subject to enforceable master netting agreements, net | 61,900 | 62,800 | |
Total not subject to enforceable master netting agreements | 2,400 | 3,500 | |
Total, gross | 78,700 | 89,400 | |
Total, net | 64,300 | 66,300 | |
of which reported at fair value | 9,304 | 14,828 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 11,000 | 11,300 | |
Derivatives, financial instruments | 1,400 | 1,400 | |
Derivatives, cash collateral received/pledged | 0 | 0 | |
Derivatives, net exposure | 9,600 | 9,900 | |
Securities sold under repurchase agreements, net | 13,400 | 19,800 | |
Securities sold under repurchase agreements, financial instruments | 13,400 | 19,700 | |
Securities sold under repurchase agreements, cash collateral received/pledged | 0 | 100 | |
Securities sold under repurchase agreements, net exposure | 0 | 0 | |
Securities lending transactions, net | 3,900 | 3,600 | |
Securities lending transactions, financial instruments | 3,500 | 3,200 | |
Securities lending transactions, cash collateral received/pledged | 0 | 0 | |
Securities lending transactions, net exposure | 400 | 400 | |
Obligation to return securities received as collateral, at fair value, net | 44,600 | 39,400 | |
Obligation to return securities received as collateral, financial instruments | 37,800 | 34,300 | |
Obligation to return securities received as collateral, cash collateral received/pledged | 0 | 0 | |
Obligation to return securities received as collateral, at fair value, net exposure | 6,800 | 5,100 | |
Total financial liabilities subject to enforceable master netting agreements, net | 72,900 | 74,100 | |
Total financial liabilities subject to enforceable master netting agreements, financial instruments | 56,100 | 58,600 | |
Total financial liabilities subject to enforceable master netting agreements, cash collateral received/pledged | 0 | 100 | |
Total financial liabilities subject to enforceable master netting agreements, net exposure | 16,800 | 15,400 | |
Bank | Trading liabilities | |||
Offsetting of derivatives | |||
Total net derivatives presented in the consolidated balance sheets | 14,800 | 15,200 | |
Bank | Other liabilities | |||
Offsetting of derivatives | |||
Total net derivatives presented in the consolidated balance sheets | 0 | 0 | |
Bank | Securities sold under repurchase agreements and securities | |||
Offsetting of securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral | |||
Total subject to enforceable master netting agreements, offsetting | (14,400) | (23,100) | |
Total, gross | 33,300 | 47,700 | |
Total, net | 18,900 | 24,600 | |
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 | 45,400 | 41,700 | |
Total, net | 45,400 | 41,700 | |
Bank | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 7,900 | 6,600 | |
Offsetting | (6,700) | (5,800) | |
Total net derivatives subject to enforceable master netting agreements | 1,200 | 800 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 1,200 | 800 | |
Bank | OTC | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 109,800 | 107,600 | |
Offsetting | (101,400) | (99,100) | |
Total net derivatives subject to enforceable master netting agreements | 8,400 | 8,500 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 8,400 | 8,500 | |
Bank | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 12,700 | 14,500 | |
Offsetting | (11,300) | (12,500) | |
Total net derivatives subject to enforceable master netting agreements | 1,400 | 2,000 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 1,400 | 2,000 | |
Bank | Interest rate derivatives | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 73,000 | 65,800 | |
Bank | Interest rate derivatives | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 4,200 | 4,800 | |
Bank | Interest rate derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 68,400 | 60,700 | |
Bank | Interest rate derivatives | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 400 | 300 | |
Bank | Foreign exchange derivatives | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 27,000 | 31,400 | |
Bank | Foreign exchange derivatives | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 200 | 200 | |
Bank | Foreign exchange derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 26,800 | 31,200 | |
Bank | Equity/index-related derivatives | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 21,500 | 24,500 | |
Bank | Equity/index-related derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 9,200 | 10,300 | |
Bank | Equity/index-related derivatives | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 12,300 | 14,200 | |
Bank | Credit derivatives | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 8,200 | 6,500 | |
Bank | Credit derivatives | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 3,500 | 1,600 | |
Bank | Credit derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 4,700 | 4,900 | |
Bank | Other products | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 700 | 500 | |
Bank | Other products | OTC | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | SFr 700 | SFr 500 |
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, 2019 | Mar. 31, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Income from continuing operations before taxes (CHF) | |||||
Income/(loss) before taxes | SFr 1,302 | SFr 1,062 | SFr 1,052 | SFr 2,364 | SFr 2,106 |
Current and deferred taxes | |||||
Deferred income tax expense | 212 | 446 | |||
Income tax expense | 365 | 313 | 398 | 678 | 760 |
Reconciliation of taxes computed at the Swiss statutory rate | |||||
Income tax expense computed at the statutory tax rate of 22% | SFr 286 | ||||
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 (24) | ||||
Other non-deductible expenses | 61 | ||||
of which non-deductible interest expenses | 54 | ||||
of which contingency accrual relating to non-deductible interest expense | 60 | ||||
Lower taxed income | (30) | ||||
of which tax benefit in respect to non-taxable dividend income | (17) | ||||
of which tax benefit related non-taxable life insurance income | (12) | ||||
Changes in deferred tax valuation allowance | 8 | ||||
(Windfall tax benefits)/shortfall tax charges on share-based compensation | 33 | ||||
Other | 31 | ||||
of which tax expense relating to non-recoverable foreign and withholding taxes | 26 | ||||
of which tax (benefit)/charge from the impact of prior year adjustments | 7 | ||||
of which tax expense from own-credit revaluation gains | 15 | ||||
of which tax impact of transitional adjustments arising from adoption of new accounting standards | 36 | ||||
of which tax impact of the US Base Erosion and Anti-abuse Tax (BEAT) | 30 | ||||
of which tax impact of the reversalof previously unrecognized tax benefits | 12 | ||||
Income tax expense | 365 | SFr 313 | 398 | 678 | 760 |
Switzerland | |||||
Increase/(decrease) in income taxes resulting from: | |||||
of which tax benefit relating to the re-assessment of deferred tax assets in Switzerland changes in forecasted future profitability | (41) | ||||
UK | |||||
Increase/(decrease) in income taxes resulting from: | |||||
Changes in deferred tax valuation allowance | (30) | ||||
US, UK and Switzerland | |||||
Increase/(decrease) in income taxes resulting from: | |||||
Changes in deferred tax valuation allowance | 38 | ||||
Bank | |||||
Income from continuing operations before taxes (CHF) | |||||
Income/(loss) before taxes | 1,270 | 977 | 2,261 | 1,887 | |
Current and deferred taxes | |||||
Deferred income tax expense | 241 | 325 | |||
Income tax expense | 339 | 330 | 701 | 629 | |
Reconciliation of taxes computed at the Swiss statutory rate | |||||
Income tax expense computed at the statutory tax rate of 22% | SFr 497 | ||||
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 (22) | ||||
Other non-deductible expenses | 146 | ||||
of which non-deductible interest expenses | 123 | ||||
of which non-deductible provision accruals | 13 | ||||
of which contingency accrual relating to non-deductible interest expense | 60 | ||||
Lower taxed income | (47) | ||||
of which tax benefit in respect to non-taxable dividend income | (23) | ||||
of which tax benefit related non-taxable life insurance income | (24) | ||||
Changes in deferred tax valuation allowance | (24) | ||||
(Windfall tax benefits)/shortfall tax charges on share-based compensation | 33 | ||||
Other | 118 | ||||
of which tax expense relating to non-recoverable foreign and withholding taxes | 26 | ||||
of which tax (benefit)/charge from the impact of prior year adjustments | 14 | ||||
of which tax impact of transitional adjustments arising from adoption of new accounting standards | 62 | ||||
of which tax impact of the US Base Erosion and Anti-abuse Tax (BEAT) | 51 | ||||
of which tax impact of the reversalof previously unrecognized tax benefits | 12 | ||||
Income tax expense | SFr 339 | SFr 330 | 701 | SFr 629 | |
Bank | Switzerland | |||||
Increase/(decrease) in income taxes resulting from: | |||||
of which tax benefit relating to the re-assessment of deferred tax assets in Switzerland changes in forecasted future profitability | 44 | ||||
Bank | UK | |||||
Increase/(decrease) in income taxes resulting from: | |||||
Changes in deferred tax valuation allowance | (61) | ||||
Bank | US and UK | |||||
Increase/(decrease) in income taxes resulting from: | |||||
Changes in deferred tax valuation allowance | SFr 37 |
Tax - Balance sheet related (De
Tax - Balance sheet related (Details 2) - CHF (SFr) SFr in Millions | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 |
Tax effect of temporary differences | |||
Net operating loss carry-forwards, after allocation of valuation allowances | SFr 1,678 | SFr 1,614 | |
Net deferred tax assets | 4,143 | SFr 4,464 | |
Bank | |||
Tax effect of temporary differences | |||
Net operating loss carry-forwards, after allocation of valuation allowances | 1,655 | SFr 1,632 | |
Net deferred tax assets | SFr 4,479 | SFr 4,619 |
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, 2019 | Mar. 31, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Net deferred tax assets | ||||||
Deferred tax assets | SFr 4,787 | SFr 4,920 | SFr 4,787 | SFr 4,943 | ||
Net operating loss carry-forwards, after allocation of valuation allowances | 1,678 | 1,614 | 1,678 | |||
Temporary differences | 3,109 | 3,306 | 3,109 | |||
Deferred tax liabilities | 644 | 456 | 644 | 438 | ||
Deferred Tax Assets (Liabilities), Net | 4,143 | SFr 4,464 | 4,143 | |||
Accumulated undistributed earnings from foreign subsidiaries | SFr 11,900 | SFr 11,900 | ||||
Effective tax rate | ||||||
Effective tax rate (as a percent) | 28.00% | 29.50% | 37.80% | 28.70% | 36.10% | |
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 | 187 | 187 | ||||
Bank | ||||||
Net deferred tax assets | ||||||
Deferred tax assets | 4,725 | 4,725 | 4,887 | |||
Net operating loss carry-forwards, after allocation of valuation allowances | 1,655 | 1,655 | 1,632 | |||
Temporary differences | 3,070 | 3,070 | 3,255 | |||
Deferred tax liabilities | 246 | 246 | 268 | |||
Deferred Tax Assets (Liabilities), Net | 4,479 | 4,479 | SFr 4,619 | |||
Accumulated undistributed earnings from foreign subsidiaries | 11,300 | SFr 11,300 | ||||
Effective tax rate | ||||||
Effective tax rate (as a percent) | 31.00% | 33.30% | ||||
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 187 | SFr 187 |
Deferred compensation expense (
Deferred compensation expense (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Mar. 31, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | SFr 452 | SFr 430 | SFr 370 | SFr 882 | SFr 737 |
Other Cash Awards | |||||
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | 97 | 94 | 106 | 191 | 163 |
Contingent Capital Awards (CCA) | |||||
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | 83 | 77 | 42 | 160 | 94 |
Performance shares | Performance share awards | |||||
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | 122 | 108 | 92 | 230 | 201 |
Stock compensation plan | Share awards | |||||
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | 150 | 151 | 130 | 301 | 278 |
Stock compensation plan | Contingent Capital share awards | |||||
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | SFr 0 | SFr 0 | SFr 0 | 0 | 1 |
Bank | |||||
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | 846 | 715 | |||
Bank | Other Cash Awards | |||||
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | 173 | 157 | |||
Bank | Contingent Capital Awards (CCA) | |||||
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | 156 | 92 | |||
Bank | Performance shares | Performance share awards | |||||
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | 223 | 195 | |||
Bank | Stock compensation plan | Share awards | |||||
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | 294 | 270 | |||
Bank | Stock compensation plan | Contingent Capital share awards | |||||
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | SFr 0 | SFr 1 |
Estimated unrecognized deferred
Estimated unrecognized deferred compensation (Details 2) SFr in Millions | 3 Months Ended | 6 Months Ended |
Jun. 30, 2019CHF (SFr) | Jun. 30, 2019CHF (SFr) | |
Estimated unrecognized compensation expense | ||
Total estimated unrecognized compensation expense | SFr 1,811 | SFr 1,811 |
Aggregate remaining weighted-average requisite service period (years) | ||
Aggregate remaining requisite service period (in years) | 1 year 2 months 12 days | |
Other Cash Awards | ||
Estimated unrecognized compensation expense | ||
Total estimated unrecognized compensation expense | SFr 307 | 307 |
Contingent Capital Awards (CCA) | ||
Estimated unrecognized compensation expense | ||
Total estimated unrecognized compensation expense | 288 | 288 |
Performance shares | Performance share awards | ||
Estimated unrecognized compensation expense | ||
Total estimated unrecognized compensation expense | 436 | 436 |
Stock compensation plan | Share awards | ||
Estimated unrecognized compensation expense | ||
Total estimated unrecognized compensation expense | 780 | 780 |
Bank | ||
Estimated unrecognized compensation expense | ||
Total estimated unrecognized compensation expense | 1,726 | SFr 1,726 |
Aggregate remaining weighted-average requisite service period (years) | ||
Aggregate remaining requisite service period (in years) | 1 year 2 months 12 days | |
Bank | Other Cash Awards | ||
Estimated unrecognized compensation expense | ||
Total estimated unrecognized compensation expense | 269 | SFr 269 |
Bank | Contingent Capital Awards (CCA) | ||
Estimated unrecognized compensation expense | ||
Total estimated unrecognized compensation expense | 280 | 280 |
Bank | Performance shares | Performance share awards | ||
Estimated unrecognized compensation expense | ||
Total estimated unrecognized compensation expense | 419 | 419 |
Bank | Stock compensation plan | Share awards | ||
Estimated unrecognized compensation expense | ||
Total estimated unrecognized compensation expense | SFr 758 | SFr 758 |
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, 2019 | Jun. 30, 2019 | Jun. 30, 2018 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total estimated unrecognized compensation expense | SFr 1,811 | SFr 1,811 | |
Performance shares | Performance share awards | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total estimated unrecognized compensation expense | SFr 436 | SFr 436 | |
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 | 97.7 | 51.7 | |
Granted (in shares) | 0 | 46.1 | |
Settled (in shares) | (19.6) | (19.6) | |
Forfeited (in shares) | (0.6) | (0.7) | |
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Ending Balance | 77.5 | 77.5 | |
of which vested (in shares) | 7 | 7 | 7 |
of which unvested (in shares) | 70.5 | 70.5 | 70.5 |
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 780 | SFr 780 | |
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 | 139.2 | 83.2 | |
Granted (in shares) | 6.1 | 65.3 | |
Settled (in shares) | (31.4) | (34.2) | |
Forfeited (in shares) | (1.2) | (1.6) | |
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Ending Balance | 112.7 | 112.7 | |
of which vested (in shares) | 9.5 | 9.5 | 9.5 |
of which unvested (in shares) | 103.2 | 103.2 | 103.2 |
Stock compensation plan | Contingent Capital share awards | |||
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 | 3.4 | 3.4 | |
Granted (in shares) | 0 | 0 | |
Settled (in shares) | (3.3) | (3.3) | |
Forfeited (in shares) | 0 | 0 | |
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Ending Balance | 0.1 | 0.1 | |
of which vested (in shares) | 0.1 | 0.1 | 0.1 |
of which unvested (in shares) | 0 | 0 | 0 |
Bank | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total estimated unrecognized compensation expense | SFr 1,726 | SFr 1,726 | |
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 6M19, the Bank granted 44.7 million performance share awards at a weighted-average share price of CHF 11.60. 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 419 | SFr 419 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | |||
Weighted-average grant-date fair value - Granted (in CHF per share) | SFr 11.60 | ||
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 | 50 | ||
Granted (in shares) | 44.7 | ||
Settled (in shares) | (19.2) | ||
Forfeited (in shares) | (0.9) | ||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Ending Balance | 74.6 | 74.6 | |
of which vested (in shares) | 6.6 | 6.6 | |
of which unvested (in shares) | 68 | 68 | |
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 6M19, the Bank granted 61.1 million share awards at a weighted-average share price of CHF 11.16. Each share award granted entitles the holder of the award to receive one Group share, subject to service conditions. Share awards vest over three years with one third of the share awards vesting on each of the three anniversaries of the grant date (ratable vesting), with the exception of awards granted to individuals classified as risk managers or senior managers under the UK Prudential Regulatory Authority (PRA) Remuneration Code or similar regulations in other jurisdictions. Share awards granted to risk managers vest over five years with one fifth of the award vesting on each of the five anniversaries of the grant date, while share awards granted to senior managers vest over five years commencing on the third anniversary of the grant date, with one fifth of the award vesting on each of the third to seventh anniversaries of the grant date. Share awards are expensed over the service period of the awards. | ||
Vesting period | 3 years | ||
Total estimated unrecognized compensation expense | SFr 758 | SFr 758 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | |||
Weighted-average grant-date fair value - Granted (in CHF per share) | SFr 11.16 | ||
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 | 77.1 | ||
Granted (in shares) | 61.1 | ||
Settled (in shares) | (32.7) | ||
Forfeited (in shares) | (1.7) | ||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Ending Balance | 103.8 | 103.8 | |
of which vested (in shares) | 8.9 | 8.9 | |
of which unvested (in shares) | 94.9 | 94.9 | |
Bank | Stock compensation plan | Share awards | UK PRA staff or similuar regulations, Risk takers | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting period | 5 years | ||
Bank | Stock compensation plan | Share awards | UK PRA staff or similuar regulations, Senior managemement | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting period | 7 years | ||
Bank | Stock compensation plan | Contingent Capital share awards | |||
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 | 2.7 | ||
Granted (in shares) | 0 | ||
Settled (in shares) | (2.6) | ||
Forfeited (in shares) | 0 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Ending Balance | 0.1 | 0.1 | |
of which vested (in shares) | 0.1 | 0.1 | |
of which unvested (in shares) | 0 | 0 |
Cash-based awards (Details 5)
Cash-based awards (Details 5) SFr in Millions | 6 Months Ended |
Jun. 30, 2019CHF (SFr) | |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |
Estimated unrecognized compensation expense | SFr 1,811 |
Contingent Capital Awards (CCA) | |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |
Estimated unrecognized compensation expense | 288 |
Other Cash Awards | |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |
Estimated unrecognized compensation expense | 307 |
Bank | |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |
Estimated unrecognized compensation expense | SFr 1,726 |
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 6M19, the Bank awarded CHF 289 million of CCA. CCA are scheduled to vest on the third anniversary of the grant date, other than those granted to individuals classified as risk managers or senior managers under the UK PRA Remuneration Code or similar regulations in other jurisdictions, where CCA vest on the fifth and seventh anniversaries of the grant date, respectively, and will be expensed over the vesting period. |
Deferred Compensation Arrangement with Individual, Cash Award Granted, Amount | SFr 289 |
Estimated unrecognized compensation expense | SFr 280 |
Bank | Contingent Capital Awards (CCA) | Cliff vesting [Member] | |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |
Deferred Compensation Arrangement with Individual, Maximum Contractual Term | 3 years |
Bank | Contingent Capital Awards (CCA) | UK PRA staff or similuar regulations, Risk takers | Cliff vesting [Member] | |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |
Deferred Compensation Arrangement with Individual, Maximum Contractual Term | 5 years |
Bank | Contingent Capital Awards (CCA) | UK PRA staff or similuar regulations, Senior managemement | Cliff vesting [Member] | |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |
Deferred Compensation Arrangement with Individual, Maximum Contractual Term | 7 years |
Bank | Other Cash Awards | |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |
Estimated unrecognized compensation expense | SFr 269 |
Other variable compensation (De
Other variable compensation (Details 8) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Mar. 31, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |||||
Compensation expense relating to deferred compensation | SFr 452 | SFr 430 | SFr 370 | SFr 882 | SFr 737 |
Deferred fixed cash awards | |||||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |||||
Deferred Compensation Arrangement with Individual, Cash Award Granted, Amount | 58 | SFr 58 | |||
Compensation expense relating to deferred compensation | SFr 13 | ||||
Deferred fixed cash awards | Cliff vesting [Member] | |||||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |||||
Deferred Compensation Arrangement with Individual, Description | In 2Q19, the Group awarded deferred fixed cash compensation of CHF 58 million to certain employees in the Americas. This compensation will be expensed in the Global Markets division over a three-year period from the grant date. Amortization of this compensation totaled CHF 13 million in 2Q19. | ||||
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 846 | SFr 715 | |||
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 6M19, the Bank awarded deferred fixed cash compensation of CHF 58 million to certain employees in the Americas. This compensation will be expensed in the Global Markets division over a three-year period from the grant date. Amortization of this compensation totaled CHF 13 million in 6M19. | ||||
Deferred Compensation Arrangement with Individual, Maximum Contractual Term | 3 years | ||||
Bank | Deferred fixed cash awards | |||||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |||||
Deferred Compensation Arrangement with Individual, Cash Award Granted, Amount | SFr 58 | SFr 58 | |||
Compensation expense relating to deferred compensation | SFr 13 |
Pension and other post-retire_3
Pension and other post-retirement benefits - Obligation and funded status (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2019 | Mar. 31, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Total benefit costs | ||||||
Service costs on benefit obligation | SFr 68 | SFr 67 | SFr 65 | SFr 135 | SFr 130 | |
Interest costs on benefit obligation | 34 | 46 | 39 | 80 | 78 | |
Expected return on plan assets | (126) | (125) | (150) | (251) | (299) | |
Amortization of recognized prior service cost/(credit) | (41) | (30) | (31) | (71) | (63) | |
Amortization of recognized actuarial losses/(gains) | 80 | 76 | 90 | 156 | 179 | |
Settlement losses/(gains) | 0 | 0 | 0 | 0 | (1) | |
Curtailment losses/(gains) | 0 | 0 | (6) | 0 | (13) | |
Special termination benefits | 2 | 8 | 10 | 10 | 17 | |
Net periodic benefit/(costs) | 17 | 42 | 17 | 59 | 28 | |
PBO | ||||||
Service costs | 68 | 67 | 65 | 135 | 130 | |
Interest costs | 34 | 46 | 39 | 80 | 78 | |
Total amount recognized | ||||||
Noncurrent assets | 2,880 | 1,973 | 2,880 | SFr 1,794 | ||
Pension and Other Postretirement Benefit Contributions | ||||||
Contributions expected to be made by the company by the end of the current fiscal year | 429 | 429 | ||||
Contributions made to defined benefit pension plans and other post-retirement defined benefit plans | 242 | |||||
Defined benefit and defined contribution | ||||||
Total benefit costs | ||||||
Service costs on benefit obligation | 112 | 108 | 108 | 220 | 215 | |
PBO | ||||||
Service costs | 112 | SFr 108 | SFr 108 | 220 | 215 | |
Switzerland | Defined benefit pension plans | ||||||
PBO | ||||||
Plan amendments | 428 | |||||
Bank | ||||||
Total amount recognized | ||||||
Noncurrent assets | SFr 999 | 999 | SFr 1,001 | |||
Bank | Defined benefit and defined contribution | ||||||
Total benefit costs | ||||||
Service costs on benefit obligation | 256 | 278 | ||||
PBO | ||||||
Service costs | 256 | 278 | ||||
Bank | International | ||||||
Total benefit costs | ||||||
Service costs on benefit obligation | 8 | 8 | ||||
Interest costs on benefit obligation | 50 | 47 | ||||
Expected return on plan assets | (55) | (58) | ||||
Amortization of recognized actuarial losses/(gains) | 10 | 26 | ||||
Net periodic benefit/(costs) | 13 | 23 | ||||
PBO | ||||||
Service costs | 8 | 8 | ||||
Interest costs | 50 | SFr 47 | ||||
Pension and Other Postretirement Benefit Contributions | ||||||
Contributions previously expected to be made by the company by the end of the current fiscal year | 29 | |||||
Contributions made to defined benefit pension plans and other post-retirement defined benefit plans | SFr 15 |
Pension and other post-retire_4
Pension and other post-retirement benefits - Contributions (Details 7) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Mar. 31, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Defined Contribution Pension and Other Postretirement Plans Disclosure | |||||
Contributions made by the Entity to defined contribution pension plans | SFr 44 | SFr 41 | SFr 43 | SFr 85 | SFr 85 |
Bank | |||||
Defined Contribution Pension and Other Postretirement Plans Disclosure | |||||
Contributions made by the Entity to defined contribution pension plans | SFr 248 | SFr 270 |
Pension and other post-retire_5
Pension and other post-retirement benefits (Details 11) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Mar. 31, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Actuarial gains/(losses) | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
OCI, before Reclassifications, before Tax, Attributable to Parent | SFr 406 | ||||
OCI, before Reclassifications, Net of Tax, Attributable to Parent | 323 | SFr 0 | SFr 1 | SFr 323 | SFr 11 |
Net prior service credit/ (cost) | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
OCI, before Reclassifications, before Tax, Attributable to Parent | 428 | ||||
OCI, before Reclassifications, Net of Tax, Attributable to Parent | SFr 338 | SFr 0 | SFr 0 | 338 | 0 |
Bank | Actuarial gains/(losses) | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
OCI, before Reclassifications, Net of Tax, Attributable to Parent | 0 | (7) | |||
Bank | Net prior service credit/ (cost) | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
OCI, before Reclassifications, Net of Tax, Attributable to Parent | SFr 0 | SFr 0 |
Derivatives and hedging activ_3
Derivatives and hedging activities - Fair value - balance sheet related (Details) - CHF (SFr) SFr in Billions | 6 Months Ended | |
Jun. 30, 2019 | Dec. 31, 2018 | |
Fair value of derivative instruments | ||
Notional amount | SFr 26,259.3 | SFr 26,329.3 |
Positive replacement value (PRV) | 135.7 | 128.4 |
Negative replacement value (NRV) | SFr 134.2 | 132.5 |
Cash flow hedges | ||
Maximum Length of Time Hedged in Cash Flow Hedge | 1 year | |
Not designated for hedge accounting | ||
Fair value of derivative instruments | ||
Notional amount | SFr 26,145 | 26,212.9 |
Positive replacement value (PRV) | 135.4 | 128.2 |
Negative replacement value (NRV) | 134 | 132.2 |
Not designated for hedge accounting | Interest rate derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 22,901.6 | 23,033.9 |
Positive replacement value (PRV) | 79.9 | 69.9 |
Negative replacement value (NRV) | 73.5 | 66.5 |
Not designated for hedge accounting | Interest rate derivatives | Forwards and forward rate agreements | ||
Fair value of derivative instruments | ||
Notional amount | 8,664.3 | 7,477.7 |
Positive replacement value (PRV) | 2 | 3.6 |
Negative replacement value (NRV) | 1.9 | 3.7 |
Not designated for hedge accounting | Interest rate derivatives | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 11,949.8 | 13,160.7 |
Positive replacement value (PRV) | 56.8 | 49 |
Negative replacement value (NRV) | 51 | 45.4 |
Not designated for hedge accounting | Interest rate derivatives | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 1,749.7 | 2,027.6 |
Positive replacement value (PRV) | 20.7 | 17 |
Negative replacement value (NRV) | 20.2 | 17.1 |
Not designated for hedge accounting | Interest rate derivatives | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 305.3 | 256.8 |
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 | 232.5 | 111.1 |
Positive replacement value (PRV) | 0.4 | 0.3 |
Negative replacement value (NRV) | 0.4 | 0.3 |
Not designated for hedge accounting | Foreign exchange derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 1,833 | 1,906.1 |
Positive replacement value (PRV) | 23.3 | 27.8 |
Negative replacement value (NRV) | 27.9 | 32.2 |
Not designated for hedge accounting | Foreign exchange derivatives | Forwards | ||
Fair value of derivative instruments | ||
Notional amount | 1,080 | 1,124.5 |
Positive replacement value (PRV) | 7.3 | 9.5 |
Negative replacement value (NRV) | 8.2 | 10.5 |
Not designated for hedge accounting | Foreign exchange derivatives | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 426.5 | 456.6 |
Positive replacement value (PRV) | 12.8 | 14.4 |
Negative replacement value (NRV) | 16 | 17.4 |
Not designated for hedge accounting | Foreign exchange derivatives | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 319.1 | 313 |
Positive replacement value (PRV) | 3.2 | 3.9 |
Negative replacement value (NRV) | 3.7 | 4.3 |
Not designated for hedge accounting | Foreign exchange derivatives | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 7 | 10.7 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Not designated for hedge accounting | Foreign exchange derivatives | Options bought and sold (exchange traded) | ||
Fair value of derivative instruments | ||
Notional amount | 0.4 | 1.3 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Not designated for hedge accounting | Credit derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 493.5 | 469.4 |
Positive replacement value (PRV) | 7.1 | 5.4 |
Negative replacement value (NRV) | 8.5 | 6.6 |
Not designated for hedge accounting | Equity/index-related derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 869.9 | 761.1 |
Positive replacement value (PRV) | 23.7 | 23.4 |
Negative replacement value (NRV) | 23.2 | 26.1 |
Not designated for hedge accounting | Equity/index-related derivatives | Forwards | ||
Fair value of derivative instruments | ||
Notional amount | 0.8 | 0.7 |
Positive replacement value (PRV) | 0.1 | 0.2 |
Negative replacement value (NRV) | 0 | 0.1 |
Not designated for hedge accounting | Equity/index-related derivatives | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 162.8 | 152.6 |
Positive replacement value (PRV) | 4.3 | 4 |
Negative replacement value (NRV) | 4.1 | 5.1 |
Not designated for hedge accounting | Equity/index-related derivatives | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 234.5 | 211.9 |
Positive replacement value (PRV) | 8.1 | 7.3 |
Negative replacement value (NRV) | 6.6 | 6.5 |
Not designated for hedge accounting | Equity/index-related derivatives | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 48.8 | 39.2 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Not designated for hedge accounting | Equity/index-related derivatives | Options bought and sold (exchange traded) | ||
Fair value of derivative instruments | ||
Notional amount | 423 | 356.7 |
Positive replacement value (PRV) | 11.2 | 11.9 |
Negative replacement value (NRV) | 12.5 | 14.4 |
Not designated for hedge accounting | Other products | ||
Fair value of derivative instruments | ||
Notional amount | 47 | 42.4 |
Positive replacement value (PRV) | 1.4 | 1.7 |
Negative replacement value (NRV) | 0.9 | 0.8 |
Not designated for hedge accounting | Other products | Forwards | ||
Fair value of derivative instruments | ||
Notional amount | 11.2 | 8.2 |
Positive replacement value (PRV) | 0.2 | 0.1 |
Negative replacement value (NRV) | 0.1 | 0.1 |
Not designated for hedge accounting | Other products | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 11.7 | 13.5 |
Positive replacement value (PRV) | 1 | 1.5 |
Negative replacement value (NRV) | 0.6 | 0.6 |
Not designated for hedge accounting | Other products | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 10.8 | 9.5 |
Positive replacement value (PRV) | 0.2 | 0.1 |
Negative replacement value (NRV) | 0.2 | 0.1 |
Not designated for hedge accounting | Other products | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 11.8 | 9.3 |
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 | 1.5 | 1.9 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | ||
Fair value of derivative instruments | ||
Notional amount | 114.3 | 116.4 |
Positive replacement value (PRV) | 0.3 | 0.2 |
Negative replacement value (NRV) | 0.2 | 0.3 |
Designated for hedge accounting | Interest rate derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 101.8 | 104.4 |
Positive replacement value (PRV) | 0.2 | 0.1 |
Negative replacement value (NRV) | 0.1 | 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 | 101.8 | 104.4 |
Positive replacement value (PRV) | 0.2 | 0.1 |
Negative replacement value (NRV) | 0.1 | 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 | 12.5 | 12 |
Positive replacement value (PRV) | 0.1 | 0.1 |
Negative replacement value (NRV) | 0.1 | 0.1 |
Designated for hedge accounting | Foreign exchange derivatives | Forwards | ||
Fair value of derivative instruments | ||
Notional amount | 12.5 | 12 |
Positive replacement value (PRV) | 0.1 | 0.1 |
Negative replacement value (NRV) | 0.1 | 0.1 |
Designated for hedge accounting | Foreign exchange derivatives | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Foreign exchange derivatives | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Foreign exchange derivatives | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Foreign exchange derivatives | Options bought and sold (exchange traded) | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Credit derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Equity/index-related derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Equity/index-related derivatives | Forwards | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Equity/index-related derivatives | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Equity/index-related derivatives | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Equity/index-related derivatives | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Equity/index-related derivatives | Options bought and sold (exchange traded) | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Other products | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Other products | Forwards | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Other products | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Other products | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Other products | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Designated for hedge accounting | Other products | Options bought and sold (exchange traded) | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | ||
Fair value of derivative instruments | ||
Notional amount | 26,260.3 | 26,331 |
Positive replacement value (PRV) | 135.7 | 128.5 |
Negative replacement value (NRV) | SFr 134.2 | 132.6 |
Cash flow hedges | ||
Maximum Length of Time Hedged in Cash Flow Hedge | 1 year | |
Bank | Not designated for hedge accounting | ||
Fair value of derivative instruments | ||
Notional amount | SFr 26,146 | 26,214.6 |
Positive replacement value (PRV) | 135.4 | 128.3 |
Negative replacement value (NRV) | 134 | 132.3 |
Bank | Not designated for hedge accounting | Interest rate derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 22,902.6 | 23,034.9 |
Positive replacement value (PRV) | 79.9 | 69.9 |
Negative replacement value (NRV) | 73.5 | 66.5 |
Bank | Not designated for hedge accounting | Interest rate derivatives | Forwards and forward rate agreements | ||
Fair value of derivative instruments | ||
Notional amount | 8,664.3 | 7,477.7 |
Positive replacement value (PRV) | 2 | 3.6 |
Negative replacement value (NRV) | 1.9 | 3.7 |
Bank | Not designated for hedge accounting | Interest rate derivatives | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 11,950.8 | 13,161.7 |
Positive replacement value (PRV) | 56.8 | 49 |
Negative replacement value (NRV) | 51 | 45.4 |
Bank | Not designated for hedge accounting | Interest rate derivatives | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 1,749.7 | 2,027.6 |
Positive replacement value (PRV) | 20.7 | 17 |
Negative replacement value (NRV) | 20.2 | 17.1 |
Bank | Not designated for hedge accounting | Interest rate derivatives | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 305.3 | 256.8 |
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 | 232.5 | 111.1 |
Positive replacement value (PRV) | 0.4 | 0.3 |
Negative replacement value (NRV) | 0.4 | 0.3 |
Bank | Not designated for hedge accounting | Foreign exchange derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 1,833 | 1,906.1 |
Positive replacement value (PRV) | 23.3 | 27.8 |
Negative replacement value (NRV) | 27.9 | 32.2 |
Bank | Not designated for hedge accounting | Foreign exchange derivatives | Forwards | ||
Fair value of derivative instruments | ||
Notional amount | 1,080 | 1,124.5 |
Positive replacement value (PRV) | 7.3 | 9.5 |
Negative replacement value (NRV) | 8.2 | 10.5 |
Bank | Not designated for hedge accounting | Foreign exchange derivatives | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 426.5 | 456.6 |
Positive replacement value (PRV) | 12.8 | 14.4 |
Negative replacement value (NRV) | 16 | 17.4 |
Bank | Not designated for hedge accounting | Foreign exchange derivatives | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 319.1 | 313 |
Positive replacement value (PRV) | 3.2 | 3.9 |
Negative replacement value (NRV) | 3.7 | 4.3 |
Bank | Not designated for hedge accounting | Foreign exchange derivatives | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 7 | 10.7 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Not designated for hedge accounting | Foreign exchange derivatives | Options bought and sold (exchange traded) | ||
Fair value of derivative instruments | ||
Notional amount | 0.4 | 1.3 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Not designated for hedge accounting | Credit derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 493.5 | 469.4 |
Positive replacement value (PRV) | 7.1 | 5.4 |
Negative replacement value (NRV) | 8.5 | 6.6 |
Bank | Not designated for hedge accounting | Equity/index-related derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 869.9 | 761.8 |
Positive replacement value (PRV) | 23.7 | 23.5 |
Negative replacement value (NRV) | 23.2 | 26.2 |
Bank | Not designated for hedge accounting | Equity/index-related derivatives | Forwards | ||
Fair value of derivative instruments | ||
Notional amount | 0.8 | 0.7 |
Positive replacement value (PRV) | 0.1 | 0.2 |
Negative replacement value (NRV) | 0 | 0.1 |
Bank | Not designated for hedge accounting | Equity/index-related derivatives | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 162.8 | 152.9 |
Positive replacement value (PRV) | 4.3 | 4.1 |
Negative replacement value (NRV) | 4.1 | 5 |
Bank | Not designated for hedge accounting | Equity/index-related derivatives | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 234.5 | 212.3 |
Positive replacement value (PRV) | 8.1 | 7.3 |
Negative replacement value (NRV) | 6.6 | 6.7 |
Bank | Not designated for hedge accounting | Equity/index-related derivatives | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 48.8 | 39.2 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Not designated for hedge accounting | Equity/index-related derivatives | Options bought and sold (exchange traded) | ||
Fair value of derivative instruments | ||
Notional amount | 423 | 356.7 |
Positive replacement value (PRV) | 11.2 | 11.9 |
Negative replacement value (NRV) | 12.5 | 14.4 |
Bank | Not designated for hedge accounting | Other products | ||
Fair value of derivative instruments | ||
Notional amount | 47 | 42.4 |
Positive replacement value (PRV) | 1.4 | 1.7 |
Negative replacement value (NRV) | 0.9 | 0.8 |
Bank | Not designated for hedge accounting | Other products | Forwards | ||
Fair value of derivative instruments | ||
Notional amount | 11.2 | 8.2 |
Positive replacement value (PRV) | 0.2 | 0.1 |
Negative replacement value (NRV) | 0.1 | 0.1 |
Bank | Not designated for hedge accounting | Other products | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 11.7 | 13.5 |
Positive replacement value (PRV) | 1 | 1.5 |
Negative replacement value (NRV) | 0.6 | 0.6 |
Bank | Not designated for hedge accounting | Other products | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 10.8 | 9.5 |
Positive replacement value (PRV) | 0.2 | 0.1 |
Negative replacement value (NRV) | 0.2 | 0.1 |
Bank | Not designated for hedge accounting | Other products | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 11.8 | 9.3 |
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 | 1.5 | 1.9 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | ||
Fair value of derivative instruments | ||
Notional amount | 114.3 | 116.4 |
Positive replacement value (PRV) | 0.3 | 0.2 |
Negative replacement value (NRV) | 0.2 | 0.3 |
Bank | Designated for hedge accounting | Interest rate derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 101.8 | 104.4 |
Positive replacement value (PRV) | 0.2 | 0.1 |
Negative replacement value (NRV) | 0.1 | 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 | 101.8 | 104.4 |
Positive replacement value (PRV) | 0.2 | 0.1 |
Negative replacement value (NRV) | 0.1 | 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 | 12.5 | 12 |
Positive replacement value (PRV) | 0.1 | 0.1 |
Negative replacement value (NRV) | 0.1 | 0.1 |
Bank | Designated for hedge accounting | Foreign exchange derivatives | Forwards | ||
Fair value of derivative instruments | ||
Notional amount | 12.5 | 12 |
Positive replacement value (PRV) | 0.1 | 0.1 |
Negative replacement value (NRV) | 0.1 | 0.1 |
Bank | Designated for hedge accounting | Foreign exchange derivatives | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Foreign exchange derivatives | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Foreign exchange derivatives | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Foreign exchange derivatives | Options bought and sold (exchange traded) | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Credit derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Equity/index-related derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Equity/index-related derivatives | Forwards | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Equity/index-related derivatives | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Equity/index-related derivatives | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Equity/index-related derivatives | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Equity/index-related derivatives | Options bought and sold (exchange traded) | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Other products | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Other products | Forwards | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Other products | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Other products | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Other products | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Other products | Options bought and sold (exchange traded) | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | SFr 0 | SFr 0 |
Derivatives and hedging activ_4
Derivatives and hedging activities - Movements (Details 2) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Mar. 31, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Fair value hedges | Interest rate derivatives | Interest and dividend income [Member] | |||||
Derivative Instruments, Gain (Loss) | |||||
Hedged items | SFr (991) | SFr (707) | SFr (1,698) | ||
Derivatives designated as hedging instruments | 937 | 643 | 1,580 | ||
Fair value hedges | Interest rate derivatives | Trading Revenue [Member] | |||||
Derivative Instruments, Gain (Loss) | |||||
Hedged items | SFr 100 | SFr 790 | |||
Derivatives designated as hedging instruments | (106) | (755) | |||
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net | (6) | 35 | |||
Cash flow hedges | |||||
Derivative Instruments, Gain (Loss) | |||||
Expected reclassification of net gains/(losses) from AOCI into earnings during the next 12 months | (10) | ||||
Cash flow hedges | Trading Revenue [Member] | |||||
Derivative Instruments, Gain (Loss) | |||||
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net | (1) | (2) | |||
Gain (Loss) from Components Excluded from Assessment of Cash Flow Hedge Effectiveness, Net | (4) | (3) | (7) | ||
Cash flow hedges | Interest rate derivatives | |||||
Derivative Instruments, Gain (Loss) | |||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax | 71 | 49 | (31) | 120 | (92) |
Cash flow hedges | Interest rate derivatives | Interest and dividend income [Member] | |||||
Derivative Instruments, Gain (Loss) | |||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | 1 | 1 | (24) | 2 | (40) |
Cash flow hedges | Foreign exchange derivatives | |||||
Derivative Instruments, Gain (Loss) | |||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax | (10) | 3 | (79) | (7) | (76) |
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | (2) | (4) | (42) | (6) | (42) |
Cash flow hedges | Foreign exchange derivatives | Trading Revenue [Member] | |||||
Derivative Instruments, Gain (Loss) | |||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | 5 | (1) | (40) | 4 | (39) |
Cash flow hedges | Foreign exchange derivatives | Other Expense [Member] | |||||
Derivative Instruments, Gain (Loss) | |||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | (5) | (1) | 0 | (6) | 0 |
Cash flow hedges | Foreign exchange derivatives | Other Income [Member] | |||||
Derivative Instruments, Gain (Loss) | |||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | (2) | (2) | (2) | (4) | (3) |
Net investment hedges | Foreign exchange derivatives | |||||
Derivative Instruments, Gain (Loss) | |||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax | SFr 9 | SFr (130) | SFr 141 | (121) | 158 |
Bank | Fair value hedges | Interest rate derivatives | Interest and dividend income [Member] | |||||
Derivative Instruments, Gain (Loss) | |||||
Hedged items | (1,698) | ||||
Derivatives designated as hedging instruments | 1,580 | ||||
Bank | Fair value hedges | Interest rate derivatives | Trading Revenue [Member] | |||||
Derivative Instruments, Gain (Loss) | |||||
Hedged items | 790 | ||||
Derivatives designated as hedging instruments | (755) | ||||
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net | 35 | ||||
Bank | Cash flow hedges | |||||
Derivative Instruments, Gain (Loss) | |||||
Expected reclassification of net gains/(losses) from AOCI into earnings during the next 12 months | 7 | ||||
Bank | Cash flow hedges | Trading Revenue [Member] | |||||
Derivative Instruments, Gain (Loss) | |||||
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net | (2) | ||||
Gain (Loss) from Components Excluded from Assessment of Cash Flow Hedge Effectiveness, Net | (7) | ||||
Bank | Cash flow hedges | Interest rate derivatives | |||||
Derivative Instruments, Gain (Loss) | |||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax | 120 | (92) | |||
Bank | Cash flow hedges | Interest rate derivatives | Interest and dividend income [Member] | |||||
Derivative Instruments, Gain (Loss) | |||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | 2 | (40) | |||
Bank | Cash flow hedges | Foreign exchange derivatives | |||||
Derivative Instruments, Gain (Loss) | |||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax | (1) | (73) | |||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | (2) | (39) | |||
Bank | Cash flow hedges | Foreign exchange derivatives | Trading Revenue [Member] | |||||
Derivative Instruments, Gain (Loss) | |||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | 4 | (39) | |||
Bank | Cash flow hedges | Foreign exchange derivatives | Other Expense [Member] | |||||
Derivative Instruments, Gain (Loss) | |||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | (6) | 0 | |||
Bank | Net investment hedges | Foreign exchange derivatives | |||||
Derivative Instruments, Gain (Loss) | |||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax | SFr (119) | SFr 158 |
Derivatives and hedging activ_5
Derivatives and hedging activities - Contingent credit risk (Details 3) - CHF (SFr) SFr in Billions | Jun. 30, 2019 | Dec. 31, 2018 |
Contingent credit risk | ||
Current net exposure | SFr 3.5 | SFr 4 |
Collateral posted | 2.9 | 3.5 |
Impact of a one-notch downgrade event | ||
Contingent credit risk | ||
Collateral posted | 0.2 | 0.2 |
Impact of a two-notch downgrade event | ||
Contingent credit risk | ||
Collateral posted | 0.4 | 1 |
Impact of a three-notch downgrade event | ||
Contingent credit risk | ||
Collateral posted | 1.2 | 1.3 |
Bilateral counterparties | ||
Contingent credit risk | ||
Current net exposure | 3.1 | 3.6 |
Collateral posted | 2.8 | 3.4 |
Bilateral counterparties | Impact of a one-notch downgrade event | ||
Contingent credit risk | ||
Collateral posted | 0.1 | 0.2 |
Bilateral counterparties | Impact of a two-notch downgrade event | ||
Contingent credit risk | ||
Collateral posted | 0.3 | 0.9 |
Bilateral counterparties | Impact of a three-notch downgrade event | ||
Contingent credit risk | ||
Collateral posted | 1 | 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 | 0.1 | 0 |
Special purpose entities | Impact of a two-notch downgrade event | ||
Contingent credit risk | ||
Collateral posted | 0.1 | 0 |
Special purpose entities | Impact of a three-notch downgrade event | ||
Contingent credit risk | ||
Collateral posted | 0.1 | 0.1 |
Accelerated terminations | ||
Contingent credit risk | ||
Current net exposure | 0.3 | 0.3 |
Accelerated terminations | Impact of a one-notch downgrade event | ||
Contingent credit risk | ||
Collateral posted | 0 | 0 |
Accelerated terminations | Impact of a two-notch downgrade event | ||
Contingent credit risk | ||
Collateral posted | 0 | 0.1 |
Accelerated terminations | Impact of a three-notch downgrade event | ||
Contingent credit risk | ||
Collateral posted | 0.1 | 0.2 |
Bank | ||
Contingent credit risk | ||
Current net exposure | 3.5 | 4 |
Collateral posted | 2.9 | 3.5 |
Bank | Impact of a one-notch downgrade event | ||
Contingent credit risk | ||
Collateral posted | 0.2 | 0.2 |
Bank | Impact of a two-notch downgrade event | ||
Contingent credit risk | ||
Collateral posted | 0.4 | 1 |
Bank | Impact of a three-notch downgrade event | ||
Contingent credit risk | ||
Collateral posted | 1.2 | 1.3 |
Bank | Bilateral counterparties | ||
Contingent credit risk | ||
Current net exposure | 3.1 | 3.6 |
Collateral posted | 2.8 | 3.4 |
Bank | Bilateral counterparties | Impact of a one-notch downgrade event | ||
Contingent credit risk | ||
Collateral posted | 0.1 | 0.2 |
Bank | Bilateral counterparties | Impact of a two-notch downgrade event | ||
Contingent credit risk | ||
Collateral posted | 0.3 | 0.9 |
Bank | Bilateral counterparties | Impact of a three-notch downgrade event | ||
Contingent credit risk | ||
Collateral posted | 1 | 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 | 0.1 | 0 |
Bank | Special purpose entities | Impact of a two-notch downgrade event | ||
Contingent credit risk | ||
Collateral posted | 0.1 | 0 |
Bank | Special purpose entities | Impact of a three-notch downgrade event | ||
Contingent credit risk | ||
Collateral posted | 0.1 | 0.1 |
Bank | Accelerated terminations | ||
Contingent credit risk | ||
Current net exposure | 0.3 | 0.3 |
Bank | Accelerated terminations | Impact of a one-notch downgrade event | ||
Contingent credit risk | ||
Collateral posted | 0 | 0 |
Bank | Accelerated terminations | Impact of a two-notch downgrade event | ||
Contingent credit risk | ||
Collateral posted | 0 | 0.1 |
Bank | Accelerated terminations | Impact of a three-notch downgrade event | ||
Contingent credit risk | ||
Collateral posted | SFr 0.1 | SFr 0.2 |
Derivatives and hedging activ_6
Derivatives and hedging activities - Credit protection sold/purchased (Details 4) - CHF (SFr) SFr in Billions | 3 Months Ended | 6 Months Ended |
Dec. 31, 2018 | Jun. 30, 2019 | |
Credit protection sold/purchased | ||
Credit protection sold | SFr (201.6) | SFr (211.3) |
Credit protection purchased | 195.1 | 198.4 |
Net credit protection (sold)/purchased | (6.5) | (12.9) |
Other protection purchased | 63 | 74.3 |
Fair value of credit protection sold | (0.7) | 1.7 |
Total return swaps | ||
Credit protection sold/purchased | ||
Credit protection sold | (9.7) | (9.5) |
Maturity less than 1 year | ||
Credit protection sold/purchased | ||
Credit protection sold | (41.9) | (44.1) |
Maturity between 1 to 5 years | ||
Credit protection sold/purchased | ||
Credit protection sold | (135.5) | (143.6) |
Maturity greater than 5 years | ||
Credit protection sold/purchased | ||
Credit protection sold | (24.2) | (23.6) |
Government debt securities | ||
Credit protection sold/purchased | ||
Credit protection sold | (16.6) | (16.8) |
Credit protection purchased | 15.2 | 14.6 |
Net credit protection (sold)/purchased | (1.4) | (2.2) |
Other protection purchased | 5.5 | 4.6 |
Fair value of credit protection sold | (0.1) | 0 |
Non-sovereigns | ||
Credit protection sold/purchased | ||
Credit protection sold | (185) | (194.5) |
Credit protection purchased | 179.9 | 183.8 |
Net credit protection (sold)/purchased | (5.1) | (10.7) |
Other protection purchased | 57.5 | 69.7 |
Fair value of credit protection sold | (0.6) | 1.7 |
Investment grade | ||
Credit protection sold/purchased | ||
Credit protection sold | (148.9) | (152.7) |
Credit protection purchased | 145.5 | 144.9 |
Net credit protection (sold)/purchased | (3.4) | (7.8) |
Other protection purchased | 36.9 | 45.2 |
Fair value of credit protection sold | (0.6) | 0.7 |
Non-investment grade | ||
Credit protection sold/purchased | ||
Credit protection sold | (52.7) | (58.6) |
Credit protection purchased | 49.6 | 53.5 |
Net credit protection (sold)/purchased | (3.1) | (5.1) |
Other protection purchased | 26.1 | 29.1 |
Fair value of credit protection sold | (0.1) | 1 |
Single-name instruments | ||
Credit protection sold/purchased | ||
Credit protection sold | (72.2) | (81.5) |
Credit protection purchased | 67.4 | 74.4 |
Net credit protection (sold)/purchased | (4.8) | (7.1) |
Other protection purchased | 29.5 | 30.8 |
Fair value of credit protection sold | 0 | 0.5 |
Single-name instruments | Maturity less than 1 year | ||
Credit protection sold/purchased | ||
Credit protection sold | (13.1) | (15.7) |
Single-name instruments | Maturity between 1 to 5 years | ||
Credit protection sold/purchased | ||
Credit protection sold | (54.9) | (60.9) |
Single-name instruments | Maturity greater than 5 years | ||
Credit protection sold/purchased | ||
Credit protection sold | (4.2) | (4.9) |
Single-name instruments | Government debt securities | ||
Credit protection sold/purchased | ||
Credit protection sold | (16.4) | (16.6) |
Credit protection purchased | 15 | 14.4 |
Net credit protection (sold)/purchased | (1.4) | (2.2) |
Other protection purchased | 5.5 | 4.6 |
Fair value of credit protection sold | (0.1) | 0 |
Single-name instruments | Non-sovereigns | ||
Credit protection sold/purchased | ||
Credit protection sold | (55.8) | (64.9) |
Credit protection purchased | 52.4 | 60 |
Net credit protection (sold)/purchased | (3.4) | (4.9) |
Other protection purchased | 24 | 26.2 |
Fair value of credit protection sold | 0.1 | 0.5 |
Single-name instruments | Investment grade | ||
Credit protection sold/purchased | ||
Credit protection sold | (46) | (50.7) |
Credit protection purchased | 43.1 | 46.5 |
Net credit protection (sold)/purchased | (2.9) | (4.2) |
Other protection purchased | 11.8 | 10.3 |
Fair value of credit protection sold | 0.2 | 0.4 |
Single-name instruments | Non-investment grade | ||
Credit protection sold/purchased | ||
Credit protection sold | (26.2) | (30.8) |
Credit protection purchased | 24.3 | 27.9 |
Net credit protection (sold)/purchased | (1.9) | (2.9) |
Other protection purchased | 17.7 | 20.5 |
Fair value of credit protection sold | (0.2) | 0.1 |
Multi-name instruments | ||
Credit protection sold/purchased | ||
Credit protection sold | (129.4) | (129.8) |
Credit protection purchased | 127.7 | 124 |
Net credit protection (sold)/purchased | (1.7) | (5.8) |
Other protection purchased | 33.5 | 43.5 |
Fair value of credit protection sold | (0.7) | 1.2 |
Multi-name instruments | Maturity less than 1 year | ||
Credit protection sold/purchased | ||
Credit protection sold | (28.8) | (28.4) |
Multi-name instruments | Maturity between 1 to 5 years | ||
Credit protection sold/purchased | ||
Credit protection sold | (80.6) | (82.7) |
Multi-name instruments | Maturity greater than 5 years | ||
Credit protection sold/purchased | ||
Credit protection sold | (20) | (18.7) |
Multi-name instruments | Government debt securities | ||
Credit protection sold/purchased | ||
Credit protection sold | (0.2) | (0.2) |
Credit protection purchased | 0.2 | 0.2 |
Net credit protection (sold)/purchased | 0 | 0 |
Other protection purchased | 0 | 0 |
Fair value of credit protection sold | 0 | 0 |
Multi-name instruments | Non-sovereigns | ||
Credit protection sold/purchased | ||
Credit protection sold | (129.2) | (129.6) |
Credit protection purchased | 127.5 | 123.8 |
Net credit protection (sold)/purchased | (1.7) | (5.8) |
Other protection purchased | 33.5 | 43.5 |
Fair value of credit protection sold | (0.7) | 1.2 |
Multi-name instruments | Investment grade | ||
Credit protection sold/purchased | ||
Credit protection sold | (102.9) | (102) |
Credit protection purchased | 102.4 | 98.4 |
Net credit protection (sold)/purchased | (0.5) | (3.6) |
Other protection purchased | 25.1 | 34.9 |
Fair value of credit protection sold | (0.8) | 0.3 |
Multi-name instruments | Non-investment grade | ||
Credit protection sold/purchased | ||
Credit protection sold | (26.5) | (27.8) |
Credit protection purchased | 25.3 | 25.6 |
Net credit protection (sold)/purchased | (1.2) | (2.2) |
Other protection purchased | 8.4 | 8.6 |
Fair value of credit protection sold | 0.1 | 0.9 |
Bank | ||
Credit protection sold/purchased | ||
Credit protection sold | (201.6) | (211.3) |
Credit protection purchased | 195.1 | 198.4 |
Net credit protection (sold)/purchased | (6.5) | (12.9) |
Other protection purchased | 63 | 74.3 |
Fair value of credit protection sold | (0.7) | 1.7 |
Bank | Total return swaps | ||
Credit protection sold/purchased | ||
Credit protection sold | (9.7) | (9.5) |
Bank | Maturity less than 1 year | ||
Credit protection sold/purchased | ||
Credit protection sold | (41.9) | (44.1) |
Bank | Maturity between 1 to 5 years | ||
Credit protection sold/purchased | ||
Credit protection sold | (135.5) | (143.6) |
Bank | Maturity greater than 5 years | ||
Credit protection sold/purchased | ||
Credit protection sold | (24.2) | (23.6) |
Bank | Government debt securities | ||
Credit protection sold/purchased | ||
Credit protection sold | (16.6) | (16.8) |
Credit protection purchased | 15.2 | 14.6 |
Net credit protection (sold)/purchased | (1.4) | (2.2) |
Other protection purchased | 5.5 | 4.6 |
Fair value of credit protection sold | (0.1) | 0 |
Bank | Non-sovereigns | ||
Credit protection sold/purchased | ||
Credit protection sold | (185) | (194.5) |
Credit protection purchased | 179.9 | 183.8 |
Net credit protection (sold)/purchased | (5.1) | (10.7) |
Other protection purchased | 57.5 | 69.7 |
Fair value of credit protection sold | (0.6) | 1.7 |
Bank | Investment grade | ||
Credit protection sold/purchased | ||
Credit protection sold | (148.9) | (152.7) |
Credit protection purchased | 145.5 | 144.9 |
Net credit protection (sold)/purchased | (3.4) | (7.8) |
Other protection purchased | 36.9 | 45.2 |
Fair value of credit protection sold | (0.6) | 0.7 |
Bank | Non-investment grade | ||
Credit protection sold/purchased | ||
Credit protection sold | (52.7) | (58.6) |
Credit protection purchased | 49.6 | 53.5 |
Net credit protection (sold)/purchased | (3.1) | (5.1) |
Other protection purchased | 26.1 | 29.1 |
Fair value of credit protection sold | (0.1) | 1 |
Bank | Single-name instruments | ||
Credit protection sold/purchased | ||
Credit protection sold | (72.2) | (81.5) |
Credit protection purchased | 67.4 | 74.4 |
Net credit protection (sold)/purchased | (4.8) | (7.1) |
Other protection purchased | 29.5 | 30.8 |
Fair value of credit protection sold | 0 | 0.5 |
Bank | Single-name instruments | Maturity less than 1 year | ||
Credit protection sold/purchased | ||
Credit protection sold | (13.1) | (15.7) |
Bank | Single-name instruments | Maturity between 1 to 5 years | ||
Credit protection sold/purchased | ||
Credit protection sold | (54.9) | (60.9) |
Bank | Single-name instruments | Maturity greater than 5 years | ||
Credit protection sold/purchased | ||
Credit protection sold | (4.2) | (4.9) |
Bank | Single-name instruments | Government debt securities | ||
Credit protection sold/purchased | ||
Credit protection sold | (16.4) | (16.6) |
Credit protection purchased | 15 | 14.4 |
Net credit protection (sold)/purchased | (1.4) | (2.2) |
Other protection purchased | 5.5 | 4.6 |
Fair value of credit protection sold | (0.1) | 0 |
Bank | Single-name instruments | Non-sovereigns | ||
Credit protection sold/purchased | ||
Credit protection sold | (55.8) | (64.9) |
Credit protection purchased | 52.4 | 60 |
Net credit protection (sold)/purchased | (3.4) | (4.9) |
Other protection purchased | 24 | 26.2 |
Fair value of credit protection sold | 0.1 | 0.5 |
Bank | Single-name instruments | Investment grade | ||
Credit protection sold/purchased | ||
Credit protection sold | (46) | (50.7) |
Credit protection purchased | 43.1 | 46.5 |
Net credit protection (sold)/purchased | (2.9) | (4.2) |
Other protection purchased | 11.8 | 10.3 |
Fair value of credit protection sold | 0.2 | 0.4 |
Bank | Single-name instruments | Non-investment grade | ||
Credit protection sold/purchased | ||
Credit protection sold | (26.2) | (30.8) |
Credit protection purchased | 24.3 | 27.9 |
Net credit protection (sold)/purchased | (1.9) | (2.9) |
Other protection purchased | 17.7 | 20.5 |
Fair value of credit protection sold | (0.2) | 0.1 |
Bank | Multi-name instruments | ||
Credit protection sold/purchased | ||
Credit protection sold | (129.4) | (129.8) |
Credit protection purchased | 127.7 | 124 |
Net credit protection (sold)/purchased | (1.7) | (5.8) |
Other protection purchased | 33.5 | 43.5 |
Fair value of credit protection sold | (0.7) | 1.2 |
Bank | Multi-name instruments | Maturity less than 1 year | ||
Credit protection sold/purchased | ||
Credit protection sold | (28.8) | (28.4) |
Bank | Multi-name instruments | Maturity between 1 to 5 years | ||
Credit protection sold/purchased | ||
Credit protection sold | (80.6) | (82.7) |
Bank | Multi-name instruments | Maturity greater than 5 years | ||
Credit protection sold/purchased | ||
Credit protection sold | (20) | (18.7) |
Bank | Multi-name instruments | Government debt securities | ||
Credit protection sold/purchased | ||
Credit protection sold | (0.2) | (0.2) |
Credit protection purchased | 0.2 | 0.2 |
Net credit protection (sold)/purchased | 0 | 0 |
Other protection purchased | 0 | 0 |
Fair value of credit protection sold | 0 | 0 |
Bank | Multi-name instruments | Non-sovereigns | ||
Credit protection sold/purchased | ||
Credit protection sold | (129.2) | (129.6) |
Credit protection purchased | 127.5 | 123.8 |
Net credit protection (sold)/purchased | (1.7) | (5.8) |
Other protection purchased | 33.5 | 43.5 |
Fair value of credit protection sold | (0.7) | 1.2 |
Bank | Multi-name instruments | Investment grade | ||
Credit protection sold/purchased | ||
Credit protection sold | (102.9) | (102) |
Credit protection purchased | 102.4 | 98.4 |
Net credit protection (sold)/purchased | (0.5) | (3.6) |
Other protection purchased | 25.1 | 34.9 |
Fair value of credit protection sold | (0.8) | 0.3 |
Bank | Multi-name instruments | Non-investment grade | ||
Credit protection sold/purchased | ||
Credit protection sold | (26.5) | (27.8) |
Credit protection purchased | 25.3 | 25.6 |
Net credit protection (sold)/purchased | (1.2) | (2.2) |
Other protection purchased | 8.4 | 8.6 |
Fair value of credit protection sold | SFr 0.1 | SFr 0.9 |
Derivatives and hedging activ_7
Derivatives and hedging activities - Credit derivatives (Details 5) - CHF (SFr) SFr in Billions | 3 Months Ended | 6 Months Ended |
Dec. 31, 2018 | Jun. 30, 2019 | |
Credit Derivatives [Line Items] | ||
Credit protection sold | SFr 201.6 | SFr 211.3 |
Credit protection purchased | 195.1 | 198.4 |
Other protection purchased | 63 | 74.3 |
Other instruments | 9.7 | 9.5 |
Total credit derivatives | 469.4 | 493.5 |
Bank | ||
Credit Derivatives [Line Items] | ||
Credit protection sold | 201.6 | 211.3 |
Credit protection purchased | 195.1 | 198.4 |
Other protection purchased | 63 | 74.3 |
Other instruments | 9.7 | 9.5 |
Total credit derivatives | SFr 469.4 | SFr 493.5 |
Derivatives and hedging activ_8
Derivatives and hedging activities (Details 6) SFr in Billions | Jun. 30, 2019CHF (SFr) |
Hedged items in fair value hedges [Line items] | |
Hedged Asset, Fair Value Hedge | SFr 15.6 |
Hedged Liability, Fair Value Hedge | 70.3 |
Hedged Asset, Fair Value Hedge, Cumulative Increase (Decrease) | 0.4 |
Hedged Liability, Fair Value Hedge, Cumulative Increase (Decrease) | 1.8 |
Hedged Asset, Discontinued Fair Value Hedge, Cumulative Increase (Decrease) | 0.8 |
Hedged Liability, Discontinued Fair Value Hedge, Cumulative Increase (Decrease) | (0.1) |
Bank | |
Hedged items in fair value hedges [Line items] | |
Hedged Asset, Fair Value Hedge | 15.6 |
Hedged Liability, Fair Value Hedge | 70.3 |
Hedged Asset, Fair Value Hedge, Cumulative Increase (Decrease) | 0.4 |
Hedged Liability, Fair Value Hedge, Cumulative Increase (Decrease) | 1.8 |
Hedged Asset, Discontinued Fair Value Hedge, Cumulative Increase (Decrease) | 0.8 |
Hedged Liability, Discontinued Fair Value Hedge, Cumulative Increase (Decrease) | SFr (0.1) |
Guarantees and commitments - Gu
Guarantees and commitments - Guarantees maturity (Details) - CHF (SFr) SFr in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Guarantees | ||
Maturity less than 1 year | SFr 24,451 | SFr 29,155 |
Maturity greater than 1 year | 12,326 | 11,782 |
Total gross amount | 36,777 | 40,937 |
Total net amount | 35,763 | 39,909 |
Carrying value | 524 | 1,033 |
Collateral received | 8,599 | 9,070 |
Credit guarantees and similar instruments | ||
Guarantees | ||
Maturity less than 1 year | 2,455 | 2,228 |
Maturity greater than 1 year | 893 | 1,055 |
Total gross amount | 3,348 | 3,283 |
Total net amount | 3,235 | 3,194 |
Carrying value | 12 | 14 |
Collateral received | 1,650 | 1,748 |
Performance guarantees and similar instruments | ||
Guarantees | ||
Maturity less than 1 year | 5,030 | 5,008 |
Maturity greater than 1 year | 1,967 | 2,136 |
Total gross amount | 6,997 | 7,144 |
Total net amount | 6,169 | 6,278 |
Carrying value | 32 | 44 |
Collateral received | 2,847 | 3,153 |
Derivatives | ||
Guarantees | ||
Maturity less than 1 year | 12,160 | 17,594 |
Maturity greater than 1 year | 7,668 | 6,029 |
Total gross amount | 19,828 | 23,623 |
Total net amount | 19,828 | 23,623 |
Carrying value | 418 | 919 |
Other guarantees | ||
Guarantees | ||
Maturity less than 1 year | 4,806 | 4,325 |
Maturity greater than 1 year | 1,798 | 2,562 |
Total gross amount | 6,604 | 6,887 |
Total net amount | 6,531 | 6,814 |
Carrying value | 62 | 56 |
Collateral received | 4,102 | 4,169 |
Bank | ||
Guarantees | ||
Maturity less than 1 year | 24,451 | 29,156 |
Maturity greater than 1 year | 12,330 | 11,786 |
Total gross amount | 36,781 | 40,942 |
Total net amount | 35,767 | 39,914 |
Carrying value | 524 | 1,033 |
Collateral received | 8,599 | 9,074 |
Bank | Credit guarantees and similar instruments | ||
Guarantees | ||
Maturity less than 1 year | 2,455 | 2,229 |
Maturity greater than 1 year | 897 | 1,059 |
Total gross amount | 3,352 | 3,288 |
Total net amount | 3,239 | 3,199 |
Carrying value | 12 | 14 |
Collateral received | 1,650 | 1,752 |
Bank | Performance guarantees and similar instruments | ||
Guarantees | ||
Maturity less than 1 year | 5,030 | 5,008 |
Maturity greater than 1 year | 1,967 | 2,136 |
Total gross amount | 6,997 | 7,144 |
Total net amount | 6,169 | 6,278 |
Carrying value | 32 | 44 |
Collateral received | 2,847 | 3,153 |
Bank | Derivatives | ||
Guarantees | ||
Maturity less than 1 year | 12,160 | 17,594 |
Maturity greater than 1 year | 7,668 | 6,029 |
Total gross amount | 19,828 | 23,623 |
Total net amount | 19,828 | 23,623 |
Carrying value | 418 | 919 |
Bank | Other guarantees | ||
Guarantees | ||
Maturity less than 1 year | 4,806 | 4,325 |
Maturity greater than 1 year | 1,798 | 2,562 |
Total gross amount | 6,604 | 6,887 |
Total net amount | 6,531 | 6,814 |
Carrying value | 62 | 56 |
Collateral received | SFr 4,102 | SFr 4,169 |
Guarantees and commitments - Ot
Guarantees and commitments - Other guarantees (Details 2) - CHF (SFr) SFr in Billions | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2019 | 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 - _2
Guarantees and commitments - Other commitments maturity (Details 7) - CHF (SFr) SFr in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Other commitments | ||
Maturity less than 1 year | SFr 33,983 | SFr 32,298 |
Maturity greater than 1 year | 93,576 | 89,536 |
Total gross amount | 127,559 | 121,834 |
Total net amount | 122,278 | 117,567 |
Collateral received | 64,589 | 60,839 |
Unused revocable credit limits | 121,484 | 113,580 |
Irrevocable commitments under documentary credits | ||
Other commitments | ||
Maturity less than 1 year | 4,015 | 5,056 |
Maturity greater than 1 year | 167 | 182 |
Total gross amount | 4,182 | 5,238 |
Total net amount | 4,097 | 5,077 |
Collateral received | 2,926 | 3,651 |
Loan commitments | ||
Other commitments | ||
Maturity less than 1 year | 29,424 | 26,882 |
Maturity greater than 1 year | 93,285 | 89,191 |
Total gross amount | 122,709 | 116,073 |
Total net amount | 117,513 | 111,967 |
Collateral received | 61,530 | 57,153 |
Forward reverse repurchase agreements | ||
Other commitments | ||
Maturity less than 1 year | 133 | 31 |
Maturity greater than 1 year | 0 | 0 |
Total gross amount | 133 | 31 |
Total net amount | 133 | 31 |
Collateral received | 133 | 31 |
Other commitments | ||
Other commitments | ||
Maturity less than 1 year | 411 | 329 |
Maturity greater than 1 year | 124 | 163 |
Total gross amount | 535 | 492 |
Total net amount | 535 | 492 |
Collateral received | 0 | 4 |
Bank | ||
Other commitments | ||
Maturity less than 1 year | 33,983 | 32,298 |
Maturity greater than 1 year | 93,576 | 89,536 |
Total gross amount | 127,559 | 121,834 |
Total net amount | 122,278 | 117,567 |
Collateral received | 64,589 | 60,839 |
Bank | Irrevocable commitments under documentary credits | ||
Other commitments | ||
Maturity less than 1 year | 4,015 | 5,056 |
Maturity greater than 1 year | 167 | 182 |
Total gross amount | 4,182 | 5,238 |
Total net amount | 4,097 | 5,077 |
Collateral received | 2,926 | 3,651 |
Bank | Loan commitments | ||
Other commitments | ||
Maturity less than 1 year | 29,424 | 26,882 |
Maturity greater than 1 year | 93,285 | 89,191 |
Total gross amount | 122,709 | 116,073 |
Total net amount | 117,513 | 111,967 |
Collateral received | 61,530 | 57,153 |
Unused revocable credit limits | 121,485 | 113,593 |
Bank | Forward reverse repurchase agreements | ||
Other commitments | ||
Maturity less than 1 year | 133 | 31 |
Maturity greater than 1 year | 0 | 0 |
Total gross amount | 133 | 31 |
Total net amount | 133 | 31 |
Collateral received | 133 | 31 |
Bank | Other commitments | ||
Other commitments | ||
Maturity less than 1 year | 411 | 329 |
Maturity greater than 1 year | 124 | 163 |
Total gross amount | 535 | 492 |
Total net amount | 535 | 492 |
Collateral received | SFr 0 | SFr 4 |
Transfers of financial assets (
Transfers of financial assets (TFA) - Securitizations (Details) - CHF (SFr) SFr in Millions | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
CMBS | ||
Transfers of financial assets disclosures | ||
Net gain/(loss) | SFr (1) | SFr 7 |
Proceeds from transfer of assets | 3,632 | 3,568 |
Cash received on interests that continue to be held | 19 | 23 |
RMBS | ||
Transfers of financial assets disclosures | ||
Net gain/(loss) | (4) | (4) |
Proceeds from transfer of assets | 8,045 | 16,765 |
Purchases of previously transferred financial assets or their underlying collateral | (1) | (1) |
Servicing fees | 1 | 1 |
Cash received on interests that continue to be held | 116 | 406 |
Other asset-backed financings | ||
Transfers of financial assets disclosures | ||
Net gain/(loss) | 48 | 58 |
Proceeds from transfer of assets | 4,801 | 3,950 |
Purchases of previously transferred financial assets or their underlying collateral | (389) | (232) |
Servicing fees | 74 | 67 |
Cash received on interests that continue to be held | 3 | 1 |
Bank | CMBS | ||
Transfers of financial assets disclosures | ||
Net gain/(loss) | (1) | 7 |
Proceeds from transfer of assets | 3,632 | 3,568 |
Cash received on interests that continue to be held | 19 | 23 |
Bank | RMBS | ||
Transfers of financial assets disclosures | ||
Net gain/(loss) | (4) | (4) |
Proceeds from transfer of assets | 8,045 | 16,765 |
Purchases of previously transferred financial assets or their underlying collateral | (1) | (1) |
Servicing fees | 1 | 1 |
Cash received on interests that continue to be held | 116 | 406 |
Bank | Other asset-backed financings | ||
Transfers of financial assets disclosures | ||
Net gain/(loss) | 48 | 58 |
Proceeds from transfer of assets | 4,801 | 3,950 |
Purchases of previously transferred financial assets or their underlying collateral | (389) | (232) |
Servicing fees | 74 | 67 |
Cash received on interests that continue to be held | SFr 3 | SFr 1 |
TFA - Principal amounts outstan
TFA - Principal amounts outstanding / total assets - continuing involvement (Details 2) - CHF (SFr) SFr in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
CMBS | ||
Principal amounts outstanding and total assets of SPEs resulting from continuing involvement | ||
Principal amount outstanding | SFr 21,607 | SFr 25,330 |
Total assets of SPE | 31,491 | 35,760 |
RMBS | ||
Principal amounts outstanding and total assets of SPEs resulting from continuing involvement | ||
Principal amount outstanding | 48,923 | 40,253 |
Total assets of SPE | 49,857 | 41,242 |
Other asset-backed financings | ||
Principal amounts outstanding and total assets of SPEs resulting from continuing involvement | ||
Principal amount outstanding | 22,782 | 23,036 |
Total assets of SPE | 47,272 | 47,542 |
Bank | CMBS | ||
Principal amounts outstanding and total assets of SPEs resulting from continuing involvement | ||
Principal amount outstanding | 21,607 | 25,330 |
Total assets of SPE | 31,491 | 35,760 |
Bank | RMBS | ||
Principal amounts outstanding and total assets of SPEs resulting from continuing involvement | ||
Principal amount outstanding | 48,923 | 40,253 |
Total assets of SPE | 49,857 | 41,242 |
Bank | Other asset-backed financings | ||
Principal amounts outstanding and total assets of SPEs resulting from continuing involvement | ||
Principal amount outstanding | 22,782 | 23,036 |
Total assets of SPE | SFr 47,272 | SFr 47,542 |
TFA - Key economic assumptions
TFA - Key economic assumptions at time of transfer (Details 3) - CHF (SFr) SFr in Millions | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
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 281 | SFr 463 | |
Weighted-average life, in years | 4 years 1 month 6 days | 5 years 8 months 12 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) | 2.50% | 3.60% | |
Expected credit losses (rate per annum), in % (as a percent) | 1.30% | 1.80% | |
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) | 8.30% | 9.80% | |
Expected credit losses (rate per annum), in % (as a percent) | 5.80% | 1.80% | |
CMBS | Level 2 | |||
Key economic assumptions used in measuring fair value at time of transfer | |||
Fair value of beneficial interests at time of transfer | SFr 264 | 463 | |
CMBS | Level 3 | |||
Key economic assumptions used in measuring fair value at time of transfer | |||
Fair value of beneficial interests at time of transfer | 17 | 0 | |
RMBS | |||
Key economic assumptions used in measuring fair value at time of transfer | |||
Fair value of beneficial interests at time of transfer | SFr 885 | 2,626 | |
Weighted-average life, in years | 4 years 8 months 12 days | 7 years 7 months 6 days | |
RMBS | Minimum | |||
Key economic assumptions used in measuring fair value at time of transfer | |||
Prepayment speed assumption (rate per annum) in % (as a percent) | 2.00% | 5.50% | |
Cash flow discount rate (rate per annum), in % (as a percent) | 2.30% | 3.00% | |
Expected credit losses (rate per annum), in % (as a percent) | 1.70% | 2.80% | |
RMBS | Maximum | |||
Key economic assumptions used in measuring fair value at time of transfer | |||
Prepayment speed assumption (rate per annum) in % (as a percent) | 37.30% | 13.50% | |
Cash flow discount rate (rate per annum), in % (as a percent) | 11.60% | 13.20% | |
Expected credit losses (rate per annum), in % (as a percent) | 3.40% | 5.50% | |
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 826 | 2,542 | |
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 59 | 84 | |
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 281 | 463 | |
Weighted-average life, in years | 4 years 1 month 6 days | 5 years 8 months 12 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) | 2.50% | 3.60% | |
Expected credit losses (rate per annum), in % (as a percent) | 1.30% | 1.80% | |
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) | 8.30% | 9.80% | |
Expected credit losses (rate per annum), in % (as a percent) | 5.80% | 1.80% | |
Bank | CMBS | Level 2 | |||
Key economic assumptions used in measuring fair value at time of transfer | |||
Fair value of beneficial interests at time of transfer | SFr 264 | 463 | |
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 | 17 | 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 885 | 2,626 | |
Weighted-average life, in years | 4 years 8 months 12 days | 7 years 7 months 6 days | |
Bank | RMBS | Minimum | |||
Key economic assumptions used in measuring fair value at time of transfer | |||
Prepayment speed assumption (rate per annum) in % (as a percent) | 2.00% | 5.50% | |
Cash flow discount rate (rate per annum), in % (as a percent) | 2.30% | 3.00% | |
Expected credit losses (rate per annum), in % (as a percent) | 1.70% | 2.80% | |
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) | 37.30% | 13.50% | |
Cash flow discount rate (rate per annum), in % (as a percent) | 11.60% | 13.20% | |
Expected credit losses (rate per annum), in % (as a percent) | 3.40% | 5.50% | |
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 826 | 2,542 | |
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 59 | SFr 84 |
TFA - Key economic assumption_2
TFA - Key economic assumptions at balance sheet date (Details 4) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |
Dec. 31, 2018 | Jun. 30, 2019 | Dec. 31, 2018 | |
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 805 | SFr 583 | SFr 805 |
Weighted-average life, in years | 5 years 8 months 12 days | 3 years 8 months 12 days | |
Impact on fair value from 10% adverse change in cash flow discount rate | SFr (20.7) | SFr (8.1) | (20.7) |
Impact on fair value from 20% adverse change in cash flow discount rate | (37.6) | (15.8) | (37.6) |
Impact on fair value from 10% adverse change in expected credit losses | (10.2) | (4.9) | (10.2) |
Impact on fair value from 20% adverse change in expected credit losses | SFr (17.3) | SFr (9.7) | (17.3) |
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) | 3.40% | 2.40% | |
Expected credit losses rate (rate per annum), in % (as a percent) | 0.80% | 0.50% | |
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) | 14.30% | 23.60% | |
Expected credit losses rate (rate per annum), in % (as a percent) | 4.70% | 5.80% | |
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 112 | SFr 176 | 112 |
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 2,006 | SFr 1,439 | 2,006 |
Weighted-average life, in years | 7 years 10 months 24 days | 5 years | |
Impact on fair value from 10% adverse change in prepayment speed | SFr (22.3) | SFr (25.5) | (22.3) |
Impact on fair value from 20% adverse change in prepayment speed | (43.2) | (49.1) | (43.2) |
Impact on fair value from 10% adverse change in cash flow discount rate | (52.1) | (23.8) | (52.1) |
Impact on fair value from 20% adverse change in cash flow discount rate | (101.3) | (46.5) | (101.3) |
Impact on fair value from 10% adverse change in expected credit losses | (23.8) | (14.1) | (23.8) |
Impact on fair value from 20% adverse change in expected credit losses | SFr (46.7) | SFr (27.6) | (46.7) |
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) | 2.00% | 3.00% | |
Cash flow discount rate per annum, in % (as a percent) | 3.00% | 2.00% | |
Expected credit losses rate (rate per annum), in % (as a percent) | 0.60% | 1.00% | |
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% | 37.30% | |
Cash flow discount rate per annum, in % (as a percent) | 21.30% | 30.50% | |
Expected credit losses rate (rate per annum), in % (as a percent) | 18.80% | 28.70% | |
RMBS | Non-investment grade | |||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | |||
Fair value of beneficial interests held in SPEs | SFr 307 | SFr 209 | 307 |
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 226 | SFr 1,154 | 226 |
Weighted-average life, in years | 5 years 7 months 6 days | 1 year 8 months 12 days | |
Impact on fair value from 10% adverse change in cash flow discount rate | SFr (2.9) | SFr (4.2) | (2.9) |
Impact on fair value from 20% adverse change in cash flow discount rate | (5.7) | (9.4) | (5.7) |
Impact on fair value from 10% adverse change in expected credit losses | (2.4) | (2.8) | (2.4) |
Impact on fair value from 20% adverse change in expected credit losses | SFr (4.8) | SFr (6.2) | (4.8) |
Other asset-backed financings | Minimum | |||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | |||
Cash flow discount rate per annum, in % (as a percent) | 1.00% | 0.80% | |
Expected credit losses rate (rate per annum), in % (as a percent) | 1.00% | 0.90% | |
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 26 | SFr 20 | 26 |
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 | 805 | SFr 583 | SFr 805 |
Weighted-average life, in years | 3 years 8 months 12 days | 5 years 8 months 12 days | |
Impact on fair value from 10% adverse change in cash flow discount rate | (20.7) | SFr (8.1) | SFr (20.7) |
Impact on fair value from 20% adverse change in cash flow discount rate | (37.6) | (15.8) | (37.6) |
Impact on fair value from 10% adverse change in expected credit losses | (10.2) | (4.9) | (10.2) |
Impact on fair value from 20% adverse change in expected credit losses | (17.3) | SFr (9.7) | SFr (17.3) |
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) | 2.40% | 3.40% | |
Expected credit losses rate (rate per annum), in % (as a percent) | 0.50% | 0.80% | |
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) | 23.60% | 14.30% | |
Expected credit losses rate (rate per annum), in % (as a percent) | 5.80% | 4.70% | |
Bank | CMBS | Non-investment grade | |||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | |||
Fair value of beneficial interests held in SPEs | 112 | SFr 176 | SFr 112 |
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 | 2,006 | SFr 1,439 | SFr 2,006 |
Weighted-average life, in years | 5 years | 7 years 10 months 24 days | |
Impact on fair value from 10% adverse change in prepayment speed | (22.3) | SFr (25.5) | SFr (22.3) |
Impact on fair value from 20% adverse change in prepayment speed | (43.2) | (49.1) | (43.2) |
Impact on fair value from 10% adverse change in cash flow discount rate | (52.1) | (23.8) | (52.1) |
Impact on fair value from 20% adverse change in cash flow discount rate | (101.3) | (46.5) | (101.3) |
Impact on fair value from 10% adverse change in expected credit losses | (23.8) | (14.1) | (23.8) |
Impact on fair value from 20% adverse change in expected credit losses | (46.7) | SFr (27.6) | SFr (46.7) |
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) | 3.00% | 2.00% | |
Cash flow discount rate per annum, in % (as a percent) | 2.00% | 3.00% | |
Expected credit losses rate (rate per annum), in % (as a percent) | 1.00% | 0.60% | |
Bank | RMBS | Maximum | |||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | |||
Prepayment speed assumption (rate per annum), in % (as a percent) | 37.30% | 20.00% | |
Cash flow discount rate per annum, in % (as a percent) | 30.50% | 21.30% | |
Expected credit losses rate (rate per annum), in % (as a percent) | 28.70% | 18.80% | |
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 | 307 | SFr 209 | SFr 307 |
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 | 226 | SFr 1,154 | SFr 226 |
Weighted-average life, in years | 1 year 8 months 12 days | 5 years 7 months 6 days | |
Impact on fair value from 10% adverse change in cash flow discount rate | (2.9) | SFr (4.2) | SFr (2.9) |
Impact on fair value from 20% adverse change in cash flow discount rate | (5.7) | (9.4) | (5.7) |
Impact on fair value from 10% adverse change in expected credit losses | (2.4) | (2.8) | (2.4) |
Impact on fair value from 20% adverse change in expected credit losses | (4.8) | SFr (6.2) | SFr (4.8) |
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) | 0.80% | 1.00% | |
Expected credit losses rate (rate per annum), in % (as a percent) | 0.90% | 1.00% | |
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 26 | SFr 20 | SFr 26 |
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, 2019 | Dec. 31, 2018 |
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 276 | SFr 255 |
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 | (276) | (255) |
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 | 276 | 255 |
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 (276) | SFr (255) |
TFA - Transfer of certain finan
TFA - Transfer of certain financial assets accounted for as secured borrowings (Details 6) - CHF (SFr) SFr in Millions | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 |
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | SFr 28,400 | SFr 42,700 | |
Securities lending transactions | 4,900 | 5,000 | |
Obligation to return securities received as collateral, at fair value | 45,378 | SFr 49,472 | 41,696 |
Total | 78,700 | 89,400 | |
Corporate debt securities | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 10,200 | 9,600 | |
Securities lending transactions | 200 | 200 | |
Obligation to return securities received as collateral, at fair value | 1,200 | 1,000 | |
Asset-backed securities | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 1,900 | 1,800 | |
Obligation to return securities received as collateral, at fair value | 100 | 100 | |
Equity securities | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities lending transactions | 4,100 | 3,200 | |
Obligation to return securities received as collateral, at fair value | 41,300 | 37,000 | |
Other | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 200 | 200 | |
Securities lending transactions | 100 | 200 | |
Government debt securities | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 16,100 | 31,100 | |
Securities lending transactions | 500 | 1,400 | |
Obligation to return securities received as collateral, at fair value | 2,800 | 3,600 | |
Maturity on Demand [Member] | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 7,200 | 7,400 | |
Securities lending transactions | 4,800 | 4,100 | |
Obligation to return securities received as collateral, at fair value | 45,400 | 41,400 | |
Total | 57,400 | 52,900 | |
Maturity Less than 30 Days [Member] | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 14,100 | 26,300 | |
Securities lending transactions | 100 | 900 | |
Obligation to return securities received as collateral, at fair value | 0 | 100 | |
Total | 14,200 | 27,300 | |
Maturity 30 to 90 Days [Member] | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 4,500 | 6,700 | |
Securities lending transactions | 0 | 0 | |
Obligation to return securities received as collateral, at fair value | 0 | 200 | |
Total | 4,500 | 6,900 | |
Maturity Greater than 90 Days [Member] | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 2,600 | 2,300 | |
Securities lending transactions | 0 | 0 | |
Obligation to return securities received as collateral, at fair value | 0 | 0 | |
Total | 2,600 | 2,300 | |
Bank | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 28,500 | 42,700 | |
Securities lending transactions | 4,900 | 5,000 | |
Obligation to return securities received as collateral, at fair value | 45,378 | 41,696 | |
Total | 78,800 | 89,400 | |
Bank | Corporate debt securities | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 10,200 | 9,600 | |
Securities lending transactions | 200 | 200 | |
Obligation to return securities received as collateral, at fair value | 1,200 | 1,000 | |
Bank | Asset-backed securities | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 1,900 | 1,800 | |
Obligation to return securities received as collateral, at fair value | 100 | 100 | |
Bank | Equity securities | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities lending transactions | 4,100 | 3,200 | |
Obligation to return securities received as collateral, at fair value | 41,300 | 37,000 | |
Bank | Other | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 200 | 200 | |
Securities lending transactions | 100 | 200 | |
Bank | Government debt securities | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 16,200 | 31,100 | |
Securities lending transactions | 500 | 1,400 | |
Obligation to return securities received as collateral, at fair value | 2,800 | 3,600 | |
Bank | Maturity on Demand [Member] | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 7,200 | 7,400 | |
Securities lending transactions | 4,800 | 4,100 | |
Obligation to return securities received as collateral, at fair value | 45,400 | 41,400 | |
Total | 57,400 | 52,900 | |
Bank | Maturity Less than 30 Days [Member] | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 14,200 | 26,300 | |
Securities lending transactions | 100 | 900 | |
Obligation to return securities received as collateral, at fair value | 0 | 100 | |
Total | 14,300 | 27,300 | |
Bank | Maturity 30 to 90 Days [Member] | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 4,500 | 6,700 | |
Securities lending transactions | 0 | 0 | |
Obligation to return securities received as collateral, at fair value | 0 | 200 | |
Total | 4,500 | 6,900 | |
Bank | Maturity Greater than 90 Days [Member] | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 2,600 | 2,300 | |
Securities lending transactions | 0 | 0 | |
Obligation to return securities received as collateral, at fair value | 0 | 0 | |
Total | SFr 2,600 | SFr 2,300 |
Variable interest entities (VIE
Variable interest entities (VIE) - Consolidated (Details 7) SFr in Millions | Jun. 30, 2019CHF (SFr)day | Mar. 31, 2019CHF (SFr) | Dec. 31, 2018CHF (SFr) | Jun. 30, 2018CHF (SFr) | Dec. 31, 2017CHF (SFr) | |||||
Consolidated VIEs in which the Group was the primary beneficiary | ||||||||||
Cash and due from banks | SFr 92,489 | [1] | SFr 94,762 | SFr 100,047 | [1] | SFr 112,513 | [1] | SFr 109,815 | [1] | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 113,466 | 116,151 | 117,095 | |||||||
Trading assets | 145,613 | 144,922 | 133,635 | |||||||
Investment securities | 1,398 | 1,716 | 1,479 | |||||||
Other investments | 4,986 | 4,839 | 4,890 | |||||||
Net loans | 293,797 | 292,970 | 287,581 | |||||||
Premises and equipment | 4,778 | 4,868 | 4,838 | |||||||
Other assets | 39,579 | 40,501 | 37,459 | |||||||
of which loans held-for-sale | 6,929 | 8,285 | 6,630 | |||||||
Customer deposits | 364,302 | 367,147 | 363,925 | |||||||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 19,582 | 20,617 | 24,623 | |||||||
Trading liabilities | 43,356 | 39,536 | 42,169 | |||||||
Short-term borrowings | 26,139 | 26,557 | 21,926 | |||||||
Long-term debt | 157,955 | 160,261 | 154,308 | |||||||
Other liabilities | SFr 29,958 | 29,393 | 30,107 | |||||||
CP Conduit | ||||||||||
VIE Disclosures | ||||||||||
Average maturity of CP (in days) | day | 114 | |||||||||
Consolidated VIEs | ||||||||||
Consolidated VIEs in which the Group was the primary beneficiary | ||||||||||
Cash and due from banks | SFr 274 | 173 | 173 | |||||||
Trading assets | 3,010 | 3,143 | 3,048 | |||||||
Other investments | 1,671 | 1,525 | 1,505 | |||||||
Net loans | 323 | 396 | 387 | |||||||
Premises and equipment | 37 | 39 | ||||||||
Other assets | 1,951 | 2,047 | 2,049 | |||||||
of which loans held-for-sale | 235 | 167 | ||||||||
Total assets of consolidated VIEs | 7,229 | 7,162 | ||||||||
Trading liabilities | 6 | 4 | 3 | |||||||
Short-term borrowings | 4,828 | 5,138 | 5,465 | |||||||
Long-term debt | 2,071 | 2,116 | 1,764 | |||||||
Other liabilities | 314 | SFr 298 | 277 | |||||||
Total liabilities of consolidated VIEs | 7,219 | 7,509 | ||||||||
Consolidated VIEs | Collateralized debt obligations | ||||||||||
Consolidated VIEs in which the Group was the primary beneficiary | ||||||||||
Cash and due from banks | 10 | 15 | ||||||||
Trading assets | 76 | 72 | ||||||||
Other investments | 0 | 0 | ||||||||
Net loans | 0 | 0 | ||||||||
Premises and equipment | 0 | 0 | ||||||||
Other assets | 0 | 57 | ||||||||
of which loans held-for-sale | 0 | 57 | ||||||||
Total assets of consolidated VIEs | 86 | 144 | ||||||||
Trading liabilities | 0 | 0 | ||||||||
Short-term borrowings | 0 | 0 | ||||||||
Long-term debt | 12 | 48 | ||||||||
Other liabilities | 0 | 0 | ||||||||
Total liabilities of consolidated VIEs | 12 | 48 | ||||||||
Consolidated VIEs | CP Conduit | ||||||||||
Consolidated VIEs in which the Group was the primary beneficiary | ||||||||||
Cash and due from banks | 0 | 1 | ||||||||
Trading assets | 0 | 0 | ||||||||
Other investments | 0 | 0 | ||||||||
Net loans | 0 | 0 | ||||||||
Premises and equipment | 0 | 0 | ||||||||
Other assets | 21 | 16 | ||||||||
of which loans held-for-sale | 0 | 0 | ||||||||
Total assets of consolidated VIEs | 21 | 17 | ||||||||
Trading liabilities | 0 | 0 | ||||||||
Short-term borrowings | 4,828 | 5,465 | ||||||||
Long-term debt | 0 | 0 | ||||||||
Other liabilities | 54 | 43 | ||||||||
Total liabilities of consolidated VIEs | 4,882 | 5,508 | ||||||||
Consolidated VIEs | Financial intermediation - Securitizations | ||||||||||
Consolidated VIEs in which the Group was the primary beneficiary | ||||||||||
Cash and due from banks | 184 | 68 | ||||||||
Trading assets | 1,682 | 1,602 | ||||||||
Other investments | 0 | 0 | ||||||||
Net loans | 53 | 119 | ||||||||
Premises and equipment | 0 | 0 | ||||||||
Other assets | 859 | 863 | ||||||||
of which loans held-for-sale | 235 | 107 | ||||||||
Total assets of consolidated VIEs | 2,778 | 2,652 | ||||||||
Trading liabilities | 0 | 0 | ||||||||
Short-term borrowings | 0 | 0 | ||||||||
Long-term debt | 1,844 | 1,487 | ||||||||
Other liabilities | 2 | 1 | ||||||||
Total liabilities of consolidated VIEs | 1,846 | 1,488 | ||||||||
Consolidated VIEs | Financial intermediation - Funds | ||||||||||
Consolidated VIEs in which the Group was the primary beneficiary | ||||||||||
Cash and due from banks | 30 | 17 | ||||||||
Trading assets | 315 | 418 | ||||||||
Other investments | 309 | 153 | ||||||||
Net loans | 1 | 0 | ||||||||
Premises and equipment | 0 | 0 | ||||||||
Other assets | 10 | 4 | ||||||||
of which loans held-for-sale | 0 | 0 | ||||||||
Total assets of consolidated VIEs | 665 | 592 | ||||||||
Trading liabilities | 0 | 0 | ||||||||
Short-term borrowings | 0 | 0 | ||||||||
Long-term debt | 171 | 174 | ||||||||
Other liabilities | 2 | 8 | ||||||||
Total liabilities of consolidated VIEs | 173 | 182 | ||||||||
Consolidated VIEs | Financial intermediation - Loans | ||||||||||
Consolidated VIEs in which the Group was the primary beneficiary | ||||||||||
Cash and due from banks | 41 | 52 | ||||||||
Trading assets | 922 | 944 | ||||||||
Other investments | 1,085 | 1,073 | ||||||||
Net loans | 26 | 23 | ||||||||
Premises and equipment | 37 | 39 | ||||||||
Other assets | 82 | 72 | ||||||||
of which loans held-for-sale | 0 | 3 | ||||||||
Total assets of consolidated VIEs | 2,156 | 2,164 | ||||||||
Trading liabilities | 6 | 3 | ||||||||
Short-term borrowings | 0 | 0 | ||||||||
Long-term debt | 10 | 26 | ||||||||
Other liabilities | 94 | 98 | ||||||||
Total liabilities of consolidated VIEs | 110 | 127 | ||||||||
Consolidated VIEs | Financial intermediation - Other | ||||||||||
Consolidated VIEs in which the Group was the primary beneficiary | ||||||||||
Cash and due from banks | 9 | 20 | ||||||||
Trading assets | 15 | 12 | ||||||||
Other investments | 277 | 279 | ||||||||
Net loans | 243 | 245 | ||||||||
Premises and equipment | 0 | 0 | ||||||||
Other assets | 979 | 1,037 | ||||||||
of which loans held-for-sale | 0 | 0 | ||||||||
Total assets of consolidated VIEs | 1,523 | 1,593 | ||||||||
Trading liabilities | 0 | 0 | ||||||||
Short-term borrowings | 0 | 0 | ||||||||
Long-term debt | 34 | 29 | ||||||||
Other liabilities | 162 | 127 | ||||||||
Total liabilities of consolidated VIEs | 196 | 156 | ||||||||
Bank | ||||||||||
Consolidated VIEs in which the Group was the primary beneficiary | ||||||||||
Cash and due from banks | [2] | 91,774 | 99,314 | SFr 111,636 | SFr 109,510 | |||||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 113,466 | 117,095 | ||||||||
Trading assets | 145,758 | 133,859 | ||||||||
Investment securities | 1,396 | 1,477 | ||||||||
Other investments | 4,946 | 4,824 | ||||||||
Net loans | 300,281 | 292,875 | ||||||||
Premises and equipment | 4,429 | 4,530 | ||||||||
Other assets | 37,093 | 36,673 | ||||||||
of which loans held-for-sale | 6,929 | 6,630 | ||||||||
Customer deposits | 365,556 | 365,263 | ||||||||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 19,691 | 24,623 | ||||||||
Trading liabilities | 43,370 | 42,171 | ||||||||
Short-term borrowings | 26,628 | 22,419 | ||||||||
Long-term debt | 157,018 | 153,433 | ||||||||
Other liabilities | SFr 29,401 | 30,327 | ||||||||
Bank | CP Conduit | ||||||||||
VIE Disclosures | ||||||||||
Average maturity of CP (in days) | day | 114 | |||||||||
Bank | Consolidated VIEs | ||||||||||
Consolidated VIEs in which the Group was the primary beneficiary | ||||||||||
Cash and due from banks | SFr 274 | 173 | ||||||||
Trading assets | 3,010 | 3,048 | ||||||||
Other investments | 1,671 | 1,505 | ||||||||
Net loans | 323 | 387 | ||||||||
Premises and equipment | 17 | 18 | ||||||||
Other assets | 1,930 | 2,027 | ||||||||
of which loans held-for-sale | 235 | 167 | ||||||||
Total assets of consolidated VIEs | 7,208 | 7,140 | ||||||||
Trading liabilities | 6 | 3 | ||||||||
Short-term borrowings | 4,828 | 5,465 | ||||||||
Long-term debt | 2,071 | 1,764 | ||||||||
Other liabilities | 313 | 277 | ||||||||
Total liabilities of consolidated VIEs | 7,218 | 7,509 | ||||||||
Bank | Consolidated VIEs | Collateralized debt obligations | ||||||||||
Consolidated VIEs in which the Group was the primary beneficiary | ||||||||||
Cash and due from banks | 10 | 15 | ||||||||
Trading assets | 76 | 72 | ||||||||
Other investments | 0 | 0 | ||||||||
Net loans | 0 | 0 | ||||||||
Premises and equipment | 0 | 0 | ||||||||
Other assets | 0 | 57 | ||||||||
of which loans held-for-sale | 0 | 57 | ||||||||
Total assets of consolidated VIEs | 86 | 144 | ||||||||
Trading liabilities | 0 | 0 | ||||||||
Short-term borrowings | 0 | 0 | ||||||||
Long-term debt | 12 | 48 | ||||||||
Other liabilities | 0 | 0 | ||||||||
Total liabilities of consolidated VIEs | 12 | 48 | ||||||||
Bank | Consolidated VIEs | CP Conduit | ||||||||||
Consolidated VIEs in which the Group was the primary beneficiary | ||||||||||
Cash and due from banks | 0 | 1 | ||||||||
Trading assets | 0 | 0 | ||||||||
Other investments | 0 | 0 | ||||||||
Net loans | 0 | 0 | ||||||||
Premises and equipment | 0 | 0 | ||||||||
Other assets | 21 | 16 | ||||||||
of which loans held-for-sale | 0 | 0 | ||||||||
Total assets of consolidated VIEs | 21 | 17 | ||||||||
Trading liabilities | 0 | 0 | ||||||||
Short-term borrowings | 4,828 | 5,465 | ||||||||
Long-term debt | 0 | 0 | ||||||||
Other liabilities | 54 | 43 | ||||||||
Total liabilities of consolidated VIEs | 4,882 | 5,508 | ||||||||
Bank | Consolidated VIEs | Financial intermediation - Securitizations | ||||||||||
Consolidated VIEs in which the Group was the primary beneficiary | ||||||||||
Cash and due from banks | 184 | 68 | ||||||||
Trading assets | 1,682 | 1,602 | ||||||||
Other investments | 0 | 0 | ||||||||
Net loans | 53 | 119 | ||||||||
Premises and equipment | 0 | 0 | ||||||||
Other assets | 859 | 863 | ||||||||
of which loans held-for-sale | 235 | 107 | ||||||||
Total assets of consolidated VIEs | 2,778 | 2,652 | ||||||||
Trading liabilities | 0 | 0 | ||||||||
Short-term borrowings | 0 | 0 | ||||||||
Long-term debt | 1,844 | 1,487 | ||||||||
Other liabilities | 2 | 1 | ||||||||
Total liabilities of consolidated VIEs | 1,846 | 1,488 | ||||||||
Bank | Consolidated VIEs | Financial intermediation - Funds | ||||||||||
Consolidated VIEs in which the Group was the primary beneficiary | ||||||||||
Cash and due from banks | 30 | 17 | ||||||||
Trading assets | 315 | 418 | ||||||||
Other investments | 309 | 153 | ||||||||
Net loans | 1 | 0 | ||||||||
Premises and equipment | 0 | 0 | ||||||||
Other assets | 10 | 4 | ||||||||
of which loans held-for-sale | 0 | 0 | ||||||||
Total assets of consolidated VIEs | 665 | 592 | ||||||||
Trading liabilities | 0 | 0 | ||||||||
Short-term borrowings | 0 | 0 | ||||||||
Long-term debt | 171 | 174 | ||||||||
Other liabilities | 2 | 8 | ||||||||
Total liabilities of consolidated VIEs | 173 | 182 | ||||||||
Bank | Consolidated VIEs | Financial intermediation - Loans | ||||||||||
Consolidated VIEs in which the Group was the primary beneficiary | ||||||||||
Cash and due from banks | 41 | 52 | ||||||||
Trading assets | 922 | 944 | ||||||||
Other investments | 1,085 | 1,073 | ||||||||
Net loans | 26 | 23 | ||||||||
Premises and equipment | 17 | 18 | ||||||||
Other assets | 61 | 50 | ||||||||
of which loans held-for-sale | 0 | 3 | ||||||||
Total assets of consolidated VIEs | 2,135 | 2,142 | ||||||||
Trading liabilities | 6 | 3 | ||||||||
Short-term borrowings | 0 | 0 | ||||||||
Long-term debt | 10 | 26 | ||||||||
Other liabilities | 94 | 98 | ||||||||
Total liabilities of consolidated VIEs | 110 | 127 | ||||||||
Bank | Consolidated VIEs | Financial intermediation - Other | ||||||||||
Consolidated VIEs in which the Group was the primary beneficiary | ||||||||||
Cash and due from banks | 9 | 20 | ||||||||
Trading assets | 15 | 12 | ||||||||
Other investments | 277 | 279 | ||||||||
Net loans | 243 | 245 | ||||||||
Premises and equipment | 0 | 0 | ||||||||
Other assets | 979 | 1,037 | ||||||||
of which loans held-for-sale | 0 | 0 | ||||||||
Total assets of consolidated VIEs | 1,523 | 1,593 | ||||||||
Trading liabilities | 0 | 0 | ||||||||
Short-term borrowings | 0 | 0 | ||||||||
Long-term debt | 34 | 29 | ||||||||
Other liabilities | 161 | 127 | ||||||||
Total liabilities of consolidated VIEs | SFr 195 | SFr 156 | ||||||||
[1] | Includes restricted cash. | |||||||||
[2] | Includes restricted cash. |
VIE - Non-consolidated (Details
VIE - Non-consolidated (Details 8) - CHF (SFr) SFr in Millions | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 |
Non-consolidated VIEs | |||
Trading assets | SFr 145,613 | SFr 144,922 | SFr 133,635 |
Net loans | 293,797 | 292,970 | 287,581 |
Other assets | 39,579 | 40,501 | 37,459 |
Other liabilities | 29,958 | SFr 29,393 | 30,107 |
Non-consolidated VIEs | |||
Non-consolidated VIEs | |||
Trading assets | 8,309 | 9,549 | |
Net loans | 12,196 | 8,896 | |
Other assets | 984 | 586 | |
Total variable interest assets, non-consolidated VIEs | 21,489 | 19,031 | |
Maximum exposure to loss | 26,867 | 24,486 | |
Non-consolidated VIE assets | 264,143 | 223,914 | |
Non-consolidated VIEs | Collateralized debt obligations | |||
Non-consolidated VIEs | |||
Trading assets | 206 | 209 | |
Net loans | 655 | 154 | |
Other assets | 0 | 3 | |
Total variable interest assets, non-consolidated VIEs | 861 | 366 | |
Maximum exposure to loss | 861 | 366 | |
Non-consolidated VIE assets | 6,318 | 7,033 | |
Non-consolidated VIEs | Financial intermediation - Securitizations | |||
Non-consolidated VIEs | |||
Trading assets | 4,970 | 4,527 | |
Net loans | 1,373 | 1,475 | |
Other assets | 74 | 19 | |
Total variable interest assets, non-consolidated VIEs | 6,417 | 6,021 | |
Maximum exposure to loss | 7,801 | 7,637 | |
Non-consolidated VIE assets | 103,256 | 96,483 | |
Non-consolidated VIEs | Financial intermediation - Funds | |||
Non-consolidated VIEs | |||
Trading assets | 835 | 927 | |
Net loans | 2,205 | 1,591 | |
Other assets | 455 | 120 | |
Total variable interest assets, non-consolidated VIEs | 3,495 | 2,638 | |
Maximum exposure to loss | 3,495 | 2,653 | |
Non-consolidated VIE assets | 102,841 | 68,258 | |
Non-consolidated VIEs | Financial intermediation - Loans | |||
Non-consolidated VIEs | |||
Trading assets | 148 | 183 | |
Net loans | 7,637 | 5,246 | |
Other assets | 1 | 0 | |
Total variable interest assets, non-consolidated VIEs | 7,786 | 5,429 | |
Maximum exposure to loss | 11,169 | 8,680 | |
Non-consolidated VIE assets | 23,202 | 20,804 | |
Non-consolidated VIEs | Financial intermediation - Other | |||
Non-consolidated VIEs | |||
Trading assets | 2,150 | 3,703 | |
Net loans | 326 | 430 | |
Other assets | 454 | 444 | |
Total variable interest assets, non-consolidated VIEs | 2,930 | 4,577 | |
Maximum exposure to loss | 3,541 | 5,150 | |
Non-consolidated VIE assets | 28,526 | 31,336 | |
Bank | |||
Non-consolidated VIEs | |||
Trading assets | 145,758 | 133,859 | |
Net loans | 300,281 | 292,875 | |
Other assets | 37,093 | 36,673 | |
Other liabilities | 29,401 | 30,327 | |
Bank | Non-consolidated VIEs | |||
Non-consolidated VIEs | |||
Trading assets | 8,309 | 9,549 | |
Net loans | 12,196 | 8,896 | |
Other assets | 976 | 578 | |
Total variable interest assets, non-consolidated VIEs | 21,481 | 19,023 | |
Maximum exposure to loss | 26,860 | 24,478 | |
Non-consolidated VIE assets | 239,905 | 198,952 | |
Bank | Non-consolidated VIEs | Collateralized debt obligations | |||
Non-consolidated VIEs | |||
Trading assets | 206 | 209 | |
Net loans | 655 | 154 | |
Other assets | 0 | 3 | |
Total variable interest assets, non-consolidated VIEs | 861 | 366 | |
Maximum exposure to loss | 861 | 366 | |
Non-consolidated VIE assets | 6,318 | 7,033 | |
Bank | Non-consolidated VIEs | Financial intermediation - Securitizations | |||
Non-consolidated VIEs | |||
Trading assets | 4,970 | 4,527 | |
Net loans | 1,373 | 1,475 | |
Other assets | 74 | 19 | |
Total variable interest assets, non-consolidated VIEs | 6,417 | 6,021 | |
Maximum exposure to loss | 7,801 | 7,637 | |
Non-consolidated VIE assets | 103,256 | 96,483 | |
Bank | Non-consolidated VIEs | Financial intermediation - Funds | |||
Non-consolidated VIEs | |||
Trading assets | 835 | 927 | |
Net loans | 2,205 | 1,591 | |
Other assets | 447 | 112 | |
Total variable interest assets, non-consolidated VIEs | 3,487 | 2,630 | |
Maximum exposure to loss | 3,488 | 2,645 | |
Non-consolidated VIE assets | 100,934 | 65,848 | |
Bank | Non-consolidated VIEs | Financial intermediation - Loans | |||
Non-consolidated VIEs | |||
Trading assets | 148 | 183 | |
Net loans | 7,637 | 5,246 | |
Other assets | 1 | 0 | |
Total variable interest assets, non-consolidated VIEs | 7,786 | 5,429 | |
Maximum exposure to loss | 11,169 | 8,680 | |
Non-consolidated VIE assets | 23,202 | 20,804 | |
Bank | Non-consolidated VIEs | Financial intermediation - Other | |||
Non-consolidated VIEs | |||
Trading assets | 2,150 | 3,703 | |
Net loans | 326 | 430 | |
Other assets | 454 | 444 | |
Total variable interest assets, non-consolidated VIEs | 2,930 | 4,577 | |
Maximum exposure to loss | 3,541 | 5,150 | |
Non-consolidated VIE assets | SFr 6,195 | SFr 8,784 |
Financial instruments (FI) - As
Financial instruments (FI) - Assets measured at fair value on recurring basis (Details 2) - CHF (SFr) SFr in Millions | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 |
Assets | |||
Cash and Due from Banks | SFr 172 | SFr 71 | SFr 115 |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 82,286 | 81,730 | 81,818 |
Securities received as collateral | 45,378 | 49,472 | 41,696 |
Trading assets | 145,613 | 144,922 | 133,635 |
Investment securities | 1,398 | 1,716 | 1,479 |
Other investments | 2,574 | 2,364 | 2,434 |
Loans | 12,837 | 15,305 | 14,873 |
Other intangible assets (mortgage servicing rights), at fair value | 162 | 168 | 163 |
Other assets | 8,195 | SFr 9,001 | 7,263 |
Netting impact | (116,000) | (110,100) | |
Total assets at fair value, measured at net asset value per share | 2,175 | 2,220 | |
Recurring basis | |||
Assets | |||
Cash and Due from Banks | 172 | 115 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 82,286 | 81,818 | |
Securities received as collateral | 45,378 | 41,696 | |
Trading assets | 145,613 | 133,635 | |
Investment securities | 1,398 | 1,479 | |
Other investments | 2,574 | 2,434 | |
Loans | 12,837 | 14,873 | |
Loans - of which commercial and industrial | 5,179 | 5,925 | |
Loans - of which financial institutions | 3,932 | 5,555 | |
Loans - of which government and public institutions | 2,780 | ||
Loans - of which real estate | 920 | 661 | |
Other intangible assets (mortgage servicing rights), at fair value | 162 | 163 | |
Other assets | 8,195 | 7,263 | |
Other assets - of which loans held-for-sale | 6,329 | 5,473 | |
Netting impact | (115,966) | (110,131) | |
Total assets at fair value | 298,615 | 283,476 | |
Recurring basis | Life finance instruments | |||
Assets | |||
Other investments | 1,086 | 1,067 | |
Recurring basis | Debt securities | |||
Assets | |||
Trading assets | 64,468 | 63,567 | |
Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Assets | |||
Trading assets | 26,489 | 28,321 | |
Recurring basis | Debt securities | Corporate debt securities | |||
Assets | |||
Trading assets | 13,514 | 9,322 | |
Recurring basis | Debt securities | RMBS | |||
Assets | |||
Trading assets | 19,883 | 21,351 | |
Recurring basis | Equity securities | |||
Assets | |||
Trading assets | 56,317 | 46,463 | |
Recurring basis | Derivative instruments | |||
Assets | |||
Trading assets | 19,561 | 18,312 | |
Netting impact | (115,691) | (109,927) | |
Recurring basis | Trading assets | |||
Assets | |||
Netting impact | (115,691) | (109,927) | |
Recurring basis | Other | |||
Assets | |||
Trading assets | 5,267 | 5,293 | |
Recurring basis | Other assets | |||
Assets | |||
Netting impact | (275) | (204) | |
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 | 42,346 | 37,962 | |
Trading assets | 82,028 | 76,124 | |
Investment securities | 2 | 2 | |
Other investments | 16 | 14 | |
Loans | 0 | 0 | |
Loans - of which commercial and industrial | 0 | 0 | |
Loans - of which financial institutions | 0 | 0 | |
Loans - of which government and public institutions | 0 | ||
Loans - of which real estate | 0 | 0 | |
Other intangible assets (mortgage servicing rights), at fair value | 0 | 0 | |
Other assets | 102 | 117 | |
Other assets - of which loans held-for-sale | 0 | 0 | |
Total assets at fair value | 124,494 | 114,219 | |
Level 1 | Recurring basis | Life finance instruments | |||
Assets | |||
Other investments | 0 | 0 | |
Level 1 | Recurring basis | Debt securities | |||
Assets | |||
Trading assets | 22,075 | 23,726 | |
Level 1 | Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Assets | |||
Trading assets | 21,404 | 23,547 | |
Level 1 | Recurring basis | Debt securities | Corporate debt securities | |||
Assets | |||
Trading assets | 590 | 66 | |
Level 1 | Recurring basis | Debt securities | RMBS | |||
Assets | |||
Trading assets | 0 | 0 | |
Level 1 | Recurring basis | Equity securities | |||
Assets | |||
Trading assets | 51,596 | 42,758 | |
Level 1 | Recurring basis | Derivative instruments | |||
Assets | |||
Trading assets | 6,632 | 7,999 | |
Level 1 | Recurring basis | Derivative instruments | Interest rate derivatives | |||
Assets | |||
Trading assets | 2,104 | 3,557 | |
Level 1 | Recurring basis | Derivative instruments | Foreign exchange derivatives | |||
Assets | |||
Trading assets | 144 | 25 | |
Level 1 | Recurring basis | Derivative instruments | Equity/Index-related products | |||
Assets | |||
Trading assets | 4,381 | 4,415 | |
Level 1 | Recurring basis | Derivative instruments | Credit derivatives | |||
Assets | |||
Trading assets | 0 | 0 | |
Level 1 | Recurring basis | Derivative instruments | Other derivatives | |||
Assets | |||
Trading assets | 0 | 1 | |
Level 1 | Recurring basis | Other | |||
Assets | |||
Trading assets | 1,725 | 1,641 | |
Level 2 | Recurring basis | |||
Assets | |||
Cash and Due from Banks | 172 | 115 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 82,286 | 81,818 | |
Securities received as collateral | 3,028 | 3,704 | |
Trading assets | 170,625 | 157,332 | |
Investment securities | 1,396 | 1,477 | |
Other investments | 11 | 7 | |
Loans | 8,674 | 10,549 | |
Loans - of which commercial and industrial | 3,561 | 3,976 | |
Loans - of which financial institutions | 2,705 | 4,164 | |
Loans - of which government and public institutions | 2,175 | ||
Loans - of which real estate | 233 | 146 | |
Other intangible assets (mortgage servicing rights), at fair value | 0 | 0 | |
Other assets | 6,650 | 5,807 | |
Other assets - of which loans held-for-sale | 4,880 | 4,238 | |
Total assets at fair value | 272,842 | 260,809 | |
Level 2 | Recurring basis | Life finance instruments | |||
Assets | |||
Other investments | 1 | 0 | |
Level 2 | Recurring basis | Debt securities | |||
Assets | |||
Trading assets | 40,669 | 37,587 | |
Level 2 | Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Assets | |||
Trading assets | 4,879 | 4,542 | |
Level 2 | Recurring basis | Debt securities | Corporate debt securities | |||
Assets | |||
Trading assets | 12,010 | 7,984 | |
Level 2 | Recurring basis | Debt securities | RMBS | |||
Assets | |||
Trading assets | 19,538 | 20,919 | |
Level 2 | Recurring basis | Equity securities | |||
Assets | |||
Trading assets | 3,580 | 2,459 | |
Level 2 | Recurring basis | Derivative instruments | |||
Assets | |||
Trading assets | 125,586 | 116,942 | |
Level 2 | Recurring basis | Derivative instruments | Interest rate derivatives | |||
Assets | |||
Trading assets | 77,210 | 65,823 | |
Level 2 | Recurring basis | Derivative instruments | Foreign exchange derivatives | |||
Assets | |||
Trading assets | 22,906 | 27,526 | |
Level 2 | Recurring basis | Derivative instruments | Equity/Index-related products | |||
Assets | |||
Trading assets | 18,520 | 17,967 | |
Level 2 | Recurring basis | Derivative instruments | Credit derivatives | |||
Assets | |||
Trading assets | 6,432 | 4,739 | |
Level 2 | Recurring basis | Derivative instruments | Other derivatives | |||
Assets | |||
Trading assets | 115 | 633 | |
Level 2 | Recurring basis | Other | |||
Assets | |||
Trading assets | 790 | 344 | |
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 | 4 | 30 | |
Trading assets | 7,652 | 8,980 | |
Investment securities | 0 | 0 | |
Other investments | 1,369 | 1,309 | |
Loans | 4,163 | 4,324 | |
Loans - of which commercial and industrial | 1,618 | 1,949 | |
Loans - of which financial institutions | 1,227 | 1,391 | |
Loans - of which government and public institutions | 605 | ||
Loans - of which real estate | 687 | 515 | |
Other intangible assets (mortgage servicing rights), at fair value | 162 | 163 | |
Other assets | 1,718 | 1,543 | |
Other assets - of which loans held-for-sale | 1,449 | 1,235 | |
Total assets at fair value | 15,068 | 16,349 | |
Level 3 | Recurring basis | Life finance instruments | |||
Assets | |||
Other investments | 1,085 | 1,067 | |
Level 3 | Recurring basis | Debt securities | |||
Assets | |||
Trading assets | 1,711 | 2,242 | |
Level 3 | Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Assets | |||
Trading assets | 206 | 232 | |
Level 3 | Recurring basis | Debt securities | Corporate debt securities | |||
Assets | |||
Trading assets | 901 | 1,260 | |
Level 3 | Recurring basis | Debt securities | RMBS | |||
Assets | |||
Trading assets | 345 | 432 | |
Level 3 | Recurring basis | Equity securities | |||
Assets | |||
Trading assets | 155 | 132 | |
Level 3 | Recurring basis | Derivative instruments | |||
Assets | |||
Trading assets | 3,034 | 3,298 | |
Level 3 | Recurring basis | Derivative instruments | Interest rate derivatives | |||
Assets | |||
Trading assets | 512 | 507 | |
Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | |||
Assets | |||
Trading assets | 225 | 258 | |
Level 3 | Recurring basis | Derivative instruments | Equity/Index-related products | |||
Assets | |||
Trading assets | 752 | 1,054 | |
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | |||
Assets | |||
Trading assets | 653 | 673 | |
Level 3 | Recurring basis | Derivative instruments | Other derivatives | |||
Assets | |||
Trading assets | 892 | 806 | |
Level 3 | Recurring basis | Other | |||
Assets | |||
Trading assets | 2,752 | 3,308 | |
Fair value measured at net asset value per share | Recurring basis | |||
Assets | |||
Trading assets | 999 | 1,126 | |
Other investments | 1,178 | 1,104 | |
Total assets at fair value | 2,177 | 2,230 | |
Fair value measured at net asset value per share | Recurring basis | Debt securities | |||
Assets | |||
Trading assets | 13 | 12 | |
Fair value measured at net asset value per share | Recurring basis | Debt securities | Corporate debt securities | |||
Assets | |||
Trading assets | 13 | 12 | |
Fair value measured at net asset value per share | Recurring basis | Equity securities | |||
Assets | |||
Trading assets | 986 | 1,114 | |
Bank | |||
Assets | |||
Cash and Due from Banks | 172 | 115 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 82,286 | 81,818 | |
Securities received as collateral | 45,378 | 41,696 | |
Trading assets | 145,758 | 133,859 | |
Investment securities | 1,396 | 1,477 | |
Other investments | 2,572 | 2,430 | |
Loans | 12,837 | 14,873 | |
Other intangible assets (mortgage servicing rights), at fair value | 162 | 163 | |
Other assets | 8,195 | 7,263 | |
Netting impact | (116,000) | (110,100) | |
Total assets at fair value, measured at net asset value per share | 2,173 | 2,216 | |
Bank | Recurring basis | |||
Assets | |||
Cash and Due from Banks | 172 | 115 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 82,286 | 81,818 | |
Securities received as collateral | 45,378 | 41,696 | |
Trading assets | 145,758 | 133,859 | |
Investment securities | 1,396 | 1,477 | |
Other investments | 2,572 | 2,430 | |
Loans | 12,837 | 14,873 | |
Loans - of which commercial and industrial | 5,179 | 5,925 | |
Loans - of which financial institutions | 3,932 | 5,555 | |
Loans - of which government and public institutions | 2,780 | ||
Loans - of which real estate | 920 | 661 | |
Other intangible assets (mortgage servicing rights), at fair value | 162 | 163 | |
Other assets | 8,195 | 7,263 | |
Other assets - of which loans held-for-sale | 6,329 | 5,473 | |
Netting impact | (115,966) | (110,134) | |
Total assets at fair value | 298,756 | 283,694 | |
Bank | Recurring basis | Life finance instruments | |||
Assets | |||
Other investments | 1,086 | 1,067 | |
Bank | Recurring basis | Debt securities | |||
Assets | |||
Trading assets | 64,555 | 63,648 | |
Bank | Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Assets | |||
Trading assets | 26,489 | 28,321 | |
Bank | Recurring basis | Debt securities | Corporate debt securities | |||
Assets | |||
Trading assets | 13,600 | 9,403 | |
Bank | Recurring basis | Debt securities | RMBS | |||
Assets | |||
Trading assets | 19,883 | 21,351 | |
Bank | Recurring basis | Equity securities | |||
Assets | |||
Trading assets | 56,376 | 46,517 | |
Bank | Recurring basis | Derivative instruments | |||
Assets | |||
Trading assets | 19,561 | 18,402 | |
Netting impact | (115,691) | (109,930) | |
Bank | Recurring basis | Trading assets | |||
Assets | |||
Netting impact | (115,691) | (109,930) | |
Bank | Recurring basis | Other | |||
Assets | |||
Trading assets | 5,266 | 5,292 | |
Bank | Recurring basis | Other assets | |||
Assets | |||
Netting impact | (275) | (204) | |
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 | 42,346 | 37,962 | |
Trading assets | 82,087 | 76,178 | |
Investment securities | 0 | 0 | |
Other investments | 16 | 14 | |
Loans | 0 | 0 | |
Loans - of which commercial and industrial | 0 | 0 | |
Loans - of which financial institutions | 0 | 0 | |
Loans - of which government and public institutions | 0 | ||
Loans - of which real estate | 0 | 0 | |
Other intangible assets (mortgage servicing rights), at fair value | 0 | 0 | |
Other assets | 102 | 117 | |
Other assets - of which loans held-for-sale | 0 | 0 | |
Total assets at fair value | 124,551 | 114,271 | |
Bank | Level 1 | Recurring basis | Life finance instruments | |||
Assets | |||
Other investments | 0 | 0 | |
Bank | Level 1 | Recurring basis | Debt securities | |||
Assets | |||
Trading assets | 22,075 | 23,726 | |
Bank | Level 1 | Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Assets | |||
Trading assets | 21,404 | 23,547 | |
Bank | Level 1 | Recurring basis | Debt securities | Corporate debt securities | |||
Assets | |||
Trading assets | 590 | 66 | |
Bank | Level 1 | Recurring basis | Debt securities | RMBS | |||
Assets | |||
Trading assets | 0 | 0 | |
Bank | Level 1 | Recurring basis | Equity securities | |||
Assets | |||
Trading assets | 51,655 | 42,812 | |
Bank | Level 1 | Recurring basis | Derivative instruments | |||
Assets | |||
Trading assets | 6,632 | 8,000 | |
Bank | Level 1 | Recurring basis | Derivative instruments | Interest rate derivatives | |||
Assets | |||
Trading assets | 2,104 | 3,557 | |
Bank | Level 1 | Recurring basis | Derivative instruments | Foreign exchange derivatives | |||
Assets | |||
Trading assets | 144 | 25 | |
Bank | Level 1 | Recurring basis | Derivative instruments | Equity/Index-related products | |||
Assets | |||
Trading assets | 4,381 | 4,415 | |
Bank | Level 1 | Recurring basis | Derivative instruments | Credit derivatives | |||
Assets | |||
Trading assets | 0 | 0 | |
Bank | Level 1 | Recurring basis | Derivative instruments | Other derivatives | |||
Assets | |||
Trading assets | 0 | 2 | |
Bank | Level 1 | Recurring basis | Other | |||
Assets | |||
Trading assets | 1,725 | 1,640 | |
Bank | Level 2 | Recurring basis | |||
Assets | |||
Cash and Due from Banks | 172 | 115 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 82,286 | 81,818 | |
Securities received as collateral | 3,028 | 3,704 | |
Trading assets | 170,711 | 157,505 | |
Investment securities | 1,396 | 1,477 | |
Other investments | 11 | 7 | |
Loans | 8,674 | 10,549 | |
Loans - of which commercial and industrial | 3,561 | 3,976 | |
Loans - of which financial institutions | 2,705 | 4,164 | |
Loans - of which government and public institutions | 2,175 | ||
Loans - of which real estate | 233 | 146 | |
Other intangible assets (mortgage servicing rights), at fair value | 0 | 0 | |
Other assets | 6,650 | 5,807 | |
Other assets - of which loans held-for-sale | 4,880 | 4,238 | |
Total assets at fair value | 272,928 | 260,982 | |
Bank | Level 2 | Recurring basis | Life finance instruments | |||
Assets | |||
Other investments | 1 | 0 | |
Bank | Level 2 | Recurring basis | Debt securities | |||
Assets | |||
Trading assets | 40,756 | 37,668 | |
Bank | Level 2 | Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Assets | |||
Trading assets | 4,879 | 4,542 | |
Bank | Level 2 | Recurring basis | Debt securities | Corporate debt securities | |||
Assets | |||
Trading assets | 12,096 | 8,065 | |
Bank | Level 2 | Recurring basis | Debt securities | RMBS | |||
Assets | |||
Trading assets | 19,538 | 20,919 | |
Bank | Level 2 | Recurring basis | Equity securities | |||
Assets | |||
Trading assets | 3,580 | 2,459 | |
Bank | Level 2 | Recurring basis | Derivative instruments | |||
Assets | |||
Trading assets | 125,586 | 117,034 | |
Bank | Level 2 | Recurring basis | Derivative instruments | Interest rate derivatives | |||
Assets | |||
Trading assets | 77,210 | 65,823 | |
Bank | Level 2 | Recurring basis | Derivative instruments | Foreign exchange derivatives | |||
Assets | |||
Trading assets | 22,906 | 27,526 | |
Bank | Level 2 | Recurring basis | Derivative instruments | Equity/Index-related products | |||
Assets | |||
Trading assets | 18,520 | 18,059 | |
Bank | Level 2 | Recurring basis | Derivative instruments | Credit derivatives | |||
Assets | |||
Trading assets | 6,432 | 4,739 | |
Bank | Level 2 | Recurring basis | Derivative instruments | Other derivatives | |||
Assets | |||
Trading assets | 115 | 633 | |
Bank | Level 2 | Recurring basis | Other | |||
Assets | |||
Trading assets | 789 | 344 | |
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 | 4 | 30 | |
Trading assets | 7,652 | 8,980 | |
Investment securities | 0 | 0 | |
Other investments | 1,369 | 1,309 | |
Loans | 4,163 | 4,324 | |
Loans - of which commercial and industrial | 1,618 | 1,949 | |
Loans - of which financial institutions | 1,227 | 1,391 | |
Loans - of which government and public institutions | 605 | ||
Loans - of which real estate | 687 | 515 | |
Other intangible assets (mortgage servicing rights), at fair value | 162 | 163 | |
Other assets | 1,718 | 1,543 | |
Other assets - of which loans held-for-sale | 1,449 | 1,235 | |
Total assets at fair value | 15,068 | 16,349 | |
Bank | Level 3 | Recurring basis | Life finance instruments | |||
Assets | |||
Other investments | 1,085 | 1,067 | |
Bank | Level 3 | Recurring basis | Debt securities | |||
Assets | |||
Trading assets | 1,711 | 2,242 | |
Bank | Level 3 | Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Assets | |||
Trading assets | 206 | 232 | |
Bank | Level 3 | Recurring basis | Debt securities | Corporate debt securities | |||
Assets | |||
Trading assets | 901 | 1,260 | |
Bank | Level 3 | Recurring basis | Debt securities | RMBS | |||
Assets | |||
Trading assets | 345 | 432 | |
Bank | Level 3 | Recurring basis | Equity securities | |||
Assets | |||
Trading assets | 155 | 132 | |
Bank | Level 3 | Recurring basis | Derivative instruments | |||
Assets | |||
Trading assets | 3,034 | 3,298 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Interest rate derivatives | |||
Assets | |||
Trading assets | 512 | 507 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | |||
Assets | |||
Trading assets | 225 | 258 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Equity/Index-related products | |||
Assets | |||
Trading assets | 752 | 1,054 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | |||
Assets | |||
Trading assets | 653 | 673 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Other derivatives | |||
Assets | |||
Trading assets | 892 | 806 | |
Bank | Level 3 | Recurring basis | Other | |||
Assets | |||
Trading assets | 2,752 | 3,308 | |
Bank | Fair value measured at net asset value per share | Recurring basis | |||
Assets | |||
Trading assets | 999 | 1,126 | |
Other investments | 1,176 | 1,100 | |
Total assets at fair value | 2,175 | 2,226 | |
Bank | Fair value measured at net asset value per share | Recurring basis | Debt securities | |||
Assets | |||
Trading assets | 13 | 12 | |
Bank | Fair value measured at net asset value per share | Recurring basis | Debt securities | Corporate debt securities | |||
Assets | |||
Trading assets | 13 | 12 | |
Bank | Fair value measured at net asset value per share | Recurring basis | Equity securities | |||
Assets | |||
Trading assets | SFr 986 | SFr 1,114 |
FI - Liabilities measured at fa
FI - Liabilities measured at fair value on recurring basis (Details 3) - CHF (SFr) SFr in Millions | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 |
Liabilities | |||
Due to banks | SFr 281 | SFr 248 | SFr 406 |
Customer deposits | 2,977 | 3,003 | 3,292 |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 9,195 | 9,745 | 14,828 |
Obligation to return securities received as collateral | 45,378 | 49,472 | 41,696 |
Trading liabilities | 43,356 | 39,536 | 42,169 |
Short-term borrowings | 10,237 | 9,514 | 8,068 |
Long-term debt | 71,648 | 69,411 | 63,935 |
Other liabilities | 7,613 | SFr 7,690 | 9,001 |
Netting impact | (119,400) | (117,300) | |
Recurring basis | |||
Liabilities | |||
Due to banks | 281 | 406 | |
Customer deposits | 2,977 | 3,292 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 9,195 | 14,828 | |
Obligation to return securities received as collateral | 45,378 | 41,696 | |
Trading liabilities | 43,356 | 42,169 | |
Short-term borrowings | 10,237 | 8,068 | |
Long-term debt | 71,648 | 63,935 | |
Other liabilities | 7,613 | 9,001 | |
Netting impact | (119,435) | (117,206) | |
Total liabilities at fair value | 190,685 | 183,395 | |
Recurring basis | Long-term debt - of which structured notes over one year and up to two years | |||
Liabilities | |||
Long-term debt | 8,926 | 7,770 | |
Recurring basis | Long-term debt - of which structured notes over two years | |||
Liabilities | |||
Long-term debt | 42,046 | 40,015 | |
Recurring basis | Long-term debt - of which high-trigger instruments | |||
Liabilities | |||
Long-term debt | 5,739 | ||
Recurring basis | Debt securities | |||
Liabilities | |||
Trading liabilities | 11,573 | 7,996 | |
Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Liabilities | |||
Trading liabilities | 6,338 | 4,583 | |
Recurring basis | Equity securities | |||
Liabilities | |||
Trading liabilities | 16,948 | 18,950 | |
Recurring basis | Derivative instruments | |||
Liabilities | |||
Trading liabilities | 14,835 | 15,223 | |
Netting impact | (119,226) | (116,985) | |
Recurring basis | Trading liabilities | |||
Liabilities | |||
Netting impact | (119,226) | (116,985) | |
Recurring basis | Other liabilities | |||
Liabilities | |||
Netting impact | (209) | (221) | |
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 | 42,346 | 37,962 | |
Trading liabilities | 30,153 | 31,940 | |
Short-term borrowings | 0 | 0 | |
Long-term debt | 0 | 0 | |
Other liabilities | 0 | 0 | |
Total liabilities at fair value | 72,499 | 69,902 | |
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 high-trigger instruments | |||
Liabilities | |||
Long-term debt | 0 | ||
Level 1 | Recurring basis | Debt securities | |||
Liabilities | |||
Trading liabilities | 6,034 | 4,460 | |
Level 1 | Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Liabilities | |||
Trading liabilities | 5,957 | 4,328 | |
Level 1 | Recurring basis | Equity securities | |||
Liabilities | |||
Trading liabilities | 16,783 | 18,785 | |
Level 1 | Recurring basis | Derivative instruments | |||
Liabilities | |||
Trading liabilities | 7,336 | 8,695 | |
Level 1 | Recurring basis | Derivative instruments | Interest rate derivatives | |||
Liabilities | |||
Trading liabilities | 2,195 | 3,699 | |
Level 1 | Recurring basis | Derivative instruments | Foreign exchange derivatives | |||
Liabilities | |||
Trading liabilities | 101 | 32 | |
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 | 5,035 | 4,961 | |
Level 2 | Recurring basis | |||
Liabilities | |||
Due to banks | 281 | 406 | |
Customer deposits | 2,482 | 2,839 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 9,195 | 14,828 | |
Obligation to return securities received as collateral | 3,028 | 3,704 | |
Trading liabilities | 129,008 | 123,615 | |
Short-term borrowings | 9,240 | 7,284 | |
Long-term debt | 57,959 | 51,270 | |
Other liabilities | 6,575 | 7,881 | |
Total liabilities at fair value | 217,768 | 211,827 | |
Level 2 | Recurring basis | Long-term debt - of which structured notes over one year and up to two years | |||
Liabilities | |||
Long-term debt | 8,046 | 7,242 | |
Level 2 | Recurring basis | Long-term debt - of which structured notes over two years | |||
Liabilities | |||
Long-term debt | 29,535 | 28,215 | |
Level 2 | Recurring basis | Long-term debt - of which high-trigger instruments | |||
Liabilities | |||
Long-term debt | 5,735 | ||
Level 2 | Recurring basis | Debt securities | |||
Liabilities | |||
Trading liabilities | 5,533 | 3,511 | |
Level 2 | Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Liabilities | |||
Trading liabilities | 381 | 255 | |
Level 2 | Recurring basis | Equity securities | |||
Liabilities | |||
Trading liabilities | 110 | 118 | |
Level 2 | Recurring basis | Derivative instruments | |||
Liabilities | |||
Trading liabilities | 123,365 | 119,986 | |
Level 2 | Recurring basis | Derivative instruments | Interest rate derivatives | |||
Liabilities | |||
Trading liabilities | 71,223 | 62,649 | |
Level 2 | Recurring basis | Derivative instruments | Foreign exchange derivatives | |||
Liabilities | |||
Trading liabilities | 27,648 | 31,983 | |
Level 2 | Recurring basis | Derivative instruments | Credit derivatives | |||
Liabilities | |||
Trading liabilities | 7,362 | 5,485 | |
Level 2 | Recurring basis | Derivative instruments | Equity/Index-related products | |||
Liabilities | |||
Trading liabilities | 16,698 | 19,590 | |
Level 3 | Recurring basis | |||
Liabilities | |||
Due to banks | 0 | 0 | |
Customer deposits | 495 | 453 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 0 | 0 | |
Obligation to return securities received as collateral | 4 | 30 | |
Trading liabilities | 3,419 | 3,589 | |
Short-term borrowings | 997 | 784 | |
Long-term debt | 13,689 | 12,665 | |
Other liabilities | 1,247 | 1,341 | |
Total liabilities at fair value | 19,851 | 18,862 | |
Level 3 | Recurring basis | Long-term debt - of which structured notes over one year and up to two years | |||
Liabilities | |||
Long-term debt | 880 | 528 | |
Level 3 | Recurring basis | Long-term debt - of which structured notes over two years | |||
Liabilities | |||
Long-term debt | 12,511 | 11,800 | |
Level 3 | Recurring basis | Long-term debt - of which high-trigger instruments | |||
Liabilities | |||
Long-term debt | 4 | ||
Level 3 | Recurring basis | Debt securities | |||
Liabilities | |||
Trading liabilities | 6 | 25 | |
Level 3 | Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Liabilities | |||
Trading liabilities | 0 | 0 | |
Level 3 | Recurring basis | Equity securities | |||
Liabilities | |||
Trading liabilities | 53 | 37 | |
Level 3 | Recurring basis | Derivative instruments | |||
Liabilities | |||
Trading liabilities | 3,360 | 3,527 | |
Level 3 | Recurring basis | Derivative instruments | Interest rate derivatives | |||
Liabilities | |||
Trading liabilities | 216 | 189 | |
Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | |||
Liabilities | |||
Trading liabilities | 133 | 160 | |
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | |||
Liabilities | |||
Trading liabilities | 1,097 | 1,140 | |
Level 3 | Recurring basis | Derivative instruments | Equity/Index-related products | |||
Liabilities | |||
Trading liabilities | 1,449 | 1,500 | |
Fair value measured at net asset value per share | Recurring basis | |||
Liabilities | |||
Trading liabilities | 2 | 10 | |
Total liabilities at fair value | 2 | 10 | |
Fair value measured at net asset value per share | Recurring basis | Equity securities | |||
Liabilities | |||
Trading liabilities | 2 | 10 | |
Bank | |||
Liabilities | |||
Due to banks | 281 | 406 | |
Customer deposits | 2,977 | 3,292 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 9,304 | 14,828 | |
Obligation to return securities received as collateral | 45,378 | 41,696 | |
Trading liabilities | 43,370 | 42,171 | |
Short-term borrowings | 10,237 | 8,068 | |
Long-term debt | 70,703 | 63,027 | |
Other liabilities | 7,597 | 8,983 | |
Netting impact | (119,400) | (117,400) | |
Bank | Recurring basis | |||
Liabilities | |||
Due to banks | 281 | 406 | |
Customer deposits | 2,977 | 3,292 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 9,304 | 14,828 | |
Obligation to return securities received as collateral | 45,378 | 41,696 | |
Trading liabilities | 43,370 | 42,171 | |
Short-term borrowings | 10,237 | 8,068 | |
Long-term debt | 70,703 | 63,027 | |
Other liabilities | 7,597 | 8,983 | |
Netting impact | (119,482) | (117,326) | |
Total liabilities at fair value | 189,847 | 182,471 | |
Bank | Recurring basis | Long-term debt - of which structured notes over one year and up to two years | |||
Liabilities | |||
Long-term debt | 8,926 | 7,770 | |
Bank | Recurring basis | Long-term debt - of which structured notes over two years | |||
Liabilities | |||
Long-term debt | 42,046 | 40,015 | |
Bank | Recurring basis | Long-term debt - of which high-trigger instruments | |||
Liabilities | |||
Long-term debt | 5,753 | ||
Bank | Recurring basis | Debt securities | |||
Liabilities | |||
Trading liabilities | 11,574 | 7,998 | |
Bank | Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Liabilities | |||
Trading liabilities | 6,338 | 4,583 | |
Bank | Recurring basis | Equity securities | |||
Liabilities | |||
Trading liabilities | 16,961 | 18,950 | |
Bank | Recurring basis | Derivative instruments | |||
Liabilities | |||
Trading liabilities | 14,835 | 15,223 | |
Netting impact | (119,273) | (117,105) | |
Bank | Recurring basis | Trading liabilities | |||
Liabilities | |||
Netting impact | (119,273) | (117,105) | |
Bank | Recurring basis | Other liabilities | |||
Liabilities | |||
Netting impact | (209) | (221) | |
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 | 42,346 | 37,962 | |
Trading liabilities | 30,167 | 31,940 | |
Short-term borrowings | 0 | 0 | |
Long-term debt | 0 | 0 | |
Other liabilities | 0 | 0 | |
Total liabilities at fair value | 72,513 | 69,902 | |
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 high-trigger instruments | |||
Liabilities | |||
Long-term debt | 0 | ||
Bank | Level 1 | Recurring basis | Debt securities | |||
Liabilities | |||
Trading liabilities | 6,035 | 4,462 | |
Bank | Level 1 | Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Liabilities | |||
Trading liabilities | 5,957 | 4,328 | |
Bank | Level 1 | Recurring basis | Equity securities | |||
Liabilities | |||
Trading liabilities | 16,796 | 18,785 | |
Bank | Level 1 | Recurring basis | Derivative instruments | |||
Liabilities | |||
Trading liabilities | 7,336 | 8,693 | |
Bank | Level 1 | Recurring basis | Derivative instruments | Interest rate derivatives | |||
Liabilities | |||
Trading liabilities | 2,195 | 3,699 | |
Bank | Level 1 | Recurring basis | Derivative instruments | Foreign exchange derivatives | |||
Liabilities | |||
Trading liabilities | 101 | 32 | |
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 | 5,035 | 4,961 | |
Bank | Level 2 | Recurring basis | |||
Liabilities | |||
Due to banks | 281 | 406 | |
Customer deposits | 2,482 | 2,839 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 9,304 | 14,828 | |
Obligation to return securities received as collateral | 3,028 | 3,704 | |
Trading liabilities | 129,055 | 123,737 | |
Short-term borrowings | 9,240 | 7,284 | |
Long-term debt | 56,877 | 50,356 | |
Other liabilities | 6,572 | 7,877 | |
Total liabilities at fair value | 216,839 | 211,031 | |
Bank | Level 2 | Recurring basis | Long-term debt - of which structured notes over one year and up to two years | |||
Liabilities | |||
Long-term debt | 8,046 | 7,242 | |
Bank | Level 2 | Recurring basis | Long-term debt - of which structured notes over two years | |||
Liabilities | |||
Long-term debt | 29,535 | 28,215 | |
Bank | Level 2 | Recurring basis | Long-term debt - of which high-trigger instruments | |||
Liabilities | |||
Long-term debt | 5,748 | ||
Bank | Level 2 | Recurring basis | Debt securities | |||
Liabilities | |||
Trading liabilities | 5,533 | 3,511 | |
Bank | Level 2 | Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Liabilities | |||
Trading liabilities | 381 | 255 | |
Bank | Level 2 | Recurring basis | Equity securities | |||
Liabilities | |||
Trading liabilities | 110 | 118 | |
Bank | Level 2 | Recurring basis | Derivative instruments | |||
Liabilities | |||
Trading liabilities | 123,412 | 120,108 | |
Bank | Level 2 | Recurring basis | Derivative instruments | Interest rate derivatives | |||
Liabilities | |||
Trading liabilities | 71,270 | 62,573 | |
Bank | Level 2 | Recurring basis | Derivative instruments | Foreign exchange derivatives | |||
Liabilities | |||
Trading liabilities | 27,648 | 31,983 | |
Bank | Level 2 | Recurring basis | Derivative instruments | Credit derivatives | |||
Liabilities | |||
Trading liabilities | 7,362 | 5,485 | |
Bank | Level 2 | Recurring basis | Derivative instruments | Equity/Index-related products | |||
Liabilities | |||
Trading liabilities | 16,698 | 19,788 | |
Bank | Level 3 | Recurring basis | |||
Liabilities | |||
Due to banks | 0 | 0 | |
Customer deposits | 495 | 453 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 0 | 0 | |
Obligation to return securities received as collateral | 4 | 30 | |
Trading liabilities | 3,419 | 3,589 | |
Short-term borrowings | 997 | 784 | |
Long-term debt | 13,826 | 12,671 | |
Other liabilities | 1,234 | 1,327 | |
Total liabilities at fair value | 19,975 | 18,854 | |
Bank | Level 3 | Recurring basis | Long-term debt - of which structured notes over one year and up to two years | |||
Liabilities | |||
Long-term debt | 880 | 528 | |
Bank | Level 3 | Recurring basis | Long-term debt - of which structured notes over two years | |||
Liabilities | |||
Long-term debt | 12,511 | 11,800 | |
Bank | Level 3 | Recurring basis | Long-term debt - of which high-trigger instruments | |||
Liabilities | |||
Long-term debt | 5 | ||
Bank | Level 3 | Recurring basis | Debt securities | |||
Liabilities | |||
Trading liabilities | 6 | 25 | |
Bank | Level 3 | Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Liabilities | |||
Trading liabilities | 0 | 0 | |
Bank | Level 3 | Recurring basis | Equity securities | |||
Liabilities | |||
Trading liabilities | 53 | 37 | |
Bank | Level 3 | Recurring basis | Derivative instruments | |||
Liabilities | |||
Trading liabilities | 3,360 | 3,527 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Interest rate derivatives | |||
Liabilities | |||
Trading liabilities | 216 | 189 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | |||
Liabilities | |||
Trading liabilities | 133 | 160 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | |||
Liabilities | |||
Trading liabilities | 1,097 | 1,140 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Equity/Index-related products | |||
Liabilities | |||
Trading liabilities | 1,449 | 1,500 | |
Bank | Fair value measured at net asset value per share | Recurring basis | |||
Liabilities | |||
Trading liabilities | 2 | 10 | |
Total liabilities at fair value | 2 | 10 | |
Bank | Fair value measured at net asset value per share | Recurring basis | Equity securities | |||
Liabilities | |||
Trading liabilities | SFr 2 | SFr 10 |
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, 2019 | Jun. 30, 2019 | Jun. 30, 2018 | |
Securities received as collateral | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | SFr 30 | SFr 46 | |
Transfers in, assets | 0 | 0 | |
Transfers out, assets | 0 | (15) | |
Purchases, assets | 0 | 58 | |
Sales, assets | (26) | (80) | |
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 | 0 | |
Balance at end of period, assets | SFr 4 | 4 | 9 |
Trading assets | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 8,980 | 8,796 | |
Transfers in, assets | 705 | 743 | |
Transfers out, assets | (1,697) | (695) | |
Purchases, assets | 8,831 | 24,222 | |
Sales, assets | (9,435) | (25,127) | |
Issuances, assets | 556 | 786 | |
Settlements, assets | (838) | (826) | |
Gain (loss) on transfers in/out included in trading revenues, assets | (75) | (37) | |
Gain (loss) on all other activity included in trading revenues, assets | 721 | (137) | |
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 | (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 | (96) | 27 | |
Balance at end of period, assets | 7,652 | 7,652 | 7,748 |
Trading assets | Debt securities | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 2,242 | 2,334 | |
Transfers in, assets | 484 | 514 | |
Transfers out, assets | (874) | (429) | |
Purchases, assets | 1,597 | 1,656 | |
Sales, assets | (1,777) | (1,568) | |
Issuances, assets | 0 | 0 | |
Settlements, assets | 0 | (157) | |
Gain (loss) on transfers in/out included in trading revenues, assets | 16 | (10) | |
Gain (loss) on all other activity included in trading revenues, assets | 50 | (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 | (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 | (27) | 0 | |
Balance at end of period, assets | 1,711 | 1,711 | 2,314 |
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 | 1,260 | 1,412 | |
Transfers in, assets | 384 | 305 | |
Transfers out, assets | (568) | (279) | |
Purchases, assets | 1,055 | 1,181 | |
Sales, assets | (1,234) | (1,289) | |
Issuances, assets | 0 | 0 | |
Settlements, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in trading revenues, assets | 16 | (9) | |
Gain (loss) on all other activity included in trading revenues, assets | 6 | (97) | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | 0 | (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 | (18) | 13 | |
Balance at end of period, assets | 901 | 901 | 1,233 |
Trading assets | Debt securities | Debt securities issued by foreign governments | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 232 | ||
Transfers in, assets | 0 | ||
Transfers out, assets | (43) | ||
Purchases, assets | 68 | ||
Sales, assets | (56) | ||
Issuances, assets | 0 | ||
Settlements, assets | 0 | ||
Gain (loss) on transfers in/out included in trading revenues, assets | 3 | ||
Gain (loss) on all other activity included in trading revenues, assets | 3 | ||
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 | (1) | ||
Balance at end of period, assets | 206 | 206 | |
Trading assets | Debt securities | RMBS | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 432 | 360 | |
Transfers in, assets | 52 | 161 | |
Transfers out, assets | (216) | (124) | |
Purchases, assets | 421 | 442 | |
Sales, assets | (379) | (174) | |
Issuances, assets | 0 | 0 | |
Settlements, assets | 0 | (157) | |
Gain (loss) on transfers in/out included in trading revenues, assets | (1) | (1) | |
Gain (loss) on all other activity included in trading revenues, assets | 41 | 79 | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | (5) | 11 | |
Balance at end of period, assets | 345 | 345 | 597 |
Trading assets | Debt securities | CMBS | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 18 | ||
Transfers in, assets | 20 | ||
Transfers out, assets | (1) | ||
Purchases, assets | 3 | ||
Sales, assets | (13) | ||
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 | (5) | ||
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 | 22 | ||
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 | ||
Transfers in, assets | 14 | ||
Transfers out, assets | (13) | ||
Purchases, assets | 16 | ||
Sales, assets | (36) | ||
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 | 2 | ||
Balance at end of period, assets | 108 | ||
Trading assets | Equity securities | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 132 | 163 | |
Transfers in, assets | 39 | 40 | |
Transfers out, assets | (37) | (22) | |
Purchases, assets | 57 | 39 | |
Sales, assets | (38) | (81) | |
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 | 4 | 45 | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | 0 | (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 | (2) | 2 | |
Balance at end of period, assets | 155 | 155 | 182 |
Trading assets | Derivative instruments | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 3,298 | 3,289 | |
Transfers in, assets | 140 | 167 | |
Transfers out, assets | (417) | (182) | |
Purchases, assets | 0 | 0 | |
Sales, assets | 0 | 0 | |
Issuances, assets | 556 | 786 | |
Settlements, assets | (818) | (651) | |
Gain (loss) on transfers in/out included in trading revenues, assets | (88) | (26) | |
Gain (loss) on all other activity included in trading revenues, assets | 405 | (267) | |
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 | (42) | 0 | |
Balance at end of period, assets | 3,034 | 3,034 | 3,116 |
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 | 507 | 801 | |
Transfers in, assets | 23 | 11 | |
Transfers out, assets | (9) | (22) | |
Purchases, assets | 0 | 0 | |
Sales, assets | 0 | 0 | |
Issuances, assets | 52 | 61 | |
Settlements, assets | (42) | (45) | |
Gain (loss) on transfers in/out included in trading revenues, assets | 2 | 0 | |
Gain (loss) on all other activity included in trading revenues, assets | (6) | (92) | |
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 | (15) | (7) | |
Balance at end of period, assets | 512 | 512 | 707 |
Trading assets | Derivative instruments | Equity/Index-related products | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 1,054 | 833 | |
Transfers in, assets | 48 | 108 | |
Transfers out, assets | (333) | (115) | |
Purchases, assets | 0 | 0 | |
Sales, assets | 0 | 0 | |
Issuances, assets | 199 | 242 | |
Settlements, assets | (259) | (234) | |
Gain (loss) on transfers in/out included in trading revenues, assets | (84) | (17) | |
Gain (loss) on all other activity included in trading revenues, assets | 133 | (56) | |
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 | (6) | (14) | |
Balance at end of period, assets | 752 | 752 | 747 |
Trading assets | Derivative instruments | Credit derivatives | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 673 | 634 | |
Transfers in, assets | 58 | 45 | |
Transfers out, assets | (65) | (44) | |
Purchases, assets | 0 | 0 | |
Sales, assets | 0 | 0 | |
Issuances, assets | 150 | 310 | |
Settlements, assets | (360) | (130) | |
Gain (loss) on transfers in/out included in trading revenues, assets | (7) | (6) | |
Gain (loss) on all other activity included in trading revenues, assets | 211 | (77) | |
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) | 13 | |
Balance at end of period, assets | 653 | 653 | 745 |
Trading assets | Derivative instruments | Foreign exchange derivatives | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 258 | ||
Transfers in, assets | 11 | ||
Transfers out, assets | (10) | ||
Purchases, assets | 0 | ||
Sales, assets | 0 | ||
Issuances, assets | 8 | ||
Settlements, assets | (9) | ||
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | ||
Gain (loss) on all other activity included in trading revenues, assets | (30) | ||
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 | (3) | ||
Balance at end of period, assets | 225 | 225 | |
Trading assets | Derivative instruments | Other derivatives | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 806 | ||
Transfers in, assets | 0 | ||
Transfers out, assets | 0 | ||
Purchases, assets | 0 | ||
Sales, assets | 0 | ||
Issuances, assets | 147 | ||
Settlements, assets | (148) | ||
Gain (loss) on transfers in/out included in trading revenues, assets | 1 | ||
Gain (loss) on all other activity included in trading revenues, assets | 97 | ||
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 | (11) | ||
Balance at end of period, assets | 892 | 892 | |
Trading assets | Other | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 3,308 | 3,010 | |
Transfers in, assets | 42 | 22 | |
Transfers out, assets | (369) | (62) | |
Purchases, assets | 7,177 | 22,527 | |
Sales, assets | (7,620) | (23,478) | |
Issuances, assets | 0 | 0 | |
Settlements, assets | (20) | (18) | |
Gain (loss) on transfers in/out included in trading revenues, assets | (3) | 2 | |
Gain (loss) on all other activity included in trading revenues, assets | 262 | 107 | |
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 | (25) | 25 | |
Balance at end of period, assets | 2,752 | 2,752 | 2,136 |
Other investments | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 1,309 | 1,601 | |
Transfers in, assets | 48 | 0 | |
Transfers out, assets | (5) | (110) | |
Purchases, assets | 33 | 136 | |
Sales, assets | (110) | (236) | |
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 | 100 | (53) | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | 6 | 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 | (12) | 8 | |
Balance at end of period, assets | 1,369 | 1,369 | 1,348 |
Other investments | Life finance instruments | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 1,067 | 1,301 | |
Transfers in, assets | 0 | 0 | |
Transfers out, assets | 0 | 0 | |
Purchases, assets | 20 | 87 | |
Sales, assets | (88) | (152) | |
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 | 96 | (52) | |
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 | (10) | 17 | |
Balance at end of period, assets | 1,085 | 1,085 | 1,201 |
Other investments | Equity securities | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 300 | ||
Transfers in, assets | 0 | ||
Transfers out, assets | (110) | ||
Purchases, assets | 49 | ||
Sales, assets | (84) | ||
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 | 2 | ||
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 | (9) | ||
Balance at end of period, assets | 147 | ||
Loans | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 4,324 | 4,530 | |
Transfers in, assets | 296 | 493 | |
Transfers out, assets | (320) | (30) | |
Purchases, assets | 19 | 32 | |
Sales, assets | (190) | (187) | |
Issuances, assets | 769 | 824 | |
Settlements, assets | (726) | (1,403) | |
Gain (loss) on transfers in/out included in trading revenues, assets | 8 | 0 | |
Gain (loss) on all other activity included in trading revenues, assets | 20 | (103) | |
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 | (37) | 28 | |
Balance at end of period, assets | 4,163 | 4,163 | 4,184 |
Commercial and industrial loans | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 1,949 | 2,207 | |
Transfers in, assets | 81 | 57 | |
Transfers out, assets | (184) | (25) | |
Purchases, assets | 19 | 0 | |
Sales, assets | (118) | (30) | |
Issuances, assets | 76 | 366 | |
Settlements, assets | (198) | (707) | |
Gain (loss) on transfers in/out included in trading revenues, assets | 5 | 0 | |
Gain (loss) on all other activity included in trading revenues, assets | 1 | (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 | (13) | 13 | |
Balance at end of period, assets | 1,618 | 1,618 | 1,859 |
Financial institutions | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 1,391 | 1,480 | |
Transfers in, assets | 215 | 321 | |
Transfers out, assets | 0 | (5) | |
Purchases, assets | 0 | 31 | |
Sales, assets | (71) | (36) | |
Issuances, assets | 185 | 286 | |
Settlements, assets | (503) | (634) | |
Gain (loss) on transfers in/out included in trading revenues, assets | (1) | 0 | |
Gain (loss) on all other activity included in trading revenues, assets | 15 | (25) | |
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) | 8 | |
Balance at end of period, assets | 1,227 | 1,227 | 1,426 |
Governments and public institutions | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 446 | ||
Transfers in, assets | 0 | ||
Transfers out, assets | (58) | ||
Purchases, assets | 0 | ||
Sales, assets | (1) | ||
Issuances, assets | 248 | ||
Settlements, assets | (14) | ||
Gain (loss) on transfers in/out included in trading revenues, assets | 3 | ||
Gain (loss) on all other activity included in trading revenues, assets | (9) | ||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | ||
Gain (loss) on all other activity included in other revenues, assets | 0 | ||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | ||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | ||
Foreign currency translation impact, assets | (10) | ||
Balance at end of period, assets | 605 | 605 | |
Real estate | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 515 | ||
Transfers in, assets | 0 | ||
Transfers out, assets | (78) | ||
Purchases, assets | 0 | ||
Sales, assets | 0 | ||
Issuances, assets | 260 | ||
Settlements, assets | (11) | ||
Gain (loss) on transfers in/out included in trading revenues, assets | 1 | ||
Gain (loss) on all other activity included in trading revenues, assets | 10 | ||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | ||
Gain (loss) on all other activity included in other revenues, assets | 0 | ||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | ||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | ||
Foreign currency translation impact, assets | (10) | ||
Balance at end of period, assets | 687 | 687 | |
Other intangible assets | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 163 | 158 | |
Transfers in, assets | 0 | 0 | |
Transfers out, assets | 0 | 0 | |
Purchases, assets | 9 | 0 | |
Sales, assets | 0 | 0 | |
Issuances, assets | 0 | 0 | |
Settlements, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in trading revenues, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | (7) | (10) | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | (3) | 3 | |
Balance at end of period, assets | 162 | 162 | 151 |
Other assets | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 1,543 | 1,511 | |
Transfers in, assets | 102 | 201 | |
Transfers out, assets | (178) | (56) | |
Purchases, assets | 938 | 681 | |
Sales, assets | (808) | (716) | |
Issuances, assets | 290 | 142 | |
Settlements, assets | (178) | (130) | |
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in trading revenues, assets | 24 | (19) | |
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 | (15) | (54) | |
Balance at end of period, assets | 1,718 | 1,718 | 1,560 |
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 | 1,235 | 1,350 | |
Transfers in, assets | 96 | 174 | |
Transfers out, assets | (125) | (49) | |
Purchases, assets | 903 | 633 | |
Sales, assets | (805) | (673) | |
Issuances, assets | 290 | 142 | |
Settlements, assets | (178) | (130) | |
Gain (loss) on transfers in/out included in trading revenues, assets | 1 | 0 | |
Gain (loss) on all other activity included in trading revenues, assets | 45 | (35) | |
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) | (57) | |
Balance at end of period, assets | 1,449 | 1,449 | 1,355 |
Assets | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 16,349 | 16,642 | |
Transfers in, assets | 450 | 1,151 | 1,437 |
Transfers out, assets | (1,111) | (2,200) | (906) |
Purchases, assets | 9,830 | 25,129 | |
Sales, assets | (10,569) | (26,346) | |
Issuances, assets | 1,615 | 1,752 | |
Settlements, assets | (1,742) | (2,359) | |
Gain (loss) on transfers in/out included in trading revenues, assets | (67) | (37) | |
Gain (loss) on all other activity included in trading revenues, assets | 865 | (312) | |
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) | (12) | |
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 | (163) | 12 | |
Balance at end of period, assets | 15,068 | 15,068 | 15,000 |
Bank | Securities received as collateral | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 30 | 46 | |
Transfers in, assets | 0 | 0 | |
Transfers out, assets | 0 | (15) | |
Purchases, assets | 0 | 58 | |
Sales, assets | (26) | (80) | |
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 | 0 | |
Balance at end of period, assets | 4 | 4 | 9 |
Bank | Trading assets | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 8,980 | 8,796 | |
Transfers in, assets | 705 | 743 | |
Transfers out, assets | (1,697) | (695) | |
Purchases, assets | 8,831 | 24,222 | |
Sales, assets | (9,435) | (25,127) | |
Issuances, assets | 556 | 786 | |
Settlements, assets | (838) | (826) | |
Gain (loss) on transfers in/out included in trading revenues, assets | (75) | (37) | |
Gain (loss) on all other activity included in trading revenues, assets | 721 | (137) | |
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 | (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 | (96) | 27 | |
Balance at end of period, assets | 7,652 | 7,652 | 7,748 |
Bank | Trading assets | Debt securities | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 2,242 | 2,334 | |
Transfers in, assets | 484 | 514 | |
Transfers out, assets | (874) | (429) | |
Purchases, assets | 1,597 | 1,656 | |
Sales, assets | (1,777) | (1,568) | |
Issuances, assets | 0 | 0 | |
Settlements, assets | 0 | (157) | |
Gain (loss) on transfers in/out included in trading revenues, assets | 16 | (10) | |
Gain (loss) on all other activity included in trading revenues, assets | 50 | (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 | (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 | (27) | 0 | |
Balance at end of period, assets | 1,711 | 1,711 | 2,314 |
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 | 1,260 | 1,412 | |
Transfers in, assets | 384 | 305 | |
Transfers out, assets | (568) | (279) | |
Purchases, assets | 1,055 | 1,181 | |
Sales, assets | (1,234) | (1,289) | |
Issuances, assets | 0 | 0 | |
Settlements, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in trading revenues, assets | 16 | (9) | |
Gain (loss) on all other activity included in trading revenues, assets | 6 | (97) | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | 0 | (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 | (18) | 13 | |
Balance at end of period, assets | 901 | 901 | 1,233 |
Bank | Trading assets | Debt securities | Debt securities issued by foreign governments | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 232 | ||
Transfers in, assets | 0 | ||
Transfers out, assets | (43) | ||
Purchases, assets | 68 | ||
Sales, assets | (56) | ||
Issuances, assets | 0 | ||
Settlements, assets | 0 | ||
Gain (loss) on transfers in/out included in trading revenues, assets | 3 | ||
Gain (loss) on all other activity included in trading revenues, assets | 3 | ||
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 | (1) | ||
Balance at end of period, assets | 206 | 206 | |
Bank | Trading assets | Debt securities | RMBS | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 432 | 360 | |
Transfers in, assets | 52 | 161 | |
Transfers out, assets | (216) | (124) | |
Purchases, assets | 421 | 442 | |
Sales, assets | (379) | (174) | |
Issuances, assets | 0 | 0 | |
Settlements, assets | 0 | (157) | |
Gain (loss) on transfers in/out included in trading revenues, assets | (1) | (1) | |
Gain (loss) on all other activity included in trading revenues, assets | 41 | 79 | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | (5) | 11 | |
Balance at end of period, assets | 345 | 345 | 597 |
Bank | Trading assets | Debt securities | CMBS | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 18 | ||
Transfers in, assets | 20 | ||
Transfers out, assets | (1) | ||
Purchases, assets | 3 | ||
Sales, assets | (13) | ||
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 | (5) | ||
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 | 22 | ||
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 | ||
Transfers in, assets | 14 | ||
Transfers out, assets | (13) | ||
Purchases, assets | 16 | ||
Sales, assets | (36) | ||
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 | 2 | ||
Balance at end of period, assets | 108 | ||
Bank | Trading assets | Equity securities | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 132 | 163 | |
Transfers in, assets | 39 | 40 | |
Transfers out, assets | (37) | (22) | |
Purchases, assets | 57 | 39 | |
Sales, assets | (38) | (81) | |
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 | 4 | 45 | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | 0 | (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 | (2) | 2 | |
Balance at end of period, assets | 155 | 155 | 182 |
Bank | Trading assets | Derivative instruments | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 3,298 | 3,289 | |
Transfers in, assets | 140 | 167 | |
Transfers out, assets | (417) | (182) | |
Purchases, assets | 0 | 0 | |
Sales, assets | 0 | 0 | |
Issuances, assets | 556 | 786 | |
Settlements, assets | (818) | (651) | |
Gain (loss) on transfers in/out included in trading revenues, assets | (88) | (26) | |
Gain (loss) on all other activity included in trading revenues, assets | 405 | (267) | |
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 | (42) | 0 | |
Balance at end of period, assets | 3,034 | 3,034 | 3,116 |
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 | 507 | 801 | |
Transfers in, assets | 23 | 11 | |
Transfers out, assets | (9) | (22) | |
Purchases, assets | 0 | 0 | |
Sales, assets | 0 | 0 | |
Issuances, assets | 52 | 61 | |
Settlements, assets | (42) | (45) | |
Gain (loss) on transfers in/out included in trading revenues, assets | 2 | 0 | |
Gain (loss) on all other activity included in trading revenues, assets | (6) | (92) | |
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 | (15) | (7) | |
Balance at end of period, assets | 512 | 512 | 707 |
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 | 1,054 | 833 | |
Transfers in, assets | 48 | 108 | |
Transfers out, assets | (333) | (115) | |
Purchases, assets | 0 | 0 | |
Sales, assets | 0 | 0 | |
Issuances, assets | 199 | 242 | |
Settlements, assets | (259) | (234) | |
Gain (loss) on transfers in/out included in trading revenues, assets | (84) | (17) | |
Gain (loss) on all other activity included in trading revenues, assets | 133 | (56) | |
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 | (6) | (14) | |
Balance at end of period, assets | 752 | 752 | 747 |
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 | 673 | 634 | |
Transfers in, assets | 58 | 45 | |
Transfers out, assets | (65) | (44) | |
Purchases, assets | 0 | 0 | |
Sales, assets | 0 | 0 | |
Issuances, assets | 150 | 310 | |
Settlements, assets | (360) | (130) | |
Gain (loss) on transfers in/out included in trading revenues, assets | (7) | (6) | |
Gain (loss) on all other activity included in trading revenues, assets | 211 | (77) | |
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) | 13 | |
Balance at end of period, assets | 653 | 653 | 745 |
Bank | Trading assets | Derivative instruments | Foreign exchange derivatives | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 258 | ||
Transfers in, assets | 11 | ||
Transfers out, assets | (10) | ||
Purchases, assets | 0 | ||
Sales, assets | 0 | ||
Issuances, assets | 8 | ||
Settlements, assets | (9) | ||
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | ||
Gain (loss) on all other activity included in trading revenues, assets | (30) | ||
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 | (3) | ||
Balance at end of period, assets | 225 | 225 | |
Bank | Trading assets | Derivative instruments | Other derivatives | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 806 | ||
Transfers in, assets | 0 | ||
Transfers out, assets | 0 | ||
Purchases, assets | 0 | ||
Sales, assets | 0 | ||
Issuances, assets | 147 | ||
Settlements, assets | (148) | ||
Gain (loss) on transfers in/out included in trading revenues, assets | 1 | ||
Gain (loss) on all other activity included in trading revenues, assets | 97 | ||
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 | (11) | ||
Balance at end of period, assets | 892 | 892 | |
Bank | Trading assets | Other | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 3,308 | 3,010 | |
Transfers in, assets | 42 | 22 | |
Transfers out, assets | (369) | (62) | |
Purchases, assets | 7,177 | 22,527 | |
Sales, assets | (7,620) | (23,478) | |
Issuances, assets | 0 | 0 | |
Settlements, assets | (20) | (18) | |
Gain (loss) on transfers in/out included in trading revenues, assets | (3) | 2 | |
Gain (loss) on all other activity included in trading revenues, assets | 262 | 107 | |
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 | (25) | 25 | |
Balance at end of period, assets | 2,752 | 2,752 | 2,136 |
Bank | Other investments | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 1,309 | 1,601 | |
Transfers in, assets | 48 | 0 | |
Transfers out, assets | (5) | (109) | |
Purchases, assets | 33 | 135 | |
Sales, assets | (110) | (236) | |
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 | 100 | (53) | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | 6 | 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 | (12) | 8 | |
Balance at end of period, assets | 1,369 | 1,369 | 1,348 |
Bank | Other investments | Life finance instruments | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 1,067 | 1,301 | |
Transfers in, assets | 0 | 0 | |
Transfers out, assets | 0 | 0 | |
Purchases, assets | 20 | 87 | |
Sales, assets | (88) | (152) | |
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 | 96 | (52) | |
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 | (10) | 17 | |
Balance at end of period, assets | 1,085 | 1,085 | 1,201 |
Bank | Other investments | Equity securities | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 300 | ||
Transfers in, assets | 0 | ||
Transfers out, assets | (109) | ||
Purchases, assets | 48 | ||
Sales, assets | (84) | ||
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 | 2 | ||
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 | (9) | ||
Balance at end of period, assets | 147 | ||
Bank | Loans | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 4,324 | 4,530 | |
Transfers in, assets | 296 | 493 | |
Transfers out, assets | (320) | (30) | |
Purchases, assets | 19 | 32 | |
Sales, assets | (190) | (187) | |
Issuances, assets | 769 | 824 | |
Settlements, assets | (726) | (1,403) | |
Gain (loss) on transfers in/out included in trading revenues, assets | 8 | 0 | |
Gain (loss) on all other activity included in trading revenues, assets | 20 | (103) | |
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 | (37) | 28 | |
Balance at end of period, assets | 4,163 | 4,163 | 4,184 |
Bank | Commercial and industrial loans | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 1,949 | 2,207 | |
Transfers in, assets | 81 | 57 | |
Transfers out, assets | (184) | (25) | |
Purchases, assets | 19 | 0 | |
Sales, assets | (118) | (30) | |
Issuances, assets | 76 | 366 | |
Settlements, assets | (198) | (707) | |
Gain (loss) on transfers in/out included in trading revenues, assets | 5 | 0 | |
Gain (loss) on all other activity included in trading revenues, assets | 1 | (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 | (13) | 13 | |
Balance at end of period, assets | 1,618 | 1,618 | 1,859 |
Bank | Financial institutions | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 1,391 | 1,480 | |
Transfers in, assets | 215 | 321 | |
Transfers out, assets | 0 | (5) | |
Purchases, assets | 0 | 31 | |
Sales, assets | (71) | (36) | |
Issuances, assets | 185 | 286 | |
Settlements, assets | (503) | (634) | |
Gain (loss) on transfers in/out included in trading revenues, assets | (1) | 0 | |
Gain (loss) on all other activity included in trading revenues, assets | 15 | (25) | |
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) | 8 | |
Balance at end of period, assets | 1,227 | 1,227 | 1,426 |
Bank | Real estate | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 515 | ||
Transfers in, assets | 0 | ||
Transfers out, assets | (78) | ||
Purchases, assets | 0 | ||
Sales, assets | 0 | ||
Issuances, assets | 260 | ||
Settlements, assets | (11) | ||
Gain (loss) on transfers in/out included in trading revenues, assets | 1 | ||
Gain (loss) on all other activity included in trading revenues, assets | 10 | ||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | ||
Gain (loss) on all other activity included in other revenues, assets | 0 | ||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | ||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | ||
Foreign currency translation impact, assets | (10) | ||
Balance at end of period, assets | 687 | 687 | |
Bank | Other intangible assets | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 163 | 158 | |
Transfers in, assets | 0 | 0 | |
Transfers out, assets | 0 | 0 | |
Purchases, assets | 9 | 0 | |
Sales, assets | 0 | 0 | |
Issuances, assets | 0 | 0 | |
Settlements, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in trading revenues, assets | 0 | 0 | |
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, assets | (7) | (10) | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |
Foreign currency translation impact, assets | (3) | 3 | |
Balance at end of period, assets | 162 | 162 | 151 |
Bank | Other assets | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 1,543 | 1,511 | |
Transfers in, assets | 102 | 201 | |
Transfers out, assets | (178) | (56) | |
Purchases, assets | 938 | 681 | |
Sales, assets | (808) | (716) | |
Issuances, assets | 290 | 142 | |
Settlements, assets | (178) | (130) | |
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | 0 | |
Gain (loss) on all other activity included in trading revenues, assets | 24 | (19) | |
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 | (15) | (54) | |
Balance at end of period, assets | 1,718 | 1,718 | 1,560 |
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 | 1,235 | 1,350 | |
Transfers in, assets | 96 | 174 | |
Transfers out, assets | (125) | (49) | |
Purchases, assets | 903 | 633 | |
Sales, assets | (805) | (673) | |
Issuances, assets | 290 | 142 | |
Settlements, assets | (178) | (130) | |
Gain (loss) on transfers in/out included in trading revenues, assets | 1 | 0 | |
Gain (loss) on all other activity included in trading revenues, assets | 45 | (35) | |
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) | (57) | |
Balance at end of period, assets | 1,449 | 1,449 | 1,355 |
Bank | Assets | |||
Assets measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, assets | 16,349 | 16,642 | |
Transfers in, assets | 1,151 | 1,437 | |
Transfers out, assets | (2,200) | (905) | |
Purchases, assets | 9,830 | 25,128 | |
Sales, assets | (10,569) | (26,346) | |
Issuances, assets | 1,615 | 1,752 | |
Settlements, assets | (1,742) | (2,359) | |
Gain (loss) on transfers in/out included in trading revenues, assets | (67) | (37) | |
Gain (loss) on all other activity included in trading revenues, assets | 865 | (312) | |
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) | (12) | |
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 | (163) | 12 | |
Balance at end of period, assets | SFr 15,068 | SFr 15,068 | SFr 15,000 |
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, 2019 | Jun. 30, 2018 | |
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 453 | SFr 455 |
Transfers in, liabilities | 0 | 0 |
Transfers out, liabilities | 0 | 0 |
Purchases, liabilities | 0 | 0 |
Sales, liabilities | 0 | 0 |
Issuances, liabilities | 0 | 0 |
Settlements, liabilities | 0 | 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 | 31 | 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 | 32 | (21) |
Foreign currency translation impact, liabilities | (21) | (9) |
Balance at end of period, liabilities | 495 | 466 |
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 | 30 | 46 |
Transfers in, liabilities | 0 | 0 |
Transfers out, liabilities | 0 | (15) |
Purchases, liabilities | 0 | 58 |
Sales, liabilities | (26) | (80) |
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 | 0 |
Balance at end of period, liabilities | 4 | 9 |
Trading liabilities | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 3,589 | 3,226 |
Transfers in, liabilities | 195 | 226 |
Transfers out, liabilities | (405) | (288) |
Purchases, liabilities | 388 | 69 |
Sales, liabilities | (402) | (35) |
Issuances, liabilities | 1,091 | 926 |
Settlements, liabilities | (1,483) | (787) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 81 | (1) |
Gain (loss) on all other activity included in trading revenues, liabilities | 400 | (322) |
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 | (2) |
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 | (35) | 31 |
Balance at end of period, liabilities | 3,419 | 3,043 |
Trading liabilities | Debt securities | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 25 | |
Transfers in, liabilities | 9 | |
Transfers out, liabilities | (8) | |
Purchases, liabilities | 12 | |
Sales, liabilities | (32) | |
Issuances, liabilities | 0 | |
Settlements, liabilities | 0 | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 0 | |
Gain (loss) on all other activity included in trading revenues, liabilities | 0 | |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | |
Foreign currency translation impact, liabilities | 0 | |
Balance at end of period, liabilities | 6 | |
Trading liabilities | Equity securities | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 37 | |
Transfers in, liabilities | 9 | |
Transfers out, liabilities | 0 | |
Purchases, liabilities | 376 | |
Sales, liabilities | (368) | |
Issuances, liabilities | 0 | |
Settlements, liabilities | 0 | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 0 | |
Gain (loss) on all other activity included in trading revenues, liabilities | (1) | |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | |
Foreign currency translation impact, liabilities | 0 | |
Balance at end of period, liabilities | 53 | |
Trading liabilities | Derivative instruments | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 3,527 | 3,169 |
Transfers in, liabilities | 177 | 187 |
Transfers out, liabilities | (397) | (282) |
Purchases, liabilities | 0 | 1 |
Sales, liabilities | (2) | (3) |
Issuances, liabilities | 1,091 | 926 |
Settlements, liabilities | (1,483) | (787) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 81 | 2 |
Gain (loss) on all other activity included in trading revenues, liabilities | 401 | (295) |
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 | (35) | 30 |
Balance at end of period, liabilities | 3,360 | 2,948 |
Trading liabilities | Derivative instruments | Interest rate derivatives | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 189 | 317 |
Transfers in, liabilities | 5 | 13 |
Transfers out, liabilities | (2) | (5) |
Purchases, liabilities | 0 | 0 |
Sales, liabilities | 0 | 0 |
Issuances, liabilities | 21 | 120 |
Settlements, liabilities | (17) | (87) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 0 | 5 |
Gain (loss) on all other activity included in trading revenues, liabilities | 23 | (135) |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | 0 |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | 0 |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | 0 |
Foreign currency translation impact, liabilities | (3) | 2 |
Balance at end of period, liabilities | 216 | 230 |
Trading liabilities | Derivative instruments | Foreign exchange derivatives | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 160 | 100 |
Transfers in, liabilities | 14 | 19 |
Transfers out, liabilities | (10) | (1) |
Purchases, liabilities | 0 | 0 |
Sales, liabilities | 0 | 0 |
Issuances, liabilities | 2 | 44 |
Settlements, liabilities | (24) | (4) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | (1) | 0 |
Gain (loss) on all other activity included in trading revenues, liabilities | (9) | (1) |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | 0 |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | 0 |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | 0 |
Foreign currency translation impact, liabilities | 1 | 2 |
Balance at end of period, liabilities | 133 | 159 |
Trading liabilities | Derivative instruments | Equity/Index-related products | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 1,500 | 1,301 |
Transfers in, liabilities | 77 | 84 |
Transfers out, liabilities | (303) | (170) |
Purchases, liabilities | 0 | 0 |
Sales, liabilities | 0 | 0 |
Issuances, liabilities | 380 | 328 |
Settlements, liabilities | (504) | (339) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 78 | (7) |
Gain (loss) on all other activity included in trading revenues, liabilities | 239 | (76) |
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 | (18) | 8 |
Balance at end of period, liabilities | 1,449 | 1,129 |
Trading liabilities | Derivative instruments | Credit derivatives | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 1,140 | 898 |
Transfers in, liabilities | 81 | 72 |
Transfers out, liabilities | (81) | (106) |
Purchases, liabilities | 0 | 0 |
Sales, liabilities | 0 | 0 |
Issuances, liabilities | 551 | 309 |
Settlements, liabilities | (782) | (222) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 4 | 4 |
Gain (loss) on all other activity included in trading revenues, liabilities | 195 | (70) |
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 | (11) | 15 |
Balance at end of period, liabilities | 1,097 | 900 |
Short-term borrowings | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 784 | 845 |
Transfers in, liabilities | 122 | 133 |
Transfers out, liabilities | (178) | (55) |
Purchases, liabilities | 0 | 0 |
Sales, liabilities | 0 | 0 |
Issuances, liabilities | 789 | 1,474 |
Settlements, liabilities | (686) | (739) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 6 | (1) |
Gain (loss) on all other activity included in trading revenues, liabilities | 175 | (55) |
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 | (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 | 36 |
Foreign currency translation impact, liabilities | (15) | 32 |
Balance at end of period, liabilities | 997 | 1,665 |
Long-term debt | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 12,665 | 12,501 |
Transfers in, liabilities | 2,095 | 2,035 |
Transfers out, liabilities | (2,607) | (1,794) |
Purchases, liabilities | 0 | 0 |
Sales, liabilities | 0 | 0 |
Issuances, liabilities | 2,715 | 2,538 |
Settlements, liabilities | (2,334) | (2,014) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 101 | 3 |
Gain (loss) on all other activity included in trading revenues, liabilities | 1,224 | (382) |
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 | 4 | (2) |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | (7) | (128) |
Foreign currency translation impact, liabilities | (167) | 206 |
Balance at end of period, liabilities | 13,689 | 12,963 |
Long-term debt | Long-term debt - of which structured notes over one year and up to two years | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 528 | |
Transfers in, liabilities | 315 | |
Transfers out, liabilities | (228) | |
Purchases, liabilities | 0 | |
Sales, liabilities | 0 | |
Issuances, liabilities | 544 | |
Settlements, liabilities | (345) | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 11 | |
Gain (loss) on all other activity included in trading revenues, liabilities | 58 | |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 9 | |
Foreign currency translation impact, liabilities | (12) | |
Balance at end of period, liabilities | 880 | |
Long-term debt | Long-term debt - of which structured notes over two years | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 11,800 | 12,259 |
Transfers in, liabilities | 1,765 | 1,721 |
Transfers out, liabilities | (2,123) | (1,728) |
Purchases, liabilities | 0 | 0 |
Sales, liabilities | 0 | 0 |
Issuances, liabilities | 1,959 | 1,927 |
Settlements, liabilities | (1,954) | (1,721) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 77 | 4 |
Gain (loss) on all other activity included in trading revenues, liabilities | 1,148 | (370) |
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 | 4 | (2) |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | (15) | (129) |
Foreign currency translation impact, liabilities | (150) | 194 |
Balance at end of period, liabilities | 12,511 | 12,155 |
Long-term debt | Long-term debt - of which high-trigger instruments | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 6 | |
Transfers in, liabilities | 0 | |
Transfers out, liabilities | 0 | |
Purchases, liabilities | 0 | |
Sales, liabilities | 0 | |
Issuances, liabilities | (2) | |
Settlements, liabilities | 0 | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 0 | |
Gain (loss) on all other activity included in trading revenues, liabilities | 0 | |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | |
Foreign currency translation impact, liabilities | 0 | |
Balance at end of period, liabilities | 4 | |
Other liabilities | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 1,341 | 1,478 |
Transfers in, liabilities | 37 | 19 |
Transfers out, liabilities | (77) | (29) |
Purchases, liabilities | 35 | 7 |
Sales, liabilities | (57) | (115) |
Issuances, liabilities | 75 | 0 |
Settlements, liabilities | (285) | (356) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | (6) | (6) |
Gain (loss) on all other activity included in trading revenues, liabilities | 32 | (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 | 163 | 111 |
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 | (11) | 10 |
Balance at end of period, liabilities | 1,247 | 1,096 |
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 | |
Transfers in, liabilities | 12 | |
Transfers out, liabilities | (26) | |
Purchases, liabilities | 2 | |
Sales, liabilities | (107) | |
Issuances, liabilities | 0 | |
Settlements, liabilities | 0 | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 0 | |
Gain (loss) on all other activity included in trading revenues, liabilities | (6) | |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | |
Foreign currency translation impact, liabilities | 1 | |
Balance at end of period, liabilities | 99 | |
Liabilities | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 18,862 | 18,551 |
Transfers in, liabilities | 2,449 | 2,413 |
Transfers out, liabilities | (3,267) | (2,181) |
Purchases, liabilities | 423 | 134 |
Sales, liabilities | (485) | (230) |
Issuances, liabilities | 4,670 | 4,938 |
Settlements, liabilities | (4,788) | (3,896) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 182 | (5) |
Gain (loss) on all other activity included in trading revenues, liabilities | 1,862 | (741) |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 |
Gain (loss) on all other activity included in other revenues, liabilities | 163 | 104 |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 4 | (2) |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 25 | (113) |
Foreign currency translation impact, liabilities | (249) | 270 |
Balance at end of period, liabilities | 19,851 | 19,242 |
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 | 453 | 455 |
Transfers in, liabilities | 0 | 0 |
Transfers out, liabilities | 0 | 0 |
Purchases, liabilities | 0 | 0 |
Sales, liabilities | 0 | 0 |
Issuances, liabilities | 0 | 0 |
Settlements, liabilities | 0 | 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 | 31 | 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 | 32 | (21) |
Foreign currency translation impact, liabilities | (21) | (9) |
Balance at end of period, liabilities | 495 | 466 |
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 | 30 | 46 |
Transfers in, liabilities | 0 | 0 |
Transfers out, liabilities | 0 | (15) |
Purchases, liabilities | 0 | 58 |
Sales, liabilities | (26) | (80) |
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 | 0 |
Balance at end of period, liabilities | 4 | 9 |
Bank | Trading liabilities | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 3,589 | 3,226 |
Transfers in, liabilities | 195 | 226 |
Transfers out, liabilities | (405) | (288) |
Purchases, liabilities | 388 | 69 |
Sales, liabilities | (402) | (35) |
Issuances, liabilities | 1,091 | 926 |
Settlements, liabilities | (1,483) | (787) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 81 | (1) |
Gain (loss) on all other activity included in trading revenues, liabilities | 400 | (322) |
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 | (2) |
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 | (35) | 31 |
Balance at end of period, liabilities | 3,419 | 3,043 |
Bank | Trading liabilities | Debt securities | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 25 | |
Transfers in, liabilities | 9 | |
Transfers out, liabilities | (8) | |
Purchases, liabilities | 12 | |
Sales, liabilities | (32) | |
Issuances, liabilities | 0 | |
Settlements, liabilities | 0 | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 0 | |
Gain (loss) on all other activity included in trading revenues, liabilities | 0 | |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | |
Foreign currency translation impact, liabilities | 0 | |
Balance at end of period, liabilities | 6 | |
Bank | Trading liabilities | Equity securities | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 37 | |
Transfers in, liabilities | 9 | |
Transfers out, liabilities | 0 | |
Purchases, liabilities | 376 | |
Sales, liabilities | (368) | |
Issuances, liabilities | 0 | |
Settlements, liabilities | 0 | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 0 | |
Gain (loss) on all other activity included in trading revenues, liabilities | (1) | |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | |
Foreign currency translation impact, liabilities | 0 | |
Balance at end of period, liabilities | 53 | |
Bank | Trading liabilities | Derivative instruments | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 3,527 | 3,169 |
Transfers in, liabilities | 177 | 187 |
Transfers out, liabilities | (397) | (282) |
Purchases, liabilities | 0 | 1 |
Sales, liabilities | (2) | (3) |
Issuances, liabilities | 1,091 | 926 |
Settlements, liabilities | (1,483) | (787) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 81 | 2 |
Gain (loss) on all other activity included in trading revenues, liabilities | 401 | (295) |
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 | (35) | 30 |
Balance at end of period, liabilities | 3,360 | 2,948 |
Bank | Trading liabilities | Derivative instruments | Interest rate derivatives | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 189 | 317 |
Transfers in, liabilities | 5 | 13 |
Transfers out, liabilities | (2) | (5) |
Purchases, liabilities | 0 | 0 |
Sales, liabilities | 0 | 0 |
Issuances, liabilities | 21 | 120 |
Settlements, liabilities | (17) | (87) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 0 | 5 |
Gain (loss) on all other activity included in trading revenues, liabilities | 23 | (135) |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | 0 |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | 0 |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | 0 |
Foreign currency translation impact, liabilities | (3) | 2 |
Balance at end of period, liabilities | 216 | 230 |
Bank | Trading liabilities | Derivative instruments | Foreign exchange derivatives | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 160 | 100 |
Transfers in, liabilities | 14 | 19 |
Transfers out, liabilities | (10) | (1) |
Purchases, liabilities | 0 | 0 |
Sales, liabilities | 0 | 0 |
Issuances, liabilities | 2 | 44 |
Settlements, liabilities | (24) | (4) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | (1) | 0 |
Gain (loss) on all other activity included in trading revenues, liabilities | (9) | (1) |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | 0 |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | 0 |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | 0 |
Foreign currency translation impact, liabilities | 1 | 2 |
Balance at end of period, liabilities | 133 | 159 |
Bank | Trading liabilities | Derivative instruments | Equity/Index-related products | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 1,500 | 1,301 |
Transfers in, liabilities | 77 | 84 |
Transfers out, liabilities | (303) | (170) |
Purchases, liabilities | 0 | 0 |
Sales, liabilities | 0 | 0 |
Issuances, liabilities | 380 | 328 |
Settlements, liabilities | (504) | (339) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 78 | (7) |
Gain (loss) on all other activity included in trading revenues, liabilities | 239 | (76) |
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 | (18) | 8 |
Balance at end of period, liabilities | 1,449 | 1,129 |
Bank | Trading liabilities | Derivative instruments | Credit derivatives | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 1,140 | 898 |
Transfers in, liabilities | 81 | 72 |
Transfers out, liabilities | (81) | (106) |
Purchases, liabilities | 0 | 0 |
Sales, liabilities | 0 | 0 |
Issuances, liabilities | 551 | 309 |
Settlements, liabilities | (782) | (222) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 4 | 4 |
Gain (loss) on all other activity included in trading revenues, liabilities | 195 | (70) |
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 | (11) | 15 |
Balance at end of period, liabilities | 1,097 | 900 |
Bank | Short-term borrowings | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 784 | 845 |
Transfers in, liabilities | 122 | 133 |
Transfers out, liabilities | (178) | (55) |
Purchases, liabilities | 0 | 0 |
Sales, liabilities | 0 | 0 |
Issuances, liabilities | 789 | 1,474 |
Settlements, liabilities | (686) | (739) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 6 | (1) |
Gain (loss) on all other activity included in trading revenues, liabilities | 175 | (55) |
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 | (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 | 36 |
Foreign currency translation impact, liabilities | (15) | 32 |
Balance at end of period, liabilities | 997 | 1,665 |
Bank | Long-term debt | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 12,671 | 12,501 |
Transfers in, liabilities | 2,095 | 1,921 |
Transfers out, liabilities | (2,483) | (1,794) |
Purchases, liabilities | 0 | 0 |
Sales, liabilities | 0 | 0 |
Issuances, liabilities | 2,739 | 2,669 |
Settlements, liabilities | (2,334) | (2,014) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 101 | 3 |
Gain (loss) on all other activity included in trading revenues, liabilities | 1,209 | (402) |
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 | 4 | (2) |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | (7) | (128) |
Foreign currency translation impact, liabilities | (169) | 209 |
Balance at end of period, liabilities | 13,826 | 12,963 |
Bank | Long-term debt | Long-term debt - of which structured notes over one year and up to two years | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 528 | |
Transfers in, liabilities | 315 | |
Transfers out, liabilities | (228) | |
Purchases, liabilities | 0 | |
Sales, liabilities | 0 | |
Issuances, liabilities | 544 | |
Settlements, liabilities | (345) | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 11 | |
Gain (loss) on all other activity included in trading revenues, liabilities | 58 | |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 9 | |
Foreign currency translation impact, liabilities | (12) | |
Balance at end of period, liabilities | 880 | |
Bank | Long-term debt | Long-term debt - of which structured notes over two years | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 11,800 | 12,259 |
Transfers in, liabilities | 1,765 | 1,721 |
Transfers out, liabilities | (2,123) | (1,728) |
Purchases, liabilities | 0 | 0 |
Sales, liabilities | 0 | 0 |
Issuances, liabilities | 1,959 | 1,927 |
Settlements, liabilities | (1,954) | (1,721) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 77 | 4 |
Gain (loss) on all other activity included in trading revenues, liabilities | 1,148 | (370) |
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 | 4 | (2) |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | (15) | (129) |
Foreign currency translation impact, liabilities | (150) | 194 |
Balance at end of period, liabilities | 12,511 | 12,155 |
Bank | Long-term debt | Long-term debt - of which high-trigger instruments | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 6 | |
Transfers in, liabilities | 0 | |
Transfers out, liabilities | 0 | |
Purchases, liabilities | 0 | |
Sales, liabilities | 0 | |
Issuances, liabilities | (1) | |
Settlements, liabilities | 0 | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 0 | |
Gain (loss) on all other activity included in trading revenues, liabilities | 0 | |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | |
Foreign currency translation impact, liabilities | 0 | |
Balance at end of period, liabilities | 5 | |
Bank | Other liabilities | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 1,327 | 1,467 |
Transfers in, liabilities | 37 | 19 |
Transfers out, liabilities | (77) | (29) |
Purchases, liabilities | 35 | 7 |
Sales, liabilities | (57) | (115) |
Issuances, liabilities | 75 | 0 |
Settlements, liabilities | (280) | (354) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | (6) | (6) |
Gain (loss) on all other activity included in trading revenues, liabilities | 30 | (24) |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 |
Gain (loss) on all other activity included in other revenues, liabilities | 161 | 110 |
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 | (11) | 10 |
Balance at end of period, liabilities | 1,234 | 1,085 |
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 | |
Transfers in, liabilities | 12 | |
Transfers out, liabilities | (26) | |
Purchases, liabilities | 2 | |
Sales, liabilities | (107) | |
Issuances, liabilities | 0 | |
Settlements, liabilities | 0 | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 0 | |
Gain (loss) on all other activity included in trading revenues, liabilities | (6) | |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | |
Foreign currency translation impact, liabilities | 1 | |
Balance at end of period, liabilities | 99 | |
Bank | Liabilities | ||
Liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, liabilities | 18,854 | 18,540 |
Transfers in, liabilities | 2,449 | 2,299 |
Transfers out, liabilities | (3,143) | (2,181) |
Purchases, liabilities | 423 | 134 |
Sales, liabilities | (485) | (230) |
Issuances, liabilities | 4,694 | 5,069 |
Settlements, liabilities | (4,783) | (3,894) |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 182 | (5) |
Gain (loss) on all other activity included in trading revenues, liabilities | 1,845 | (762) |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 |
Gain (loss) on all other activity included in other revenues, liabilities | 161 | 103 |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 4 | (2) |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 25 | (113) |
Foreign currency translation impact, liabilities | (251) | 273 |
Balance at end of period, liabilities | SFr 19,975 | SFr 19,231 |
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, 2019 | Jun. 30, 2018 | |
Net assets/liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, net assets/liabilities | SFr (2,513) | SFr (1,909) |
Transfers in, net assets/liabilities | (1,298) | (976) |
Transfers out, net assets/liabilities | 1,067 | 1,275 |
Purchases, net assets/liabilities | 9,407 | 24,995 |
Sales, net assets/liabilities | (10,084) | (26,116) |
Issuances, net assets/liabilities | (3,055) | (3,186) |
Settlements, net assets/liabilities | 3,046 | 1,537 |
Gain (loss) on transfers in/out included in trading revenues, net assets/liabilities | (249) | (32) |
Gain (loss) on all other activity included in trading revenues, net assets/liabilities | (997) | 429 |
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 | (164) | (116) |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, net assets/liabilities | (4) | 2 |
Gain (loss) on all other activity included in accumulated other comprehensive income, net assets/liabilities | (25) | 113 |
Foreign currency translation impact, net assets/liabilities | 86 | (258) |
Balance at beginning of period, net assets/liabilities | (4,783) | (4,242) |
Bank | ||
Net assets/liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, net assets/liabilities | (2,505) | (1,898) |
Transfers in, net assets/liabilities | (1,298) | (862) |
Transfers out, net assets/liabilities | 943 | 1,276 |
Purchases, net assets/liabilities | 9,407 | 24,994 |
Sales, net assets/liabilities | (10,084) | (26,116) |
Issuances, net assets/liabilities | (3,079) | (3,317) |
Settlements, net assets/liabilities | 3,041 | 1,535 |
Gain (loss) on transfers in/out included in trading revenues, net assets/liabilities | (249) | (32) |
Gain (loss) on all other activity included in trading revenues, net assets/liabilities | (980) | 450 |
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 | (162) | (115) |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, net assets/liabilities | (4) | 2 |
Gain (loss) on all other activity included in accumulated other comprehensive income, net assets/liabilities | (25) | 113 |
Foreign currency translation impact, net assets/liabilities | 88 | (261) |
Balance at beginning of period, net assets/liabilities | SFr (4,907) | SFr (4,231) |
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, 2019 | Jun. 30, 2018 | |
Gains and losses on assets and liabilities | ||
Net realized/unrealized gains/(losses) included in net revenues | SFr (1,410) | SFr 281 |
Whereof: Unrealized gains/(losses) relating to assets and liabilities still held as of the reporting date | (966) | 30 |
Trading revenues | ||
Gains and losses on assets and liabilities | ||
Net realized/unrealized gains/(losses) included in net revenues | (1,246) | 397 |
Whereof: Unrealized gains/(losses) relating to assets and liabilities still held as of the reporting date | (1,075) | 27 |
Other revenues | ||
Gains and losses on assets and liabilities | ||
Net realized/unrealized gains/(losses) included in net revenues | (164) | (116) |
Whereof: Unrealized gains/(losses) relating to assets and liabilities still held as of the reporting date | 109 | 3 |
Bank | ||
Gains and losses on assets and liabilities | ||
Net realized/unrealized gains/(losses) included in net revenues | (1,391) | 303 |
Whereof: Unrealized gains/(losses) relating to assets and liabilities still held as of the reporting date | (965) | 32 |
Bank | Trading revenues | ||
Gains and losses on assets and liabilities | ||
Net realized/unrealized gains/(losses) included in net revenues | (1,229) | 418 |
Whereof: Unrealized gains/(losses) relating to assets and liabilities still held as of the reporting date | (1,074) | 30 |
Bank | Other revenues | ||
Gains and losses on assets and liabilities | ||
Net realized/unrealized gains/(losses) included in net revenues | (162) | (115) |
Whereof: Unrealized gains/(losses) relating to assets and liabilities still held as of the reporting date | SFr 109 | SFr 2 |
FI - Difference between fair va
FI - Difference between fair value and unpaid principle balances (Details 9) - CHF (SFr) SFr in Millions | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 |
Financial instruments | |||
Cash and Due from Banks | SFr 172 | SFr 71 | SFr 115 |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 82,286 | 81,730 | 81,818 |
Loans | 12,837 | 15,305 | 14,873 |
Other assets | 8,195 | 9,001 | 7,263 |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (9,195) | (9,745) | (14,828) |
Short-term borrowings | (10,237) | (9,514) | (8,068) |
Long-term debt | (71,648) | (69,411) | (63,935) |
Other liabilities | (7,613) | SFr (7,690) | (9,001) |
Aggregate fair value | |||
Loans | |||
Non-interest-earning loans | 720 | 640 | |
Financial instruments | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 82,286 | 81,818 | |
Loans | 12,837 | 14,873 | |
Other assets | 7,552 | 6,706 | |
Due to banks and customer deposits | (604) | (859) | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (9,195) | (14,828) | |
Short-term borrowings | (10,237) | (8,068) | |
Long-term debt | (71,648) | (63,935) | |
Other liabilities | (604) | (2,068) | |
Aggregate unpaid principal | |||
Loans | |||
Non-interest-earning loans | 3,395 | 3,493 | |
Financial instruments | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 82,143 | 81,637 | |
Loans | 13,303 | 15,441 | |
Other assets | 9,938 | 9,240 | |
Due to banks and customer deposits | (540) | (778) | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (9,196) | (14,827) | |
Short-term borrowings | (10,310) | (8,647) | |
Long-term debt | (74,171) | (70,883) | |
Other liabilities | (1,589) | (3,125) | |
Difference | |||
Loans | |||
Non-interest-earning loans, Difference | (2,675) | (2,853) | |
Financial instruments | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 143 | 181 | |
Loans | (466) | (568) | |
Other assets | (2,386) | (2,534) | |
Due to banks and customer deposits | (64) | (81) | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 1 | (1) | |
Short-term borrowings | 73 | 579 | |
Long-term debt | 2,523 | 6,948 | |
Other liabilities | 985 | 1,057 | |
Bank | |||
Financial instruments | |||
Cash and Due from Banks | 172 | 115 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 82,286 | 81,818 | |
Loans | 12,837 | 14,873 | |
Other assets | 8,195 | 7,263 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (9,304) | (14,828) | |
Short-term borrowings | (10,237) | (8,068) | |
Long-term debt | (70,703) | (63,027) | |
Other liabilities | (7,597) | (8,983) | |
Bank | Aggregate fair value | |||
Loans | |||
Non-interest-earning loans | 720 | 640 | |
Financial instruments | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 82,286 | 81,818 | |
Loans | 12,837 | 14,873 | |
Other assets | 7,552 | 6,706 | |
Due to banks and customer deposits | (604) | (859) | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (9,304) | (14,828) | |
Short-term borrowings | (10,237) | (8,068) | |
Long-term debt | (70,703) | (63,027) | |
Other liabilities | (604) | (2,068) | |
Bank | Aggregate unpaid principal | |||
Loans | |||
Non-interest-earning loans | 3,395 | 3,493 | |
Financial instruments | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 82,143 | 81,637 | |
Loans | 13,303 | 15,441 | |
Other assets | 9,938 | 9,240 | |
Due to banks and customer deposits | (540) | (778) | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (9,305) | (14,827) | |
Short-term borrowings | (10,310) | (8,647) | |
Long-term debt | (73,217) | (69,914) | |
Other liabilities | (1,589) | (3,125) | |
Bank | Difference | |||
Loans | |||
Non-interest-earning loans, Difference | (2,675) | (2,853) | |
Financial instruments | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 143 | 181 | |
Loans | (466) | (568) | |
Other assets | (2,386) | (2,534) | |
Due to banks and customer deposits | (64) | (81) | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 1 | (1) | |
Short-term borrowings | 73 | 579 | |
Long-term debt | 2,514 | 6,887 | |
Other liabilities | SFr 985 | SFr 1,057 |
FI - Gains_losses on financial
FI - Gains/losses on financial instruments (Details 10) - CHF (SFr) SFr in Millions | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Interest-bearing deposits with banks | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | SFr 15 | SFr 4 |
Net gains/(losses) of which related to credit risk - on assets | 6 | (3) |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | 1,495 | 1,107 |
Other investments | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | 223 | 200 |
Net gains/(losses) of which related to credit risk - on assets | 1 | (1) |
Loans | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | 558 | 288 |
Net gains/(losses) of which related to credit risk - on assets | 74 | (238) |
Other assets | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | 460 | 372 |
Net gains/(losses) of which related to credit risk - on assets | 111 | 88 |
Due to banks and customer deposits | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | (36) | (2) |
Net gains/(losses) of which related to credit risk - on liabilities | 0 | (12) |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | (389) | (394) |
Short-term borrowings | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | (559) | 1,968 |
Net gains/(losses) of which related to credit risk - on liabilities | 1 | (2) |
Long-term debt | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | (6,599) | 1,915 |
Net gains/(losses) of which related to credit risk - on liabilities | 3 | 37 |
Other liabilities | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | 76 | 100 |
Net gains/(losses) of which related to credit risk - on liabilities | 39 | 15 |
Bank | Interest-bearing deposits with banks | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | 15 | 4 |
Net gains/(losses) of which related to credit risk - on assets | 6 | (3) |
Bank | Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | 1,495 | 1,107 |
Bank | Other investments | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | 223 | 200 |
Net gains/(losses) of which related to credit risk - on assets | 1 | (1) |
Bank | Loans | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | 558 | 288 |
Net gains/(losses) of which related to credit risk - on assets | 74 | (238) |
Bank | Other assets | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | 460 | 372 |
Net gains/(losses) of which related to credit risk - on assets | 111 | 88 |
Bank | Due to banks and customer deposits | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | (36) | (2) |
Net gains/(losses) of which related to credit risk - on liabilities | 0 | (12) |
Bank | Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | (389) | (394) |
Bank | Short-term borrowings | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | (559) | 1,968 |
Net gains/(losses) of which related to credit risk - on liabilities | 1 | (2) |
Bank | Long-term debt | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | (6,230) | 1,799 |
Net gains/(losses) of which related to credit risk - on liabilities | 3 | 37 |
Bank | Other liabilities | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | 76 | 99 |
Net gains/(losses) of which related to credit risk - on liabilities | SFr 39 | SFr 15 |
FI - Fair value, unfunded commi
FI - Fair value, unfunded commitments, term of redemption conditions (Details 11) SFr in Millions | Jun. 30, 2019CHF (SFr) | Dec. 31, 2018CHF (SFr) |
Schedule of Investments, Fair Value Calculated Using Net Asset Value | ||
Non-redeemable | SFr 526 | SFr 612 |
Redeemable | 1,649 | 1,608 |
Total fair value | 2,175 | 2,220 |
Unfunded commitments | 174 | 180 |
Investments, Fair Value Calculated Using Net Asset Value, Additional Disclosures | ||
Nonredeemable attributable to non-controlling interest | SFr 38 | 102 |
Unfunded commitments attributable to non-controlling interest | 23 | |
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 75 | 107 |
Redeemable | 922 | 1,009 |
Total fair value | 997 | 1,116 |
Unfunded commitments | 59 | 53 |
Funds held in trading assets and liabilities | Debt funds | ||
Schedule of Investments, Fair Value Calculated Using Net Asset Value | ||
Non-redeemable | 13 | 12 |
Redeemable | 0 | 0 |
Total fair value | 13 | 12 |
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 | 62 | 103 |
Redeemable | 924 | 1,011 |
Total fair value | 986 | 1,114 |
Unfunded commitments | SFr 59 | SFr 53 |
Investments, Fair Value Calculated Using Net Asset Value, Additional Disclosures | ||
Percentage of investment subject to on demand redemption | 49.00% | 46.00% |
Percentage of investment subject to monthly redemption | 41.00% | 40.00% |
Percentage of investment subject to quarterly redemption | 10.00% | 13.00% |
Percentage of investment subject to annual redemption | 1.00% | |
Funds held in trading assets and liabilities | Equity funds sold short | ||
Schedule of Investments, Fair Value Calculated Using Net Asset Value | ||
Nonredeemable, liabilities | SFr 0 | SFr (8) |
Redeemable, liabilities | (2) | (2) |
Total fair value, liabilities | (2) | (10) |
Unfunded commitments | 0 | 0 |
Funds held in other investments | ||
Schedule of Investments, Fair Value Calculated Using Net Asset Value | ||
Non-redeemable | 451 | 505 |
Redeemable | 727 | 599 |
Total fair value | 1,178 | 1,104 |
Unfunded commitments | 115 | 127 |
Funds held in other investments | Hedge funds | ||
Schedule of Investments, Fair Value Calculated Using Net Asset Value | ||
Non-redeemable | 37 | 84 |
Redeemable | 208 | 72 |
Total fair value | 245 | 156 |
Unfunded commitments | SFr 0 | SFr 0 |
Investments, Fair Value Calculated Using Net Asset Value, Additional Disclosures | ||
Percentage of investment subject to on demand redemption | 8.00% | 35.00% |
Percentage of investment subject to monthly redemption | 61.00% | |
Percentage of investment subject to quarterly redemption | 31.00% | 65.00% |
Funds held in other investments | Private equity funds | ||
Schedule of Investments, Fair Value Calculated Using Net Asset Value | ||
Non-redeemable | SFr 366 | SFr 369 |
Redeemable | 11 | 5 |
Total fair value | 377 | 374 |
Unfunded commitments | 101 | 106 |
Funds held in other investments | Equity method investments | ||
Schedule of Investments, Fair Value Calculated Using Net Asset Value | ||
Non-redeemable | 48 | 52 |
Redeemable | 508 | 522 |
Total fair value | 556 | 574 |
Unfunded commitments | 14 | 21 |
Funds held in other investments | Debt funds | Hedge funds | ||
Schedule of Investments, Fair Value Calculated Using Net Asset Value | ||
Non-redeemable | 1 | 68 |
Redeemable | 51 | 34 |
Total fair value | 52 | 102 |
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 | 35 | 14 |
Redeemable | 13 | 14 |
Total fair value | 48 | 28 |
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 | 129 | 130 |
Redeemable | 0 | 0 |
Total fair value | 129 | 130 |
Unfunded commitments | 45 | 43 |
Funds held in other investments | Real estate funds | Private equity funds | ||
Schedule of Investments, Fair Value Calculated Using Net Asset Value | ||
Non-redeemable | 201 | 214 |
Redeemable | 0 | 0 |
Total fair value | 201 | 214 |
Unfunded commitments | 29 | 34 |
Funds held in other investments | Others | Hedge funds | ||
Schedule of Investments, Fair Value Calculated Using Net Asset Value | ||
Non-redeemable | 1 | 2 |
Redeemable | 144 | 24 |
Total fair value | 145 | 26 |
Unfunded commitments | 0 | 0 |
Funds held in other investments | Others | Private equity funds | ||
Schedule of Investments, Fair Value Calculated Using Net Asset Value | ||
Non-redeemable | 35 | 24 |
Redeemable | 11 | 5 |
Total fair value | 46 | 29 |
Unfunded commitments | 27 | 29 |
Bank | ||
Schedule of Investments, Fair Value Calculated Using Net Asset Value | ||
Non-redeemable | 523 | 608 |
Redeemable | 1,650 | 1,608 |
Total fair value | 2,173 | 2,216 |
Unfunded commitments | 173 | 179 |
Investments, Fair Value Calculated Using Net Asset Value, Additional Disclosures | ||
Nonredeemable attributable to non-controlling interest | 38 | 102 |
Unfunded commitments attributable to non-controlling interest | 23 | |
Bank | Funds held in trading assets and liabilities | ||
Schedule of Investments, Fair Value Calculated Using Net Asset Value | ||
Non-redeemable | 75 | 107 |
Redeemable | 922 | 1,009 |
Total fair value | 997 | 1,116 |
Unfunded commitments | 59 | 53 |
Bank | Funds held in trading assets and liabilities | Debt funds | ||
Schedule of Investments, Fair Value Calculated Using Net Asset Value | ||
Non-redeemable | 13 | 12 |
Redeemable | 0 | 0 |
Total fair value | 13 | 12 |
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 | 62 | 103 |
Redeemable | 924 | 1,011 |
Total fair value | 986 | 1,114 |
Unfunded commitments | SFr 59 | SFr 53 |
Investments, Fair Value Calculated Using Net Asset Value, Additional Disclosures | ||
Percentage of investment subject to on demand redemption | 49.00% | 46.00% |
Percentage of investment subject to monthly redemption | 41.00% | 40.00% |
Percentage of investment subject to quarterly redemption | 10.00% | 13.00% |
Percentage of investment subject to annual redemption | 1.00% | |
Bank | Funds held in trading assets and liabilities | Equity funds sold short | ||
Schedule of Investments, Fair Value Calculated Using Net Asset Value | ||
Nonredeemable, liabilities | SFr 0 | SFr (8) |
Redeemable, liabilities | (2) | (2) |
Total fair value, liabilities | (2) | (10) |
Unfunded commitments | 0 | 0 |
Bank | Funds held in other investments | ||
Schedule of Investments, Fair Value Calculated Using Net Asset Value | ||
Non-redeemable | 448 | 501 |
Redeemable | 728 | 599 |
Total fair value | 1,176 | 1,100 |
Unfunded commitments | 114 | 126 |
Bank | Funds held in other investments | Hedge funds | ||
Schedule of Investments, Fair Value Calculated Using Net Asset Value | ||
Non-redeemable | 37 | 84 |
Redeemable | 208 | 72 |
Total fair value | 245 | 156 |
Unfunded commitments | SFr 0 | SFr 0 |
Investments, Fair Value Calculated Using Net Asset Value, Additional Disclosures | ||
Percentage of investment subject to on demand redemption | 8.00% | 35.00% |
Percentage of investment subject to monthly redemption | 61.00% | |
Percentage of investment subject to quarterly redemption | 31.00% | 65.00% |
Bank | Funds held in other investments | Private equity funds | ||
Schedule of Investments, Fair Value Calculated Using Net Asset Value | ||
Non-redeemable | SFr 364 | SFr 365 |
Redeemable | 11 | 5 |
Total fair value | 375 | 370 |
Unfunded commitments | 100 | 105 |
Bank | Funds held in other investments | Equity method investments | ||
Schedule of Investments, Fair Value Calculated Using Net Asset Value | ||
Non-redeemable | 47 | 52 |
Redeemable | 509 | 522 |
Total fair value | 556 | 574 |
Unfunded commitments | 14 | 21 |
Bank | Funds held in other investments | Debt funds | Hedge funds | ||
Schedule of Investments, Fair Value Calculated Using Net Asset Value | ||
Non-redeemable | 1 | 68 |
Redeemable | 51 | 34 |
Total fair value | 52 | 102 |
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 | 35 | 14 |
Redeemable | 13 | 14 |
Total fair value | 48 | 28 |
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 | 126 | 126 |
Redeemable | 0 | 0 |
Total fair value | 126 | 126 |
Unfunded commitments | 44 | 42 |
Bank | Funds held in other investments | Real estate funds | Private equity funds | ||
Schedule of Investments, Fair Value Calculated Using Net Asset Value | ||
Non-redeemable | 201 | 214 |
Redeemable | 0 | 0 |
Total fair value | 201 | 214 |
Unfunded commitments | 29 | 34 |
Bank | Funds held in other investments | Others | Hedge funds | ||
Schedule of Investments, Fair Value Calculated Using Net Asset Value | ||
Non-redeemable | 1 | 2 |
Redeemable | 144 | 24 |
Total fair value | 145 | 26 |
Unfunded commitments | 0 | 0 |
Bank | Funds held in other investments | Others | Private equity funds | ||
Schedule of Investments, Fair Value Calculated Using Net Asset Value | ||
Non-redeemable | 36 | 24 |
Redeemable | 11 | 5 |
Total fair value | 47 | 29 |
Unfunded commitments | SFr 27 | SFr 29 |
FI - Quantitative information a
FI - Quantitative information about level 3 assets at fair value (Details 15) SFr in Millions, Pure in Millions | Jun. 30, 2019CHF (SFr) | Mar. 31, 2019CHF (SFr) | Dec. 31, 2018CHF (SFr) |
Assets | |||
Cash and Due from Banks | SFr 172 | SFr 71 | SFr 115 |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 82,286 | 81,730 | 81,818 |
Securities received as collateral | 45,378 | 49,472 | 41,696 |
Trading assets | 145,613 | 144,922 | 133,635 |
Investment securities | 1,398 | 1,716 | 1,479 |
Other investments | 2,574 | 2,364 | 2,434 |
Loans | 12,837 | 15,305 | 14,873 |
Other intangible assets (mortgage servicing rights), at fair value | 162 | 168 | 163 |
Other assets | 8,195 | SFr 9,001 | 7,263 |
Recurring basis | |||
Assets | |||
Cash and Due from Banks | 172 | 115 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 82,286 | 81,818 | |
Securities received as collateral | 45,378 | 41,696 | |
Trading assets | 145,613 | 133,635 | |
Investment securities | 1,398 | 1,479 | |
Other investments | 2,574 | 2,434 | |
Loans | 12,837 | 14,873 | |
Loans - of which commercial and industrial | 5,179 | 5,925 | |
Loans - of which financial institutions | 3,932 | 5,555 | |
Loans - of which government and public institutions | 2,780 | ||
Loans - of which real estate | 920 | 661 | |
Other intangible assets (mortgage servicing rights), at fair value | 162 | 163 | |
Other assets | 8,195 | 7,263 | |
Other assets - of which loans held-for-sale | 6,329 | 5,473 | |
Total assets at fair value | 298,615 | 283,476 | |
Recurring basis | Life finance instruments | |||
Assets | |||
Other investments | 1,086 | 1,067 | |
Recurring basis | Debt securities | |||
Assets | |||
Trading assets | 64,468 | 63,567 | |
Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Assets | |||
Trading assets | 26,489 | 28,321 | |
Recurring basis | Debt securities | Corporate debt securities | |||
Assets | |||
Trading assets | 13,514 | 9,322 | |
Recurring basis | Debt securities | RMBS | |||
Assets | |||
Trading assets | 19,883 | 21,351 | |
Recurring basis | Equity securities | |||
Assets | |||
Trading assets | 56,317 | 46,463 | |
Recurring basis | Derivative instruments | |||
Assets | |||
Trading assets | 19,561 | 18,312 | |
Recurring basis | Other | |||
Assets | |||
Trading assets | 5,267 | 5,293 | |
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 | 4 | 30 | |
Trading assets | 7,652 | 8,980 | |
Investment securities | 0 | 0 | |
Other investments | 1,369 | 1,309 | |
Loans | 4,163 | 4,324 | |
Loans - of which commercial and industrial | 1,618 | 1,949 | |
Loans - of which financial institutions | 1,227 | 1,391 | |
Loans - of which government and public institutions | 605 | ||
Loans - of which real estate | 687 | 515 | |
Other intangible assets (mortgage servicing rights), at fair value | 162 | 163 | |
Other assets | 1,718 | 1,543 | |
Other assets - of which loans held-for-sale | 1,449 | 1,235 | |
Total assets at fair value | 15,068 | 16,349 | |
Level 3 | Recurring basis | Valuation Technique, Discounted Cash Flow [Member] | |||
Assets | |||
Loans - of which commercial and industrial | 1,313 | 1,531 | |
Loans - of which financial institutions | SFr 1,057 | 1,157 | |
Loans - of which government and public institutions, measurement input | 437 | ||
Other assets - of which loans held-for-sale | SFr 545 | SFr 422 | |
Level 3 | Recurring basis | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Minimum | |||
Assets | |||
Loans - of which commercial and industrial, measurement input | 165 | 159 | |
Loans - of which financial institutions, measurement input | 51 | 88 | |
Loans - of which government and public institutions, measurement input | 515 | ||
Loans - of which real estate, measurement input | 223 | 200 | |
Other assets - of which loans held-for-sale, measurement input | 112 | 105 | |
Level 3 | Recurring basis | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Maximum | |||
Assets | |||
Loans - of which commercial and industrial, measurement input | 1,699 | 1,184 | |
Loans - of which financial institutions, measurement input | 778 | 1,071 | |
Loans - of which government and public institutions, measurement input | 595 | ||
Loans - of which real estate, measurement input | 1,062 | 1,522 | |
Other assets - of which loans held-for-sale, measurement input | 3,020 | 2,730 | |
Level 3 | Recurring basis | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Weighted average | |||
Assets | |||
Loans - of which commercial and industrial, measurement input | 547 | 582 | |
Loans - of which financial institutions, measurement input | 348 | 596 | |
Loans - of which government and public institutions, measurement input | 562 | ||
Loans - of which real estate, measurement input | 669 | 612 | |
Other assets - of which loans held-for-sale, measurement input | 387 | 394 | |
Level 3 | Recurring basis | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Minimum | |||
Assets | |||
Loans - of which commercial and industrial, measurement input | 25 | ||
Loans - of which government and public institutions, measurement input | 25 | ||
Loans - of which real estate, measurement input | 25 | 25 | |
Other assets - of which loans held-for-sale, measurement input | 25 | 25 | |
Level 3 | Recurring basis | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Maximum | |||
Assets | |||
Loans - of which commercial and industrial, measurement input | 25 | ||
Loans - of which government and public institutions, measurement input | 40 | ||
Loans - of which real estate, measurement input | 40 | 40 | |
Other assets - of which loans held-for-sale, measurement input | 87 | 87 | |
Level 3 | Recurring basis | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Weighted average | |||
Assets | |||
Loans - of which commercial and industrial, measurement input | 25 | ||
Loans - of which government and public institutions, measurement input | 30 | ||
Loans - of which real estate, measurement input | 40 | 39 | |
Other assets - of which loans held-for-sale, measurement input | 37 | 56 | |
Level 3 | Recurring basis | Market comparable | |||
Assets | |||
Loans - of which commercial and industrial | SFr 280 | SFr 306 | |
Loans - of which financial institutions | SFr 100 | 73 | |
Loans - of which government and public institutions, measurement input | 167 | ||
Other assets - of which loans held-for-sale | SFr 854 | SFr 739 | |
Level 3 | Recurring basis | Market comparable | Measurement Input, Price Volatility [Member] | Minimum | |||
Assets | |||
Loans - of which commercial and industrial, measurement input | 0 | 0 | |
Loans - of which financial institutions, measurement input | 49 | 1 | |
Loans - of which government and public institutions, measurement input | 62 | ||
Other assets - of which loans held-for-sale, measurement input | 0 | 0 | |
Level 3 | Recurring basis | Market comparable | Measurement Input, Price Volatility [Member] | Maximum | |||
Assets | |||
Loans - of which commercial and industrial, measurement input | 94 | 99 | |
Loans - of which financial institutions, measurement input | 100 | 100 | |
Loans - of which government and public institutions, measurement input | 62 | ||
Other assets - of which loans held-for-sale, measurement input | 175 | 130 | |
Level 3 | Recurring basis | Market comparable | Measurement Input, Price Volatility [Member] | Weighted average | |||
Assets | |||
Loans - of which commercial and industrial, measurement input | 52 | 65 | |
Loans - of which financial institutions, measurement input | 95 | 74 | |
Loans - of which government and public institutions, measurement input | 62 | ||
Other assets - of which loans held-for-sale, measurement input | 82 | 82 | |
Level 3 | Recurring basis | Life finance instruments | |||
Assets | |||
Other investments | SFr 1,085 | SFr 1,067 | |
Level 3 | Recurring basis | Debt securities | |||
Assets | |||
Trading assets | 1,711 | 2,242 | |
Level 3 | Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Assets | |||
Trading assets | SFr 206 | SFr 232 | |
Level 3 | Recurring basis | Debt securities | Debt securities issued by foreign governments | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 140 | 140 | |
Level 3 | Recurring basis | Debt securities | Debt securities issued by foreign governments | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 140 | 140 | |
Level 3 | Recurring basis | Debt securities | Debt securities issued by foreign governments | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 140 | 140 | |
Level 3 | Recurring basis | Debt securities | Corporate debt securities | |||
Assets | |||
Trading assets | SFr 901 | SFr 1,260 | |
Level 3 | Recurring basis | Debt securities | Corporate debt securities | Option model | |||
Assets | |||
Trading assets | SFr 893 | SFr 621 | |
Level 3 | Recurring basis | Debt securities | Corporate debt securities | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Correlation [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | (80) | (60) | |
Level 3 | Recurring basis | Debt securities | Corporate debt securities | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Correlation [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 99 | 98 | |
Level 3 | Recurring basis | Debt securities | Corporate debt securities | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Correlation [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 63 | 68 | |
Level 3 | Recurring basis | Debt securities | Corporate debt securities | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Volatility [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | 0 | |
Level 3 | Recurring basis | Debt securities | Corporate debt securities | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Volatility [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 126 | 178 | |
Level 3 | Recurring basis | Debt securities | Corporate debt securities | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Volatility [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 26 | 30 | |
Level 3 | Recurring basis | Debt securities | Corporate debt securities | Market comparable | |||
Assets | |||
Trading assets | SFr 365 | SFr 441 | |
Level 3 | Recurring basis | Debt securities | Corporate debt securities | Market comparable | Measurement Input, Price Volatility [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | 0 | |
Level 3 | Recurring basis | Debt securities | Corporate debt securities | Market comparable | Measurement Input, Price Volatility [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 126 | 118 | |
Level 3 | Recurring basis | Debt securities | Corporate debt securities | Market comparable | Measurement Input, Price Volatility [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 91 | 94 | |
Level 3 | Recurring basis | Debt securities | RMBS | |||
Assets | |||
Trading assets | SFr 345 | SFr 432 | |
Level 3 | Recurring basis | Debt securities | RMBS | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Default Rate [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | 0 | |
Level 3 | Recurring basis | Debt securities | RMBS | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Default Rate [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 10 | 11 | |
Level 3 | Recurring basis | Debt securities | RMBS | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Default Rate [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 3 | 3 | |
Level 3 | Recurring basis | Debt securities | RMBS | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 2 | 1 | |
Level 3 | Recurring basis | Debt securities | RMBS | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 34 | 26 | |
Level 3 | Recurring basis | Debt securities | RMBS | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 8 | 7 | |
Level 3 | Recurring basis | Debt securities | RMBS | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Loss Severity [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | 0 | |
Level 3 | Recurring basis | Debt securities | RMBS | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Loss Severity [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 100 | 100 | |
Level 3 | Recurring basis | Debt securities | RMBS | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Loss Severity [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 64 | 63 | |
Level 3 | Recurring basis | Debt securities | RMBS | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Prepayment Rate [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 2 | 1 | |
Level 3 | Recurring basis | Debt securities | RMBS | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Prepayment Rate [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 20 | 22 | |
Level 3 | Recurring basis | Debt securities | RMBS | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Prepayment Rate [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 8 | 8 | |
Level 3 | Recurring basis | Equity securities | |||
Assets | |||
Trading assets | SFr 155 | SFr 132 | |
Level 3 | Recurring basis | Equity securities | Vendor price | |||
Assets | |||
Trading assets | SFr 113 | SFr 49 | |
Level 3 | Recurring basis | Equity securities | Vendor price | Measurement Input, Price Volatility [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | 0 | |
Level 3 | Recurring basis | Equity securities | Vendor price | Measurement Input, Price Volatility [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 498 | 355 | |
Level 3 | Recurring basis | Equity securities | Vendor price | Measurement Input, Price Volatility [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 8 | 1 | |
Level 3 | Recurring basis | Equity securities | Market comparable | |||
Assets | |||
Trading assets | SFr 7 | SFr 76 | |
Level 3 | Recurring basis | Equity securities | Market comparable | Measurement Input, EBITDA Multiple [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 2 | ||
Level 3 | Recurring basis | Equity securities | Market comparable | Measurement Input, EBITDA Multiple [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 9 | ||
Level 3 | Recurring basis | Equity securities | Market comparable | Measurement Input, EBITDA Multiple [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 6 | ||
Level 3 | Recurring basis | Equity securities | Market comparable | Measurement Input, Price Volatility [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 10 | 100 | |
Level 3 | Recurring basis | Equity securities | Market comparable | Measurement Input, Price Volatility [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 12 | 100 | |
Level 3 | Recurring basis | Equity securities | Market comparable | Measurement Input, Price Volatility [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 11 | 100 | |
Level 3 | Recurring basis | Derivative instruments | |||
Assets | |||
Trading assets | SFr 3,034 | SFr 3,298 | |
Level 3 | Recurring basis | Derivative instruments | Interest rate derivatives | |||
Assets | |||
Trading assets | SFr 512 | SFr 507 | |
Level 3 | Recurring basis | Derivative instruments | Interest rate derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Correlation [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | (3) | 0 | |
Level 3 | Recurring basis | Derivative instruments | Interest rate derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Correlation [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 100 | 100 | |
Level 3 | Recurring basis | Derivative instruments | Interest rate derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Correlation [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 65 | 69 | |
Level 3 | Recurring basis | Derivative instruments | Interest rate derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Prepayment Rate [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 1 | 1 | |
Level 3 | Recurring basis | Derivative instruments | Interest rate derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Prepayment Rate [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 17 | 26 | |
Level 3 | Recurring basis | Derivative instruments | Interest rate derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Prepayment Rate [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 8 | 9 | |
Level 3 | Recurring basis | Derivative instruments | Interest rate derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Volatility skew [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | (4) | (4) | |
Level 3 | Recurring basis | Derivative instruments | Interest rate derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Volatility skew [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 1 | 0 | |
Level 3 | Recurring basis | Derivative instruments | Interest rate derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Volatility skew [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | (2) | (2) | |
Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | |||
Assets | |||
Trading assets | SFr 225 | SFr 258 | |
Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Option model | |||
Assets | |||
Trading assets | 162 | 218 | |
Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Discounted Cash Flow [Member] | |||
Assets | |||
Trading assets | SFr 21 | SFr 28 | |
Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Contingent probability [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 95 | 95 | |
Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Contingent probability [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 95 | 95 | |
Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Contingent probability [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 95 | 95 | |
Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Correlation [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 5 | (23) | |
Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Correlation [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 38 | 70 | |
Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Correlation [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 26 | 24 | |
Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Prepayment Rate [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 22 | 21 | |
Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Prepayment Rate [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 26 | 26 | |
Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Prepayment Rate [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 24 | 23 | |
Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Volatility [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 78 | 80 | |
Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Volatility [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 90 | 90 | |
Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Volatility [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 85 | 85 | |
Level 3 | Recurring basis | Derivative instruments | Equity/Index-related products | |||
Assets | |||
Trading assets | SFr 752 | SFr 1,054 | |
Level 3 | Recurring basis | Derivative instruments | Equity/Index-related products | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Buyback probability [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 50 | 50 | |
Level 3 | Recurring basis | Derivative instruments | Equity/Index-related products | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Buyback probability [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 100 | 100 | |
Level 3 | Recurring basis | Derivative instruments | Equity/Index-related products | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Buyback probability [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 73 | 74 | |
Level 3 | Recurring basis | Derivative instruments | Equity/Index-related products | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Correlation [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | (80) | (40) | |
Level 3 | Recurring basis | Derivative instruments | Equity/Index-related products | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Correlation [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 99 | 98 | |
Level 3 | Recurring basis | Derivative instruments | Equity/Index-related products | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Correlation [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 66 | 80 | |
Level 3 | Recurring basis | Derivative instruments | Equity/Index-related products | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Gap risk [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | 0 | |
Level 3 | Recurring basis | Derivative instruments | Equity/Index-related products | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Gap risk [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 4 | 4 | |
Level 3 | Recurring basis | Derivative instruments | Equity/Index-related products | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Gap risk [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 1 | 1 | |
Level 3 | Recurring basis | Derivative instruments | Equity/Index-related products | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Volatility [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 1 | 2 | |
Level 3 | Recurring basis | Derivative instruments | Equity/Index-related products | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Volatility [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 126 | 178 | |
Level 3 | Recurring basis | Derivative instruments | Equity/Index-related products | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Volatility [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 32 | 34 | |
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | |||
Assets | |||
Trading assets | SFr 653 | SFr 673 | |
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 1 | 3 | |
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 1,121 | 2,147 | |
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 165 | 269 | |
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Correlation [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 97 | 97 | |
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Correlation [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 97 | 97 | |
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Correlation [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 97 | 97 | |
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Default Rate [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 2 | 1 | |
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Default Rate [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 20 | 20 | |
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Default Rate [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 4 | 4 | |
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 2 | 3 | |
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 23 | 28 | |
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 12 | 15 | |
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Funding spread [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | ||
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Funding spread [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 1 | ||
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Funding spread [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 0 | ||
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Loss Severity [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 7 | 16 | |
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Loss Severity [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 85 | 85 | |
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Loss Severity [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 59 | 56 | |
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Prepayment Rate [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | 0 | |
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Prepayment Rate [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 8 | 12 | |
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Prepayment Rate [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 5 | 6 | |
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | 0 | |
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 45 | 68 | |
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 23 | 8 | |
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Market comparable | |||
Assets | |||
Trading assets | SFr 66 | ||
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Market comparable | Measurement Input, Price Volatility [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 84 | ||
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Market comparable | Measurement Input, Price Volatility [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 108 | ||
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Market comparable | Measurement Input, Price Volatility [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 97 | ||
Level 3 | Recurring basis | Derivative instruments | Other derivatives | |||
Assets | |||
Trading assets | SFr 892 | SFr 806 | |
Level 3 | Recurring basis | Derivative instruments | Other derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 2 | 2 | |
Level 3 | Recurring basis | Derivative instruments | Other derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 16 | 16 | |
Level 3 | Recurring basis | Derivative instruments | Other derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 5 | 5 | |
Level 3 | Recurring basis | Derivative instruments | Other derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Mortality Rate [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 87 | 87 | |
Level 3 | Recurring basis | Derivative instruments | Other derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Mortality Rate [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 106 | 106 | |
Level 3 | Recurring basis | Derivative instruments | Other derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Mortality Rate [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 101 | 101 | |
Level 3 | Recurring basis | Other | |||
Assets | |||
Trading assets | SFr 2,752 | SFr 3,308 | |
Level 3 | Recurring basis | Other | Option model | |||
Assets | |||
Trading assets | SFr 255 | SFr 249 | |
Level 3 | Recurring basis | Other | Option model | Measurement Input, Mortality Rate [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | 0 | |
Level 3 | Recurring basis | Other | Option model | Measurement Input, Mortality Rate [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 70 | 70 | |
Level 3 | Recurring basis | Other | Option model | Measurement Input, Mortality Rate [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 6 | 6 | |
Level 3 | Recurring basis | Other | Valuation Technique, Discounted Cash Flow [Member] | |||
Assets | |||
Trading assets | SFr 912 | SFr 870 | |
Level 3 | Recurring basis | Other | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 2 | 3 | |
Level 3 | Recurring basis | Other | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 15 | 17 | |
Level 3 | Recurring basis | Other | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 7 | 7 | |
Level 3 | Recurring basis | Other | Market comparable | |||
Assets | |||
Trading assets | SFr 1,585 | SFr 2,119 | |
Level 3 | Recurring basis | Other | Market comparable | Measurement Input, Price Volatility [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | 0 | |
Level 3 | Recurring basis | Other | Market comparable | Measurement Input, Price Volatility [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 120 | 110 | |
Level 3 | Recurring basis | Other | Market comparable | Measurement Input, Price Volatility [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 25 | 30 | |
Level 3 | Recurring basis | Other | Life finance instruments | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Minimum | |||
Assets | |||
Loans - of which real estate, measurement input | 2 | 2 | |
Level 3 | Recurring basis | Other | Life finance instruments | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Maximum | |||
Assets | |||
Loans - of which real estate, measurement input | 17 | 17 | |
Level 3 | Recurring basis | Other | Life finance instruments | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Weighted average | |||
Assets | |||
Loans - of which real estate, measurement input | 6 | 6 | |
Bank | |||
Assets | |||
Cash and Due from Banks | SFr 172 | SFr 115 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 82,286 | 81,818 | |
Securities received as collateral | 45,378 | 41,696 | |
Trading assets | 145,758 | 133,859 | |
Investment securities | 1,396 | 1,477 | |
Other investments | 2,572 | 2,430 | |
Loans | 12,837 | 14,873 | |
Other intangible assets (mortgage servicing rights), at fair value | 162 | 163 | |
Other assets | 8,195 | 7,263 | |
Bank | Recurring basis | |||
Assets | |||
Cash and Due from Banks | 172 | 115 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 82,286 | 81,818 | |
Securities received as collateral | 45,378 | 41,696 | |
Trading assets | 145,758 | 133,859 | |
Investment securities | 1,396 | 1,477 | |
Other investments | 2,572 | 2,430 | |
Loans | 12,837 | 14,873 | |
Loans - of which commercial and industrial | 5,179 | 5,925 | |
Loans - of which financial institutions | 3,932 | 5,555 | |
Loans - of which government and public institutions | 2,780 | ||
Loans - of which real estate | 920 | 661 | |
Other intangible assets (mortgage servicing rights), at fair value | 162 | 163 | |
Other assets | 8,195 | 7,263 | |
Other assets - of which loans held-for-sale | 6,329 | 5,473 | |
Total assets at fair value | 298,756 | 283,694 | |
Bank | Recurring basis | Life finance instruments | |||
Assets | |||
Other investments | 1,086 | 1,067 | |
Bank | Recurring basis | Debt securities | |||
Assets | |||
Trading assets | 64,555 | 63,648 | |
Bank | Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Assets | |||
Trading assets | 26,489 | 28,321 | |
Bank | Recurring basis | Debt securities | Corporate debt securities | |||
Assets | |||
Trading assets | 13,600 | 9,403 | |
Bank | Recurring basis | Debt securities | RMBS | |||
Assets | |||
Trading assets | 19,883 | 21,351 | |
Bank | Recurring basis | Equity securities | |||
Assets | |||
Trading assets | 56,376 | 46,517 | |
Bank | Recurring basis | Derivative instruments | |||
Assets | |||
Trading assets | 19,561 | 18,402 | |
Bank | Recurring basis | Other | |||
Assets | |||
Trading assets | 5,266 | 5,292 | |
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 | 4 | 30 | |
Trading assets | 7,652 | 8,980 | |
Investment securities | 0 | 0 | |
Other investments | 1,369 | 1,309 | |
Loans | 4,163 | 4,324 | |
Loans - of which commercial and industrial | 1,618 | 1,949 | |
Loans - of which financial institutions | 1,227 | 1,391 | |
Loans - of which government and public institutions | 605 | ||
Loans - of which real estate | 687 | 515 | |
Other intangible assets (mortgage servicing rights), at fair value | 162 | 163 | |
Other assets | 1,718 | 1,543 | |
Other assets - of which loans held-for-sale | 1,449 | 1,235 | |
Total assets at fair value | 15,068 | 16,349 | |
Bank | Level 3 | Recurring basis | Valuation Technique, Discounted Cash Flow [Member] | |||
Assets | |||
Loans - of which commercial and industrial | 1,313 | 1,531 | |
Loans - of which financial institutions | SFr 1,057 | 1,157 | |
Loans - of which government and public institutions, measurement input | 437 | ||
Other assets - of which loans held-for-sale | SFr 545 | SFr 422 | |
Bank | Level 3 | Recurring basis | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Minimum | |||
Assets | |||
Loans - of which commercial and industrial, measurement input | 165 | 159 | |
Loans - of which financial institutions | SFr 51 | SFr 88 | |
Loans - of which government and public institutions, measurement input | 515 | ||
Loans - of which real estate, measurement input | 223 | 200 | |
Other assets - of which loans held-for-sale, measurement input | 112 | 105 | |
Bank | Level 3 | Recurring basis | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Maximum | |||
Assets | |||
Loans - of which commercial and industrial, measurement input | 1,699 | 1,184 | |
Loans - of which financial institutions | SFr 778 | SFr 1,071 | |
Loans - of which government and public institutions, measurement input | 595 | ||
Loans - of which real estate, measurement input | 1,062 | 1,522 | |
Other assets - of which loans held-for-sale, measurement input | 3,020 | 2,730 | |
Bank | Level 3 | Recurring basis | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Weighted average | |||
Assets | |||
Loans - of which commercial and industrial, measurement input | 547 | 582 | |
Loans - of which financial institutions | SFr 348 | SFr 596 | |
Loans - of which government and public institutions, measurement input | 562 | ||
Loans - of which real estate, measurement input | 669 | 612 | |
Other assets - of which loans held-for-sale, measurement input | 387 | 394 | |
Bank | Level 3 | Recurring basis | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Minimum | |||
Assets | |||
Loans - of which commercial and industrial, measurement input | 25 | ||
Loans - of which government and public institutions, measurement input | 25 | ||
Loans - of which real estate, measurement input | 25 | 25 | |
Other assets - of which loans held-for-sale, measurement input | 25 | 25 | |
Bank | Level 3 | Recurring basis | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Maximum | |||
Assets | |||
Loans - of which commercial and industrial, measurement input | 25 | ||
Loans - of which government and public institutions, measurement input | 40 | ||
Loans - of which real estate, measurement input | 40 | 40 | |
Other assets - of which loans held-for-sale, measurement input | 87 | 87 | |
Bank | Level 3 | Recurring basis | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Weighted average | |||
Assets | |||
Loans - of which commercial and industrial, measurement input | 25 | ||
Loans - of which government and public institutions, measurement input | 30 | ||
Loans - of which real estate, measurement input | 40 | 39 | |
Other assets - of which loans held-for-sale, measurement input | 37 | 56 | |
Bank | Level 3 | Recurring basis | Market comparable | |||
Assets | |||
Loans - of which commercial and industrial | SFr 280 | SFr 306 | |
Loans - of which financial institutions | SFr 100 | 73 | |
Loans - of which government and public institutions, measurement input | 167 | ||
Other assets - of which loans held-for-sale | SFr 854 | SFr 739 | |
Bank | Level 3 | Recurring basis | Market comparable | Measurement Input, Price Volatility [Member] | Minimum | |||
Assets | |||
Loans - of which commercial and industrial, measurement input | 0 | 0 | |
Loans - of which financial institutions | SFr 49 | SFr 1 | |
Loans - of which government and public institutions, measurement input | 62 | ||
Other assets - of which loans held-for-sale, measurement input | 0 | 0 | |
Bank | Level 3 | Recurring basis | Market comparable | Measurement Input, Price Volatility [Member] | Maximum | |||
Assets | |||
Loans - of which commercial and industrial, measurement input | 94 | 99 | |
Loans - of which financial institutions | SFr 100 | SFr 100 | |
Loans - of which government and public institutions, measurement input | 62 | ||
Other assets - of which loans held-for-sale, measurement input | 175 | 130 | |
Bank | Level 3 | Recurring basis | Market comparable | Measurement Input, Price Volatility [Member] | Weighted average | |||
Assets | |||
Loans - of which commercial and industrial, measurement input | 52 | 65 | |
Loans - of which financial institutions | SFr 95 | SFr 74 | |
Loans - of which government and public institutions, measurement input | 62 | ||
Other assets - of which loans held-for-sale, measurement input | 82 | 82 | |
Bank | Level 3 | Recurring basis | Life finance instruments | |||
Assets | |||
Other investments | SFr 1,085 | SFr 1,067 | |
Bank | Level 3 | Recurring basis | Debt securities | |||
Assets | |||
Trading assets | 1,711 | 2,242 | |
Bank | Level 3 | Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Assets | |||
Trading assets | SFr 206 | SFr 232 | |
Bank | Level 3 | Recurring basis | Debt securities | Debt securities issued by foreign governments | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 140 | 140 | |
Bank | Level 3 | Recurring basis | Debt securities | Debt securities issued by foreign governments | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 140 | 140 | |
Bank | Level 3 | Recurring basis | Debt securities | Debt securities issued by foreign governments | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 140 | 140 | |
Bank | Level 3 | Recurring basis | Debt securities | Corporate debt securities | |||
Assets | |||
Trading assets | SFr 901 | SFr 1,260 | |
Bank | Level 3 | Recurring basis | Debt securities | Corporate debt securities | Option model | |||
Assets | |||
Trading assets | SFr 893 | SFr 621 | |
Bank | Level 3 | Recurring basis | Debt securities | Corporate debt securities | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Correlation [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | (80) | (60) | |
Bank | Level 3 | Recurring basis | Debt securities | Corporate debt securities | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Correlation [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 99 | 98 | |
Bank | Level 3 | Recurring basis | Debt securities | Corporate debt securities | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Correlation [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 63 | 68 | |
Bank | Level 3 | Recurring basis | Debt securities | Corporate debt securities | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Volatility [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | 0 | |
Bank | Level 3 | Recurring basis | Debt securities | Corporate debt securities | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Volatility [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 126 | 178 | |
Bank | Level 3 | Recurring basis | Debt securities | Corporate debt securities | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Volatility [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 26 | 30 | |
Bank | Level 3 | Recurring basis | Debt securities | Corporate debt securities | Market comparable | |||
Assets | |||
Trading assets | SFr 365 | SFr 441 | |
Bank | Level 3 | Recurring basis | Debt securities | Corporate debt securities | Market comparable | Measurement Input, Price Volatility [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | 0 | |
Bank | Level 3 | Recurring basis | Debt securities | Corporate debt securities | Market comparable | Measurement Input, Price Volatility [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 126 | 118 | |
Bank | Level 3 | Recurring basis | Debt securities | Corporate debt securities | Market comparable | Measurement Input, Price Volatility [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 91 | 94 | |
Bank | Level 3 | Recurring basis | Debt securities | RMBS | |||
Assets | |||
Trading assets | SFr 345 | SFr 432 | |
Bank | Level 3 | Recurring basis | Debt securities | RMBS | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Default Rate [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | 0 | |
Bank | Level 3 | Recurring basis | Debt securities | RMBS | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Default Rate [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 10 | 11 | |
Bank | Level 3 | Recurring basis | Debt securities | RMBS | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Default Rate [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 3 | 3 | |
Bank | Level 3 | Recurring basis | Debt securities | RMBS | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 2 | 1 | |
Bank | Level 3 | Recurring basis | Debt securities | RMBS | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 34 | 26 | |
Bank | Level 3 | Recurring basis | Debt securities | RMBS | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 8 | 7 | |
Bank | Level 3 | Recurring basis | Debt securities | RMBS | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Loss Severity [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | 0 | |
Bank | Level 3 | Recurring basis | Debt securities | RMBS | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Loss Severity [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 100 | 100 | |
Bank | Level 3 | Recurring basis | Debt securities | RMBS | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Loss Severity [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 64 | 63 | |
Bank | Level 3 | Recurring basis | Debt securities | RMBS | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Prepayment Rate [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 2 | 1 | |
Bank | Level 3 | Recurring basis | Debt securities | RMBS | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Prepayment Rate [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 20 | 22 | |
Bank | Level 3 | Recurring basis | Debt securities | RMBS | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Prepayment Rate [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 8 | 8 | |
Bank | Level 3 | Recurring basis | Equity securities | |||
Assets | |||
Trading assets | SFr 155 | SFr 132 | |
Bank | Level 3 | Recurring basis | Equity securities | Vendor price | |||
Assets | |||
Trading assets | SFr 113 | SFr 49 | |
Bank | Level 3 | Recurring basis | Equity securities | Vendor price | Measurement Input, Price Volatility [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | 0 | |
Bank | Level 3 | Recurring basis | Equity securities | Vendor price | Measurement Input, Price Volatility [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 498 | 355 | |
Bank | Level 3 | Recurring basis | Equity securities | Vendor price | Measurement Input, Price Volatility [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 8 | 1 | |
Bank | Level 3 | Recurring basis | Equity securities | Market comparable | |||
Assets | |||
Trading assets | SFr 7 | SFr 76 | |
Bank | Level 3 | Recurring basis | Equity securities | Market comparable | Measurement Input, EBITDA Multiple [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 2 | ||
Bank | Level 3 | Recurring basis | Equity securities | Market comparable | Measurement Input, EBITDA Multiple [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 9 | ||
Bank | Level 3 | Recurring basis | Equity securities | Market comparable | Measurement Input, EBITDA Multiple [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 6 | ||
Bank | Level 3 | Recurring basis | Equity securities | Market comparable | Measurement Input, Price Volatility [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 10 | 100 | |
Bank | Level 3 | Recurring basis | Equity securities | Market comparable | Measurement Input, Price Volatility [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 12 | 100 | |
Bank | Level 3 | Recurring basis | Equity securities | Market comparable | Measurement Input, Price Volatility [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 11 | 100 | |
Bank | Level 3 | Recurring basis | Derivative instruments | |||
Assets | |||
Trading assets | SFr 3,034 | SFr 3,298 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Interest rate derivatives | |||
Assets | |||
Trading assets | SFr 512 | SFr 507 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Interest rate derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Correlation [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | (3) | 0 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Interest rate derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Correlation [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 100 | 100 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Interest rate derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Correlation [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 65 | 69 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Interest rate derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Prepayment Rate [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 1 | 1 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Interest rate derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Prepayment Rate [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 17 | 26 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Interest rate derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Prepayment Rate [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 8 | 9 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Interest rate derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Volatility skew [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | (4) | (4) | |
Bank | Level 3 | Recurring basis | Derivative instruments | Interest rate derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Volatility skew [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 1 | 0 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Interest rate derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Volatility skew [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | (2) | (2) | |
Bank | Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | |||
Assets | |||
Trading assets | SFr 225 | SFr 258 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Option model | |||
Assets | |||
Trading assets | 162 | 218 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Discounted Cash Flow [Member] | |||
Assets | |||
Trading assets | SFr 21 | SFr 28 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Contingent probability [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 95 | 95 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Contingent probability [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 95 | 95 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Contingent probability [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 95 | 95 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Correlation [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 5 | (23) | |
Bank | Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Correlation [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 38 | 70 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Correlation [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 26 | 24 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Prepayment Rate [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 22 | 21 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Prepayment Rate [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 26 | 26 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Prepayment Rate [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 24 | 23 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Volatility [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 78 | 80 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Volatility [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 90 | 90 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Volatility [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 85 | 85 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Equity/Index-related products | |||
Assets | |||
Trading assets | SFr 752 | SFr 1,054 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Buyback probability [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 50 | 50 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Buyback probability [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 100 | 100 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Buyback probability [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 73 | 74 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Correlation [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | (80) | (40) | |
Bank | Level 3 | Recurring basis | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Correlation [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 99 | 98 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Correlation [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 66 | 80 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Gap risk [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | 0 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Gap risk [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 4 | 4 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Gap risk [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 1 | 1 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Volatility [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 1 | 2 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Volatility [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 126 | 178 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Volatility [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 32 | 34 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | |||
Assets | |||
Trading assets | SFr 653 | SFr 673 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 1 | 3 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 1,121 | 2,147 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 165 | 269 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Correlation [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 97 | 97 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Correlation [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 97 | 97 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Correlation [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 97 | 97 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Default Rate [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 2 | 1 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Default Rate [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 20 | 20 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Default Rate [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 4 | 4 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 2 | 3 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 23 | 28 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 12 | 15 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Funding spread [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | ||
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Funding spread [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 1 | ||
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Funding spread [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 0 | ||
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Loss Severity [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 7 | 16 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Loss Severity [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 85 | 85 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Loss Severity [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 59 | 56 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Prepayment Rate [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | 0 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Prepayment Rate [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 8 | 12 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Prepayment Rate [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 5 | 6 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | 0 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 45 | 68 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 23 | 8 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Market comparable | |||
Assets | |||
Trading assets | SFr 66 | ||
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Market comparable | Measurement Input, Price Volatility [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 84 | ||
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Market comparable | Measurement Input, Price Volatility [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 108 | ||
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Market comparable | Measurement Input, Price Volatility [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 97 | ||
Bank | Level 3 | Recurring basis | Derivative instruments | Other derivatives | |||
Assets | |||
Trading assets | SFr 892 | SFr 806 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Other derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 2 | 2 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Other derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 16 | 16 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Other derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 5 | 5 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Other derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Mortality Rate [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 87 | 87 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Other derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Mortality Rate [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 106 | 106 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Other derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Mortality Rate [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 101 | 101 | |
Bank | Level 3 | Recurring basis | Other | |||
Assets | |||
Trading assets | SFr 2,752 | SFr 3,308 | |
Bank | Level 3 | Recurring basis | Other | Option model | |||
Assets | |||
Trading assets | SFr 255 | SFr 249 | |
Bank | Level 3 | Recurring basis | Other | Option model | Measurement Input, Mortality Rate [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | 0 | |
Bank | Level 3 | Recurring basis | Other | Option model | Measurement Input, Mortality Rate [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 70 | 70 | |
Bank | Level 3 | Recurring basis | Other | Option model | Measurement Input, Mortality Rate [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 6 | 6 | |
Bank | Level 3 | Recurring basis | Other | Valuation Technique, Discounted Cash Flow [Member] | |||
Assets | |||
Trading assets | SFr 912 | SFr 870 | |
Bank | Level 3 | Recurring basis | Other | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 2 | 3 | |
Bank | Level 3 | Recurring basis | Other | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 15 | 17 | |
Bank | Level 3 | Recurring basis | Other | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 7 | 7 | |
Bank | Level 3 | Recurring basis | Other | Market comparable | |||
Assets | |||
Trading assets | SFr 1,585 | SFr 2,119 | |
Bank | Level 3 | Recurring basis | Other | Market comparable | Measurement Input, Price Volatility [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | 0 | |
Bank | Level 3 | Recurring basis | Other | Market comparable | Measurement Input, Price Volatility [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 120 | 110 | |
Bank | Level 3 | Recurring basis | Other | Market comparable | Measurement Input, Price Volatility [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 25 | 30 | |
Bank | Level 3 | Recurring basis | Other | Life finance instruments | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Minimum | |||
Assets | |||
Loans - of which real estate, measurement input | 2 | 2 | |
Bank | Level 3 | Recurring basis | Other | Life finance instruments | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Maximum | |||
Assets | |||
Loans - of which real estate, measurement input | 17 | 17 | |
Bank | Level 3 | Recurring basis | Other | Life finance instruments | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Weighted average | |||
Assets | |||
Loans - of which real estate, measurement input | 6 | 6 |
FI - Quantitative information_2
FI - Quantitative information about level 3 liabilities at fair value (Details 16) SFr in Millions, Pure in Millions | Jun. 30, 2019CHF (SFr) | Mar. 31, 2019CHF (SFr) | Dec. 31, 2018CHF (SFr) |
Liabilities | |||
Due to banks | SFr 281 | SFr 248 | SFr 406 |
Customer deposits | 2,977 | 3,003 | 3,292 |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 9,195 | 9,745 | 14,828 |
Obligation to return securities received as collateral | 45,378 | 49,472 | 41,696 |
Trading liabilities | 43,356 | 39,536 | 42,169 |
Short-term borrowings | 10,237 | 9,514 | 8,068 |
Long-term debt | 71,648 | 69,411 | 63,935 |
Other liabilities | 7,613 | SFr 7,690 | 9,001 |
Recurring basis | |||
Liabilities | |||
Due to banks | 281 | 406 | |
Customer deposits | 2,977 | 3,292 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 9,195 | 14,828 | |
Obligation to return securities received as collateral | 45,378 | 41,696 | |
Trading liabilities | 43,356 | 42,169 | |
Short-term borrowings | 10,237 | 8,068 | |
Long-term debt | 71,648 | 63,935 | |
Other liabilities | 7,613 | 9,001 | |
Total liabilities at fair value | 190,685 | 183,395 | |
Recurring basis | Long-term debt - of which structured notes over one year and up to two years | |||
Liabilities | |||
Long-term debt | 8,926 | 7,770 | |
Recurring basis | Long-term debt - of which structured notes over two years | |||
Liabilities | |||
Long-term debt | 42,046 | 40,015 | |
Recurring basis | Long-term debt - of which high-trigger instruments | |||
Liabilities | |||
Long-term debt | 5,739 | ||
Recurring basis | Debt securities | |||
Liabilities | |||
Trading liabilities | 11,573 | 7,996 | |
Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Liabilities | |||
Trading liabilities | 6,338 | 4,583 | |
Recurring basis | Equity securities | |||
Liabilities | |||
Trading liabilities | 16,948 | 18,950 | |
Recurring basis | Derivative instruments | |||
Liabilities | |||
Trading liabilities | 14,835 | 15,223 | |
Level 3 | Recurring basis | |||
Liabilities | |||
Due to banks | 0 | 0 | |
Customer deposits | 495 | 453 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 0 | 0 | |
Obligation to return securities received as collateral | 4 | 30 | |
Trading liabilities | 3,419 | 3,589 | |
Short-term borrowings | 997 | 784 | |
Long-term debt | 13,689 | 12,665 | |
Other liabilities | 1,247 | 1,341 | |
Total liabilities at fair value | 19,851 | 18,862 | |
Level 3 | Recurring basis | Option model | |||
Liabilities | |||
Short-term borrowings | SFr 862 | SFr 644 | |
Level 3 | Recurring basis | Option model | Measurement Input, Buyback probability [Member] | Minimum | |||
Liabilities | |||
Short-term borrowings, measurement input | 50 | 50 | |
Level 3 | Recurring basis | Option model | Measurement Input, Buyback probability [Member] | Maximum | |||
Liabilities | |||
Short-term borrowings, measurement input | 100 | 100 | |
Level 3 | Recurring basis | Option model | Measurement Input, Buyback probability [Member] | Weighted average | |||
Liabilities | |||
Short-term borrowings, measurement input | 73 | 74 | |
Level 3 | Recurring basis | Option model | Measurement Input, Credit Spread [Member] | Minimum | |||
Liabilities | |||
Customer deposits, measurement input | 70 | ||
Level 3 | Recurring basis | Option model | Measurement Input, Credit Spread [Member] | Maximum | |||
Liabilities | |||
Customer deposits, measurement input | 103 | ||
Level 3 | Recurring basis | Option model | Measurement Input, Credit Spread [Member] | Weighted average | |||
Liabilities | |||
Customer deposits, measurement input | 98 | ||
Level 3 | Recurring basis | Option model | Measurement Input, Correlation [Member] | Minimum | |||
Liabilities | |||
Customer deposits, measurement input | (12) | ||
Short-term borrowings, measurement input | (80) | (40) | |
Level 3 | Recurring basis | Option model | Measurement Input, Correlation [Member] | Maximum | |||
Liabilities | |||
Customer deposits, measurement input | 100 | ||
Short-term borrowings, measurement input | 100 | 98 | |
Level 3 | Recurring basis | Option model | Measurement Input, Correlation [Member] | Weighted average | |||
Liabilities | |||
Customer deposits, measurement input | 73 | ||
Short-term borrowings, measurement input | 62 | 64 | |
Level 3 | Recurring basis | Option model | Measurement Input, Fund gap risk [Member] | Minimum | |||
Liabilities | |||
Short-term borrowings, measurement input | 0 | 0 | |
Level 3 | Recurring basis | Option model | Measurement Input, Fund gap risk [Member] | Maximum | |||
Liabilities | |||
Short-term borrowings, measurement input | 4 | 4 | |
Level 3 | Recurring basis | Option model | Measurement Input, Fund gap risk [Member] | Weighted average | |||
Liabilities | |||
Short-term borrowings, measurement input | 1 | 1 | |
Level 3 | Recurring basis | Option model | Measurement Input, Mean reversion [Member] | Minimum | |||
Liabilities | |||
Customer deposits, measurement input | 10 | ||
Level 3 | Recurring basis | Option model | Measurement Input, Mean reversion [Member] | Maximum | |||
Liabilities | |||
Customer deposits, measurement input | 10 | ||
Level 3 | Recurring basis | Option model | Measurement Input, Mean reversion [Member] | Weighted average | |||
Liabilities | |||
Customer deposits, measurement input | 10 | ||
Level 3 | Recurring basis | Option model | Measurement Input, Volatility [Member] | Minimum | |||
Liabilities | |||
Short-term borrowings, measurement input | 1 | 2 | |
Level 3 | Recurring basis | Option model | Measurement Input, Volatility [Member] | Maximum | |||
Liabilities | |||
Short-term borrowings, measurement input | 126 | 178 | |
Level 3 | Recurring basis | Option model | Measurement Input, Volatility [Member] | Weighted average | |||
Liabilities | |||
Short-term borrowings, measurement input | 36 | 32 | |
Level 3 | Recurring basis | Valuation Technique, Discounted Cash Flow [Member] | |||
Liabilities | |||
Short-term borrowings | SFr 79 | SFr 61 | |
Level 3 | Recurring basis | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Minimum | |||
Liabilities | |||
Short-term borrowings, measurement input | 853 | 1,018 | |
Level 3 | Recurring basis | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Maximum | |||
Liabilities | |||
Short-term borrowings, measurement input | 1,146 | 1,089 | |
Level 3 | Recurring basis | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Weighted average | |||
Liabilities | |||
Short-term borrowings, measurement input | 1,020 | 1,067 | |
Level 3 | Recurring basis | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Minimum | |||
Liabilities | |||
Short-term borrowings, measurement input | 40 | 40 | |
Level 3 | Recurring basis | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Maximum | |||
Liabilities | |||
Short-term borrowings, measurement input | 40 | 40 | |
Level 3 | Recurring basis | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Weighted average | |||
Liabilities | |||
Short-term borrowings, measurement input | 40 | 40 | |
Level 3 | Recurring basis | Long-term debt - of which structured notes over one year and up to two years | |||
Liabilities | |||
Long-term debt | SFr 880 | SFr 528 | |
Level 3 | Recurring basis | Long-term debt - of which structured notes over one year and up to two years | Option model | |||
Liabilities | |||
Long-term debt | SFr 851 | SFr 427 | |
Level 3 | Recurring basis | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Buyback probability [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | 50 | ||
Level 3 | Recurring basis | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Buyback probability [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 100 | ||
Level 3 | Recurring basis | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Buyback probability [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 73 | ||
Level 3 | Recurring basis | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Correlation [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | (80) | (40) | |
Level 3 | Recurring basis | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Correlation [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 99 | 98 | |
Level 3 | Recurring basis | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Correlation [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 65 | 71 | |
Level 3 | Recurring basis | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Fund gap risk [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | 0 | ||
Level 3 | Recurring basis | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Fund gap risk [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 4 | ||
Level 3 | Recurring basis | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Fund gap risk [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 1 | ||
Level 3 | Recurring basis | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Volatility [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | 1 | 2 | |
Level 3 | Recurring basis | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Volatility [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 126 | 178 | |
Level 3 | Recurring basis | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Volatility [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 33 | 31 | |
Level 3 | Recurring basis | Long-term debt - of which structured notes over one year and up to two years | Valuation Technique, Discounted Cash Flow [Member] | |||
Liabilities | |||
Long-term debt | SFr 10 | SFr 3 | |
Level 3 | Recurring basis | Long-term debt - of which structured notes over one year and up to two years | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | (62) | 112 | |
Level 3 | Recurring basis | Long-term debt - of which structured notes over one year and up to two years | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 118 | 112 | |
Level 3 | Recurring basis | Long-term debt - of which structured notes over one year and up to two years | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | (11) | 112 | |
Level 3 | Recurring basis | Long-term debt - of which structured notes over two years | |||
Liabilities | |||
Long-term debt | SFr 12,511 | SFr 11,800 | |
Level 3 | Recurring basis | Long-term debt - of which structured notes over two years | Option model | |||
Liabilities | |||
Long-term debt | SFr 10,485 | SFr 9,533 | |
Level 3 | Recurring basis | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Buyback probability [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | 50 | 50 | |
Level 3 | Recurring basis | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Buyback probability [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 100 | 100 | |
Level 3 | Recurring basis | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Buyback probability [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 73 | 74 | |
Level 3 | Recurring basis | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Correlation [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | (80) | (60) | |
Level 3 | Recurring basis | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Correlation [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 99 | 98 | |
Level 3 | Recurring basis | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Correlation [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 63 | 65 | |
Level 3 | Recurring basis | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Gap risk [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | 0 | 0 | |
Level 3 | Recurring basis | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Gap risk [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 4 | 4 | |
Level 3 | Recurring basis | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Gap risk [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 1 | 1 | |
Level 3 | Recurring basis | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Mean reversion [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | (55) | (55) | |
Level 3 | Recurring basis | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Mean reversion [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 0 | (1) | |
Level 3 | Recurring basis | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Mean reversion [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | (5) | (7) | |
Level 3 | Recurring basis | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Volatility [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | 0 | 0 | |
Level 3 | Recurring basis | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Volatility [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 126 | 178 | |
Level 3 | Recurring basis | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Volatility [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 25 | 27 | |
Level 3 | Recurring basis | Long-term debt - of which structured notes over two years | Valuation Technique, Discounted Cash Flow [Member] | |||
Liabilities | |||
Long-term debt | SFr 1,565 | SFr 1,570 | |
Level 3 | Recurring basis | Long-term debt - of which structured notes over two years | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | (41) | (11) | |
Level 3 | Recurring basis | Long-term debt - of which structured notes over two years | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 635 | 1,089 | |
Level 3 | Recurring basis | Long-term debt - of which structured notes over two years | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 50 | 136 | |
Level 3 | Recurring basis | Long-term debt - of which structured notes over two years | Market comparable | |||
Liabilities | |||
Long-term debt | SFr 26 | SFr 43 | |
Level 3 | Recurring basis | Long-term debt - of which structured notes over two years | Market comparable | Measurement Input, Price Volatility [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | 46 | 0 | |
Level 3 | Recurring basis | Long-term debt - of which structured notes over two years | Market comparable | Measurement Input, Price Volatility [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 49 | 46 | |
Level 3 | Recurring basis | Long-term debt - of which structured notes over two years | Market comparable | Measurement Input, Price Volatility [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 49 | 30 | |
Level 3 | Recurring basis | Long-term debt - of which high-trigger instruments | |||
Liabilities | |||
Long-term debt | SFr 4 | ||
Level 3 | Recurring basis | Debt securities | |||
Liabilities | |||
Trading liabilities | 6 | SFr 25 | |
Level 3 | Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Liabilities | |||
Trading liabilities | 0 | 0 | |
Level 3 | Recurring basis | Equity securities | |||
Liabilities | |||
Trading liabilities | SFr 53 | SFr 37 | |
Level 3 | Recurring basis | Equity securities | Vendor price | Measurement Input, Price Volatility [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 0 | 0 | |
Level 3 | Recurring basis | Equity securities | Vendor price | Measurement Input, Price Volatility [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 66 | 3 | |
Level 3 | Recurring basis | Equity securities | Vendor price | Measurement Input, Price Volatility [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 2 | 0 | |
Level 3 | Recurring basis | Derivative instruments | |||
Liabilities | |||
Trading liabilities | SFr 3,360 | SFr 3,527 | |
Level 3 | Recurring basis | Derivative instruments | Interest rate derivatives | |||
Liabilities | |||
Trading liabilities | SFr 216 | SFr 189 | |
Level 3 | Recurring basis | Derivative instruments | Interest rate derivatives | Option model | Measurement Input, Basis spread [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | (20) | ||
Level 3 | Recurring basis | Derivative instruments | Interest rate derivatives | Option model | Measurement Input, Basis spread [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 147 | ||
Level 3 | Recurring basis | Derivative instruments | Interest rate derivatives | Option model | Measurement Input, Basis spread [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 48 | ||
Level 3 | Recurring basis | Derivative instruments | Interest rate derivatives | Option model | Measurement Input, Correlation [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | (3) | 1 | |
Level 3 | Recurring basis | Derivative instruments | Interest rate derivatives | Option model | Measurement Input, Correlation [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 100 | 100 | |
Level 3 | Recurring basis | Derivative instruments | Interest rate derivatives | Option model | Measurement Input, Correlation [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 42 | 41 | |
Level 3 | Recurring basis | Derivative instruments | Interest rate derivatives | Option model | Measurement Input, Prepayment Rate [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 1 | 1 | |
Level 3 | Recurring basis | Derivative instruments | Interest rate derivatives | Option model | Measurement Input, Prepayment Rate [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 17 | 26 | |
Level 3 | Recurring basis | Derivative instruments | Interest rate derivatives | Option model | Measurement Input, Prepayment Rate [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 6 | 7 | |
Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | |||
Liabilities | |||
Trading liabilities | SFr 133 | SFr 160 | |
Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Option model | |||
Liabilities | |||
Trading liabilities | SFr 57 | SFr 57 | |
Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Option model | Measurement Input, Correlation [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 55 | 35 | |
Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Option model | Measurement Input, Correlation [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 55 | 70 | |
Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Option model | Measurement Input, Correlation [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 55 | 53 | |
Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Option model | Measurement Input, Prepayment Rate [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 22 | 21 | |
Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Option model | Measurement Input, Prepayment Rate [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 26 | 26 | |
Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Option model | Measurement Input, Prepayment Rate [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 24 | 23 | |
Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Discounted Cash Flow [Member] | |||
Liabilities | |||
Trading liabilities | SFr 36 | SFr 62 | |
Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 362 | 146 | |
Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 362 | 535 | |
Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 362 | 379 | |
Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Contingent probability [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 95 | 95 | |
Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Contingent probability [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 95 | 95 | |
Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Contingent probability [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 95 | 95 | |
Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Market comparable | |||
Liabilities | |||
Trading liabilities | SFr 24 | SFr 37 | |
Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Market comparable | Measurement Input, Price Volatility [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 100 | 100 | |
Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Market comparable | Measurement Input, Price Volatility [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 100 | 100 | |
Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Market comparable | Measurement Input, Price Volatility [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 100 | 100 | |
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | |||
Liabilities | |||
Trading liabilities | SFr 1,097 | SFr 1,140 | |
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Option model | |||
Liabilities | |||
Trading liabilities | SFr 22 | SFr 20 | |
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Option model | Measurement Input, Credit Spread [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 23 | 35 | |
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Option model | Measurement Input, Credit Spread [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 1,114 | 1,156 | |
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Option model | Measurement Input, Credit Spread [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 236 | 320 | |
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Option model | Measurement Input, Correlation [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 49 | 50 | |
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Option model | Measurement Input, Correlation [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 49 | 50 | |
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Option model | Measurement Input, Correlation [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 49 | 50 | |
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | |||
Liabilities | |||
Trading liabilities | SFr 602 | SFr 566 | |
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 1 | 3 | |
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 1,186 | 2,937 | |
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 200 | 262 | |
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Correlation [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 38 | 38 | |
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Correlation [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 45 | 82 | |
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Correlation [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 44 | 47 | |
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Default Rate [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 2 | 1 | |
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Default Rate [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 20 | 20 | |
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Default Rate [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 4 | 4 | |
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 2 | 3 | |
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 22 | 28 | |
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 12 | 14 | |
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Loss Severity [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 7 | 16 | |
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Loss Severity [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 85 | 95 | |
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Loss Severity [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 60 | 56 | |
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Prepayment Rate [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 0 | 0 | |
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Prepayment Rate [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 8 | 12 | |
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Prepayment Rate [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 5 | 6 | |
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 20 | 0 | |
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 60 | 80 | |
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 34 | 14 | |
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Market comparable | |||
Liabilities | |||
Trading liabilities | SFr 417 | SFr 508 | |
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Market comparable | Measurement Input, Price Volatility [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 82 | 75 | |
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Market comparable | Measurement Input, Price Volatility [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 107 | 104 | |
Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Market comparable | Measurement Input, Price Volatility [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 97 | 89 | |
Level 3 | Recurring basis | Derivative instruments | Equity/Index-related products | |||
Liabilities | |||
Trading liabilities | SFr 1,449 | SFr 1,500 | |
Level 3 | Recurring basis | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Buyback probability [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 50 | 50 | |
Level 3 | Recurring basis | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Buyback probability [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 100 | 100 | |
Level 3 | Recurring basis | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Buyback probability [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 73 | 74 | |
Level 3 | Recurring basis | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Correlation [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | (80) | (60) | |
Level 3 | Recurring basis | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Correlation [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 99 | 98 | |
Level 3 | Recurring basis | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Correlation [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 66 | 74 | |
Level 3 | Recurring basis | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Volatility [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 1 | 0 | |
Level 3 | Recurring basis | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Volatility [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 126 | 178 | |
Level 3 | Recurring basis | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Volatility [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 26 | 30 | |
Bank | |||
Liabilities | |||
Due to banks | SFr 281 | SFr 406 | |
Customer deposits | 2,977 | 3,292 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 9,304 | 14,828 | |
Obligation to return securities received as collateral | 45,378 | 41,696 | |
Trading liabilities | 43,370 | 42,171 | |
Short-term borrowings | 10,237 | 8,068 | |
Long-term debt | 70,703 | 63,027 | |
Other liabilities | 7,597 | 8,983 | |
Bank | Recurring basis | |||
Liabilities | |||
Due to banks | 281 | 406 | |
Customer deposits | 2,977 | 3,292 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 9,304 | 14,828 | |
Obligation to return securities received as collateral | 45,378 | 41,696 | |
Trading liabilities | 43,370 | 42,171 | |
Short-term borrowings | 10,237 | 8,068 | |
Long-term debt | 70,703 | 63,027 | |
Other liabilities | 7,597 | 8,983 | |
Total liabilities at fair value | 189,847 | 182,471 | |
Bank | Recurring basis | Long-term debt - of which structured notes over one year and up to two years | |||
Liabilities | |||
Long-term debt | 8,926 | 7,770 | |
Bank | Recurring basis | Long-term debt - of which structured notes over two years | |||
Liabilities | |||
Long-term debt | 42,046 | 40,015 | |
Bank | Recurring basis | Long-term debt - of which high-trigger instruments | |||
Liabilities | |||
Long-term debt | 5,753 | ||
Bank | Recurring basis | Debt securities | |||
Liabilities | |||
Trading liabilities | 11,574 | 7,998 | |
Bank | Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Liabilities | |||
Trading liabilities | 6,338 | 4,583 | |
Bank | Recurring basis | Equity securities | |||
Liabilities | |||
Trading liabilities | 16,961 | 18,950 | |
Bank | Recurring basis | Derivative instruments | |||
Liabilities | |||
Trading liabilities | 14,835 | 15,223 | |
Bank | Level 3 | Recurring basis | |||
Liabilities | |||
Due to banks | 0 | 0 | |
Customer deposits | 495 | 453 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 0 | 0 | |
Obligation to return securities received as collateral | 4 | 30 | |
Trading liabilities | 3,419 | 3,589 | |
Short-term borrowings | 997 | 784 | |
Long-term debt | 13,826 | 12,671 | |
Other liabilities | 1,234 | 1,327 | |
Total liabilities at fair value | 19,975 | 18,854 | |
Bank | Level 3 | Recurring basis | Option model | |||
Liabilities | |||
Short-term borrowings | SFr 862 | SFr 644 | |
Bank | Level 3 | Recurring basis | Option model | Measurement Input, Buyback probability [Member] | Minimum | |||
Liabilities | |||
Short-term borrowings, measurement input | 50 | 50 | |
Bank | Level 3 | Recurring basis | Option model | Measurement Input, Buyback probability [Member] | Maximum | |||
Liabilities | |||
Short-term borrowings, measurement input | 100 | 100 | |
Bank | Level 3 | Recurring basis | Option model | Measurement Input, Buyback probability [Member] | Weighted average | |||
Liabilities | |||
Short-term borrowings, measurement input | 73 | 74 | |
Bank | Level 3 | Recurring basis | Option model | Measurement Input, Credit Spread [Member] | Minimum | |||
Liabilities | |||
Customer deposits, measurement input | 70 | ||
Bank | Level 3 | Recurring basis | Option model | Measurement Input, Credit Spread [Member] | Maximum | |||
Liabilities | |||
Customer deposits, measurement input | 103 | ||
Bank | Level 3 | Recurring basis | Option model | Measurement Input, Credit Spread [Member] | Weighted average | |||
Liabilities | |||
Customer deposits, measurement input | 98 | ||
Bank | Level 3 | Recurring basis | Option model | Measurement Input, Correlation [Member] | Minimum | |||
Liabilities | |||
Customer deposits, measurement input | (12) | ||
Short-term borrowings, measurement input | (80) | (40) | |
Bank | Level 3 | Recurring basis | Option model | Measurement Input, Correlation [Member] | Maximum | |||
Liabilities | |||
Customer deposits, measurement input | 100 | ||
Short-term borrowings, measurement input | 100 | 98 | |
Bank | Level 3 | Recurring basis | Option model | Measurement Input, Correlation [Member] | Weighted average | |||
Liabilities | |||
Customer deposits, measurement input | 73 | ||
Short-term borrowings, measurement input | 62 | 64 | |
Bank | Level 3 | Recurring basis | Option model | Measurement Input, Fund gap risk [Member] | Minimum | |||
Liabilities | |||
Short-term borrowings, measurement input | 0 | 0 | |
Bank | Level 3 | Recurring basis | Option model | Measurement Input, Fund gap risk [Member] | Maximum | |||
Liabilities | |||
Short-term borrowings, measurement input | 4 | 4 | |
Bank | Level 3 | Recurring basis | Option model | Measurement Input, Fund gap risk [Member] | Weighted average | |||
Liabilities | |||
Short-term borrowings, measurement input | 1 | 1 | |
Bank | Level 3 | Recurring basis | Option model | Measurement Input, Mean reversion [Member] | Minimum | |||
Liabilities | |||
Customer deposits, measurement input | 10 | ||
Bank | Level 3 | Recurring basis | Option model | Measurement Input, Mean reversion [Member] | Maximum | |||
Liabilities | |||
Customer deposits, measurement input | 10 | ||
Bank | Level 3 | Recurring basis | Option model | Measurement Input, Mean reversion [Member] | Weighted average | |||
Liabilities | |||
Customer deposits, measurement input | 10 | ||
Bank | Level 3 | Recurring basis | Option model | Measurement Input, Volatility [Member] | Minimum | |||
Liabilities | |||
Short-term borrowings, measurement input | 1 | 2 | |
Bank | Level 3 | Recurring basis | Option model | Measurement Input, Volatility [Member] | Maximum | |||
Liabilities | |||
Short-term borrowings, measurement input | 126 | 178 | |
Bank | Level 3 | Recurring basis | Option model | Measurement Input, Volatility [Member] | Weighted average | |||
Liabilities | |||
Short-term borrowings, measurement input | 36 | 32 | |
Bank | Level 3 | Recurring basis | Valuation Technique, Discounted Cash Flow [Member] | |||
Liabilities | |||
Short-term borrowings | SFr 79 | SFr 61 | |
Bank | Level 3 | Recurring basis | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Minimum | |||
Liabilities | |||
Short-term borrowings, measurement input | 853 | 1,018 | |
Bank | Level 3 | Recurring basis | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Maximum | |||
Liabilities | |||
Short-term borrowings, measurement input | 1,146 | 1,089 | |
Bank | Level 3 | Recurring basis | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Weighted average | |||
Liabilities | |||
Short-term borrowings, measurement input | 1,020 | 1,067 | |
Bank | Level 3 | Recurring basis | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Minimum | |||
Liabilities | |||
Short-term borrowings, measurement input | 40 | 40 | |
Bank | Level 3 | Recurring basis | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Maximum | |||
Liabilities | |||
Short-term borrowings, measurement input | 40 | 40 | |
Bank | Level 3 | Recurring basis | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Weighted average | |||
Liabilities | |||
Short-term borrowings, measurement input | 40 | 40 | |
Bank | Level 3 | Recurring basis | Long-term debt - of which structured notes over one year and up to two years | |||
Liabilities | |||
Long-term debt | SFr 880 | SFr 528 | |
Bank | Level 3 | Recurring basis | Long-term debt - of which structured notes over one year and up to two years | Option model | |||
Liabilities | |||
Long-term debt | SFr 851 | SFr 427 | |
Bank | Level 3 | Recurring basis | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Buyback probability [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | 50 | ||
Bank | Level 3 | Recurring basis | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Buyback probability [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 100 | ||
Bank | Level 3 | Recurring basis | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Buyback probability [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 73 | ||
Bank | Level 3 | Recurring basis | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Correlation [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | (80) | (40) | |
Bank | Level 3 | Recurring basis | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Correlation [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 99 | 98 | |
Bank | Level 3 | Recurring basis | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Correlation [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 65 | 71 | |
Bank | Level 3 | Recurring basis | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Fund gap risk [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | 0 | ||
Bank | Level 3 | Recurring basis | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Fund gap risk [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 4 | ||
Bank | Level 3 | Recurring basis | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Fund gap risk [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 1 | ||
Bank | Level 3 | Recurring basis | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Volatility [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | 1 | 2 | |
Bank | Level 3 | Recurring basis | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Volatility [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 126 | 178 | |
Bank | Level 3 | Recurring basis | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Volatility [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 33 | 31 | |
Bank | Level 3 | Recurring basis | Long-term debt - of which structured notes over one year and up to two years | Valuation Technique, Discounted Cash Flow [Member] | |||
Liabilities | |||
Long-term debt | SFr 10 | SFr 3 | |
Bank | Level 3 | Recurring basis | Long-term debt - of which structured notes over one year and up to two years | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | (62) | 112 | |
Bank | Level 3 | Recurring basis | Long-term debt - of which structured notes over one year and up to two years | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 118 | 112 | |
Bank | Level 3 | Recurring basis | Long-term debt - of which structured notes over one year and up to two years | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | (11) | 112 | |
Bank | Level 3 | Recurring basis | Long-term debt - of which structured notes over two years | |||
Liabilities | |||
Long-term debt | SFr 12,511 | SFr 11,800 | |
Bank | Level 3 | Recurring basis | Long-term debt - of which structured notes over two years | Option model | |||
Liabilities | |||
Long-term debt | SFr 10,485 | SFr 9,533 | |
Bank | Level 3 | Recurring basis | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Buyback probability [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | 50 | 50 | |
Bank | Level 3 | Recurring basis | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Buyback probability [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 100 | 100 | |
Bank | Level 3 | Recurring basis | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Buyback probability [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 73 | 74 | |
Bank | Level 3 | Recurring basis | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Correlation [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | (80) | (60) | |
Bank | Level 3 | Recurring basis | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Correlation [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 99 | 98 | |
Bank | Level 3 | Recurring basis | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Correlation [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 63 | 65 | |
Bank | Level 3 | Recurring basis | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Gap risk [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | 0 | 0 | |
Bank | Level 3 | Recurring basis | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Gap risk [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 4 | 4 | |
Bank | Level 3 | Recurring basis | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Gap risk [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 1 | 1 | |
Bank | Level 3 | Recurring basis | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Mean reversion [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | (55) | (55) | |
Bank | Level 3 | Recurring basis | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Mean reversion [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 0 | (1) | |
Bank | Level 3 | Recurring basis | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Mean reversion [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | (5) | (7) | |
Bank | Level 3 | Recurring basis | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Volatility [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | 0 | 0 | |
Bank | Level 3 | Recurring basis | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Volatility [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 126 | 178 | |
Bank | Level 3 | Recurring basis | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Volatility [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 25 | 27 | |
Bank | Level 3 | Recurring basis | Long-term debt - of which structured notes over two years | Valuation Technique, Discounted Cash Flow [Member] | |||
Liabilities | |||
Long-term debt | SFr 1,565 | SFr 1,570 | |
Bank | Level 3 | Recurring basis | Long-term debt - of which structured notes over two years | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | (41) | (11) | |
Bank | Level 3 | Recurring basis | Long-term debt - of which structured notes over two years | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 635 | 1,089 | |
Bank | Level 3 | Recurring basis | Long-term debt - of which structured notes over two years | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 50 | 136 | |
Bank | Level 3 | Recurring basis | Long-term debt - of which structured notes over two years | Market comparable | |||
Liabilities | |||
Long-term debt | SFr 26 | SFr 43 | |
Bank | Level 3 | Recurring basis | Long-term debt - of which structured notes over two years | Market comparable | Measurement Input, Price Volatility [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | 46 | 0 | |
Bank | Level 3 | Recurring basis | Long-term debt - of which structured notes over two years | Market comparable | Measurement Input, Price Volatility [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 49 | 46 | |
Bank | Level 3 | Recurring basis | Long-term debt - of which structured notes over two years | Market comparable | Measurement Input, Price Volatility [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 49 | 30 | |
Bank | Level 3 | Recurring basis | Long-term debt - of which high-trigger instruments | |||
Liabilities | |||
Long-term debt | SFr 5 | ||
Bank | Level 3 | Recurring basis | Debt securities | |||
Liabilities | |||
Trading liabilities | 6 | SFr 25 | |
Bank | Level 3 | Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Liabilities | |||
Trading liabilities | 0 | 0 | |
Bank | Level 3 | Recurring basis | Equity securities | |||
Liabilities | |||
Trading liabilities | SFr 53 | SFr 37 | |
Bank | Level 3 | Recurring basis | Equity securities | Vendor price | Measurement Input, Price Volatility [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 0 | 0 | |
Bank | Level 3 | Recurring basis | Equity securities | Vendor price | Measurement Input, Price Volatility [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 66 | 3 | |
Bank | Level 3 | Recurring basis | Equity securities | Vendor price | Measurement Input, Price Volatility [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 2 | 0 | |
Bank | Level 3 | Recurring basis | Derivative instruments | |||
Liabilities | |||
Trading liabilities | SFr 3,360 | SFr 3,527 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Interest rate derivatives | |||
Liabilities | |||
Trading liabilities | SFr 216 | SFr 189 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Interest rate derivatives | Option model | Measurement Input, Basis spread [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | (20) | ||
Bank | Level 3 | Recurring basis | Derivative instruments | Interest rate derivatives | Option model | Measurement Input, Basis spread [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 147 | ||
Bank | Level 3 | Recurring basis | Derivative instruments | Interest rate derivatives | Option model | Measurement Input, Basis spread [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 48 | ||
Bank | Level 3 | Recurring basis | Derivative instruments | Interest rate derivatives | Option model | Measurement Input, Correlation [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | (3) | 1 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Interest rate derivatives | Option model | Measurement Input, Correlation [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 100 | 100 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Interest rate derivatives | Option model | Measurement Input, Correlation [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 42 | 41 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Interest rate derivatives | Option model | Measurement Input, Prepayment Rate [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 1 | 1 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Interest rate derivatives | Option model | Measurement Input, Prepayment Rate [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 17 | 26 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Interest rate derivatives | Option model | Measurement Input, Prepayment Rate [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 6 | 7 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | |||
Liabilities | |||
Trading liabilities | SFr 133 | SFr 160 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Option model | |||
Liabilities | |||
Trading liabilities | SFr 57 | SFr 57 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Option model | Measurement Input, Correlation [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 55 | 35 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Option model | Measurement Input, Correlation [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 55 | 70 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Option model | Measurement Input, Correlation [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 55 | 53 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Option model | Measurement Input, Prepayment Rate [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 22 | 21 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Option model | Measurement Input, Prepayment Rate [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 26 | 26 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Option model | Measurement Input, Prepayment Rate [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 24 | 23 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Discounted Cash Flow [Member] | |||
Liabilities | |||
Trading liabilities | SFr 36 | SFr 62 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 362 | 146 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 362 | 535 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 362 | 379 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Contingent probability [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 95 | 95 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Contingent probability [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 95 | 95 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Contingent probability [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 95 | 95 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Market comparable | |||
Liabilities | |||
Trading liabilities | SFr 24 | SFr 37 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Market comparable | Measurement Input, Price Volatility [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 100 | 100 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Market comparable | Measurement Input, Price Volatility [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 100 | 100 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Foreign exchange derivatives | Market comparable | Measurement Input, Price Volatility [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 100 | 100 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | |||
Liabilities | |||
Trading liabilities | SFr 1,097 | SFr 1,140 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Option model | |||
Liabilities | |||
Trading liabilities | SFr 22 | SFr 20 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Option model | Measurement Input, Credit Spread [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 23 | 35 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Option model | Measurement Input, Credit Spread [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 1,114 | 1,156 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Option model | Measurement Input, Credit Spread [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 236 | 320 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Option model | Measurement Input, Correlation [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 49 | 50 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Option model | Measurement Input, Correlation [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 49 | 50 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Option model | Measurement Input, Correlation [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 49 | 50 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | |||
Liabilities | |||
Trading liabilities | SFr 602 | SFr 566 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 1 | 3 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 1,186 | 2,937 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 200 | 262 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Correlation [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 38 | 38 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Correlation [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 45 | 82 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Correlation [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 44 | 47 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Default Rate [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 2 | 1 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Default Rate [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 20 | 20 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Default Rate [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 4 | 4 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 2 | 3 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 22 | 28 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 12 | 14 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Loss Severity [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 7 | 16 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Loss Severity [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 85 | 95 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Loss Severity [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 60 | 56 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Prepayment Rate [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 0 | 0 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Prepayment Rate [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 8 | 12 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Prepayment Rate [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 5 | 6 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 20 | 0 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 60 | 80 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 34 | 14 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Market comparable | |||
Liabilities | |||
Trading liabilities | SFr 417 | SFr 508 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Market comparable | Measurement Input, Price Volatility [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 82 | 75 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Market comparable | Measurement Input, Price Volatility [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 107 | 104 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Credit derivatives | Market comparable | Measurement Input, Price Volatility [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 97 | 89 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Equity/Index-related products | |||
Liabilities | |||
Trading liabilities | SFr 1,449 | SFr 1,500 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Buyback probability [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 50 | 50 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Buyback probability [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 100 | 100 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Buyback probability [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 73 | 74 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Correlation [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | (80) | (60) | |
Bank | Level 3 | Recurring basis | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Correlation [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 99 | 98 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Correlation [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 66 | 74 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Volatility [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 1 | 0 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Volatility [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 126 | 178 | |
Bank | Level 3 | Recurring basis | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Volatility [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 26 | 30 |
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, 2019 | Mar. 31, 2019 | Dec. 31, 2018 |
Financial assets | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | SFr 82,286 | SFr 81,730 | SFr 81,818 |
Investment securities | 1,398 | 1,716 | 1,479 |
Loans | 12,837 | 15,305 | 14,873 |
Other assets | 8,195 | 9,001 | 7,263 |
Financial liabilities | |||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 9,195 | 9,745 | 14,828 |
Short-term borrowings | 10,237 | 9,514 | 8,068 |
Long-term debt | 71,648 | 69,411 | 63,935 |
Other liabilities | 7,613 | SFr 7,690 | 9,001 |
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 | 31,180 | 35,277 | |
Loans | 277,399 | 269,147 | |
Other assets | 107,208 | 117,353 | |
Financial liabilities | |||
Due to banks and deposits | 379,543 | 375,403 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 10,386 | 9,795 | |
Short-term borrowings | 15,902 | 13,857 | |
Long-term debt | 86,307 | 90,373 | |
Other liabilities | 14,922 | 16,357 | |
Estimate of fair value | |||
Financial assets | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 31,180 | 35,278 | |
Loans | 286,995 | 276,872 | |
Other assets | 107,701 | 117,523 | |
Financial liabilities | |||
Due to banks and deposits | 379,544 | 375,429 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 10,386 | 9,795 | |
Short-term borrowings | 15,902 | 13,859 | |
Long-term debt | 89,525 | 90,505 | |
Other liabilities | 14,926 | 16,285 | |
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 | 92,268 | 99,976 | |
Financial liabilities | |||
Due to banks and deposits | 198,929 | 196,674 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 0 | 0 | |
Short-term borrowings | 0 | 0 | |
Long-term debt | 0 | 0 | |
Other liabilities | 0 | 0 | |
Estimate of fair value | Level 2 | |||
Financial assets | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 31,180 | 35,243 | |
Loans | 278,942 | 269,825 | |
Other assets | 14,344 | 16,750 | |
Financial liabilities | |||
Due to banks and deposits | 180,615 | 178,755 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 10,386 | 9,795 | |
Short-term borrowings | 15,902 | 13,859 | |
Long-term debt | 88,326 | 89,651 | |
Other liabilities | 14,732 | 16,101 | |
Estimate of fair value | Level 3 | |||
Financial assets | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 0 | 35 | |
Loans | 8,053 | 7,047 | |
Other assets | 1,089 | 797 | |
Financial liabilities | |||
Due to banks and deposits | 0 | 0 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 0 | 0 | |
Short-term borrowings | 0 | 0 | |
Long-term debt | 1,199 | 854 | |
Other liabilities | 194 | 184 | |
Bank | |||
Financial assets | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 82,286 | 81,818 | |
Investment securities | 1,396 | 1,477 | |
Loans | 12,837 | 14,873 | |
Other assets | 8,195 | 7,263 | |
Financial liabilities | |||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 9,304 | 14,828 | |
Short-term borrowings | 10,237 | 8,068 | |
Long-term debt | 70,703 | 63,027 | |
Other liabilities | 7,597 | 8,983 | |
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 | 31,180 | 35,277 | |
Loans | 283,883 | 274,440 | |
Other assets | 107,136 | 117,002 | |
Financial liabilities | |||
Due to banks and deposits | 380,791 | 376,741 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 10,386 | 9,795 | |
Short-term borrowings | 16,391 | 14,351 | |
Long-term debt | 86,314 | 90,406 | |
Other liabilities | 15,642 | 16,803 | |
Bank | Estimate of fair value | |||
Financial assets | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 31,180 | 35,278 | |
Loans | 293,474 | 282,152 | |
Other assets | 107,630 | 117,173 | |
Financial liabilities | |||
Due to banks and deposits | 380,792 | 376,768 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 10,386 | 9,795 | |
Short-term borrowings | 16,391 | 14,352 | |
Long-term debt | 89,562 | 90,561 | |
Other liabilities | 15,647 | 16,731 | |
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 | 91,684 | 99,238 | |
Financial liabilities | |||
Due to banks and deposits | 199,551 | 197,320 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 0 | 0 | |
Short-term borrowings | 0 | 0 | |
Long-term debt | 0 | 0 | |
Other liabilities | 0 | 0 | |
Bank | Estimate of fair value | Level 2 | |||
Financial assets | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 31,180 | 35,243 | |
Loans | 285,421 | 275,105 | |
Other assets | 14,858 | 17,139 | |
Financial liabilities | |||
Due to banks and deposits | 181,241 | 179,448 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 10,386 | 9,795 | |
Short-term borrowings | 16,391 | 14,352 | |
Long-term debt | 88,287 | 89,707 | |
Other liabilities | 15,453 | 16,547 | |
Bank | Estimate of fair value | Level 3 | |||
Financial assets | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 0 | 35 | |
Loans | 8,053 | 7,047 | |
Other assets | 1,088 | 796 | |
Financial liabilities | |||
Due to banks and deposits | 0 | 0 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 0 | 0 | |
Short-term borrowings | 0 | 0 | |
Long-term debt | 1,275 | 854 | |
Other liabilities | SFr 194 | SFr 184 |
FI - Own credit gains_(losses)
FI - Own credit gains/(losses) on fair value option elected instruments (Details 18) - CHF (SFr) SFr in Millions | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Financial instruments | ||
Gains/(losses) recorded into AOCI | SFr (365) | SFr 820 |
Gains/(losses) recorded into AOCI, Cumulatively | (2,516) | |
Gains/(losses) recorded into AOCI transferred to net income | 80 | 27 |
Due to banks and customer deposits | ||
Financial instruments | ||
Gains/(losses) recorded into AOCI | (8) | 4 |
Gains/(losses) recorded into AOCI, Cumulatively | (48) | |
Gains/(losses) recorded into AOCI transferred to net income | 0 | 0 |
Short-term borrowings | ||
Financial instruments | ||
Gains/(losses) recorded into AOCI | 1 | (18) |
Gains/(losses) recorded into AOCI, Cumulatively | (54) | |
Gains/(losses) recorded into AOCI transferred to net income | 1 | 2 |
Long-term debt | ||
Financial instruments | ||
Gains/(losses) recorded into AOCI | (358) | 834 |
Gains/(losses) recorded into AOCI, Cumulatively | (2,414) | |
Gains/(losses) recorded into AOCI transferred to net income | 79 | 25 |
Long-term debt - of which structured notes over two years | ||
Financial instruments | ||
Gains/(losses) recorded into AOCI | (36) | 526 |
Gains/(losses) recorded into AOCI, Cumulatively | (1,699) | |
Gains/(losses) recorded into AOCI transferred to net income | 79 | 25 |
Long-term debt - of which treasury debt over two years | ||
Financial instruments | ||
Gains/(losses) recorded into AOCI | (278) | 284 |
Gains/(losses) recorded into AOCI, Cumulatively | (614) | |
Gains/(losses) recorded into AOCI transferred to net income | 0 | 0 |
Bank | ||
Financial instruments | ||
Gains/(losses) recorded into AOCI | (1,509) | 1,123 |
Gains/(losses) recorded into AOCI, Cumulatively | (2,420) | |
Gains/(losses) recorded into AOCI transferred to net income | 110 | 34 |
Bank | Due to banks and customer deposits | ||
Financial instruments | ||
Gains/(losses) recorded into AOCI | (34) | 15 |
Gains/(losses) recorded into AOCI, Cumulatively | (48) | |
Gains/(losses) recorded into AOCI transferred to net income | 0 | 0 |
Bank | Short-term borrowings | ||
Financial instruments | ||
Gains/(losses) recorded into AOCI | 1 | 0 |
Gains/(losses) recorded into AOCI, Cumulatively | (54) | |
Gains/(losses) recorded into AOCI transferred to net income | 1 | 2 |
Bank | Long-term debt | ||
Financial instruments | ||
Gains/(losses) recorded into AOCI | (1,476) | 1,108 |
Gains/(losses) recorded into AOCI, Cumulatively | (2,318) | |
Gains/(losses) recorded into AOCI transferred to net income | 109 | 32 |
Bank | Long-term debt - of which structured notes over two years | ||
Financial instruments | ||
Gains/(losses) recorded into AOCI | (670) | 652 |
Gains/(losses) recorded into AOCI, Cumulatively | (1,699) | |
Gains/(losses) recorded into AOCI transferred to net income | 109 | 32 |
Bank | Long-term debt - of which treasury debt over two years | ||
Financial instruments | ||
Gains/(losses) recorded into AOCI | (652) | 418 |
Gains/(losses) recorded into AOCI, Cumulatively | (518) | |
Gains/(losses) recorded into AOCI transferred to net income | SFr 0 | SFr 0 |
Assets pledged and collateral_2
Assets pledged and collateral (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |
Dec. 31, 2018 | Jun. 30, 2019 | Dec. 31, 2018 | |
Assets pledged and collateral | |||
Total assets pledged or assigned as collateral | SFr 117,895 | SFr 121,960 | SFr 117,895 |
of which encumbered | 58,672 | 66,361 | 58,672 |
Fair value of collateral received with the right to sell or repledge | 406,389 | 440,627 | 406,389 |
of which sold or repledged | 193,267 | 196,524 | |
Bank | |||
Assets pledged and collateral | |||
Total assets pledged or assigned as collateral | 117,895 | 121,960 | 117,895 |
of which encumbered | 58,672 | 66,361 | 58,672 |
Fair value of collateral received with the right to sell or repledge | SFr 406,389 | 440,627 | 406,389 |
of which sold or repledged | SFr 196,524 | SFr 193,267 |
Litigation (Details)
Litigation (Details) - 3 months ended Jun. 30, 2019 SFr in Millions, $ in Millions, € in Billions | CHF (SFr) | USD ($) | EUR (€) |
Pending Litigation | |||
Litigation disclosures | |||
Net litigation provisions recorded | SFr | SFr 73 | ||
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 1,400 | ||
Credit Suisse Securities (USA) LLC | Mortgage-related matters - Individual investor actions | Federal Deposit Insurance Corporation as receiver for Colonial Bank | Circuit court of Montgomery County, Alabama | |||
Litigation disclosures | |||
Value of RMBS issued by third party underwritten by CSS LLC | $ | $ 139 | ||
DLJ Mortgage Capital, Inc. | Mortgage-related matters - Repurchase litigations | Home Equity Mortgage Trust Series 2006-5 | Supreme Court for the State of New York, New York County (SCNY) | Minimum | |||
Litigation disclosures | |||
Estimated damages | $ | 500 | ||
DLJ Mortgage Capital, Inc. | Mortgage-related matters - Repurchase litigations | Home Equity Mortgage Trust Series 2006-1, 2006-3 and 2006-4 | Supreme Court for the State of New York, New York County (SCNY) | Minimum | |||
Litigation disclosures | |||
Estimated damages | $ | $ 730 | ||
Credit Suisse Securities (Europe) Limited | Fondazione MPS litigation | Fondazione Monte dei Paschi di Siena | Civil Court of Milan, Italy | |||
Litigation disclosures | |||
Purchase price paid by plaintiff | € | € 9 |
Subsidiary guarantee informat_3
Subsidiary guarantee information - Income statement related (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Mar. 31, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Condensed consolidating statements of operations | |||||
Interest and dividend income | SFr 5,653 | SFr 4,818 | SFr 5,090 | SFr 10,471 | SFr 9,541 |
Interest expense | (3,652) | (3,286) | (3,497) | (6,938) | (6,363) |
Net interest income | 2,001 | 1,532 | 1,593 | 3,533 | 3,178 |
Commissions and fees | 2,927 | 2,612 | 3,159 | 5,539 | 6,205 |
Trading revenues | 182 | 840 | 528 | 1,022 | 1,106 |
Other revenues | 471 | 403 | 315 | 874 | 742 |
Net revenues | 5,581 | 5,387 | 5,595 | 10,968 | 11,231 |
Provision for credit losses | 25 | 81 | 73 | 106 | 121 |
Compensation and benefits | 2,545 | 2,518 | 2,547 | 5,063 | 5,085 |
General and administrative expenses | 1,395 | 1,413 | 1,420 | 2,808 | 2,928 |
Commission expenses | 314 | 313 | 328 | 627 | 672 |
Restructuring expenses | 175 | 319 | |||
Total other operating expenses | 1,709 | 1,726 | 1,923 | 3,435 | 3,919 |
Total operating expenses | 4,254 | 4,244 | 4,470 | 8,498 | 9,004 |
Income/(loss) before taxes | 1,302 | 1,062 | 1,052 | 2,364 | 2,106 |
Income tax expense/(benefit) | 365 | 313 | 398 | 678 | 760 |
Net income/(loss) | 937 | 749 | 654 | 1,686 | 1,346 |
Net income/(loss) attributable to noncontrolling interests | 0 | 0 | 7 | 0 | 5 |
Net income/(loss) attributable to shareholders | 937 | SFr 749 | 647 | 1,686 | 1,341 |
Eliminations and consolidation adjustments | |||||
Condensed consolidating statements of operations | |||||
Interest and dividend income | (313) | (206) | (616) | (389) | |
Interest expense | 318 | 185 | 618 | 350 | |
Net interest income | 5 | (21) | 2 | (39) | |
Commissions and fees | 18 | 32 | 45 | 65 | |
Trading revenues | 5 | 17 | (1) | 49 | |
Other revenues | (1,083) | (711) | (1,909) | (1,412) | |
Net revenues | (1,055) | (683) | (1,863) | (1,337) | |
Provision for credit losses | 0 | 0 | 0 | 0 | |
Compensation and benefits | 210 | 179 | 406 | 352 | |
General and administrative expenses | (361) | (319) | (686) | (628) | |
Commission expenses | 1 | 0 | 0 | 0 | |
Restructuring expenses | 30 | 62 | |||
Total other operating expenses | (360) | (289) | (686) | (566) | |
Total operating expenses | (150) | (110) | (280) | (214) | |
Income/(loss) before taxes | (905) | (573) | (1,583) | (1,123) | |
Income tax expense/(benefit) | 26 | 67 | (23) | 130 | |
Net income/(loss) | (931) | (640) | (1,560) | (1,253) | |
Net income/(loss) attributable to noncontrolling interests | (4) | (2) | (7) | (4) | |
Net income/(loss) attributable to shareholders | (927) | (638) | (1,553) | (1,249) | |
Group parent company | |||||
Condensed consolidating statements of operations | |||||
Interest and dividend income | 311 | 202 | 611 | 384 | |
Interest expense | (322) | (215) | (635) | (410) | |
Net interest income | (11) | (13) | (24) | (26) | |
Commissions and fees | 5 | 7 | 11 | 14 | |
Trading revenues | (54) | (23) | (64) | 9 | |
Other revenues | 1,020 | 696 | 1,797 | 1,375 | |
Net revenues | 960 | 667 | 1,720 | 1,372 | |
Provision for credit losses | 0 | 0 | 0 | 0 | |
Compensation and benefits | 30 | 15 | 48 | 32 | |
General and administrative expenses | (7) | 4 | (14) | (2) | |
Commission expenses | 0 | 0 | 0 | 0 | |
Restructuring expenses | 0 | 0 | |||
Total other operating expenses | (7) | 4 | (14) | (2) | |
Total operating expenses | 23 | 19 | 34 | 30 | |
Income/(loss) before taxes | 937 | 648 | 1,686 | 1,342 | |
Income tax expense/(benefit) | 0 | 1 | 0 | 1 | |
Net income/(loss) | 937 | 647 | 1,686 | 1,341 | |
Net income/(loss) attributable to noncontrolling interests | 0 | 0 | 0 | 0 | |
Net income/(loss) attributable to shareholders | 937 | 647 | 1,686 | 1,341 | |
Bank | |||||
Condensed consolidating statements of operations | |||||
Interest and dividend income | 5,655 | 5,094 | 10,476 | 9,546 | |
Interest expense | (3,648) | (3,467) | (6,921) | (6,303) | |
Net interest income | 2,007 | 1,627 | 3,555 | 3,243 | |
Commissions and fees | 2,904 | 3,120 | 5,483 | 6,126 | |
Trading revenues | 231 | 534 | 1,087 | 1,048 | |
Other revenues | 534 | 330 | 986 | 779 | |
Net revenues | 5,676 | 5,611 | 11,111 | 11,196 | |
Provision for credit losses | 25 | 73 | 106 | 121 | |
Compensation and benefits | 2,305 | 2,353 | 4,609 | 4,701 | |
General and administrative expenses | 1,763 | 1,735 | 3,508 | 3,558 | |
Commission expenses | 313 | 328 | 627 | 672 | |
Restructuring expenses | 145 | 257 | |||
Total other operating expenses | 2,076 | 2,208 | 4,135 | 4,487 | |
Total operating expenses | 4,381 | 4,561 | 8,744 | 9,188 | |
Income/(loss) before taxes | 1,270 | 977 | 2,261 | 1,887 | |
Income tax expense/(benefit) | 339 | 330 | 701 | 629 | |
Net income/(loss) | 931 | 647 | 1,560 | 1,258 | |
Net income/(loss) attributable to noncontrolling interests | 4 | 9 | 7 | 9 | |
Net income/(loss) attributable to shareholders | 927 | 638 | 1,553 | 1,249 | |
Bank | Credit Suisse (USA), Inc - Consolidated | |||||
Condensed consolidating statements of operations | |||||
Interest and dividend income | 1,016 | 1,048 | 2,014 | 1,996 | |
Interest expense | (1,096) | (1,081) | (2,158) | (2,070) | |
Net interest income | (80) | (33) | (144) | (74) | |
Commissions and fees | 912 | 924 | 1,616 | 1,827 | |
Trading revenues | 221 | 177 | 426 | 461 | |
Other revenues | 512 | 417 | 996 | 726 | |
Net revenues | 1,565 | 1,485 | 2,894 | 2,940 | |
Provision for credit losses | 3 | 1 | 9 | 1 | |
Compensation and benefits | 698 | 741 | 1,430 | 1,444 | |
General and administrative expenses | 459 | 463 | 908 | 881 | |
Commission expenses | 44 | 58 | 95 | 124 | |
Restructuring expenses | 89 | 149 | |||
Total other operating expenses | 503 | 610 | 1,003 | 1,154 | |
Total operating expenses | 1,201 | 1,351 | 2,433 | 2,598 | |
Income/(loss) before taxes | 361 | 133 | 452 | 341 | |
Income tax expense/(benefit) | 140 | 24 | 180 | 63 | |
Net income/(loss) | 221 | 109 | 272 | 278 | |
Net income/(loss) attributable to noncontrolling interests | 3 | 4 | 3 | 4 | |
Net income/(loss) attributable to shareholders | 218 | 105 | 269 | 274 | |
Bank | Bank parent company and other subsidiaries | Eliminations and consolidation adjustments | |||||
Condensed consolidating statements of operations | |||||
Interest and dividend income | 4,639 | 4,046 | 8,462 | 7,550 | |
Interest expense | (2,552) | (2,386) | (4,763) | (4,233) | |
Net interest income | 2,087 | 1,660 | 3,699 | 3,317 | |
Commissions and fees | 1,992 | 2,196 | 3,867 | 4,299 | |
Trading revenues | 10 | 357 | 661 | 587 | |
Other revenues | 22 | (87) | (10) | 53 | |
Net revenues | 4,111 | 4,126 | 8,217 | 8,256 | |
Provision for credit losses | 22 | 72 | 97 | 120 | |
Compensation and benefits | 1,607 | 1,612 | 3,179 | 3,257 | |
General and administrative expenses | 1,304 | 1,272 | 2,600 | 2,677 | |
Commission expenses | 269 | 270 | 532 | 548 | |
Restructuring expenses | 56 | 108 | |||
Total other operating expenses | 1,573 | 1,598 | 3,132 | 3,333 | |
Total operating expenses | 3,180 | 3,210 | 6,311 | 6,590 | |
Income/(loss) before taxes | 909 | 844 | 1,809 | 1,546 | |
Income tax expense/(benefit) | 199 | 306 | 521 | 566 | |
Net income/(loss) | 710 | 538 | 1,288 | 980 | |
Net income/(loss) attributable to noncontrolling interests | 1 | 5 | 4 | 5 | |
Net income/(loss) attributable to shareholders | SFr 709 | SFr 533 | SFr 1,284 | SFr 975 |
Subsidiary guarantee informat_4
Subsidiary guarantee information - Comprehensive income related (Details 2) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Mar. 31, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Comprehensive income | |||||
Net income/(loss) | SFr 937 | SFr 749 | SFr 654 | SFr 1,686 | SFr 1,346 |
Gains/(losses) on cash flow hedges | 43 | 46 | (10) | 89 | (43) |
Foreign currency translation | (592) | 199 | 565 | (393) | 63 |
Unrealized gains/(losses) on securities | 12 | 14 | (8) | 26 | (14) |
Actuarial gains/(losses) | 386 | 60 | 73 | 446 | 153 |
Net prior service cost | 306 | (24) | (29) | 282 | (60) |
Other comprehensive income/(loss), net of tax | (76) | (826) | 1,352 | (902) | 1,251 |
Comprehensive income/(loss) | 861 | (77) | 2,006 | 784 | 2,597 |
Comprehensive income/(loss) attributable to noncontrolling interests | (3) | 2 | 12 | (1) | 1 |
Comprehensive income/(loss) attributable to shareholders | 864 | (79) | 1,994 | 785 | 2,596 |
Gains/(losses) on liabilities related to credit risk | (231) | SFr (1,121) | 761 | (1,352) | 1,152 |
Eliminations and consolidation adjustments | |||||
Comprehensive income | |||||
Net income/(loss) | (931) | (640) | (1,560) | (1,253) | |
Gains/(losses) on cash flow hedges | (1) | 0 | (1) | 0 | |
Foreign currency translation | (13) | 7 | (4) | 0 | |
Unrealized gains/(losses) on securities | 0 | 0 | (1) | (1) | |
Actuarial gains/(losses) | 382 | 62 | 438 | 138 | |
Net prior service cost | 306 | (29) | 282 | (60) | |
Other comprehensive income/(loss), net of tax | 678 | 85 | 648 | 161 | |
Comprehensive income/(loss) | (253) | (555) | (912) | (1,092) | |
Comprehensive income/(loss) attributable to noncontrolling interests | 7 | (25) | (1) | (15) | |
Comprehensive income/(loss) attributable to shareholders | (260) | (530) | (911) | (1,077) | |
Gains/(losses) on liabilities related to credit risk | 4 | 45 | (66) | 84 | |
Group parent company | |||||
Comprehensive income | |||||
Net income/(loss) | 937 | 647 | 1,686 | 1,341 | |
Gains/(losses) on cash flow hedges | (1) | (3) | (3) | 0 | |
Foreign currency translation | (1) | 1 | 2 | 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 | (21) | 41 | (49) | 78 | |
Comprehensive income/(loss) | 916 | 688 | 1,637 | 1,419 | |
Comprehensive income/(loss) attributable to noncontrolling interests | 0 | 0 | 0 | 0 | |
Comprehensive income/(loss) attributable to shareholders | 916 | 688 | 1,637 | 1,419 | |
Gains/(losses) on liabilities related to credit risk | (19) | 43 | (48) | 77 | |
Bank | |||||
Comprehensive income | |||||
Net income/(loss) | 931 | 647 | 1,560 | 1,258 | |
Gains/(losses) on cash flow hedges | 45 | (7) | 93 | (43) | |
Foreign currency translation | (578) | 557 | (391) | 62 | |
Unrealized gains/(losses) on securities | 12 | (8) | 27 | (13) | |
Actuarial gains/(losses) | 4 | 11 | 8 | 15 | |
Net prior service cost | 0 | 0 | 0 | 0 | |
Other comprehensive income/(loss), net of tax | (733) | 1,226 | (1,501) | 1,012 | |
Comprehensive income/(loss) | 198 | 1,873 | 59 | 2,270 | |
Comprehensive income/(loss) attributable to noncontrolling interests | (10) | 37 | 0 | 16 | |
Comprehensive income/(loss) attributable to shareholders | 208 | 1,836 | 59 | 2,254 | |
Gains/(losses) on liabilities related to credit risk | (216) | 673 | (1,238) | 991 | |
Bank | Credit Suisse (USA), Inc - Consolidated | |||||
Comprehensive income | |||||
Net income/(loss) | 221 | 109 | 272 | 278 | |
Gains/(losses) on cash flow hedges | 0 | 0 | 0 | 0 | |
Foreign currency translation | (323) | 596 | (147) | 236 | |
Unrealized gains/(losses) on securities | 0 | 0 | 0 | 0 | |
Actuarial gains/(losses) | 4 | 7 | 6 | 6 | |
Net prior service cost | 0 | 0 | 0 | 0 | |
Other comprehensive income/(loss), net of tax | (335) | 633 | (194) | 265 | |
Comprehensive income/(loss) | (114) | 742 | 78 | 543 | |
Comprehensive income/(loss) attributable to noncontrolling interests | 1 | 8 | 2 | 5 | |
Comprehensive income/(loss) attributable to shareholders | (115) | 734 | 76 | 538 | |
Gains/(losses) on liabilities related to credit risk | (16) | 30 | (53) | 23 | |
Bank | Bank parent company and other subsidiaries | Eliminations and consolidation adjustments | |||||
Comprehensive income | |||||
Net income/(loss) | 710 | 538 | 1,288 | 980 | |
Gains/(losses) on cash flow hedges | 45 | (7) | 93 | (43) | |
Foreign currency translation | (255) | (39) | (244) | (174) | |
Unrealized gains/(losses) on securities | 12 | (8) | 27 | (13) | |
Actuarial gains/(losses) | 0 | 4 | 2 | 9 | |
Net prior service cost | 0 | 0 | 0 | 0 | |
Other comprehensive income/(loss), net of tax | (398) | 593 | (1,307) | 747 | |
Comprehensive income/(loss) | 312 | 1,131 | (19) | 1,727 | |
Comprehensive income/(loss) attributable to noncontrolling interests | (11) | 29 | (2) | 11 | |
Comprehensive income/(loss) attributable to shareholders | 323 | 1,102 | (17) | 1,716 | |
Gains/(losses) on liabilities related to credit risk | SFr (200) | SFr 643 | SFr (1,185) | SFr 968 |
Subsidiary guarantee informat_5
Subsidiary guarantee information - Balance sheet related (Details 3) - CHF (SFr) SFr in Millions | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | |||||
Assets | |||||||||||
Cash and Cash Equivalents, at Carrying Value | SFr 92,489 | [1] | SFr 94,762 | SFr 100,047 | [1] | SFr 112,513 | [1] | SFr 109,815 | [1] | ||
Interest-bearing deposits with banks | 909 | 963 | 1,142 | ||||||||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 113,466 | 116,151 | 117,095 | ||||||||
Securities received as collateral | 45,378 | 49,472 | 41,696 | ||||||||
Trading assets | 145,613 | 144,922 | 133,635 | ||||||||
Investment securities | 1,398 | 1,716 | 1,479 | ||||||||
Other investments | 4,986 | 4,839 | 4,890 | ||||||||
Net loans | 293,797 | 292,970 | 287,581 | ||||||||
Goodwill | 4,731 | 4,807 | 4,766 | ||||||||
Other intangible assets | 216 | 224 | 219 | ||||||||
Brokerage receivables | 41,654 | 42,309 | 38,907 | ||||||||
Other assets | 39,579 | 40,501 | 37,459 | ||||||||
Total assets | 784,216 | 793,636 | 768,916 | ||||||||
Liabilities and equity | |||||||||||
Due to banks | 18,498 | 18,780 | 15,220 | ||||||||
Customer deposits | 364,302 | 367,147 | 363,925 | ||||||||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 19,582 | 20,617 | 24,623 | ||||||||
Obligation to return securities received as collateral | 45,378 | 49,472 | 41,696 | ||||||||
Trading liabilities | 43,356 | 39,536 | 42,169 | ||||||||
Short-term borrowings | 26,139 | 26,557 | 21,926 | ||||||||
Long-term debt | 157,955 | 160,261 | 154,308 | ||||||||
Brokerage payables | 35,120 | 37,942 | 30,923 | ||||||||
Other liabilities | 29,958 | 29,393 | 30,107 | ||||||||
Total liabilities | 740,288 | 749,705 | 724,897 | ||||||||
Total shareholders' equity | 43,673 | 43,825 | 43,922 | ||||||||
Noncontrolling interests | 255 | 106 | 97 | ||||||||
Total equity | 43,928 | 43,931 | 44,019 | 43,609 | SFr 42,697 | 42,189 | |||||
Total liabilities and equity | 784,216 | SFr 793,636 | 768,916 | ||||||||
Eliminations and consolidation adjustments | |||||||||||
Assets | |||||||||||
Cash and Cash Equivalents, at Carrying Value | 451 | 409 | 611 | (211) | |||||||
Interest-bearing deposits with banks | (425) | (430) | |||||||||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 0 | 0 | |||||||||
Securities received as collateral | 0 | 0 | |||||||||
Trading assets | (145) | (224) | |||||||||
Investment securities | (27,779) | (23,454) | |||||||||
Other investments | (48,882) | (47,964) | |||||||||
Net loans | (6,484) | (5,294) | |||||||||
Goodwill | 706 | 710 | |||||||||
Other intangible assets | 0 | 0 | |||||||||
Brokerage receivables | 0 | 0 | |||||||||
Other assets | 1,865 | 239 | |||||||||
Total assets | (80,693) | (76,008) | |||||||||
Liabilities and equity | |||||||||||
Due to banks | (1,763) | (1,364) | |||||||||
Customer deposits | (1,254) | (1,338) | |||||||||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (109) | 0 | |||||||||
Obligation to return securities received as collateral | 0 | 0 | |||||||||
Trading liabilities | (14) | (2) | |||||||||
Short-term borrowings | (489) | (493) | |||||||||
Long-term debt | (31,275) | (26,237) | |||||||||
Brokerage payables | 0 | 0 | |||||||||
Other liabilities | 130 | (677) | |||||||||
Total liabilities | (34,774) | (30,111) | |||||||||
Total shareholders' equity | (45,322) | (45,296) | |||||||||
Noncontrolling interests | (597) | (601) | |||||||||
Total equity | (45,919) | (45,897) | |||||||||
Total liabilities and equity | (80,693) | (76,008) | |||||||||
Group parent company | |||||||||||
Assets | |||||||||||
Cash and Cash Equivalents, at Carrying Value | 264 | 324 | 266 | 516 | |||||||
Interest-bearing deposits with banks | 493 | 498 | |||||||||
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 | 27,781 | 23,456 | |||||||||
Other investments | 48,922 | 48,030 | |||||||||
Net loans | 0 | 0 | |||||||||
Goodwill | 0 | 0 | |||||||||
Other intangible assets | 0 | 0 | |||||||||
Brokerage receivables | 0 | 0 | |||||||||
Other assets | 621 | 547 | |||||||||
Total assets | 78,081 | 72,855 | |||||||||
Liabilities and equity | |||||||||||
Due to banks | 1,769 | 1,364 | |||||||||
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 | 32,212 | 27,112 | |||||||||
Brokerage payables | 0 | 0 | |||||||||
Other liabilities | 427 | 457 | |||||||||
Total liabilities | 34,408 | 28,933 | |||||||||
Total shareholders' equity | 43,673 | 43,922 | |||||||||
Noncontrolling interests | 0 | 0 | |||||||||
Total equity | 43,673 | 43,922 | |||||||||
Total liabilities and equity | 78,081 | 72,855 | |||||||||
Bank | |||||||||||
Assets | |||||||||||
Cash and Cash Equivalents, at Carrying Value | [2] | 91,774 | 99,314 | 111,636 | 109,510 | ||||||
Interest-bearing deposits with banks | 841 | 1,074 | |||||||||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 113,466 | 117,095 | |||||||||
Securities received as collateral | 45,378 | 41,696 | |||||||||
Trading assets | 145,758 | 133,859 | |||||||||
Investment securities | 1,396 | 1,477 | |||||||||
Other investments | 4,946 | 4,824 | |||||||||
Net loans | 300,281 | 292,875 | |||||||||
Goodwill | 4,025 | 4,056 | |||||||||
Other intangible assets | 216 | 219 | |||||||||
Brokerage receivables | 41,654 | 38,907 | |||||||||
Other assets | 37,093 | 36,673 | |||||||||
Total assets | 786,828 | 772,069 | |||||||||
Liabilities and equity | |||||||||||
Due to banks | 18,492 | 15,220 | |||||||||
Customer deposits | 365,556 | 365,263 | |||||||||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 19,691 | 24,623 | |||||||||
Obligation to return securities received as collateral | 45,378 | 41,696 | |||||||||
Trading liabilities | 43,370 | 42,171 | |||||||||
Short-term borrowings | 26,628 | 22,419 | |||||||||
Long-term debt | 157,018 | 153,433 | |||||||||
Brokerage payables | 35,120 | 30,923 | |||||||||
Other liabilities | 29,401 | 30,327 | |||||||||
Total liabilities | 740,654 | 726,075 | |||||||||
Total shareholders' equity | 45,322 | 45,296 | |||||||||
Noncontrolling interests | 852 | 698 | |||||||||
Total equity | 46,174 | 45,994 | 45,082 | 43,550 | |||||||
Total liabilities and equity | 786,828 | 772,069 | |||||||||
Bank | Credit Suisse (USA), Inc - Consolidated | |||||||||||
Assets | |||||||||||
Cash and Cash Equivalents, at Carrying Value | 2,687 | 2,540 | 2,984 | 3,058 | |||||||
Interest-bearing deposits with banks | 10 | 22 | |||||||||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 38,653 | 35,640 | |||||||||
Securities received as collateral | 3,686 | 4,751 | |||||||||
Trading assets | 33,012 | 29,341 | |||||||||
Investment securities | 0 | 0 | |||||||||
Other investments | 774 | 826 | |||||||||
Net loans | 12,506 | 12,263 | |||||||||
Goodwill | 721 | 727 | |||||||||
Other intangible assets | 199 | 200 | |||||||||
Brokerage receivables | 17,556 | 20,772 | |||||||||
Other assets | 12,162 | 12,967 | |||||||||
Total assets | 121,966 | 120,049 | |||||||||
Liabilities and equity | |||||||||||
Due to banks | 94 | 59 | |||||||||
Customer deposits | 1 | 0 | |||||||||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 6,014 | 6,296 | |||||||||
Obligation to return securities received as collateral | 3,686 | 4,751 | |||||||||
Trading liabilities | 10,850 | 8,693 | |||||||||
Short-term borrowings | 9,365 | 9,679 | |||||||||
Long-term debt | 50,342 | 47,074 | |||||||||
Brokerage payables | 15,966 | 17,452 | |||||||||
Other liabilities | 9,681 | 9,995 | |||||||||
Total liabilities | 105,999 | 103,999 | |||||||||
Total shareholders' equity | 15,893 | 15,971 | |||||||||
Noncontrolling interests | 74 | 79 | |||||||||
Total equity | 15,967 | 16,050 | |||||||||
Total liabilities and equity | 121,966 | 120,049 | |||||||||
Bank | Bank parent company and other subsidiaries | Eliminations and consolidation adjustments | |||||||||||
Assets | |||||||||||
Cash and Cash Equivalents, at Carrying Value | 89,087 | 96,774 | SFr 108,652 | SFr 106,452 | |||||||
Interest-bearing deposits with banks | 831 | 1,052 | |||||||||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 74,813 | 81,455 | |||||||||
Securities received as collateral | 41,692 | 36,945 | |||||||||
Trading assets | 112,746 | 104,518 | |||||||||
Investment securities | 1,396 | 1,477 | |||||||||
Other investments | 4,172 | 3,998 | |||||||||
Net loans | 287,775 | 280,612 | |||||||||
Goodwill | 3,304 | 3,329 | |||||||||
Other intangible assets | 17 | 19 | |||||||||
Brokerage receivables | 24,098 | 18,135 | |||||||||
Other assets | 24,931 | 23,706 | |||||||||
Total assets | 664,862 | 652,020 | |||||||||
Liabilities and equity | |||||||||||
Due to banks | 18,398 | 15,161 | |||||||||
Customer deposits | 365,555 | 365,263 | |||||||||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 13,677 | 18,327 | |||||||||
Obligation to return securities received as collateral | 41,692 | 36,945 | |||||||||
Trading liabilities | 32,520 | 33,478 | |||||||||
Short-term borrowings | 17,263 | 12,740 | |||||||||
Long-term debt | 106,676 | 106,359 | |||||||||
Brokerage payables | 19,154 | 13,471 | |||||||||
Other liabilities | 19,720 | 20,332 | |||||||||
Total liabilities | 634,655 | 622,076 | |||||||||
Total shareholders' equity | 29,429 | 29,325 | |||||||||
Noncontrolling interests | 778 | 619 | |||||||||
Total equity | 30,207 | 29,944 | |||||||||
Total liabilities and equity | SFr 664,862 | SFr 652,020 | |||||||||
[1] | Includes restricted cash. | ||||||||||
[2] | Includes restricted cash. |
Subsidiary guarantee informat_6
Subsidiary guarantee information - Cash flow related (Details 4) - CHF (SFr) SFr in Millions | 6 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | |||
Operating activities of continuing operations | ||||
Net cash provided by/(used in) operating activities | SFr (3,460) | SFr 11,854 | ||
Investing activities of continuing operations | ||||
(Increase)/decrease in interest-bearing deposits with banks | 236 | (299) | ||
(Increase)/decrease in central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 2,920 | (963) | ||
Purchase of investment securities | (307) | (379) | ||
Proceeds from sale of investment securities | 4 | 255 | ||
Investments in subsidiaries and other investments | (147) | (306) | ||
Proceeds from sale of other investments | 592 | 637 | ||
Maturities of investment securities | 394 | 130 | ||
(Increase)/decrease in loans | (9,867) | (10,171) | [1] | |
Proceeds from sale of loans | 2,460 | 3,472 | [1] | |
Capital expenditures for premises and equipment and other intangible assets | (554) | (529) | ||
Proceeds from sale of premises and equipment and other intangible assets | 29 | 29 | ||
Other, net | 222 | 204 | ||
Net cash provided by/(used in) investing activities | (4,018) | (7,920) | ||
Financing activities of continuing operations | ||||
Increase/(decrease) in due to banks and customer deposits | 4,997 | 6,359 | ||
Increase/(decrease) in short-term borrowings | 3,844 | 4,452 | ||
Increase/(decrease) in central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (4,967) | (6,768) | ||
Issuances of long-term debt | 14,637 | 15,911 | ||
Repayments of long-term debt | (18,604) | (20,540) | ||
Sale of treasury shares | 4,720 | 6,175 | ||
Repurchase of treasury shares | (5,718) | (6,899) | ||
Dividends paid/capital repayments | (696) | (665) | ||
Other, net | 1,854 | 262 | ||
Net cash provided by/(used in) financing activities | 67 | (1,713) | ||
Effect of exchange rate changes on cash and due from banks | ||||
Effect of exchange rate changes on cash and due from banks | (147) | 477 | ||
Net increase/(decrease) in cash and due from banks | ||||
Net increase/(decrease) in cash and due from banks | (7,558) | 2,698 | ||
Cash and due from banks at beginning of period | [2] | 100,047 | 109,815 | |
Cash and due from banks at end of period | [2] | 92,489 | 112,513 | |
Eliminations and consolidation adjustments | ||||
Operating activities of continuing operations | ||||
Net cash provided by/(used in) operating activities | (847) | 156 | ||
Investing activities of continuing operations | ||||
(Increase)/decrease in interest-bearing deposits with banks | (6) | 8 | ||
(Increase)/decrease in central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 0 | 0 | ||
Purchase of investment securities | 3,517 | 4,846 | ||
Proceeds from sale of investment securities | 0 | 0 | ||
Investments in subsidiaries and other investments | 5 | 5 | ||
Proceeds from sale of other investments | (1) | (9) | ||
Maturities of investment securities | 0 | 0 | ||
(Increase)/decrease in loans | 1,198 | 1,416 | ||
Proceeds from sale of loans | 0 | 0 | ||
Capital expenditures for premises and equipment and other intangible assets | (83) | (53) | ||
Proceeds from sale of premises and equipment and other intangible assets | 0 | (51) | ||
Other, net | 0 | 0 | ||
Net cash provided by/(used in) investing activities | 4,630 | 6,162 | ||
Financing activities of continuing operations | ||||
Increase/(decrease) in due to banks and customer deposits | (317) | (803) | ||
Increase/(decrease) in short-term borrowings | (47) | (8) | ||
Increase/(decrease) in central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (111) | 0 | ||
Issuances of long-term debt | (4,239) | (4,744) | ||
Repayments of long-term debt | 0 | 0 | ||
Sale of treasury shares | 4,717 | 6,175 | ||
Repurchase of treasury shares | (4,705) | (6,142) | ||
Dividends paid/capital repayments | 10 | 10 | ||
Other, net | 948 | 25 | ||
Net cash provided by/(used in) financing activities | (3,744) | (5,487) | ||
Effect of exchange rate changes on cash and due from banks | ||||
Effect of exchange rate changes on cash and due from banks | 3 | (9) | ||
Net increase/(decrease) in cash and due from banks | ||||
Net increase/(decrease) in cash and due from banks | 42 | 822 | ||
Cash and due from banks at beginning of period | 409 | (211) | ||
Cash and due from banks at end of period | 451 | 611 | ||
Group parent company | ||||
Operating activities of continuing operations | ||||
Net cash provided by/(used in) operating activities | (111) | (130) | ||
Investing activities of continuing operations | ||||
(Increase)/decrease in interest-bearing deposits with banks | 5 | (8) | ||
(Increase)/decrease in central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 0 | 0 | ||
Purchase of investment securities | (3,517) | (4,846) | ||
Proceeds from sale of investment securities | 0 | 0 | ||
Investments in subsidiaries and other investments | (5) | (5) | ||
Proceeds from sale of other investments | 25 | 4 | ||
Maturities of investment securities | 0 | 0 | ||
(Increase)/decrease in loans | 0 | 0 | ||
Proceeds from sale of loans | 0 | 0 | ||
Capital expenditures for premises and equipment and other intangible assets | 0 | 0 | ||
Proceeds from sale of premises and equipment and other intangible assets | 0 | 0 | ||
Other, net | 0 | 0 | ||
Net cash provided by/(used in) investing activities | (3,492) | (4,855) | ||
Financing activities of continuing operations | ||||
Increase/(decrease) in due to banks and customer deposits | 405 | 522 | ||
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 | 4,217 | 4,622 | ||
Repayments of long-term debt | 0 | 0 | ||
Sale of treasury shares | 3 | 0 | ||
Repurchase of treasury shares | (1,013) | (757) | ||
Dividends paid/capital repayments | (695) | (661) | ||
Other, net | 626 | 1,009 | ||
Net cash provided by/(used in) financing activities | 3,543 | 4,735 | ||
Effect of exchange rate changes on cash and due from banks | ||||
Effect of exchange rate changes on cash and due from banks | 0 | 0 | ||
Net increase/(decrease) in cash and due from banks | ||||
Net increase/(decrease) in cash and due from banks | (60) | (250) | ||
Cash and due from banks at beginning of period | 324 | 516 | ||
Cash and due from banks at end of period | 264 | 266 | ||
Bank | ||||
Operating activities of continuing operations | ||||
Net cash provided by/(used in) operating activities | (2,502) | 11,828 | ||
Investing activities of continuing operations | ||||
(Increase)/decrease in interest-bearing deposits with banks | 237 | (299) | ||
(Increase)/decrease in central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 2,920 | (963) | ||
Purchase of investment securities | (307) | (379) | ||
Proceeds from sale of investment securities | 4 | 255 | ||
Investments in subsidiaries and other investments | (147) | (306) | ||
Proceeds from sale of other investments | 568 | 642 | ||
Maturities of investment securities | 394 | 130 | ||
(Increase)/decrease in loans | (11,065) | (11,587) | [3] | |
Proceeds from sale of loans | 2,460 | 3,472 | [3] | |
Capital expenditures for premises and equipment and other intangible assets | (471) | (476) | ||
Proceeds from sale of premises and equipment and other intangible assets | 29 | 80 | ||
Other, net | 222 | 204 | ||
Net cash provided by/(used in) investing activities | (5,156) | (9,227) | ||
Financing activities of continuing operations | ||||
Increase/(decrease) in due to banks and customer deposits | 4,909 | 6,640 | ||
Increase/(decrease) in short-term borrowings | 3,891 | 4,460 | ||
Increase/(decrease) in central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (4,856) | (6,768) | ||
Issuances of long-term debt | 14,659 | 16,033 | ||
Repayments of long-term debt | (18,604) | (20,540) | ||
Sale of treasury shares | 0 | 0 | ||
Repurchase of treasury shares | 0 | 0 | ||
Dividends paid/capital repayments | (11) | (14) | ||
Other, net | 280 | (772) | ||
Net cash provided by/(used in) financing activities | 268 | (961) | ||
Effect of exchange rate changes on cash and due from banks | ||||
Effect of exchange rate changes on cash and due from banks | (150) | 486 | ||
Net increase/(decrease) in cash and due from banks | ||||
Net increase/(decrease) in cash and due from banks | (7,540) | 2,126 | ||
Cash and due from banks at beginning of period | [4] | 99,314 | 109,510 | |
Cash and due from banks at end of period | [4] | 91,774 | 111,636 | |
Bank | Credit Suisse (USA), Inc - Consolidated | ||||
Operating activities of continuing operations | ||||
Net cash provided by/(used in) operating activities | 738 | (1,870) | ||
Investing activities of continuing operations | ||||
(Increase)/decrease in interest-bearing deposits with banks | 12 | 11 | ||
(Increase)/decrease in central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | (3,428) | 1,462 | ||
Purchase of investment securities | 0 | 0 | ||
Proceeds from sale of investment securities | 0 | 0 | ||
Investments in subsidiaries and other investments | (40) | (85) | ||
Proceeds from sale of other investments | 317 | 168 | ||
Maturities of investment securities | 0 | 0 | ||
(Increase)/decrease in loans | (419) | 151 | ||
Proceeds from sale of loans | 0 | 0 | ||
Capital expenditures for premises and equipment and other intangible assets | (144) | (133) | ||
Proceeds from sale of premises and equipment and other intangible assets | 0 | 0 | ||
Other, net | 40 | 3 | ||
Net cash provided by/(used in) investing activities | (3,662) | 1,577 | ||
Financing activities of continuing operations | ||||
Increase/(decrease) in due to banks and customer deposits | 37 | (171) | ||
Increase/(decrease) in short-term borrowings | (228) | (2,189) | ||
Increase/(decrease) in central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (228) | 1,206 | ||
Issuances of long-term debt | 106,285 | 7,734 | ||
Repayments of long-term debt | (102,644) | (6,104) | ||
Sale of treasury shares | 0 | 0 | ||
Repurchase of treasury shares | 0 | 0 | ||
Dividends paid/capital repayments | (1) | (1) | ||
Other, net | (126) | (305) | ||
Net cash provided by/(used in) financing activities | 3,095 | 170 | ||
Effect of exchange rate changes on cash and due from banks | ||||
Effect of exchange rate changes on cash and due from banks | (24) | 49 | ||
Net increase/(decrease) in cash and due from banks | ||||
Net increase/(decrease) in cash and due from banks | 147 | (74) | ||
Cash and due from banks at beginning of period | 2,540 | 3,058 | ||
Cash and due from banks at end of period | 2,687 | 2,984 | ||
Bank | Bank parent company and other subsidiaries | Eliminations and consolidation adjustments | ||||
Operating activities of continuing operations | ||||
Net cash provided by/(used in) operating activities | (3,240) | 13,698 | ||
Investing activities of continuing operations | ||||
(Increase)/decrease in interest-bearing deposits with banks | 225 | (310) | ||
(Increase)/decrease in central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 6,348 | (2,425) | ||
Purchase of investment securities | (307) | (379) | ||
Proceeds from sale of investment securities | 4 | 255 | ||
Investments in subsidiaries and other investments | (107) | (221) | ||
Proceeds from sale of other investments | 251 | 474 | ||
Maturities of investment securities | 394 | 130 | ||
(Increase)/decrease in loans | (10,646) | (11,738) | ||
Proceeds from sale of loans | 2,460 | 3,472 | ||
Capital expenditures for premises and equipment and other intangible assets | (327) | (343) | ||
Proceeds from sale of premises and equipment and other intangible assets | 29 | 80 | ||
Other, net | 182 | 201 | ||
Net cash provided by/(used in) investing activities | (1,494) | (10,804) | ||
Financing activities of continuing operations | ||||
Increase/(decrease) in due to banks and customer deposits | 4,872 | 6,811 | ||
Increase/(decrease) in short-term borrowings | 4,119 | 6,649 | ||
Increase/(decrease) in central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (4,628) | (7,974) | ||
Issuances of long-term debt | (91,626) | 8,299 | ||
Repayments of long-term debt | 84,040 | (14,436) | ||
Sale of treasury shares | 0 | 0 | ||
Repurchase of treasury shares | 0 | 0 | ||
Dividends paid/capital repayments | (10) | (13) | ||
Other, net | 406 | (467) | ||
Net cash provided by/(used in) financing activities | (2,827) | (1,131) | ||
Effect of exchange rate changes on cash and due from banks | ||||
Effect of exchange rate changes on cash and due from banks | (126) | 437 | ||
Net increase/(decrease) in cash and due from banks | ||||
Net increase/(decrease) in cash and due from banks | (7,687) | 2,200 | ||
Cash and due from banks at beginning of period | 96,774 | 106,452 | ||
Cash and due from banks at end of period | 89,087 | 108,652 | ||
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 14 | SFr 6 | ||
[1] | Prior period has been corrected. | |||
[2] | Includes restricted cash. | |||
[3] | Prior period has been corrected. | |||
[4] | Includes restricted cash. |