Document and Entity Information
Document and Entity Information | 6 Months Ended |
Jun. 30, 2022 | |
Entity Information [Line Items] | |
Document Type | 6-K |
Document Period End Date | Jun. 30, 2022 |
Entity Registrant Name | Credit Suisse Group AG |
Entity Central Index Key | 0001159510 |
Amendment Flag | false |
Current Fiscal Year End Date | --12-31 |
Document Fiscal Year Focus | 2022 |
Document Fiscal Period Focus | Q2 |
Bank | |
Entity Information [Line Items] | |
Document Type | 6-K |
Document Period End Date | Jun. 30, 2022 |
Entity Registrant Name | Credit Suisse AG |
Entity Central Index Key | 0001053092 |
Amendment Flag | false |
Current Fiscal Year End Date | --12-31 |
Document Fiscal Year Focus | 2022 |
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, 2022 | Mar. 31, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Interest and dividend income | SFr 2,474 | SFr 2,234 | SFr 2,426 | SFr 4,708 | SFr 5,013 |
Interest expense | (1,279) | (775) | (1,010) | (2,054) | (1,943) |
Net interest income | 1,195 | 1,459 | 1,416 | 2,654 | 3,070 |
Commissions and fees | 2,230 | 2,601 | 3,158 | 4,831 | 6,895 |
Trading revenues | 41 | (36) | 153 | 5 | 1,964 |
Other revenues | 179 | 388 | 376 | 567 | 748 |
Net revenues | 3,645 | 4,412 | 5,103 | 8,057 | 12,677 |
Provision for credit losses | 64 | (110) | (25) | (46) | 4,369 |
Compensation and benefits | 2,392 | 2,458 | 2,356 | 4,850 | 4,563 |
General and administrative expenses | 2,005 | 2,148 | 1,589 | 4,153 | 2,965 |
Commission expenses | 254 | 298 | 325 | 552 | 654 |
Goodwill impairment | 23 | 0 | 0 | 23 | 0 |
Restructuring expenses | 80 | 46 | 45 | 126 | 70 |
Total other operating expenses | 2,362 | 2,492 | 1,959 | 4,854 | 3,689 |
Total operating expenses | 4,754 | 4,950 | 4,315 | 9,704 | 8,252 |
Income/(loss) before taxes | (1,173) | (428) | 813 | (1,601) | 56 |
Income tax expense/(benefit) | 419 | (151) | 566 | 268 | 40 |
Net income/(loss) | (1,592) | (277) | 247 | (1,869) | 16 |
Net income/(loss) attributable to noncontrolling interests | 1 | (4) | (6) | (3) | 15 |
Net income/(loss) attributable to shareholders | SFr (1,593) | SFr (273) | SFr 253 | SFr (1,866) | SFr 1 |
Basic earnings per share (CHF) | |||||
Basic earnings/(loss) per share (in CHF per share) | SFr (0.60) | SFr (0.10) | SFr 0.10 | SFr (0.71) | SFr 0 |
Diluted earnings per share (CHF) | |||||
Diluted earnings/(loss) per share (in CHF per share) | SFr (0.60) | SFr (0.10) | SFr 0.10 | SFr (0.71) | SFr 0 |
Bank | |||||
Interest and dividend income | SFr 4,685 | SFr 4,987 | |||
Interest expense | (2,000) | (1,874) | |||
Net interest income | 2,685 | 3,113 | |||
Commissions and fees | 4,806 | 6,926 | |||
Trading revenues | (46) | 1,924 | |||
Other revenues | 685 | 919 | |||
Net revenues | 8,130 | 12,882 | |||
Provision for credit losses | (47) | 4,373 | |||
Compensation and benefits | 4,241 | 4,096 | |||
General and administrative expenses | 4,995 | 3,664 | |||
Commission expenses | 552 | 654 | |||
Goodwill impairment | 23 | 0 | |||
Restructuring expenses | 120 | 80 | |||
Total other operating expenses | 5,690 | 4,398 | |||
Total operating expenses | 9,931 | 8,494 | |||
Income/(loss) before taxes | (1,754) | 15 | |||
Income tax expense/(benefit) | 221 | 6 | |||
Net income/(loss) | (1,975) | 9 | |||
Net income/(loss) attributable to noncontrolling interests | (1) | (103) | |||
Net income/(loss) attributable to shareholders | SFr (1,974) | SFr 112 |
Consolidated statements of comp
Consolidated statements of comprehensive income - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Comprehensive income | |||||
Net income/(loss) | SFr (1,592) | SFr (277) | SFr 247 | SFr (1,869) | SFr 16 |
Gains/(losses) on cash flow hedges | (250) | (599) | (41) | (849) | (144) |
Foreign currency translation | 765 | 181 | (472) | 946 | 1,533 |
Unrealized gains/(losses) on securities | (1) | (5) | 0 | (6) | 0 |
Actuarial gains/(losses) | 61 | 61 | (11) | 122 | 54 |
Net prior service cost | (18) | (17) | (24) | (35) | (48) |
Gains/(losses) on liabilities related to credit risk | 2,552 | 1,061 | (483) | 3,613 | 68 |
Other comprehensive income/(loss), net of tax | 3,109 | 682 | (1,031) | 3,791 | 1,463 |
Comprehensive income/(loss) | 1,517 | 405 | (784) | 1,922 | 1,479 |
Comprehensive income/(loss) attributable to noncontrolling interests | 1 | (2) | (7) | (1) | 25 |
Comprehensive income/(loss) attributable to shareholders | SFr 1,516 | SFr 407 | SFr (777) | 1,923 | 1,454 |
Bank | |||||
Comprehensive income | |||||
Net income/(loss) | (1,975) | 9 | |||
Gains/(losses) on cash flow hedges | (848) | (143) | |||
Foreign currency translation | 953 | 1,510 | |||
Unrealized gains/(losses) on securities | (6) | 0 | |||
Actuarial gains/(losses) | 4 | (87) | |||
Gains/(losses) on liabilities related to credit risk | 3,533 | 72 | |||
Other comprehensive income/(loss), net of tax | 3,636 | 1,352 | |||
Comprehensive income/(loss) | 1,661 | 1,361 | |||
Comprehensive income/(loss) attributable to noncontrolling interests | 18 | (68) | |||
Comprehensive income/(loss) attributable to shareholders | SFr 1,643 | SFr 1,429 |
Consolidated balance sheets
Consolidated balance sheets - CHF (SFr) SFr in Millions | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 | |||||
Assets | |||||||||||
Cash and due from banks | SFr 159,472 | [1] | SFr 167,950 | SFr 164,818 | [1] | SFr 146,358 | [1] | SFr 139,112 | [1] | ||
Interest-bearing deposits with banks | 851 | 998 | 1,323 | ||||||||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 104,156 | 95,282 | 103,906 | ||||||||
Securities received as collateral, at fair value | 7,386 | 8,084 | 15,017 | ||||||||
Trading assets, at fair value | 101,095 | 106,971 | 111,141 | ||||||||
Total investment securities | 739 | 809 | 1,005 | ||||||||
Other investments | 5,783 | 5,794 | 5,826 | ||||||||
Net loans | 285,573 | 287,682 | 291,686 | ||||||||
Goodwill | 2,974 | 2,931 | 2,917 | ||||||||
Other intangible assets | 340 | 307 | 276 | ||||||||
Brokerage receivables | 15,060 | 18,359 | 16,687 | ||||||||
Other assets | 43,936 | 44,387 | 41,231 | ||||||||
Total assets | 727,365 | 739,554 | 755,833 | ||||||||
Liabilities and equity | |||||||||||
Due to banks | 23,616 | 18,891 | 18,965 | ||||||||
Customer deposits | 389,484 | 398,624 | 392,819 | ||||||||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 21,568 | 27,711 | 35,274 | ||||||||
Obligation to return securities received as collateral, at fair value | 7,386 | 8,084 | 15,017 | ||||||||
Trading liabilities, at fair value | 29,967 | 28,184 | 27,535 | ||||||||
Short-term borrowings | 20,145 | 17,399 | 19,393 | ||||||||
Long-term debt | 158,010 | 160,320 | 166,896 | ||||||||
Brokerage payables | 8,061 | 13,687 | 13,060 | ||||||||
Other liabilities | 23,062 | 21,978 | 22,644 | ||||||||
Total liabilities | 681,299 | 694,878 | 711,603 | ||||||||
Common shares | 106 | 106 | 106 | ||||||||
Additional paid-in capital | 34,631 | 35,114 | 34,938 | ||||||||
Retained earnings | 29,059 | 30,791 | 31,064 | ||||||||
Treasury shares, at cost | (417) | (923) | (828) | ||||||||
Accumulated other comprehensive income/(loss) | (17,537) | (20,646) | (21,326) | ||||||||
Total shareholders' equity | 45,842 | 44,442 | 43,954 | ||||||||
Noncontrolling interests | 224 | 234 | 276 | ||||||||
Total equity | 46,066 | 44,676 | 44,230 | 43,875 | SFr 44,884 | 42,941 | |||||
Total liabilities and equity | 727,365 | SFr 739,554 | 755,833 | ||||||||
Bank | |||||||||||
Assets | |||||||||||
Cash and due from banks | [2] | 158,700 | 164,026 | 145,367 | 138,207 | ||||||
Interest-bearing deposits with banks | 780 | 1,256 | |||||||||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 104,156 | 103,906 | |||||||||
Securities received as collateral, at fair value | 7,386 | 15,017 | |||||||||
Trading assets, at fair value | 101,232 | 111,299 | |||||||||
Total investment securities | 737 | 1,003 | |||||||||
Other investments | 5,733 | 5,788 | |||||||||
Net loans | 294,005 | 300,358 | |||||||||
Goodwill | 2,939 | 2,881 | |||||||||
Other intangible assets | 340 | 276 | |||||||||
Brokerage receivables | 15,062 | 16,689 | |||||||||
Other assets | 39,225 | 36,715 | |||||||||
Total assets | 730,295 | 759,214 | |||||||||
Liabilities and equity | |||||||||||
Due to banks | 23,614 | 18,960 | |||||||||
Customer deposits | 390,762 | 393,841 | |||||||||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 21,662 | 35,368 | |||||||||
Obligation to return securities received as collateral, at fair value | 7,386 | 15,017 | |||||||||
Trading liabilities, at fair value | 29,967 | 27,539 | |||||||||
Short-term borrowings | 25,567 | 25,336 | |||||||||
Long-term debt | 152,348 | 160,695 | |||||||||
Brokerage payables | 8,063 | 13,062 | |||||||||
Other liabilities | 21,817 | 21,309 | |||||||||
Total liabilities | 681,186 | 711,127 | |||||||||
Common shares | 4,400 | 4,400 | |||||||||
Additional paid-in capital | 46,829 | 47,417 | |||||||||
Retained earnings | 12,958 | 14,932 | |||||||||
Accumulated other comprehensive income/(loss) | (15,742) | (19,359) | |||||||||
Total shareholders' equity | 48,445 | 47,390 | |||||||||
Noncontrolling interests | 664 | 697 | |||||||||
Total equity | 49,109 | 48,087 | SFr 49,292 | SFr 47,059 | |||||||
Total liabilities and equity | SFr 730,295 | SFr 759,214 | |||||||||
[1]Includes restricted cash.[2]Includes restricted cash. |
Consolidated balance sheets (Pa
Consolidated balance sheets (Parenthetical) - CHF (SFr) SFr in Millions | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | ||||
Assets | |||||||
Cash and due from banks | SFr 159,472 | [1] | SFr 167,950 | SFr 164,818 | [1] | ||
of which reported at fair value | 165 | 148 | 308 | ||||
Interest-bearing deposits with banks | 851 | 998 | 1,323 | ||||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 104,156 | 95,282 | 103,906 | ||||
of which reported at fair value | 82,392 | 71,059 | 68,623 | ||||
Securities received as collateral, at fair value | 7,386 | 8,084 | 15,017 | ||||
of which encumbered | 5,063 | 5,899 | 8,455 | ||||
Trading assets, at fair value | 101,095 | 106,971 | 111,141 | ||||
of which encumbered | 28,669 | 31,721 | 30,092 | ||||
Total investment securities | 739 | 809 | 1,005 | ||||
of which reported at fair value | 739 | 809 | 1,005 | ||||
of which encumbered | 646 | 503 | 516 | ||||
Other investments | 5,783 | 5,794 | 5,826 | ||||
of which reported at fair value | 3,987 | 4,019 | 4,094 | ||||
Net loans | 285,573 | 287,682 | 291,686 | ||||
of which reported at fair value | 9,099 | 9,545 | 10,243 | ||||
of which encumbered | 46 | 57 | 42 | ||||
Allowance for credit losses | (1,360) | (1,330) | (1,297) | ||||
Goodwill | 2,974 | 2,931 | 2,917 | ||||
Other intangible assets | 340 | 307 | 276 | ||||
of which reported at fair value | 290 | 256 | 224 | ||||
Brokerage receivables | 15,060 | 18,359 | 16,687 | ||||
Brokerage receivables, Allowance for credit losses | (4,215) | (4,069) | (4,186) | ||||
Other assets | 43,936 | 44,387 | 41,231 | ||||
of which reported at fair value | 8,616 | 9,214 | 9,184 | ||||
of which loans held-for-sale reported at lower of cost and market value (amortized cost base) | 401 | 894 | 588 | ||||
Other assets, Allowance for credit losses | (31) | (30) | (30) | ||||
Total assets | 727,365 | 739,554 | 755,833 | ||||
Liabilities and equity | |||||||
Due to banks | 23,616 | 18,891 | 18,965 | ||||
of which reported at fair value | 355 | 404 | 477 | ||||
Customer deposits | 389,484 | 398,624 | 392,819 | ||||
of which reported at fair value | 3,307 | 3,437 | 3,700 | ||||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 21,568 | 27,711 | 35,274 | ||||
of which reported at fair value | 14,145 | 12,766 | 13,213 | ||||
Obligation to return securities received as collateral, at fair value | 7,386 | 8,084 | 15,017 | ||||
Trading liabilities, at fair value | 29,967 | 28,184 | 27,535 | ||||
Short-term borrowings | 20,145 | 17,399 | 19,393 | ||||
of which reported at fair value | 10,049 | 8,225 | 10,690 | ||||
Long-term debt | 158,010 | 160,320 | 166,896 | ||||
of which reported at fair value | 66,140 | 66,270 | 68,722 | ||||
Brokerage payables | 8,061 | 13,687 | 13,060 | ||||
Other liabilities | 23,062 | 21,978 | 22,644 | ||||
of which reported at fair value | 2,620 | 2,562 | 2,592 | ||||
Total liabilities | 681,299 | 694,878 | 711,603 | ||||
Common shares | 106 | 106 | 106 | ||||
Additional paid-in capital | 34,631 | 35,114 | 34,938 | ||||
Retained earnings | 29,059 | 30,791 | 31,064 | ||||
Treasury shares, at cost | (417) | (923) | (828) | ||||
Accumulated other comprehensive income/(loss) | (17,537) | (20,646) | (21,326) | ||||
Total shareholders' equity | 45,842 | 44,442 | 43,954 | ||||
Noncontrolling interests | 224 | 234 | 276 | ||||
Total equity | 46,066 | 44,676 | 44,230 | ||||
Total liabilities and equity | SFr 727,365 | SFr 739,554 | SFr 755,833 | ||||
Additional share information | |||||||
Par value (in CHF per share) | SFr 0.04 | SFr 0.04 | SFr 0.04 | ||||
Authorized shares (in shares) | [2] | 3,225,747,720 | 3,100,747,720 | 3,100,747,720 | |||
Issued shares (in shares) | 2,650,747,720 | 2,650,747,720 | 2,650,747,720 | ||||
Treasury shares (in shares) | 39,988,479 | 94,644,251 | 81,063,211 | ||||
Common shares outstanding (in shares) | 2,610,759,241 | [3] | 2,556,103,469 | [4] | 2,569,684,509 | ||
Consolidated VIEs | |||||||
Assets | |||||||
Cash and due from banks | SFr 110 | SFr 122 | SFr 108 | ||||
Trading assets, at fair value | 1,801 | 1,841 | 1,822 | ||||
Other investments | 895 | 946 | 1,015 | ||||
Net loans | 1,323 | 1,158 | 1,400 | ||||
Other assets | 2,009 | 1,776 | 1,496 | ||||
Total assets | 6,138 | 5,841 | |||||
Liabilities and equity | |||||||
Trading liabilities, at fair value | 13 | 9 | 8 | ||||
Short-term borrowings | 4,635 | 4,363 | 4,352 | ||||
Long-term debt | 1,825 | 1,475 | 1,391 | ||||
Other liabilities | 223 | SFr 212 | 231 | ||||
Total liabilities | 6,696 | 5,982 | |||||
Bank | |||||||
Assets | |||||||
Cash and due from banks | [5] | 158,700 | 164,026 | ||||
of which reported at fair value | 165 | 308 | |||||
Interest-bearing deposits with banks | 780 | 1,256 | |||||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 104,156 | 103,906 | |||||
of which reported at fair value | 82,392 | 68,623 | |||||
Securities received as collateral, at fair value | 7,386 | 15,017 | |||||
of which encumbered | 5,063 | 8,455 | |||||
Trading assets, at fair value | 101,232 | 111,299 | |||||
of which encumbered | 28,669 | 30,092 | |||||
Total investment securities | 737 | 1,003 | |||||
of which reported at fair value | 737 | 1,003 | |||||
of which encumbered | 646 | 516 | |||||
Other investments | 5,733 | 5,788 | |||||
of which reported at fair value | 3,985 | 4,093 | |||||
Net loans | 294,005 | 300,358 | |||||
of which reported at fair value | 9,099 | 10,243 | |||||
of which encumbered | 46 | 42 | |||||
Allowance for credit losses | (1,359) | (1,296) | |||||
Goodwill | 2,939 | 2,881 | |||||
Other intangible assets | 340 | 276 | |||||
of which reported at fair value | 290 | 224 | |||||
Brokerage receivables | 15,062 | 16,689 | |||||
Brokerage receivables, Allowance for credit losses | (4,215) | (4,186) | |||||
Other assets | 39,225 | 36,715 | |||||
of which reported at fair value | 8,616 | 9,184 | |||||
of which loans held-for-sale reported at lower of cost and market value (amortized cost base) | 401 | 588 | |||||
Other assets, Allowance for credit losses | (29) | (28) | |||||
Total assets | 730,295 | 759,214 | |||||
Liabilities and equity | |||||||
Due to banks | 23,614 | 18,960 | |||||
of which reported at fair value | 355 | 477 | |||||
Customer deposits | 390,762 | 393,841 | |||||
of which reported at fair value | 3,307 | 3,700 | |||||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 21,662 | 35,368 | |||||
of which reported at fair value | 14,239 | 13,307 | |||||
Obligation to return securities received as collateral, at fair value | 7,386 | 15,017 | |||||
Trading liabilities, at fair value | 29,967 | 27,539 | |||||
Short-term borrowings | 25,567 | 25,336 | |||||
of which reported at fair value | 10,049 | 10,690 | |||||
Long-term debt | 152,348 | 160,695 | |||||
of which reported at fair value | 65,276 | 67,788 | |||||
Brokerage payables | 8,063 | 13,062 | |||||
Other liabilities | 21,817 | 21,309 | |||||
of which reported at fair value | 2,604 | 2,568 | |||||
Total liabilities | 681,186 | 711,127 | |||||
Common shares | 4,400 | 4,400 | |||||
Additional paid-in capital | 46,829 | 47,417 | |||||
Retained earnings | 12,958 | 14,932 | |||||
Accumulated other comprehensive income/(loss) | (15,742) | (19,359) | |||||
Total shareholders' equity | 48,445 | 47,390 | |||||
Noncontrolling interests | 664 | 697 | |||||
Total equity | 49,109 | 48,087 | |||||
Total liabilities and equity | SFr 730,295 | SFr 759,214 | |||||
Additional share information | |||||||
Par value (in CHF per share) | [6] | SFr 1 | SFr 1 | ||||
Issued shares (in shares) | [6] | 4,399,680,200 | 4,399,680,200 | ||||
Common shares outstanding (in shares) | [6] | 4,399,680,200 | 4,399,680,200 | ||||
Bank | Consolidated VIEs | |||||||
Assets | |||||||
Cash and due from banks | SFr 110 | SFr 108 | |||||
Trading assets, at fair value | 1,801 | 1,822 | |||||
Other investments | 895 | 1,015 | |||||
Net loans | 1,323 | 1,400 | |||||
Other assets | 1,997 | 1,482 | |||||
Total assets | 6,126 | 5,827 | |||||
Liabilities and equity | |||||||
Trading liabilities, at fair value | 13 | 8 | |||||
Short-term borrowings | 4,635 | 4,352 | |||||
Long-term debt | 1,825 | 1,391 | |||||
Other liabilities | 223 | 233 | |||||
Total liabilities | SFr 6,696 | SFr 5,984 | |||||
[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 575,000,000 unissued shares (conditional, conversion and authorized capital) were available for issuance without further approval of the shareholders. 111,524,164 of these shares were reserved for capital instruments.[4]At par value CHF 0.04 each, fully paid. In addition to the treasury shares, a maximum of 450,000,000 unissued shares (conditional, conversion and authorized capital) were available for issuance without further approval of the shareholders. 111,524,164 of these shares were reserved for capital instruments.[5]Includes restricted cash.[6]The Bank's total share capital is fully paid and consists of 4,399,680,200 registered shares as of June 30, 2022. 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 | Bank Total shareholders' equity | Bank Common shares | Bank Additional paid-in capital | Bank Retained earnings | Bank Treasury shares, at cost | Bank Accumulated other comprehensive income | Bank Noncontrolling interests | ||||||
Balance at Dec. 31, 2020 | SFr 42,941 | SFr 42,677 | SFr 98 | SFr 33,323 | SFr 32,834 | SFr (428) | SFr (23,150) | SFr 264 | SFr 47,059 | SFr 46,264 | SFr 4,400 | SFr 46,232 | SFr 15,871 | SFr 0 | SFr (20,239) | SFr 795 | ||||||
Increase (decrease) in shareholders' equity | ||||||||||||||||||||||
Purchase of subsidiary shares from noncontrolling interests, not changing ownership | (23) | (23) | (24) | (24) | ||||||||||||||||||
Sale of subsidiary shares to noncontrolling interests, not changing ownership | 10 | 10 | 10 | 10 | ||||||||||||||||||
Net income/(loss) | 16 | 1 | 1 | 15 | 9 | 112 | 112 | (103) | ||||||||||||||
Total other comprehensive income/(loss), net of tax | 1,463 | 1,453 | 1,453 | 10 | 1,352 | 1,317 | 1,317 | 35 | ||||||||||||||
Issuance of common shares | 0 | 8 | 1,748 | (1,756) | ||||||||||||||||||
Other activities relating to the issuance of common shares | 1 | 1 | 1 | |||||||||||||||||||
Sale of treasury shares | 11,663 | 11,663 | (14) | 11,677 | ||||||||||||||||||
Repurchase of treasury shares | (12,279) | (12,279) | (12,279) | |||||||||||||||||||
Share-based compensation, net of tax | 349 | 349 | (259) | 608 | (175) | (175) | (175) | |||||||||||||||
Dividends on share-based compensation, net of tax | (15) | (15) | (15) | |||||||||||||||||||
Dividends paid | (257) | (256) | (120) | (11) | (10) | (10) | ||||||||||||||||
Dividends paid out of reserves from capital contributions | (136) | |||||||||||||||||||||
Cash dividends paid to noncontrolling interest holders | (1) | (1) | ||||||||||||||||||||
Change in scope of consolidation, net | 20 | 20 | 20 | 20 | ||||||||||||||||||
Other | (29) | (29) | (29) | 1,067 | 1,069 | 1,069 | (2) | |||||||||||||||
Balance at Jun. 30, 2021 | 43,875 | 43,580 | 106 | 34,633 | 32,715 | (2,177) | (21,697) | 295 | 49,292 | 48,562 | 4,400 | 47,111 | 15,973 | 0 | (18,922) | 730 | ||||||
Balance at Mar. 31, 2021 | 44,884 | 44,590 | 98 | 33,523 | 32,582 | (946) | (20,667) | 294 | ||||||||||||||
Increase (decrease) in shareholders' equity | ||||||||||||||||||||||
Purchase of subsidiary shares from noncontrolling interests, not changing ownership | (16) | (16) | ||||||||||||||||||||
Sale of subsidiary shares to noncontrolling interests, not changing ownership | 5 | 5 | ||||||||||||||||||||
Net income/(loss) | 247 | 253 | 253 | (6) | ||||||||||||||||||
Total other comprehensive income/(loss), net of tax | (1,031) | (1,030) | (1,030) | (1) | ||||||||||||||||||
Issuance of common shares | 0 | 8 | 1,748 | (1,756) | ||||||||||||||||||
Other activities relating to the issuance of common shares | 1 | 1 | 1 | |||||||||||||||||||
Sale of treasury shares | 4,897 | 4,897 | (10) | 4,907 | ||||||||||||||||||
Repurchase of treasury shares | (4,944) | (4,944) | (4,944) | |||||||||||||||||||
Share-based compensation, net of tax | 98 | 98 | (463) | 561 | ||||||||||||||||||
Dividends paid | (257) | (256) | (120) | |||||||||||||||||||
Dividends paid out of reserves from capital contributions | (136) | |||||||||||||||||||||
Cash dividends paid to noncontrolling interest holders | (1) | |||||||||||||||||||||
Change in scope of consolidation, net | 20 | 20 | ||||||||||||||||||||
Other | (29) | (29) | (29) | |||||||||||||||||||
Balance at Jun. 30, 2021 | 43,875 | 43,580 | 106 | 34,633 | 32,715 | (2,177) | (21,697) | 295 | 49,292 | 48,562 | 4,400 | 47,111 | 15,973 | 0 | (18,922) | 730 | ||||||
Balance at Dec. 31, 2021 | 44,230 | 43,954 | 106 | 34,938 | 31,064 | (828) | (21,326) | 276 | 48,087 | 47,390 | 4,400 | 47,417 | 14,932 | 0 | [1] | (19,359) | 697 | |||||
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 | 6 | 6 | ||||||||||||||||||||
Net income/(loss) | (277) | (273) | (273) | (4) | ||||||||||||||||||
Total other comprehensive income/(loss), net of tax | 682 | 680 | 680 | 2 | ||||||||||||||||||
Sale of treasury shares | 4,663 | 4,663 | (19) | 4,682 | ||||||||||||||||||
Repurchase of treasury shares | (4,830) | (4,830) | (4,830) | |||||||||||||||||||
Share-based compensation, net of tax | 248 | 248 | 195 | 53 | ||||||||||||||||||
Change in scope of consolidation, net | (43) | (43) | ||||||||||||||||||||
Balance at Mar. 31, 2022 | 44,676 | 44,442 | 106 | 35,114 | 30,791 | (923) | (20,646) | 234 | ||||||||||||||
Balance at Dec. 31, 2021 | 44,230 | 43,954 | 106 | 34,938 | 31,064 | (828) | (21,326) | 276 | 48,087 | 47,390 | 4,400 | 47,417 | 14,932 | 0 | [1] | (19,359) | 697 | |||||
Increase (decrease) in shareholders' equity | ||||||||||||||||||||||
Purchase of subsidiary shares from noncontrolling interests, not changing ownership | (15) | [2],[3] | (15) | [2],[3] | (15) | [4],[5] | (15) | [4],[5] | ||||||||||||||
Sale of subsidiary shares to noncontrolling interests, not changing ownership | 8 | [3] | 8 | [3] | 8 | [5] | 8 | [5] | ||||||||||||||
Net income/(loss) | (1,869) | (1,866) | (1,866) | (3) | (1,975) | (1,974) | (1,974) | (1) | ||||||||||||||
Total other comprehensive income/(loss), net of tax | 3,791 | 3,789 | 3,789 | 2 | 3,636 | 3,617 | 3,617 | 19 | ||||||||||||||
Sale of treasury shares | 8,005 | 8,005 | (44) | 8,049 | ||||||||||||||||||
Repurchase of treasury shares | (8,136) | (8,136) | (8,136) | |||||||||||||||||||
Share-based compensation, net of tax | 377 | 377 | (121) | 498 | (3) | (3) | (3) | |||||||||||||||
Dividends on share-based compensation, net of tax | (15) | (15) | (15) | |||||||||||||||||||
Dividends paid | (280) | (279) | (139) | (571) | (570) | (570) | ||||||||||||||||
Dividends paid out of reserves from capital contributions | [6] | (140) | ||||||||||||||||||||
Cash dividends paid to noncontrolling interest holders | (1) | (1) | ||||||||||||||||||||
Change in scope of consolidation, net | (43) | (43) | (43) | (43) | ||||||||||||||||||
Other | (2) | (2) | (2) | |||||||||||||||||||
Balance at Jun. 30, 2022 | 46,066 | 45,842 | 106 | 34,631 | 29,059 | (417) | (17,537) | 224 | 49,109 | 48,445 | 4,400 | 46,829 | 12,958 | 0 | [1] | (15,742) | 664 | |||||
Balance at Mar. 31, 2022 | 44,676 | 44,442 | 106 | 35,114 | 30,791 | (923) | (20,646) | 234 | ||||||||||||||
Increase (decrease) in shareholders' equity | ||||||||||||||||||||||
Purchase of subsidiary shares from noncontrolling interests, not changing ownership | [7],[8] | (12) | (12) | |||||||||||||||||||
Sale of subsidiary shares to noncontrolling interests, not changing ownership | [8] | 2 | 2 | |||||||||||||||||||
Net income/(loss) | (1,592) | (1,593) | (1,593) | 1 | ||||||||||||||||||
Total other comprehensive income/(loss), net of tax | 3,109 | 3,109 | 3,109 | |||||||||||||||||||
Sale of treasury shares | 3,342 | 3,342 | (25) | 3,367 | ||||||||||||||||||
Repurchase of treasury shares | (3,306) | (3,306) | (3,306) | |||||||||||||||||||
Share-based compensation, net of tax | 129 | 129 | (316) | 445 | ||||||||||||||||||
Dividends paid | (280) | (279) | (139) | |||||||||||||||||||
Dividends paid out of reserves from capital contributions | [9] | (140) | ||||||||||||||||||||
Cash dividends paid to noncontrolling interest holders | (1) | |||||||||||||||||||||
Other | (2) | (2) | (2) | |||||||||||||||||||
Balance at Jun. 30, 2022 | SFr 46,066 | SFr 45,842 | SFr 106 | SFr 34,631 | SFr 29,059 | SFr (417) | SFr (17,537) | SFr 224 | SFr 49,109 | SFr 48,445 | SFr 4,400 | SFr 46,829 | SFr 12,958 | SFr 0 | [1] | SFr (15,742) | SFr 664 | |||||
[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]Paid out of capital contribution reserves.[7]Distributions to owners in funds include the return of original capital invested and any related dividends.[8]Transactions with and without ownership changes related to fund activity are all displayed under "not changing ownership".[9]Paid out of capital contribution reserves. |
Consolidated statements of cash
Consolidated statements of cash flows - CHF (SFr) SFr in Millions | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | ||
Operating activities of continuing operations | |||
Net income/(loss) | SFr (1,869) | SFr 16 | |
Adjustments to reconcile net income/(loss) to net cash provided by/(used in) operating activities of continuing operations | |||
Impairment, depreciation and amortization | 775 | 706 | |
Provision for credit losses | (46) | 4,369 | |
Deferred tax provision/(benefit) | (23) | (302) | |
Share-based compensation | 522 | 577 | |
Valuation adjustments related to long-term debt | (9,506) | 1,909 | |
Share of net income/(loss) from equity method investments | (47) | (73) | |
Trading assets and liabilities, net | 13,923 | 21,529 | |
(Increase)/decrease in other assets | (314) | (839) | |
Increase/(decrease) in other liabilities | (6,011) | (5,389) | |
Other, net | (641) | (241) | |
Total adjustments | (1,368) | 22,246 | |
Net cash provided by/(used in) operating activities | (3,237) | 22,262 | |
Investing activities of continuing operations | |||
(Increase)/decrease in interest-bearing deposits with banks | 462 | 9 | |
(Increase)/decrease in central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | (4,344) | (11,851) | |
Purchase of investment securities | (81) | (213) | |
Proceeds from sale of investment securities | 45 | 0 | |
Maturities of investment securities | 213 | 25 | |
Investments in subsidiaries and other investments | (219) | (288) | |
Proceeds from sale of other investments | 320 | 940 | |
(Increase)/decrease in loans | 6,378 | (5,073) | |
Proceeds from sale of loans | 1,384 | 2,216 | |
Capital expenditures for premises and equipment and other intangible assets | (711) | (622) | |
Proceeds from sale of premises and equipment and other intangible assets | 0 | 2 | |
Other, net | 236 | 49 | |
Net cash provided by/(used in) investing activities | 3,683 | (14,806) | |
Financing activities of continuing operations | |||
Increase/(decrease) in due to banks and customer deposits | (1,973) | 790 | |
Increase/(decrease) in short-term borrowings | 909 | 170 | |
Increase/(decrease) in central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (6,927) | (3,931) | |
Issuances of long-term debt | 31,916 | 29,405 | |
Repayments of long-term debt | (29,184) | (27,321) | |
Sale of treasury shares | 8,005 | 11,664 | |
Repurchase of treasury shares | (8,136) | (12,279) | |
Dividends paid/capital repayments | (280) | (257) | |
Other, net | (124) | (308) | |
Net cash provided by/(used in) financing activities | (5,794) | (2,067) | |
Effect of exchange rate changes on cash and due from banks | |||
Effect of exchange rate changes on cash and due from banks | 2 | 1,857 | |
Net increase/(decrease) in cash and due from banks | |||
Net increase/(decrease) in cash and due from banks | (5,346) | 7,246 | |
Cash and due from banks at beginning of period | [1] | 164,818 | 139,112 |
Cash and due from banks at end of period | [1] | 159,472 | 146,358 |
Cash paid for income taxes and interest | |||
Cash paid for income taxes | 494 | 429 | |
Cash paid for interest | 2,807 | 3,223 | |
Bank | |||
Operating activities of continuing operations | |||
Net income/(loss) | (1,975) | 9 | |
Adjustments to reconcile net income/(loss) to net cash provided by/(used in) operating activities of continuing operations | |||
Impairment, depreciation and amortization | 685 | 623 | |
Provision for credit losses | (47) | 4,373 | |
Deferred tax provision/(benefit) | (48) | (322) | |
Share-based compensation | 494 | 551 | |
Valuation adjustments related to long-term debt | (8,971) | 2,050 | |
Share of net income/(loss) from equity method investments | (47) | (72) | |
Trading assets and liabilities, net | 13,988 | 21,569 | |
(Increase)/decrease in other assets | (95) | (517) | |
Increase/(decrease) in other liabilities | (5,939) | (5,441) | |
Other, net | (766) | (234) | |
Total adjustments | (746) | 22,580 | |
Net cash provided by/(used in) operating activities | (2,721) | 22,589 | |
Investing activities of continuing operations | |||
(Increase)/decrease in interest-bearing deposits with banks | 465 | 9 | |
(Increase)/decrease in central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | (4,344) | (11,851) | |
Purchase of investment securities | (81) | (213) | |
Proceeds from sale of investment securities | 45 | 0 | |
Maturities of investment securities | 213 | 25 | |
Investments in subsidiaries and other investments | (219) | (288) | |
Proceeds from sale of other investments | 320 | 949 | |
(Increase)/decrease in loans | 6,591 | (4,919) | |
Proceeds from sale of loans | 1,384 | 2,216 | |
Capital expenditures for premises and equipment and other intangible assets | (634) | (550) | |
Proceeds from sale of premises and equipment and other intangible assets | 0 | 2 | |
Other, net | 246 | 51 | |
Net cash provided by/(used in) investing activities | 3,986 | (14,569) | |
Financing activities of continuing operations | |||
Increase/(decrease) in due to banks and customer deposits | (1,726) | 677 | |
Increase/(decrease) in short-term borrowings | 388 | 3,583 | |
Increase/(decrease) in central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (6,931) | (3,932) | |
Issuances of long-term debt | 31,947 | 24,155 | |
Repayments of long-term debt | (29,245) | (27,321) | |
Dividends paid/capital repayments | (571) | (11) | |
Other, net | (488) | 168 | |
Net cash provided by/(used in) financing activities | (6,626) | (2,681) | |
Effect of exchange rate changes on cash and due from banks | |||
Effect of exchange rate changes on cash and due from banks | 35 | 1,821 | |
Net increase/(decrease) in cash and due from banks | |||
Net increase/(decrease) in cash and due from banks | (5,326) | 7,160 | |
Cash and due from banks at beginning of period | [2] | 164,026 | 138,207 |
Cash and due from banks at end of period | [2] | 158,700 | 145,367 |
Cash paid for income taxes and interest | |||
Cash paid for income taxes | 479 | 417 | |
Cash paid for interest | SFr 2,916 | SFr 3,150 | |
[1]Includes restricted cash.[2]Includes restricted cash. |
Summary of significant accounti
Summary of significant accounting policies | 6 Months Ended |
Jun. 30, 2022 | |
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, 2021 included in the Credit Suisse Annual Report 2021. 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, which, on a normal recurring basis, are necessary for a fair presentation of the condensed consolidated financial statements for the periods presented. The 1Q22 consolidated statements of operations and comprehensive income and the 1Q22 consolidated statement of changes in equity have been added for the convenience of the reader and are not a required presentation under US GAAP. The results of operations for interim periods are not indicative of results for the entire year. In preparing these condensed consolidated financial statements, management is required to make estimates and assumptions which affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the condensed consolidated balance sheets and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Certain accounting changes As noted in our 2021 Annual Report, the Group identified an accounting issue that was not material to the prior period financial statements. The Group identified this accounting issue with respect to the net balance sheet treatment relating to the presentation of a limited population of certain securities lending and borrowing activities. As a result, balance sheet and cash flow positions for both assets and liabilities relating to these activities were presented on a gross basis and prior periods were revised in the consolidated financial statements and the related notes. For the quarter ended June 30, 2022, the Group has presented these securities lending and borrowing transactions as a single unit of account and as a result these transactions will no longer be presented on a gross basis. The Group did not adjust prior period financial information which continue to reflect a presentation on a gross basis. > Refer to “Note 1 – Summary of significant accounting policies” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2021 for a description of the Group’s significant accounting policies. |
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, 2021, included in the Credit Suisse Group AG & Credit Suisse AG Annual Report 2021 (Credit Suisse Annual Report 2021). In addition, these condensed consolidated financial statements make references to the Group’s condensed consolidated financial statements in its 2Q22 and 1Q22 Financial Reports and the Group’s consolidated financial statements in the Credit Suisse Annual Report 2021. > Refer to “Note 1 – Summary of significant accounting policies” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2021 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. Certain accounting changes As noted in the 2021 Annual Report, the Bank identified an accounting issue that was not material to the prior period financial statements. The Bank identified this accounting issue with respect to the net balance sheet treatment relating to the presentation of a limited population of certain securities lending and borrowing activities. As a result, balance sheet and cash flow positions for both assets and liabilities relating to these activities were presented on a gross basis and prior periods were revised in the consolidated financial statements and the related notes. For the half-year ended June 30, 2022, the Bank has presented these securities lending and borrowing transactions as a single unit of account and as a result these transactions will no longer be presented on a gross basis. The Bank did not adjust prior period financial information which continue to reflect a presentation on a gross basis. |
Recently issued accounting stan
Recently issued accounting standards | 6 Months Ended |
Jun. 30, 2022 | |
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 2021 for a description of accounting standards adopted in 2021. SAB 121 – Accounting for Digital Asset Custodial Relationships In March 2022, the US Securities and Exchange Commission (SEC) published SEC Staff Accounting Bulletin (SAB) No. 121, “Accounting for Obligations to Safeguard Crypto-Assets an Entity Holds for Platform users” (SAB 121). SAB 121 introduces interpretive guidance requiring the recognition of a liability and a corresponding asset to account for obligations to safeguard digital assets held for clients. SAB 121 requires additional disclosure of such custodial relationships in the interim and annual financial statements. The guidance within SAB 121 is effective for the interim and annual periods ending after June 15, 2022, with retrospective application to the beginning of the fiscal year. The adoption of SAB 121 did not have a material impact on the Group’s financial position, results of operations or cash flows. Standards to be adopted in future periods ASC Topic 326 – Financial instruments – Credit losses In March 2022, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2022-02, “Troubled Debt Restructurings and Vintage Disclosures” (ASU 2022-02), an update to Accounting Standards Codification (ASC) Topic 326 – Financial Instruments – Credit Losses. The amendments in ASU 2022-02 eliminate the accounting guidance for Troubled Debt Restructurings (TDRs) by creditors. The loan refinancing and restructuring guidance in ASC Topic 310 – Receivables will be applied to determine whether a modification results in a new loan or a continuation of an existing loan. The amendments enhance disclosure requirements for certain loan refinancings and restructurings when a borrower is experiencing financial difficulty and require disclosure of current period gross write-offs by year of origination for financing receivables and net investments in leases. The amendments are effective for annual reporting periods beginning after December 15, 2022 and for the interim periods within those annual reporting periods. Early adoption is permitted, including in an interim period. The Group is currently evaluating the impact of the adoption of ASU 2022-02 on the Group’s financial position, results of operations and cash flows. ASC Topic 820 – Fair Value Measurement In June 2022, the FASB issued Accounting Standards Update 2022-03, “Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions” (ASU 2022-03), an update to ASC Topic 820 – Fair Value Measurement. The amendments in ASU 2022-03 clarify that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. The amendments clarify that an entity cannot, as a separate unit of account, recognize and measure a contractual sale restriction. The amendments require new disclosures related to equity securities subject to contractual sale restrictions, including the fair value of such equity securities, the nature and remaining duration of the corresponding restrictions and any circumstances that could cause a lapse in the restrictions. The amendments are effective for annual reporting periods beginning after December 15, 2023 and for the interim periods within those annual reporting periods. Early adoption is permitted, including in an interim period. The Group is currently evaluating the impact of the adoption of ASU 2022-03 on the Group’s financial position, results of operations and cash flows. |
Bank | |
Recently issued accounting standards | 2 Recently issued accounting standards > Refer to “Note 2 – Recently issued accounting standards” in III – Condensed consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q22 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, 2022 | |
Business developments | 3 Business developments and subsequent events Business developments There were no significant business developments in 2Q22 that are not disclosed in other notes of these condensed consolidated financial statements. Subsequent events Management changes On July 27, 2022, Credit Suisse announced that the Board of Directors has appointed Ulrich Körner as the new CEO of the Group. He will take over this position from Thomas Gottstein, who will step down from August 1, 2022. Ulrich Körner is currently CEO of the Asset Management division of the Group. Strategic review On July 27, 2022, Credit Suisse announced that it is conducting a comprehensive strategic review with the following objectives: ■ ■ ■ ■ ■ The development and implementation of the new strategy will be overseen by the full Board of Directors and supported by a Board led ad-hoc Investment Bank Strategy Committee, with Michael Klein as Chair and also including Mirko Bianchi, Richard Meddings and Blythe Masters. The Group will provide further details on the progress of the strategic review, including specific performance goals, with its third-quarter 2022 results. As the strategy review and eventual implementation progresses, restructuring costs relating to asset impairments and liability valuations may arise in connection with any business activities the Group may exit or curtail and their related infrastructure. |
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 2Q22 for further information. |
Segment information
Segment information | 6 Months Ended |
Jun. 30, 2022 | |
Segment information | 4 Segment information The Group is a global financial services company domiciled in Switzerland and, effective January 1, 2022, was organized into four divisions – Wealth Management, Investment Bank, Swiss Bank and Asset Management, reflecting the strategic announcement made on November 4, 2021. The segment information reflects the Group’s reportable segments and the Corporate Center, which are managed and reported on a pre-tax basis, as follows: ■ Wealth Management ■ Investment Bank ■ Swiss Bank ■ Asset Management Corporate Center included parent company operations such as Group financing, expenses for projects sponsored by the Group and certain expenses and revenues that had not been allocated to the segments. In addition, the Corporate Center included consolidation and elimination adjustments required to eliminate intercompany revenues and expenses. > Refer to “Note 4 – Segment information” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2021 for further information on revenue sharing and cost allocation and funding. Net revenues and income/(loss) before taxes in 2Q22 1Q22 2Q21 6M22 6M21 Net revenues (CHF million) Wealth Management 1,266 1,177 1,913 2,443 3,998 Investment Bank 1,109 1,938 1,844 3,047 5,728 Swiss Bank 1,050 1,109 1,023 2,159 2,054 Asset Management 311 361 417 672 817 Corporate Center (91) (173) (94) (264) 80 Net revenues 3,645 4,412 5,103 8,057 12,677 Income/(loss) before taxes (CHF million) Wealth Management (96) (357) 770 (453) 1,748 Investment Bank (1,116) 124 (16) (992) (2,326) Swiss Bank 402 471 445 873 857 Asset Management 30 53 120 83 251 Corporate Center (393) (719) (506) (1,112) (474) Income/(loss) before taxes (1,173) (428) 813 (1,601) 56 Total assets end of 2Q22 1Q22 4Q21 Total assets (CHF million) Wealth Management 205,387 204,256 201,326 Investment Bank 254,561 253,958 274,112 Swiss Bank 219,151 222,152 221,478 Asset Management 3,785 3,659 3,603 Corporate Center 44,481 55,529 55,314 Total assets 727,365 739,554 755,833 |
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 2Q22 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 6M22 6M21 Net revenues (CHF million) Wealth Management 2,443 3,998 Investment Bank 3,047 5,728 Swiss Bank 2,159 2,054 Asset Management 672 817 Adjustments 1 (191) 285 Net revenues 8,130 12,882 Income/(loss) before taxes (CHF million) Wealth Management (453) 1,748 Investment Bank (992) (2,326) Swiss Bank 873 857 Asset Management 83 251 Adjustments 1 (1,265) (515) Income/(loss) before taxes (1,754) 15 1 Adjustments represent certain consolidating entries and balances, including those relating to items that are managed but are not legally owned by the Bank and vice versa, and certain revenues and expenses that were not allocated to the segments, including such items relating to the Asset Resolution Unit. Total assets end of 6M22 2021 Total assets (CHF million) Wealth Management 205,387 201,326 Investment Bank 254,561 274,112 Swiss Bank 219,151 221,478 Asset Management 3,785 3,603 Adjustments 1 47,411 58,695 Total assets 730,295 759,214 1 Adjustments represent certain consolidating entries and balances, including those relating to items that are managed but are not legally owned by the Bank and vice versa, and certain revenues and expenses that were not allocated to the segments, including such items relating to the Asset Resolution Unit. |
Net interest income
Net interest income | 6 Months Ended |
Jun. 30, 2022 | |
Net interest income | 5 Net interest income in 2Q22 1Q22 2Q21 6M22 6M21 Net interest income (CHF million) Loans 1,307 1,194 1,277 2,501 2,542 Investment securities (12) 0 0 (12) 0 Trading assets, net of trading liabilities 1 561 702 656 1,263 1,502 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 386 233 311 619 652 Other 232 105 182 337 317 Interest and dividend income 2,474 2,234 2,426 4,708 5,013 Deposits (278) (54) (38) (332) (89) Short-term borrowings (16) (8) (40) (24) (42) Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions (140) (100) (209) (240) (485) Long-term debt (727) (536) (660) (1,263) (1,203) Other (118) (77) (63) (195) (124) Interest expense (1,279) (775) (1,010) (2,054) (1,943) Net interest income 1,195 1,459 1,416 2,654 3,070 1 Interest and dividend income is presented on a net basis to align with the presentation of trading revenues for trading assets and liabilities. |
Bank | |
Net interest income | 5 Net interest income in 6M22 6M21 Net interest income (CHF million) Loans 2,479 2,514 Investment securities (12) 0 Trading assets, net of trading liabilities 1 1,264 1,503 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 619 652 Other 335 318 Interest and dividend income 4,685 4,987 Deposits (330) (84) Short-term borrowings (28) 1 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions (240) (485) Long-term debt (1,205) (1,182) Other (197) (124) Interest expense (2,000) (1,874) Net interest income 2,685 3,113 1 Interest and dividend income is presented on a net basis to align with the presentation of trading revenues for trading assets and liabilities. |
Commissions and fees
Commissions and fees | 6 Months Ended |
Jun. 30, 2022 | |
Commissions and fees | 6 Commissions and fees in 2Q22 1Q22 2Q21 6M22 6M21 Commissions and fees (CHF million) Lending business 360 435 484 795 1,000 Investment and portfolio management 780 828 891 1,608 1,752 Other securities business 16 13 15 29 28 Fiduciary business 796 841 906 1,637 1,780 Underwriting 125 239 626 364 1,615 Brokerage 587 690 694 1,277 1,603 Underwriting and brokerage 712 929 1,320 1,641 3,218 Other services 362 396 448 758 897 Commissions and fees 2,230 2,601 3,158 4,831 6,895 |
Bank | |
Commissions and fees | 6 Commissions and fees in 6M22 6M21 Commissions and fees (CHF million) Lending business 791 997 Investment and portfolio management 1,578 1,699 Other securities business 29 29 Fiduciary business 1,607 1,728 Underwriting 370 1,664 Brokerage 1,277 1,624 Underwriting and brokerage 1,647 3,288 Other services 761 913 Commissions and fees 4,806 6,926 |
Trading revenues
Trading revenues | 6 Months Ended |
Jun. 30, 2022 | |
Trading revenues | 7 Trading revenues in 2Q22 1Q22 2Q21 6M22 6M21 Trading revenues (CHF million) Interest rate products (1,084) (365) 154 (1,449) 906 Foreign exchange products 241 329 358 570 506 Equity/index-related products 425 84 (117) 509 884 Credit products 822 8 (271) 830 (304) Commodity and energy products (17) 59 (7) 42 2 Other products (346) (151) 36 (497) (30) Trading revenues 41 (36) 153 5 1,964 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 2021 for further information on trading revenues and managing trading risks. |
Bank | |
Trading revenues | 7 Trading revenues in 6M22 6M21 Trading revenues (CHF million) Interest rate products (1,445) 893 Foreign exchange products 568 497 Equity/index-related products 456 868 Credit products 830 (304) Commodity and energy products 42 2 Other products (497) (32) Trading revenues (46) 1,924 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, 2022 | |
Other revenues | 8 Other revenues in 2Q22 1Q22 2Q21 6M22 6M21 Other revenues (CHF million) Noncontrolling interests without SEI 0 0 4 0 3 Loans held-for-sale (14) (2) (58) (16) (99) Long-lived assets held-for-sale 16 165 3 181 1 Equity method investments 53 43 55 96 84 Other investments (63) 15 131 (48) 330 Other 187 167 241 354 429 Other revenues 179 388 376 567 748 |
Bank | |
Other revenues | 8 Other revenues in 6M22 6M21 Other revenues (CHF million) Loans held-for-sale (16) (99) Long-lived assets held-for-sale 181 1 Equity method investments 96 84 Other investments (48) 332 Other 472 601 Other revenues 685 919 |
Provision for credit losses
Provision for credit losses | 6 Months Ended |
Jun. 30, 2022 | |
Provision for credit losses | 9 Provision for credit losses in 2Q22 1Q22 2Q21 6M22 6M21 Provision for credit losses (CHF million) Loans held at amortized cost 73 41 (28) 114 (52) Other financial assets held at amortized cost 1 2 (148) 56 (146) 4,490 Off-balance sheet credit exposures (11) (3) (53) (14) (69) Provision for credit losses 64 (110) (25) (46) 4,369 1 Primarily reflects a provision/(release of provision) for credit losses of CHF 0 million, CHF (155) (155) |
Bank | |
Provision for credit losses | 9 Provision for credit losses in 6M22 6M21 Provision for credit losses (CHF million) Loans held at amortized cost 114 (52) Other financial assets held at amortized cost 1 (147) 4,494 Off-balance sheet credit exposures (14) (69) Provision for credit losses (47) 4,373 1 Primarily reflects a provision/(release of provision) for credit losses of CHF (155) 6M22 6M21 |
Compensation and benefits
Compensation and benefits | 6 Months Ended |
Jun. 30, 2022 | |
Compensation and benefits | 10 Compensation and benefits in 2Q22 1Q22 2Q21 6M22 6M21 Compensation and benefits (CHF million) Salaries and variable compensation 1,982 2,030 1,997 4,012 3,846 Social security 173 204 166 377 324 Other 1 237 224 193 461 393 Compensation and benefits 2,392 2,458 2,356 4,850 4,563 1 Includes pension-related expenses of CHF 131 million, CHF 128 million, CHF 120 million, CHF 259 million and CHF 250 million in 2Q22 1Q22 2Q21 6M22 6M21 |
Bank | |
Compensation and benefits | 10 Compensation and benefits in 6M22 6M21 Compensation and benefits (CHF million) Salaries and variable compensation 3,518 3,449 Social security 323 278 Other 1 400 369 Compensation and benefits 4,241 4,096 1 Includes pension-related expenses of CHF 230 million and CHF 250 million in 6M22 and 6M21, 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, 2022 | |
General and administrative expenses | 11 General and administrative expenses in 2Q22 1Q22 2Q21 6M22 6M21 General and administrative expenses (CHF million) Occupancy expenses 247 237 231 484 494 IT, machinery and equipment 462 407 383 869 756 Provisions and losses 499 710 273 1,209 330 Travel and entertainment 61 44 32 105 61 Professional services 532 521 454 1,053 827 Communication and market data services 136 131 128 267 255 Amortization and impairment of other intangible assets 1 1 2 2 4 Other 1 67 97 86 164 238 General and administrative expenses 2,005 2,148 1,589 4,153 2,965 1 Includes pension-related expenses/(credits) of CHF (49) (49) (42) (98) (94) 2Q22 1Q22 2Q21 6M22 6M21 |
Bank | |
General and administrative expenses | 11 General and administrative expenses in 6M22 6M21 General and administrative expenses (CHF million) Occupancy expenses 441 449 IT, machinery and equipment 697 597 Provisions and losses 1,205 330 Travel and entertainment 92 52 Professional services 1,980 1,609 Communication and market data services 236 226 Amortization and impairment of other intangible assets 2 4 Other 1 342 397 General and administrative expenses 4,995 3,664 1 Includes pension-related expenses/(credits) of CHF 3 million and CHF (10) |
Restructuring expenses
Restructuring expenses | 6 Months Ended |
Jun. 30, 2022 | |
Restructuring, Impairment, and Other Activities Disclosure [Text Block] | 12 Restructuring expenses On November 4, 2021, Credit Suisse announced its new long-term strategic vision. This led to restructuring expenses of CHF 80 million, CHF 46 million, CHF 45 million, CHF 126 million and CHF 70 million in 2Q22, 1Q22, 2Q21, 6M22 and 6M21, respectively. The Group expects to complete the new plan by the end of December 2022. Restructuring expenses may include severance expenses, other personnel-related charges, pension expenses and contract termination costs. Restructuring expenses by type in 2Q22 1Q22 2Q21 6M22 6M21 Restructuring expenses by type (CHF million) Compensation and benefits-related expenses 65 42 2 107 13 of which severance expenses 15 13 (1) 28 6 of which deferred compensation 46 25 3 71 7 General and administrative-related expenses 15 4 43 19 57 of which pension expenses 4 0 (4) 4 (11) Total restructuring expenses 80 46 45 126 70 Restructuring liabilities 2Q22 1Q22 2Q21 Compen- General and Compen- General and Compen- General and Restructuring liabilities (CHF million) Balance at beginning of period 25 0 25 19 0 19 39 3 42 Net additional charges 1 15 10 25 13 4 17 (1) 26 25 Utilization (10) (10) (20) (7) (4) (11) (16) (26) (42) Balance at end of period 30 0 30 25 0 25 22 3 25 1 The following items for which expense accretion was accelerated in 2Q22, 1Q22 and 2Q21 due to the restructuring of the Group are not included in the restructuring provision: unsettled share-based compensation of CHF 22 million, CHF 8 million and CHF 1 million, respectively, which remain classified as a component of total shareholders' equity; other personnel-related charges of CHF 28 million, CHF 21 million and CHF 2 million, respectively, which remain classified as compensation liabilities; unsettled pension obligations of CHF 4 million, CHF 0 million and CHF (4) Restructuring liabilities (continued) 6M22 6M21 Compen- General and Compen- General and Restructuring liabilities (CHF million) Balance at beginning of period 19 0 19 50 2 52 Net additional charges 1 28 14 42 6 36 42 Utilization (17) (14) (31) (34) (35) (69) Balance at end of period 30 0 30 22 3 25 1 The following items for which expense accretion was accelerated in 6M22 and 6M21 due to the restructuring of the Group are not included in the restructuring liabilities: unsettled share-based compensation of CHF 30 million and CHF 2 million, respectively, which remain classified as a component of total shareholders' equity; other personnel-related charges of CHF 49 million and CHF 5 million, respectively, which remain classified as compensation liabilities; unsettled pension obligations of CHF 4 million and CHF (11) |
Bank | |
Restructuring, Impairment, and Other Activities Disclosure [Text Block] | 12 Restructuring expenses On November 4, 2021, Credit Suisse announced its new long-term strategic vision. This led to restructuring expenses of CHF 120 million 6M22 compared to CHF 80 million in 6M21. The Bank expects to complete the new plan by the end of December 2022. Restructuring expenses may include severance expenses, other personnel-related charges, pension expenses and contract termination costs. Restructuring expenses by type in 6M22 6M21 Restructuring expenses by type (CHF million) Compensation and benefits-related expenses 105 14 of which severance expenses 27 7 of which accelerated deferred compensation 70 7 General and administrative-related expenses 15 66 of which pension expenses 1 4 Total restructuring expenses 120 80 Restructuring liabilities 6M22 6M21 Compen- General and Compen- General and Restructuring liabilities (CHF million) Balance at beginning of period 19 0 19 47 2 49 Net additional charges 1 27 13 40 7 30 37 Utilization (17) (13) (30) (32) (29) (61) Balance at end of period 29 0 29 22 3 25 1 The following items for which expense accretion was accelerated in 6M22 and 6M21 due to the restructuring of the Bank are not included in the restructuring provision: unsettled share-based compensation of CHF 30 million and CHF 2 million, respectively, which remain classified as a compenent of total shareholders's equity; other personnel-related charges of CHF 48 million and CHF 5 million, respectively, which remain classified as compensation liabilities; unsettled pension obligations of CHF 1 million and CHF 4 million, which remain classified as pension liabilities; and accelerated accumulated depreciation and impairment of CHF 1 million and CHF 32 million, respectively, which remain classified as premises and equipment. The settlement date for the unsettled share-based compensation remains unchanged at three years. |
Earnings per share
Earnings per share | 6 Months Ended |
Jun. 30, 2022 | |
Earnings per share | 13 Earnings per share in 2Q22 1Q22 2Q21 6M22 6M21 Basic net income/(loss) attributable to shareholders (CHF million) Net income/(loss) attributable to shareholders for basic earnings per share (1,593) (273) 253 (1,866) 1 Available for common shares (1,593) (273) 252 (1,866) 1 Available for mandatory convertible notes – – 1 – – Net income/(loss) attributable to shareholders for diluted earnings per share (1,593) (273) 253 (1,866) 1 Available for common shares (1,593) (273) 252 (1,866) 1 Available for mandatory convertible notes – – 1 – – Weighted-average shares outstanding (million) For basic earnings per share available for common shares 2,646.5 2,617.9 2,453.9 2,632.2 2,450.3 Dilutive share options and warrants 0.0 0.0 0.8 0.0 0.6 Dilutive share awards 0.0 0.0 55.1 0.0 73.6 For diluted earnings per share available for common shares 1, 2 2,646.5 2,617.9 2,509.8 2,632.2 2,524.5 Weighted-average shares outstanding for basic/diluted earnings per share available for mandatory convertible notes – – 130.8 – 65.4 Earnings/(loss) per share available for common shares (CHF) Basic earnings/(loss) per share available for common shares (0.60) (0.10) 0.10 (0.71) 0.00 Diluted earnings/(loss) per share available for common shares (0.60) (0.10) 0.10 (0.71) 0.00 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 12.4 million, 14.5 million, 9.6 million, 13.4 million and 8.1 million for 2Q22 1Q22 2Q21 6M22 6M21 2 Due to the net losses in 2Q22 1Q22 6M22 |
Revenue from contracts with cus
Revenue from contracts with customers | 6 Months Ended |
Jun. 30, 2022 | |
Revenue from Contract with Customer [Text Block] | 14 Revenue from contracts with customers The Group receives investment advisory and investment management fees for services provided in its wealth management businesses which are generally reflected in the line item ‘Investment and portfolio management’ in the table “Contracts with customers and disaggregation of revenues”. As a fund manager, the Group typically receives base management fees and may additionally receive performance-based management fees which are both recognized as ‘Investment and portfolio management’ revenues in the table “Contracts with customers and disaggregation of revenues”. The Group’s capital markets businesses underwrite and sell securities on behalf of customers and receive underwriting fees. The Group also offers brokerage services in its investment banking businesses, including global securities sales, trading and execution, prime brokerage and investment research. For the services provided, such as for example the execution of client trades in securities or derivatives, the Group typically earns a brokerage commission when the trade is executed. Credit Suisse’s investment banking businesses provide services that include advisory services to clients in connection with corporate finance activities. The term ‘advisory’ includes any type of service the Group provides in an advisory capacity. Revenues recognized from these services are reflected in the line item ‘Other Services’ in the table below. Contracts with customers and disaggregation of revenues in 2Q22 1Q22 2Q21 6M22 6M21 Contracts with customers (CHF million) Investment and portfolio management 780 828 891 1,608 1,752 Other securities business 16 13 15 29 28 Underwriting 125 239 626 364 1,615 Brokerage 586 690 693 1,276 1,601 Other services 359 394 445 753 893 Total revenues from contracts with customers 1,866 2,164 2,670 4,030 5,889 The table “Contracts with customers and disaggregation of revenues” differs from “Note 6 – Commissions and fees” as it includes only those contracts with customers that are in scope of ASC Topic 606 – Revenue from Contracts with Customers. Contract balances end of 2Q22 1Q22 4Q21 Contract balances (CHF million) Contract receivables 769 777 865 Contract liabilities 59 58 55 Revenue recognized in the reporting period included in the contract liabilities balance at the beginning of period 10 14 9 The Group did not recognize any revenue in the reporting period from performance obligations satisfied in previous periods. There were no material net impairment losses on contract receivables in 2Q22, 1Q22 and 4Q21. The Group’s contract terms are generally such that they do not result in any contract assets. Remaining performance obligations ASC Topic 606’s practical expedient allows the Group to exclude from its remaining performance obligations disclosure any performance obligations which are part of a contract with an original expected duration of one year or less. Additionally any variable consideration, for which it is probable that a significant reversal in the amount of cumulative revenue recognized will occur when the uncertainty associated with the variable consideration is subsequently resolved, is not subject to the remaining performance obligations disclosure because such variable consideration is not included in the transaction price (e.g., investment management fees). Upon review, the Group determined that no material remaining performance obligations are in scope of the remaining performance obligations disclosure. > Refer to “Note 14 – Revenue from contracts with customers” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2021 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 2Q22 for further information. Contracts with customers and disaggregation of revenues in 6M22 6M21 Contracts with customers (CHF million) Investment and portfolio management 1,578 1,699 Other securities business 29 29 Underwriting 370 1,664 Brokerage 1,277 1,623 Other services 786 937 Total revenues from contracts with customers 4,040 5,952 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 2Q22 1Q22 4Q21 Contract balances (CHF million) Contract receivables 802 792 865 Contract liabilities 59 58 55 Revenue recognized in the reporting period included in the contract liabilities balance at the beginning of period 10 14 9 There were no material net impairment losses on contract receivables in 6M22 and 6M21. The Bank’s contract terms are generally such that they do not result in any contract assets. The Bank did not recognize any revenues in the reporting period from performance obligations satisfied in previous periods. Remaining performance obligations ASC Topic 606’s practical expedient allows the Bank to exclude from its remaining performance obligations disclosure any performance obligations which are part of a contract with an original expected duration of one year or less. Additionally any variable consideration, for which it is probable that a significant reversal in the amount of cumulative revenue recognized will occur when the uncertainty associated with the variable consideration is subsequently resolved, is not subject to the remaining performance obligations disclosure because such variable consideration is not included in the transaction price (e.g., investment management fees). The Bank determined that no material remaining performance obligations are in scope of the remaining performance obligations disclosure. > Refer to “Note 13 – Revenue from contracts with customers” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2021 for further information. |
Trading assets and liabilities
Trading assets and liabilities | 6 Months Ended |
Jun. 30, 2022 | |
Trading assets and liabilities | 15 Trading assets and liabilities end of 2Q22 1Q22 4Q21 Trading assets (CHF million) Debt securities 57,030 52,565 54,198 Equity securities 24,711 34,097 36,546 Derivative instruments 1 16,069 16,810 17,559 Other 3,285 3,499 2,838 Trading assets 101,095 106,971 111,141 Trading liabilities (CHF million) Short positions 14,015 15,818 16,689 Derivative instruments 1 15,952 12,366 10,846 Trading liabilities 29,967 28,184 27,535 1 Amounts shown after counterparty and cash collateral netting. Cash collateral on derivative instruments end of 2Q22 1Q22 4Q21 Cash collateral on derivatives instruments – netted (CHF million) 1 Cash collateral paid 13,707 14,881 17,869 Cash collateral received 10,522 10,027 12,056 Cash collateral on derivatives instruments– not netted (CHF million) 2 Cash collateral paid 9,674 9,262 7,659 Cash collateral received 5,065 5,016 5,533 1 Recorded as cash collateral netting on derivative instruments in Note 24 – Offsetting of financial assets and financial liabilities. 2 Recorded as cash collateral on derivative instruments in Note 21 – Other assets and other liabilities. |
Bank | |
Trading assets and liabilities | 14 Trading assets and liabilities end of 6M22 2021 Trading assets (CHF million) Debt securities 57,130 54,297 Equity securities 24,748 36,606 Derivative instruments 1 16,069 17,559 Other 3,285 2,837 Trading assets 101,232 111,299 Trading liabilities (CHF million) Short positions 14,015 16,693 Derivative instruments 1 15,952 10,846 Trading liabilities 29,967 27,539 1 Amounts shown after counterparty and cash collateral netting. Cash collateral on derivative instruments end of 6M22 2021 Cash collateral on derivative instruments – netted (CHF million) 1 Cash collateral paid 13,707 17,869 Cash collateral received 11,102 12,056 Cash collateral on derivative instruments – not netted (CHF million) 2 Cash collateral paid 9,674 7,659 Cash collateral received 5,102 5,533 1 Recorded as cash collateral netting on derivative instruments in Note 23 – Offsetting of financial assets and financial liabilities. 2 Recorded as cash collateral on derivative instruments in Note 20 – Other assets and other liabilities. |
Investment securities
Investment securities | 6 Months Ended |
Jun. 30, 2022 | |
Investment securities | 16 Investment securities end of 2Q22 1Q22 4Q21 Investment securities (CHF million) Debt securities available-for-sale 739 809 1,005 Total investment securities 739 809 1,005 Investment securities by type 2Q22 4Q21 Gross Gross Gross Gross Investment securities by type (CHF million) Swiss federal, cantonal or local government entities 2 0 0 2 2 0 0 2 Corporate debt securities 849 0 112 737 1,011 0 8 1,003 Debt securities available-for-sale 851 0 112 739 1,013 0 8 1,005 Gross unrealized losses on debt securities and related fair value Less than 12 months 12 months or more Total Gross Gross Gross 2Q22 (CHF million) Corporate debt securities 625 100 89 12 714 112 Debt securities available-for-sale 625 100 89 12 714 112 4Q21 (CHF million) Corporate debt securities 683 8 0 0 683 8 Debt securities available-for-sale 683 8 0 0 683 8 Unrealized losses on debt securities as of the end of 2Q22 relate to ten high-quality debt security positions held for liquidity purposes. Management determined that the unrealized losses on these debt securities were attributable to changes in market valuation driven by interest rate movements and not to credit-related factors. No impairment charges were recorded as the Group does not intend to sell these investments nor is it more likely than not that the Group will be required to sell these securities before the recovery of their amortized cost basis, which may be at maturity. Proceeds from sales, realized gains and realized losses from debt securities available-for-sale in 6M22 6M21 Sales of debt securities available-for-sale (CHF million) Proceeds from sales 45 0 Realized losses (6) 0 Amortized cost, fair value and average yield of debt securities Average 2Q22 (CHF million, except where indicated) Due within 1 year 25 25 0.67 Due from 1 to 5 years 90 83 (0.02) Due from 5 to 10 years 736 631 0.05 Debt securities available-for-sale 851 739 0.06 Allowance for credit losses on debt securities available-for-sale A credit loss exists if there is a decline in fair value of the security below the amortized cost as a result of the non-collectability of the amounts due in accordance with the contractual terms. An allowance for expected credit losses is recorded in the consolidated statement of operations in provision for credit losses and the non-credit-related losses are recorded in accumulated other comprehensive income (AOCI). Subsequent improvements in the estimated credit losses are immediately recorded in the consolidated statement of operations as a reduction in allowance and credit loss expense. A security is written-off if it is considered certain that there is no possibility of recovering the outstanding principal. As of the end of 2Q22 and 4Q21, the Group had no allowance for credit losses on debt securities available-for-sale. |
Bank | |
Investment securities (old to delete) | 15 Investment securities end of 6M22 2021 Investment securities (CHF million) Debt securities available-for-sale 737 1,003 Total investment securities 737 1,003 Investment securities by type 6M22 2021 Gross Gross Gross Gross Investment securities by type (CHF million) Corporate debt securities 849 0 112 737 1,011 0 8 1,003 Debt securities available-for-sale 849 0 112 737 1,011 0 8 1,003 Gross unrealized losses on debt securities and related fair value Less than 12 months 12 months or more Total Gross Gross Gross 6M22 (CHF million) Corporate debt securities 625 100 89 12 714 112 Debt securities available-for-sale 625 100 89 12 714 112 2021 (CHF million) Corporate debt securities 683 8 0 0 683 8 Debt securities available-for-sale 683 8 0 0 683 8 Proceeds from sales, realized gains and realized losses from debt securities available-for-sale in 6M22 6M21 Sales of debt securities available-for-sale (CHF million) Proceeds from sales 45 0 Realized losses (6) 0 Amortized cost, fair value and average yield of debt securities Average Due within 1 year 23 23 0.43 Due from 1 to 5 years 90 83 (0.02) Due from 5 to 10 years 736 631 0.05 Debt securities available-for-sale 849 737 0.05 Allowance for credit losses on debt securities available-for-sale > Refer to “Note 16 – Investment securities” in III – Condensed consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q22 for further information on allowance for credit losses on debt securities available for sale. As of the end of 6M22 and 6M21, the Bank had no allowance for credit losses on debt securities available-for-sale. |
Other investments
Other investments | 6 Months Ended |
Jun. 30, 2022 | |
Other investments | 17 Other investments end of 2Q22 1Q22 4Q21 Other investments (CHF million) Equity method investments 1,660 1,657 1,644 Equity securities (without a readily determinable fair value) 1 3,351 3,343 3,317 of which at net asset value 71 66 54 of which at measurement alternative 342 346 347 of which at fair value 2,890 2,884 2,869 of which at cost less impairment 48 47 47 Real estate held-for-investment 2 87 75 76 Life finance instruments 3 685 719 789 Total other investments 5,783 5,794 5,826 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 2Q22 1Q22 4Q21 3 Includes single premium immediate annuity contracts. Accumulated depreciation related to real estate held-for-investment amounted to CHF 28 million, CHF 32 million and CHF 32 million for 2Q22, 1Q22 and 4Q21, respectively. No impairments were recorded on real estate held-for-investments in 2Q22, 1Q22 and 4Q21. Equity securities at measurement alternative in / end of 6M22 Cumulative 6M21 Impairments and adjustments (CHF million) Impairments and downward adjustments (4) (47) (5) Upward adjustments 0 138 0 > Refer to “Note 31 – Financial instruments” for further information on equity securities without a readily determinable fair value. |
Bank | |
Other investments | 16 Other investments > Refer to “Note 17 – Other investments” in III – Condensed consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q22 for further information. end of 6M22 2021 Other investments (CHF million) Equity method investments 1,652 1,636 Equity securities (without a readily determinable fair value) 1 3,349 3,315 of which at net asset value 70 53 of which at measurement alternative 340 345 of which at fair value 2,891 2,869 of which at cost less impairment 48 48 Real estate held-for-investment 2 47 48 Life finance instruments 3 685 789 Total other investments 5,733 5,788 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 6M22 and 2021, real estate held for investment included foreclosed or repossessed real estate of CHF 21 million and CHF 9 million, respectively, of which CHF 21 million and CHF 6 million, respectively, were related to residential real estate. 3 Includes single premium immediate annuity contracts. Equity securities at measurement alternative – impairments and adjustments in / end of 6M22 Cumulative 6M21 Impairments and adjustments (CHF million) Impairments and downward adjustments (4) (47) (5) Upward adjustments 0 138 0 > Refer to “Note 30 – Financial instruments” for further information on equity securities without a readily determinable fair value. Accumulated depreciation related to real estate held-for-investment amounted to CHF 24 million and CHF 28 million for 6M22 and 2021, respectively. No impairments were recorded on real estate held-for-investments in 6M22 and 2021. |
Loans, allowance for loan losse
Loans, allowance for loan losses and credit quality | 6 Months Ended |
Jun. 30, 2022 | |
Loans | 18 Loans The Group’s loan portfolio is classified into two portfolio segments, consumer loans and corporate & institutional loans. Consumer loans are disaggregated into the classes of mortgages, loans collateralized by securities and consumer finance. Corporate & institutional loans are disaggregated into the classes of real estate, commercial and industrial loans, financial institutions, and governments and public institutions. For financial reporting purposes, the carrying values of loans and related allowance for credit losses are presented in accordance with US GAAP and are not comparable with the regulatory credit risk exposures presented in our disclosures required under Pillar 3 of the Basel framework. Loans end of 2Q22 1Q22 4Q21 Loans (CHF million) Mortgages 109,483 110,166 110,533 Loans collateralized by securities 45,658 47,828 51,253 Consumer finance 5,419 5,231 5,075 Consumer 160,560 163,225 166,861 Real estate 27,253 28,556 28,529 Commercial and industrial loans 68,769 68,432 69,129 Financial institutions 26,893 25,733 25,222 Governments and public institutions 3,531 3,147 3,323 Corporate & institutional 126,446 125,868 126,203 Gross loans 287,006 289,093 293,064 of which held at amortized cost 277,907 279,548 282,821 of which held at fair value 9,099 9,545 10,243 Net (unearned income)/deferred expenses (73) (81) (81) Allowance for credit losses (1,360) (1,330) (1,297) Net loans 285,573 287,682 291,686 Gross loans by location (CHF million) Switzerland 168,354 169,454 167,957 Foreign 118,652 119,639 125,107 Gross loans 287,006 289,093 293,064 Impaired loan portfolio (CHF million) Non-performing loans 1,649 1,819 1,666 Non-interest-earning loans 345 378 298 Non-accrual loans 1,994 2,197 1,964 Restructured loans 571 384 367 Potential problem loans 516 451 436 Other impaired loans 1,087 835 803 Gross impaired loans 1 3,081 3,032 2,767 1 As of the end of 2Q22, 1Q22 and 4Q21, CHF 152 million, CHF 184 million and CHF 130 million, respectively, were related to consumer mortgages secured by residential real estate for which formal foreclosure proceedings according to local requirements of the applicable jurisdiction were in process. In accordance with Group policies, impaired loans include non-accrual loans, comprised of non-performing loans and non-interest-earning loans, as well as restructured loans and potential problem loans. > Refer to “Loans” in Note 1 – Summary of significant accounting policies in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2021 for further information on loans and categories of impaired loans. > Refer to “Note 19 – Financial instruments measured at amortized cost and credit losses” for further information on loans held at amortized cost. |
Bank | |
Loans | 17 Loans > Refer to “Note 18 – Loans” in III – Condensed consolidated financial statements – Credit Suisse Group in the Credit Suisse Financial Report 2Q22 for further information. Loans end of 6M22 2021 Loans (CHF million) Mortgages 109,483 110,533 Loans collateralized by securities 45,658 51,253 Consumer finance 5,419 5,075 Consumer 160,560 166,861 Real estate 27,253 28,529 Commercial and industrial loans 69,424 69,756 Financial institutions 34,669 33,266 Governments and public institutions 3,531 3,323 Corporate & institutional 134,877 134,874 Gross loans 295,437 301,735 of which held at amortized cost 286,338 291,492 of which held at fair value 9,099 10,243 Net (unearned income)/deferred expenses (73) (81) Allowance for credit losses (1,359) (1,296) Net loans 294,005 300,358 Gross loans by location Switzerland 176,055 175,903 Foreign 119,382 125,832 Gross loans 295,437 301,735 Impaired loans Non-performing loans 1,649 1,666 Non-interest-earning loans 334 286 Non-accrual loans 1,983 1,952 Restructured loans 571 367 Potential problem loans 516 436 Other impaired loans 1,087 803 Gross impaired loans 1 3,070 2,755 1 As of the end of 6M22 > Refer to “Loans” in Note 1 – Summary of significant accounting policies in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2021 for further information on categories of impaired loans. > Refer to “Note 18 – Financial instruments measured at amortized cost and credit losses” for further information on loans held at amortized cost. |
CECL - Financial instruments me
CECL - Financial instruments measured at amortized cost and credit losses | 6 Months Ended |
Jun. 30, 2022 | |
Financial instruments measured at amortized cost and credit losses | 19 Financial instruments measured at amortized cost and credit losses This disclosure provides an overview of the Group’s balance sheet positions that include financial assets carried at amortized cost that are subject to the current expected credit loss (CECL) accounting guidance. As of the end of 2Q22, the Group had no purchased financial assets with more than insignificant credit deterioration since origination. > Refer to “Note 1 – Summary of significant accounting policies” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2021 for further information on the accounting of financial assets and off-balance sheet credit exposure subject to the CECL accounting guidance. Overview of financial instruments measured at amortized cost – by balance sheet position 2Q22 4Q21 1 Allowance Net 1 Allowance Net CHF million Cash and due from banks 159,307 0 159,307 164,510 0 164,510 Interest-bearing deposits with banks 856 (5) 851 1,323 4 0 1,323 Securities purchased under resale agreements and securities borrowing transactions 21,764 2 0 21,764 35,283 4 0 35,283 Loans 277,834 2,3 (1,360) 276,474 282,740 4,5 (1,297) 281,443 Brokerage receivables 19,275 2 (4,215) 15,060 20,873 4 (4,186) 16,687 Other assets 16,375 (31) 16,344 14,175 (30) 14,145 Total 495,411 (5,611) 489,800 518,904 (5,513) 513,391 1 Net of unearned income/deferred expenses, as applicable. 2 Excludes accrued interest in the total amount of CHF 358 million, with no related allowance for credit losses. Of the accrued interest balance, CHF 2 million relates to securities purchased under resale agreements and securities borrowing transactions, CHF 355 million to loans and CHF 1 million to brokerage receivables. These accrued interest balances are reported in other assets. 3 Includes endangered interest of CHF 64 million on non-accrual loans which are reported as part of the loans' amortized cost balance. 4 Excludes accrued interest in the total amount of CHF 301 million, with no related allowance for credit losses. Of the accrued interest balance, CHF 1 million relates to interest-bearing deposits with banks, CHF 1 million to securities purchased under resale agreements and securities borrowing transactions, CHF 295 million to loans and CHF 4 million to brokerage receivables. These accrued interest balances are reported in other assets. 5 Includes endangered interest of CHF 86 million on non-accrual loans which are reported as part of the loans' amortized cost balance. Allowance for credit losses Estimating expected credit losses – overview > Refer to “Note 20 – Financial instruments measured at amortized cost and credit losses” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2021 for further information on key elements and processes of estimating expected credit losses on non-impaired and impaired credit exposures. Macroeconomic scenarios The estimation and application of forward-looking information requires quantitative analysis and significant expert judgment. The Group’s estimation of expected credit losses is based on a discounted probability-weighted estimate that considers three Current-period estimate of expected credit losses on non-impaired credit exposures The key macroeconomic factors (MEFs) used in each of the macroeconomic scenarios for the calculation of the expected credit losses include, but are not limited to, GDP and industrial production. These MEFs have been selected based on the portfolios that are most material to the estimation of expected credit losses on non-impaired credit exposures from a longer-term perspective. The table “Selected macroeconomic factors” includes the Group’s forecast of selected MEFs for 2022 and 2023, as estimated as of the end of 2Q22 and 4Q21. As of the end of 2Q22, the forecast macroeconomic scenarios were weighted 50% 40% 10% the impact of successive COVID-19 infection waves, the impact of accelerated monetary policy tightening by the world’s major central banks in response to high inflation rates, the impact of Russia’s invasion of Ukraine on energy and food prices as well as the recent slowdown in real GDP growth in most of the world’s major economies. While GDP and industrial production are significant inputs to the forecast models, a range of other inputs are also incorporated for all three Selected macroeconomic factors 2Q22 4Q21 Forecast Forecast Forecast Forecast Swiss real GDP growth rate (%) Downside 1.5 0.4 (0.4) 0.3 Baseline 2.5 1.6 2.5 1.9 Upside 2.7 2.2 4.3 2.8 Eurozone real GDP growth rate (%) Downside 1.4 (1.7) (0.7) 1.4 Baseline 2.4 2.0 3.8 2.3 Upside 2.5 2.4 4.2 2.7 US real GDP growth rate (%) Downside 1.4 (0.4) 0.1 1.4 Baseline 2.7 2.3 3.8 1.9 Upside 3.0 2.8 4.5 2.4 UK real GDP growth rate (%) Downside 2.6 (1.7) (0.9) 1.0 Baseline 3.7 0.9 5.0 3.3 Upside 3.9 1.2 7.8 3.9 World industrial production (%) Downside 0.3 0.4 0.0 2.0 Baseline 2.5 2.5 3.0 3.0 Upside 3.6 4.0 4.4 3.7 Forecasts represent the 4-quarter average estimate of the respective macroeconomic factor as determined at the end of each reporting period. For events which cannot be adequately reflected in CECL models due to a lack of historical experience the event may be embedded in the baseline scenario. In order to address circumstances where in management’s judgment the CECL model outputs are overly sensitive to the effect of economic inputs that lie outside of their historical range, model overlays are applied. Such overlays are based on expert judgment and are applied in response to these circumstances to consider historical stressed losses and industry and counterparty credit level reviews. Overlays are also used to capture judgment on the economic uncertainty from global or regional developments or governmental actions with severe impacts on economies, such as the lockdowns and other actions directed towards managing the pandemic. As a result of such overlays, provisions for credit losses may not be primarily derived from MEF projections. The Group’s non-specific allowance for expected credit losses as of the end of 2Q22 was stable compared to the end of 1Q22. Stress overlays incorporated to account for potential losses due to Russia’s invasion of Ukraine were released as specific provisions did not manifest themselves to the extent originally expected. This release was offset by the impact of the more negative general market sentiment observable during the quarter. Overlays continued to be closely aligned with the macroeconomic forecasts and associated scenario weightings. Loans held at amortized cost The Group’s loan portfolio is classified into two portfolio segments, consumer loans and corporate & institutional loans. > Refer to “Note 20 – Financial instruments measured at amortized cost and credit losses” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2021 for further information on the main risk characteristics of the Group’s loans held at amortized cost. Allowance for credit losses – loans held at amortized cost 2Q22 1Q22 2Q21 Corporate & Corporate & Corporate & Allowance for credit losses (CHF million) Balance at beginning of period 369 961 1,330 357 940 1,297 329 1,198 1,527 Current-period provision for expected credit losses 21 59 80 22 33 55 31 (44) (13) of which provisions for interest 1 5 2 7 5 9 14 7 8 15 Gross write-offs (11) (51) (62) (15) (18) (33) (13) (77) (90) Recoveries 1 2 3 3 1 4 2 0 2 Net write-offs (10) (49) (59) (12) (17) (29) (11) (77) (88) Foreign currency translation impact and other adjustments, net 3 6 9 2 5 7 (4) (10) (14) Balance at end of period 383 977 1,360 369 961 1,330 345 1,067 1,412 of which individually evaluated 281 545 826 273 545 818 255 614 869 of which collectively evaluated 102 432 534 96 416 512 90 453 543 6M22 6M21 Corporate & Corporate & Allowance for credit losses (CHF million) Balance at beginning of period 357 940 1,297 318 1,218 1,536 Current-period provision for expected credit losses 43 92 135 43 (79) (36) of which provisions for interest 1 10 11 21 8 8 16 Gross write-offs (26) (69) (95) (27) (101) (128) Recoveries 4 3 7 4 0 4 Net write-offs (22) (66) (88) (23) (101) (124) Foreign currency translation impact and other adjustments, net 5 11 16 7 29 36 Balance at end of period 383 977 1,360 345 1,067 1,412 1 Represents the current-period net provision for accrued interest on non-accrual loans and lease financing transactions which is recognized as a reversal of interest income. Gross write-offs of CHF 62 million in 2Q22 compared to gross write-offs of CHF 33 million in 1Q22. In 2Q22, gross write-offs in corporate & institutional loans mainly reflected the sale of a facility relating to a coal mining company and an exposure to a financial institution impacted by sanctions imposed in connection with Russia’s invasion of Ukraine. In 1Q22, gross write-offs in corporate & institutional loans were mainly related to individual positions in ship finance, small and medium-sized enterprises and other businesses. Write-offs in consumer loans were mainly related to Swiss consumer finance loans both in 2Q22 and 1Q22. Purchases, reclassifications and sales – loans held at amortized cost 2Q22 1Q22 2Q21 Corporate & Corporate & Corporate & Loans held at amortized cost (CHF million) Purchases 1 10 1,159 1,169 6 1,153 1,159 12 981 993 Reclassifications from loans held-for-sale 2 0 95 95 0 0 0 0 0 0 Reclassifications to loans held-for-sale 3 0 608 608 0 872 872 0 1,652 1,652 Sales 3 0 585 585 0 698 698 0 1,633 1,633 Reclassifications from loans held-for-sale and reclassifications to loans held-for-sale represent non-cash transactions. 1 Includes drawdowns under purchased loan commitments. 2 Includes loans previously reclassified to held-for-sale that were not sold and were reclassified back to loans held-to-maturity. 3 All loans held at amortized cost which are sold are reclassified to loans held-for-sale on or prior to the date of the sale. Purchases, reclassifications and sales – loans held at amortized cost (continued) 6M22 6M21 Corporate & Corporate & Loans held at amortized cost (CHF million) Purchases 1 16 2,312 2,328 17 1,969 1,986 Reclassifications from loans held-for-sale 2 0 95 95 0 13 13 Reclassifications to loans held-for-sale 3 0 1,480 1,480 0 2,120 2,120 Sales 3 0 1,283 1,283 0 2,007 2,007 Reclassifications from loans held-for-sale and reclassifications to loans held-for-sale represent non-cash transactions. 1 Includes drawdowns under purchased loan commitments. 2 Includes loans previously reclassified to held-for-sale that were not sold and were reclassified back to loans held-to-maturity. 3 All loans held at amortized cost which are sold are reclassified to loans held-for-sale on or prior to the date of the sale. Other financial assets The Group’s other financial assets include certain balance sheet positions held at amortized cost, each representing its own portfolio segment. > Refer to “Note 20 – Financial instruments measured at amortized cost and credit losses” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2021 for further information on the main risk characteristics of the Group’s other financial assets held at amortized cost. The current-period provision for expected credit losses on other financial assets held at amortized cost includes a provision of CHF 0 million in 2Q22, a release of CHF 155 million in 1Q22, a provision of CHF 70 million in 2Q21, a release of CHF 155 million in 6M22 and a provision of CHF 4,500 million in 6M21 related to Archegos. As of the end of 2Q22 and 4Q21, the allowance for credit losses on brokerage receivables of CHF 4,215 million and CHF 4,186 million, respectively, were primarily related to Archegos. In 2Q22, 1Q22, 2Q21, 6M22 and 6M21, the Group purchased other financial assets held at amortized cost amounting to CHF 230 million, CHF 151 million, CHF 32 million, CHF 381 million and CHF 32 million, respectively, primarily related to mortgage servicing advances. Allowance for credit losses – other financial assets held at amortized cost 2Q22 1Q22 2Q21 6M22 6M21 Allowance for credit losses (CHF million) Balance at beginning of period 4,102 4,216 4,488 4,216 55 Current-period provision for expected credit losses 2 (148) 56 (146) 4,490 Gross write-offs (1) (3) (4) (4) (4) Recoveries 0 0 0 0 0 Net write-offs (1) (3) (4) (4) (4) Foreign currency translation impact and other adjustments, net 148 37 (70) 185 (71) Balance at end of period 4,251 4,102 4,470 4,251 4,470 of which individually evaluated 4,232 4,084 4,450 4,232 4,450 of which collectively evaluated 19 18 20 19 20 Credit quality information > Refer to “Note 20 – Financial instruments measured at amortized cost and credit losses” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2021 for further information on the Group’s monitoring of credit quality and internal ratings. Credit quality of loans held at amortized cost The following table presents the Group’s carrying value of loans held at amortized cost by aggregated internal counterparty credit ratings “investment grade” and “non-investment grade” that are used as credit quality indicators for the purpose of this disclosure, by year of origination. Within the line items relating to the origination year, the first year represents the origination year of the current reporting period and the second year represents the origination year of the comparative reporting period. Consumer loans held at amortized cost by internal counterparty rating 2Q22 4Q21 Investment Non-investment Investment Non-investment end of AAA to BBB BB to C D Total AAA to BBB BB to C D Total CHF million Mortgages 2022 / 2021 6,131 1,154 1 7,286 24,257 2,134 40 26,431 2021 / 2020 22,988 1,711 35 24,734 14,743 1,402 13 16,158 2020 / 2019 13,880 1,235 32 15,147 11,308 1,639 48 12,995 2019 / 2018 10,677 1,427 74 12,178 7,287 812 88 8,187 2018 / 2017 6,929 721 58 7,708 5,318 698 74 6,090 Prior years 38,422 2,491 327 41,240 36,790 2,359 317 39,466 Total term loans 99,027 8,739 527 108,293 99,703 9,044 580 109,327 Revolving loans 317 873 0 1,190 276 930 0 1,206 Total 99,344 9,612 527 109,483 99,979 9,974 580 110,533 Loans collateralized by securities 2022 / 2021 1,057 708 0 1,765 2,627 685 0 3,312 2021 / 2020 1,800 391 0 2,191 649 848 0 1,497 2020 / 2019 467 789 0 1,256 61 167 0 228 2019 / 2018 70 148 0 218 32 26 106 164 2018 / 2017 18 25 0 43 55 19 0 74 Prior years 1,007 258 0 1,265 804 681 0 1,485 Total term loans 4,419 2,319 0 6,738 4,228 2,426 106 6,760 Revolving loans 1 35,899 2,783 238 38,920 41,275 3,063 155 44,493 Total 40,318 5,102 238 45,658 45,503 5,489 261 51,253 Consumer finance 2022 / 2021 1,313 671 1 1,985 1,688 823 5 2,516 2021 / 2020 870 517 11 1,398 538 288 15 841 2020 / 2019 397 246 15 658 285 234 19 538 2019 / 2018 179 216 18 413 98 169 18 285 2018 / 2017 51 126 16 193 21 75 13 109 Prior years 20 116 49 185 13 76 43 132 Total term loans 2,830 1,892 110 4,832 2,643 1,665 113 4,421 Revolving loans 331 56 88 475 348 21 90 459 Total 3,161 1,948 198 5,307 2,991 1,686 203 4,880 Consumer – total 2022 / 2021 8,501 2,533 2 11,036 28,572 3,642 45 32,259 2021 / 2020 25,658 2,619 46 28,323 15,930 2,538 28 18,496 2020 / 2019 14,744 2,270 47 17,061 11,654 2,040 67 13,761 2019 / 2018 10,926 1,791 92 12,809 7,417 1,007 212 8,636 2018 / 2017 6,998 872 74 7,944 5,394 792 87 6,273 Prior years 39,449 2,865 376 42,690 37,607 3,116 360 41,083 Total term loans 106,276 12,950 637 119,863 106,574 13,135 799 120,508 Revolving loans 36,547 3,712 326 40,585 41,899 4,014 245 46,158 Total 142,823 16,662 963 160,448 148,473 17,149 1,044 166,666 1 Lombard loans are generally classified as revolving loans. Corporate & institutional loans held at amortized cost by internal counterparty rating 2Q22 4Q21 Investment Non-investment Investment Non-investment end of AAA to BBB BB to C D Total AAA to BBB BB to C D Total CHF million Real estate 2022 / 2021 2,328 1,602 0 3,930 9,568 4,682 2 14,252 2021 / 2020 8,356 3,128 1 11,485 3,709 1,355 5 5,069 2020 / 2019 3,476 931 4 4,411 1,849 706 2 2,557 2019 / 2018 1,227 583 29 1,839 925 340 1 1,266 2018 / 2017 878 284 1 1,163 475 101 0 576 Prior years 2,506 361 23 2,890 2,469 376 30 2,875 Total term loans 18,771 6,889 58 25,718 18,995 7,560 40 26,595 Revolving loans 635 223 129 987 778 297 135 1,210 Total 19,406 7,112 187 26,705 19,773 7,857 175 27,805 Commercial and industrial loans 2022 / 2021 5,697 8,373 221 14,291 8,284 11,985 136 20,405 2021 / 2020 4,437 6,334 100 10,871 3,242 4,468 62 7,772 2020 / 2019 2,024 3,456 42 5,522 2,110 3,903 105 6,118 2019 / 2018 1,865 3,073 166 5,104 1,003 2,256 177 3,436 2018 / 2017 808 1,855 87 2,750 697 937 60 1,694 Prior years 2,228 3,595 205 6,028 2,013 2,848 90 4,951 Total term loans 17,059 26,686 821 44,566 17,349 26,397 630 44,376 Revolving loans 12,877 7,342 348 20,567 13,941 7,458 372 21,771 Total 29,936 34,028 1,169 65,133 31,290 33,855 1,002 66,147 Financial institutions 2022 / 2021 4,507 789 92 5,388 6,360 2,012 51 8,423 2021 / 2020 4,131 1,353 0 5,484 2,081 201 30 2,312 2020 / 2019 1,294 176 0 1,470 660 127 1 788 2019 / 2018 482 52 1 535 522 151 1 674 2018 / 2017 532 102 1 635 87 19 0 106 Prior years 1,001 71 0 1,072 499 85 1 585 Total term loans 11,947 2,543 94 14,584 10,209 2,595 84 12,888 Revolving loans 8,405 657 137 9,199 7,542 485 1 8,028 Total 20,352 3,200 231 23,783 17,751 3,080 85 20,916 Governments and public institutions 2022 / 2021 55 17 0 72 521 26 0 547 2021 / 2020 978 31 0 1,009 157 114 0 271 2020 / 2019 160 128 0 288 94 19 19 132 2019 / 2018 102 1 11 114 46 11 0 57 2018 / 2017 55 0 0 55 28 0 0 28 Prior years 207 20 0 227 199 21 0 220 Total term loans 1,557 197 11 1,765 1,045 191 19 1,255 Revolving loans 73 0 0 73 32 0 0 32 Total 1,630 197 11 1,838 1,077 191 19 1,287 Corporate & institutional – total 2022 / 2021 12,587 10,781 313 23,681 24,733 18,705 189 43,627 2021 / 2020 17,902 10,846 101 28,849 9,189 6,138 97 15,424 2020 / 2019 6,954 4,691 46 11,691 4,713 4,755 127 9,595 2019 / 2018 3,676 3,709 207 7,592 2,496 2,758 179 5,433 2018 / 2017 2,273 2,241 89 4,603 1,287 1,057 60 2,404 Prior years 5,942 4,047 228 10,217 5,180 3,330 121 8,631 Total term loans 49,334 36,315 984 86,633 47,598 36,743 773 85,114 Revolving loans 21,990 8,222 614 30,826 22,293 8,240 508 31,041 Total 71,324 44,537 1,598 117,459 69,891 44,983 1,281 116,155 Total loans held at amortized cost by internal counterparty rating 2Q22 4Q21 Investment Non-investment Investment Non-investment end of AAA to BBB BB to C D Total AAA to BBB BB to C D Total CHF million Loans held at amortized cost – total 2022 / 2021 21,088 13,314 315 34,717 53,305 22,347 234 75,886 2021 / 2020 43,560 13,465 147 57,172 25,119 8,676 125 33,920 2020 / 2019 21,698 6,961 93 28,752 16,367 6,795 194 23,356 2019 / 2018 14,602 5,500 299 20,401 9,913 3,765 391 14,069 2018 / 2017 9,271 3,113 163 12,547 6,681 1,849 147 8,677 Prior years 45,391 6,912 604 52,907 42,787 6,446 481 49,714 Total term loans 155,610 49,265 1,621 206,496 154,172 49,878 1,572 205,622 Revolving loans 58,537 11,934 940 71,411 64,192 12,254 753 77,199 Total 214,147 61,199 2,561 277,907 1 218,364 62,132 2,325 282,821 1 1 Excludes accrued interest on loans held at amortized cost of CHF 355 million and CHF 295 million as of the end of 2Q22 and 4Q21, respectively. Credit quality of other financial assets held at amortized cost The following table presents the Group’s carrying value of other financial assets held at amortized cost by aggregated internal counterparty credit ratings “investment grade” and “non-investment grade”, by year of origination. Within the line items relating to the origination year, the first year represents the origination year of the current reporting period and the second year represents the origination year of the comparative reporting period. Other financial assets held at amortized cost by internal counterparty rating 2Q22 4Q21 Investment Non-investment Investment Non-investment end of AAA to BBB BB to C D Total AAA to BBB BB to C D Total CHF million Other financial assets held at amortized cost 2022 / 2021 0 0 0 0 0 5 0 5 2021 / 2020 0 3 0 3 0 0 0 0 2020 / 2019 0 0 0 0 0 0 0 0 2019 / 2018 0 0 0 0 0 63 0 63 2018 / 2017 0 59 0 59 0 2 0 2 Prior years 0 3 0 3 0 2 0 2 Total term positions 0 65 0 65 0 72 0 72 Revolving positions 0 1,236 0 1,236 0 970 0 970 Total 0 1,301 0 1,301 0 1,042 0 1,042 Includes primarily mortgage servicing advances and failed purchases. Past due financial assets Generally, a financial asset is deemed past due if the principal and/or interest payment has not been received on its due date. Loans held at amortized cost – past due Current Past due Up to 31–60 61–90 More than 2Q22 (CHF million) Mortgages 108,879 150 15 17 422 604 109,483 Loans collateralized by securities 45,488 5 0 24 141 170 45,658 Consumer finance 4,770 320 14 53 150 537 5,307 Consumer 159,137 475 29 94 713 1,311 160,448 Real estate 26,414 64 11 0 216 291 26,705 Commercial and industrial loans 63,783 584 56 99 611 1,350 65,133 Financial institutions 23,237 448 33 10 55 546 23,783 Governments and public institutions 1,757 70 0 0 11 81 1,838 Corporate & institutional 115,191 1,166 100 109 893 2,268 117,459 Total loans held at amortized cost 274,328 1,641 129 203 1,606 3,579 277,907 1 4Q21 (CHF million) Mortgages 109,877 123 73 61 399 656 110,533 Loans collateralized by securities 51,069 42 0 0 142 184 51,253 Consumer finance 4,449 144 70 60 157 431 4,880 Consumer 165,395 309 143 121 698 1,271 166,666 Real estate 27,628 6 4 0 167 177 27,805 Commercial and industrial loans 65,327 166 13 12 629 820 66,147 Financial institutions 20,807 60 7 1 41 109 20,916 Governments and public institutions 1,252 16 0 0 19 35 1,287 Corporate & institutional 115,014 248 24 13 856 1,141 116,155 Total loans held at amortized cost 280,409 557 167 134 1,554 2,412 282,821 1 1 Excludes accrued interest on loans held at amortized cost of CHF 355 million and CHF 295 million as of the end of 2Q22 and 4Q21, respectively. As of the end of 2Q22 and 4Q21, the Group did not have any loans that were past due more than 90 days and still accruing interest. Also, the Group did not have any other financial assets held at amortized cost that were past due. Non-accrual financial assets For loans held at amortized cost, non-accrual loans are comprised of non-performing loans and non-interest-earning loans. > Refer to “Note 1 – Summary of significant accounting policies” and “Note 20 – Financial instruments measured at amortized cost and credit losses” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2021 for further information on non-accrual loans. In the Group’s recovery management function covering the Investment Bank, a position is written down to its net carrying value once the credit provision is greater than 90% Non-accrual loans held at amortized cost 6M22 6M21 Amortized Amortized CHF million Mortgages 572 503 1 74 418 615 2 167 Loans collateralized by securities 262 238 2 2 105 298 3 0 Consumer finance 205 200 1 1 201 200 1 1 Consumer 1,039 941 4 77 724 1,113 6 168 Real estate 167 143 0 0 324 293 6 46 Commercial and industrial loans 698 707 6 57 925 790 8 30 Financial institutions 41 192 0 3 68 63 0 0 Governments and public institutions 19 11 0 2 0 20 0 0 Corporate & institutional 925 1,053 6 62 1,317 1,166 14 76 Total loans held at amortized cost 1,964 1,994 10 139 2,041 2,279 20 244 Collateral-dependent financial assets The Group’s collateral-dependent financial assets are managed by a global recovery management function which is divisionally aligned to cover the Investment Bank, Wealth Management and the Swiss Bank. Collateral-dependent financial assets managed by the recovery management function covering the Investment Bank mainly include mortgages, revolving corporate loans, securities borrowing, trade finance exposures and lombard loans. For mortgages, property, guarantees and life insurance policies are the main collateral types. For revolving corporate loans, collateral includes mainly cash, inventory, oil and gas reserves and receivables. Securities borrowing exposures are mainly secured by pledged shares, bonds, investment fund units and money market instruments. Trade finance exposures are secured by cash and guarantees. For lombard loans, the Group holds collateral in the form of pledged shares, bonds, investment fund units and money market instruments as well as cash and life insurance policies. The overall collateral coverage ratio was stable at 90% Collateral-dependent financial assets managed by the recovery management function for Wealth Management mainly include ship finance exposures, commercial loans, lombard loans, residential mortgages as well as aviation and yacht finance exposures. Ship finance exposures are collateralized by vessel mortgages, corporate guarantees, insurance assignments as well as cash balances, securities deposits or other assets held with the Group. Collateral held against commercial loans include primarily guarantees issued by export credit agencies, other guarantees, private risk insurance, asset pledges and assets held with the Group (e.g., cash, securities deposits and others). Lombard loans are collateralized by pledged financial assets mainly in the form of cash, shares, bonds, investment fund units and money market instruments as well as life insurance policies and bank guarantees. Residential mortgages are secured by mortgage notes on residential real estate, life insurance policies as well as cash balances, securities deposits or other assets held with the Group. Aviation and yacht finance exposures are collateralized by aircraft mortgages of business jets and vessel mortgages on yachts, respectively, as well as corporate and/or personal guarantees, cash balances, securities deposits or other assets held with the Group. Collateral-dependent loans decreased in 2Q22, mainly driven by decreases in aviation finance and export finance, partially offset by increases in residential mortgages and ship finance. The overall collateral coverage ratio decreased from 89% 87% Collateral-dependent financial assets managed by the recovery management function for Swiss Bank mainly include residential mortgages and commercial mortgages. Collateral held against residential mortgages includes mainly mortgage notes on residential real estate, pledged capital awards in retirement plans and life insurance policies. For commercial mortgages, collateral held includes primarily mortgage notes on commercial real estate and cash balances, securities deposits or other assets held with the Group. The overall collateral coverage ratio in relation to the collateral-dependent financial assets decreased from 86% 85% Off-balance sheet credit exposures > Refer to “Note 1 – Summary of significant accounting policies” and “Note 20 – Financial instruments measured at amortized cost and credit losses” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2021 for further information on the main risk characteristics and on estimating the provisions for expected credit losses on off-balance sheet credit exposures. Troubled debt restructurings and modifications Restructured financing receivables held at amortized cost 2Q22 1Q22 2Q21 Recorded Recorded Recorded Recorded Recorded Recorded CHF million, except where indicated Real estate 1 102 82 0 0 0 1 2 2 Commercial and industrial loans 7 128 128 4 69 47 4 19 15 Total loans 8 230 210 4 69 47 5 21 17 6M22 6M21 Recorded Recorded Recorded Recorded CHF million, except where indicated Real estate 1 102 82 1 2 2 Commercial and industrial loans 11 197 175 14 390 382 Financial institutions 0 0 0 1 44 44 Total loans 12 299 257 16 436 428 Restructured financing receivables held at amortized cost that defaulted within 12 months from restructuring 2Q22 1Q22 2Q21 Number of Recorded Number of Recorded Number of Recorded CHF million, except where indicated Loans collateralized by securities 0 0 0 0 3 156 Total loans 0 0 0 0 3 156 6M22 6M21 Number of Recorded Number of Recorded CHF million, except where indicated Loans collateralized by securities 0 0 3 156 Total loans 0 0 3 156 In 6M22, the loan modifications of the Group mainly included extended loan repayment terms, including postponed loan amortizations and extended maturity dates, interest rate concessions, a waiver of interest, a reduction of a loan commitment and changes in collateral coverage terms. In March 2020, US federal banking regulators issued the “Interagency Statement on Loan Modifications and Reporting for Financial Institutions Working with Customers Affected by the Coronavirus (Revised)” (Interagency Statement). According to the Interagency Statement, short-term modifications made on a good faith basis in response to the COVID-19 crisis to borrowers that were otherwise current would not be considered to be troubled debt restructurings. This includes short-term modifications such as payment deferrals, fee waivers, repayment term extensions or payment delays that are insignificant. The Interagency Statement was developed in consultation with the FASB and the Group has applied this guidance. The Group has granted short-term modifications to certain borrowers due to the COVID-19 crisis in the form of deferrals of capital and interest payments that are within the scope of this guidance and the loans subject to those deferrals have not been reported as troubled debt restructurings in restructured loans. |
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Financial instruments measured at amortized cost and credit losses | 18 Financial instruments measured at amortized cost and credit losses > Refer to “Note 19 – Financial instruments measured at amortized cost and credit losses” in III – Condensed consolidated financial statements – Credit Suisse Group in the Credit Suisse Financial Report 2Q22 for further information. Overview of financial instruments measured at amortized cost – by balance sheet position 6M22 2021 1 Allowance Net 1 Allowance Net CHF million Cash and due from banks 158,535 0 158,535 163,718 0 163,718 Interest-bearing deposits with banks 785 (5) 780 1,256 4 0 1,256 Securities purchased under resale agreements and securities borrowing transactions 21,764 2 0 21,764 35,283 0 35,283 Loans 286,265 2,3 (1,359) 284,906 291,411 4,5 (1,296) 290,115 Brokerage receivables 19,277 2 (4,215) 15,062 20,875 4 (4,186) 16,689 Other assets 16,462 (29) 16,433 14,226 (28) 14,198 Total 503,088 (5,608) 497,480 526,769 (5,510) 521,259 1 Net of unearned income/deferred expenses, as applicable. 2 Excludes accrued interest in the total amount of CHF 358 million, with no 3 Includes endangered interest of CHF 63 million on non-accrual loans which are reported as part of the loans' amortized cost balance. 4 Excludes accrued interest in the total amount of CHF 301 million, with no 5 Includes endangered interest of CHF 85 million on non-accrual loans which are reported as part of the loans' amortized cost balance. Allowance for credit losses > Refer to “Note 19 – Financial instruments measured at amortized cost and credit losses” in III – Condensed consolidated financial statements – Credit Suisse Group in the Credit Suisse Financial Report 2Q22 and 1Q22 for further information on estimating expected credit losses in 6M22. Loans held at amortized cost Allowance for credit losses – loans held at amortized cost 6M22 6M21 Corporate & Corporate & CHF million Balance at beginning of period 357 939 1,296 318 1,217 1,535 Current-period provision for expected credit losses 43 92 135 43 (79) (36) of which provisions for interest 1 10 11 21 8 8 16 Gross write-offs (26) (69) (95) (27) (101) (128) Recoveries 4 3 7 4 0 4 Net write-offs (22) (66) (88) (23) (101) (124) Foreign currency translation impact and other adjustments, net 5 11 16 7 29 36 Balance at end of period 383 976 1,359 345 1,066 1,411 of which individually evaluated 281 544 825 255 613 868 of which collectively evaluated 102 432 534 90 453 543 1 Represents the current-period net provision for accrued interest on non-accrual loans and lease financing transactions which is recognized as a reversal of interest income. > Refer to “Note 19 – Financial instruments measured at amortized cost and credit losses” in III – Condensed consolidated financial statements – Credit Suisse Group in the Credit Suisse Financial Report 2Q22 and 1Q22 for further information on the Bank’s gross write-offs in 6M22. Purchases, reclassifications and sales – loans held at amortized cost 6M22 6M21 Corporate & Corporate & CHF million Purchases 1 16 2,312 2,328 17 1,969 1,986 Reclassifications from loans held-for-sale 2 0 95 95 0 13 13 Reclassifications to loans held-for-sale 3 0 1,480 1,480 0 2,120 2,120 Sales 3 0 1,283 1,283 0 2,007 2,007 Reclassifications from loans held-for-sale and reclassifications to loans held-for-sale represent non-cash transactions. 1 Includes drawdowns under purchased loan commitments. 2 Includes loans previously reclassified to held-for-sale that were not sold and were reclassified back to loans held-to-maturity. 3 All loans held at amortized cost which are sold are reclassified to loans held-for-sale on or prior to the date of the sale. Other financial assets The current-period provision for expected credit losses on other financial assets held at amortized cost includes a release of CHF 155 million in 6M22 and a provision of CHF 4,500 million in 6M21 related to Archegos. As of the end of 6M22 and 2021, the allowance for credit losses on brokerage receivables of CHF 4,215 million and CHF 4,186 million, respectively, were primarily related to Archegos. In 6M22 and 6M21, the Group purchased other financial assets held at amortized cost amounting to CHF 381 million and CHF 32 million, respectively, primarily related to mortgage servicing advances. Allowance for credit losses – other financial assets held at amortized cost 6M22 6M21 CHF million Balance at beginning of period 4,214 48 Current-period provision for expected credit losses (147) 4,494 Gross write-offs (4) (4) Recoveries 0 0 Net write-offs (4) (4) Foreign currency translation impact and other adjustments, net 186 (70) Balance at end of period 4,249 4,468 of which individually evaluated 4,230 4,448 of which collectively evaluated 19 20 Credit quality information Credit quality of loans held at amortized cost The following table presents the Bank’s carrying value of loans held at amortized cost by aggregated internal counterparty credit ratings “investment grade” and “non-investment grade” that are used as credit quality indicators for the purpose of this disclosure, by year of origination. Within the line items relating to the origination year, the first year represents the origination year of the current reporting period and the second year represents the origination year of the comparative reporting period. Consumer loans held at amortized cost by internal counterparty rating 6M22 2021 Investment Non-investment Investment Non-investment end of AAA to BBB BB to C D Total AAA to BBB BB to C D Total CHF million Mortgages 2022 / 2021 6,131 1,154 1 7,286 24,257 2,134 40 26,431 2021 / 2020 22,988 1,711 35 24,734 14,743 1,402 13 16,158 2020 / 2019 13,880 1,235 32 15,147 11,308 1,639 48 12,995 2019 / 2018 10,677 1,427 74 12,178 7,287 812 88 8,187 2018 / 2017 6,929 721 58 7,708 5,318 698 74 6,090 Prior years 38,422 2,491 327 41,240 36,790 2,359 317 39,466 Total term loans 99,027 8,739 527 108,293 99,703 9,044 580 109,327 Revolving loans 317 873 0 1,190 276 930 0 1,206 Total 99,344 9,612 527 109,483 99,979 9,974 580 110,533 Loans collateralized by securities 2022 / 2021 1,057 708 0 1,765 2,627 685 0 3,312 2021 / 2020 1,800 391 0 2,191 649 848 0 1,497 2020 / 2019 467 789 0 1,256 61 167 0 228 2019 / 2018 70 148 0 218 32 26 106 164 2018 / 2017 18 25 0 43 55 19 0 74 Prior years 1,007 258 0 1,265 804 681 0 1,485 Total term loans 4,419 2,319 0 6,738 4,228 2,426 106 6,760 Revolving loans 1 35,899 2,783 238 38,920 41,275 3,063 155 44,493 Total 40,318 5,102 238 45,658 45,503 5,489 261 51,253 Consumer finance 2022 / 2021 1,313 671 1 1,985 1,688 823 5 2,516 2021 / 2020 870 517 11 1,398 538 288 15 841 2020 / 2019 397 246 15 658 285 234 19 538 2019 / 2018 179 216 18 413 98 169 18 285 2018 / 2017 51 126 16 193 21 75 13 109 Prior years 20 116 49 185 13 76 43 132 Total term loans 2,830 1,892 110 4,832 2,643 1,665 113 4,421 Revolving loans 331 56 88 475 348 21 90 459 Total 3,161 1,948 198 5,307 2,991 1,686 203 4,880 Consumer – total 2022 / 2021 8,501 2,533 2 11,036 28,572 3,642 45 32,259 2021 / 2020 25,658 2,619 46 28,323 15,930 2,538 28 18,496 2020 / 2019 14,744 2,270 47 17,061 11,654 2,040 67 13,761 2019 / 2018 10,926 1,791 92 12,809 7,417 1,007 212 8,636 2018 / 2017 6,998 872 74 7,944 5,394 792 87 6,273 Prior years 39,449 2,865 376 42,690 37,607 3,116 360 41,083 Total term loans 106,276 12,950 637 119,863 106,574 13,135 799 120,508 Revolving loans 36,547 3,712 326 40,585 41,899 4,014 245 46,158 Total 142,823 16,662 963 160,448 148,473 17,149 1,044 166,666 1 Lombard loans are generally classified as revolving loans. Corporate & institutional loans held at amortized cost by internal counterparty rating 6M22 2021 Investment Non-investment Investment Non-investment end of AAA to BBB BB to C D Total AAA to BBB BB to C D Total CHF million Real estate 2022 / 2021 2,328 1,602 0 3,930 9,568 4,682 2 14,252 2021 / 2020 8,356 3,128 1 11,485 3,709 1,355 5 5,069 2020 / 2019 3,476 931 4 4,411 1,849 706 2 2,557 2019 / 2018 1,227 583 29 1,839 925 340 1 1,266 2018 / 2017 878 284 1 1,163 475 101 0 576 Prior years 2,506 361 23 2,890 2,469 376 30 2,875 Total term loans 18,771 6,889 58 25,718 18,995 7,560 40 26,595 Revolving loans 635 223 129 987 778 297 135 1,210 Total 19,406 7,112 187 26,705 19,773 7,857 175 27,805 Commercial and industrial loans 2022 / 2021 5,697 8,373 221 14,291 8,284 11,985 136 20,405 2021 / 2020 4,437 6,334 100 10,871 3,242 4,468 62 7,772 2020 / 2019 2,024 3,456 42 5,522 2,110 3,903 105 6,118 2019 / 2018 1,865 3,073 166 5,104 1,003 2,256 177 3,436 2018 / 2017 808 1,855 87 2,750 697 937 60 1,694 Prior years 2,228 3,595 194 6,017 2,013 2,848 78 4,939 Total term loans 17,059 26,686 810 44,555 17,349 26,397 618 44,364 Revolving loans 12,877 7,342 348 20,567 13,941 7,458 372 21,771 Total 29,936 34,028 1,158 65,122 31,290 33,855 990 66,135 Financial institutions 2022 / 2021 4,507 789 92 5,388 6,360 2,012 51 8,423 2021 / 2020 4,131 1,353 0 5,484 2,081 201 30 2,312 2020 / 2019 1,294 176 0 1,470 660 127 1 788 2019 / 2018 482 52 1 535 522 151 1 674 2018 / 2017 532 102 1 635 87 19 0 106 Prior years 1,001 71 0 1,072 499 85 1 585 Total term loans 11,947 2,543 94 14,584 10,209 2,595 84 12,888 Revolving loans 8,405 657 137 9,199 7,542 485 1 8,028 Total 20,352 3,200 231 23,783 17,751 3,080 85 20,916 Governments and public institutions 2022 / 2021 55 17 0 72 521 26 0 547 2021 / 2020 978 31 0 1,009 157 114 0 271 2020 / 2019 160 128 0 288 94 19 19 132 2019 / 2018 102 1 11 114 46 11 0 57 2018 / 2017 55 0 0 55 28 0 0 28 Prior years 207 20 0 227 199 21 0 220 Total term loans 1,557 197 11 1,765 1,045 191 19 1,255 Revolving loans 73 0 0 73 32 0 0 32 Total 1,630 197 11 1,838 1,077 191 19 1,287 Corporate & institutional – total 2022 / 2021 12,587 10,781 313 23,681 24,733 18,705 189 43,627 2021 / 2020 17,902 10,846 101 28,849 9,189 6,138 97 15,424 2020 / 2019 6,954 4,691 46 11,691 4,713 4,755 127 9,595 2019 / 2018 3,676 3,709 207 7,592 2,496 2,758 179 5,433 2018 / 2017 2,273 2,241 89 4,603 1,287 1,057 60 2,404 Prior years 5,942 4,047 217 10,206 5,180 3,330 109 8,619 Total term loans 49,334 36,315 973 86,622 47,598 36,743 761 85,102 Revolving loans 21,990 8,222 614 30,826 22,293 8,240 508 31,041 Total 71,324 44,537 1,587 117,448 69,891 44,983 1,269 116,143 Total loans held at amortized cost by internal counterparty rating 6M22 2021 Investment Non-investment Investment Non-investment end of AAA to BBB BB to C D Total AAA to BBB BB to C D Total CHF million Loans held at amortized cost – total 2022 / 2021 21,088 13,314 315 34,717 53,305 22,347 234 75,886 2021 / 2020 43,560 13,465 147 57,172 25,119 8,676 125 33,920 2020 / 2019 21,698 6,961 93 28,752 16,367 6,795 194 23,356 2019 / 2018 14,602 5,500 299 20,401 9,913 3,765 391 14,069 2018 / 2017 9,271 3,113 163 12,547 6,681 1,849 147 8,677 Prior years 45,391 6,912 593 52,896 42,787 6,446 469 49,702 Total term loans 155,610 49,265 1,610 206,485 154,172 49,878 1,560 205,610 Revolving loans 58,537 11,934 940 71,411 64,192 12,254 753 77,199 Total loans to third parties 214,147 61,199 2,550 277,896 218,364 62,132 2,313 282,809 Total loans to entities under common control 8,425 17 0 8,442 8,683 0 0 8,683 Total 222,572 61,216 2,550 286,338 1 227,047 62,132 2,313 291,492 1 1 Excludes accrued interest on loans held at amortized cost of CHF 355 million and CHF 295 million as of the end of 6M22 and 2021, respectively. Credit quality of other financial assets held at amortized cost The following table presents the Bank’s carrying value of other financial assets held at amortized cost by aggregated internal counterparty credit ratings “investment grade” and “non-investment grade”, by year of origination. Within the line items relating to the origination year, the first year represents the origination year of the current reporting period and the second year represents the origination year of the comparative reporting period. Other financial assets held at amortized cost by internal counterparty rating 6M22 2021 Investment Non-investment Investment Non-investment end of AAA to BBB BB to C D Total AAA to BBB BB to C D Total CHF million Other financial assets held at amortized cost 2022 / 2021 0 0 0 0 0 5 0 5 2021 / 2020 0 3 0 3 0 0 0 0 2020 / 2019 0 0 0 0 0 0 0 0 2019 / 2018 0 0 0 0 0 63 0 63 2018 / 2017 0 59 0 59 0 2 0 2 Prior years 0 3 0 3 0 2 0 2 Total term positions 0 65 0 65 0 72 0 72 Revolving positions 0 1,236 0 1,236 0 970 0 970 Total 0 1,301 0 1,301 0 1,042 0 1,042 Includes primarily mortgage servicing advances and failed purchases. Past due financial assets Loans held at amortized cost – past due Current Past due Up to 31–60 61–90 More than 6M22 (CHF million) Mortgages 108,879 150 15 17 422 604 109,483 Loans collateralized by securities 45,488 5 0 24 141 170 45,658 Consumer finance 4,770 320 14 53 150 537 5,307 Consumer 159,137 475 29 94 713 1,311 160,448 Real estate 26,414 64 11 0 216 291 26,705 Commercial and industrial loans 63,783 584 56 99 600 1,339 65,122 Financial institutions 23,237 448 33 10 55 546 23,783 Governments and public institutions 1,757 70 0 0 11 81 1,838 Corporate & institutional 115,191 1,166 100 109 882 2,257 117,448 Total loans to third parties 274,328 1,641 129 203 1,595 3,568 277,896 Total loans to entities under common control 8,442 0 0 0 0 0 8,442 Total loans held at amortized cost 282,770 1,641 129 203 1,595 3,568 286,338 1 2021 (CHF million) Mortgages 109,877 123 73 61 399 656 110,533 Loans collateralized by securities 51,069 42 0 0 142 184 51,253 Consumer finance 4,449 144 70 60 157 431 4,880 Consumer 165,395 309 143 121 698 1,271 166,666 Real estate 27,628 6 4 0 167 177 27,805 Commercial and industrial loans 65,327 166 13 12 617 808 66,135 Financial institutions 20,807 60 7 1 41 109 20,916 Governments and public institutions 1,252 16 0 0 19 35 1,287 Corporate & institutional 115,014 248 24 13 844 1,129 116,143 Total loans to third parties 280,409 557 167 134 1,542 2,400 282,809 Total loans to entities under common control 8,683 0 0 0 0 0 8,683 Total loans held at amortized cost 289,092 557 167 134 1,542 2,400 291,492 1 1 Excludes accrued interest on loans held at amortized cost of CHF 355 million and CHF 295 million as of the end of 6M22 and 2021, respectively. As of the end of 6M22 and 2021, the Bank did not have any loans that were past due more than 90 days and still accruing interest. Also, the Bank did not have any other financial assets held at amortized cost that were past due. Non-accrual financial assets Non-accrual loans held at amortized cost 6M22 6M21 Amortized Amortized CHF million Mortgages 572 503 1 74 418 615 2 167 Loans collateralized by securities 262 238 2 2 105 298 3 0 Consumer finance 205 200 1 1 201 200 1 1 Consumer 1,039 941 4 77 724 1,113 6 168 Real estate 167 143 0 0 324 293 6 46 Commercial and industrial loans 686 696 6 57 913 778 8 30 Financial institutions 41 192 0 3 68 63 0 0 Governments and public institutions 19 11 0 2 0 20 0 0 Corporate & institutional 913 1,042 6 62 1,305 1,154 14 76 Total loans held at amortized cost 1,952 1,983 10 139 2,029 2,267 20 244 Collateral-dependent financial assets > Refer to “Note 19 – Financial instruments measured at amortized cost and credit losses” in III – Condensed consolidated financial statements – Credit Suisse Group in the Credit Suisse Financial Report 2Q22 and 1Q22 for further information on the Bank’s collateral-dependent financial assets. Troubled debt restructurings and modifications Restructured financing receivables held at amortized cost 6M22 6M21 Recorded Recorded Recorded Recorded CHF million, except where indicated Real estate 1 102 82 1 2 2 Commercial and industrial loans 11 197 175 14 390 382 Financial institutions 0 0 0 1 44 44 Total loans 12 299 257 16 436 428 Restructured financing receivables held at amortized cost that defaulted within 12 months from restructuring 6M22 6M21 Number of Recorded Number of Recorded CHF million, except where indicated Loans collateralized by securities 0 0 3 156 Total loans 0 0 3 156 In 6M22, the loan modifications of the Bank mainly included extended loan repayment terms, including postponed loan amortizations and extended maturity dates, interest rate concessions, a waiver of interest, a reduction of a loan commitment and changes in collateral coverage terms. |
Goodwill
Goodwill | 6 Months Ended |
Jun. 30, 2022 | |
Goodwill | 20 Goodwill Credit 1 Gross amount of goodwill (CHF million) Balance at beginning of period 1,328 5,502 489 1,114 8,445 Foreign currency translation impact 25 0 7 34 66 Other (23) 23 0 0 0 Balance at end of period 1,330 5,525 496 1,148 8,511 Accumulated impairment (CHF million) Balance at beginning of period 0 5,502 0 0 5,514 Impairment losses 0 23 0 0 23 Balance at end of period 0 5,525 0 0 5,537 Net book value (CHF million) Net book value 1,330 0 496 1,148 2,974 6M22 Gross amount of goodwill (CHF million) Balance at beginning of period 1,323 5,502 487 1,107 8,431 Foreign currency translation impact 30 0 9 41 80 Other (23) 23 0 0 0 Balance at end of period 1,330 5,525 496 1,148 8,511 Accumulated impairment (CHF million) Balance at beginning of period 0 5,502 0 0 5,514 Impairment losses 0 23 0 0 23 Balance at end of period 0 5,525 0 0 5,537 Net book value (CHF million) Net book value 1,330 0 496 1,148 2,974 1 Gross amount of goodwill and accumulated impairment include CHF 12 million related to legacy business transferred to the former Strategic Resolution Unit in 4Q15 and fully written off at the time of transfer, in addition to the divisions disclosed. In accordance with US GAAP, the Group continually assesses whether or not there has been a triggering event requiring a review of goodwill. Subsequent to the creation of the new segment structure, effective January 1, 2022, a portion of the Wealth Management business was transferred to the Investment Bank. Goodwill is reallocated between reporting units on a relative fair value basis. The Group concluded that the goodwill transferred to the Investment Banking reporting unit of CHF 23 million was fully impaired. There were no other events during 2Q22 that constituted a triggering event. The carrying value of each reporting unit for the purpose of the goodwill impairment test is determined by considering the reporting units’ risk-weighted assets usage, leverage ratio exposure, deferred tax assets, goodwill, intangible assets and other CET1 capital relevant adjustments. Any residual equity, after considering the total of these elements, is allocated to the reporting units on a pro-rata basis. In estimating the fair value of its reporting units, the Group applies a combination of the market approach and the income approach. Under the market approach, consideration is 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 is 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 relies upon its latest five-year financial plan. Estimates of the Group’s future earnings potential, and that of the reporting units, involve considerable judgment, including management’s view on future changes in market cycles, the regulatory environment and the anticipated result of the implementation of business strategies, competitive factors and assumptions concerning the retention of key employees. The results of the impairment evaluation of each reporting unit’s goodwill would be significantly impacted by adverse changes in the underlying parameters used in the valuation process. If actual outcomes or the future outlook adversely differ from management’s best estimates of the key economic assumptions and associated cash flows applied in the valuation of the reporting unit, the Group could potentially incur material impairment charges in the future. |
Bank | |
Goodwill | 19 Goodwill Wealth Investment Swiss Asset 1 Gross amount of goodwill (CHF million) Balance at beginning of period 1,300 4,855 480 1,101 7,748 Foreign currency translation impact 31 0 9 41 81 Other (23) 23 0 0 0 Balance at end of period 1,308 4,878 489 1,142 7,829 Accumulated impairment (CHF million) Balance at beginning of period 0 4,855 0 0 4,867 Impairment losses 0 23 0 0 23 Balance at end of period 0 4,878 0 0 4,890 Net book value (CHF million) Net book value 1,308 0 489 1,142 2,939 1 Gross amount of goodwill and accumulated impairment include CHF 12 million related to legacy business transferred to the former Strategic Resolution Unit in 4Q15 and fully written off at the time of transfer, in addition to the divisions disclosed. > Refer to “Note 20 – Goodwill” in III – Condensed consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q22 for further information. |
Other assets and other liabilit
Other assets and other liabilities | 6 Months Ended |
Jun. 30, 2022 | |
Other assets and other liabilities | 21 Other assets and other liabilities end of 2Q22 1Q22 4Q21 Other assets (CHF million) Cash collateral on derivative instruments 9,674 9,262 7,659 Cash collateral on non-derivative transactions 522 412 395 Derivative instruments used for hedging 73 0 212 Assets held-for-sale 7,559 8,679 8,020 of which loans 1 7,515 8,642 7,924 allowance for loans held-for-sale (3) (46) (44) of which real estate 2 44 36 94 of which long-lived assets 0 1 2 Premises, equipment and right-of-use assets 7,448 7,390 7,305 Assets held for separate accounts 96 96 98 Interest and fees receivable 2,959 3,012 2,884 Deferred tax assets 3,867 4,052 3,707 Prepaid expenses 1,259 1,335 509 of which cloud computing arrangement implementation costs 64 56 52 Failed purchases 1,041 1,111 1,307 Defined benefit pension and post-retirement plan assets 4,376 4,306 4,215 Other 5,062 4,732 4,920 of which digital asset safeguarding assets 31 – – Other assets 43,936 44,387 41,231 Other liabilities (CHF million) Cash collateral on derivative instruments 5,065 5,016 5,533 Cash collateral on non-derivative transactions 892 536 528 Derivative instruments used for hedging 4 115 10 Operating leases liabilities 2,536 2,611 2,591 Provisions 2,612 2,187 1,925 of which expected credit losses on off-balance sheet credit exposures 248 255 257 Restructuring liabilities 30 25 19 Liabilities held for separate accounts 96 96 98 Interest and fees payable 3,894 3,823 3,969 Current tax liabilities 641 648 685 Deferred tax liabilities 1,043 793 754 Failed sales 1,731 1,532 1,736 Defined benefit pension and post-retirement plan liabilities 349 351 353 Other 4,169 4,245 4,443 of which digital asset safeguarding liabilities 31 – – Other liabilities 23,062 21,978 22,644 1 Included as of the end of 2Q22 1Q22 4Q21 2 As of the end of 2Q22 1Q22 4Q21 |
Bank | |
Other assets and other liabilities | 20 Other assets and other liabilities end of 6M22 2021 Other assets (CHF million) Cash collateral on derivative instruments 9,674 7,659 Cash collateral on non-derivative transactions 522 395 Derivative instruments used for hedging 73 212 Assets held-for-sale 7,559 8,020 of which loans 1 7,515 7,924 allowance for loans held-for-sale (3) (44) of which real estate 2 44 94 of which long-lived assets 0 2 Premises, equipment and right-of-use assets 6,302 6,140 Assets held for separate accounts 96 98 Interest and fees receivable 2,985 2,934 Deferred tax assets 3,825 3,666 Prepaid expenses 1,113 394 of which cloud computing arrangement implementation costs 58 46 Failed purchases 1,041 1,307 Defined benefit pension and post-retirement plan assets 924 974 Other 5,111 4,916 of which digital asset safeguarding assets 31 – Other assets 39,225 36,715 Other liabilities (CHF million) Cash collateral on derivative instruments 5,102 5,533 Cash collateral on non-derivative transactions 892 528 Derivative instruments used for hedging 4 10 Operating leases liabilities 1,833 1,861 Provisions 2,598 1,912 of which expected credit losses on off-balance sheet credit exposures 248 257 Restructuring liabilities 29 19 Liabilities held for separate accounts 96 98 Interest and fees payable 3,887 3,930 Current tax liabilities 628 671 Deferred tax liabilities 358 122 Failed sales 1,731 1,736 Defined benefit pension and post-retirement plan liabilities 339 343 Other 4,320 4,546 of which digital asset safeguarding liabilities 31 – Other liabilities 21,817 21,309 1 Included as of the end of 6M22 and 2021 were CHF 246 million and CHF 391 million, respectively, in restricted loans, which represented collateral on secured borrowings. 2 As of the end of 6M22 and 2021, real estate held-for-sale included foreclosed or repossessed real estate of CHF 27 million and CHF 8 million, respectively, of which CHF 27 million and CHF 8 million, respectively, were related to residential real estate. |
Long-term debt
Long-term debt | 6 Months Ended |
Jun. 30, 2022 | |
Long-term debt | 22 Long-term debt Long-term debt end of 2Q22 1Q22 4Q21 Long-term debt (CHF million) Senior 135,729 135,746 141,402 Subordinated 20,456 23,099 24,103 Non-recourse liabilities from consolidated VIEs 1,825 1,475 1,391 Long-term debt 158,010 160,320 166,896 of which reported at fair value 66,140 66,270 68,722 of which structured notes 41,893 42,086 43,126 Structured notes by product end of 2Q22 1Q22 4Q21 Structured notes by product (CHF million) Equity 25,595 28,224 28,681 Fixed income 13,524 11,081 11,678 Credit 2,342 2,385 2,363 Other 432 396 404 Total structured notes 41,893 42,086 43,126 |
Bank | |
Long-term debt | 21 Long-term debt Long-term debt end of 6M22 2021 Long-term debt (CHF million) Senior 91,458 95,468 Subordinated 59,065 63,836 Non-recourse liabilities from consolidated VIEs 1,825 1,391 Long-term debt 152,348 160,695 of which reported at fair value 65,276 67,788 of which structured notes 41,893 43,126 Structured notes by product end of 6M22 2021 Structured notes by product (CHF million) Equity 25,595 28,681 Fixed income 13,524 11,678 Credit 2,342 2,363 Other 432 404 Total structured notes 41,893 43,126 |
Accumulated other comprehensive
Accumulated other comprehensive income | 6 Months Ended |
Jun. 30, 2022 | |
Accumulated other comprehensive income | 23 Accumulated other comprehensive income and additional share information Accumulated other comprehensive income/(loss) 1 Gains/ 2Q22 (CHF million) Balance at beginning of period (694) (16,560) 8 (2,644) 348 (1,104) (20,646) Increase/(decrease) (127) 765 (1) 1 0 2,546 3,184 Reclassification adjustments, included in net income/(loss) (123) 0 0 60 (18) 6 (75) Total increase/(decrease) (250) 765 (1) 61 (18) 2,552 3,109 Balance at end of period (944) (15,795) 7 (2,583) 330 1,448 (17,537) 1Q22 (CHF million) Balance at beginning of period (95) (16,739) 13 (2,705) 365 (2,165) (21,326) Increase/(decrease) (601) 179 (5) (1) 0 1,050 622 Reclassification adjustments, included in net income/(loss) 2 0 0 62 (17) 11 58 Total increase/(decrease) (599) 179 (5) 61 (17) 1,061 680 Balance at end of period (694) (16,560) 8 (2,644) 348 (1,104) (20,646) 2Q21 (CHF million) Balance at beginning of period 103 (15,534) 13 (3,662) 432 (2,019) (20,667) Increase/(decrease) (19) (471) 0 (89) 0 (514) (1,093) Reclassification adjustments, included in net income/(loss) (22) 0 0 78 (24) 31 63 Total increase/(decrease) (41) (471) 0 (11) (24) (483) (1,030) Balance at end of period 62 (16,005) 13 (3,673) 408 (2,502) (21,697) 6M22 (CHF million) Balance at beginning of period (95) (16,739) 13 (2,705) 365 (2,165) (21,326) Increase/(decrease) (728) 944 (6) 0 0 3,596 3,806 Reclassification adjustments, included in net income/(loss) (121) 0 0 122 (35) 17 (17) Total increase/(decrease) (849) 944 (6) 122 (35) 3,613 3,789 Balance at end of period (944) (15,795) 7 (2,583) 330 1,448 (17,537) 6M21 (CHF million) Balance at beginning of period 206 (17,528) 13 (3,727) 456 (2,570) (23,150) Increase/(decrease) (110) 1,523 0 (92) 0 (9) 1,312 Reclassification adjustments, included in net income/(loss) (34) 0 0 146 (48) 77 141 Total increase/(decrease) (144) 1,523 0 54 (48) 68 1,453 Balance at end of period 62 (16,005) 13 (3,673) 408 (2,502) (21,697) 1 No impairments on available-for-sale debt securities were recognized in net income/(loss) in 2Q22, 1Q22, 2Q21, 6M22 and 6M21. Details of significant reclassification adjustments in 2Q22 1Q22 2Q21 6M22 6M21 Reclassification adjustments, included in net income/(loss) (CHF million) Actuarial gains/(losses) Amortization of recognized actuarial losses 1 74 76 95 150 178 Tax expense/(benefit) (14) (14) (17) (28) (32) Net of tax 60 62 78 122 146 Net prior service credit/(cost) Amortization of recognized prior service credit/(cost) 1 (22) (21) (29) (43) (59) Tax expense 4 4 5 8 11 Net of tax (18) (17) (24) (35) (48) 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 2Q22 1Q22 2Q21 6M22 6M21 Common shares issued Balance at beginning of period 2,650,747,720 2,650,747,720 2,447,747,720 2,650,747,720 2,447,747,720 Issuance of common shares 0 0 203,000,000 0 203,000,000 Balance at end of period 2,650,747,720 2,650,747,720 2,650,747,720 2,650,747,720 2,650,747,720 Treasury shares Balance at beginning of period (94,644,251) (81,063,211) (83,737,482) (81,063,211) (41,602,841) Sale of treasury shares 514,073,330 578,094,705 510,392,920 1,092,168,035 1,063,124,303 Repurchase of treasury shares (507,466,029) (597,407,387) (514,715,462) (1,104,873,416) (1,114,034,798) Issuance of common shares relating to mandatory convertible notes 0 0 (203,000,000) 0 (203,000,000) Conversion of mandatory convertible notes 0 0 106,805 0 106,805 Share-based compensation 48,048,471 5,731,642 51,473,883 53,780,113 55,927,195 Balance at end of period (39,988,479) (94,644,251) (239,479,336) (39,988,479) (239,479,336) Common shares outstanding Balance at end of period 2,610,759,241 1 2,556,103,469 2 2,411,268,384 2 2,610,759,241 1 2,411,268,384 2 1 At par value CHF 0.04 each, fully paid. In addition to the treasury shares, a maximum of 575,000,000 unissued shares (conditional, conversion and authorized capital) were available for issuance without further approval of the shareholders. 111,524,164 of these shares were reserved for capital instruments. 2 At par value CHF 0.04 each, fully paid. In addition to the treasury shares, a maximum of 450,000,000 unissued shares (conditional, conversion and authorized capital) were available for issuance without further approval of the shareholders. 111,524,164 of these shares were reserved for capital instruments. |
Bank | |
Accumulated other comprehensive income | 22 Accumulated other comprehensive income Accumulated other comprehensive income/(loss) Unrealized 1 Gains/ 6M22 (CHF million) Balance at beginning of period (95) (16,760) 13 (429) (6) (2,082) (19,359) Increase/(decrease) (727) 934 (6) 0 (1) 3,516 3,716 Reclassification adjustments, included in net income/(loss) (121) 0 0 4 1 17 (99) Total increase/(decrease) (848) 934 (6) 4 0 3,533 3,617 Balance at end of period (943) (15,826) 7 (425) (6) 1,451 (15,742) 6M21 (CHF million) Balance at beginning of period 205 (17,517) 13 (460) (11) (2,469) (20,239) Increase/(decrease) (109) 1,473 0 (85) (1) (5) 1,273 Reclassification adjustments, included in net income/(loss) (34) 0 0 0 1 77 44 Total increase/(decrease) (143) 1,473 0 (85) 0 72 1,317 Balance at end of period 62 (16,044) 13 (545) (11) (2,397) (18,922) 1 No impairments on available-for-sale debt securities were recognized in net income/(loss) in 6M22 and 6M21. Details on significant reclassification adjustments in 6M22 6M21 Reclassification adjustments, included in net income/(loss) (CHF million) Actuarial gains/(losses) Amortization of recognized actuarial losses 1 5 (2) Tax expense/(benefit) (1) 2 Net of tax 4 0 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, 2022 | |
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 2Q22 4Q21 Derivative Derivative Derivative Derivative Gross derivatives subject to enforceable master netting agreements (CHF billion) OTC-cleared 12.9 14.8 4.4 4.0 OTC 29.1 26.9 44.4 40.3 Exchange-traded (0.1) 0.0 0.1 0.0 Interest rate products 41.9 41.7 48.9 44.3 OTC-cleared 0.3 0.5 0.2 0.2 OTC 29.8 29.8 20.0 22.0 Exchange-traded 0.1 0.0 0.0 0.0 Foreign exchange products 30.2 30.3 20.2 22.2 OTC 6.5 9.4 8.2 13.0 Exchange-traded 21.8 25.1 22.7 21.4 Equity/index-related products 28.3 34.5 30.9 34.4 OTC-cleared 0.4 0.4 1.3 1.4 OTC 2.9 3.5 3.3 4.3 Credit derivatives 3.3 3.9 4.6 5.7 OTC 1.3 0.6 1.4 0.5 Exchange-traded 0.1 0.1 0.1 0.1 Other products 1 1.4 0.7 1.5 0.6 OTC-cleared 13.6 15.7 5.9 5.6 OTC 69.6 70.2 77.3 80.1 Exchange-traded 21.9 25.2 22.9 21.5 Total gross derivatives subject to enforceable master netting agreements 105.1 111.1 106.1 107.2 Offsetting (CHF billion) OTC-cleared (13.6) (15.3) (5.6) (5.3) OTC (59.4) (62.3) (68.4) (74.6) Exchange-traded (21.9) (22.2) (21.0) (21.0) Offsetting (94.9) (99.8) (95.0) (100.9) of which counterparty netting (84.4) (84.4) (83.0) (83.0) of which cash collateral netting (10.5) (15.4) (12.0) (17.9) Net derivatives presented in the consolidated balance sheets (CHF billion) OTC-cleared 0.0 0.4 0.3 0.3 OTC 10.2 7.9 8.9 5.5 Exchange-traded 0.0 3.0 1.9 0.5 Total net derivatives subject to enforceable master netting agreements 10.2 11.3 11.1 6.3 Total derivatives not subject to enforceable master netting agreements 2 6.0 4.4 6.7 4.3 Total net derivatives presented in the consolidated balance sheets 16.2 15.7 17.8 10.6 of which recorded in trading assets and trading liabilities 16.1 15.7 17.6 10.6 of which recorded in other assets and other liabilities 0.1 0.0 0.2 0.0 1 Primarily precious metals, commodity and energy products. 2 Represents derivatives where a legal opinion supporting the enforceability of netting in the event of default or termination under the agreement is not in place. Reverse repurchase and repurchase agreements and securities lending and borrowing transactions Reverse repurchase and repurchase agreements are generally covered by master repurchase agreements. In certain situations, for example, in the event of default, all contracts under the agreements are terminated and are settled net in one single payment. Master repurchase agreements also include payment or settlement netting provisions in the normal course of business that state that all amounts in the same currency payable by each party to the other under any transaction or otherwise under the master repurchase agreement on the same date shall be set off. As permitted by US GAAP the Group has elected to net transactions under such agreements in the consolidated balance sheet when specific conditions are met. Transactions are netted if, among other conditions, they are executed with the same counterparty, have the same explicit settlement date specified at the inception of the transactions, are settled through the same securities transfer system and are subject to the same enforceable master netting agreement. The amounts offset are measured on the same basis as the underlying transaction (i.e., on an accrual basis or fair value basis). Securities lending and borrowing transactions are generally executed under master securities lending agreements with netting terms similar to ISDA Master Agreements. In certain situations, for example in the event of default, all contracts under the agreement are terminated and are settled net in one single payment. Transactions under these agreements are netted in the consolidated balance sheets if they meet the same right of offset criteria as for reverse repurchase and repurchase agreements. In general, most securities lending and borrowing transactions do not meet the criterion of having the same settlement date specified at inception of the transaction, and therefore they are not eligible for netting in the consolidated balance sheets. However, securities lending and borrowing transactions with explicit maturity dates may be eligible for netting in the consolidated balance sheets. Reverse repurchase and repurchase agreements are collateralized principally by government securities, money market instruments and corporate bonds and have terms ranging from overnight to a longer or unspecified period of time. In the event of counterparty default, the reverse repurchase agreement or securities lending agreement provides the Group with the right to liquidate the collateral held. As is the case in the Group’s normal course of business, a significant portion of the collateral received that may be sold or repledged was sold or repledged as of the end of 2Q22 and 4Q21. 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 2Q22 4Q21 Net Net Securities purchased under resale agreements and securities borrowing transactions (CHF billion) Securities purchased under resale agreements 88.7 (14.3) 74.4 74.1 (16.6) 57.5 Securities borrowing transactions 7.5 0.0 7.5 22.2 0.0 22.2 Total subject to enforceable master netting agreements 96.2 (14.3) 81.9 96.3 (16.6) 79.7 Total not subject to enforceable master netting agreements 1 22.3 – 22.3 24.2 – 24.2 Total 118.5 (14.3) 104.2 2 120.5 (16.6) 103.9 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 82,392 million and CHF 68,623 million of the total net amount as of the end of 2Q22 and 4Q21, 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 2Q22 4Q21 Net Net Securities sold under repurchase agreements and securities lending transactions (CHF billion) Securities sold under repurchase agreements 31.0 (14.3) 16.7 32.2 (16.6) 15.6 Securities lending transactions 0.6 0.0 0.6 15.4 0.0 15.4 Obligation to return securities received as collateral, at fair value 7.3 0.0 7.3 14.7 0.0 14.7 Total subject to enforceable master netting agreements 38.9 (14.3) 24.6 62.3 (16.6) 45.7 Total not subject to enforceable master netting agreements 1 4.4 – 4.4 4.6 – 4.6 Total 43.3 (14.3) 29.0 66.9 (16.6) 50.3 of which securities sold under repurchase agreements and securities lending transactions 35.9 (14.3) 21.6 2 51.9 (16.6) 35.3 2 of which obligation to return securities received as collateral, at fair value 7.4 0.0 7.4 15.0 0.0 15.0 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 14,145 million and CHF 13,213 million of the total net amount as of the end of 2Q22 and 4Q21, 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 2Q22 4Q21 1 Cash 1 1 Cash 1 Financial assets subject to enforceable master netting agreements (CHF billion) Derivatives 10.2 4.6 0.3 5.3 11.1 4.5 0.0 6.6 Securities purchased under resale agreements 74.4 74.2 0.2 0.0 57.5 57.5 0.0 0.0 Securities borrowing transactions 7.5 7.4 0.0 0.1 22.2 21.9 0.0 0.3 Total financial assets subject to enforceable master netting agreements 92.1 86.2 0.5 5.4 90.8 83.9 0.0 6.9 Financial liabilities subject to enforceable master netting agreements (CHF billion) Derivatives 11.3 1.9 0.0 9.4 6.3 1.3 0.0 5.0 Securities sold under repurchase agreements 16.7 16.5 0.2 0.0 15.6 15.5 0.1 0.0 Securities lending transactions 0.6 0.6 0.0 0.0 15.4 15.3 0.0 0.1 Obligation to return securities received as collateral, at fair value 7.3 6.7 0.0 0.6 14.7 13.0 0.0 1.7 Total financial liabilities subject to enforceable master netting agreements 35.9 25.7 0.2 10.0 52.0 45.1 0.1 6.8 1 The total amount reported in financial instruments (recognized financial assets and financial liabilities and non-cash financial collateral) and cash collateral is limited to the amount of the related instruments presented in the consolidated balance sheets and therefore any over-collateralization of these positions is not included. Net exposure is subject to further credit mitigation through the transfer of the exposure to other market counterparties by the use of credit default swaps and credit insurance contracts. Therefore, the net exposure presented in the table above is not representative of the Group’s counterparty exposure. |
Bank | |
Offsetting of financial assets and financial liabilities | 23 Offsetting of financial assets and financial liabilities > Refer to “Note 24 – Offsetting of financial assets and financial liabilities” in III – Condensed consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q22 for further information. Offsetting of derivatives 6M22 2021 Derivative Derivative Derivative Derivative Gross derivatives subject to enforceable master netting agreements (CHF billion) OTC-cleared 12.9 14.8 4.4 4.0 OTC 29.7 26.9 44.5 40.3 Exchange-traded (0.1) 0.0 0.1 0.0 Interest rate products 42.5 41.7 49.0 44.3 OTC-cleared 0.3 0.5 0.2 0.2 OTC 29.8 29.8 20.0 22.0 Exchange-traded 0.1 0.0 0.0 0.0 Foreign exchange products 30.2 30.3 20.2 22.2 OTC 6.5 9.4 8.2 13.0 Exchange-traded 21.8 25.1 22.7 21.4 Equity/index-related products 28.3 34.5 30.9 34.4 OTC-cleared 0.4 0.4 1.3 1.4 OTC 2.9 3.5 3.3 4.3 Credit derivatives 3.3 3.9 4.6 5.7 OTC 1.3 0.6 1.4 0.5 Exchange-traded 0.1 0.1 0.1 0.1 Other products 1 1.4 0.7 1.5 0.6 OTC-cleared 13.6 15.7 5.9 5.6 OTC 70.2 70.2 77.4 80.1 Exchange-traded 21.9 25.2 22.9 21.5 Total gross derivatives subject to enforceable master netting agreements 105.7 111.1 106.2 107.2 Offsetting (CHF billion) OTC-cleared (13.6) (15.3) (5.6) (5.3) OTC (60.0) (62.3) (68.5) (74.6) Exchange-traded (21.9) (22.2) (21.0) (21.0) Offsetting (95.5) (99.8) (95.1) (100.9) of which counterparty netting (84.4) (84.4) (83.0) (83.0) of which cash collateral netting (11.1) (15.4) (12.1) (17.9) Net derivatives presented in the consolidated balance sheets (CHF billion) OTC-cleared 0.0 0.4 0.3 0.3 OTC 10.2 7.9 8.9 5.5 Exchange-traded 0.0 3.0 1.9 0.5 Total net derivatives subject to enforceable master netting agreements 10.2 11.3 11.1 6.3 Total derivatives not subject to enforceable master netting agreements 2 6.0 4.4 6.7 4.3 Total net derivatives presented in the consolidated balance sheets 16.2 15.7 17.8 10.6 of which recorded in trading assets and trading liabilities 16.1 15.7 17.6 10.6 of which recorded in other assets and other liabilities 0.1 0.0 0.2 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 6M22 2021 Net Net Securities purchased under resale agreements and securities borrowing transactions (CHF billion) Securities purchased under resale agreements 88.7 (14.3) 74.4 74.1 (16.6) 57.5 Securities borrowing transactions 7.5 0.0 7.5 22.2 0.0 22.2 Total subject to enforceable master netting agreements 96.2 (14.3) 81.9 96.3 (16.6) 79.7 Total not subject to enforceable master netting agreements 1 22.3 – 22.3 24.2 – 24.2 Total 118.5 (14.3) 104.2 2 120.5 (16.6) 103.9 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 82,392 million and CHF 68,623 million of the total net amount as of the end of 6M22 and 2021, respectively, are reported at fair value. Offsetting of securities sold under repurchase agreements and securities lending transactions 6M22 2021 Net Net Securities sold under repurchase agreements and securities lending transactions (CHF billion) Securities sold under repurchase agreements 31.1 (14.3) 16.8 32.3 (16.6) 15.7 Securities lending transactions 0.6 0.0 0.6 15.4 0.0 15.4 Obligation to return securities received as collateral, at fair value 7.3 0.0 7.3 14.7 0.0 14.7 Total subject to enforceable master netting agreements 39.0 (14.3) 24.7 62.4 (16.6) 45.8 Total not subject to enforceable master netting agreements 1 4.4 – 4.4 4.6 – 4.6 Total 43.4 (14.3) 29.1 67.0 (16.6) 50.4 of which securities sold under repurchase agreements and securities lending transactions 36.0 (14.3) 21.7 2 52.0 (16.6) 35.4 2 of which obligation to return securities received as collateral, at fair value 7.4 0.0 7.4 15.0 0.0 15.0 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 14,239 million and CHF 13,307 million of the total net amount as of the end of 6M22 and 2021, respectively, are reported at fair value. Amounts not offset in the consolidated balance sheets 6M22 2021 1 Cash 1 1 Cash 1 Financial assets subject to enforceable master netting agreements (CHF billion) Derivatives 10.2 4.6 0.3 5.3 11.1 4.5 0.0 6.6 Securities purchased under resale agreements 74.4 74.2 0.2 0.0 57.5 57.5 0.0 0.0 Securities borrowing transactions 7.5 7.4 0.0 0.1 22.2 21.9 0.0 0.3 Total financial assets subject to enforceable master netting agreements 92.1 86.2 0.5 5.4 90.8 83.9 0.0 6.9 Financial liabilities subject to enforceable master netting agreements (CHF billion) Derivatives 11.3 1.9 0.0 9.4 6.3 1.3 0.0 5.0 Securities sold under repurchase agreements 16.8 16.6 0.2 0.0 15.7 15.6 0.1 0.0 Securities lending transactions 0.6 0.6 0.0 0.0 15.4 15.3 0.0 0.1 Obligation to return securities received as collateral, at fair value 7.3 6.7 0.0 0.6 14.7 13.0 0.0 1.7 Total financial liabilities subject to enforceable master netting agreements 36.0 25.8 0.2 10.0 52.1 45.2 0.1 6.8 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, 2022 | |
Tax | 25 Tax The Group previously calculated the provision for income tax expense or benefit during interim reporting periods by applying the estimated annual effective tax rate to the income/loss of the year to date reporting period. However, the historical method could sometimes create distortions in the effective tax rate for the period. Since small changes in the estimated income/loss for 2022 would result in significant changes in the estimated annual effective tax rate, it was concluded the actual year to date effective tax rate to be the best estimate of the annual effective tax rate as permitted by ASC Topic 740 – Income Taxes – Interim Reporting. The Group therefore used a year to date effective tax rate (discrete method) to calculate the 2Q22 income tax expense. The 2Q22 income tax expense of CHF 419 million resulted in an effective tax rate of (35.7)% Net deferred tax assets related to NOL, net deferred tax assets on temporary differences and net deferred tax liabilities are presented in the following manner. Nettable gross deferred tax liabilities are allocated on a pro-rata basis to gross deferred tax assets on NOL and gross deferred tax assets on temporary differences. This approach is aligned with the underlying treatment of netting gross deferred tax assets and liabilities under the Basel framework. Valuation allowances have been allocated against such deferred tax assets on NOL first, with any remainder allocated to such deferred tax assets on temporary differences. This presentation is considered the most appropriate disclosure given the underlying nature of the gross deferred tax balances. As of June 30, 2022, the Group had accumulated undistributed earnings from foreign subsidiaries of CHF 20.1 billion, which are considered indefinitely reinvested. The Group would need to accrue and pay taxes on these undistributed earnings if such earnings were repatriated. No deferred tax liability was recorded in respect of those amounts, as these earnings are considered indefinitely reinvested. It is not practicable to estimate the amount of unrecognized deferred tax liabilities for these undistributed foreign earnings. The Group is currently subject to ongoing tax audits, inquiries and litigation with the tax authorities in a number of jurisdictions, including Brazil, Germany, the US, the UK and Switzerland. Although the timing of completion is uncertain, it is reasonably possible that some of these will be resolved within 12 months of the reporting date. It is reasonably possible that there will be a decrease between zero and CHF 164 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: Switzerland – 2019 (federal and Zurich cantonal level); Brazil – 2017; the UK – 2012, and the US – 2010. Effective tax rate in 2Q22 1Q22 2Q21 6M22 6M21 Effective tax rate (%) (35.7) 35.3 69.6 (16.7) 71.4 Tax expense reconciliation in 2Q22 Income tax expense computed at the Swiss statutory tax rate of 18.5% (CHF million) (217) Increase/(decrease) in income taxes resulting from Foreign tax rate differential (37) Other non-deductible expenses 142 Changes in deferred tax valuation allowance 142 Lower taxed income (31) Income taxable to noncontrolling interests 2 (Windfall tax benefits)/shortfall tax charges on share-based compensation 51 Change in accounting estimate 350 Other 17 Income tax expense 419 Foreign tax rate differential 2Q22 included a foreign tax impact of CHF 37 million, mainly driven by the current period earnings mix. Other non-deductible expenses 2Q22 included the impact of CHF 89 million of non-deductible litigation provisions and CHF 53 million relating to non-deductible interest expenses, the UK bank levy and other non-deductible expenses. Changes in deferred tax valuation allowance 2Q22 included the impact of the current period earnings, resulting in an increase in valuation allowances of CHF 142 million, mainly in respect of one of the Group’s operating entities in Switzerland, two of the Group’s operating entities in the UK and one of the Group’s operating entities in Hong Kong. Lower taxed income 2Q22 primarily included the impact of CHF 17 million related to non-taxable dividend income and CHF 12 million related to non-taxable life insurance income. The remaining balance included various smaller items. Other 2Q22 included the impact of CHF 17 million, which mainly reflected the tax impact of CHF 26 million relating to the current period base erosion and anti-abuse tax provision, CHF 10 million relating to an accounting standard implementation transition adjustment for own credit movements, CHF 6 million relating to dividend equivalents of share-based compensation and CHF 3 million relating to own credit valuation movements. This was partially offset by CHF 26 million relating to withholding taxes. The remaining balance included various smaller items. Net deferred tax assets end of 2Q22 1Q22 Net deferred tax assets (CHF million) Deferred tax assets 3,867 4,052 of which net operating losses 1,124 1,307 of which deductible temporary differences 2,743 2,745 Deferred tax liabilities (1,043) (793) Net deferred tax assets 2,824 3,259 |
Bank | |
Tax | 24 Tax The Bank previously calculated the provision for income tax expense or benefit during interim reporting periods by applying the estimated annual effective tax rate to the income/loss of the year to date reporting period. However, the historical method could sometimes create distortions in the effective tax rate for the period. Since small changes in the estimated income/loss for 2022 would result in significant changes in the estimated annual effective tax rate, it was concluded the actual year to date effective tax rate to be the best estimate of the annual effective tax rate as permitted by ASC Topic 740 – Income Taxes – Interim Reporting. The Bank therefore used a year to date effective tax rate (discrete method) to calculate the 6M22 income tax expense. The 6M22 income tax expense of CHF 221 million resulted in an effective tax rate of (12.6)% Net deferred tax assets related to net operating losses (NOL), net deferred tax assets on temporary differences and net deferred tax liabilities are presented in the following manner. Nettable gross deferred tax liabilities are allocated on a pro-rata basis to gross deferred tax assets on NOL and gross deferred tax assets on temporary differences. This approach is aligned with the underlying treatment of netting gross deferred tax assets and liabilities under the Basel III framework. Valuation allowances have been allocated against such deferred tax assets on NOL first, with any remainder allocated to such deferred tax assets on temporary differences. This presentation is considered the most appropriate disclosure given the underlying nature of the gross deferred tax balances. As of June 30, 2022, the Bank had accumulated undistributed earnings from foreign subsidiaries of CHF 19.6 billion, which are considered indefinitely reinvested. The Bank would need to accrue and pay taxes on these undistributed earnings if such earnings were repatriated. No deferred tax liability was recorded in respect of those amounts, as these earnings are considered indefinitely reinvested. It is not practicable to estimate the amount of unrecognized deferred tax liabilities for these undistributed foreign earnings. The Bank is currently subject to ongoing tax audits, inquiries and litigation with the tax authorities in a number of jurisdictions, including Brazil, Switzerland, the US and the UK. 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 164 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: Switzerland – 2019 (federal and Zurich cantonal level); Brazil – 2017; the UK – 2012, and the US – 2010. Effective tax rate in 6M22 6M21 Effective tax rate (%) (12.6) 40.0 Tax expense reconciliation in 6M22 Income tax expense computed at the Swiss statutory tax rate of 18.5% (CHF million) (324) Increase/(decrease) in income taxes resulting from Foreign tax rate differential 18 Changes in tax law and rates 17 Other non-deductible expenses 253 Changes in deferred tax valuation allowance 250 Lower taxed income (67) (Windfall tax benefits)/shortfall tax charges on share-based compensation 61 Other 13 Income tax expense 221 Foreign tax rate differential 6M22 included a foreign tax impact of CHF 18 million, mainly driven by the current period earnings mix. Changes in tax law and rates 6M22 included the impact of CHF 17 million related to the tax rate change in the UK. Other non-deductible expenses 6M22 included the impact of CHF 157 million of non-deductible litigation provisions and CHF 96 million relating to non-deductible interest expenses, the UK bank levy and other non-deductible costs. Changes in deferred tax valuation allowance 6M22 included the impact of the current period earnings, resulting in an increase in the valuation allowance of CHF 250 million, mainly in respect of one of the Bank’s operating entities in Switzerland, one of the Bank’s operating entities in the UK and one of the Bank’s operating entities in Hong Kong and in Japan. Lower taxed income 6M22 primarily included the impact of CHF 41 million related to non-taxable dividend income and CHF 23 million related to non-taxable life insurance income. The remaining balance included various smaller items. Other 6M22 included a tax expense of CHF 13 million, which mainly reflected the tax impact of CHF 31 million relating to the current year base erosion and anti-abuse tax (BEAT) provision, CHF 22 million relating to an accounting standard implementation transition adjustment for own credit movements, CHF 12 million relating to dividend equivalents of share-based compensation and CHF 5 million relating to withholding taxes. This was partially offset by CHF 20 million relating to prior years’ adjustments and CHF 30 million relating to a reversal of previously unrecognized tax benefits. The remaining balance included various smaller items. Net deferred tax assets end of 6M22 2021 Net deferred tax assets (CHF million) Deferred tax assets 3,825 3,666 of which net operating losses 1,121 877 of which deductible temporary differences 2,704 2,789 Deferred tax liabilities (358) (122) Net deferred tax assets 3,467 3,544 |
Employee deferred compensation
Employee deferred compensation | 6 Months Ended |
Jun. 30, 2022 | |
Employee deferred compensation | 26 Employee deferred compensation The Group’s current and previous deferred compensation plans include share awards, performance share awards, Contingent Capital Awards (CCA), cash awards, retention awards and the Strategic Delivery Plan (SDP) awards. > Refer to “Note 30 – Employee deferred compensation” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2021 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 2Q22 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 2Q22 1Q22 2Q21 6M22 6M21 Deferred compensation expense (CHF million) Share awards 85 94 142 179 276 Performance share awards 47 55 111 102 220 Contingent Capital Awards (9) 34 83 25 144 Cash awards 199 102 102 301 151 Retention awards 33 30 26 63 39 Strategic Delivery Plan 69 53 – 122 – Total deferred compensation expense 424 368 464 792 830 Estimated unrecognized deferred compensation end of 2Q22 Estimated unrecognized compensation expense (CHF million) Share awards 385 Performance share awards 173 Contingent Capital Awards 130 Cash awards 986 Retention awards 206 Strategic Delivery Plan 436 Total 2,316 Aggregate remaining weighted-average requisite service period (years) Aggregate remaining weighted-average requisite service period 1.3 Cash awards Deferred fixed cash awards In 2Q22, the Group granted deferred fixed cash compensation of CHF 207 million to certain employees in the Americas and Asia Pacific. This compensation will be expensed in the Investment Bank division over a three-year vesting period from the grant date. Amortization of deferred fixed cash compensation in 2Q22 totaled CHF 85 million, of which CHF 54 million was related to awards granted in 2Q22. 3Q22 to date, the Group granted deferred fixed cash compensation of up to CHF 40 million to certain employees in the Wealth Management division. This compensation will be expensed in the Wealth Management division over a three-year vesting period from the grant date. Retention awards In 2Q22, the Group granted deferred cash and share retention awards of CHF 12 million, mainly in the Investment Bank division and corporate functions. These awards will be expensed over the applicable vesting period from the grant date. Amortization of retention awards in 2Q22 totaled CHF 33 million, of which CHF 2 million was related to awards granted in 2Q22. 3Q22 to date, the Group granted deferred cash and share retention awards of CHF 289 million to certain employees in the Investment Bank division. This compensation will be expensed in the Investment Bank division over a three-year vesting period from the grant date. Share-based award activity 2Q22 6M22 Performance Strategic Performance Strategic Share-based award activities Balance at beginning of period 170.8 90.0 62.6 143.8 77.2 0.0 Granted 4.7 0.0 0.0 39.2 19.1 62.6 Settled (45.2) (25.1) 0.0 (50.0) (30.2) 0.0 Forfeited (2.5) (0.6) (0.5) (5.2) (1.8) (0.5) Balance at end of period 127.8 64.3 62.1 127.8 64.3 62.1 of which vested 17.6 10.6 1.1 17.6 10.6 1.1 of which unvested 110.2 53.7 61.0 110.2 53.7 61.0 |
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 2Q22 and “Note 29 – Employee deferred compensation” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2021 for further information. Deferred compensation expense in 6M22 6M21 Deferred compensation expense (CHF million) Share awards 171 266 Performance share awards 95 213 Contingent Capital Awards 24 140 Cash awards 291 169 Retention awards 61 39 Strategic Delivery Plan 116 – Total deferred compensation expense 758 827 Estimated unrecognized deferred compensation end of 6M22 Estimated unrecognized compensation expense (CHF million) Share awards 369 Performance share awards 165 Contingent Capital Awards 124 Cash awards 953 Retention awards 203 Strategic Delivery Plan 413 Total 2,227 Aggregate remaining weighted-average requisite service period (years) Aggregate remaining weighted-average requisite service period 1.3 6M22 activity In 6M22, the Bank granted share awards, performance share awards, Contingent Capital Awards (CCA) and upfront cash awards as part of the 2021 deferred variable compensation. Expense recognition for these awards began in 6M22 and will continue over the remaining service or vesting period of each respective award. Share awards In 6M22, the Bank granted 36.3 million share awards at a weighted-average share price of CHF 8.19. 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 material risk takers (MRTs), risk managers MRTs or senior managers or equivalent under the EU or UK Capital Requirements Directive V related provisions. As of February 2022, share awards granted to MRTs vest over four years with one quarter of the award vesting on each of the four anniversaries of the grant date. Share awards granted to risk manager MRTs vest over five years with one fifth of the award vesting on each of the five anniversaries of the grant date. Share awards granted to senior managers vest over seven years, 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 6M22, the Bank granted 18.3 million performance share awards at a weighted-average share price of CHF 8.36. 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 6M22, the Bank awarded CHF 71 million of CCA. CCA are scheduled to vest on the third anniversary of the grant date, other than those granted to individuals classified as MRTs, risk manager MRTs or senior managers or equivalents under the EU or UK Capital Requirements Directive V related provisions. As of February 2022, CCA granted to MRTs, risk manager MRTs and senior managers vest on the fourth, fifth and seventh anniversaries of the grant date, respectively, and will be expensed over the vesting period. Cash awards Deferred fixed cash awards In 6M22, the Bank granted deferred fixed cash compensation of CHF 213 million to certain employees in the Americas and Asia Pacific. This compensation will be expensed in the Investment Bank division over a three-year vesting period from the grant date. Amortization of deferred fixed cash awards in 6M22 totaled CHF 102 million, of which CHF 56 million was related to awards granted in 6M22. 3Q22 to date, the Bank granted deferred fixed cash compensation of up to CHF 40 million to certain employees in the Wealth Management division. This compensation will be expensed in the Wealth Management division over a three-year vesting period from the grant date. Upfront cash awards In 6M22, the Bank granted upfront cash awards of CHF 797 million to certain managing directors and directors as part of their 2021 variable compensation. Amortization of upfront cash awards in 6M22 totaled CHF 178 million, of which CHF 160 million was related to awards granted in 6M22. Retention awards In 6M22, the Bank granted deferred cash and share retention awards of CHF 53 million, mainly in the Investment Bank division. These awards will be expensed over the applicable vesting period from the grant date. Amortization of retention awards in 6M22 totaled CHF 61 million, of which CHF 5 million was related to awards granted in 6M22. 3Q22 to date, the Bank granted deferred cash and share retention awards of CHF 289 million to certain employees in the Investment Bank division. This compensation will be expensed in the Investment Bank division over a three-year vesting period from the grant date. Strategic Delivery Plan In 6M22, the Bank granted 59.4 million SDP deferred share-based awards at a weighted-average share price of CHF 8.50 to most managing directors and directors to incentivize the longer-term delivery of the Group’s strategic plan. Each SDP share award granted entitles the holder of the award to receive one Group share, subject to service conditions and performance-based metrics over the course of 2022-2024. SDP awards are scheduled to vest on the third anniversary of the grant date, with the exception of awards granted to individuals classified as MRTs, risk manager MRTs or senior managers or equivalents under the EU or UK Capital Requirements Directive V related provisions. SDP awards granted to MRTs vest in equal annual installments over two years, commencing on the third anniversary from the grant date. SDP awards granted to risk manager MRTs vest in equal annual installments over three years, while SDP awards granted to senior managers vest in equal annual installments over five years, both commencing on the third anniversary from the grant date. In addition, the Compensation Committee will review and assess the overall success of the delivery of the strategic plan at a Group level over the three-year period (2022-2024) and may increase the SDP awards up to a maximum of 50% of the initial award amount. Share-based award activity 6M22 Performance Strategic Share-based award activities Balance at beginning of period 135.3 73.8 0.0 Granted 36.3 18.3 59.4 Settled (47.0) (29.0) 0.0 Forfeited (5.3) (1.8) (0.6) Balance at end of period 119.3 61.3 58.8 of which vested 15.6 9.9 1.0 of which unvested 103.7 51.4 57.8 |
Pension and other post-retireme
Pension and other post-retirement benefits | 6 Months Ended |
Jun. 30, 2022 | |
Pension and other post-retirement benefits | 27 Pension and other post-retirement benefits The Group sponsors defined contribution pension plans, defined benefit pension plans and other post-retirement defined benefit plans. The Group recognized expenses of CHF 66 million, CHF 63 million, CHF 60 million, CHF 129 million and CHF 130 million, related to its defined contribution pension plans in 2Q22, 1Q22, 2Q21, 6M22 and 6M21, respectively. > Refer to “Note 32 – Pension and other post-retirement benefits” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2021 for further information. The Group previously disclosed that it expected to contribute CHF 284 million to the Swiss and international defined benefit plans and other post-retirement defined benefit plans in 2022. As of the end of 2Q22, CHF 147 million of contributions have been made. Components of net periodic benefit costs in 2Q22 1Q22 2Q21 6M22 6M21 Net periodic benefit costs/(credits) (CHF million) Service costs on benefit obligation 65 65 60 130 120 Interest costs on benefit obligation 25 25 15 50 30 Expected return on plan assets (126) (126) (120) (252) (243) Amortization of recognized prior service cost/(credit) (22) (21) (31) (43) (60) Amortization of recognized actuarial losses 72 73 93 145 186 Settlement losses/(gains) 2 3 2 5 (8) Curtailment losses/(gains) 0 0 2 0 1 Special termination benefits 1 1 3 2 13 Net periodic benefit costs 17 20 24 37 39 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 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 2Q22 and “Note 31 – Pension and other post-retirement benefits” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2021 for further information. The Bank contributed and recognized expenses of CHF 222 million and CHF 243 million related to its defined contribution pension plans in 6M22 and 6M21, respectively. The Bank expects to contribute CHF 14 million to the international single-employer defined benefit pension plans and CHF 11 million to other post-retirement defined benefit plans in 2022. As of the end of 6M22, CHF 7 million and CHF 5 million of contributions had been made to the international single-employer and other post-retirement defined benefit pension plans, respectively. Components of net periodic benefit costs in 6M22 6M21 Net periodic benefit costs/(credits) (CHF million) Service costs on benefit obligation 8 7 Interest costs on benefit obligation 30 25 Expected return on plan assets (33) (34) Amortization of recognized prior service cost/(credit) 1 1 Amortization of recognized actuarial losses 5 8 Settlement losses/(gains) 0 (10) Net periodic benefit costs 11 (3) Service costs on benefit obligation are reflected in compensation and benefits. Other components of net periodic benefit costs are reflected in general and administrative expenses. |
Derivatives and hedging activit
Derivatives and hedging activities | 6 Months Ended |
Jun. 30, 2022 | |
Derivatives and hedging activities | 28 Derivatives and hedging activities > Refer to “Note 33 – Derivatives and hedging activities” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2021 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 2,133.5 4.4 4.3 0.0 0.0 0.0 Swaps 8,950.3 30.9 28.9 122.7 0.1 1.8 Options bought and sold (OTC) 737.8 8.3 8.3 0.0 0.0 0.0 Futures 172.0 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 24.5 0.0 0.0 0.0 0.0 0.0 Interest rate products 12,018.1 43.6 41.5 122.7 0.1 1.8 Forwards 1,027.6 13.5 14.0 19.6 0.4 0.2 Swaps 343.8 14.3 14.0 0.0 0.0 0.0 Options bought and sold (OTC) 181.8 3.1 3.0 0.0 0.0 0.0 Futures 10.0 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 2.3 0.0 0.0 0.0 0.0 0.0 Foreign exchange products 1,565.5 30.9 31.0 19.6 0.4 0.2 Forwards 0.8 0.0 0.0 0.0 0.0 0.0 Swaps 57.9 2.4 2.2 0.0 0.0 0.0 Options bought and sold (OTC) 223.2 7.0 8.5 0.0 0.0 0.0 Futures 46.9 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 488.7 21.8 25.2 0.0 0.0 0.0 Equity/index-related products 817.5 31.2 35.9 0.0 0.0 0.0 Credit derivatives 2 434.4 3.4 4.3 0.0 0.0 0.0 Forwards 10.7 0.1 0.1 0.0 0.0 0.0 Swaps 12.5 1.0 0.6 0.0 0.0 0.0 Options bought and sold (OTC) 12.0 0.3 0.1 0.0 0.0 0.0 Futures 10.6 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 8.6 0.1 0.0 0.0 0.0 0.0 Other products 3 54.4 1.5 0.8 0.0 0.0 0.0 Total derivative instruments 14,889.9 110.6 113.5 142.3 0.5 2.0 The notional amount, PRV and NRV (trading and hedging) was CHF 15,032.2 billion, CHF 111.1 billion and CHF 115.5 billion, respectively, as of June 30, 2022. 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 1,736.0 0.9 0.9 0.0 0.0 0.0 Swaps 8,810.0 36.8 33.0 131.4 0.4 0.2 Options bought and sold (OTC) 779.0 11.5 10.9 0.0 0.0 0.0 Futures 144.5 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 71.6 0.1 0.0 0.0 0.0 0.0 Interest rate products 11,541.1 49.3 44.8 131.4 0.4 0.2 Forwards 1,052.9 7.6 8.2 21.1 0.1 0.1 Swaps 345.3 11.3 12.4 0.0 0.0 0.0 Options bought and sold (OTC) 174.9 2.0 2.2 0.0 0.0 0.0 Futures 10.3 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 1.6 0.0 0.0 0.0 0.0 0.0 Foreign exchange products 1,585.0 20.9 22.8 21.1 0.1 0.1 Forwards 0.9 0.1 0.0 0.0 0.0 0.0 Swaps 94.7 1.4 2.6 0.0 0.0 0.0 Options bought and sold (OTC) 243.9 11.1 12.5 0.0 0.0 0.0 Futures 46.3 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 535.8 22.9 21.5 0.0 0.0 0.0 Equity/index-related products 921.6 35.5 36.6 0.0 0.0 0.0 Credit derivatives 2 506.8 5.0 6.3 0.0 0.0 0.0 Forwards 9.9 0.2 0.1 0.0 0.0 0.0 Swaps 12.0 1.1 0.4 0.0 0.0 0.0 Options bought and sold (OTC) 11.1 0.2 0.1 0.0 0.0 0.0 Futures 11.1 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 9.2 0.1 0.1 0.0 0.0 0.0 Other products 3 53.3 1.6 0.7 0.0 0.0 0.0 Total derivative instruments 14,607.8 112.3 111.2 152.5 0.5 0.3 The notional amount, PRV and NRV (trading and hedging) was CHF 14,760.3 billion, CHF 112.8 billion and CHF 111.5 billion, respectively, as of December 31, 2021. 1 Relates to derivative contracts that qualify for hedge accounting under US GAAP. 2 Primarily credit default swaps. 3 Primarily precious metals, commodity and energy products. Netting of derivative instruments > Refer to “Derivatives” in Note 24 – Offsetting of financial assets and financial liabilities for further information on the netting of derivative instruments. Gains or (losses) on fair value hedges in 2Q22 1Q22 2Q21 6M22 6M21 Interest rate products (CHF million) Hedged items 1 1,115 1,756 (288) 2,871 868 Derivatives designated as hedging instruments 1 (1,050) (1,679) 264 (2,729) (832) The accrued interest on fair value hedges is recorded in net interest income and is excluded from this table. 1 Included in net interest income. Hedged items in fair value hedges 2Q22 4Q21 Hedged items Hedged items Carrying Hedging 1 Discontinued 2 Carrying Hedging 1 Discontinued 2 Assets (CHF billion) Investment securities 0.7 (0.1) 0.0 0.8 0.0 0.0 Net loans 16.5 (1.5) (0.1) 16.6 (0.2) 0.2 Liabilities (CHF billion) Long-term debt 67.1 (2.3) (1.7) 69.4 (0.2) 0.8 1 Relates to the cumulative amount of fair value hedging adjustments included in the carrying amount. 2 Relates to the cumulative amount of fair value hedging adjustments remaining for any hedged items for which hedge accounting has been discontinued. Cash flow hedges in 2Q22 1Q22 2Q21 6M22 6M21 Interest rate products (CHF million) Gains/(losses) recognized in AOCI on derivatives (171) (650) (23) (821) (119) Gains/(losses) reclassified from AOCI into interest and dividend income 173 4 7 177 10 Foreign exchange products (CHF million) Gains/(losses) recognized in AOCI on derivatives (36) (14) 0 (50) 4 Total other operating expenses (16) (6) 15 (22) 25 Gains/(losses) reclassified from AOCI into income (16) (6) 15 (22) 25 As of the end of 2Q22, the maximum length of time over which the Group hedged its exposure to the variability in future cash flows for forecasted transactions, excluding those forecasted transactions related to the payment of variable interest on existing financial instruments, was 12 months. The net loss associated with cash flow hedges expected to be reclassified from AOCI within the next 12 months is CHF 437 million. Net investment hedges in 2Q22 1Q22 2Q21 6M22 6M21 Foreign exchange products (CHF million) Gains/(losses) recognized in the cumulative translation adjustments section of AOCI 68 (122) 7 (54) (255) 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 the maintenance of contractually specified credit ratings from each of the major credit rating agencies. If the ratings fall below the level specified in the contract, the counterparties to the agreement 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 the contractually specified credit ratings. 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 that could be called by counterparties in the event of a one-, two-, or three-notch downgrade in the contractually specified credit ratings. 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 2Q22 4Q21 Special Special Contingent credit risk (CHF billion) Current net exposure 1.6 0.0 0.2 1.8 2.3 0.0 0.3 2.6 Collateral posted 1.3 0.0 – 1.3 1.9 0.0 – 1.9 Impact of a one-notch downgrade event 0.1 0.0 0.0 0.1 0.1 0.0 0.0 0.1 Impact of a two-notch downgrade event 0.5 0.0 0.1 0.6 0.2 0.0 0.0 0.2 Impact of a three-notch downgrade event 0.6 0.1 0.1 0.8 0.7 0.0 0.1 0.8 The impact of a downgrade event reflects the amount of additional collateral required for bilateral counterparties and special purpose entities and the amount of additional termination expenses for accelerated terminations, respectively. Credit derivatives > Refer to “Note 33 – Derivatives and hedging activities” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2021 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 12.0 billion and CHF 12.0 billion as of the end of 2Q22 and 4Q21 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 2Q22 4Q21 1 Net credit Fair value 1 Net credit Fair value Single-name instruments (CHF billion) Investment grade 2 (55.7) 50.7 (5.0) 9.7 0.1 (60.2) 55.6 (4.6) 10.1 0.6 Non-investment grade (25.2) 22.3 (2.9) 7.1 (0.4) (31.5) 28.9 (2.6) 7.9 0.4 Total single-name instruments (80.9) 73.0 (7.9) 16.8 (0.3) (91.7) 84.5 (7.2) 18.0 1.0 of which sovereign (14.0) 12.4 (1.6) 3.9 (0.1) (13.5) 12.2 (1.3) 4.0 (0.1) of which non-sovereign (66.9) 60.6 (6.3) 12.9 (0.2) (78.2) 72.3 (5.9) 14.0 1.1 Multi-name instruments (CHF billion) Investment grade 2 (77.4) 73.0 (4.4) 19.9 (0.2) (102.9) 96.0 (6.9) 20.2 0.7 Non-investment grade (33.7) 29.0 (4.7) 10.4 3 (1.1) (35.7) 33.2 (2.5) 12.6 3 (0.5) Total multi-name instruments (111.1) 102.0 (9.1) 30.3 (1.3) (138.6) 129.2 (9.4) 32.8 0.2 of which non-sovereign (111.1) 102.0 (9.1) 30.3 (1.3) (138.6) 129.2 (9.4) 32.8 0.2 Total instruments (CHF billion) Investment grade 2 (133.1) 123.7 (9.4) 29.6 (0.1) (163.1) 151.6 (11.5) 30.3 1.3 Non-investment grade (58.9) 51.3 (7.6) 17.5 (1.5) (67.2) 62.1 (5.1) 20.5 (0.1) Total instruments (192.0) 175.0 (17.0) 47.1 (1.6) (230.3) 213.7 (16.6) 50.8 1.2 of which sovereign (14.0) 12.4 (1.6) 3.9 (0.1) (13.5) 12.2 (1.3) 4.0 (0.1) of which non-sovereign (178.0) 162.6 (15.4) 43.2 (1.5) (216.8) 201.5 (15.3) 46.8 1.3 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 2Q22 4Q21 Credit derivatives (CHF billion) Credit protection sold 192.0 230.3 Credit protection purchased 175.0 213.7 Other protection purchased 47.1 50.8 Other instruments 1 20.3 12.0 Total credit derivatives 434.4 506.8 1 Consists of total return swaps and other derivative instruments. The segregation of the future payments by maturity range and underlying risk gives an indication of the current status of the potential for performance under the derivative contracts. Maturity of credit protection sold Maturity Maturity Maturity 2Q22 (CHF billion) Single-name instruments 11.8 65.7 3.4 80.9 Multi-name instruments 18.2 83.4 9.5 111.1 Total instruments 30.0 149.1 12.9 192.0 4Q21 (CHF billion) Single-name instruments 14.4 73.6 3.7 91.7 Multi-name instruments 39.9 88.3 10.4 138.6 Total instruments 54.3 161.9 14.1 230.3 |
Bank | |
Derivatives and hedging activities | 27 Derivatives and hedging activities > Refer to “Note 32 – Derivatives and hedging activities” in VIII – Consolidated financial statements– Credit Suisse (Bank) in the Credit Suisse Annual Report 2021 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 2,133.5 4.4 4.3 0.0 0.0 0.0 Swaps 8,959.2 31.5 28.9 118.7 0.1 1.8 Options bought and sold (OTC) 737.8 8.3 8.3 0.0 0.0 0.0 Futures 172.0 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 24.5 0.0 0.0 0.0 0.0 0.0 Interest rate products 12,027.0 44.2 41.5 118.7 0.1 1.8 Forwards 1,027.6 13.5 14.0 19.6 0.4 0.2 Swaps 343.8 14.3 14.0 0.0 0.0 0.0 Options bought and sold (OTC) 181.8 3.1 3.0 0.0 0.0 0.0 Futures 10.0 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 2.3 0.0 0.0 0.0 0.0 0.0 Foreign exchange products 1,565.5 30.9 31.0 19.6 0.4 0.2 Forwards 0.8 0.0 0.0 0.0 0.0 0.0 Swaps 57.9 2.4 2.2 0.0 0.0 0.0 Options bought and sold (OTC) 223.2 7.0 8.5 0.0 0.0 0.0 Futures 46.9 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 488.7 21.8 25.2 0.0 0.0 0.0 Equity/index-related products 817.5 31.2 35.9 0.0 0.0 0.0 Credit derivatives 2 434.4 3.4 4.3 0.0 0.0 0.0 Forwards 10.7 0.1 0.1 0.0 0.0 0.0 Swaps 12.5 1.0 0.6 0.0 0.0 0.0 Options bought and sold (OTC) 12.0 0.3 0.1 0.0 0.0 0.0 Futures 10.6 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 8.6 0.1 0.0 0.0 0.0 0.0 Other products 3 54.4 1.5 0.8 0.0 0.0 0.0 Total derivative instruments 14,898.8 111.2 113.5 138.3 0.5 2.0 The notional amount, PRV and NRV (trading and hedging) was CHF 15,037.1 billion, CHF 111.7 billion and CHF 115.5 billion, respectively, as of June 30, 2022. 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 1,736.0 0.9 0.9 0.0 0.0 0.0 Swaps 8,818.8 36.9 33.0 127.5 0.4 0.2 Options bought and sold (OTC) 779.0 11.5 10.9 0.0 0.0 0.0 Futures 144.5 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 71.6 0.1 0.0 0.0 0.0 0.0 Interest rate products 11,549.9 49.4 44.8 127.5 0.4 0.2 Forwards 1,052.9 7.6 8.2 21.1 0.1 0.1 Swaps 345.3 11.3 12.4 0.0 0.0 0.0 Options bought and sold (OTC) 174.9 2.0 2.2 0.0 0.0 0.0 Futures 10.3 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 1.6 0.0 0.0 0.0 0.0 0.0 Foreign exchange products 1,585.0 20.9 22.8 21.1 0.1 0.1 Forwards 0.9 0.1 0.0 0.0 0.0 0.0 Swaps 94.7 1.4 2.6 0.0 0.0 0.0 Options bought and sold (OTC) 243.9 11.1 12.5 0.0 0.0 0.0 Futures 46.3 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 535.8 22.9 21.5 0.0 0.0 0.0 Equity/index-related products 921.6 35.5 36.6 0.0 0.0 0.0 Credit derivatives 3 506.8 5.0 6.3 0.0 0.0 0.0 Forwards 9.9 0.2 0.1 0.0 0.0 0.0 Swaps 12.0 1.1 0.4 0.0 0.0 0.0 Options bought and sold (OTC) 11.1 0.2 0.1 0.0 0.0 0.0 Futures 11.1 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 9.2 0.1 0.1 0.0 0.0 0.0 Other products 4 53.3 1.6 0.7 0.0 0.0 0.0 Total derivative instruments 14,616.6 112.4 111.2 148.6 0.5 0.3 The notional amount, PRV and NRV (trading and hedging) was CHF 14,765.2 billion, CHF 112.9 billion and CHF 111.5 billion, respectively, as of December 31, 2021. 1 Relates to derivative contracts that qualify for hedge accounting under US GAAP. 2 Prior period has been revised. 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 in 6M22 6M21 Interest rate products (CHF million) Hedged items 1 2,508 776 Derivatives designated as hedging instruments 1 (2,370) (740) The accrued interest on fair value hedges is recorded in net interest income and is excluded from this table. 1 Included in net interest income. Hedged items in fair value hedges 6M22 2021 Hedged items Hedged items Carrying Hedging 1 Discontinued 2 Carrying Hedging 1 Discontinued 2 Assets (CHF billion) Investment securities 0.7 (0.1) 0.0 0.8 0.0 0.0 Net loans 16.5 (1.5) (0.1) 16.6 (0.2) 0.2 Liabilities (CHF billion) Long-term debt 63.4 (2.0) (1.4) 65.6 (0.1) 0.8 1 Relates to the cumulative amount of fair value hedging adjustments included in the carrying amount. 2 Relates to the cumulative amount of fair value hedging adjustments remaining for any hedged items for which hedge accounting has been discontinued. Cash flow hedges in 6M22 6M21 Interest rate products (CHF million) Gains/(losses) recognized in AOCI on derivatives (821) (119) Gains/(losses) reclassified from AOCI into interest and dividend income 177 10 Foreign exchange products (CHF million) Gains/(losses) recognized in AOCI on derivatives (50) 4 Total other operating expenses (22) 25 Gains/(losses) reclassified from AOCI into income (22) 25 1 Related to the forward points of a foreign currency forward. As of the end of 6M22, the maximum length of time over which the Bank hedged its exposure to the variability in future cash flows for forecasted transactions, excluding those forecasted transactions related to the payment of variable interest on existing financial instruments, was 12 months. The net loss associated with cash flow hedges expected to be reclassified from accumulated other comprehensive income (AOCI) within the next 12 months was CHF 437 million. Net investment hedges in 6M22 6M21 Foreign exchange products (CHF million) Gains/(losses) recognized in the cumulative translation adjustments section of AOCI (57) (248) 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 that could be called by counterparties in the event of a one-, two-, or three-notch downgrade in the contractually specified credit ratings. 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 6M22 2021 Special Special Contingent credit risk (CHF billion) Current net exposure 1.6 0.0 0.2 1.8 2.3 0.0 0.3 2.6 Collateral posted 1.3 0.0 – 1.3 1.9 0.0 – 1.9 Impact of a one-notch downgrade event 0.1 0.0 0.0 0.1 0.1 0.0 0.0 0.1 Impact of a two-notch downgrade event 0.5 0.0 0.1 0.6 0.2 0.0 0.0 0.2 Impact of a three-notch downgrade event 0.6 0.1 0.1 0.8 0.7 0.0 0.1 0.8 The impact of a downgrade event reflects the amount of additional collateral required for bilateral counterparties and special purpose entities and the amount of additional termination expenses for accelerated terminations, respectively. Credit derivatives > Refer to “Note 32 – Derivatives and hedging activities” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2021 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 12.0 billion and CHF 12.0 billion as of the end of 6M22 and 2021, 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 6M22 2021 1 Net credit Fair value 1 Net credit Fair value Single-name instruments (CHF billion) Investment grade 2 (55.7) 50.7 (5.0) 9.7 0.1 (60.2) 55.6 (4.6) 10.1 0.6 Non-investment grade (25.2) 22.3 (2.9) 7.1 (0.4) (31.5) 28.9 (2.6) 7.9 0.4 Total single-name instruments (80.9) 73.0 (7.9) 16.8 (0.3) (91.7) 84.5 (7.2) 18.0 1.0 of which sovereign (14.0) 12.4 (1.6) 3.9 (0.1) (13.5) 12.2 (1.3) 4.0 (0.1) of which non-sovereign (66.9) 60.6 (6.3) 12.9 (0.2) (78.2) 72.3 (5.9) 14.0 1.1 Multi-name instruments (CHF billion) Investment grade 2 (77.4) 73.0 (4.4) 19.9 (0.2) (102.9) 96.0 (6.9) 20.2 0.7 Non-investment grade (33.7) 29.0 (4.7) 10.4 3 (1.1) (35.7) 33.2 (2.5) 12.6 3 (0.5) Total multi-name instruments (111.1) 102.0 (9.1) 30.3 (1.3) (138.6) 129.2 (9.4) 32.8 0.2 of which non-sovereign (111.1) 102.0 (9.1) 30.3 (1.3) (138.6) 129.2 (9.4) 32.8 0.2 Total instruments (CHF billion) Investment grade 2 (133.1) 123.7 (9.4) 29.6 (0.1) (163.1) 151.6 (11.5) 30.3 1.3 Non-investment grade (58.9) 51.3 (7.6) 17.5 (1.5) (67.2) 62.1 (5.1) 20.5 (0.1) Total instruments (192.0) 175.0 (17.0) 47.1 (1.6) (230.3) 213.7 (16.6) 50.8 1.2 of which sovereign (14.0) 12.4 (1.6) 3.9 (0.1) (13.5) 12.2 (1.3) 4.0 (0.1) of which non-sovereign (178.0) 162.6 (15.4) 43.2 (1.5) (216.8) 201.5 (15.3) 46.8 1.3 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 6M22 2021 Credit derivatives (CHF billion) Credit protection sold 192.0 230.3 Credit protection purchased 175.0 213.7 Other protection purchased 47.1 50.8 Other instruments 1 20.3 12.0 Total credit derivatives 434.4 506.8 1 Consists of total return swaps and other derivative instruments. Maturity of credit protection sold Maturity Maturity Maturity 6M22 (CHF billion) Single-name instruments 11.8 65.7 3.4 80.9 Multi-name instruments 18.2 83.4 9.5 111.1 Total instruments 30.0 149.1 12.9 192.0 2021 (CHF billion) Single-name instruments 14.4 73.6 3.7 91.7 Multi-name instruments 39.9 88.3 10.4 138.6 Total instruments 54.3 161.9 14.1 230.3 |
Guarantees and commitments
Guarantees and commitments | 6 Months Ended |
Jun. 30, 2022 | |
Guarantees and commitments | 29 Guarantees and commitments Guarantees In the ordinary course of business, guarantees are provided that contingently obligate the Group to make payments to third parties if the counterparty fails to fulfill its obligation under a borrowing or other contractual arrangement. The total gross amount disclosed within the Guarantees table reflects the maximum potential payment under the guarantees. The carrying value represents the higher of the initial fair value (generally the related fee received or receivable) less cumulative amortization and the Group’s current best estimate of payments that will be required under existing guarantee arrangements. Guarantees provided by the Group are classified as follows: credit guarantees and similar instruments, performance guarantees and similar instruments, derivatives and other guarantees. > Refer to “Guarantees” in VI – Consolidated financial statements – Credit Suisse Group – Note 34 – Guarantees and commitments in the Credit Suisse Annual Report 2021 for a detailed description of guarantees. Guarantees Maturity Maturity Total Total 1 2Q22 (CHF million) Credit guarantees and similar instruments 2,306 1,494 3,800 3,722 25 2,070 Performance guarantees and similar instruments 4,826 3,061 7,887 6,613 44 3,943 Derivatives 2 5,884 2,634 8,518 8,518 145 – 3 Other guarantees 4,283 2,221 6,504 6,494 71 3,650 Total guarantees 17,299 9,410 26,709 25,347 285 9,663 4Q21 (CHF million) Credit guarantees and similar instruments 2,124 1,807 3,931 3,874 25 2,014 Performance guarantees and similar instruments 3,982 3,336 7,318 6,299 40 3,605 Derivatives 2 5,374 3,547 8,921 8,921 289 – 3 Other guarantees 4,012 2,498 6,510 6,469 71 3,789 Total guarantees 15,492 11,188 26,680 25,563 425 9,408 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 6.0 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, 2021 to June 30, 2022 was CHF 0.5 billion. These deposit insurance guarantees were reflected in other guarantees. These deposit insurance guarantees were reflected in other guarantees. For the period July 1, 2022 to June 30, 2023, the Group’s share in the deposit insurance guarantee program based on FINMA’s estimate will be CHF 0.5 billon. Representations and warranties on residential mortgage loans sold In connection with the Investment Bank division’s sale of US residential mortgage loans, the Group has provided certain representations and warranties relating to the loans sold. The Group has provided these representations and warranties relating to sales of loans to institutional investors, primarily banks, and non-agency, or private label, securitizations. The loans sold are primarily loans that the Group has purchased from other parties. The scope of representations and warranties, if any, depends on the transaction, but can include: ownership of the mortgage loans and legal capacity to sell the loans; loan-to-value ratios and other characteristics of the property, the borrower and the loan; validity of the liens securing the loans and absence of delinquent taxes or related liens; conformity to underwriting standards and completeness of documentation; and origination in compliance with law. If it is determined that representations and warranties were breached, the Group may be required to repurchase the related loans or indemnify the investors to make them whole for losses. Whether the Group will incur a loss in connection with repurchases and make whole payments depends on: the extent to which claims are made; the validity of such claims made within the statute of limitations (including the likelihood and ability to enforce claims); whether the Group can successfully claim against parties that sold loans to the Group and made representations and warranties to the Group; the residential real estate market, including the number of defaults; and whether the obligations of the securitization vehicles were guaranteed or insured by third parties. Repurchase claims on residential mortgage loans sold that are subject to arbitration or litigation proceedings, or become so during the reporting period, are not included in this Guarantees and commitments disclosure but are addressed in litigation and related loss contingencies and provisions. The Group is involved in litigation relating to representations and warranties on residential mortgages sold. > Refer to “Note 33 – Litigation” for further information. Disposal-related contingencies and other indemnifications The Group has certain guarantees for which its maximum contingent liability cannot be quantified. These guarantees include disposal-related contingencies in connection with the sale of assets or businesses, and other indemnifications. These guarantees are not reflected in the “Guarantees” table. > Refer to “Disposal-related contingencies and other indemnifications” in VI – Consolidated financial statements – Credit Suisse Group – Note 34 – Guarantees and commitments in the Credit Suisse Annual Report 2021 for a description of these guarantees. Other commitments Other commitments of the Group are classified as follows: irrevocable commitments under documentary credits, irrevocable loan commitments, forward reverse repurchase agreements and other commitments. > Refer to “Other commitments” in VI – Consolidated financial statements – Credit Suisse Group – Note 34 – Guarantees and commitments in the Credit Suisse Annual Report 2021 for a description of these commitments. Other commitments 2Q22 4Q21 Maturity Maturity Total Total 1 Maturity Maturity Total Total 1 Other commitments (CHF million) Irrevocable commitments under documentary credits 5,069 41 5,110 4,781 3,153 4,796 116 4,912 4,602 2,801 Irrevocable loan commitments 2 24,326 97,182 121,508 117,542 54,120 22,959 99,600 122,559 118,281 55,766 Forward reverse repurchase agreements 239 0 239 239 239 466 0 466 466 466 Other commitments 133 287 420 420 4 121 275 396 396 8 Total other commitments 29,767 97,510 127,277 122,982 57,516 28,342 99,991 128,333 123,745 59,041 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 139,405 million and CHF 143,992 million of unused credit limits as of the end of 2Q22 and 4Q21, 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 2Q22 and to “Note 33 – Guarantees and commitments” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2021 for further information. Guarantees Maturity Maturity 1 6M22 (CHF million) Credit guarantees and similar instruments 2,310 1,491 3,801 3,723 25 2,070 Performance guarantees and similar instruments 4,826 3,061 7,887 6,613 44 3,943 Derivatives 2 5,884 2,634 8,518 8,518 145 – 3 Other guarantees 4,283 2,249 6,532 6,522 71 3,650 Total guarantees 17,303 9,435 26,738 25,376 285 9,663 2021 (CHF million) Credit guarantees and similar instruments 2,124 1,807 3,931 3,874 25 2,014 Performance guarantees and similar instruments 3,982 3,336 7,318 6,299 40 3,605 Derivatives 2 5,374 3,547 8,921 8,921 289 – 3 Other guarantees 4,012 2,498 6,510 6,469 71 3,789 Total guarantees 15,492 11,188 26,680 25,563 425 9,408 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 6.0 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, 2021 to June 30, 2022 was CHF 0.5 billion. These deposit insurance guarantees were reflected in other guarantees. For the period July 1, 2022 to June 30, 2023, the Bank’s share in the 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 2Q22 and to “Note 33 – Guarantees and commitments” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2021 for further information. Other commitments 6M22 2021 Maturity Maturity 1 Maturity Maturity 1 Other commitments (CHF million) Irrevocable commitments under documentary credits 5,069 41 5,110 4,781 3,153 4,796 116 4,912 4,602 2,801 Irrevocable loan commitments 24,326 97,182 121,508 2 117,542 54,120 22,959 99,600 122,559 2 118,281 55,766 Forward reverse repurchase agreements 239 0 239 239 239 466 0 466 466 466 Other commitments 133 287 420 420 4 121 275 396 396 8 Total other commitments 29,767 97,510 127,277 122,982 57,516 28,342 99,991 128,333 123,745 59,041 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 139,485 million and CHF 144,079 million of unused credit limits as of the end of 6M22 and 2021, respectively, which were revocable at the Bank's sole discretion upon notice to the client. |
Transfers of financial assets a
Transfers of financial assets and variable interest entities | 6 Months Ended |
Jun. 30, 2022 | |
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 paper (CP) and other notes of indebtedness. These assets and liabilities are recorded on the balance sheet of the SPE and not reflected on the Group’s consolidated balance sheet, unless either the Group sold the assets to the entity and the accounting requirements for sale were not met or the Group consolidates the SPE. The Group purchases commercial and residential mortgages for the purpose of securitization and sells these mortgage loans to SPEs. These SPEs issue commercial mortgage-backed securities (CMBS), residential mortgage-backed securities (RMBS) and asset-backed securities (ABS) that are collateralized by the assets transferred to the SPE and that pay a return based on the returns on those assets. Investors in these mortgage-backed securities or ABS typically have recourse to the assets in the SPEs. Third-party guarantees may further enhance the creditworthiness of the assets. The investors and the SPEs have no recourse to the Group’s assets. The Group is typically an underwriter of, and makes a market in, these securities. The Group also transacts in re-securitizations of previously issued RMBS. Typically, certificates issued out of an existing securitization vehicle are sold into a newly created and separate securitization vehicle. Often, these re-securitizations are initiated in order to re-securitize an existing security to give the investor an investment with different risk ratings or characteristics. The Group also uses SPEs for other asset-backed financings relating to client-driven activity and for Group tax or regulatory purposes. Types of structures included in this category include managed 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 6M22 and 6M21 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 6M22 6M21 Gains/(losses) and cash flows (CHF million) CMBS Net gain 1 5 0 Proceeds from transfer of assets 2,819 999 Cash received on interests that continue to be held 22 26 RMBS Net gain/(loss) 1 (1) 62 Proceeds from transfer of assets 6,799 20,876 Purchases of previously transferred financial assets or its underlying collateral 0 (1,072) Servicing fees 0 1 Cash received on interests that continue to be held 531 430 Other asset-backed financings Net gain 1 23 47 Proceeds from transfer of assets 3,808 6,802 Purchases of previously transferred financial assets or its underlying collateral (997) (699) Fees 2 97 81 Cash received on interests that continue to be held 36 7 1 Includes underwriting revenues, deferred origination fees, gains or losses on the sale of collateral to the SPE and gains or losses on the sale of newly issued securities to third parties, but excludes net interest income on assets prior to the securitization. The gains or losses on the sale of the collateral is the difference between the fair value on the day prior to the securitization pricing date and the sale price of the loans. 2 Represents management fees and performance fees earned for investment management services provided to managed CLOs. Continuing involvement in transferred financial assets The Group may have continuing involvement in the financial assets that are transferred to an SPE, which may take several forms, including, but not limited to, servicing, recourse and guarantee arrangements, agreements to purchase or redeem transferred assets, derivative instruments, pledges of collateral and beneficial interests in the transferred assets. > Refer to “Transfers of financial assets” in VI – Consolidated financial statements – Credit Suisse Group – Note 35 – Transfers of financial assets and variable interest entities in the Credit Suisse Annual Report 2021 for further information. 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 2Q22 and 4Q21, regardless of when the transfer of assets occurred. Principal amounts outstanding and total assets of SPEs resulting from continuing involvement end of 2Q22 4Q21 CHF million CMBS Principal amount outstanding 20,202 15,428 Total assets of SPE 38,723 23,205 RMBS Principal amount outstanding 49,342 56,990 Total assets of SPE 49,342 56,990 Other asset-backed financings Principal amount outstanding 23,514 24,856 Total assets of SPE 56,511 57,797 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 6M22 6M21 at time of transfer, in CMBS RMBS CMBS RMBS CHF million, except where indicated Fair value of beneficial interests 252 548 92 1,337 of which level 2 191 480 82 1,019 of which level 3 61 68 10 318 Weighted-average life, in years 5.4 10.9 7.4 5.0 Prepayment speed assumption (rate per annum), in % 1 – 2 5.0 – 22.2 – 2 3.0 – 32.8 Cash flow discount rate (rate per annum), in % 3 3.5 – 10.3 2.8 – 43.6 1.8 – 4.5 1.0 – 15.4 Expected credit losses (rate per annum), in % 4 2.7 – 5.6 1.3 – 41.1 0.9 – 3.9 0.1 – 13.7 Transfers of assets in which the Group does not have beneficial interests are not included in this table. 1 Prepayment speed assumption (PSA) is an industry standard prepayment speed metric used for projecting prepayments over the life of a residential mortgage loan. PSA utilizes the constant prepayment rate (CPR) assumptions. A 100% prepayment assumption assumes a prepayment rate of 0.2% per annum of the outstanding principal balance of mortgage loans in the first month. This increases by 0.2 percentage points thereafter during the term of the mortgage loan, leveling off to a CPR of 6% per annum beginning in the 30th month and each month thereafter during the term of the mortgage loan. 100 PSA equals 6 CPR. 2 To deter prepayment, commercial mortgage loans typically have prepayment protection in the form of prepayment lockouts and yield maintenances. 3 The rate 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 2Q22 and 4Q21. Key economic assumptions used in measuring fair value of beneficial interests held in SPEs 2Q22 4Q21 1 Other asset- 2 1 Other asset- 2 CHF million, except where indicated Fair value of beneficial interests 478 1,563 549 281 2,310 402 of which non-investment grade 96 270 75 55 370 27 Weighted-average life, in years 3.5 8.7 5.2 3.9 4.7 5.5 Prepayment speed assumption (rate per annum), in % 3 – 4.0 – 22.9 – – 5.1 – 41.9 – Impact on fair value from 10% adverse change – (30.4) – – (31.1) – Impact on fair value from 20% adverse change – (59.6) – – (59.8) – Cash flow discount rate (rate per annum), in % 4 4.2 – 41.9 2.1 – 38.4 1.2 – 52.0 1.7 – 50.7 0.7 – 35.5 0.3 – 14.7 Impact on fair value from 10% adverse change (7.0) (53.8) (8.6) (3.5) (38.1) (4.9) Impact on fair value from 20% adverse change (13.8) (103.5) (16.9) (6.8) (73.3) (9.7) Expected credit losses (rate per annum), in % 5 1.2 – 13.2 0.3 – 35.3 0.6 – 49.9 0.6 – 8.4 0.4 – 34.2 0.7 – 13.3 Impact on fair value from 10% adverse change (3.7) (27.6) (5.5) (2.5) (28.5) (4.3) Impact on fair value from 20% adverse change (7.4) (53.7) (10.8) (4.9) (54.8) (8.4) 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 2Q22 and 4Q21. > 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 2Q22 4Q21 CHF million RMBS Other assets 0 257 Liability to SPE, included in other liabilities 0 (257) Other asset-backed financings Trading assets 500 557 Other assets 178 200 Liability to SPE, included in other liabilities (678) (757) 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 2Q22 and 4Q21. Securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral – by class of collateral pledged end of 2Q22 4Q21 CHF billion Government debt securities 19.2 15.9 Corporate debt securities 9.7 9.6 Asset-backed securities 2.3 4.6 Equity securities 0.3 0.5 Other 3.6 5.6 Securities sold under repurchase agreements 35.1 36.2 Government debt securities 0.2 13.9 Corporate debt securities 0.2 0.3 Asset-backed securities 0.0 0.3 Equity securities 0.2 1.0 Other 0.2 0.2 Securities lending transactions 0.8 15.7 Government debt securities 3.7 3.6 Corporate debt securities 0.8 0.6 Asset-backed securities 0.1 0.0 Equity securities 2.8 10.8 Obligation to return securities received as collateral, at fair value 7.4 15.0 Total 43.3 66.9 Securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral – by remaining contractual maturity Remaining contractual maturities No stated 1 Up to 2 31–90 More than 2Q22 (CHF billion) Securities sold under repurchase agreements 6.0 18.9 3.3 6.9 35.1 Securities lending transactions 0.7 0.0 0.0 0.1 0.8 Obligation to return securities received as collateral, at fair value 7.4 0.0 0.0 0.0 7.4 Total 14.1 18.9 3.3 7.0 43.3 4Q21 (CHF billion) Securities sold under repurchase agreements 5.2 15.7 6.0 9.3 36.2 Securities lending transactions 2.3 1.7 1.6 10.1 15.7 Obligation to return securities received as collateral, at fair value 15.0 0.0 0.0 0.0 15.0 Total 22.5 17.4 7.6 19.4 66.9 1 Includes contracts with no contractual maturity that may contain termination arrangements subject to a notice period. 2 Includes overnight transactions. > Refer to “Note 24 – Offsetting of financial assets and financial liabilities” for further information on the gross amount of securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral and the net amounts disclosed in the consolidated balance sheets. Variable interest entities As a normal part of its business, the Group engages in various transactions that include entities that are considered variable interest entities (VIEs) and are grouped into three primary categories: collateralized debt obligations (CDOs)/CLOs, CP conduits and financial intermediation. > Refer to “Variable interest entities” in VI – Consolidated financial statements – Credit Suisse Group – Note 35 – Transfers of financial assets and variable interest entities in the Credit Suisse Annual Report 2021 for a detailed description of VIEs, CDO/CLOs, CP conduit or financial intermediation. Collateralized debt and loan obligations The Group engages in CDO/CLO transactions to meet client and investor needs, earn fees and sell financial assets and, in the case of CLOs, loans. The Group may act as underwriter, placement agent or asset manager and may warehouse assets prior to the closing of a transaction. Commercial paper conduit The Group acts as the administrator and provider of liquidity and credit enhancement facilities for Alpine Securitization Ltd (Alpine), a multi-seller asset-backed CP conduit used for client and Group financing purposes. Alpine discloses to CP investors certain portfolio and asset data and submits its portfolio to rating agencies for public ratings on its CP. This CP conduit purchases assets such as loans and receivables or enters into reverse repurchase agreements and finances such activities through the issuance of CP backed by these assets. In addition to CP, Alpine may also issue term notes with maturities up to 30 months. The Group (including Alpine) can enter into liquidity facilities with third-party entities pursuant to which it may be required to purchase assets from these entities to provide them with liquidity and credit support. The financing transactions are structured to provide credit support in the form of over-collateralization and other asset-specific enhancements. Alpine is a separate legal entity that is wholly owned by the Group. However, its assets are available to satisfy only the claims of its creditors. In addition, the Group, as administrator and liquidity facility provider, has significant exposure to and power over the activities of Alpine. Alpine is considered a VIE for accounting purposes and the Group is deemed the primary beneficiary and consolidates this entity. The overall average maturity of Alpine’s outstanding CP was approximately 174 days as of the end of 2Q22. Alpine’s CP is 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, solar loans and leases, consumer loans and aircraft loans and leases. The Group’s financial commitment to this CP conduit consists of obligations under liquidity agreements. The liquidity agreements are asset-specific arrangements, which require the Group to provide short-term financing to the CP conduit or to purchase assets from the CP conduit in certain circumstances, including, but not limited to, a lack of liquidity in the CP market such that the CP conduit cannot refinance its obligations or a default of an underlying asset. The asset-specific credit enhancements provided by the client seller of the assets remain unchanged as a result of such a purchase. In entering into such agreements, the Group reviews the credit risk associated with these transactions on the same basis that would apply to other extensions of credit. The Group enters into liquidity facilities with CP conduits administrated and sponsored by third parties. These third-party CP conduits are considered to be VIEs for accounting purposes. The Group is not the primary beneficiary and does not consolidate these third-party CP conduits. The Group’s financial commitment to these third-party CP conduits consists of obligations under liquidity agreements. The liquidity agreements are asset-specific arrangements, which require the Group to provide short-term financing to the third-party CP conduits or to purchase assets from these CP conduits in certain circumstances, including, but not limited to, a lack of liquidity in the CP market such that the CP conduits cannot refinance their obligations or a default of an underlying asset. The asset-specific credit enhancements, if any, provided by the client seller of the assets remain unchanged as a result of such a purchase. In entering into such agreements, the Group reviews the credit risk associated with these transactions on the same basis that would apply to other extensions of credit. In some situations, the Group can enter into liquidity facilities with these third-party CP conduits through Alpine. The Group’s economic risks associated with the Alpine CP conduit and the third-party CP conduits are included in the Group’s risk management framework including counterparty, economic risk capital and scenario analysis. Financial intermediation The Group has significant involvement with VIEs in its role as a financial intermediary on behalf of clients. Financial intermediation consists of securitizations, funds, loans and other vehicles. Consolidated VIEs The Group has significant involvement with VIEs in its role as a financial intermediary on behalf of clients. The Group consolidates all VIEs related to financial intermediation for which it is the primary beneficiary. The consolidated VIEs table provides the carrying amounts and classifications of the assets and liabilities of consolidated VIEs as of the end of 2Q22 and 4Q21. Consolidated VIEs in which the Group was the primary beneficiary Financial intermediation CDO/ CP Securi- 2Q22 (CHF million) Cash and due from banks 15 0 46 11 23 15 110 Trading assets 1 0 1,281 42 477 0 1,801 Other investments 0 0 0 69 685 141 895 Net loans 0 1,274 0 0 16 33 1,323 Other assets 250 29 886 49 113 682 2,009 of which loans held-for-sale 249 0 72 25 0 0 346 of which premises and equipment 0 0 0 0 26 0 26 Total assets of consolidated VIEs 266 1,303 2,213 171 1,314 871 6,138 Trading liabilities 3 0 0 0 10 0 13 Short-term borrowings 0 4,620 0 15 0 0 4,635 Long-term debt 34 0 1,750 0 0 41 1,825 Other liabilities 0 88 2 21 58 54 223 Total liabilities of consolidated VIEs 37 4,708 1,752 36 68 95 6,696 4Q21 (CHF million) Cash and due from banks 0 1 42 25 27 13 108 Trading assets 0 0 1,158 54 610 0 1,822 Other investments 0 0 0 65 789 161 1,015 Net loans 0 1,022 317 0 28 33 1,400 Other assets 0 31 604 78 108 675 1,496 of which loans held-for-sale 0 0 50 23 0 1 74 of which premises and equipment 0 0 0 0 27 0 27 Total assets of consolidated VIEs 0 1,054 2,121 222 1,562 882 5,841 Trading liabilities 0 0 0 0 8 0 8 Short-term borrowings 0 4,337 0 15 0 0 4,352 Long-term debt 0 0 1,342 0 3 46 1,391 Other liabilities 0 67 1 20 60 83 231 Total liabilities of consolidated VIEs 0 4,404 1,343 35 71 129 5,982 Non-consolidated VIEs The non-consolidated VIEs table provides the carrying amounts and classification of the assets of variable interests recorded in the Group’s consolidated balance sheets, maximum exposure to loss and total assets of the non-consolidated VIEs. Certain VIEs have not been included in the following table, including VIEs structured by third parties in which the Group’s interest is in the form of securities held in the Group’s inventory, certain repurchase financings to funds and single-asset financing vehicles not sponsored by the Group to which the Group provides financing but has very little risk of loss due to over-collateralization and/or guarantees, failed sales where the Group does not have any other holdings and other entities out of scope. > Refer to “Variable interest entities” in VI – Consolidated financial statements – Credit Suisse Group – Note 35 – Transfers of financial assets and variable interest entities in the Credit Suisse Annual Report 2021 for further information on non-consolidated VIEs. Non-consolidated VIEs Financial intermediation CDO/ CP 1 Securi- 2Q22 (CHF million) Trading assets 228 0 4,399 777 7 2,095 7,506 Net loans 579 1,312 1,230 2,726 7,669 2,080 15,596 Other assets 6 0 104 148 5 797 1,060 Total variable interest assets 813 1,312 5,733 3,651 7,681 4,972 24,162 Maximum exposure to loss 1,087 8,012 7,632 3,651 11,290 5,484 37,156 Total assets of non-consolidated VIEs 10,819 16,536 153,117 129,284 38,092 19,379 367,227 4Q21 (CHF million) Trading assets 257 0 4,526 932 13 5,494 11,222 Net loans 268 1,005 940 2,403 8,774 1,986 15,376 Other assets 6 0 22 112 0 628 768 Total variable interest assets 531 1,005 5,488 3,447 8,787 8,108 27,366 Maximum exposure to loss 774 7,625 8,036 3,447 13,068 8,637 41,587 Total assets of non-consolidated VIEs 10,266 14,948 108,942 103,179 36,428 24,945 298,708 1 Includes liquidity facilities provided to third-party CP conduits through Alpine. |
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 2Q22 and “Note 34 – Transfers of financial assets and variable interest entities“ in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2021 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 6M22 and 6M21 securitizations of financial assets that qualify for sale accounting and subsequent derecognition, along with cash flows between the Bank and the SPEs used in any securitizations in which the Bank still has continuing involvement, regardless of when the securitization occurred. Securitizations in 6M22 6M21 Gains/(losses) and cash flows (CHF million) CMBS Net gain 1 5 0 Proceeds from transfer of assets 2,819 999 Cash received on interests that continue to be held 22 26 RMBS Net gain/(loss) 1 (1) 62 Proceeds from transfer of assets 6,799 20,876 Purchases of previously transferred financial assets or its underlying collateral 0 (1,072) Servicing fees 0 1 Cash received on interests that continue to be held 531 430 Other asset-backed financings Net gain 1 23 47 Proceeds from transfer of assets 3,808 6,802 Purchases of previously transferred financial assets or its underlying collateral (997) (699) Fees 2 97 81 Cash received on interests that continue to be held 36 7 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 6M22 and 2021, regardless of when the transfer of assets occurred. Principal amounts outstanding and total assets of SPEs resulting from continuing involvement end of 6M22 2021 CHF million CMBS Principal amount outstanding 20,202 15,428 Total assets of SPE 38,723 23,205 RMBS Principal amount outstanding 49,342 56,990 Total assets of SPE 49,342 56,990 Other asset-backed financings Principal amount outstanding 23,514 24,856 Total assets of SPE 56,511 57,797 Principal amount outstanding relates to assets transferred from the Bank and does not include principal amounts for assets transferred from third parties. Fair value of beneficial interests The fair value measurement of the beneficial interests held at the time of transfer and as of the reporting date that result from any continuing involvement is determined using fair value estimation techniques, such as the present value of estimated future cash flows that incorporate assumptions that market participants customarily use in these valuation techniques. The fair value of the assets or liabilities that result from any continuing involvement does not include any benefits from financial instruments that the Bank may utilize to hedge the inherent risks. Key economic assumptions at the time of transfer > Refer to “Note 30 – Financial instruments” for information on fair value hierarchy levels. Key economic assumptions used in measuring fair value of beneficial interests at time of transfer 6M22 6M21 at time of transfer, in CMBS RMBS CMBS RMBS CHF million, except where indicated Fair value of beneficial interests 252 548 92 1,337 of which level 2 191 480 82 1,019 of which level 3 61 68 10 318 Weighted-average life, in years 5.4 10.9 7.4 5.0 Prepayment speed assumption (rate per annum), in % 1 – 2 5.0 – 22.2 – 2 3.0 – 32.8 Cash flow discount rate (rate per annum), in % 3 3.5 – 10.3 2.8 – 43.6 1.8 – 4.5 1.0 – 15.4 Expected credit losses (rate per annum), in % 4 2.7 – 5.6 1.3 – 41.1 0.9 – 3.9 0.1 – 13.7 Transfers of assets in which the Bank does not have beneficial interests are not included in this table. 1 Prepayment speed assumption (PSA) is an industry standard prepayment speed metric used for projecting prepayments over the life of a residential mortgage loan. PSA utilizes the constant prepayment rate (CPR) assumptions. A 100% prepayment assumption assumes a prepayment rate of 0.2% per annum of the outstanding principal balance of mortgage loans in the first month. This increases by 0.2 percentage points thereafter during the term of the mortgage loan, leveling off to a CPR of 6% per annum beginning in the 30th month and each month thereafter during the term of the mortgage loan. 100 PSA equals 6 CPR. 2 To deter prepayment, commercial mortgage loans typically have prepayment protection in the form of prepayment lockouts and yield maintenances. 3 The rate was based on the weighted-average yield on the beneficial interests. 4 The range of expected credit losses only reflects instruments with an expected credit loss greater than zero unless all of the instruments have an expected credit loss of zero. Key economic assumptions as of the reporting date The following table provides the sensitivity analysis of key economic assumptions used in measuring the fair value of beneficial interests held in SPEs as of the end of 6M22 and 2021. Key economic assumptions used in measuring fair value of beneficial interests held in SPEs 6M22 2021 1 Other asset- 2 1 Other asset- 2 CHF million, except where indicated Fair value of beneficial interests 478 1,563 549 281 2,310 402 of which non-investment grade 96 270 75 55 370 27 Weighted-average life, in years 3.5 8.7 5.2 3.9 4.7 5.5 Prepayment speed assumption (rate per annum), in % 3 – 4.0 – 22.9 – – 5.1 – 41.9 – Impact on fair value from 10% adverse change – (30.4) – – (31.1) – Impact on fair value from 20% adverse change – (59.6) – – (59.8) – Cash flow discount rate (rate per annum), in % 4 4.2 – 41.9 2.1 – 38.4 1.2 – 52.0 1.7 – 50.7 0.7 – 35.5 0.3 – 14.7 Impact on fair value from 10% adverse change (7.0) (53.8) (8.6) (3.5) (38.1) (4.9) Impact on fair value from 20% adverse change (13.8) (103.5) (16.9) (6.8) (73.3) (9.7) Expected credit losses (rate per annum), in % 5 1.2 – 13.2 0.3 – 35.3 0.6 – 49.9 0.6 – 8.4 0.4 – 34.2 0.7 – 13.3 Impact on fair value from 10% adverse change (3.7) (27.6) (5.5) (2.5) (28.5) (4.3) Impact on fair value from 20% adverse change (7.4) (53.7) (10.8) (4.9) (54.8) (8.4) 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 6M22 and 2021. > 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 6M22 2021 CHF million RMBS Other assets 0 257 Liability to SPE, included in other liabilities 0 (257) Other asset-backed financings Trading assets 500 557 Other assets 178 200 Liability to SPE, included in other liabilities (678) (757) 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 6M22 and 2021. Securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral – by class of collateral pledged end of 6M22 2021 CHF billion Government debt securities 19.3 16.0 Corporate debt securities 9.7 9.6 Asset-backed securities 2.3 4.6 Equity securities 0.3 0.5 Other 3.6 5.6 Securities sold under repurchase agreements 35.2 36.3 Government debt securities 0.2 13.9 Corporate debt securities 0.2 0.3 Asset-backed securities 0.0 0.3 Equity securities 0.2 1.0 Other 0.2 0.2 Securities lending transactions 0.8 15.7 Government debt securities 3.7 3.6 Corporate debt securities 0.8 0.6 Asset-backed securities 0.1 0.0 Equity securities 2.8 10.8 Other 0.0 0.0 Obligation to return securities received as collateral, at fair value 7.4 15.0 Total 43.4 67.0 Securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral – by remaining contractual maturity Remaining contractual maturities No stated 1 Up to 2 31-90 More than 6M22 (CHF billion) Securities sold under repurchase agreements 6.0 19.0 3.3 6.9 35.2 Securities lending transactions 0.7 0.0 0.0 0.1 0.8 Obligation to return securities received as collateral, at fair value 7.4 0.0 0.0 0.0 7.4 Total 14.1 19.0 3.3 7.0 43.4 2021 (CHF billion) Securities sold under repurchase agreements 5.3 15.8 6.0 9.2 36.3 Securities lending transactions 2.3 1.7 1.6 10.1 15.7 Obligation to return securities received as collateral, at fair value 15.0 0.0 0.0 0.0 15.0 Total 22.6 17.5 7.6 19.3 67.0 1 Includes contracts with no contractual maturity that may contain termination arrangements subject to a notice period. 2 Includes overnight transactions. > Refer to “Note 23 – Offsetting of financial assets and financial liabilities” for further information on the gross amount of securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral and the net amounts disclosed in the consolidated balance sheets. Variable interest entities Commercial paper conduit The Bank acts as the administrator and provider of liquidity and credit enhancement facilities for Alpine Securitization Ltd (Alpine), a multi-seller asset-backed CP conduit used for client and Bank financing purposes. Alpine discloses to CP investors certain portfolio and asset data and submits its portfolio to rating agencies for public ratings on its CP. This CP conduit purchases assets such as loans and receivables or enters into reverse repurchase agreements and finances such activities through the issuance of CP backed by these assets. In addition to CP, Alpine may also issue term notes with maturities up to 30 months. The Bank (including Alpine) can enter into liquidity facilities with third-party entities pursuant to which it may be required to purchase assets from these entities to provide them with liquidity and credit support. The financing transactions are structured to provide credit support in the form of over-collateralization and other asset-specific enhancements. Alpine is a separate legal entity that is wholly owned by the Bank. However, its assets are available to satisfy only the claims of its creditors. In addition, the Bank, as administrator and liquidity facility provider, has significant exposure to and power over the activities of Alpine. Alpine is considered a VIE for accounting purposes and the Bank is deemed the primary beneficiary and consolidates this entity. The overall average maturity of Alpine’s outstanding CP was approximately 174 days as of the end of 6M22. Alpine’s CP is rated A-1(sf) by Standard & Poor’s and P-1(sf) by Moody’s. Alpine had exposures mainly in reverse repurchase agreements with a Group entity, solar loans and leases, consumer loans and aircraft loans and leases. The Bank’s financial commitment to this CP conduit consists of obligations under liquidity agreements. The liquidity agreements are asset-specific arrangements, which require the Bank to provide short-term financing to the CP conduit or to purchase assets from the CP conduit in certain circumstances, including but not limited to, a lack of liquidity in the CP market such that the CP conduit cannot refinance its obligations or a default of an underlying asset. The asset-specific credit enhancements provided by the client seller of the assets remain unchanged as a result of such a purchase. In entering into such agreements, the Bank reviews the credit risk associated with these transactions on the same basis that would apply to other extensions of credit. The Bank enters into liquidity facilities with CP conduits administrated and sponsored by third parties. These third-party CP conduits are considered to be VIEs for accounting purposes. The Bank is not the primary beneficiary and does not consolidate these third-party CP conduits. The Bank’s financial commitment to these third-party CP conduits consists of obligations under liquidity agreements. The liquidity agreements are asset-specific arrangements, which require the Bank to provide short-term financing to the third-party CP conduits or to purchase assets from these CP conduits in certain circumstances, including but not limited to, a lack of liquidity in the CP market such that the CP conduits cannot refinance their obligations or a default of an underlying asset. The asset-specific credit enhancements, if any, provided by the client seller of the assets remain unchanged as a result of such a purchase. In entering into such agreements, the Bank reviews the credit risk associated with these transactions on the same basis that would apply to other extensions of credit. In some situations, the Bank can enter into liquidity facilities with these third-party CP conduits through Alpine. The Bank’s economic risks associated with the Alpine CP conduit and the third-party CP conduits are included in the Bank’s risk management framework including counterparty, economic risk capital and scenario analysis. Consolidated VIEs The consolidated variable interest entities (VIEs) tables provide the carrying amounts and classifications of the assets and liabilities of consolidated VIEs as of the end of 6M22 and 2021. Consolidated VIEs in which the Bank was the primary beneficiary Financial intermediation CDO/ CP Securi- 6M22 (CHF million) Cash and due from banks 15 0 46 11 23 15 110 Trading assets 1 0 1,281 42 477 0 1,801 Other investments 0 0 0 69 685 141 895 Net loans 0 1,274 0 0 16 33 1,323 Other assets 250 29 886 49 101 682 1,997 of which loans held-for-sale 249 0 72 25 0 0 346 of which premises and equipment 0 0 0 0 13 0 13 Total assets of consolidated VIEs 266 1,303 2,213 171 1,302 871 6,126 Trading liabilities 3 0 0 0 10 0 13 Short-term borrowings 0 4,620 0 15 0 0 4,635 Long-term debt 34 0 1,750 0 0 41 1,825 Other liabilities 0 88 2 21 58 54 223 Total liabilities of consolidated VIEs 37 4,708 1,752 36 68 95 6,696 2021 (CHF million) Cash and due from banks 0 1 42 25 27 13 108 Trading assets 0 0 1,158 54 610 0 1,822 Other investments 0 0 0 65 789 161 1,015 Net loans 0 1,022 317 0 28 33 1,400 Other assets 0 31 604 78 95 674 1,482 of which loans held-for-sale 0 0 50 23 0 1 74 of which premises and equipment 0 0 0 0 12 0 12 Total assets of consolidated VIEs 0 1,054 2,121 222 1,549 881 5,827 Trading liabilities 0 0 0 0 8 0 8 Short-term borrowings 0 4,337 0 15 0 0 4,352 Long-term debt 0 0 1,342 0 3 46 1,391 Other liabilities 0 67 1 20 61 84 233 Total liabilities of consolidated VIEs 0 4,404 1,343 35 72 130 5,984 Non-consolidated VIEs The non-consolidated VIEs table provides the carrying amounts and classification of the assets of variable interests recorded in the Bank’s consolidated balance sheets, maximum exposure to loss and total assets of the non-consolidated VIEs. Non-consolidated VIEs Financial intermediation CDO/ CP 1 Securi- 6M22 (CHF million) Trading assets 228 0 4,399 776 7 2,095 7,505 Net loans 579 1,312 1,230 2,726 7,669 2,080 15,596 Other assets 6 0 104 146 5 797 1,058 Total variable interest assets 813 1,312 5,733 3,648 7,681 4,972 24,159 Maximum exposure to loss 1,087 8,012 7,632 3,648 11,290 5,484 37,153 Total assets of non-consolidated VIEs 10,819 16,536 153,117 129,154 38,092 17,260 364,978 2021 (CHF million) Trading assets 257 0 4,526 932 13 5,494 11,222 Net loans 268 1,005 940 2,403 8,774 1,986 15,376 Other assets 6 0 22 109 0 628 765 Total variable interest assets 531 1,005 5,488 3,444 8,787 8,108 27,363 Maximum exposure to loss 774 7,625 8,036 3,444 13,068 8,637 41,584 Total assets of non-consolidated VIEs 10,266 14,948 108,942 102,820 36,428 19,804 293,208 1 Includes liquidity facilities provided to third-party CP conduits through Alpine. |
Financial instruments
Financial instruments | 6 Months Ended |
Jun. 30, 2022 | |
Financial instruments | 31 Financial instruments The disclosure of the Group’s financial instruments includes the following sections: ■ ■ ■ ■ Concentration of credit risk Credit risk concentrations arise when a number of counterparties are engaged in similar business activities, are located in the same geographic region or when there are similar economic features that would cause their ability to meet contractual obligations to be similarly impacted by changes in economic conditions. > Refer to “Note 36 – Financial instruments” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2021 for further information on the Group’s concentration of credit risk. Fair value measurement A significant portion of the Group’s financial instruments is carried at fair value. Deterioration of financial markets could significantly impact the fair value of these financial instruments and the results of operations. > Refer to “Note 36 – Financial instruments” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2021 for further information on fair value measurement of financial instruments and the definition of the levels of the fair value hierarchy. Qualitative disclosures of valuation techniques Information on the valuation techniques and significant unobservable inputs of the various financial instruments and the section “Uncertainty of fair value measurements at the reporting date from the use of significant unobservable inputs” should be read in conjunction with the tables “Assets and liabilities measured at fair value on a recurring basis”, “Quantitative information about level 3 assets measured at fair value on a recurring basis” and “Quantitative information about level 3 liabilities measured at fair value on a recurring basis”. > Refer to “Note 36 – Financial instruments” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2021 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 0 165 0 – – 165 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 35 82,357 0 – – 82,392 Securities received as collateral 6,132 1,254 0 – – 7,386 Trading assets 50,197 140,406 4,400 (94,491) 583 101,095 of which debt securities 13,814 42,184 1,005 – 27 57,030 of which foreign governments 13,504 10,598 91 – – 24,193 of which corporates 34 10,213 299 – 27 10,573 of which RMBS 6 18,127 410 – – 18,543 of which equity securities 23,000 880 275 – 556 24,711 of which derivatives 11,584 96,578 2,398 (94,491) – 16,069 of which interest rate products 3,979 38,590 925 – – – of which foreign exchange products 103 30,751 88 – – – of which equity/index-related products 7,469 23,247 464 – – – of which other derivatives 1 506 706 – – – of which other trading assets 1,799 764 722 – – 3,285 Investment securities 2 737 0 – – 739 Other investments 0 20 3,575 – 392 3,987 of which other equity investments 0 20 2,876 – 321 3,217 of which life finance instruments 0 0 685 – – 685 Loans 0 7,910 1,189 – – 9,099 of which commercial and industrial loans 0 3,266 368 – – 3,634 of which financial institutions 0 2,747 364 – – 3,111 Other intangible assets (mortgage servicing rights) 0 35 255 – – 290 Other assets 115 8,205 722 (426) – 8,616 of which failed purchases 97 874 11 – – 982 of which loans held-for-sale 0 6,551 566 – – 7,117 Total assets at fair value 56,481 241,089 10,141 (94,917) 975 213,769 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 0 355 0 – – 355 Customer deposits 0 3,008 299 – – 3,307 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 0 14,145 0 – – 14,145 Obligation to return securities received as collateral 6,132 1,254 0 – – 7,386 Trading liabilities 22,375 102,907 2,456 (97,772) 1 29,967 of which short positions 9,430 4,530 54 – 1 14,015 of which debt securities 3,565 4,341 7 – – 7,913 of which foreign governments 2,914 787 0 – – 3,701 of which corporates 603 3,551 7 – – 4,161 of which equity securities 5,865 189 47 – 1 6,102 of which derivatives 12,945 98,377 2,402 (97,772) – 15,952 of which interest rate products 4,031 37,410 55 – – – of which foreign exchange products 107 30,864 14 – – – of which equity/index-related products 8,765 25,670 1,447 – – – of which other derivatives 11 213 560 – – 296 Short-term borrowings 0 9,333 716 – – 10,049 Long-term debt 0 59,484 6,656 – – 66,140 of which structured notes over one year and up to two years 0 12,668 320 – – 12,988 of which structured notes over two years 0 24,431 4,383 – – 28,814 of which other debt instruments over two years 0 3,141 1,826 – – 4,967 of which high-trigger instruments 0 10,593 0 – – 10,593 Other liabilities 207 3,906 495 (1,988) – 2,620 Total liabilities at fair value 28,714 194,392 10,622 (99,760) 1 133,969 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 0 308 0 – – 308 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 0 68,623 0 – – 68,623 Securities received as collateral 13,848 1,155 14 – – 15,017 Trading assets 54,085 146,521 4,503 (94,633) 665 111,141 of which debt securities 12,191 40,700 1,225 – 82 54,198 of which foreign governments 11,996 11,377 35 – – 23,408 of which corporates 72 8,958 478 – 82 9,590 of which RMBS 0 17,033 424 – – 17,457 of which equity securities 34,282 1,486 195 – 583 36,546 of which derivatives 6,224 103,781 2,187 (94,633) – 17,559 of which interest rate products 721 47,934 624 – – – of which foreign exchange products 123 20,686 53 – – – of which equity/index-related products 5,348 29,808 212 – – – of which other derivatives 0 196 1,034 – – – of which other trading assets 1,388 554 896 – – 2,838 Investment securities 2 1,003 0 – – 1,005 Other investments 0 23 3,666 – 405 4,094 of which other equity investments 0 23 2,863 – 351 3,237 of which life finance instruments 0 0 789 – – 789 Loans 0 8,709 1,534 – – 10,243 of which commercial and industrial loans 0 2,267 717 – – 2,984 of which financial institutions 0 3,840 465 – – 4,305 Other intangible assets (mortgage servicing rights) 0 57 167 – – 224 Other assets 121 8,750 694 (381) – 9,184 of which failed purchases 98 1,135 11 – – 1,244 of which loans held-for-sale 0 6,818 562 – – 7,380 Total assets at fair value 68,056 235,149 10,578 (95,014) 1,070 219,839 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 0 477 0 – – 477 Customer deposits 0 3,306 394 – – 3,700 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 0 13,213 0 – – 13,213 Obligation to return securities received as collateral 13,848 1,155 14 – – 15,017 Trading liabilities 19,419 105,828 2,809 (100,522) 1 27,535 of which short positions 11,689 4,974 25 – 1 16,689 of which debt securities 2,809 4,865 3 – – 7,677 of which foreign governments 2,667 968 0 – – 3,635 of which corporates 113 3,839 3 – – 3,955 of which equity securities 8,880 109 22 – 1 9,012 of which derivatives 7,730 100,854 2,784 (100,522) – 10,846 of which interest rate products 776 44,003 26 – – – of which foreign exchange products 133 22,646 57 – – – of which equity/index-related products 6,812 27,919 1,787 – – – Short-term borrowings 0 9,658 1,032 – – 10,690 Long-term debt 0 59,046 9,676 – – 68,722 of which structured notes over one year and up to two years 0 11,036 1,464 – – 12,500 of which structured notes over two years 0 24,168 6,318 – – 30,486 of which other debt instruments over two years 0 3,223 1,854 – – 5,077 of which high-trigger instruments 0 10,702 0 – – 10,702 Other liabilities 348 2,031 518 (305) – 2,592 Total liabilities at fair value 33,615 194,714 14,443 (100,827) 1 141,946 1 Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements. 2 In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value Assets and liabilities measured at fair value on a recurring basis for level 3 Accumulated other Foreign 1 Assets (CHF million) Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 0 0 0 0 0 3 (3) 0 0 0 0 0 0 0 0 0 Securities received as collateral 14 0 0 0 (14) 0 0 0 0 0 0 0 0 0 0 0 Trading assets 4,503 907 (1,174) 3,539 (3,324) 580 (548) 36 (338) 0 (8) 0 0 227 4,400 477 of which debt securities 1,225 515 (733) 2,899 (2,571) 0 0 (106) (313) 0 (8) 0 0 97 1,005 562 of which corporates 478 161 (385) 2,412 (2,048) 0 0 (106) (276) 0 0 0 0 63 299 662 of which RMBS 424 77 (131) 243 (326) 0 0 4 100 0 0 0 0 19 410 28 of which derivatives 2,187 216 (326) 0 0 580 (409) 98 (31) 0 0 0 0 83 2,398 17 of which interest rate products 624 4 (6) 0 0 60 (28) (1) 252 0 0 0 0 20 925 141 of which other derivatives 1,034 10 (5) 0 0 158 (154) 3 (381) 0 0 0 0 41 706 (373) of which other trading assets 896 57 (45) 555 (727) 0 (139) 6 82 0 0 0 0 37 722 (112) Other investments 3,666 71 0 51 (119) 0 0 0 (162) 0 (52) 0 0 120 3,575 (99) of which other equity investments 2,863 71 0 37 (6) 0 0 0 (115) 0 (60) 0 0 86 2,876 (77) of which life finance instruments 789 0 0 14 (105) 0 0 0 (47) 0 0 0 0 34 685 (22) Loans 1,534 313 (317) 0 (20) 3 (369) 21 (64) 0 0 0 0 88 1,189 (97) of which commercial and industrial loans 717 74 (300) 0 (8) 3 (123) 12 (46) 0 0 0 0 39 368 (54) of which financial institutions 465 75 0 0 0 0 (219) 0 10 0 0 0 0 33 364 (17) Other intangible assets (mortgage servicing rights) 167 102 0 0 0 0 0 0 (21) 0 0 0 0 7 255 (21) Other assets 694 170 (114) 510 (512) 114 (199) 6 3 0 4 0 0 46 722 0 of which loans held-for-sale 562 153 (109) 493 (509) 113 (199) 14 9 0 0 0 0 39 566 2 Total assets at fair value 10,578 1,563 (1,605) 4,100 (3,989) 700 (1,119) 63 (582) 0 (56) 0 0 488 10,141 260 Liabilities (CHF million) Customer deposits 394 0 0 0 0 0 (15) 0 (26) 0 0 0 (41) (13) 299 (70) Obligation to return securities received as collateral 14 0 0 0 (14) 0 0 0 0 0 0 0 0 0 0 0 Trading liabilities 2,809 856 (882) 18 (83) 502 (629) 37 (290) 0 0 0 0 118 2,456 (188) of which derivatives 2,784 746 (870) 0 (61) 502 (629) 38 (228) 0 0 0 0 120 2,402 (180) of which equity/index-related derivatives 1,787 611 (596) 0 0 279 (232) (9) (468) 0 0 0 0 75 1,447 (348) of which other derivatives 540 7 (4) 0 (61) 89 (113) 3 73 0 0 0 0 26 560 (15) Short-term borrowings 1,032 124 (522) 0 0 639 (500) (43) (58) 0 0 0 0 44 716 18 Long-term debt 9,676 1,259 (4,863) 0 0 4,531 (2,960) (499) (746) 0 0 (35) (202) 495 6,656 (756) of which structured notes over one year and up to two years 1,464 142 (1,392) 0 0 559 (338) (102) (76) 0 0 (1) (1) 65 320 (34) of which structured notes over two years 6,318 1,106 (3,441) 0 0 3,888 (2,595) (416) (586) 0 0 (34) (201) 344 4,383 (740) of which other debt instruments over two years 1,854 0 0 0 0 0 (26) 0 (84) 0 0 0 0 82 1,826 0 Other liabilities 518 41 (2) 8 (21) 58 (71) (2) (22) 1 (35) 0 0 22 495 16 Total liabilities at fair value 14,443 2,280 (6,269) 26 (118) 5,730 (4,175) (507) (1,142) 1 (35) (35) (243) 666 10,622 (980) Net assets/(liabilities) at fair value (3,865) (717) 4,664 4,074 (3,871) (5,030) 3,056 570 560 (1) (21) 35 243 (178) (481) 1,240 1 Changes in unrealized gains/(losses) on total assets at fair value and changes in unrealized (gains)/losses on total liabilities at fair value relating to assets and liabilities held at period end are included in net revenues or accumulated other comprehensive income. As of 6M22, changes in net unrealized gains/(losses) of CHF 1,044 million and CHF (77) Assets and liabilities measured at fair value on a recurring basis for level 3 (continued) Accumulated other Foreign 1 Assets (CHF million) Securities received as collateral 101 0 0 64 (86) 0 0 0 0 0 0 0 0 5 84 0 Trading assets 7,535 594 (1,635) 2,472 (2,976) 508 (1,119) 39 140 0 0 0 0 380 5,938 128 of which debt securities 2,253 296 (736) 1,859 (2,285) 0 0 (7) 138 0 0 0 0 137 1,655 103 of which corporates 1,270 137 (176) 1,403 (1,913) 0 0 (5) 95 0 0 0 0 78 889 99 of which derivatives 3,911 179 (856) 0 0 508 (1,033) 29 (30) 0 0 0 0 175 2,883 72 of which interest rate products 733 59 (81) 0 0 114 (59) 0 18 0 0 0 0 21 805 54 of which other derivatives 1,079 0 0 0 0 153 (157) 0 (55) 0 0 0 0 53 1,073 (60) of which other trading assets 1,247 22 (32) 493 (617) 0 (86) 10 21 0 0 0 0 60 1,118 (47) Other investments 3,054 3 (753) 20 (473) 0 0 0 (17) 0 318 0 0 79 2,231 43 of which other equity investments 2,132 0 (753) 3 (375) 0 0 0 (6) 0 318 0 0 34 1,353 52 of which life finance instruments 920 0 0 17 (94) 0 0 0 (11) 0 0 0 0 45 877 18 Loans 3,669 22 (533) 357 (73) 162 (946) 8 85 0 1 0 0 176 2,928 25 of which commercial and industrial loans 1,347 22 (12) 10 (31) 119 (184) 14 57 0 1 0 0 68 1,411 36 of which financial institutions 1,082 0 (222) 0 (42) 32 (296) 3 40 0 0 0 0 46 643 4 Other intangible assets (mortgage servicing rights) 180 0 0 22 0 0 0 0 0 0 (22) 0 0 9 189 (22) Other assets 1,825 164 (451) 2,500 (2,176) 77 (573) 13 (42) 0 0 0 0 99 1,436 (76) of which loans held-for-sale 1,576 164 (409) 2,469 (2,137) 77 (571) 11 19 0 0 0 0 88 1,287 (41) Total assets at fair value 16,364 783 (3,372) 5,435 (5,784) 747 (2,638) 60 166 0 297 0 0 748 12,806 98 Liabilities (CHF million) Customer deposits 448 0 0 0 0 0 0 0 (8) 0 0 0 (13) 5 432 10 Obligation to return securities received as collateral 101 0 0 64 (86) 0 0 0 0 0 0 0 0 5 84 0 Trading liabilities 4,246 584 (1,961) 80 (24) 710 (1,138) 152 169 0 0 0 0 217 3,035 779 of which derivatives 4,191 566 (1,961) 69 (4) 710 (1,138) 152 193 0 0 0 0 216 2,994 781 of which equity/index-related derivatives 2,010 427 (1,049) 0 0 350 (527) 151 265 0 0 0 0 111 1,738 529 Short-term borrowings 701 155 (207) 0 0 930 (608) (1) 95 0 0 0 0 41 1,106 67 Long-term debt 7,268 2,715 (2,046) 0 0 4,401 (3,119) 62 (4) 0 4 (3) (30) 425 9,673 210 of which structured notes over one year and up to two years 1,133 1,165 (732) 0 0 1,127 (771) 39 97 0 0 0 (1) 67 2,124 39 of which structured notes over two years 5,526 1,532 (1,287) 0 0 3,020 (2,227) 24 (109) 0 0 (2) (29) 329 6,777 (59) Other liabilities 1,271 7 (552) 24 (46) 59 (424) 8 (8) 107 38 0 0 51 535 2 Total liabilities at fair value 14,035 3,461 (4,766) 168 (156) 6,100 (5,289) 221 244 107 42 (3) (43) 744 14,865 1,068 Net assets/(liabilities) at fair value 2,329 (2,678) 1,394 5,267 (5,628) (5,353) 2,651 (161) (78) (107) 255 3 43 4 (2,059) (970) 1 Changes in unrealized gains/(losses) on total assets at fair value and changes in unrealized (gains)/losses on total liabilities at fair value relating to assets and liabilities held at period end are included in net revenues or accumulated other comprehensive income. As of 6M21, changes in net unrealized gains/(losses) of CHF (1,011) 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 tables 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 tables above do not reflect the related realized or unrealized gains and losses arising on economic hedging instruments classified in levels 1 and/or 2. The Group typically uses nonfinancial assets measured at fair value on a recurring or nonrecurring basis in a manner that reflects their highest and best use. Transfers in and out of level 3 Transfers into level 3 assets during 6M22 were CHF 1,563 million, primarily from trading assets and loans. These transfers were primarily in the GTS and securitized products businesses, due to limited observability of pricing data and reduced pricing information from external providers. Transfers out of level 3 assets during 6M22 were CHF 1,605 million, primarily in trading assets and loans. These transfers were mainly related to GTS and securitized products and prime services businesses, due to improved observability of pricing data and increased availability of pricing information from external providers. Transfers into level 3 liabilities during 6M22 were CHF 2,280 million, primarily from long-term debt and trading liabilities. These transfers were primarily in structured notes over two years arising from a change in the observability of pricing data. Transfers out of level 3 liabilities of CHF 6,269 million in 6M22 were primarily from long-term debt. These transfers were primarily in structured notes over two years arising from a change in the observability of pricing data. Transfers into level 3 assets during 2Q22 were CHF 879 million, primarily from trading assets and loans. These transfers were primarily in the GTS, securitized products and APAC Financing Group businesses, due to limited observability of pricing data and reduced pricing information from external providers. Transfers out of level 3 assets during 2Q22 were CHF 708 million, primarily in trading assets and loans. These transfers were mainly related to GTS and prime services businesses, due to improved observability of pricing data and increased availability of pricing information from external providers. Transfer into level 3 liabilities during 2Q22 were CHF 1,237 million, primarily from long-term debt. These transfers were primarily in structured notes over two years arising from a change in the observability of pricing data. Transfers out of level 3 liabilities of CHF 2,714 million in 2Q22, primarily from long-term debt. These transfers were primarily in structured notes over two years arising from a change in the observability of pricing data. 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, dividend yield, mortality rate, price, recovery rate, volatility or unadjusted net asset value (NAV), in general, an increase in the significant unobservable input would increase the fair value. For level 3 assets with significant unobservable inputs of correlation, credit spread, default rate, discount rate, fund gap risk, gap risk, market implied life expectancy (for life settlement and premium finance instruments), mean reversion, prepayment rate or tax swap rate, in general, an increase in the significant unobservable input would decrease the fair value. For level 3 liabilities, in general, an increase in the related significant unobservable inputs would have an inverse impact on fair value. An increase in the significant unobservable inputs contingent probability, credit spread, discount rate, fund gap risk, gap risk, market implied life expectancy, mortality rate or price would increase the fair value. An increase in the significant unobservable inputs of buyback probability, correlation, dividend yield, mean reversion, prepayment rate, unadjusted NAV or volatility would decrease the fair value. Interrelationships between significant unobservable inputs Except as noted above, there are no material interrelationships between the significant unobservable inputs for the financial instruments. As the significant unobservable inputs move independently, generally an increase or decrease in one significant unobservable input will have no impact on the other significant unobservable inputs. Quantitative disclosures of valuation techniques The following tables provide the representative range of minimum and maximum values and the associated weighted averages of each significant unobservable input for level 3 assets and liabilities by the related valuation technique most significant to the related financial instrument. Quantitative information about level 3 assets measured at fair value on a recurring basis Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Trading assets 4,400 of which debt securities 1,005 of which corporates 299 of which 164 Discounted cash flow Credit spread, in bp 100 2,048 633 Price, in % 0 102 46 Recovery rate, in % 73 73 3 of which 62 Market comparable Price, in % 0 102 41 of which 70 Price Price, in % 30 100 94 Price, in actuals 0 11,250 3,534 of which RMBS 410 Discounted cash flow Discount rate, in % 4 28 12 of which derivatives 2,398 of which interest rate products 925 of which 2 Discounted cash flow Volatility, in % 93 100 97 of which 907 Option model Correlation, in % (11) 100 35 Mean reversion, in % 3 15 15 0 Prepayment rate, in % 15 21 18 Volatility, in % (3) 0 0 of which other derivatives 706 Discounted cash flow Market implied life expectancy, in years 2 14 6 Mortality rate, in % 73 138 99 of which other trading assets 722 of which 478 Discounted cash flow Market implied life expectancy, in years 3 13 7 Tax swap rate, in % 30 30 30 of which 195 Market comparable Price, in % 0 113 48 of which 48 Option model Mortality rate, in % 0 70 6 Other investments 3,575 of which other equity investments 2,876 of which 941 Adjusted NAV Price, in actuals 281 281 281 of which 36 Market comparable Price, in actuals 0 85 19 of which 1,820 Price Price, in actuals 1 771 26 of which life finance instruments 685 Discounted cash flow Market implied life expectancy, in years 2 16 6 Loans 1,189 of which commercial and industrial loans 368 of which 199 Discounted cash flow Credit spread, in bp 451 8,199 1,344 of which 165 Price Price, in % 10 100 51 of which financial institutions 364 of which 250 Discounted cash flow Credit spread, in bp 314 8,086 1,283 of which 113 Price Price, in % 13 68 58 Other assets 722 of which loans held-for-sale 566 of which 301 Discounted cash flow Credit spread, in bp 355 1,032 375 Recovery rate, in % 54 54 8 of which 234 Market comparable Price, in % 0 145 70 of which 20 Price Price, in % 0 80 57 1 Weighted average is calculated based on the fair value of the instruments. 2 Risk of unexpected large declines in the underlying values occurring between collateral settlement dates. 3 Management's best estimate of the speed at which interest rates will revert to the long-term average. Quantitative information about level 3 assets measured at fair value on a recurring basis (continued) Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Trading assets 4,503 of which debt securities 1,225 of which corporates 478 of which 124 Discounted cash flow Credit spread, in bp 50 1,290 701 Price, in % 0 100 47 Recovery rate, in % 39 39 1 of which 107 Market comparable Price, in % 0 110 63 of which 55 Option model Correlation, in % (50) 100 68 Fund gap risk, in % 2 0 3 1 Volatility, in % 0 163 17 of which 69 Price Price, in % 35 120 92 of which 145 Vendor price Price, in actuals 0 123 79 of which RMBS 424 Discounted cash flow Discount rate, in % 1 29 13 of which derivatives 2,187 of which interest rate products 624 of which 6 Discounted cash flow Funding spread, in bp 109 166 127 Volatility, in % 0 100 97 of which 612 Option model Correlation, in % (4) 100 9 Mean reversion, in % (55) (8) 0 Prepayment rate, in % 0 21 17 Volatility, in % (3) 1 0 of which other derivatives 1,034 Discounted cash flow Market implied life expectancy, in years 2 14 6 Mortality rate, in % 73 138 99 of which other trading assets 896 of which 611 Discounted cash flow Market implied life expectancy, in years 3 14 7 Tax swap rate, in % 30 30 30 of which 189 Market comparable Price, in % 0 130 34 of which 93 Option model Mortality rate, in % 0 70 6 Other investments 3,666 of which other equity investments 2,863 of which 929 Adjusted NAV Price, in actuals 287 287 287 of which 1,919 Price Price, in actuals 1 1,292 54 of which life finance instruments 789 Discounted cash flow Market implied life expectancy, in years 2 16 6 Loans 1,534 of which commercial and industrial loans 717 of which 474 Discounted cash flow Credit spread, in bp 184 3,325 809 of which 6 Market comparable Price, in % 19 19 19 of which 209 Price Price, in % 0 100 50 of which financial institutions 465 of which 327 Discounted cash flow Credit spread, in bp 0 3,212 921 of which 158 Price Price, in % 14 76 31 Other assets 694 of which loans held-for-sale 562 of which 281 Discounted cash flow Credit spread, in bp 0 563 314 of which 254 Market comparable Price, in % 0 139 67 of which 16 Price Price, in % 0 75 54 1 Weighted average is calculated based on the fair value of the instruments. 2 Risk of unexpected large declines in the underlying values occurring between collateral settlement dates. Quantitative information about level 3 liabilities measured at fair value on a recurring basis Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Trading liabilities 2,456 of which derivatives 2,402 of which equity/index-related derivatives 1,447 of which 1,393 Option model Buyback probability, in % 2 50 100 72 Correlation, in % (50) 100 68 Dividend yield, in % 0 15 4 Unadjusted NAV, in actuals 89 416 328 Volatility, in % (1) 185 32 Short-term borrowings 716 of which 142 Discounted cash flow Credit spread, in bp 4 284 3 of which 475 Option model Correlation, in % (50) 100 71 Credit spread, in bp (13) 237 216 Fund gap risk, in % 3 0 2 1 Gap risk, in % 3 0 4 1 Volatility, in % 6 185 35 of which 7 Price Price, in % 19 120 52 Long-term debt 6,656 of which structured notes over two years 4,383 of which 421 Discounted cash flow Credit spread, in bp 9 1,677 99 of which 3,901 Option model Buyback probability, in % 2 50 100 72 Correlation, in % (50) 100 71 Credit spread, in bp (13) 237 216 Fund gap risk, in % 3 0 2 1 Mean reversion, in % 4 15 15 7 Unadjusted NAV, in actuals 89 416 328 Volatility, in % 0 185 26 of which 9 Price Price, in % 25 25 25 of which other debt instruments over two years 1,826 of which 364 Option model Buyback probability, in % 2 50 100 72 Correlation, in % 16 30 24 Price, in actuals 9 9 9 of which 1,461 Price Price, in actuals 9 9 9 1 Weighted average is calculated based on the fair value of the instruments. 2 Estimate of probability of structured notes being put back to the Group at the option of the investor over the remaining life of the financial instruments. 3 Risk of unexpected large declines in the underlying values occurring between collateral settlement dates. 4 Management's best estimate of the speed at which interest rates will revert to the long-term average. Quantitative information about level 3 liabilities measured at fair value on a recurring basis (continued) Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Trading liabilities 2,809 of which derivatives 2,784 of which equity/index-related derivatives 1,787 of which 1,696 Option model Buyback probability, in % 2 50 100 72 Correlation, in % (50) 100 67 Dividend yield, in % 0 7 4 Unadjusted NAV, in actuals 101 440 358 Volatility, in % (1) 163 17 of which 63 Price Price, in actuals 0 849 2 Short-term borrowings 1,032 of which 24 Discounted cash flow Credit spread, in bp 0 181 51 of which 905 Option model Buyback probability, in % 2 50 100 72 Correlation, in % (50) 100 70 Fund gap risk, in % 3 0 3 1 Gap risk, in % 3 0 3 1 Unadjusted NAV, in actuals 101 440 358 Volatility, in % 0 163 16 of which 73 Price Price, in % 34 120 94 Long-term debt 9,676 of which structured notes over one year and up to two years 1,464 Option model Buyback probability, in % 2 50 100 72 Correlation, in % (50) 100 69 Fund gap risk, in % 3 0 3 1 Gap risk, in % 3 0 3 1 Unadjusted NAV, in actuals 101 440 358 Volatility, in % 0 163 16 of which structured notes over two years 6,318 of which 474 Discounted cash flow Credit spread, in bp 8 702 72 of which 5,813 Option model Buyback probability, in % 2 50 100 72 Correlation, in % (50) 100 75 Credit spread, in bp 3 92 75 Fund gap risk, in % 3 0 3 1 Unadjusted NAV, in actuals 101 440 358 Volatility, in % 0 163 19 of which 9 Price Price, in % 26 26 26 of which other debt instruments over two years 1,854 of which 382 Option model Buyback probability, in % 2 50 100 72 Correlation, in % 16 30 24 Price, in actuals 9 9 9 of which 1,472 Price Price, in actuals 9 35 9 1 Weighted average is calculated based on the fair value of the instruments. 2 Estimate of probability of structured notes being put back to the Group at the option of the investor over the remaining life of the financial instruments. 3 Risk of unexpected large declines in the underlying values occurring between collateral settlement dates. Qualitative discussion of the ranges of significant unobservable inputs The level of aggregation and diversity within the financial instruments disclosed in the tables above results in certain ranges of significant inputs being wide and unevenly distributed across asset and liability categories. > Refer to “Note 36 – Financial instruments” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2021 for further information on the Group’s qualitative discussion of the ranges of signification unobservable inputs. Investment funds measured at net asset value per share Certain investment funds are measured at net asset value per share. > Refer to “Note 36 – Financial instruments” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2021 for further information on investment funds measured at net asset value per share. Assets and liabilities measured at fair value on a nonrecurring basis Certain assets and liabilities are measured at fair value on a nonrecurring basis; that is, they are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances. > Refer to “Note 36 – Financial instruments” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2021 for further information on assets and liabilities measured at fair value on a nonrecurring basis. Fair value option The Group has availed itself of the simplification in accounting offered under the fair value option. This has been accomplished generally by electing the fair value option, both at initial adoption and for subsequent transactions, on items impacted by the hedge accounting requirements of US GAAP. For instruments for which hedge accounting could not be achieved but for which the Group is economically hedged, the Group has generally elected the fair value option. Where the Group manages an activity on a fair value basis but previously has been unable to achieve fair value accounting, the Group has generally utilized the fair value option to align its financial accounting to its risk management reporting. > Refer to “Note 36 – Financial instruments” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2021 for further information on the Group’s election of the fair value option. Difference between the aggregate fair value and unpaid principal balances of fair value option-elected financial instruments 2Q22 4Q21 Aggregate Aggregate Aggregate Aggregate Financial instruments (CHF million) Central bank funds sold |
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 2Q22 and to “Note 35 – Financial instruments” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2021 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 0 165 0 – – 165 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 35 82,357 0 – – 82,392 Securities received as collateral 6,132 1,254 0 – – 7,386 Trading assets 50,235 141,085 4,400 (95,071) 583 101,232 of which debt securities 13,814 42,284 1,005 – 27 57,130 of which foreign government 13,504 10,598 91 – – 24,193 of which corporates 34 10,312 299 – 27 10,672 of which RMBS 6 18,127 410 – – 18,543 of which equity securities 23,037 880 275 – 556 24,748 of which derivatives 11,584 97,158 2,398 (95,071) – 16,069 of which interest rate products 3,979 39,170 925 – – – of which foreign exchange products 103 30,751 88 – – – of which equity/index-related products 7,469 23,247 464 – – – of which other derivatives 1 506 706 – – – of which other trading assets 1,800 763 722 – – 3,285 Investment securities 0 737 0 – – 737 Other investments 0 20 3,574 – 391 3,985 of which other equity investments 0 20 2,875 – 321 3,216 of which life finance instruments 0 0 685 – – 685 Loans 0 7,910 1,189 – – 9,099 of which commercial and industrial loans 0 3,266 368 – – 3,634 of which financial institutions 0 2,747 364 – – 3,111 Other intangible assets (mortgage servicing rights) 0 35 255 – – 290 Other assets 115 8,205 722 (426) – 8,616 of which failed purchases 97 874 11 – – 982 of which loans held-for-sale 0 6,551 566 – – 7,117 Total assets at fair value 56,517 241,768 10,140 (95,497) 974 213,902 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 0 355 0 – – 355 Customer deposits 0 3,008 299 – – 3,307 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 0 14,239 0 – – 14,239 Obligation to return securities received as collateral 6,132 1,254 0 – – 7,386 Trading liabilities 22,375 102,907 2,456 (97,772) 1 29,967 of which short positions 9,430 4,530 54 – 1 14,015 of which debt securities 3,565 4,341 7 – – 7,913 of which foreign government 2,914 787 0 – – 3,701 of which corporates 603 3,551 7 – – 4,161 of which equity securities 5,865 189 47 – 1 6,102 of which derivatives 12,945 98,377 2,402 (97,772) – 15,952 of which interest rate products 4,031 37,410 55 – – – of which foreign exchange products 107 30,864 14 – – – of which equity/index-related products 8,765 25,670 1,447 – – – of which other derivatives 11 213 560 – – 296 Short-term borrowings 0 9,333 716 – – 10,049 Long-term debt 0 58,620 6,656 – – 65,276 of which structured notes over one year and up to two years 0 12,668 320 – – 12,988 of which structured notes over two years 0 24,431 4,383 – – 28,814 of which other debt instruments over two years 0 3,141 1,826 – – 4,967 of which high-trigger instruments 0 10,621 0 – – 10,621 Other liabilities 207 3,890 495 (1,988) – 2,604 Total liabilities at fair value 28,714 193,606 10,622 (99,760) 1 133,183 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 0 308 0 – – 308 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 0 68,623 0 – – 68,623 Securities received as collateral 13,848 1,155 14 – – 15,017 Trading assets 54,145 146,768 4,503 (94,782) 665 111,299 of which debt securities 12,191 40,799 1,225 – 82 54,297 of which foreign government 11,996 11,377 35 – – 23,408 of which corporates 72 9,057 478 – 82 9,689 of which RMBS 0 17,033 424 – – 17,457 of which equity securities 34,342 1,486 195 – 583 36,606 of which derivatives 6,224 103,930 2,187 (94,782) – 17,559 of which interest rate products 721 48,083 624 – – – of which foreign exchange products 123 20,686 53 – – – of which equity/index-related products 5,348 29,808 212 – – – of which other derivatives 0 196 1,034 – – – of which other trading assets 1,388 553 896 – – 2,837 Investment securities 0 1,003 0 – – 1,003 Other investments 0 23 3,666 – 404 4,093 of which other equity investments 0 23 2,863 – 351 3,237 of which life finance instruments 0 0 789 – – 789 Loans 0 8,709 1,534 – – 10,243 of which commercial and industrial loans 0 2,267 717 – – 2,984 of which financial institutions 0 3,840 465 – – 4,305 Other intangible assets (mortgage servicing rights) 0 57 167 – – 224 Other assets 121 8,750 694 (381) – 9,184 of which failed purchases 98 1,135 11 – – 1,244 of which loans held-for-sale 0 6,818 562 – – 7,380 Total assets at fair value 68,114 235,396 10,578 (95,163) 1,069 219,994 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 0 477 0 – – 477 Customer deposits 0 3,306 394 – – 3,700 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 0 13,307 0 – – 13,307 Obligation to return securities received as collateral 13,848 1,155 14 – – 15,017 Trading liabilities 19,423 105,865 2,809 (100,559) 1 27,539 of which short positions 11,693 4,974 25 – 1 16,693 of which debt securities 2,809 4,865 3 – – 7,677 of which foreign government 2,667 968 0 – – 3,635 of which corporates 113 3,839 3 – – 3,955 of which equity securities 8,884 109 22 – 1 9,016 of which derivatives 7,730 100,891 2,784 (100,559) – 10,846 of which interest rate products 776 44,039 26 – – – of which foreign exchange products 133 22,646 57 – – – of which equity/index-related products 6,812 27,919 1,787 – – – Short-term borrowings 0 9,658 1,032 – – 10,690 Long-term debt 0 58,112 9,676 – – 67,788 of which structured notes over one year and up to two years 0 11,036 1,464 – – 12,500 of which structured notes over two years 0 24,168 6,318 – – 30,486 of which other debt instruments over two years 0 3,223 1,854 – – 5,077 of which high-trigger instruments 0 10,708 0 – – 10,708 of which other subordinated bonds 0 7,133 0 – – 7,133 Other liabilities 348 2,008 517 (305) – 2,568 Total liabilities at fair value 33,619 193,888 14,442 (100,864) 1 141,086 1 Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements. 2 In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value Assets and liabilities measured at fair value on a recurring basis for level 3 Accumulated other Foreign 1 Assets (CHF million) Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 0 0 0 0 0 3 (3) 0 0 0 0 0 0 0 0 0 Securities received as collateral 14 0 0 0 (14) 0 0 0 0 0 0 0 0 0 0 0 Trading assets 4,503 907 (1,174) 3,539 (3,324) 580 (548) 36 (338) 0 (8) 0 0 227 4,400 477 of which debt securities 1,225 515 (733) 2,899 (2,571) 0 0 (106) (313) 0 (8) 0 0 97 1,005 562 of which corporates 478 161 (385) 2,412 (2,048) 0 0 (106) (276) 0 0 0 0 63 299 662 of which RMBS 424 77 (131) 243 (326) 0 0 4 100 0 0 0 0 19 410 28 of which derivatives 2,187 216 (326) 0 0 580 (409) 98 (31) 0 0 0 0 83 2,398 17 of which interest rate products 624 4 (6) 0 0 60 (28) (1) 252 0 0 0 0 20 925 141 of which other derivatives 1,034 10 (5) 0 0 158 (154) 3 (381) 0 0 0 0 41 706 (373) of which other trading assets 896 57 (45) 555 (727) 0 (139) 6 82 0 0 0 0 37 722 (112) Other investments 3,666 71 0 51 (118) 0 0 0 (162) 0 (52) 0 0 118 3,574 (99) of which other equity investments 2,863 71 0 37 (5) 0 0 0 (115) 0 (60) 0 0 84 2,875 (77) of which life finance instruments 789 0 0 14 (105) 0 0 0 (47) 0 0 0 0 34 685 (22) Loans 1,534 313 (317) 0 (20) 3 (369) 21 (64) 0 0 0 0 88 1,189 (97) of which commercial and industrial loans 717 74 (300) 0 (8) 3 (123) 12 (46) 0 0 0 0 39 368 (54) of which financial institutions 465 75 0 0 0 0 (219) 0 10 0 0 0 0 33 364 (17) Other intangible assets (mortgage servicing rights) 167 102 0 0 0 0 0 0 (21) 0 0 0 0 7 255 (21) Other assets 694 170 (114) 510 (512) 114 (199) 6 3 0 4 0 0 46 722 0 of which loans held-for-sale 562 153 (109) 493 (509) 113 (199) 14 9 0 0 0 0 39 566 2 Total assets at fair value 10,578 1,563 (1,605) 4,100 (3,988) 700 (1,119) 63 (582) 0 (56) 0 0 486 10,140 260 Liabilities (CHF million) Customer deposits 394 0 0 0 0 0 (15) 0 (26) 0 0 0 (41) (13) 299 (70) Obligation to return securities received as collateral 14 0 0 0 (14) 0 0 0 0 0 0 0 0 0 0 0 Trading liabilities 2,809 856 (882) 18 (83) 502 (629) 37 (290) 0 0 0 0 118 2,456 (188) of which derivatives 2,784 746 (870) 0 (61) 502 (629) 38 (228) 0 0 0 0 120 2,402 (180) of which equity/index-related derivatives 1,787 611 (596) 0 0 279 (232) (9) (468) 0 0 0 0 75 1,447 (348) of which other derivatives 540 7 (4) 0 (61) 89 (113) 3 73 0 0 0 0 26 560 (15) Short-term borrowings 1,032 124 (522) 0 0 639 (500) (43) (58) 0 0 0 0 44 716 18 Long-term debt 9,676 1,259 (4,863) 0 0 4,531 (2,960) (499) (746) 0 0 (35) (202) 495 6,656 (756) of which structured notes over two years 6,318 1,106 (3,441) 0 0 3,888 (2,595) (416) (586) 0 0 (34) (201) 344 4,383 (740) of which other debt instruments over two years 1,854 0 0 0 0 0 (26) 0 (84) 0 0 0 0 82 1,826 0 Other liabilities 517 41 (2) 8 (21) 58 (71) (2) (22) 1 (35) 0 0 23 495 16 Total liabilities at fair value 14,442 2,280 (6,269) 26 (118) 5,730 (4,175) (507) (1,142) 1 (35) (35) (243) 667 10,622 (980) Net assets/(liabilities) at fair value (3,864) (717) 4,664 4,074 (3,870) (5,030) 3,056 570 560 (1) (21) 35 243 (181) (482) 1,240 1 Changes in unrealized gains/(losses) on total assets at fair value and changes in unrealized (gains)/losses on total liabilities at fair value relating to assets and liabilities held at period end are included in net revenues or accumulated other comprehensive income. As of 6M22, changes in net unrealized gains/(losses) of CHF 1,044 million and CHF (77) Assets and liabilities measured at fair value on a recurring basis for level 3 (continued) Accumulated other Foreign 1 Assets (CHF million) Securities received as collateral 101 0 0 64 (86) 0 0 0 0 0 0 0 0 5 84 0 Trading assets 7,535 594 (1,635) 2,472 (2,976) 508 (1,119) 39 140 0 0 0 0 380 5,938 128 of which debt securities 2,253 296 (736) 1,859 (2,285) 0 0 (7) 138 0 0 0 0 137 1,655 103 of which corporates 1,270 137 (176) 1,403 (1,913) 0 0 (5) 95 0 0 0 0 78 889 99 of which derivatives 3,911 179 (856) 0 0 508 (1,033) 29 (30) 0 0 0 0 175 2,883 72 of which interest rate products 733 59 (81) 0 0 114 (59) 0 18 0 0 0 0 21 805 54 of which other derivatives 1,079 0 0 0 0 153 (157) 0 (55) 0 0 0 0 53 1,073 (60) of which other trading assets 1,247 22 (32) 493 (617) 0 (86) 10 21 0 0 0 0 60 1,118 (47) Other investments 3,054 3 (753) 20 (473) 0 0 0 (17) 0 318 0 0 79 2,231 46 of which other equity investments 2,132 0 (753) 3 (375) 0 0 0 (6) 0 318 0 0 34 1,353 55 of which life finance instruments 920 0 0 17 (94) 0 0 0 (11) 0 0 0 0 45 877 18 Loans 3,669 22 (533) 357 (73) 162 (946) 8 85 0 1 0 0 176 2,928 25 of which commercial and industrial loans 1,347 22 (12) 10 (31) 119 (184) 14 57 0 1 0 0 68 1,411 36 of which financial institutions 1,082 0 (222) 0 (42) 32 (296) 3 40 0 0 0 0 46 643 4 Other intangible assets (mortgage servicing rights) 180 0 0 22 0 0 0 0 0 0 (22) 0 0 9 189 (22) Other assets 1,825 164 (451) 2,500 (2,176) 77 (573) 13 (42) 0 0 0 0 99 1,436 (76) of which loans held-for-sale 1,576 164 (409) 2,469 (2,137) 77 (571) 11 19 0 0 0 0 88 1,287 (41) Total assets at fair value 16,364 783 (3,372) 5,435 (5,784) 747 (2,638) 60 166 0 297 0 0 748 12,806 101 Liabilities (CHF million) Customer deposits 448 0 0 0 0 0 0 0 (8) 0 0 0 (13) 5 432 10 Obligation to return securities received as collateral 101 0 0 64 (86) 0 0 0 0 0 0 0 0 5 84 0 Trading liabilities 4,246 584 (1,961) 80 (24) 710 (1,138) 152 169 0 0 0 0 217 3,035 779 of which derivatives 4,191 566 (1,961) 69 (4) 710 (1,138) 152 193 0 0 0 0 216 2,994 781 of which equity/index-related derivatives 2,010 427 (1,049) 0 0 350 (527) 151 265 0 0 0 0 111 1,738 529 Short-term borrowings 701 155 (207) 0 0 930 (608) (1) 95 0 0 0 0 41 1,106 67 Long-term debt 7,286 2,697 (2,046) 0 0 4,401 (3,119) 62 (8) 0 0 (3) (30) 433 9,673 203 of which structured notes over one year and up to two years 1,133 1,165 (732) 0 0 1,127 (771) 39 97 0 0 0 (1) 67 2,124 39 of which structured notes over two years 5,526 1,532 (1,287) 0 0 3,020 (2,227) 24 (109) 0 0 (2) (29) 329 6,777 (59) Other liabilities 1,250 7 (533) 24 (46) 59 (416) 8 (8) 102 38 0 0 50 535 2 Total liabilities at fair value 14,032 3,443 (4,747) 168 (156) 6,100 (5,281) 221 240 102 38 (3) (43) 751 14,865 1,061 Net assets/(liabilities) at fair value 2,332 (2,660) 1,375 5,267 (5,628) (5,353) 2,643 (161) (74) (102) 259 3 43 (3) (2,059) (960) 1 Changes in unrealized gains/(losses) on total assets at fair value and changes in unrealized (gains)/losses on total liabilities at fair value relating to assets and liabilities held at period end are included in net revenues or accumulated other comprehensive income. As of 6M21, changes in net unrealized gains/(losses) of CHF (1,003) Difference between the fair value and the unpaid principal balances of fair value option-elected financial instruments 6M22 2021 Aggregate Aggregate Aggregate Aggregate Financial instruments (CHF million) Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 82,392 82,250 142 68,623 68,565 58 Loans 9,099 10,065 (966) 10,243 11,035 (792) Other assets 1 8,099 10,456 (2,357) 8,624 10,777 (2,153) Due to banks and customer deposits (344) (424) 80 (493) (442) (51) Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions (14,239) (14,247) 8 (13,307) (13,306) (1) Short-term borrowings (10,049) (10,199) 150 (10,690) (10,996) 306 Long-term debt 2 (65,276) (77,037) 11,761 (67,788) (70,946) 3,158 Other liabilities (1,253) (1,498) 245 (1,170) (1,403) 233 Non-performing and non-interest-earning loans 3 749 2,885 (2,136) 843 2,657 (1,814) 1 Primarily loans held-for-sale. 2 Long-term debt includes both principal-protected and non-principal protected instruments. For non-principal-protected instruments, the original notional amount has been reported in the aggregate unpaid principal. 3 Included in loans or other assets. Gains and losses on financial instruments 6M22 6M21 Net Net Financial instruments (CHF million) Interest-bearing deposits with banks 5 1 18 1 of which related to credit risk (6) 8 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 412 1 306 1 Other investments (11) 2 293 3 Loans (24) 1 277 1 of which related to credit risk (224) 59 Other assets 183 1 405 1 of which related to credit risk (85) 173 Due to banks and customer deposits (43) 2 (37) 2 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions (32) 1 (29) 1 Short-term borrowings 1,069 2 (406) 2 of which related to credit risk 1 (1) Long-term debt 6,098 2 (3,347) 2 Other liabilities (66) 2 120 3 of which related to credit risk (158) 67 1 Primarily recognized in net interest income. 2 Primarily recognized in trading revenues. 3 Primarily recognized in other revenues. Gains/(losses) attributable to changes in investment-specific credit risk 1 Gains/(losses) recorded 1 in 6M22 Cumulative 6M21 6M22 6M21 Financial instruments (CHF million) Customer deposits 41 (18) 13 0 0 Short-term borrowings 0 (46) 13 0 0 Long-term debt 3,944 1,865 (21) 17 77 of which treasury debt over two years 2,041 1,177 (321) 0 0 of which structured notes over two years 1,476 351 269 17 77 Total 3,985 1,801 5 17 77 1 Amounts are reflected gross of tax. Carrying value and fair value of financial instruments not carried at fair value Carrying end of Level 1 Level 2 Level 3 Total 6M22 (CHF million) Financial assets Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 21,764 0 21,764 0 21,764 Loans 281,111 0 267,506 13,490 280,996 Other financial assets 1 175,796 158,147 17,310 351 175,808 Financial liabilities Due to banks and customer deposits 410,715 233,049 177,571 0 410,620 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 7,423 0 7,423 0 7,423 Short-term borrowings 15,518 0 15,512 0 15,512 Long-term debt 87,072 0 82,734 1,684 84,418 Other financial liabilities 2 12,302 0 11,920 384 12,304 2021 (CHF million) Financial assets Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 35,283 0 35,283 0 35,283 Loans 286,438 0 281,195 13,722 294,917 Other financial assets 1 179,217 163,307 15,457 494 179,258 Financial liabilities Due to banks and customer deposits 408,624 244,155 164,475 0 408,630 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 22,061 0 22,061 0 22,061 Short-term borrowings 14,646 0 14,646 0 14,646 Long-term debt 92,908 0 93,597 1,702 95,299 Other financial liabilities 2 12,542 0 12,105 441 12,546 1 Primarily includes cash and due from banks, interest-bearing deposits with banks, loans held-for-sale, cash collateral on derivative instruments, interest and fee receivables and non-marketable equity securities. 2 Primarily includes cash collateral on derivative instruments and interest and fee payables. |
Assets pledged and collateral
Assets pledged and collateral | 6 Months Ended |
Jun. 30, 2022 | |
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 2Q22 4Q21 CHF million Total assets pledged or assigned as collateral 75,638 88,721 of which encumbered 34,424 39,105 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 2Q22 4Q21 CHF million Fair value of collateral received with the right to sell or repledge 245,276 289,898 of which sold or repledged 101,330 144,747 |
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 2Q22 and to ”Note 36 – Assets pledged and collateral” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2021 for further information. Assets pledged end of 6M22 2021 CHF million Total assets pledged or assigned as collateral 75,638 88,721 of which encumbered 34,424 39,105 Collateral end of 6M22 2021 CHF million Fair value of collateral received with the right to sell or repledge 245,276 289,898 of which sold or repledged 101,330 144,747 |
Litigation
Litigation | 6 Months Ended |
Jun. 30, 2022 | |
Litigation | 33 Litigation The Group is involved in a number of judicial, regulatory and arbitration proceedings concerning matters arising in connection with the conduct of its businesses. The Group’s material proceedings, related provisions and estimate of the aggregate range of reasonably possible losses that are not covered by existing provisions are described in Note 40 – Litigation in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2021 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. This review includes consideration of management’s strategy for resolution of matters through settlement or trial, as well as changes in such strategy. The establishment of additional provisions or releases of litigation provisions may be necessary in the future as developments in such proceedings warrant. The specific matters described include (a) proceedings where the Group has accrued a loss contingency provision, given that it is probable that a loss may be incurred and such loss is reasonably estimable; and (b) proceedings where the Group has not accrued such a loss contingency provision for various reasons, including, but not limited to, the fact that any related losses are not reasonably estimable. The description of certain of the matters includes a statement that the Group has established a loss contingency provision and discloses the amount of such provision; for the other matters no such statement is made. With respect to the matters for which no such statement is made, either (a) the Group has not established a loss contingency provision, in which case the matter is treated as a contingent liability under the applicable accounting standard, or (b) the Group has established such a provision but believes that disclosure of that fact would violate confidentiality obligations to which the Group is subject or otherwise compromise attorney-client privilege, work product protection or other protections against disclosure or compromise the Group’s management of the matter. The future outflow of funds in respect of any matter for which the Group has accrued loss contingency provisions cannot be determined with certainty based on currently available information, and accordingly may ultimately prove to be substantially greater (or may be less) than the provision that is reflected on the Group’s balance sheet. It is inherently difficult to determine whether a loss is probable or even reasonably possible or to estimate the amount of any loss or loss range for many of the Group’s legal proceedings. Estimates, by their nature, are based on judgment and currently available information and involve a variety of factors, including, but not limited to, the type and nature of the proceeding, the progress of the matter, the advice of counsel, the Group’s defenses and its experience in similar matters, as well as its assessment of matters, including settlements, involving other defendants in similar or related cases or proceedings. Factual and legal determinations, many of which are complex, must be made before a loss, additional losses or ranges of loss can be reasonably estimated for any proceeding. Most matters pending against the Group seek damages of an indeterminate amount. While certain matters specify the damages claimed, such claimed amount may not represent the Group’s reasonably possible losses. For certain of the proceedings discussed the Group has disclosed the amount of damages claimed and certain other quantifiable information that is publicly available. The Group’s aggregate litigation provisions include estimates of losses, additional losses or ranges of loss for proceedings for which such losses are probable and can be reasonably estimated. The Group does not believe that it can estimate an aggregate range of reasonably possible losses for certain of its proceedings because of their complexity, the novelty of some of the claims, the early stage of the proceedings, the limited amount of discovery that has occurred and/or other factors. The Group’s estimate of the aggregate range of reasonably possible losses that are not covered by existing provisions for the proceedings discussed in Note 40 referenced above and updated in quarterly reports (including below) for which the Group believes an estimate is possible is zero to CHF 1.6 billion. In 2Q22, the Group recorded net litigation provisions of CHF 497 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 June 28, 2022, in an action brought by the Federal Deposit Insurance Corporation, as receiver for Colonial Bank, in the US District Court for the Southern District of New York (SDNY), in which claims against Credit Suisse Securities (USA) LLC (CSS LLC) related to approximately USD 92 million of residential mortgage-backed securities at issue, the parties executed an agreement to settle and dismiss all claims against CSS LLC. Rates-related matters Civil litigation USD LIBOR litigation On July 26, 2022, in the non-stayed putative class action brought on behalf of those who lent at rates tied to LIBOR, the SDNY entered an order granting final approval to the parties' agreement to settle all claims. CHF LIBOR litigation On July 13, 2022, in the civil putative class action lawsuit filed in the SDNY alleging manipulation of Swiss franc LIBOR to benefit defendants’ trading positions, the parties entered into an agreement to settle all claims. The settlement remains subject to court approval. SIBOR/SOR litigation On April 22, 2022, in the putative class action brought in the SDNY alleging manipulation of the Singapore Interbank Offered Rate and Singapore Swap Offer Rate to benefit defendants' trading positions, the parties entered into an agreement to settle all claims. On June 9, 2022, the court entered an order granting preliminary approval to the parties’ agreement to settle all claims. The settlement remains subject to final court approval. Foreign exchange litigation On April 4, 2022, in the consolidated putative class action brought in Israel which makes allegations similar to the consolidated putative class action filed in the SDNY alleging manipulation of foreign exchange rates, the parties entered into an agreement to settle all claims. The settlement remains subject to court approval. On July 27, 2022, in the civil action brought in the SDNY on November 13, 2018 based on the same alleged conduct as the consolidated putative class action filed in the SDNY, the parties entered into an agreement to settle all claims. Bank Bill Swap litigation On May 11, 2022, in the putative class action brought in the SDNY alleging manipulation of the Australian Bank Bill Swap reference rate, the court entered an order granting preliminary approval to the parties' agreement to settle all claims. The settlement remains subject to final court approval. Customer account matters In the civil lawsuit brought against Credit Suisse Life (Bermuda) Ltd. in Bermuda, on May 6, 2022, the Supreme Court of Bermuda issued an order awarding damages of USD 607.35 million to the plaintiff. On May 9, 2022, Credit Suisse Life (Bermuda) Ltd. appealed the decision to the Bermuda Court of Appeal. On July 25, 2022, the Supreme Court of Bermuda granted a stay of execution of its judgment pending appeal on the condition that damages awarded are paid into an escrow account within 42 days. On May 27, 2022, in the civil lawsuit brought against Credit Suisse Trust Limited, the Singapore International Commercial Court granted in part and denied in part plaintiff’s application filed on March 30, 2022 to amend its statement of claim, allowing amendments that, among other things, introduce new allegations about Credit Suisse Trust Limited’s awareness of the former Credit Suisse AG employee’s wrongdoing and that certain employees of Credit Suisse AG and/or other Credit Suisse entities allegedly acted on behalf of Credit Suisse Trust Limited in relation to the administration of the trust. On July 1, 2022, Credit Suisse Trust Limited appealed the court’s decision with respect to the allowed amendments. Mozambique matter Under the terms of the October 2021 resolution with the US Department of Justice (DOJ), Credit Suisse is required to pay restitution to any eligible investors in the 2016 Eurobonds issued by the Republic of Mozambique. At a July 22, 2022 hearing, the US District Court for the Eastern District of New York approved the joint restitution proposal of the DOJ and Credit Suisse, under which Credit Suisse will pay USD 22.6 million in restitution to eligible investors. At the hearing, Credit Suisse was also ordered to pay the USD 175.6 million net penalty set out in the October 2021 Deferred Prosecution Agreement and Plea Agreement entered into with the DOJ by Credit Suisse Group AG and Credit Suisse Securities (Europe) Ltd., respectively. Pursuant to the decree entered by FINMA announcing the conclusion of its enforcement proceeding, FINMA had ordered the bank to remediate all deficiencies identified by June 30, 2022 and has appointed an independent third party to review the implementation and effectiveness of these measures. Credit Suisse completed implementation of the majority of the measures required under the FINMA decree by June 30, 2022 and FINMA approved a three-month extension, until September 30, 2022, for three ongoing control enhancement projects. In the ongoing civil litigation brought by the Republic of Mozambique in English High Court against certain Credit Suisse entities, three former employees, and several other unrelated entities, the Republic of Mozambique is preparing to file an updated Particulars of Claim addressing Credit Suisse’s October 2021 resolutions with various regulatory and enforcement authorities, and framing its claim for consequential damages. ETN-related litigation On July 1, 2022, in the consolidated action in the SDNY brought by a putative class of purchasers 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, plaintiffs filed a motion for class certification. On July 11, 2022, in the putative class action in the SDNY brought on behalf of a putative class of short sellers of VelocityShares 3x Inverse Natural Gas Exchange Traded Notes linked to the S&P GSCI Natural Gas Index ER due February 9, 2032, Credit Suisse AG filed a motion to dismiss. Bulgarian former clients matter On June 27, 2022, Credit Suisse AG was convicted in the Swiss Federal Criminal Court of certain historical organizational inadequacies in its anti-money laundering framework and ordered to pay a fine of CHF 2 million. In addition, the court seized certain client assets in the amount of approximately CHF 12 million and ordered Credit Suisse AG to pay a compensatory claim in the amount of approximately CHF 19 million. On July 5, 2022, Credit Suisse AG appealed the decision to the Swiss Federal Court of Appeals. Communications recordkeeping matter The US Securities and Exchange Commission (SEC) and the US Commodity Futures Trading Commission (CFTC) are conducting investigations of Credit Suisse concerning compliance with records preservation requirements relating to business communications sent over unapproved electronic messaging channels. Credit Suisse is cooperating with the investigations. The SEC and CFTC have stated that they are conducting similar investigations of record preservation practices at multiple financial institutions. |
Bank | |
Litigation | 32 Litigation > Refer to “Note 33 – Litigation” in III – Condensed consolidated financial statements – unaudited in the Credit Suisse Financial Report 2Q22 for further information. |
Summary of significant accoun_2
Summary of significant accounting policies (Policies) | 6 Months Ended |
Jun. 30, 2022 | |
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, 2021 included in the Credit Suisse Annual Report 2021. 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, which, on a normal recurring basis, are necessary for a fair presentation of the condensed consolidated financial statements for the periods presented. The 1Q22 consolidated statements of operations and comprehensive income and the 1Q22 consolidated statement of changes in equity have been added for the convenience of the reader and are not a required presentation under US GAAP. The results of operations for interim periods are not indicative of results for the entire year. In preparing these condensed consolidated financial statements, management is required to make estimates and assumptions which affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the condensed consolidated balance sheets and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Revisions of prior period financial statements, Policy [Text Block] | Certain accounting changes As noted in our 2021 Annual Report, the Group identified an accounting issue that was not material to the prior period financial statements. The Group identified this accounting issue with respect to the net balance sheet treatment relating to the presentation of a limited population of certain securities lending and borrowing activities. As a result, balance sheet and cash flow positions for both assets and liabilities relating to these activities were presented on a gross basis and prior periods were revised in the consolidated financial statements and the related notes. For the quarter ended June 30, 2022, the Group has presented these securities lending and borrowing transactions as a single unit of account and as a result these transactions will no longer be presented on a gross basis. The Group did not adjust prior period financial information which continue to reflect a presentation on a gross basis. > Refer to “Note 1 – Summary of significant accounting policies” in VI – Consolidated financial statements – Credit Suisse Group in the Credit Suisse Annual Report 2021 for a description of the Group’s significant accounting policies. |
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, 2021, included in the Credit Suisse Group AG & Credit Suisse AG Annual Report 2021 (Credit Suisse Annual Report 2021). In addition, these condensed consolidated financial statements make references to the Group’s condensed consolidated financial statements in its 2Q22 and 1Q22 Financial Reports and the Group’s consolidated financial statements in the Credit Suisse Annual Report 2021. > Refer to “Note 1 – Summary of significant accounting policies” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2021 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. |
Revisions of prior period financial statements, Policy [Text Block] | Certain accounting changes As noted in the 2021 Annual Report, the Bank identified an accounting issue that was not material to the prior period financial statements. The Bank identified this accounting issue with respect to the net balance sheet treatment relating to the presentation of a limited population of certain securities lending and borrowing activities. As a result, balance sheet and cash flow positions for both assets and liabilities relating to these activities were presented on a gross basis and prior periods were revised in the consolidated financial statements and the related notes. For the half-year ended June 30, 2022, the Bank has presented these securities lending and borrowing transactions as a single unit of account and as a result these transactions will no longer be presented on a gross basis. The Bank did not adjust prior period financial information which continue to reflect a presentation on a gross basis. |
Segment information (Tables)
Segment information (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Net revenues and income/(loss) from continuing operations before taxes and total assets by segment | Net revenues and income/(loss) before taxes in 2Q22 1Q22 2Q21 6M22 6M21 Net revenues (CHF million) Wealth Management 1,266 1,177 1,913 2,443 3,998 Investment Bank 1,109 1,938 1,844 3,047 5,728 Swiss Bank 1,050 1,109 1,023 2,159 2,054 Asset Management 311 361 417 672 817 Corporate Center (91) (173) (94) (264) 80 Net revenues 3,645 4,412 5,103 8,057 12,677 Income/(loss) before taxes (CHF million) Wealth Management (96) (357) 770 (453) 1,748 Investment Bank (1,116) 124 (16) (992) (2,326) Swiss Bank 402 471 445 873 857 Asset Management 30 53 120 83 251 Corporate Center (393) (719) (506) (1,112) (474) Income/(loss) before taxes (1,173) (428) 813 (1,601) 56 Total assets end of 2Q22 1Q22 4Q21 Total assets (CHF million) Wealth Management 205,387 204,256 201,326 Investment Bank 254,561 253,958 274,112 Swiss Bank 219,151 222,152 221,478 Asset Management 3,785 3,659 3,603 Corporate Center 44,481 55,529 55,314 Total assets 727,365 739,554 755,833 |
Bank | |
Net revenues and income/(loss) from continuing operations before taxes and total assets by segment | Net revenues and income/(loss) before taxes in 6M22 6M21 Net revenues (CHF million) Wealth Management 2,443 3,998 Investment Bank 3,047 5,728 Swiss Bank 2,159 2,054 Asset Management 672 817 Adjustments 1 (191) 285 Net revenues 8,130 12,882 Income/(loss) before taxes (CHF million) Wealth Management (453) 1,748 Investment Bank (992) (2,326) Swiss Bank 873 857 Asset Management 83 251 Adjustments 1 (1,265) (515) Income/(loss) before taxes (1,754) 15 1 Adjustments represent certain consolidating entries and balances, including those relating to items that are managed but are not legally owned by the Bank and vice versa, and certain revenues and expenses that were not allocated to the segments, including such items relating to the Asset Resolution Unit. Total assets end of 6M22 2021 Total assets (CHF million) Wealth Management 205,387 201,326 Investment Bank 254,561 274,112 Swiss Bank 219,151 221,478 Asset Management 3,785 3,603 Adjustments 1 47,411 58,695 Total assets 730,295 759,214 1 Adjustments represent certain consolidating entries and balances, including those relating to items that are managed but are not legally owned by the Bank and vice versa, and certain revenues and expenses that were not allocated to the segments, including such items relating to the Asset Resolution Unit. |
Net interest income (Tables)
Net interest income (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Net interest income | in 2Q22 1Q22 2Q21 6M22 6M21 Net interest income (CHF million) Loans 1,307 1,194 1,277 2,501 2,542 Investment securities (12) 0 0 (12) 0 Trading assets, net of trading liabilities 1 561 702 656 1,263 1,502 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 386 233 311 619 652 Other 232 105 182 337 317 Interest and dividend income 2,474 2,234 2,426 4,708 5,013 Deposits (278) (54) (38) (332) (89) Short-term borrowings (16) (8) (40) (24) (42) Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions (140) (100) (209) (240) (485) Long-term debt (727) (536) (660) (1,263) (1,203) Other (118) (77) (63) (195) (124) Interest expense (1,279) (775) (1,010) (2,054) (1,943) Net interest income 1,195 1,459 1,416 2,654 3,070 1 Interest and dividend income is presented on a net basis to align with the presentation of trading revenues for trading assets and liabilities. |
Bank | |
Net interest income | in 6M22 6M21 Net interest income (CHF million) Loans 2,479 2,514 Investment securities (12) 0 Trading assets, net of trading liabilities 1 1,264 1,503 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 619 652 Other 335 318 Interest and dividend income 4,685 4,987 Deposits (330) (84) Short-term borrowings (28) 1 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions (240) (485) Long-term debt (1,205) (1,182) Other (197) (124) Interest expense (2,000) (1,874) Net interest income 2,685 3,113 1 Interest and dividend income is presented on a net basis to align with the presentation of trading revenues for trading assets and liabilities. |
Commissions and fees (Tables)
Commissions and fees (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Commissions and fees | in 2Q22 1Q22 2Q21 6M22 6M21 Commissions and fees (CHF million) Lending business 360 435 484 795 1,000 Investment and portfolio management 780 828 891 1,608 1,752 Other securities business 16 13 15 29 28 Fiduciary business 796 841 906 1,637 1,780 Underwriting 125 239 626 364 1,615 Brokerage 587 690 694 1,277 1,603 Underwriting and brokerage 712 929 1,320 1,641 3,218 Other services 362 396 448 758 897 Commissions and fees 2,230 2,601 3,158 4,831 6,895 |
Bank | |
Commissions and fees | in 6M22 6M21 Commissions and fees (CHF million) Lending business 791 997 Investment and portfolio management 1,578 1,699 Other securities business 29 29 Fiduciary business 1,607 1,728 Underwriting 370 1,664 Brokerage 1,277 1,624 Underwriting and brokerage 1,647 3,288 Other services 761 913 Commissions and fees 4,806 6,926 |
Trading revenues (Tables)
Trading revenues (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Trading revenues | in 2Q22 1Q22 2Q21 6M22 6M21 Trading revenues (CHF million) Interest rate products (1,084) (365) 154 (1,449) 906 Foreign exchange products 241 329 358 570 506 Equity/index-related products 425 84 (117) 509 884 Credit products 822 8 (271) 830 (304) Commodity and energy products (17) 59 (7) 42 2 Other products (346) (151) 36 (497) (30) Trading revenues 41 (36) 153 5 1,964 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 6M22 6M21 Trading revenues (CHF million) Interest rate products (1,445) 893 Foreign exchange products 568 497 Equity/index-related products 456 868 Credit products 830 (304) Commodity and energy products 42 2 Other products (497) (32) Trading revenues (46) 1,924 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, 2022 | |
Other revenues | in 2Q22 1Q22 2Q21 6M22 6M21 Other revenues (CHF million) Noncontrolling interests without SEI 0 0 4 0 3 Loans held-for-sale (14) (2) (58) (16) (99) Long-lived assets held-for-sale 16 165 3 181 1 Equity method investments 53 43 55 96 84 Other investments (63) 15 131 (48) 330 Other 187 167 241 354 429 Other revenues 179 388 376 567 748 |
Bank | |
Other revenues | in 6M22 6M21 Other revenues (CHF million) Loans held-for-sale (16) (99) Long-lived assets held-for-sale 181 1 Equity method investments 96 84 Other investments (48) 332 Other 472 601 Other revenues 685 919 |
Provision for credit losses (Ta
Provision for credit losses (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Provision for credit losses | in 2Q22 1Q22 2Q21 6M22 6M21 Provision for credit losses (CHF million) Loans held at amortized cost 73 41 (28) 114 (52) Other financial assets held at amortized cost 1 2 (148) 56 (146) 4,490 Off-balance sheet credit exposures (11) (3) (53) (14) (69) Provision for credit losses 64 (110) (25) (46) 4,369 1 Primarily reflects a provision/(release of provision) for credit losses of CHF 0 million, CHF (155) (155) |
Bank | |
Provision for credit losses | in 6M22 6M21 Provision for credit losses (CHF million) Loans held at amortized cost 114 (52) Other financial assets held at amortized cost 1 (147) 4,494 Off-balance sheet credit exposures (14) (69) Provision for credit losses (47) 4,373 1 Primarily reflects a provision/(release of provision) for credit losses of CHF (155) 6M22 6M21 |
Compensation and benefits (Tabl
Compensation and benefits (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Compensation and benefits | in 2Q22 1Q22 2Q21 6M22 6M21 Compensation and benefits (CHF million) Salaries and variable compensation 1,982 2,030 1,997 4,012 3,846 Social security 173 204 166 377 324 Other 1 237 224 193 461 393 Compensation and benefits 2,392 2,458 2,356 4,850 4,563 1 Includes pension-related expenses of CHF 131 million, CHF 128 million, CHF 120 million, CHF 259 million and CHF 250 million in 2Q22 1Q22 2Q21 6M22 6M21 |
Bank | |
Compensation and benefits | in 6M22 6M21 Compensation and benefits (CHF million) Salaries and variable compensation 3,518 3,449 Social security 323 278 Other 1 400 369 Compensation and benefits 4,241 4,096 1 Includes pension-related expenses of CHF 230 million and CHF 250 million in 6M22 and 6M21, 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, 2022 | |
General and administrative expenses | in 2Q22 1Q22 2Q21 6M22 6M21 General and administrative expenses (CHF million) Occupancy expenses 247 237 231 484 494 IT, machinery and equipment 462 407 383 869 756 Provisions and losses 499 710 273 1,209 330 Travel and entertainment 61 44 32 105 61 Professional services 532 521 454 1,053 827 Communication and market data services 136 131 128 267 255 Amortization and impairment of other intangible assets 1 1 2 2 4 Other 1 67 97 86 164 238 General and administrative expenses 2,005 2,148 1,589 4,153 2,965 1 Includes pension-related expenses/(credits) of CHF (49) (49) (42) (98) (94) 2Q22 1Q22 2Q21 6M22 6M21 |
Bank | |
General and administrative expenses | in 6M22 6M21 General and administrative expenses (CHF million) Occupancy expenses 441 449 IT, machinery and equipment 697 597 Provisions and losses 1,205 330 Travel and entertainment 92 52 Professional services 1,980 1,609 Communication and market data services 236 226 Amortization and impairment of other intangible assets 2 4 Other 1 342 397 General and administrative expenses 4,995 3,664 1 Includes pension-related expenses/(credits) of CHF 3 million and CHF (10) |
Restructuring expenses (Tables)
Restructuring expenses (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Restructuring and Related Costs [Table Text Block] | Restructuring expenses by type in 2Q22 1Q22 2Q21 6M22 6M21 Restructuring expenses by type (CHF million) Compensation and benefits-related expenses 65 42 2 107 13 of which severance expenses 15 13 (1) 28 6 of which deferred compensation 46 25 3 71 7 General and administrative-related expenses 15 4 43 19 57 of which pension expenses 4 0 (4) 4 (11) Total restructuring expenses 80 46 45 126 70 |
Restructuring Provisions [Table Text Block] | Restructuring liabilities 2Q22 1Q22 2Q21 Compen- General and Compen- General and Compen- General and Restructuring liabilities (CHF million) Balance at beginning of period 25 0 25 19 0 19 39 3 42 Net additional charges 1 15 10 25 13 4 17 (1) 26 25 Utilization (10) (10) (20) (7) (4) (11) (16) (26) (42) Balance at end of period 30 0 30 25 0 25 22 3 25 1 The following items for which expense accretion was accelerated in 2Q22, 1Q22 and 2Q21 due to the restructuring of the Group are not included in the restructuring provision: unsettled share-based compensation of CHF 22 million, CHF 8 million and CHF 1 million, respectively, which remain classified as a component of total shareholders' equity; other personnel-related charges of CHF 28 million, CHF 21 million and CHF 2 million, respectively, which remain classified as compensation liabilities; unsettled pension obligations of CHF 4 million, CHF 0 million and CHF (4) Restructuring liabilities (continued) 6M22 6M21 Compen- General and Compen- General and Restructuring liabilities (CHF million) Balance at beginning of period 19 0 19 50 2 52 Net additional charges 1 28 14 42 6 36 42 Utilization (17) (14) (31) (34) (35) (69) Balance at end of period 30 0 30 22 3 25 1 The following items for which expense accretion was accelerated in 6M22 and 6M21 due to the restructuring of the Group are not included in the restructuring liabilities: unsettled share-based compensation of CHF 30 million and CHF 2 million, respectively, which remain classified as a component of total shareholders' equity; other personnel-related charges of CHF 49 million and CHF 5 million, respectively, which remain classified as compensation liabilities; unsettled pension obligations of CHF 4 million and CHF (11) |
Bank | |
Restructuring and Related Costs [Table Text Block] | Restructuring expenses by type in 6M22 6M21 Restructuring expenses by type (CHF million) Compensation and benefits-related expenses 105 14 of which severance expenses 27 7 of which accelerated deferred compensation 70 7 General and administrative-related expenses 15 66 of which pension expenses 1 4 Total restructuring expenses 120 80 |
Restructuring Provisions [Table Text Block] | Restructuring liabilities 6M22 6M21 Compen- General and Compen- General and Restructuring liabilities (CHF million) Balance at beginning of period 19 0 19 47 2 49 Net additional charges 1 27 13 40 7 30 37 Utilization (17) (13) (30) (32) (29) (61) Balance at end of period 29 0 29 22 3 25 1 The following items for which expense accretion was accelerated in 6M22 and 6M21 due to the restructuring of the Bank are not included in the restructuring provision: unsettled share-based compensation of CHF 30 million and CHF 2 million, respectively, which remain classified as a compenent of total shareholders's equity; other personnel-related charges of CHF 48 million and CHF 5 million, respectively, which remain classified as compensation liabilities; unsettled pension obligations of CHF 1 million and CHF 4 million, which remain classified as pension liabilities; and accelerated accumulated depreciation and impairment of CHF 1 million and CHF 32 million, respectively, which remain classified as premises and equipment. The settlement date for the unsettled share-based compensation remains unchanged at three years. |
Earnings per share (Tables)
Earnings per share (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Earnings per share | in 2Q22 1Q22 2Q21 6M22 6M21 Basic net income/(loss) attributable to shareholders (CHF million) Net income/(loss) attributable to shareholders for basic earnings per share (1,593) (273) 253 (1,866) 1 Available for common shares (1,593) (273) 252 (1,866) 1 Available for mandatory convertible notes – – 1 – – Net income/(loss) attributable to shareholders for diluted earnings per share (1,593) (273) 253 (1,866) 1 Available for common shares (1,593) (273) 252 (1,866) 1 Available for mandatory convertible notes – – 1 – – Weighted-average shares outstanding (million) For basic earnings per share available for common shares 2,646.5 2,617.9 2,453.9 2,632.2 2,450.3 Dilutive share options and warrants 0.0 0.0 0.8 0.0 0.6 Dilutive share awards 0.0 0.0 55.1 0.0 73.6 For diluted earnings per share available for common shares 1, 2 2,646.5 2,617.9 2,509.8 2,632.2 2,524.5 Weighted-average shares outstanding for basic/diluted earnings per share available for mandatory convertible notes – – 130.8 – 65.4 Earnings/(loss) per share available for common shares (CHF) Basic earnings/(loss) per share available for common shares (0.60) (0.10) 0.10 (0.71) 0.00 Diluted earnings/(loss) per share available for common shares (0.60) (0.10) 0.10 (0.71) 0.00 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 12.4 million, 14.5 million, 9.6 million, 13.4 million and 8.1 million for 2Q22 1Q22 2Q21 6M22 6M21 2 Due to the net losses in 2Q22 1Q22 6M22 |
Revenue from contracts with c_2
Revenue from contracts with customers (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Contract with Customer, Asset and Liability [Table Text Block] | Contracts with customers and disaggregation of revenues in 2Q22 1Q22 2Q21 6M22 6M21 Contracts with customers (CHF million) Investment and portfolio management 780 828 891 1,608 1,752 Other securities business 16 13 15 29 28 Underwriting 125 239 626 364 1,615 Brokerage 586 690 693 1,276 1,601 Other services 359 394 445 753 893 Total revenues from contracts with customers 1,866 2,164 2,670 4,030 5,889 |
Revenue from External Customers by Products and Services [Table Text Block] | Contract balances end of 2Q22 1Q22 4Q21 Contract balances (CHF million) Contract receivables 769 777 865 Contract liabilities 59 58 55 Revenue recognized in the reporting period included in the contract liabilities balance at the beginning of period 10 14 9 |
Bank | |
Contract with Customer, Asset and Liability [Table Text Block] | Contracts with customers and disaggregation of revenues in 6M22 6M21 Contracts with customers (CHF million) Investment and portfolio management 1,578 1,699 Other securities business 29 29 Underwriting 370 1,664 Brokerage 1,277 1,623 Other services 786 937 Total revenues from contracts with customers 4,040 5,952 |
Revenue from External Customers by Products and Services [Table Text Block] | Contract balances end of 2Q22 1Q22 4Q21 Contract balances (CHF million) Contract receivables 802 792 865 Contract liabilities 59 58 55 Revenue recognized in the reporting period included in the contract liabilities balance at the beginning of period 10 14 9 |
Trading assets and liabilities
Trading assets and liabilities (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Trading assets and liabilities | end of 2Q22 1Q22 4Q21 Trading assets (CHF million) Debt securities 57,030 52,565 54,198 Equity securities 24,711 34,097 36,546 Derivative instruments 1 16,069 16,810 17,559 Other 3,285 3,499 2,838 Trading assets 101,095 106,971 111,141 Trading liabilities (CHF million) Short positions 14,015 15,818 16,689 Derivative instruments 1 15,952 12,366 10,846 Trading liabilities 29,967 28,184 27,535 1 Amounts shown after counterparty and cash collateral netting. |
Cash collateral receivables and payables | Cash collateral on derivative instruments end of 2Q22 1Q22 4Q21 Cash collateral on derivatives instruments – netted (CHF million) 1 Cash collateral paid 13,707 14,881 17,869 Cash collateral received 10,522 10,027 12,056 Cash collateral on derivatives instruments– not netted (CHF million) 2 Cash collateral paid 9,674 9,262 7,659 Cash collateral received 5,065 5,016 5,533 1 Recorded as cash collateral netting on derivative instruments in Note 24 – Offsetting of financial assets and financial liabilities. 2 Recorded as cash collateral on derivative instruments in Note 21 – Other assets and other liabilities. |
Bank | |
Trading assets and liabilities | end of 6M22 2021 Trading assets (CHF million) Debt securities 57,130 54,297 Equity securities 24,748 36,606 Derivative instruments 1 16,069 17,559 Other 3,285 2,837 Trading assets 101,232 111,299 Trading liabilities (CHF million) Short positions 14,015 16,693 Derivative instruments 1 15,952 10,846 Trading liabilities 29,967 27,539 1 Amounts shown after counterparty and cash collateral netting. |
Cash collateral receivables and payables | Cash collateral on derivative instruments end of 6M22 2021 Cash collateral on derivative instruments – netted (CHF million) 1 Cash collateral paid 13,707 17,869 Cash collateral received 11,102 12,056 Cash collateral on derivative instruments – not netted (CHF million) 2 Cash collateral paid 9,674 7,659 Cash collateral received 5,102 5,533 1 Recorded as cash collateral netting on derivative instruments in Note 23 – Offsetting of financial assets and financial liabilities. 2 Recorded as cash collateral on derivative instruments in Note 20 – Other assets and other liabilities. |
Investment securities (Tables)
Investment securities (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Investment securities | end of 2Q22 1Q22 4Q21 Investment securities (CHF million) Debt securities available-for-sale 739 809 1,005 Total investment securities 739 809 1,005 |
Investment securities by type | Investment securities by type 2Q22 4Q21 Gross Gross Gross Gross Investment securities by type (CHF million) Swiss federal, cantonal or local government entities 2 0 0 2 2 0 0 2 Corporate debt securities 849 0 112 737 1,011 0 8 1,003 Debt securities available-for-sale 851 0 112 739 1,013 0 8 1,005 |
Gross unrealized losses on investment securities and the related fair value | Gross unrealized losses on debt securities and related fair value Less than 12 months 12 months or more Total Gross Gross Gross 2Q22 (CHF million) Corporate debt securities 625 100 89 12 714 112 Debt securities available-for-sale 625 100 89 12 714 112 4Q21 (CHF million) Corporate debt securities 683 8 0 0 683 8 Debt securities available-for-sale 683 8 0 0 683 8 |
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 6M22 6M21 Sales of debt securities available-for-sale (CHF million) Proceeds from sales 45 0 Realized losses (6) 0 |
Amortized cost, fair value and average yield of debt securities | Amortized cost, fair value and average yield of debt securities Average 2Q22 (CHF million, except where indicated) Due within 1 year 25 25 0.67 Due from 1 to 5 years 90 83 (0.02) Due from 5 to 10 years 736 631 0.05 Debt securities available-for-sale 851 739 0.06 |
Bank | |
Investment securities | end of 6M22 2021 Investment securities (CHF million) Debt securities available-for-sale 737 1,003 Total investment securities 737 1,003 |
Investment securities by type | Investment securities by type 6M22 2021 Gross Gross Gross Gross Investment securities by type (CHF million) Corporate debt securities 849 0 112 737 1,011 0 8 1,003 Debt securities available-for-sale 849 0 112 737 1,011 0 8 1,003 |
Gross unrealized losses on investment securities and the related fair value | Gross unrealized losses on debt securities and related fair value Less than 12 months 12 months or more Total Gross Gross Gross 6M22 (CHF million) Corporate debt securities 625 100 89 12 714 112 Debt securities available-for-sale 625 100 89 12 714 112 2021 (CHF million) Corporate debt securities 683 8 0 0 683 8 Debt securities available-for-sale 683 8 0 0 683 8 Proceeds from sales, realized gains and realized losses from debt securities available-for-sale in 6M22 6M21 Sales of debt securities available-for-sale (CHF million) Proceeds from sales 45 0 Realized losses (6) 0 |
Amortized cost, fair value and average yield of debt securities | Amortized cost, fair value and average yield of debt securities Average Due within 1 year 23 23 0.43 Due from 1 to 5 years 90 83 (0.02) Due from 5 to 10 years 736 631 0.05 Debt securities available-for-sale 849 737 0.05 |
Other investments (Tables)
Other investments (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Other investments | end of 2Q22 1Q22 4Q21 Other investments (CHF million) Equity method investments 1,660 1,657 1,644 Equity securities (without a readily determinable fair value) 1 3,351 3,343 3,317 of which at net asset value 71 66 54 of which at measurement alternative 342 346 347 of which at fair value 2,890 2,884 2,869 of which at cost less impairment 48 47 47 Real estate held-for-investment 2 87 75 76 Life finance instruments 3 685 719 789 Total other investments 5,783 5,794 5,826 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 2Q22 1Q22 4Q21 3 Includes single premium immediate annuity contracts. |
Impairments and adjustments on equity securities at measurement alternative | Equity securities at measurement alternative in / end of 6M22 Cumulative 6M21 Impairments and adjustments (CHF million) Impairments and downward adjustments (4) (47) (5) Upward adjustments 0 138 0 |
Bank | |
Other investments | end of 6M22 2021 Other investments (CHF million) Equity method investments 1,652 1,636 Equity securities (without a readily determinable fair value) 1 3,349 3,315 of which at net asset value 70 53 of which at measurement alternative 340 345 of which at fair value 2,891 2,869 of which at cost less impairment 48 48 Real estate held-for-investment 2 47 48 Life finance instruments 3 685 789 Total other investments 5,733 5,788 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 6M22 and 2021, real estate held for investment included foreclosed or repossessed real estate of CHF 21 million and CHF 9 million, respectively, of which CHF 21 million and CHF 6 million, respectively, were related to residential real estate. 3 Includes single premium immediate annuity contracts. |
Impairments and adjustments on equity securities at measurement alternative | Equity securities at measurement alternative – impairments and adjustments in / end of 6M22 Cumulative 6M21 Impairments and adjustments (CHF million) Impairments and downward adjustments (4) (47) (5) Upward adjustments 0 138 0 |
Loans, allowance for loan los_2
Loans, allowance for loan losses and credit quality (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Loans | Loans end of 2Q22 1Q22 4Q21 Loans (CHF million) Mortgages 109,483 110,166 110,533 Loans collateralized by securities 45,658 47,828 51,253 Consumer finance 5,419 5,231 5,075 Consumer 160,560 163,225 166,861 Real estate 27,253 28,556 28,529 Commercial and industrial loans 68,769 68,432 69,129 Financial institutions 26,893 25,733 25,222 Governments and public institutions 3,531 3,147 3,323 Corporate & institutional 126,446 125,868 126,203 Gross loans 287,006 289,093 293,064 of which held at amortized cost 277,907 279,548 282,821 of which held at fair value 9,099 9,545 10,243 Net (unearned income)/deferred expenses (73) (81) (81) Allowance for credit losses (1,360) (1,330) (1,297) Net loans 285,573 287,682 291,686 Gross loans by location (CHF million) Switzerland 168,354 169,454 167,957 Foreign 118,652 119,639 125,107 Gross loans 287,006 289,093 293,064 Impaired loan portfolio (CHF million) Non-performing loans 1,649 1,819 1,666 Non-interest-earning loans 345 378 298 Non-accrual loans 1,994 2,197 1,964 Restructured loans 571 384 367 Potential problem loans 516 451 436 Other impaired loans 1,087 835 803 Gross impaired loans 1 3,081 3,032 2,767 1 As of the end of 2Q22, 1Q22 and 4Q21, CHF 152 million, CHF 184 million and CHF 130 million, respectively, were related to consumer mortgages secured by residential real estate for which formal foreclosure proceedings according to local requirements of the applicable jurisdiction were in process. |
Bank | |
Loans | Loans end of 6M22 2021 Loans (CHF million) Mortgages 109,483 110,533 Loans collateralized by securities 45,658 51,253 Consumer finance 5,419 5,075 Consumer 160,560 166,861 Real estate 27,253 28,529 Commercial and industrial loans 69,424 69,756 Financial institutions 34,669 33,266 Governments and public institutions 3,531 3,323 Corporate & institutional 134,877 134,874 Gross loans 295,437 301,735 of which held at amortized cost 286,338 291,492 of which held at fair value 9,099 10,243 Net (unearned income)/deferred expenses (73) (81) Allowance for credit losses (1,359) (1,296) Net loans 294,005 300,358 Gross loans by location Switzerland 176,055 175,903 Foreign 119,382 125,832 Gross loans 295,437 301,735 Impaired loans Non-performing loans 1,649 1,666 Non-interest-earning loans 334 286 Non-accrual loans 1,983 1,952 Restructured loans 571 367 Potential problem loans 516 436 Other impaired loans 1,087 803 Gross impaired loans 1 3,070 2,755 1 As of the end of 6M22 |
CECL - Financial instruments _2
CECL - Financial instruments measured at amortized cost and credit losses (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Financial instruments measured at amortized costs | Overview of financial instruments measured at amortized cost – by balance sheet position 2Q22 4Q21 1 Allowance Net 1 Allowance Net CHF million Cash and due from banks 159,307 0 159,307 164,510 0 164,510 Interest-bearing deposits with banks 856 (5) 851 1,323 4 0 1,323 Securities purchased under resale agreements and securities borrowing transactions 21,764 2 0 21,764 35,283 4 0 35,283 Loans 277,834 2,3 (1,360) 276,474 282,740 4,5 (1,297) 281,443 Brokerage receivables 19,275 2 (4,215) 15,060 20,873 4 (4,186) 16,687 Other assets 16,375 (31) 16,344 14,175 (30) 14,145 Total 495,411 (5,611) 489,800 518,904 (5,513) 513,391 1 Net of unearned income/deferred expenses, as applicable. 2 Excludes accrued interest in the total amount of CHF 358 million, with no related allowance for credit losses. Of the accrued interest balance, CHF 2 million relates to securities purchased under resale agreements and securities borrowing transactions, CHF 355 million to loans and CHF 1 million to brokerage receivables. These accrued interest balances are reported in other assets. 3 Includes endangered interest of CHF 64 million on non-accrual loans which are reported as part of the loans' amortized cost balance. 4 Excludes accrued interest in the total amount of CHF 301 million, with no related allowance for credit losses. Of the accrued interest balance, CHF 1 million relates to interest-bearing deposits with banks, CHF 1 million to securities purchased under resale agreements and securities borrowing transactions, CHF 295 million to loans and CHF 4 million to brokerage receivables. These accrued interest balances are reported in other assets. 5 Includes endangered interest of CHF 86 million on non-accrual loans which are reported as part of the loans' amortized cost balance. |
Allowance for credit losses - loans held at amortized cost | Allowance for credit losses – loans held at amortized cost 2Q22 1Q22 2Q21 Corporate & Corporate & Corporate & Allowance for credit losses (CHF million) Balance at beginning of period 369 961 1,330 357 940 1,297 329 1,198 1,527 Current-period provision for expected credit losses 21 59 80 22 33 55 31 (44) (13) of which provisions for interest 1 5 2 7 5 9 14 7 8 15 Gross write-offs (11) (51) (62) (15) (18) (33) (13) (77) (90) Recoveries 1 2 3 3 1 4 2 0 2 Net write-offs (10) (49) (59) (12) (17) (29) (11) (77) (88) Foreign currency translation impact and other adjustments, net 3 6 9 2 5 7 (4) (10) (14) Balance at end of period 383 977 1,360 369 961 1,330 345 1,067 1,412 of which individually evaluated 281 545 826 273 545 818 255 614 869 of which collectively evaluated 102 432 534 96 416 512 90 453 543 6M22 6M21 Corporate & Corporate & Allowance for credit losses (CHF million) Balance at beginning of period 357 940 1,297 318 1,218 1,536 Current-period provision for expected credit losses 43 92 135 43 (79) (36) of which provisions for interest 1 10 11 21 8 8 16 Gross write-offs (26) (69) (95) (27) (101) (128) Recoveries 4 3 7 4 0 4 Net write-offs (22) (66) (88) (23) (101) (124) Foreign currency translation impact and other adjustments, net 5 11 16 7 29 36 Balance at end of period 383 977 1,360 345 1,067 1,412 1 Represents the current-period net provision for accrued interest on non-accrual loans and lease financing transactions which is recognized as a reversal of interest income. |
CECL Macro economic factors | Selected macroeconomic factors 2Q22 4Q21 Forecast Forecast Forecast Forecast Swiss real GDP growth rate (%) Downside 1.5 0.4 (0.4) 0.3 Baseline 2.5 1.6 2.5 1.9 Upside 2.7 2.2 4.3 2.8 Eurozone real GDP growth rate (%) Downside 1.4 (1.7) (0.7) 1.4 Baseline 2.4 2.0 3.8 2.3 Upside 2.5 2.4 4.2 2.7 US real GDP growth rate (%) Downside 1.4 (0.4) 0.1 1.4 Baseline 2.7 2.3 3.8 1.9 Upside 3.0 2.8 4.5 2.4 UK real GDP growth rate (%) Downside 2.6 (1.7) (0.9) 1.0 Baseline 3.7 0.9 5.0 3.3 Upside 3.9 1.2 7.8 3.9 World industrial production (%) Downside 0.3 0.4 0.0 2.0 Baseline 2.5 2.5 3.0 3.0 Upside 3.6 4.0 4.4 3.7 Forecasts represent the 4-quarter average estimate of the respective macroeconomic factor as determined at the end of each reporting period. |
Allowance for Credit Losses on Other Financing Instruments [Table Text Block] | Allowance for credit losses – other financial assets held at amortized cost 2Q22 1Q22 2Q21 6M22 6M21 Allowance for credit losses (CHF million) Balance at beginning of period 4,102 4,216 4,488 4,216 55 Current-period provision for expected credit losses 2 (148) 56 (146) 4,490 Gross write-offs (1) (3) (4) (4) (4) Recoveries 0 0 0 0 0 Net write-offs (1) (3) (4) (4) (4) Foreign currency translation impact and other adjustments, net 148 37 (70) 185 (71) Balance at end of period 4,251 4,102 4,470 4,251 4,470 of which individually evaluated 4,232 4,084 4,450 4,232 4,450 of which collectively evaluated 19 18 20 19 20 |
Loans held at amortized cost by internal counterparty rating | Consumer loans held at amortized cost by internal counterparty rating 2Q22 4Q21 Investment Non-investment Investment Non-investment end of AAA to BBB BB to C D Total AAA to BBB BB to C D Total CHF million Mortgages 2022 / 2021 6,131 1,154 1 7,286 24,257 2,134 40 26,431 2021 / 2020 22,988 1,711 35 24,734 14,743 1,402 13 16,158 2020 / 2019 13,880 1,235 32 15,147 11,308 1,639 48 12,995 2019 / 2018 10,677 1,427 74 12,178 7,287 812 88 8,187 2018 / 2017 6,929 721 58 7,708 5,318 698 74 6,090 Prior years 38,422 2,491 327 41,240 36,790 2,359 317 39,466 Total term loans 99,027 8,739 527 108,293 99,703 9,044 580 109,327 Revolving loans 317 873 0 1,190 276 930 0 1,206 Total 99,344 9,612 527 109,483 99,979 9,974 580 110,533 Loans collateralized by securities 2022 / 2021 1,057 708 0 1,765 2,627 685 0 3,312 2021 / 2020 1,800 391 0 2,191 649 848 0 1,497 2020 / 2019 467 789 0 1,256 61 167 0 228 2019 / 2018 70 148 0 218 32 26 106 164 2018 / 2017 18 25 0 43 55 19 0 74 Prior years 1,007 258 0 1,265 804 681 0 1,485 Total term loans 4,419 2,319 0 6,738 4,228 2,426 106 6,760 Revolving loans 1 35,899 2,783 238 38,920 41,275 3,063 155 44,493 Total 40,318 5,102 238 45,658 45,503 5,489 261 51,253 Consumer finance 2022 / 2021 1,313 671 1 1,985 1,688 823 5 2,516 2021 / 2020 870 517 11 1,398 538 288 15 841 2020 / 2019 397 246 15 658 285 234 19 538 2019 / 2018 179 216 18 413 98 169 18 285 2018 / 2017 51 126 16 193 21 75 13 109 Prior years 20 116 49 185 13 76 43 132 Total term loans 2,830 1,892 110 4,832 2,643 1,665 113 4,421 Revolving loans 331 56 88 475 348 21 90 459 Total 3,161 1,948 198 5,307 2,991 1,686 203 4,880 Consumer – total 2022 / 2021 8,501 2,533 2 11,036 28,572 3,642 45 32,259 2021 / 2020 25,658 2,619 46 28,323 15,930 2,538 28 18,496 2020 / 2019 14,744 2,270 47 17,061 11,654 2,040 67 13,761 2019 / 2018 10,926 1,791 92 12,809 7,417 1,007 212 8,636 2018 / 2017 6,998 872 74 7,944 5,394 792 87 6,273 Prior years 39,449 2,865 376 42,690 37,607 3,116 360 41,083 Total term loans 106,276 12,950 637 119,863 106,574 13,135 799 120,508 Revolving loans 36,547 3,712 326 40,585 41,899 4,014 245 46,158 Total 142,823 16,662 963 160,448 148,473 17,149 1,044 166,666 1 Lombard loans are generally classified as revolving loans. Corporate & institutional loans held at amortized cost by internal counterparty rating 2Q22 4Q21 Investment Non-investment Investment Non-investment end of AAA to BBB BB to C D Total AAA to BBB BB to C D Total CHF million Real estate 2022 / 2021 2,328 1,602 0 3,930 9,568 4,682 2 14,252 2021 / 2020 8,356 3,128 1 11,485 3,709 1,355 5 5,069 2020 / 2019 3,476 931 4 4,411 1,849 706 2 2,557 2019 / 2018 1,227 583 29 1,839 925 340 1 1,266 2018 / 2017 878 284 1 1,163 475 101 0 576 Prior years 2,506 361 23 2,890 2,469 376 30 2,875 Total term loans 18,771 6,889 58 25,718 18,995 7,560 40 26,595 Revolving loans 635 223 129 987 778 297 135 1,210 Total 19,406 7,112 187 26,705 19,773 7,857 175 27,805 Commercial and industrial loans 2022 / 2021 5,697 8,373 221 14,291 8,284 11,985 136 20,405 2021 / 2020 4,437 6,334 100 10,871 3,242 4,468 62 7,772 2020 / 2019 2,024 3,456 42 5,522 2,110 3,903 105 6,118 2019 / 2018 1,865 3,073 166 5,104 1,003 2,256 177 3,436 2018 / 2017 808 1,855 87 2,750 697 937 60 1,694 Prior years 2,228 3,595 205 6,028 2,013 2,848 90 4,951 Total term loans 17,059 26,686 821 44,566 17,349 26,397 630 44,376 Revolving loans 12,877 7,342 348 20,567 13,941 7,458 372 21,771 Total 29,936 34,028 1,169 65,133 31,290 33,855 1,002 66,147 Financial institutions 2022 / 2021 4,507 789 92 5,388 6,360 2,012 51 8,423 2021 / 2020 4,131 1,353 0 5,484 2,081 201 30 2,312 2020 / 2019 1,294 176 0 1,470 660 127 1 788 2019 / 2018 482 52 1 535 522 151 1 674 2018 / 2017 532 102 1 635 87 19 0 106 Prior years 1,001 71 0 1,072 499 85 1 585 Total term loans 11,947 2,543 94 14,584 10,209 2,595 84 12,888 Revolving loans 8,405 657 137 9,199 7,542 485 1 8,028 Total 20,352 3,200 231 23,783 17,751 3,080 85 20,916 Governments and public institutions 2022 / 2021 55 17 0 72 521 26 0 547 2021 / 2020 978 31 0 1,009 157 114 0 271 2020 / 2019 160 128 0 288 94 19 19 132 2019 / 2018 102 1 11 114 46 11 0 57 2018 / 2017 55 0 0 55 28 0 0 28 Prior years 207 20 0 227 199 21 0 220 Total term loans 1,557 197 11 1,765 1,045 191 19 1,255 Revolving loans 73 0 0 73 32 0 0 32 Total 1,630 197 11 1,838 1,077 191 19 1,287 Corporate & institutional – total 2022 / 2021 12,587 10,781 313 23,681 24,733 18,705 189 43,627 2021 / 2020 17,902 10,846 101 28,849 9,189 6,138 97 15,424 2020 / 2019 6,954 4,691 46 11,691 4,713 4,755 127 9,595 2019 / 2018 3,676 3,709 207 7,592 2,496 2,758 179 5,433 2018 / 2017 2,273 2,241 89 4,603 1,287 1,057 60 2,404 Prior years 5,942 4,047 228 10,217 5,180 3,330 121 8,631 Total term loans 49,334 36,315 984 86,633 47,598 36,743 773 85,114 Revolving loans 21,990 8,222 614 30,826 22,293 8,240 508 31,041 Total 71,324 44,537 1,598 117,459 69,891 44,983 1,281 116,155 Total loans held at amortized cost by internal counterparty rating 2Q22 4Q21 Investment Non-investment Investment Non-investment end of AAA to BBB BB to C D Total AAA to BBB BB to C D Total CHF million Loans held at amortized cost – total 2022 / 2021 21,088 13,314 315 34,717 53,305 22,347 234 75,886 2021 / 2020 43,560 13,465 147 57,172 25,119 8,676 125 33,920 2020 / 2019 21,698 6,961 93 28,752 16,367 6,795 194 23,356 2019 / 2018 14,602 5,500 299 20,401 9,913 3,765 391 14,069 2018 / 2017 9,271 3,113 163 12,547 6,681 1,849 147 8,677 Prior years 45,391 6,912 604 52,907 42,787 6,446 481 49,714 Total term loans 155,610 49,265 1,621 206,496 154,172 49,878 1,572 205,622 Revolving loans 58,537 11,934 940 71,411 64,192 12,254 753 77,199 Total 214,147 61,199 2,561 277,907 1 218,364 62,132 2,325 282,821 1 1 Excludes accrued interest on loans held at amortized cost of CHF 355 million and CHF 295 million as of the end of 2Q22 and 4Q21, respectively. |
Other Financial Assets Credit Quality Indicators [Table Text Block] | Other financial assets held at amortized cost by internal counterparty rating 2Q22 4Q21 Investment Non-investment Investment Non-investment end of AAA to BBB BB to C D Total AAA to BBB BB to C D Total CHF million Other financial assets held at amortized cost 2022 / 2021 0 0 0 0 0 5 0 5 2021 / 2020 0 3 0 3 0 0 0 0 2020 / 2019 0 0 0 0 0 0 0 0 2019 / 2018 0 0 0 0 0 63 0 63 2018 / 2017 0 59 0 59 0 2 0 2 Prior years 0 3 0 3 0 2 0 2 Total term positions 0 65 0 65 0 72 0 72 Revolving positions 0 1,236 0 1,236 0 970 0 970 Total 0 1,301 0 1,301 0 1,042 0 1,042 Includes primarily mortgage servicing advances and failed purchases. |
Financing Receivable, Nonaccrual [Table Text Block] | Non-accrual loans held at amortized cost 6M22 6M21 Amortized Amortized CHF million Mortgages 572 503 1 74 418 615 2 167 Loans collateralized by securities 262 238 2 2 105 298 3 0 Consumer finance 205 200 1 1 201 200 1 1 Consumer 1,039 941 4 77 724 1,113 6 168 Real estate 167 143 0 0 324 293 6 46 Commercial and industrial loans 698 707 6 57 925 790 8 30 Financial institutions 41 192 0 3 68 63 0 0 Governments and public institutions 19 11 0 2 0 20 0 0 Corporate & institutional 925 1,053 6 62 1,317 1,166 14 76 Total loans held at amortized cost 1,964 1,994 10 139 2,041 2,279 20 244 |
Past Due Financing Receivables [Table Text Block] | Loans held at amortized cost – past due Current Past due Up to 31–60 61–90 More than 2Q22 (CHF million) Mortgages 108,879 150 15 17 422 604 109,483 Loans collateralized by securities 45,488 5 0 24 141 170 45,658 Consumer finance 4,770 320 14 53 150 537 5,307 Consumer 159,137 475 29 94 713 1,311 160,448 Real estate 26,414 64 11 0 216 291 26,705 Commercial and industrial loans 63,783 584 56 99 611 1,350 65,133 Financial institutions 23,237 448 33 10 55 546 23,783 Governments and public institutions 1,757 70 0 0 11 81 1,838 Corporate & institutional 115,191 1,166 100 109 893 2,268 117,459 Total loans held at amortized cost 274,328 1,641 129 203 1,606 3,579 277,907 1 4Q21 (CHF million) Mortgages 109,877 123 73 61 399 656 110,533 Loans collateralized by securities 51,069 42 0 0 142 184 51,253 Consumer finance 4,449 144 70 60 157 431 4,880 Consumer 165,395 309 143 121 698 1,271 166,666 Real estate 27,628 6 4 0 167 177 27,805 Commercial and industrial loans 65,327 166 13 12 629 820 66,147 Financial institutions 20,807 60 7 1 41 109 20,916 Governments and public institutions 1,252 16 0 0 19 35 1,287 Corporate & institutional 115,014 248 24 13 856 1,141 116,155 Total loans held at amortized cost 280,409 557 167 134 1,554 2,412 282,821 1 1 Excludes accrued interest on loans held at amortized cost of CHF 355 million and CHF 295 million as of the end of 2Q22 and 4Q21, respectively. |
Restructured financing receivables held at amortized cost | Restructured financing receivables held at amortized cost 2Q22 1Q22 2Q21 Recorded Recorded Recorded Recorded Recorded Recorded CHF million, except where indicated Real estate 1 102 82 0 0 0 1 2 2 Commercial and industrial loans 7 128 128 4 69 47 4 19 15 Total loans 8 230 210 4 69 47 5 21 17 6M22 6M21 Recorded Recorded Recorded Recorded CHF million, except where indicated Real estate 1 102 82 1 2 2 Commercial and industrial loans 11 197 175 14 390 382 Financial institutions 0 0 0 1 44 44 Total loans 12 299 257 16 436 428 Restructured financing receivables held at amortized cost that defaulted within 12 months from restructuring 2Q22 1Q22 2Q21 Number of Recorded Number of Recorded Number of Recorded CHF million, except where indicated Loans collateralized by securities 0 0 0 0 3 156 Total loans 0 0 0 0 3 156 6M22 6M21 Number of Recorded Number of Recorded CHF million, except where indicated Loans collateralized by securities 0 0 3 156 Total loans 0 0 3 156 |
Bank | |
Financial instruments measured at amortized costs | Overview of financial instruments measured at amortized cost – by balance sheet position 6M22 2021 1 Allowance Net 1 Allowance Net CHF million Cash and due from banks 158,535 0 158,535 163,718 0 163,718 Interest-bearing deposits with banks 785 (5) 780 1,256 4 0 1,256 Securities purchased under resale agreements and securities borrowing transactions 21,764 2 0 21,764 35,283 0 35,283 Loans 286,265 2,3 (1,359) 284,906 291,411 4,5 (1,296) 290,115 Brokerage receivables 19,277 2 (4,215) 15,062 20,875 4 (4,186) 16,689 Other assets 16,462 (29) 16,433 14,226 (28) 14,198 Total 503,088 (5,608) 497,480 526,769 (5,510) 521,259 1 Net of unearned income/deferred expenses, as applicable. 2 Excludes accrued interest in the total amount of CHF 358 million, with no 3 Includes endangered interest of CHF 63 million on non-accrual loans which are reported as part of the loans' amortized cost balance. 4 Excludes accrued interest in the total amount of CHF 301 million, with no 5 Includes endangered interest of CHF 85 million on non-accrual loans which are reported as part of the loans' amortized cost balance. |
Allowance for credit losses - loans held at amortized cost | Allowance for credit losses – loans held at amortized cost 6M22 6M21 Corporate & Corporate & CHF million Balance at beginning of period 357 939 1,296 318 1,217 1,535 Current-period provision for expected credit losses 43 92 135 43 (79) (36) of which provisions for interest 1 10 11 21 8 8 16 Gross write-offs (26) (69) (95) (27) (101) (128) Recoveries 4 3 7 4 0 4 Net write-offs (22) (66) (88) (23) (101) (124) Foreign currency translation impact and other adjustments, net 5 11 16 7 29 36 Balance at end of period 383 976 1,359 345 1,066 1,411 of which individually evaluated 281 544 825 255 613 868 of which collectively evaluated 102 432 534 90 453 543 1 Represents the current-period net provision for accrued interest on non-accrual loans and lease financing transactions which is recognized as a reversal of interest income. |
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Table Text Block] | Purchases, reclassifications and sales – loans held at amortized cost 6M22 6M21 Corporate & Corporate & CHF million Purchases 1 16 2,312 2,328 17 1,969 1,986 Reclassifications from loans held-for-sale 2 0 95 95 0 13 13 Reclassifications to loans held-for-sale 3 0 1,480 1,480 0 2,120 2,120 Sales 3 0 1,283 1,283 0 2,007 2,007 Reclassifications from loans held-for-sale and reclassifications to loans held-for-sale represent non-cash transactions. 1 Includes drawdowns under purchased loan commitments. 2 Includes loans previously reclassified to held-for-sale that were not sold and were reclassified back to loans held-to-maturity. 3 All loans held at amortized cost which are sold are reclassified to loans held-for-sale on or prior to the date of the sale. Other financial assets The current-period provision for expected credit losses on other financial assets held at amortized cost includes a release of CHF 155 million in 6M22 and a provision of CHF 4,500 million in 6M21 related to Archegos. As of the end of 6M22 and 2021, the allowance for credit losses on brokerage receivables of CHF 4,215 million and CHF 4,186 million, respectively, were primarily related to Archegos. In 6M22 and 6M21, the Group purchased other financial assets held at amortized cost amounting to CHF 381 million and CHF 32 million, respectively, primarily related to mortgage servicing advances. |
Allowance for Credit Losses on Other Financing Instruments [Table Text Block] | Allowance for credit losses – other financial assets held at amortized cost 6M22 6M21 CHF million Balance at beginning of period 4,214 48 Current-period provision for expected credit losses (147) 4,494 Gross write-offs (4) (4) Recoveries 0 0 Net write-offs (4) (4) Foreign currency translation impact and other adjustments, net 186 (70) Balance at end of period 4,249 4,468 of which individually evaluated 4,230 4,448 of which collectively evaluated 19 20 |
Loans held at amortized cost by internal counterparty rating | Consumer loans held at amortized cost by internal counterparty rating 6M22 2021 Investment Non-investment Investment Non-investment end of AAA to BBB BB to C D Total AAA to BBB BB to C D Total CHF million Mortgages 2022 / 2021 6,131 1,154 1 7,286 24,257 2,134 40 26,431 2021 / 2020 22,988 1,711 35 24,734 14,743 1,402 13 16,158 2020 / 2019 13,880 1,235 32 15,147 11,308 1,639 48 12,995 2019 / 2018 10,677 1,427 74 12,178 7,287 812 88 8,187 2018 / 2017 6,929 721 58 7,708 5,318 698 74 6,090 Prior years 38,422 2,491 327 41,240 36,790 2,359 317 39,466 Total term loans 99,027 8,739 527 108,293 99,703 9,044 580 109,327 Revolving loans 317 873 0 1,190 276 930 0 1,206 Total 99,344 9,612 527 109,483 99,979 9,974 580 110,533 Loans collateralized by securities 2022 / 2021 1,057 708 0 1,765 2,627 685 0 3,312 2021 / 2020 1,800 391 0 2,191 649 848 0 1,497 2020 / 2019 467 789 0 1,256 61 167 0 228 2019 / 2018 70 148 0 218 32 26 106 164 2018 / 2017 18 25 0 43 55 19 0 74 Prior years 1,007 258 0 1,265 804 681 0 1,485 Total term loans 4,419 2,319 0 6,738 4,228 2,426 106 6,760 Revolving loans 1 35,899 2,783 238 38,920 41,275 3,063 155 44,493 Total 40,318 5,102 238 45,658 45,503 5,489 261 51,253 Consumer finance 2022 / 2021 1,313 671 1 1,985 1,688 823 5 2,516 2021 / 2020 870 517 11 1,398 538 288 15 841 2020 / 2019 397 246 15 658 285 234 19 538 2019 / 2018 179 216 18 413 98 169 18 285 2018 / 2017 51 126 16 193 21 75 13 109 Prior years 20 116 49 185 13 76 43 132 Total term loans 2,830 1,892 110 4,832 2,643 1,665 113 4,421 Revolving loans 331 56 88 475 348 21 90 459 Total 3,161 1,948 198 5,307 2,991 1,686 203 4,880 Consumer – total 2022 / 2021 8,501 2,533 2 11,036 28,572 3,642 45 32,259 2021 / 2020 25,658 2,619 46 28,323 15,930 2,538 28 18,496 2020 / 2019 14,744 2,270 47 17,061 11,654 2,040 67 13,761 2019 / 2018 10,926 1,791 92 12,809 7,417 1,007 212 8,636 2018 / 2017 6,998 872 74 7,944 5,394 792 87 6,273 Prior years 39,449 2,865 376 42,690 37,607 3,116 360 41,083 Total term loans 106,276 12,950 637 119,863 106,574 13,135 799 120,508 Revolving loans 36,547 3,712 326 40,585 41,899 4,014 245 46,158 Total 142,823 16,662 963 160,448 148,473 17,149 1,044 166,666 1 Lombard loans are generally classified as revolving loans. Corporate & institutional loans held at amortized cost by internal counterparty rating 6M22 2021 Investment Non-investment Investment Non-investment end of AAA to BBB BB to C D Total AAA to BBB BB to C D Total CHF million Real estate 2022 / 2021 2,328 1,602 0 3,930 9,568 4,682 2 14,252 2021 / 2020 8,356 3,128 1 11,485 3,709 1,355 5 5,069 2020 / 2019 3,476 931 4 4,411 1,849 706 2 2,557 2019 / 2018 1,227 583 29 1,839 925 340 1 1,266 2018 / 2017 878 284 1 1,163 475 101 0 576 Prior years 2,506 361 23 2,890 2,469 376 30 2,875 Total term loans 18,771 6,889 58 25,718 18,995 7,560 40 26,595 Revolving loans 635 223 129 987 778 297 135 1,210 Total 19,406 7,112 187 26,705 19,773 7,857 175 27,805 Commercial and industrial loans 2022 / 2021 5,697 8,373 221 14,291 8,284 11,985 136 20,405 2021 / 2020 4,437 6,334 100 10,871 3,242 4,468 62 7,772 2020 / 2019 2,024 3,456 42 5,522 2,110 3,903 105 6,118 2019 / 2018 1,865 3,073 166 5,104 1,003 2,256 177 3,436 2018 / 2017 808 1,855 87 2,750 697 937 60 1,694 Prior years 2,228 3,595 194 6,017 2,013 2,848 78 4,939 Total term loans 17,059 26,686 810 44,555 17,349 26,397 618 44,364 Revolving loans 12,877 7,342 348 20,567 13,941 7,458 372 21,771 Total 29,936 34,028 1,158 65,122 31,290 33,855 990 66,135 Financial institutions 2022 / 2021 4,507 789 92 5,388 6,360 2,012 51 8,423 2021 / 2020 4,131 1,353 0 5,484 2,081 201 30 2,312 2020 / 2019 1,294 176 0 1,470 660 127 1 788 2019 / 2018 482 52 1 535 522 151 1 674 2018 / 2017 532 102 1 635 87 19 0 106 Prior years 1,001 71 0 1,072 499 85 1 585 Total term loans 11,947 2,543 94 14,584 10,209 2,595 84 12,888 Revolving loans 8,405 657 137 9,199 7,542 485 1 8,028 Total 20,352 3,200 231 23,783 17,751 3,080 85 20,916 Governments and public institutions 2022 / 2021 55 17 0 72 521 26 0 547 2021 / 2020 978 31 0 1,009 157 114 0 271 2020 / 2019 160 128 0 288 94 19 19 132 2019 / 2018 102 1 11 114 46 11 0 57 2018 / 2017 55 0 0 55 28 0 0 28 Prior years 207 20 0 227 199 21 0 220 Total term loans 1,557 197 11 1,765 1,045 191 19 1,255 Revolving loans 73 0 0 73 32 0 0 32 Total 1,630 197 11 1,838 1,077 191 19 1,287 Corporate & institutional – total 2022 / 2021 12,587 10,781 313 23,681 24,733 18,705 189 43,627 2021 / 2020 17,902 10,846 101 28,849 9,189 6,138 97 15,424 2020 / 2019 6,954 4,691 46 11,691 4,713 4,755 127 9,595 2019 / 2018 3,676 3,709 207 7,592 2,496 2,758 179 5,433 2018 / 2017 2,273 2,241 89 4,603 1,287 1,057 60 2,404 Prior years 5,942 4,047 217 10,206 5,180 3,330 109 8,619 Total term loans 49,334 36,315 973 86,622 47,598 36,743 761 85,102 Revolving loans 21,990 8,222 614 30,826 22,293 8,240 508 31,041 Total 71,324 44,537 1,587 117,448 69,891 44,983 1,269 116,143 Total loans held at amortized cost by internal counterparty rating 6M22 2021 Investment Non-investment Investment Non-investment end of AAA to BBB BB to C D Total AAA to BBB BB to C D Total CHF million Loans held at amortized cost – total 2022 / 2021 21,088 13,314 315 34,717 53,305 22,347 234 75,886 2021 / 2020 43,560 13,465 147 57,172 25,119 8,676 125 33,920 2020 / 2019 21,698 6,961 93 28,752 16,367 6,795 194 23,356 2019 / 2018 14,602 5,500 299 20,401 9,913 3,765 391 14,069 2018 / 2017 9,271 3,113 163 12,547 6,681 1,849 147 8,677 Prior years 45,391 6,912 593 52,896 42,787 6,446 469 49,702 Total term loans 155,610 49,265 1,610 206,485 154,172 49,878 1,560 205,610 Revolving loans 58,537 11,934 940 71,411 64,192 12,254 753 77,199 Total loans to third parties 214,147 61,199 2,550 277,896 218,364 62,132 2,313 282,809 Total loans to entities under common control 8,425 17 0 8,442 8,683 0 0 8,683 Total 222,572 61,216 2,550 286,338 1 227,047 62,132 2,313 291,492 1 1 Excludes accrued interest on loans held at amortized cost of CHF 355 million and CHF 295 million as of the end of 6M22 and 2021, respectively. |
Other Financial Assets Credit Quality Indicators [Table Text Block] | Other financial assets held at amortized cost by internal counterparty rating 6M22 2021 Investment Non-investment Investment Non-investment end of AAA to BBB BB to C D Total AAA to BBB BB to C D Total CHF million Other financial assets held at amortized cost 2022 / 2021 0 0 0 0 0 5 0 5 2021 / 2020 0 3 0 3 0 0 0 0 2020 / 2019 0 0 0 0 0 0 0 0 2019 / 2018 0 0 0 0 0 63 0 63 2018 / 2017 0 59 0 59 0 2 0 2 Prior years 0 3 0 3 0 2 0 2 Total term positions 0 65 0 65 0 72 0 72 Revolving positions 0 1,236 0 1,236 0 970 0 970 Total 0 1,301 0 1,301 0 1,042 0 1,042 Includes primarily mortgage servicing advances and failed purchases. |
Financing Receivable, Nonaccrual [Table Text Block] | Non-accrual loans held at amortized cost 6M22 6M21 Amortized Amortized CHF million Mortgages 572 503 1 74 418 615 2 167 Loans collateralized by securities 262 238 2 2 105 298 3 0 Consumer finance 205 200 1 1 201 200 1 1 Consumer 1,039 941 4 77 724 1,113 6 168 Real estate 167 143 0 0 324 293 6 46 Commercial and industrial loans 686 696 6 57 913 778 8 30 Financial institutions 41 192 0 3 68 63 0 0 Governments and public institutions 19 11 0 2 0 20 0 0 Corporate & institutional 913 1,042 6 62 1,305 1,154 14 76 Total loans held at amortized cost 1,952 1,983 10 139 2,029 2,267 20 244 |
Past Due Financing Receivables [Table Text Block] | Loans held at amortized cost – past due Current Past due Up to 31–60 61–90 More than 6M22 (CHF million) Mortgages 108,879 150 15 17 422 604 109,483 Loans collateralized by securities 45,488 5 0 24 141 170 45,658 Consumer finance 4,770 320 14 53 150 537 5,307 Consumer 159,137 475 29 94 713 1,311 160,448 Real estate 26,414 64 11 0 216 291 26,705 Commercial and industrial loans 63,783 584 56 99 600 1,339 65,122 Financial institutions 23,237 448 33 10 55 546 23,783 Governments and public institutions 1,757 70 0 0 11 81 1,838 Corporate & institutional 115,191 1,166 100 109 882 2,257 117,448 Total loans to third parties 274,328 1,641 129 203 1,595 3,568 277,896 Total loans to entities under common control 8,442 0 0 0 0 0 8,442 Total loans held at amortized cost 282,770 1,641 129 203 1,595 3,568 286,338 1 2021 (CHF million) Mortgages 109,877 123 73 61 399 656 110,533 Loans collateralized by securities 51,069 42 0 0 142 184 51,253 Consumer finance 4,449 144 70 60 157 431 4,880 Consumer 165,395 309 143 121 698 1,271 166,666 Real estate 27,628 6 4 0 167 177 27,805 Commercial and industrial loans 65,327 166 13 12 617 808 66,135 Financial institutions 20,807 60 7 1 41 109 20,916 Governments and public institutions 1,252 16 0 0 19 35 1,287 Corporate & institutional 115,014 248 24 13 844 1,129 116,143 Total loans to third parties 280,409 557 167 134 1,542 2,400 282,809 Total loans to entities under common control 8,683 0 0 0 0 0 8,683 Total loans held at amortized cost 289,092 557 167 134 1,542 2,400 291,492 1 1 Excludes accrued interest on loans held at amortized cost of CHF 355 million and CHF 295 million as of the end of 6M22 and 2021, respectively. |
Restructured financing receivables held at amortized cost | Restructured financing receivables held at amortized cost 6M22 6M21 Recorded Recorded Recorded Recorded CHF million, except where indicated Real estate 1 102 82 1 2 2 Commercial and industrial loans 11 197 175 14 390 382 Financial institutions 0 0 0 1 44 44 Total loans 12 299 257 16 436 428 |
Restructured financing receivables held at amortized cost that defaulted within 12 months from restructuring | Restructured financing receivables held at amortized cost that defaulted within 12 months from restructuring 6M22 6M21 Number of Recorded Number of Recorded CHF million, except where indicated Loans collateralized by securities 0 0 3 156 Total loans 0 0 3 156 |
Goodwill (Tables)
Goodwill (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Goodwill | Credit 1 Gross amount of goodwill (CHF million) Balance at beginning of period 1,328 5,502 489 1,114 8,445 Foreign currency translation impact 25 0 7 34 66 Other (23) 23 0 0 0 Balance at end of period 1,330 5,525 496 1,148 8,511 Accumulated impairment (CHF million) Balance at beginning of period 0 5,502 0 0 5,514 Impairment losses 0 23 0 0 23 Balance at end of period 0 5,525 0 0 5,537 Net book value (CHF million) Net book value 1,330 0 496 1,148 2,974 6M22 Gross amount of goodwill (CHF million) Balance at beginning of period 1,323 5,502 487 1,107 8,431 Foreign currency translation impact 30 0 9 41 80 Other (23) 23 0 0 0 Balance at end of period 1,330 5,525 496 1,148 8,511 Accumulated impairment (CHF million) Balance at beginning of period 0 5,502 0 0 5,514 Impairment losses 0 23 0 0 23 Balance at end of period 0 5,525 0 0 5,537 Net book value (CHF million) Net book value 1,330 0 496 1,148 2,974 1 Gross amount of goodwill and accumulated impairment include CHF 12 million related to legacy business transferred to the former Strategic Resolution Unit in 4Q15 and fully written off at the time of transfer, in addition to the divisions disclosed. |
Bank | |
Goodwill | Wealth Investment Swiss Asset 1 Gross amount of goodwill (CHF million) Balance at beginning of period 1,300 4,855 480 1,101 7,748 Foreign currency translation impact 31 0 9 41 81 Other (23) 23 0 0 0 Balance at end of period 1,308 4,878 489 1,142 7,829 Accumulated impairment (CHF million) Balance at beginning of period 0 4,855 0 0 4,867 Impairment losses 0 23 0 0 23 Balance at end of period 0 4,878 0 0 4,890 Net book value (CHF million) Net book value 1,308 0 489 1,142 2,939 1 Gross amount of goodwill and accumulated impairment include CHF 12 million related to legacy business transferred to the former Strategic Resolution Unit in 4Q15 and fully written off at the time of transfer, in addition to the divisions disclosed. |
Other assets and other liabil_2
Other assets and other liabilities (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Other assets and other liabilities | end of 2Q22 1Q22 4Q21 Other assets (CHF million) Cash collateral on derivative instruments 9,674 9,262 7,659 Cash collateral on non-derivative transactions 522 412 395 Derivative instruments used for hedging 73 0 212 Assets held-for-sale 7,559 8,679 8,020 of which loans 1 7,515 8,642 7,924 allowance for loans held-for-sale (3) (46) (44) of which real estate 2 44 36 94 of which long-lived assets 0 1 2 Premises, equipment and right-of-use assets 7,448 7,390 7,305 Assets held for separate accounts 96 96 98 Interest and fees receivable 2,959 3,012 2,884 Deferred tax assets 3,867 4,052 3,707 Prepaid expenses 1,259 1,335 509 of which cloud computing arrangement implementation costs 64 56 52 Failed purchases 1,041 1,111 1,307 Defined benefit pension and post-retirement plan assets 4,376 4,306 4,215 Other 5,062 4,732 4,920 of which digital asset safeguarding assets 31 – – Other assets 43,936 44,387 41,231 Other liabilities (CHF million) Cash collateral on derivative instruments 5,065 5,016 5,533 Cash collateral on non-derivative transactions 892 536 528 Derivative instruments used for hedging 4 115 10 Operating leases liabilities 2,536 2,611 2,591 Provisions 2,612 2,187 1,925 of which expected credit losses on off-balance sheet credit exposures 248 255 257 Restructuring liabilities 30 25 19 Liabilities held for separate accounts 96 96 98 Interest and fees payable 3,894 3,823 3,969 Current tax liabilities 641 648 685 Deferred tax liabilities 1,043 793 754 Failed sales 1,731 1,532 1,736 Defined benefit pension and post-retirement plan liabilities 349 351 353 Other 4,169 4,245 4,443 of which digital asset safeguarding liabilities 31 – – Other liabilities 23,062 21,978 22,644 1 Included as of the end of 2Q22 1Q22 4Q21 2 As of the end of 2Q22 1Q22 4Q21 |
Bank | |
Other assets and other liabilities | end of 6M22 2021 Other assets (CHF million) Cash collateral on derivative instruments 9,674 7,659 Cash collateral on non-derivative transactions 522 395 Derivative instruments used for hedging 73 212 Assets held-for-sale 7,559 8,020 of which loans 1 7,515 7,924 allowance for loans held-for-sale (3) (44) of which real estate 2 44 94 of which long-lived assets 0 2 Premises, equipment and right-of-use assets 6,302 6,140 Assets held for separate accounts 96 98 Interest and fees receivable 2,985 2,934 Deferred tax assets 3,825 3,666 Prepaid expenses 1,113 394 of which cloud computing arrangement implementation costs 58 46 Failed purchases 1,041 1,307 Defined benefit pension and post-retirement plan assets 924 974 Other 5,111 4,916 of which digital asset safeguarding assets 31 – Other assets 39,225 36,715 Other liabilities (CHF million) Cash collateral on derivative instruments 5,102 5,533 Cash collateral on non-derivative transactions 892 528 Derivative instruments used for hedging 4 10 Operating leases liabilities 1,833 1,861 Provisions 2,598 1,912 of which expected credit losses on off-balance sheet credit exposures 248 257 Restructuring liabilities 29 19 Liabilities held for separate accounts 96 98 Interest and fees payable 3,887 3,930 Current tax liabilities 628 671 Deferred tax liabilities 358 122 Failed sales 1,731 1,736 Defined benefit pension and post-retirement plan liabilities 339 343 Other 4,320 4,546 of which digital asset safeguarding liabilities 31 – Other liabilities 21,817 21,309 1 Included as of the end of 6M22 and 2021 were CHF 246 million and CHF 391 million, respectively, in restricted loans, which represented collateral on secured borrowings. 2 As of the end of 6M22 and 2021, real estate held-for-sale included foreclosed or repossessed real estate of CHF 27 million and CHF 8 million, respectively, of which CHF 27 million and CHF 8 million, respectively, were related to residential real estate. |
Long-term debt (Tables)
Long-term debt (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Long-term debt | Long-term debt end of 2Q22 1Q22 4Q21 Long-term debt (CHF million) Senior 135,729 135,746 141,402 Subordinated 20,456 23,099 24,103 Non-recourse liabilities from consolidated VIEs 1,825 1,475 1,391 Long-term debt 158,010 160,320 166,896 of which reported at fair value 66,140 66,270 68,722 of which structured notes 41,893 42,086 43,126 |
Schedule of Structured notes | Structured notes by product end of 2Q22 1Q22 4Q21 Structured notes by product (CHF million) Equity 25,595 28,224 28,681 Fixed income 13,524 11,081 11,678 Credit 2,342 2,385 2,363 Other 432 396 404 Total structured notes 41,893 42,086 43,126 |
Bank | |
Long-term debt | Long-term debt end of 6M22 2021 Long-term debt (CHF million) Senior 91,458 95,468 Subordinated 59,065 63,836 Non-recourse liabilities from consolidated VIEs 1,825 1,391 Long-term debt 152,348 160,695 of which reported at fair value 65,276 67,788 of which structured notes 41,893 43,126 |
Schedule of Structured notes | Structured notes by product end of 6M22 2021 Structured notes by product (CHF million) Equity 25,595 28,681 Fixed income 13,524 11,678 Credit 2,342 2,363 Other 432 404 Total structured notes 41,893 43,126 |
Accumulated other comprehensi_2
Accumulated other comprehensive income (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Accumulated other comprehensive income | Accumulated other comprehensive income/(loss) 1 Gains/ 2Q22 (CHF million) Balance at beginning of period (694) (16,560) 8 (2,644) 348 (1,104) (20,646) Increase/(decrease) (127) 765 (1) 1 0 2,546 3,184 Reclassification adjustments, included in net income/(loss) (123) 0 0 60 (18) 6 (75) Total increase/(decrease) (250) 765 (1) 61 (18) 2,552 3,109 Balance at end of period (944) (15,795) 7 (2,583) 330 1,448 (17,537) 1Q22 (CHF million) Balance at beginning of period (95) (16,739) 13 (2,705) 365 (2,165) (21,326) Increase/(decrease) (601) 179 (5) (1) 0 1,050 622 Reclassification adjustments, included in net income/(loss) 2 0 0 62 (17) 11 58 Total increase/(decrease) (599) 179 (5) 61 (17) 1,061 680 Balance at end of period (694) (16,560) 8 (2,644) 348 (1,104) (20,646) 2Q21 (CHF million) Balance at beginning of period 103 (15,534) 13 (3,662) 432 (2,019) (20,667) Increase/(decrease) (19) (471) 0 (89) 0 (514) (1,093) Reclassification adjustments, included in net income/(loss) (22) 0 0 78 (24) 31 63 Total increase/(decrease) (41) (471) 0 (11) (24) (483) (1,030) Balance at end of period 62 (16,005) 13 (3,673) 408 (2,502) (21,697) 6M22 (CHF million) Balance at beginning of period (95) (16,739) 13 (2,705) 365 (2,165) (21,326) Increase/(decrease) (728) 944 (6) 0 0 3,596 3,806 Reclassification adjustments, included in net income/(loss) (121) 0 0 122 (35) 17 (17) Total increase/(decrease) (849) 944 (6) 122 (35) 3,613 3,789 Balance at end of period (944) (15,795) 7 (2,583) 330 1,448 (17,537) 6M21 (CHF million) Balance at beginning of period 206 (17,528) 13 (3,727) 456 (2,570) (23,150) Increase/(decrease) (110) 1,523 0 (92) 0 (9) 1,312 Reclassification adjustments, included in net income/(loss) (34) 0 0 146 (48) 77 141 Total increase/(decrease) (144) 1,523 0 54 (48) 68 1,453 Balance at end of period 62 (16,005) 13 (3,673) 408 (2,502) (21,697) 1 No impairments on available-for-sale debt securities were recognized in net income/(loss) in 2Q22, 1Q22, 2Q21, 6M22 and 6M21. |
Details on significant reclassification adjustments | Details of significant reclassification adjustments in 2Q22 1Q22 2Q21 6M22 6M21 Reclassification adjustments, included in net income/(loss) (CHF million) Actuarial gains/(losses) Amortization of recognized actuarial losses 1 74 76 95 150 178 Tax expense/(benefit) (14) (14) (17) (28) (32) Net of tax 60 62 78 122 146 Net prior service credit/(cost) Amortization of recognized prior service credit/(cost) 1 (22) (21) (29) (43) (59) Tax expense 4 4 5 8 11 Net of tax (18) (17) (24) (35) (48) 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 2Q22 1Q22 2Q21 6M22 6M21 Common shares issued Balance at beginning of period 2,650,747,720 2,650,747,720 2,447,747,720 2,650,747,720 2,447,747,720 Issuance of common shares 0 0 203,000,000 0 203,000,000 Balance at end of period 2,650,747,720 2,650,747,720 2,650,747,720 2,650,747,720 2,650,747,720 Treasury shares Balance at beginning of period (94,644,251) (81,063,211) (83,737,482) (81,063,211) (41,602,841) Sale of treasury shares 514,073,330 578,094,705 510,392,920 1,092,168,035 1,063,124,303 Repurchase of treasury shares (507,466,029) (597,407,387) (514,715,462) (1,104,873,416) (1,114,034,798) Issuance of common shares relating to mandatory convertible notes 0 0 (203,000,000) 0 (203,000,000) Conversion of mandatory convertible notes 0 0 106,805 0 106,805 Share-based compensation 48,048,471 5,731,642 51,473,883 53,780,113 55,927,195 Balance at end of period (39,988,479) (94,644,251) (239,479,336) (39,988,479) (239,479,336) Common shares outstanding Balance at end of period 2,610,759,241 1 2,556,103,469 2 2,411,268,384 2 2,610,759,241 1 2,411,268,384 2 1 At par value CHF 0.04 each, fully paid. In addition to the treasury shares, a maximum of 575,000,000 unissued shares (conditional, conversion and authorized capital) were available for issuance without further approval of the shareholders. 111,524,164 of these shares were reserved for capital instruments. 2 At par value CHF 0.04 each, fully paid. In addition to the treasury shares, a maximum of 450,000,000 unissued shares (conditional, conversion and authorized capital) were available for issuance without further approval of the shareholders. 111,524,164 of these shares were reserved for capital instruments. |
Bank | |
Accumulated other comprehensive income | Accumulated other comprehensive income/(loss) Unrealized 1 Gains/ 6M22 (CHF million) Balance at beginning of period (95) (16,760) 13 (429) (6) (2,082) (19,359) Increase/(decrease) (727) 934 (6) 0 (1) 3,516 3,716 Reclassification adjustments, included in net income/(loss) (121) 0 0 4 1 17 (99) Total increase/(decrease) (848) 934 (6) 4 0 3,533 3,617 Balance at end of period (943) (15,826) 7 (425) (6) 1,451 (15,742) 6M21 (CHF million) Balance at beginning of period 205 (17,517) 13 (460) (11) (2,469) (20,239) Increase/(decrease) (109) 1,473 0 (85) (1) (5) 1,273 Reclassification adjustments, included in net income/(loss) (34) 0 0 0 1 77 44 Total increase/(decrease) (143) 1,473 0 (85) 0 72 1,317 Balance at end of period 62 (16,044) 13 (545) (11) (2,397) (18,922) 1 No impairments on available-for-sale debt securities were recognized in net income/(loss) in 6M22 and 6M21. |
Details on significant reclassification adjustments | Details on significant reclassification adjustments in 6M22 6M21 Reclassification adjustments, included in net income/(loss) (CHF million) Actuarial gains/(losses) Amortization of recognized actuarial losses 1 5 (2) Tax expense/(benefit) (1) 2 Net of tax 4 0 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, 2022 | |
Offsetting of derivatives | Offsetting of derivatives 2Q22 4Q21 Derivative Derivative Derivative Derivative Gross derivatives subject to enforceable master netting agreements (CHF billion) OTC-cleared 12.9 14.8 4.4 4.0 OTC 29.1 26.9 44.4 40.3 Exchange-traded (0.1) 0.0 0.1 0.0 Interest rate products 41.9 41.7 48.9 44.3 OTC-cleared 0.3 0.5 0.2 0.2 OTC 29.8 29.8 20.0 22.0 Exchange-traded 0.1 0.0 0.0 0.0 Foreign exchange products 30.2 30.3 20.2 22.2 OTC 6.5 9.4 8.2 13.0 Exchange-traded 21.8 25.1 22.7 21.4 Equity/index-related products 28.3 34.5 30.9 34.4 OTC-cleared 0.4 0.4 1.3 1.4 OTC 2.9 3.5 3.3 4.3 Credit derivatives 3.3 3.9 4.6 5.7 OTC 1.3 0.6 1.4 0.5 Exchange-traded 0.1 0.1 0.1 0.1 Other products 1 1.4 0.7 1.5 0.6 OTC-cleared 13.6 15.7 5.9 5.6 OTC 69.6 70.2 77.3 80.1 Exchange-traded 21.9 25.2 22.9 21.5 Total gross derivatives subject to enforceable master netting agreements 105.1 111.1 106.1 107.2 Offsetting (CHF billion) OTC-cleared (13.6) (15.3) (5.6) (5.3) OTC (59.4) (62.3) (68.4) (74.6) Exchange-traded (21.9) (22.2) (21.0) (21.0) Offsetting (94.9) (99.8) (95.0) (100.9) of which counterparty netting (84.4) (84.4) (83.0) (83.0) of which cash collateral netting (10.5) (15.4) (12.0) (17.9) Net derivatives presented in the consolidated balance sheets (CHF billion) OTC-cleared 0.0 0.4 0.3 0.3 OTC 10.2 7.9 8.9 5.5 Exchange-traded 0.0 3.0 1.9 0.5 Total net derivatives subject to enforceable master netting agreements 10.2 11.3 11.1 6.3 Total derivatives not subject to enforceable master netting agreements 2 6.0 4.4 6.7 4.3 Total net derivatives presented in the consolidated balance sheets 16.2 15.7 17.8 10.6 of which recorded in trading assets and trading liabilities 16.1 15.7 17.6 10.6 of which recorded in other assets and other liabilities 0.1 0.0 0.2 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 2Q22 4Q21 Net Net Securities purchased under resale agreements and securities borrowing transactions (CHF billion) Securities purchased under resale agreements 88.7 (14.3) 74.4 74.1 (16.6) 57.5 Securities borrowing transactions 7.5 0.0 7.5 22.2 0.0 22.2 Total subject to enforceable master netting agreements 96.2 (14.3) 81.9 96.3 (16.6) 79.7 Total not subject to enforceable master netting agreements 1 22.3 – 22.3 24.2 – 24.2 Total 118.5 (14.3) 104.2 2 120.5 (16.6) 103.9 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 82,392 million and CHF 68,623 million of the total net amount as of the end of 2Q22 and 4Q21, 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 2Q22 4Q21 Net Net Securities sold under repurchase agreements and securities lending transactions (CHF billion) Securities sold under repurchase agreements 31.0 (14.3) 16.7 32.2 (16.6) 15.6 Securities lending transactions 0.6 0.0 0.6 15.4 0.0 15.4 Obligation to return securities received as collateral, at fair value 7.3 0.0 7.3 14.7 0.0 14.7 Total subject to enforceable master netting agreements 38.9 (14.3) 24.6 62.3 (16.6) 45.7 Total not subject to enforceable master netting agreements 1 4.4 – 4.4 4.6 – 4.6 Total 43.3 (14.3) 29.0 66.9 (16.6) 50.3 of which securities sold under repurchase agreements and securities lending transactions 35.9 (14.3) 21.6 2 51.9 (16.6) 35.3 2 of which obligation to return securities received as collateral, at fair value 7.4 0.0 7.4 15.0 0.0 15.0 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 14,145 million and CHF 13,213 million of the total net amount as of the end of 2Q22 and 4Q21, respectively, are reported at fair value. |
Amounts not offset in the consolidated balance sheets | Amounts not offset in the consolidated balance sheets 2Q22 4Q21 1 Cash 1 1 Cash 1 Financial assets subject to enforceable master netting agreements (CHF billion) Derivatives 10.2 4.6 0.3 5.3 11.1 4.5 0.0 6.6 Securities purchased under resale agreements 74.4 74.2 0.2 0.0 57.5 57.5 0.0 0.0 Securities borrowing transactions 7.5 7.4 0.0 0.1 22.2 21.9 0.0 0.3 Total financial assets subject to enforceable master netting agreements 92.1 86.2 0.5 5.4 90.8 83.9 0.0 6.9 Financial liabilities subject to enforceable master netting agreements (CHF billion) Derivatives 11.3 1.9 0.0 9.4 6.3 1.3 0.0 5.0 Securities sold under repurchase agreements 16.7 16.5 0.2 0.0 15.6 15.5 0.1 0.0 Securities lending transactions 0.6 0.6 0.0 0.0 15.4 15.3 0.0 0.1 Obligation to return securities received as collateral, at fair value 7.3 6.7 0.0 0.6 14.7 13.0 0.0 1.7 Total financial liabilities subject to enforceable master netting agreements 35.9 25.7 0.2 10.0 52.0 45.1 0.1 6.8 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 6M22 2021 Derivative Derivative Derivative Derivative Gross derivatives subject to enforceable master netting agreements (CHF billion) OTC-cleared 12.9 14.8 4.4 4.0 OTC 29.7 26.9 44.5 40.3 Exchange-traded (0.1) 0.0 0.1 0.0 Interest rate products 42.5 41.7 49.0 44.3 OTC-cleared 0.3 0.5 0.2 0.2 OTC 29.8 29.8 20.0 22.0 Exchange-traded 0.1 0.0 0.0 0.0 Foreign exchange products 30.2 30.3 20.2 22.2 OTC 6.5 9.4 8.2 13.0 Exchange-traded 21.8 25.1 22.7 21.4 Equity/index-related products 28.3 34.5 30.9 34.4 OTC-cleared 0.4 0.4 1.3 1.4 OTC 2.9 3.5 3.3 4.3 Credit derivatives 3.3 3.9 4.6 5.7 OTC 1.3 0.6 1.4 0.5 Exchange-traded 0.1 0.1 0.1 0.1 Other products 1 1.4 0.7 1.5 0.6 OTC-cleared 13.6 15.7 5.9 5.6 OTC 70.2 70.2 77.4 80.1 Exchange-traded 21.9 25.2 22.9 21.5 Total gross derivatives subject to enforceable master netting agreements 105.7 111.1 106.2 107.2 Offsetting (CHF billion) OTC-cleared (13.6) (15.3) (5.6) (5.3) OTC (60.0) (62.3) (68.5) (74.6) Exchange-traded (21.9) (22.2) (21.0) (21.0) Offsetting (95.5) (99.8) (95.1) (100.9) of which counterparty netting (84.4) (84.4) (83.0) (83.0) of which cash collateral netting (11.1) (15.4) (12.1) (17.9) Net derivatives presented in the consolidated balance sheets (CHF billion) OTC-cleared 0.0 0.4 0.3 0.3 OTC 10.2 7.9 8.9 5.5 Exchange-traded 0.0 3.0 1.9 0.5 Total net derivatives subject to enforceable master netting agreements 10.2 11.3 11.1 6.3 Total derivatives not subject to enforceable master netting agreements 2 6.0 4.4 6.7 4.3 Total net derivatives presented in the consolidated balance sheets 16.2 15.7 17.8 10.6 of which recorded in trading assets and trading liabilities 16.1 15.7 17.6 10.6 of which recorded in other assets and other liabilities 0.1 0.0 0.2 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 6M22 2021 Net Net Securities purchased under resale agreements and securities borrowing transactions (CHF billion) Securities purchased under resale agreements 88.7 (14.3) 74.4 74.1 (16.6) 57.5 Securities borrowing transactions 7.5 0.0 7.5 22.2 0.0 22.2 Total subject to enforceable master netting agreements 96.2 (14.3) 81.9 96.3 (16.6) 79.7 Total not subject to enforceable master netting agreements 1 22.3 – 22.3 24.2 – 24.2 Total 118.5 (14.3) 104.2 2 120.5 (16.6) 103.9 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 82,392 million and CHF 68,623 million of the total net amount as of the end of 6M22 and 2021, 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 6M22 2021 Net Net Securities sold under repurchase agreements and securities lending transactions (CHF billion) Securities sold under repurchase agreements 31.1 (14.3) 16.8 32.3 (16.6) 15.7 Securities lending transactions 0.6 0.0 0.6 15.4 0.0 15.4 Obligation to return securities received as collateral, at fair value 7.3 0.0 7.3 14.7 0.0 14.7 Total subject to enforceable master netting agreements 39.0 (14.3) 24.7 62.4 (16.6) 45.8 Total not subject to enforceable master netting agreements 1 4.4 – 4.4 4.6 – 4.6 Total 43.4 (14.3) 29.1 67.0 (16.6) 50.4 of which securities sold under repurchase agreements and securities lending transactions 36.0 (14.3) 21.7 2 52.0 (16.6) 35.4 2 of which obligation to return securities received as collateral, at fair value 7.4 0.0 7.4 15.0 0.0 15.0 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 14,239 million and CHF 13,307 million of the total net amount as of the end of 6M22 and 2021, respectively, are reported at fair value. |
Amounts not offset in the consolidated balance sheets | Amounts not offset in the consolidated balance sheets 6M22 2021 1 Cash 1 1 Cash 1 Financial assets subject to enforceable master netting agreements (CHF billion) Derivatives 10.2 4.6 0.3 5.3 11.1 4.5 0.0 6.6 Securities purchased under resale agreements 74.4 74.2 0.2 0.0 57.5 57.5 0.0 0.0 Securities borrowing transactions 7.5 7.4 0.0 0.1 22.2 21.9 0.0 0.3 Total financial assets subject to enforceable master netting agreements 92.1 86.2 0.5 5.4 90.8 83.9 0.0 6.9 Financial liabilities subject to enforceable master netting agreements (CHF billion) Derivatives 11.3 1.9 0.0 9.4 6.3 1.3 0.0 5.0 Securities sold under repurchase agreements 16.8 16.6 0.2 0.0 15.7 15.6 0.1 0.0 Securities lending transactions 0.6 0.6 0.0 0.0 15.4 15.3 0.0 0.1 Obligation to return securities received as collateral, at fair value 7.3 6.7 0.0 0.6 14.7 13.0 0.0 1.7 Total financial liabilities subject to enforceable master netting agreements 36.0 25.8 0.2 10.0 52.1 45.2 0.1 6.8 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, 2022 | |
Reconciliation of taxes computed at the Swiss statutory rate | Tax expense reconciliation in 2Q22 Income tax expense computed at the Swiss statutory tax rate of 18.5% (CHF million) (217) Increase/(decrease) in income taxes resulting from Foreign tax rate differential (37) Other non-deductible expenses 142 Changes in deferred tax valuation allowance 142 Lower taxed income (31) Income taxable to noncontrolling interests 2 (Windfall tax benefits)/shortfall tax charges on share-based compensation 51 Change in accounting estimate 350 Other 17 Income tax expense 419 |
Effective tax rate | Effective tax rate in 2Q22 1Q22 2Q21 6M22 6M21 Effective tax rate (%) (35.7) 35.3 69.6 (16.7) 71.4 |
Net deferred tax assets | Net deferred tax assets end of 2Q22 1Q22 Net deferred tax assets (CHF million) Deferred tax assets 3,867 4,052 of which net operating losses 1,124 1,307 of which deductible temporary differences 2,743 2,745 Deferred tax liabilities (1,043) (793) Net deferred tax assets 2,824 3,259 |
Bank | |
Reconciliation of taxes computed at the Swiss statutory rate | Tax expense reconciliation in 6M22 Income tax expense computed at the Swiss statutory tax rate of 18.5% (CHF million) (324) Increase/(decrease) in income taxes resulting from Foreign tax rate differential 18 Changes in tax law and rates 17 Other non-deductible expenses 253 Changes in deferred tax valuation allowance 250 Lower taxed income (67) (Windfall tax benefits)/shortfall tax charges on share-based compensation 61 Other 13 Income tax expense 221 |
Effective tax rate | Effective tax rate in 6M22 6M21 Effective tax rate (%) (12.6) 40.0 |
Net deferred tax assets | Net deferred tax assets end of 6M22 2021 Net deferred tax assets (CHF million) Deferred tax assets 3,825 3,666 of which net operating losses 1,121 877 of which deductible temporary differences 2,704 2,789 Deferred tax liabilities (358) (122) Net deferred tax assets 3,467 3,544 |
Employee deferred compensation
Employee deferred compensation (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Share-based compensation disclosures | |
Deferred compensation expense | Deferred compensation expense in 2Q22 1Q22 2Q21 6M22 6M21 Deferred compensation expense (CHF million) Share awards 85 94 142 179 276 Performance share awards 47 55 111 102 220 Contingent Capital Awards (9) 34 83 25 144 Cash awards 199 102 102 301 151 Retention awards 33 30 26 63 39 Strategic Delivery Plan 69 53 – 122 – Total deferred compensation expense 424 368 464 792 830 |
Additional information | Estimated unrecognized deferred compensation end of 2Q22 Estimated unrecognized compensation expense (CHF million) Share awards 385 Performance share awards 173 Contingent Capital Awards 130 Cash awards 986 Retention awards 206 Strategic Delivery Plan 436 Total 2,316 Aggregate remaining weighted-average requisite service period (years) Aggregate remaining weighted-average requisite service period 1.3 Cash awards Deferred fixed cash awards |
Share-based award activities | Share-based award activity 2Q22 6M22 Performance Strategic Performance Strategic Share-based award activities Balance at beginning of period 170.8 90.0 62.6 143.8 77.2 0.0 Granted 4.7 0.0 0.0 39.2 19.1 62.6 Settled (45.2) (25.1) 0.0 (50.0) (30.2) 0.0 Forfeited (2.5) (0.6) (0.5) (5.2) (1.8) (0.5) Balance at end of period 127.8 64.3 62.1 127.8 64.3 62.1 of which vested 17.6 10.6 1.1 17.6 10.6 1.1 of which unvested 110.2 53.7 61.0 110.2 53.7 61.0 |
Bank | |
Share-based compensation disclosures | |
Deferred compensation expense | Deferred compensation expense in 6M22 6M21 Deferred compensation expense (CHF million) Share awards 171 266 Performance share awards 95 213 Contingent Capital Awards 24 140 Cash awards 291 169 Retention awards 61 39 Strategic Delivery Plan 116 – Total deferred compensation expense 758 827 |
Additional information | Estimated unrecognized deferred compensation end of 6M22 Estimated unrecognized compensation expense (CHF million) Share awards 369 Performance share awards 165 Contingent Capital Awards 124 Cash awards 953 Retention awards 203 Strategic Delivery Plan 413 Total 2,227 Aggregate remaining weighted-average requisite service period (years) Aggregate remaining weighted-average requisite service period 1.3 |
Share-based award activities | Share-based award activity 6M22 Performance Strategic Share-based award activities Balance at beginning of period 135.3 73.8 0.0 Granted 36.3 18.3 59.4 Settled (47.0) (29.0) 0.0 Forfeited (5.3) (1.8) (0.6) Balance at end of period 119.3 61.3 58.8 of which vested 15.6 9.9 1.0 of which unvested 103.7 51.4 57.8 |
Pension and other post-retire_2
Pension and other post-retirement benefits (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Components of total pension costs | Components of net periodic benefit costs in 2Q22 1Q22 2Q21 6M22 6M21 Net periodic benefit costs/(credits) (CHF million) Service costs on benefit obligation 65 65 60 130 120 Interest costs on benefit obligation 25 25 15 50 30 Expected return on plan assets (126) (126) (120) (252) (243) Amortization of recognized prior service cost/(credit) (22) (21) (31) (43) (60) Amortization of recognized actuarial losses 72 73 93 145 186 Settlement losses/(gains) 2 3 2 5 (8) Curtailment losses/(gains) 0 0 2 0 1 Special termination benefits 1 1 3 2 13 Net periodic benefit costs 17 20 24 37 39 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 in restructuring expenses. |
Bank | |
Components of total pension costs | Components of net periodic benefit costs in 6M22 6M21 Net periodic benefit costs/(credits) (CHF million) Service costs on benefit obligation 8 7 Interest costs on benefit obligation 30 25 Expected return on plan assets (33) (34) Amortization of recognized prior service cost/(credit) 1 1 Amortization of recognized actuarial losses 5 8 Settlement losses/(gains) 0 (10) Net periodic benefit costs 11 (3) Service costs on benefit obligation are reflected in compensation and benefits. Other components of net periodic benefit costs are reflected in general and administrative expenses. |
Derivatives and hedging activ_2
Derivatives and hedging activities (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
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 2,133.5 4.4 4.3 0.0 0.0 0.0 Swaps 8,950.3 30.9 28.9 122.7 0.1 1.8 Options bought and sold (OTC) 737.8 8.3 8.3 0.0 0.0 0.0 Futures 172.0 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 24.5 0.0 0.0 0.0 0.0 0.0 Interest rate products 12,018.1 43.6 41.5 122.7 0.1 1.8 Forwards 1,027.6 13.5 14.0 19.6 0.4 0.2 Swaps 343.8 14.3 14.0 0.0 0.0 0.0 Options bought and sold (OTC) 181.8 3.1 3.0 0.0 0.0 0.0 Futures 10.0 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 2.3 0.0 0.0 0.0 0.0 0.0 Foreign exchange products 1,565.5 30.9 31.0 19.6 0.4 0.2 Forwards 0.8 0.0 0.0 0.0 0.0 0.0 Swaps 57.9 2.4 2.2 0.0 0.0 0.0 Options bought and sold (OTC) 223.2 7.0 8.5 0.0 0.0 0.0 Futures 46.9 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 488.7 21.8 25.2 0.0 0.0 0.0 Equity/index-related products 817.5 31.2 35.9 0.0 0.0 0.0 Credit derivatives 2 434.4 3.4 4.3 0.0 0.0 0.0 Forwards 10.7 0.1 0.1 0.0 0.0 0.0 Swaps 12.5 1.0 0.6 0.0 0.0 0.0 Options bought and sold (OTC) 12.0 0.3 0.1 0.0 0.0 0.0 Futures 10.6 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 8.6 0.1 0.0 0.0 0.0 0.0 Other products 3 54.4 1.5 0.8 0.0 0.0 0.0 Total derivative instruments 14,889.9 110.6 113.5 142.3 0.5 2.0 The notional amount, PRV and NRV (trading and hedging) was CHF 15,032.2 billion, CHF 111.1 billion and CHF 115.5 billion, respectively, as of June 30, 2022. 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 1,736.0 0.9 0.9 0.0 0.0 0.0 Swaps 8,810.0 36.8 33.0 131.4 0.4 0.2 Options bought and sold (OTC) 779.0 11.5 10.9 0.0 0.0 0.0 Futures 144.5 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 71.6 0.1 0.0 0.0 0.0 0.0 Interest rate products 11,541.1 49.3 44.8 131.4 0.4 0.2 Forwards 1,052.9 7.6 8.2 21.1 0.1 0.1 Swaps 345.3 11.3 12.4 0.0 0.0 0.0 Options bought and sold (OTC) 174.9 2.0 2.2 0.0 0.0 0.0 Futures 10.3 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 1.6 0.0 0.0 0.0 0.0 0.0 Foreign exchange products 1,585.0 20.9 22.8 21.1 0.1 0.1 Forwards 0.9 0.1 0.0 0.0 0.0 0.0 Swaps 94.7 1.4 2.6 0.0 0.0 0.0 Options bought and sold (OTC) 243.9 11.1 12.5 0.0 0.0 0.0 Futures 46.3 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 535.8 22.9 21.5 0.0 0.0 0.0 Equity/index-related products 921.6 35.5 36.6 0.0 0.0 0.0 Credit derivatives 2 506.8 5.0 6.3 0.0 0.0 0.0 Forwards 9.9 0.2 0.1 0.0 0.0 0.0 Swaps 12.0 1.1 0.4 0.0 0.0 0.0 Options bought and sold (OTC) 11.1 0.2 0.1 0.0 0.0 0.0 Futures 11.1 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 9.2 0.1 0.1 0.0 0.0 0.0 Other products 3 53.3 1.6 0.7 0.0 0.0 0.0 Total derivative instruments 14,607.8 112.3 111.2 152.5 0.5 0.3 The notional amount, PRV and NRV (trading and hedging) was CHF 14,760.3 billion, CHF 112.8 billion and CHF 111.5 billion, respectively, as of December 31, 2021. 1 Relates to derivative contracts that qualify for hedge accounting under US GAAP. 2 Primarily credit default swaps. 3 Primarily precious metals, commodity and energy products. |
Fair value hedges | Gains or (losses) on fair value hedges in 2Q22 1Q22 2Q21 6M22 6M21 Interest rate products (CHF million) Hedged items 1 1,115 1,756 (288) 2,871 868 Derivatives designated as hedging instruments 1 (1,050) (1,679) 264 (2,729) (832) The accrued interest on fair value hedges is recorded in net interest income and is excluded from this table. 1 Included in net interest income. Hedged items in fair value hedges 2Q22 4Q21 Hedged items Hedged items Carrying Hedging 1 Discontinued 2 Carrying Hedging 1 Discontinued 2 Assets (CHF billion) Investment securities 0.7 (0.1) 0.0 0.8 0.0 0.0 Net loans 16.5 (1.5) (0.1) 16.6 (0.2) 0.2 Liabilities (CHF billion) Long-term debt 67.1 (2.3) (1.7) 69.4 (0.2) 0.8 1 Relates to the cumulative amount of fair value hedging adjustments included in the carrying amount. 2 Relates to the cumulative amount of fair value hedging adjustments remaining for any hedged items for which hedge accounting has been discontinued. |
Cash flow hedges | Cash flow hedges in 2Q22 1Q22 2Q21 6M22 6M21 Interest rate products (CHF million) Gains/(losses) recognized in AOCI on derivatives (171) (650) (23) (821) (119) Gains/(losses) reclassified from AOCI into interest and dividend income 173 4 7 177 10 Foreign exchange products (CHF million) Gains/(losses) recognized in AOCI on derivatives (36) (14) 0 (50) 4 Total other operating expenses (16) (6) 15 (22) 25 Gains/(losses) reclassified from AOCI into income (16) (6) 15 (22) 25 |
Net investment hedges | Net investment hedges in 2Q22 1Q22 2Q21 6M22 6M21 Foreign exchange products (CHF million) Gains/(losses) recognized in the cumulative translation adjustments section of AOCI 68 (122) 7 (54) (255) |
Credit protection sold/purchased | Credit protection sold/purchased 2Q22 4Q21 1 Net credit Fair value 1 Net credit Fair value Single-name instruments (CHF billion) Investment grade 2 (55.7) 50.7 (5.0) 9.7 0.1 (60.2) 55.6 (4.6) 10.1 0.6 Non-investment grade (25.2) 22.3 (2.9) 7.1 (0.4) (31.5) 28.9 (2.6) 7.9 0.4 Total single-name instruments (80.9) 73.0 (7.9) 16.8 (0.3) (91.7) 84.5 (7.2) 18.0 1.0 of which sovereign (14.0) 12.4 (1.6) 3.9 (0.1) (13.5) 12.2 (1.3) 4.0 (0.1) of which non-sovereign (66.9) 60.6 (6.3) 12.9 (0.2) (78.2) 72.3 (5.9) 14.0 1.1 Multi-name instruments (CHF billion) Investment grade 2 (77.4) 73.0 (4.4) 19.9 (0.2) (102.9) 96.0 (6.9) 20.2 0.7 Non-investment grade (33.7) 29.0 (4.7) 10.4 3 (1.1) (35.7) 33.2 (2.5) 12.6 3 (0.5) Total multi-name instruments (111.1) 102.0 (9.1) 30.3 (1.3) (138.6) 129.2 (9.4) 32.8 0.2 of which non-sovereign (111.1) 102.0 (9.1) 30.3 (1.3) (138.6) 129.2 (9.4) 32.8 0.2 Total instruments (CHF billion) Investment grade 2 (133.1) 123.7 (9.4) 29.6 (0.1) (163.1) 151.6 (11.5) 30.3 1.3 Non-investment grade (58.9) 51.3 (7.6) 17.5 (1.5) (67.2) 62.1 (5.1) 20.5 (0.1) Total instruments (192.0) 175.0 (17.0) 47.1 (1.6) (230.3) 213.7 (16.6) 50.8 1.2 of which sovereign (14.0) 12.4 (1.6) 3.9 (0.1) (13.5) 12.2 (1.3) 4.0 (0.1) of which non-sovereign (178.0) 162.6 (15.4) 43.2 (1.5) (216.8) 201.5 (15.3) 46.8 1.3 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 2Q22 4Q21 Special Special Contingent credit risk (CHF billion) Current net exposure 1.6 0.0 0.2 1.8 2.3 0.0 0.3 2.6 Collateral posted 1.3 0.0 – 1.3 1.9 0.0 – 1.9 Impact of a one-notch downgrade event 0.1 0.0 0.0 0.1 0.1 0.0 0.0 0.1 Impact of a two-notch downgrade event 0.5 0.0 0.1 0.6 0.2 0.0 0.0 0.2 Impact of a three-notch downgrade event 0.6 0.1 0.1 0.8 0.7 0.0 0.1 0.8 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 2Q22 4Q21 Credit derivatives (CHF billion) Credit protection sold 192.0 230.3 Credit protection purchased 175.0 213.7 Other protection purchased 47.1 50.8 Other instruments 1 20.3 12.0 Total credit derivatives 434.4 506.8 1 Consists of total return swaps and other derivative instruments. |
Maturity of credit protection sold | Maturity of credit protection sold Maturity Maturity Maturity 2Q22 (CHF billion) Single-name instruments 11.8 65.7 3.4 80.9 Multi-name instruments 18.2 83.4 9.5 111.1 Total instruments 30.0 149.1 12.9 192.0 4Q21 (CHF billion) Single-name instruments 14.4 73.6 3.7 91.7 Multi-name instruments 39.9 88.3 10.4 138.6 Total instruments 54.3 161.9 14.1 230.3 |
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 2,133.5 4.4 4.3 0.0 0.0 0.0 Swaps 8,959.2 31.5 28.9 118.7 0.1 1.8 Options bought and sold (OTC) 737.8 8.3 8.3 0.0 0.0 0.0 Futures 172.0 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 24.5 0.0 0.0 0.0 0.0 0.0 Interest rate products 12,027.0 44.2 41.5 118.7 0.1 1.8 Forwards 1,027.6 13.5 14.0 19.6 0.4 0.2 Swaps 343.8 14.3 14.0 0.0 0.0 0.0 Options bought and sold (OTC) 181.8 3.1 3.0 0.0 0.0 0.0 Futures 10.0 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 2.3 0.0 0.0 0.0 0.0 0.0 Foreign exchange products 1,565.5 30.9 31.0 19.6 0.4 0.2 Forwards 0.8 0.0 0.0 0.0 0.0 0.0 Swaps 57.9 2.4 2.2 0.0 0.0 0.0 Options bought and sold (OTC) 223.2 7.0 8.5 0.0 0.0 0.0 Futures 46.9 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 488.7 21.8 25.2 0.0 0.0 0.0 Equity/index-related products 817.5 31.2 35.9 0.0 0.0 0.0 Credit derivatives 2 434.4 3.4 4.3 0.0 0.0 0.0 Forwards 10.7 0.1 0.1 0.0 0.0 0.0 Swaps 12.5 1.0 0.6 0.0 0.0 0.0 Options bought and sold (OTC) 12.0 0.3 0.1 0.0 0.0 0.0 Futures 10.6 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 8.6 0.1 0.0 0.0 0.0 0.0 Other products 3 54.4 1.5 0.8 0.0 0.0 0.0 Total derivative instruments 14,898.8 111.2 113.5 138.3 0.5 2.0 The notional amount, PRV and NRV (trading and hedging) was CHF 15,037.1 billion, CHF 111.7 billion and CHF 115.5 billion, respectively, as of June 30, 2022. 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 1,736.0 0.9 0.9 0.0 0.0 0.0 Swaps 8,818.8 36.9 33.0 127.5 0.4 0.2 Options bought and sold (OTC) 779.0 11.5 10.9 0.0 0.0 0.0 Futures 144.5 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 71.6 0.1 0.0 0.0 0.0 0.0 Interest rate products 11,549.9 49.4 44.8 127.5 0.4 0.2 Forwards 1,052.9 7.6 8.2 21.1 0.1 0.1 Swaps 345.3 11.3 12.4 0.0 0.0 0.0 Options bought and sold (OTC) 174.9 2.0 2.2 0.0 0.0 0.0 Futures 10.3 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 1.6 0.0 0.0 0.0 0.0 0.0 Foreign exchange products 1,585.0 20.9 22.8 21.1 0.1 0.1 Forwards 0.9 0.1 0.0 0.0 0.0 0.0 Swaps 94.7 1.4 2.6 0.0 0.0 0.0 Options bought and sold (OTC) 243.9 11.1 12.5 0.0 0.0 0.0 Futures 46.3 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 535.8 22.9 21.5 0.0 0.0 0.0 Equity/index-related products 921.6 35.5 36.6 0.0 0.0 0.0 Credit derivatives 3 506.8 5.0 6.3 0.0 0.0 0.0 Forwards 9.9 0.2 0.1 0.0 0.0 0.0 Swaps 12.0 1.1 0.4 0.0 0.0 0.0 Options bought and sold (OTC) 11.1 0.2 0.1 0.0 0.0 0.0 Futures 11.1 0.0 0.0 0.0 0.0 0.0 Options bought and sold (exchange-traded) 9.2 0.1 0.1 0.0 0.0 0.0 Other products 4 53.3 1.6 0.7 0.0 0.0 0.0 Total derivative instruments 14,616.6 112.4 111.2 148.6 0.5 0.3 The notional amount, PRV and NRV (trading and hedging) was CHF 14,765.2 billion, CHF 112.9 billion and CHF 111.5 billion, respectively, as of December 31, 2021. 1 Relates to derivative contracts that qualify for hedge accounting under US GAAP. 2 Prior period has been revised. 3 Primarily credit default swaps. 4 Primarily precious metals, commodity and energy products. |
Fair value hedges | Gains or losses on fair value hedges in 6M22 6M21 Interest rate products (CHF million) Hedged items 1 2,508 776 Derivatives designated as hedging instruments 1 (2,370) (740) The accrued interest on fair value hedges is recorded in net interest income and is excluded from this table. 1 Included in net interest income. Hedged items in fair value hedges 6M22 2021 Hedged items Hedged items Carrying Hedging 1 Discontinued 2 Carrying Hedging 1 Discontinued 2 Assets (CHF billion) Investment securities 0.7 (0.1) 0.0 0.8 0.0 0.0 Net loans 16.5 (1.5) (0.1) 16.6 (0.2) 0.2 Liabilities (CHF billion) Long-term debt 63.4 (2.0) (1.4) 65.6 (0.1) 0.8 1 Relates to the cumulative amount of fair value hedging adjustments included in the carrying amount. 2 Relates to the cumulative amount of fair value hedging adjustments remaining for any hedged items for which hedge accounting has been discontinued. |
Cash flow hedges | Cash flow hedges in 6M22 6M21 Interest rate products (CHF million) Gains/(losses) recognized in AOCI on derivatives (821) (119) Gains/(losses) reclassified from AOCI into interest and dividend income 177 10 Foreign exchange products (CHF million) Gains/(losses) recognized in AOCI on derivatives (50) 4 Total other operating expenses (22) 25 Gains/(losses) reclassified from AOCI into income (22) 25 1 Related to the forward points of a foreign currency forward. |
Net investment hedges | Net investment hedges in 6M22 6M21 Foreign exchange products (CHF million) Gains/(losses) recognized in the cumulative translation adjustments section of AOCI (57) (248) |
Credit protection sold/purchased | Credit protection sold/purchased 6M22 2021 1 Net credit Fair value 1 Net credit Fair value Single-name instruments (CHF billion) Investment grade 2 (55.7) 50.7 (5.0) 9.7 0.1 (60.2) 55.6 (4.6) 10.1 0.6 Non-investment grade (25.2) 22.3 (2.9) 7.1 (0.4) (31.5) 28.9 (2.6) 7.9 0.4 Total single-name instruments (80.9) 73.0 (7.9) 16.8 (0.3) (91.7) 84.5 (7.2) 18.0 1.0 of which sovereign (14.0) 12.4 (1.6) 3.9 (0.1) (13.5) 12.2 (1.3) 4.0 (0.1) of which non-sovereign (66.9) 60.6 (6.3) 12.9 (0.2) (78.2) 72.3 (5.9) 14.0 1.1 Multi-name instruments (CHF billion) Investment grade 2 (77.4) 73.0 (4.4) 19.9 (0.2) (102.9) 96.0 (6.9) 20.2 0.7 Non-investment grade (33.7) 29.0 (4.7) 10.4 3 (1.1) (35.7) 33.2 (2.5) 12.6 3 (0.5) Total multi-name instruments (111.1) 102.0 (9.1) 30.3 (1.3) (138.6) 129.2 (9.4) 32.8 0.2 of which non-sovereign (111.1) 102.0 (9.1) 30.3 (1.3) (138.6) 129.2 (9.4) 32.8 0.2 Total instruments (CHF billion) Investment grade 2 (133.1) 123.7 (9.4) 29.6 (0.1) (163.1) 151.6 (11.5) 30.3 1.3 Non-investment grade (58.9) 51.3 (7.6) 17.5 (1.5) (67.2) 62.1 (5.1) 20.5 (0.1) Total instruments (192.0) 175.0 (17.0) 47.1 (1.6) (230.3) 213.7 (16.6) 50.8 1.2 of which sovereign (14.0) 12.4 (1.6) 3.9 (0.1) (13.5) 12.2 (1.3) 4.0 (0.1) of which non-sovereign (178.0) 162.6 (15.4) 43.2 (1.5) (216.8) 201.5 (15.3) 46.8 1.3 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 6M22 2021 Special Special Contingent credit risk (CHF billion) Current net exposure 1.6 0.0 0.2 1.8 2.3 0.0 0.3 2.6 Collateral posted 1.3 0.0 – 1.3 1.9 0.0 – 1.9 Impact of a one-notch downgrade event 0.1 0.0 0.0 0.1 0.1 0.0 0.0 0.1 Impact of a two-notch downgrade event 0.5 0.0 0.1 0.6 0.2 0.0 0.0 0.2 Impact of a three-notch downgrade event 0.6 0.1 0.1 0.8 0.7 0.0 0.1 0.8 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 6M22 2021 Credit derivatives (CHF billion) Credit protection sold 192.0 230.3 Credit protection purchased 175.0 213.7 Other protection purchased 47.1 50.8 Other instruments 1 20.3 12.0 Total credit derivatives 434.4 506.8 1 Consists of total return swaps and other derivative instruments. |
Maturity of credit protection sold | Maturity of credit protection sold Maturity Maturity Maturity 6M22 (CHF billion) Single-name instruments 11.8 65.7 3.4 80.9 Multi-name instruments 18.2 83.4 9.5 111.1 Total instruments 30.0 149.1 12.9 192.0 2021 (CHF billion) Single-name instruments 14.4 73.6 3.7 91.7 Multi-name instruments 39.9 88.3 10.4 138.6 Total instruments 54.3 161.9 14.1 230.3 |
Guarantees and commitments (Tab
Guarantees and commitments (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Guarantees | Guarantees Maturity Maturity Total Total 1 2Q22 (CHF million) Credit guarantees and similar instruments 2,306 1,494 3,800 3,722 25 2,070 Performance guarantees and similar instruments 4,826 3,061 7,887 6,613 44 3,943 Derivatives 2 5,884 2,634 8,518 8,518 145 – 3 Other guarantees 4,283 2,221 6,504 6,494 71 3,650 Total guarantees 17,299 9,410 26,709 25,347 285 9,663 4Q21 (CHF million) Credit guarantees and similar instruments 2,124 1,807 3,931 3,874 25 2,014 Performance guarantees and similar instruments 3,982 3,336 7,318 6,299 40 3,605 Derivatives 2 5,374 3,547 8,921 8,921 289 – 3 Other guarantees 4,012 2,498 6,510 6,469 71 3,789 Total guarantees 15,492 11,188 26,680 25,563 425 9,408 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 2Q22 4Q21 Maturity Maturity Total Total 1 Maturity Maturity Total Total 1 Other commitments (CHF million) Irrevocable commitments under documentary credits 5,069 41 5,110 4,781 3,153 4,796 116 4,912 4,602 2,801 Irrevocable loan commitments 2 24,326 97,182 121,508 117,542 54,120 22,959 99,600 122,559 118,281 55,766 Forward reverse repurchase agreements 239 0 239 239 239 466 0 466 466 466 Other commitments 133 287 420 420 4 121 275 396 396 8 Total other commitments 29,767 97,510 127,277 122,982 57,516 28,342 99,991 128,333 123,745 59,041 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 139,405 million and CHF 143,992 million of unused credit limits as of the end of 2Q22 and 4Q21, respectively, which were revocable at the Group's sole discretion upon notice to the client. |
Bank | |
Guarantees | Guarantees Maturity Maturity 1 6M22 (CHF million) Credit guarantees and similar instruments 2,310 1,491 3,801 3,723 25 2,070 Performance guarantees and similar instruments 4,826 3,061 7,887 6,613 44 3,943 Derivatives 2 5,884 2,634 8,518 8,518 145 – 3 Other guarantees 4,283 2,249 6,532 6,522 71 3,650 Total guarantees 17,303 9,435 26,738 25,376 285 9,663 2021 (CHF million) Credit guarantees and similar instruments 2,124 1,807 3,931 3,874 25 2,014 Performance guarantees and similar instruments 3,982 3,336 7,318 6,299 40 3,605 Derivatives 2 5,374 3,547 8,921 8,921 289 – 3 Other guarantees 4,012 2,498 6,510 6,469 71 3,789 Total guarantees 15,492 11,188 26,680 25,563 425 9,408 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 6M22 2021 Maturity Maturity 1 Maturity Maturity 1 Other commitments (CHF million) Irrevocable commitments under documentary credits 5,069 41 5,110 4,781 3,153 4,796 116 4,912 4,602 2,801 Irrevocable loan commitments 24,326 97,182 121,508 2 117,542 54,120 22,959 99,600 122,559 2 118,281 55,766 Forward reverse repurchase agreements 239 0 239 239 239 466 0 466 466 466 Other commitments 133 287 420 420 4 121 275 396 396 8 Total other commitments 29,767 97,510 127,277 122,982 57,516 28,342 99,991 128,333 123,745 59,041 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 139,485 million and CHF 144,079 million of unused credit limits as of the end of 6M22 and 2021, respectively, which were revocable at the Bank's sole discretion upon notice to the client. |
Transfers of financial assets_2
Transfers of financial assets and variable interest entities (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Securitizations | Securitizations in 6M22 6M21 Gains/(losses) and cash flows (CHF million) CMBS Net gain 1 5 0 Proceeds from transfer of assets 2,819 999 Cash received on interests that continue to be held 22 26 RMBS Net gain/(loss) 1 (1) 62 Proceeds from transfer of assets 6,799 20,876 Purchases of previously transferred financial assets or its underlying collateral 0 (1,072) Servicing fees 0 1 Cash received on interests that continue to be held 531 430 Other asset-backed financings Net gain 1 23 47 Proceeds from transfer of assets 3,808 6,802 Purchases of previously transferred financial assets or its underlying collateral (997) (699) Fees 2 97 81 Cash received on interests that continue to be held 36 7 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 2Q22 4Q21 CHF million CMBS Principal amount outstanding 20,202 15,428 Total assets of SPE 38,723 23,205 RMBS Principal amount outstanding 49,342 56,990 Total assets of SPE 49,342 56,990 Other asset-backed financings Principal amount outstanding 23,514 24,856 Total assets of SPE 56,511 57,797 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 6M22 6M21 at time of transfer, in CMBS RMBS CMBS RMBS CHF million, except where indicated Fair value of beneficial interests 252 548 92 1,337 of which level 2 191 480 82 1,019 of which level 3 61 68 10 318 Weighted-average life, in years 5.4 10.9 7.4 5.0 Prepayment speed assumption (rate per annum), in % 1 – 2 5.0 – 22.2 – 2 3.0 – 32.8 Cash flow discount rate (rate per annum), in % 3 3.5 – 10.3 2.8 – 43.6 1.8 – 4.5 1.0 – 15.4 Expected credit losses (rate per annum), in % 4 2.7 – 5.6 1.3 – 41.1 0.9 – 3.9 0.1 – 13.7 Transfers of assets in which the Group does not have beneficial interests are not included in this table. 1 Prepayment speed assumption (PSA) is an industry standard prepayment speed metric used for projecting prepayments over the life of a residential mortgage loan. PSA utilizes the constant prepayment rate (CPR) assumptions. A 100% prepayment assumption assumes a prepayment rate of 0.2% per annum of the outstanding principal balance of mortgage loans in the first month. This increases by 0.2 percentage points thereafter during the term of the mortgage loan, leveling off to a CPR of 6% per annum beginning in the 30th month and each month thereafter during the term of the mortgage loan. 100 PSA equals 6 CPR. 2 To deter prepayment, commercial mortgage loans typically have prepayment protection in the form of prepayment lockouts and yield maintenances. 3 The rate 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 2Q22 4Q21 1 Other asset- 2 1 Other asset- 2 CHF million, except where indicated Fair value of beneficial interests 478 1,563 549 281 2,310 402 of which non-investment grade 96 270 75 55 370 27 Weighted-average life, in years 3.5 8.7 5.2 3.9 4.7 5.5 Prepayment speed assumption (rate per annum), in % 3 – 4.0 – 22.9 – – 5.1 – 41.9 – Impact on fair value from 10% adverse change – (30.4) – – (31.1) – Impact on fair value from 20% adverse change – (59.6) – – (59.8) – Cash flow discount rate (rate per annum), in % 4 4.2 – 41.9 2.1 – 38.4 1.2 – 52.0 1.7 – 50.7 0.7 – 35.5 0.3 – 14.7 Impact on fair value from 10% adverse change (7.0) (53.8) (8.6) (3.5) (38.1) (4.9) Impact on fair value from 20% adverse change (13.8) (103.5) (16.9) (6.8) (73.3) (9.7) Expected credit losses (rate per annum), in % 5 1.2 – 13.2 0.3 – 35.3 0.6 – 49.9 0.6 – 8.4 0.4 – 34.2 0.7 – 13.3 Impact on fair value from 10% adverse change (3.7) (27.6) (5.5) (2.5) (28.5) (4.3) Impact on fair value from 20% adverse change (7.4) (53.7) (10.8) (4.9) (54.8) (8.4) 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 2Q22 4Q21 CHF million RMBS Other assets 0 257 Liability to SPE, included in other liabilities 0 (257) Other asset-backed financings Trading assets 500 557 Other assets 178 200 Liability to SPE, included in other liabilities (678) (757) |
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 2Q22 4Q21 CHF billion Government debt securities 19.2 15.9 Corporate debt securities 9.7 9.6 Asset-backed securities 2.3 4.6 Equity securities 0.3 0.5 Other 3.6 5.6 Securities sold under repurchase agreements 35.1 36.2 Government debt securities 0.2 13.9 Corporate debt securities 0.2 0.3 Asset-backed securities 0.0 0.3 Equity securities 0.2 1.0 Other 0.2 0.2 Securities lending transactions 0.8 15.7 Government debt securities 3.7 3.6 Corporate debt securities 0.8 0.6 Asset-backed securities 0.1 0.0 Equity securities 2.8 10.8 Obligation to return securities received as collateral, at fair value 7.4 15.0 Total 43.3 66.9 Securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral – by remaining contractual maturity Remaining contractual maturities No stated 1 Up to 2 31–90 More than 2Q22 (CHF billion) Securities sold under repurchase agreements 6.0 18.9 3.3 6.9 35.1 Securities lending transactions 0.7 0.0 0.0 0.1 0.8 Obligation to return securities received as collateral, at fair value 7.4 0.0 0.0 0.0 7.4 Total 14.1 18.9 3.3 7.0 43.3 4Q21 (CHF billion) Securities sold under repurchase agreements 5.2 15.7 6.0 9.3 36.2 Securities lending transactions 2.3 1.7 1.6 10.1 15.7 Obligation to return securities received as collateral, at fair value 15.0 0.0 0.0 0.0 15.0 Total 22.5 17.4 7.6 19.4 66.9 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- 2Q22 (CHF million) Cash and due from banks 15 0 46 11 23 15 110 Trading assets 1 0 1,281 42 477 0 1,801 Other investments 0 0 0 69 685 141 895 Net loans 0 1,274 0 0 16 33 1,323 Other assets 250 29 886 49 113 682 2,009 of which loans held-for-sale 249 0 72 25 0 0 346 of which premises and equipment 0 0 0 0 26 0 26 Total assets of consolidated VIEs 266 1,303 2,213 171 1,314 871 6,138 Trading liabilities 3 0 0 0 10 0 13 Short-term borrowings 0 4,620 0 15 0 0 4,635 Long-term debt 34 0 1,750 0 0 41 1,825 Other liabilities 0 88 2 21 58 54 223 Total liabilities of consolidated VIEs 37 4,708 1,752 36 68 95 6,696 4Q21 (CHF million) Cash and due from banks 0 1 42 25 27 13 108 Trading assets 0 0 1,158 54 610 0 1,822 Other investments 0 0 0 65 789 161 1,015 Net loans 0 1,022 317 0 28 33 1,400 Other assets 0 31 604 78 108 675 1,496 of which loans held-for-sale 0 0 50 23 0 1 74 of which premises and equipment 0 0 0 0 27 0 27 Total assets of consolidated VIEs 0 1,054 2,121 222 1,562 882 5,841 Trading liabilities 0 0 0 0 8 0 8 Short-term borrowings 0 4,337 0 15 0 0 4,352 Long-term debt 0 0 1,342 0 3 46 1,391 Other liabilities 0 67 1 20 60 83 231 Total liabilities of consolidated VIEs 0 4,404 1,343 35 71 129 5,982 |
Non-consolidated VIEs | Non-consolidated VIEs Financial intermediation CDO/ CP 1 Securi- 2Q22 (CHF million) Trading assets 228 0 4,399 777 7 2,095 7,506 Net loans 579 1,312 1,230 2,726 7,669 2,080 15,596 Other assets 6 0 104 148 5 797 1,060 Total variable interest assets 813 1,312 5,733 3,651 7,681 4,972 24,162 Maximum exposure to loss 1,087 8,012 7,632 3,651 11,290 5,484 37,156 Total assets of non-consolidated VIEs 10,819 16,536 153,117 129,284 38,092 19,379 367,227 4Q21 (CHF million) Trading assets 257 0 4,526 932 13 5,494 11,222 Net loans 268 1,005 940 2,403 8,774 1,986 15,376 Other assets 6 0 22 112 0 628 768 Total variable interest assets 531 1,005 5,488 3,447 8,787 8,108 27,366 Maximum exposure to loss 774 7,625 8,036 3,447 13,068 8,637 41,587 Total assets of non-consolidated VIEs 10,266 14,948 108,942 103,179 36,428 24,945 298,708 1 Includes liquidity facilities provided to third-party CP conduits through Alpine. |
Bank | |
Securitizations | Securitizations in 6M22 6M21 Gains/(losses) and cash flows (CHF million) CMBS Net gain 1 5 0 Proceeds from transfer of assets 2,819 999 Cash received on interests that continue to be held 22 26 RMBS Net gain/(loss) 1 (1) 62 Proceeds from transfer of assets 6,799 20,876 Purchases of previously transferred financial assets or its underlying collateral 0 (1,072) Servicing fees 0 1 Cash received on interests that continue to be held 531 430 Other asset-backed financings Net gain 1 23 47 Proceeds from transfer of assets 3,808 6,802 Purchases of previously transferred financial assets or its underlying collateral (997) (699) Fees 2 97 81 Cash received on interests that continue to be held 36 7 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 6M22 2021 CHF million CMBS Principal amount outstanding 20,202 15,428 Total assets of SPE 38,723 23,205 RMBS Principal amount outstanding 49,342 56,990 Total assets of SPE 49,342 56,990 Other asset-backed financings Principal amount outstanding 23,514 24,856 Total assets of SPE 56,511 57,797 Principal amount outstanding relates to assets transferred from the Bank and does not include principal amounts for assets transferred from third parties. |
Key economic assumptions used in measuring fair value of beneficial interests at time of transfer | Key economic assumptions used in measuring fair value of beneficial interests at time of transfer 6M22 6M21 at time of transfer, in CMBS RMBS CMBS RMBS CHF million, except where indicated Fair value of beneficial interests 252 548 92 1,337 of which level 2 191 480 82 1,019 of which level 3 61 68 10 318 Weighted-average life, in years 5.4 10.9 7.4 5.0 Prepayment speed assumption (rate per annum), in % 1 – 2 5.0 – 22.2 – 2 3.0 – 32.8 Cash flow discount rate (rate per annum), in % 3 3.5 – 10.3 2.8 – 43.6 1.8 – 4.5 1.0 – 15.4 Expected credit losses (rate per annum), in % 4 2.7 – 5.6 1.3 – 41.1 0.9 – 3.9 0.1 – 13.7 Transfers of assets in which the Bank does not have beneficial interests are not included in this table. 1 Prepayment speed assumption (PSA) is an industry standard prepayment speed metric used for projecting prepayments over the life of a residential mortgage loan. PSA utilizes the constant prepayment rate (CPR) assumptions. A 100% prepayment assumption assumes a prepayment rate of 0.2% per annum of the outstanding principal balance of mortgage loans in the first month. This increases by 0.2 percentage points thereafter during the term of the mortgage loan, leveling off to a CPR of 6% per annum beginning in the 30th month and each month thereafter during the term of the mortgage loan. 100 PSA equals 6 CPR. 2 To deter prepayment, commercial mortgage loans typically have prepayment protection in the form of prepayment lockouts and yield maintenances. 3 The rate was based on the weighted-average yield on the beneficial interests. 4 The range of expected credit losses only reflects instruments with an expected credit loss greater than zero unless all of the instruments have an expected credit loss of zero. |
Key economic assumptions used in measuring fair value of beneficial interests held in SPEs | Key economic assumptions used in measuring fair value of beneficial interests held in SPEs 6M22 2021 1 Other asset- 2 1 Other asset- 2 CHF million, except where indicated Fair value of beneficial interests 478 1,563 549 281 2,310 402 of which non-investment grade 96 270 75 55 370 27 Weighted-average life, in years 3.5 8.7 5.2 3.9 4.7 5.5 Prepayment speed assumption (rate per annum), in % 3 – 4.0 – 22.9 – – 5.1 – 41.9 – Impact on fair value from 10% adverse change – (30.4) – – (31.1) – Impact on fair value from 20% adverse change – (59.6) – – (59.8) – Cash flow discount rate (rate per annum), in % 4 4.2 – 41.9 2.1 – 38.4 1.2 – 52.0 1.7 – 50.7 0.7 – 35.5 0.3 – 14.7 Impact on fair value from 10% adverse change (7.0) (53.8) (8.6) (3.5) (38.1) (4.9) Impact on fair value from 20% adverse change (13.8) (103.5) (16.9) (6.8) (73.3) (9.7) Expected credit losses (rate per annum), in % 5 1.2 – 13.2 0.3 – 35.3 0.6 – 49.9 0.6 – 8.4 0.4 – 34.2 0.7 – 13.3 Impact on fair value from 10% adverse change (3.7) (27.6) (5.5) (2.5) (28.5) (4.3) Impact on fair value from 20% adverse change (7.4) (53.7) (10.8) (4.9) (54.8) (8.4) 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 6M22 2021 CHF million RMBS Other assets 0 257 Liability to SPE, included in other liabilities 0 (257) Other asset-backed financings Trading assets 500 557 Other assets 178 200 Liability to SPE, included in other liabilities (678) (757) |
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 6M22 2021 CHF billion Government debt securities 19.3 16.0 Corporate debt securities 9.7 9.6 Asset-backed securities 2.3 4.6 Equity securities 0.3 0.5 Other 3.6 5.6 Securities sold under repurchase agreements 35.2 36.3 Government debt securities 0.2 13.9 Corporate debt securities 0.2 0.3 Asset-backed securities 0.0 0.3 Equity securities 0.2 1.0 Other 0.2 0.2 Securities lending transactions 0.8 15.7 Government debt securities 3.7 3.6 Corporate debt securities 0.8 0.6 Asset-backed securities 0.1 0.0 Equity securities 2.8 10.8 Other 0.0 0.0 Obligation to return securities received as collateral, at fair value 7.4 15.0 Total 43.4 67.0 Securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral – by remaining contractual maturity Remaining contractual maturities No stated 1 Up to 2 31-90 More than 6M22 (CHF billion) Securities sold under repurchase agreements 6.0 19.0 3.3 6.9 35.2 Securities lending transactions 0.7 0.0 0.0 0.1 0.8 Obligation to return securities received as collateral, at fair value 7.4 0.0 0.0 0.0 7.4 Total 14.1 19.0 3.3 7.0 43.4 2021 (CHF billion) Securities sold under repurchase agreements 5.3 15.8 6.0 9.2 36.3 Securities lending transactions 2.3 1.7 1.6 10.1 15.7 Obligation to return securities received as collateral, at fair value 15.0 0.0 0.0 0.0 15.0 Total 22.6 17.5 7.6 19.3 67.0 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- 6M22 (CHF million) Cash and due from banks 15 0 46 11 23 15 110 Trading assets 1 0 1,281 42 477 0 1,801 Other investments 0 0 0 69 685 141 895 Net loans 0 1,274 0 0 16 33 1,323 Other assets 250 29 886 49 101 682 1,997 of which loans held-for-sale 249 0 72 25 0 0 346 of which premises and equipment 0 0 0 0 13 0 13 Total assets of consolidated VIEs 266 1,303 2,213 171 1,302 871 6,126 Trading liabilities 3 0 0 0 10 0 13 Short-term borrowings 0 4,620 0 15 0 0 4,635 Long-term debt 34 0 1,750 0 0 41 1,825 Other liabilities 0 88 2 21 58 54 223 Total liabilities of consolidated VIEs 37 4,708 1,752 36 68 95 6,696 2021 (CHF million) Cash and due from banks 0 1 42 25 27 13 108 Trading assets 0 0 1,158 54 610 0 1,822 Other investments 0 0 0 65 789 161 1,015 Net loans 0 1,022 317 0 28 33 1,400 Other assets 0 31 604 78 95 674 1,482 of which loans held-for-sale 0 0 50 23 0 1 74 of which premises and equipment 0 0 0 0 12 0 12 Total assets of consolidated VIEs 0 1,054 2,121 222 1,549 881 5,827 Trading liabilities 0 0 0 0 8 0 8 Short-term borrowings 0 4,337 0 15 0 0 4,352 Long-term debt 0 0 1,342 0 3 46 1,391 Other liabilities 0 67 1 20 61 84 233 Total liabilities of consolidated VIEs 0 4,404 1,343 35 72 130 5,984 |
Non-consolidated VIEs | Non-consolidated VIEs Financial intermediation CDO/ CP 1 Securi- 6M22 (CHF million) Trading assets 228 0 4,399 776 7 2,095 7,505 Net loans 579 1,312 1,230 2,726 7,669 2,080 15,596 Other assets 6 0 104 146 5 797 1,058 Total variable interest assets 813 1,312 5,733 3,648 7,681 4,972 24,159 Maximum exposure to loss 1,087 8,012 7,632 3,648 11,290 5,484 37,153 Total assets of non-consolidated VIEs 10,819 16,536 153,117 129,154 38,092 17,260 364,978 2021 (CHF million) Trading assets 257 0 4,526 932 13 5,494 11,222 Net loans 268 1,005 940 2,403 8,774 1,986 15,376 Other assets 6 0 22 109 0 628 765 Total variable interest assets 531 1,005 5,488 3,444 8,787 8,108 27,363 Maximum exposure to loss 774 7,625 8,036 3,444 13,068 8,637 41,584 Total assets of non-consolidated VIEs 10,266 14,948 108,942 102,820 36,428 19,804 293,208 1 Includes liquidity facilities provided to third-party CP conduits through Alpine. |
Financial instruments (Tables)
Financial instruments (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Assets and liabilities measured at fair value on a recurring basis 1 Assets 2 Assets (CHF million) Cash and due from banks 0 165 0 – – 165 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 35 82,357 0 – – 82,392 Securities received as collateral 6,132 1,254 0 – – 7,386 Trading assets 50,197 140,406 4,400 (94,491) 583 101,095 of which debt securities 13,814 42,184 1,005 – 27 57,030 of which foreign governments 13,504 10,598 91 – – 24,193 of which corporates 34 10,213 299 – 27 10,573 of which RMBS 6 18,127 410 – – 18,543 of which equity securities 23,000 880 275 – 556 24,711 of which derivatives 11,584 96,578 2,398 (94,491) – 16,069 of which interest rate products 3,979 38,590 925 – – – of which foreign exchange products 103 30,751 88 – – – of which equity/index-related products 7,469 23,247 464 – – – of which other derivatives 1 506 706 – – – of which other trading assets 1,799 764 722 – – 3,285 Investment securities 2 737 0 – – 739 Other investments 0 20 3,575 – 392 3,987 of which other equity investments 0 20 2,876 – 321 3,217 of which life finance instruments 0 0 685 – – 685 Loans 0 7,910 1,189 – – 9,099 of which commercial and industrial loans 0 3,266 368 – – 3,634 of which financial institutions 0 2,747 364 – – 3,111 Other intangible assets (mortgage servicing rights) 0 35 255 – – 290 Other assets 115 8,205 722 (426) – 8,616 of which failed purchases 97 874 11 – – 982 of which loans held-for-sale 0 6,551 566 – – 7,117 Total assets at fair value 56,481 241,089 10,141 (94,917) 975 213,769 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 0 355 0 – – 355 Customer deposits 0 3,008 299 – – 3,307 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 0 14,145 0 – – 14,145 Obligation to return securities received as collateral 6,132 1,254 0 – – 7,386 Trading liabilities 22,375 102,907 2,456 (97,772) 1 29,967 of which short positions 9,430 4,530 54 – 1 14,015 of which debt securities 3,565 4,341 7 – – 7,913 of which foreign governments 2,914 787 0 – – 3,701 of which corporates 603 3,551 7 – – 4,161 of which equity securities 5,865 189 47 – 1 6,102 of which derivatives 12,945 98,377 2,402 (97,772) – 15,952 of which interest rate products 4,031 37,410 55 – – – of which foreign exchange products 107 30,864 14 – – – of which equity/index-related products 8,765 25,670 1,447 – – – of which other derivatives 11 213 560 – – 296 Short-term borrowings 0 9,333 716 – – 10,049 Long-term debt 0 59,484 6,656 – – 66,140 of which structured notes over one year and up to two years 0 12,668 320 – – 12,988 of which structured notes over two years 0 24,431 4,383 – – 28,814 of which other debt instruments over two years 0 3,141 1,826 – – 4,967 of which high-trigger instruments 0 10,593 0 – – 10,593 Other liabilities 207 3,906 495 (1,988) – 2,620 Total liabilities at fair value 28,714 194,392 10,622 (99,760) 1 133,969 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 0 308 0 – – 308 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 0 68,623 0 – – 68,623 Securities received as collateral 13,848 1,155 14 – – 15,017 Trading assets 54,085 146,521 4,503 (94,633) 665 111,141 of which debt securities 12,191 40,700 1,225 – 82 54,198 of which foreign governments 11,996 11,377 35 – – 23,408 of which corporates 72 8,958 478 – 82 9,590 of which RMBS 0 17,033 424 – – 17,457 of which equity securities 34,282 1,486 195 – 583 36,546 of which derivatives 6,224 103,781 2,187 (94,633) – 17,559 of which interest rate products 721 47,934 624 – – – of which foreign exchange products 123 20,686 53 – – – of which equity/index-related products 5,348 29,808 212 – – – of which other derivatives 0 196 1,034 – – – of which other trading assets 1,388 554 896 – – 2,838 Investment securities 2 1,003 0 – – 1,005 Other investments 0 23 3,666 – 405 4,094 of which other equity investments 0 23 2,863 – 351 3,237 of which life finance instruments 0 0 789 – – 789 Loans 0 8,709 1,534 – – 10,243 of which commercial and industrial loans 0 2,267 717 – – 2,984 of which financial institutions 0 3,840 465 – – 4,305 Other intangible assets (mortgage servicing rights) 0 57 167 – – 224 Other assets 121 8,750 694 (381) – 9,184 of which failed purchases 98 1,135 11 – – 1,244 of which loans held-for-sale 0 6,818 562 – – 7,380 Total assets at fair value 68,056 235,149 10,578 (95,014) 1,070 219,839 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 0 477 0 – – 477 Customer deposits 0 3,306 394 – – 3,700 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 0 13,213 0 – – 13,213 Obligation to return securities received as collateral 13,848 1,155 14 – – 15,017 Trading liabilities 19,419 105,828 2,809 (100,522) 1 27,535 of which short positions 11,689 4,974 25 – 1 16,689 of which debt securities 2,809 4,865 3 – – 7,677 of which foreign governments 2,667 968 0 – – 3,635 of which corporates 113 3,839 3 – – 3,955 of which equity securities 8,880 109 22 – 1 9,012 of which derivatives 7,730 100,854 2,784 (100,522) – 10,846 of which interest rate products 776 44,003 26 – – – of which foreign exchange products 133 22,646 57 – – – of which equity/index-related products 6,812 27,919 1,787 – – – Short-term borrowings 0 9,658 1,032 – – 10,690 Long-term debt 0 59,046 9,676 – – 68,722 of which structured notes over one year and up to two years 0 11,036 1,464 – – 12,500 of which structured notes over two years 0 24,168 6,318 – – 30,486 of which other debt instruments over two years 0 3,223 1,854 – – 5,077 of which high-trigger instruments 0 10,702 0 – – 10,702 Other liabilities 348 2,031 518 (305) – 2,592 Total liabilities at fair value 33,615 194,714 14,443 (100,827) 1 141,946 1 Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements. 2 In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value Assets and liabilities measured at fair value on a recurring basis for level 3 Accumulated other Foreign 1 Assets (CHF million) Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 0 0 0 0 0 3 (3) 0 0 0 0 0 0 0 0 0 Securities received as collateral 14 0 0 0 (14) 0 0 0 0 0 0 0 0 0 0 0 Trading assets 4,503 907 (1,174) 3,539 (3,324) 580 (548) 36 (338) 0 (8) 0 0 227 4,400 477 of which debt securities 1,225 515 (733) 2,899 (2,571) 0 0 (106) (313) 0 (8) 0 0 97 1,005 562 of which corporates 478 161 (385) 2,412 (2,048) 0 0 (106) (276) 0 0 0 0 63 299 662 of which RMBS 424 77 (131) 243 (326) 0 0 4 100 0 0 0 0 19 410 28 of which derivatives 2,187 216 (326) 0 0 580 (409) 98 (31) 0 0 0 0 83 2,398 17 of which interest rate products 624 4 (6) 0 0 60 (28) (1) 252 0 0 0 0 20 925 141 of which other derivatives 1,034 10 (5) 0 0 158 (154) 3 (381) 0 0 0 0 41 706 (373) of which other trading assets 896 57 (45) 555 (727) 0 (139) 6 82 0 0 0 0 37 722 (112) Other investments 3,666 71 0 51 (119) 0 0 0 (162) 0 (52) 0 0 120 3,575 (99) of which other equity investments 2,863 71 0 37 (6) 0 0 0 (115) 0 (60) 0 0 86 2,876 (77) of which life finance instruments 789 0 0 14 (105) 0 0 0 (47) 0 0 0 0 34 685 (22) Loans 1,534 313 (317) 0 (20) 3 (369) 21 (64) 0 0 0 0 88 1,189 (97) of which commercial and industrial loans 717 74 (300) 0 (8) 3 (123) 12 (46) 0 0 0 0 39 368 (54) of which financial institutions 465 75 0 0 0 0 (219) 0 10 0 0 0 0 33 364 (17) Other intangible assets (mortgage servicing rights) 167 102 0 0 0 0 0 0 (21) 0 0 0 0 7 255 (21) Other assets 694 170 (114) 510 (512) 114 (199) 6 3 0 4 0 0 46 722 0 of which loans held-for-sale 562 153 (109) 493 (509) 113 (199) 14 9 0 0 0 0 39 566 2 Total assets at fair value 10,578 1,563 (1,605) 4,100 (3,989) 700 (1,119) 63 (582) 0 (56) 0 0 488 10,141 260 Liabilities (CHF million) Customer deposits 394 0 0 0 0 0 (15) 0 (26) 0 0 0 (41) (13) 299 (70) Obligation to return securities received as collateral 14 0 0 0 (14) 0 0 0 0 0 0 0 0 0 0 0 Trading liabilities 2,809 856 (882) 18 (83) 502 (629) 37 (290) 0 0 0 0 118 2,456 (188) of which derivatives 2,784 746 (870) 0 (61) 502 (629) 38 (228) 0 0 0 0 120 2,402 (180) of which equity/index-related derivatives 1,787 611 (596) 0 0 279 (232) (9) (468) 0 0 0 0 75 1,447 (348) of which other derivatives 540 7 (4) 0 (61) 89 (113) 3 73 0 0 0 0 26 560 (15) Short-term borrowings 1,032 124 (522) 0 0 639 (500) (43) (58) 0 0 0 0 44 716 18 Long-term debt 9,676 1,259 (4,863) 0 0 4,531 (2,960) (499) (746) 0 0 (35) (202) 495 6,656 (756) of which structured notes over one year and up to two years 1,464 142 (1,392) 0 0 559 (338) (102) (76) 0 0 (1) (1) 65 320 (34) of which structured notes over two years 6,318 1,106 (3,441) 0 0 3,888 (2,595) (416) (586) 0 0 (34) (201) 344 4,383 (740) of which other debt instruments over two years 1,854 0 0 0 0 0 (26) 0 (84) 0 0 0 0 82 1,826 0 Other liabilities 518 41 (2) 8 (21) 58 (71) (2) (22) 1 (35) 0 0 22 495 16 Total liabilities at fair value 14,443 2,280 (6,269) 26 (118) 5,730 (4,175) (507) (1,142) 1 (35) (35) (243) 666 10,622 (980) Net assets/(liabilities) at fair value (3,865) (717) 4,664 4,074 (3,871) (5,030) 3,056 570 560 (1) (21) 35 243 (178) (481) 1,240 1 Changes in unrealized gains/(losses) on total assets at fair value and changes in unrealized (gains)/losses on total liabilities at fair value relating to assets and liabilities held at period end are included in net revenues or accumulated other comprehensive income. As of 6M22, changes in net unrealized gains/(losses) of CHF 1,044 million and CHF (77) Assets and liabilities measured at fair value on a recurring basis for level 3 (continued) Accumulated other Foreign 1 Assets (CHF million) Securities received as collateral 101 0 0 64 (86) 0 0 0 0 0 0 0 0 5 84 0 Trading assets 7,535 594 (1,635) 2,472 (2,976) 508 (1,119) 39 140 0 0 0 0 380 5,938 128 of which debt securities 2,253 296 (736) 1,859 (2,285) 0 0 (7) 138 0 0 0 0 137 1,655 103 of which corporates 1,270 137 (176) 1,403 (1,913) 0 0 (5) 95 0 0 0 0 78 889 99 of which derivatives 3,911 179 (856) 0 0 508 (1,033) 29 (30) 0 0 0 0 175 2,883 72 of which interest rate products 733 59 (81) 0 0 114 (59) 0 18 0 0 0 0 21 805 54 of which other derivatives 1,079 0 0 0 0 153 (157) 0 (55) 0 0 0 0 53 1,073 (60) of which other trading assets 1,247 22 (32) 493 (617) 0 (86) 10 21 0 0 0 0 60 1,118 (47) Other investments 3,054 3 (753) 20 (473) 0 0 0 (17) 0 318 0 0 79 2,231 43 of which other equity investments 2,132 0 (753) 3 (375) 0 0 0 (6) 0 318 0 0 34 1,353 52 of which life finance instruments 920 0 0 17 (94) 0 0 0 (11) 0 0 0 0 45 877 18 Loans 3,669 22 (533) 357 (73) 162 (946) 8 85 0 1 0 0 176 2,928 25 of which commercial and industrial loans 1,347 22 (12) 10 (31) 119 (184) 14 57 0 1 0 0 68 1,411 36 of which financial institutions 1,082 0 (222) 0 (42) 32 (296) 3 40 0 0 0 0 46 643 4 Other intangible assets (mortgage servicing rights) 180 0 0 22 0 0 0 0 0 0 (22) 0 0 9 189 (22) Other assets 1,825 164 (451) 2,500 (2,176) 77 (573) 13 (42) 0 0 0 0 99 1,436 (76) of which loans held-for-sale 1,576 164 (409) 2,469 (2,137) 77 (571) 11 19 0 0 0 0 88 1,287 (41) Total assets at fair value 16,364 783 (3,372) 5,435 (5,784) 747 (2,638) 60 166 0 297 0 0 748 12,806 98 Liabilities (CHF million) Customer deposits 448 0 0 0 0 0 0 0 (8) 0 0 0 (13) 5 432 10 Obligation to return securities received as collateral 101 0 0 64 (86) 0 0 0 0 0 0 0 0 5 84 0 Trading liabilities 4,246 584 (1,961) 80 (24) 710 (1,138) 152 169 0 0 0 0 217 3,035 779 of which derivatives 4,191 566 (1,961) 69 (4) 710 (1,138) 152 193 0 0 0 0 216 2,994 781 of which equity/index-related derivatives 2,010 427 (1,049) 0 0 350 (527) 151 265 0 0 0 0 111 1,738 529 Short-term borrowings 701 155 (207) 0 0 930 (608) (1) 95 0 0 0 0 41 1,106 67 Long-term debt 7,268 2,715 (2,046) 0 0 4,401 (3,119) 62 (4) 0 4 (3) (30) 425 9,673 210 of which structured notes over one year and up to two years 1,133 1,165 (732) 0 0 1,127 (771) 39 97 0 0 0 (1) 67 2,124 39 of which structured notes over two years 5,526 1,532 (1,287) 0 0 3,020 (2,227) 24 (109) 0 0 (2) (29) 329 6,777 (59) Other liabilities 1,271 7 (552) 24 (46) 59 (424) 8 (8) 107 38 0 0 51 535 2 Total liabilities at fair value 14,035 3,461 (4,766) 168 (156) 6,100 (5,289) 221 244 107 42 (3) (43) 744 14,865 1,068 Net assets/(liabilities) at fair value 2,329 (2,678) 1,394 5,267 (5,628) (5,353) 2,651 (161) (78) (107) 255 3 43 4 (2,059) (970) 1 Changes in unrealized gains/(losses) on total assets at fair value and changes in unrealized (gains)/losses on total liabilities at fair value relating to assets and liabilities held at period end are included in net revenues or accumulated other comprehensive income. As of 6M21, changes in net unrealized gains/(losses) of CHF (1,011) |
Quantitative information about level 3 assets and liabilities at fair value | Quantitative information about level 3 assets measured at fair value on a recurring basis Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Trading assets 4,400 of which debt securities 1,005 of which corporates 299 of which 164 Discounted cash flow Credit spread, in bp 100 2,048 633 Price, in % 0 102 46 Recovery rate, in % 73 73 3 of which 62 Market comparable Price, in % 0 102 41 of which 70 Price Price, in % 30 100 94 Price, in actuals 0 11,250 3,534 of which RMBS 410 Discounted cash flow Discount rate, in % 4 28 12 of which derivatives 2,398 of which interest rate products 925 of which 2 Discounted cash flow Volatility, in % 93 100 97 of which 907 Option model Correlation, in % (11) 100 35 Mean reversion, in % 3 15 15 0 Prepayment rate, in % 15 21 18 Volatility, in % (3) 0 0 of which other derivatives 706 Discounted cash flow Market implied life expectancy, in years 2 14 6 Mortality rate, in % 73 138 99 of which other trading assets 722 of which 478 Discounted cash flow Market implied life expectancy, in years 3 13 7 Tax swap rate, in % 30 30 30 of which 195 Market comparable Price, in % 0 113 48 of which 48 Option model Mortality rate, in % 0 70 6 Other investments 3,575 of which other equity investments 2,876 of which 941 Adjusted NAV Price, in actuals 281 281 281 of which 36 Market comparable Price, in actuals 0 85 19 of which 1,820 Price Price, in actuals 1 771 26 of which life finance instruments 685 Discounted cash flow Market implied life expectancy, in years 2 16 6 Loans 1,189 of which commercial and industrial loans 368 of which 199 Discounted cash flow Credit spread, in bp 451 8,199 1,344 of which 165 Price Price, in % 10 100 51 of which financial institutions 364 of which 250 Discounted cash flow Credit spread, in bp 314 8,086 1,283 of which 113 Price Price, in % 13 68 58 Other assets 722 of which loans held-for-sale 566 of which 301 Discounted cash flow Credit spread, in bp 355 1,032 375 Recovery rate, in % 54 54 8 of which 234 Market comparable Price, in % 0 145 70 of which 20 Price Price, in % 0 80 57 1 Weighted average is calculated based on the fair value of the instruments. 2 Risk of unexpected large declines in the underlying values occurring between collateral settlement dates. 3 Management's best estimate of the speed at which interest rates will revert to the long-term average. Quantitative information about level 3 assets measured at fair value on a recurring basis (continued) Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Trading assets 4,503 of which debt securities 1,225 of which corporates 478 of which 124 Discounted cash flow Credit spread, in bp 50 1,290 701 Price, in % 0 100 47 Recovery rate, in % 39 39 1 of which 107 Market comparable Price, in % 0 110 63 of which 55 Option model Correlation, in % (50) 100 68 Fund gap risk, in % 2 0 3 1 Volatility, in % 0 163 17 of which 69 Price Price, in % 35 120 92 of which 145 Vendor price Price, in actuals 0 123 79 of which RMBS 424 Discounted cash flow Discount rate, in % 1 29 13 of which derivatives 2,187 of which interest rate products 624 of which 6 Discounted cash flow Funding spread, in bp 109 166 127 Volatility, in % 0 100 97 of which 612 Option model Correlation, in % (4) 100 9 Mean reversion, in % (55) (8) 0 Prepayment rate, in % 0 21 17 Volatility, in % (3) 1 0 of which other derivatives 1,034 Discounted cash flow Market implied life expectancy, in years 2 14 6 Mortality rate, in % 73 138 99 of which other trading assets 896 of which 611 Discounted cash flow Market implied life expectancy, in years 3 14 7 Tax swap rate, in % 30 30 30 of which 189 Market comparable Price, in % 0 130 34 of which 93 Option model Mortality rate, in % 0 70 6 Other investments 3,666 of which other equity investments 2,863 of which 929 Adjusted NAV Price, in actuals 287 287 287 of which 1,919 Price Price, in actuals 1 1,292 54 of which life finance instruments 789 Discounted cash flow Market implied life expectancy, in years 2 16 6 Loans 1,534 of which commercial and industrial loans 717 of which 474 Discounted cash flow Credit spread, in bp 184 3,325 809 of which 6 Market comparable Price, in % 19 19 19 of which 209 Price Price, in % 0 100 50 of which financial institutions 465 of which 327 Discounted cash flow Credit spread, in bp 0 3,212 921 of which 158 Price Price, in % 14 76 31 Other assets 694 of which loans held-for-sale 562 of which 281 Discounted cash flow Credit spread, in bp 0 563 314 of which 254 Market comparable Price, in % 0 139 67 of which 16 Price Price, in % 0 75 54 1 Weighted average is calculated based on the fair value of the instruments. 2 Risk of unexpected large declines in the underlying values occurring between collateral settlement dates. Quantitative information about level 3 liabilities measured at fair value on a recurring basis Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Trading liabilities 2,456 of which derivatives 2,402 of which equity/index-related derivatives 1,447 of which 1,393 Option model Buyback probability, in % 2 50 100 72 Correlation, in % (50) 100 68 Dividend yield, in % 0 15 4 Unadjusted NAV, in actuals 89 416 328 Volatility, in % (1) 185 32 Short-term borrowings 716 of which 142 Discounted cash flow Credit spread, in bp 4 284 3 of which 475 Option model Correlation, in % (50) 100 71 Credit spread, in bp (13) 237 216 Fund gap risk, in % 3 0 2 1 Gap risk, in % 3 0 4 1 Volatility, in % 6 185 35 of which 7 Price Price, in % 19 120 52 Long-term debt 6,656 of which structured notes over two years 4,383 of which 421 Discounted cash flow Credit spread, in bp 9 1,677 99 of which 3,901 Option model Buyback probability, in % 2 50 100 72 Correlation, in % (50) 100 71 Credit spread, in bp (13) 237 216 Fund gap risk, in % 3 0 2 1 Mean reversion, in % 4 15 15 7 Unadjusted NAV, in actuals 89 416 328 Volatility, in % 0 185 26 of which 9 Price Price, in % 25 25 25 of which other debt instruments over two years 1,826 of which 364 Option model Buyback probability, in % 2 50 100 72 Correlation, in % 16 30 24 Price, in actuals 9 9 9 of which 1,461 Price Price, in actuals 9 9 9 1 Weighted average is calculated based on the fair value of the instruments. 2 Estimate of probability of structured notes being put back to the Group at the option of the investor over the remaining life of the financial instruments. 3 Risk of unexpected large declines in the underlying values occurring between collateral settlement dates. 4 Management's best estimate of the speed at which interest rates will revert to the long-term average. Quantitative information about level 3 liabilities measured at fair value on a recurring basis (continued) Valuation Unobservable Minimum Maximum Weighted 1 CHF million, except where indicated Trading liabilities 2,809 of which derivatives 2,784 of which equity/index-related derivatives 1,787 of which 1,696 Option model Buyback probability, in % 2 50 100 72 Correlation, in % (50) 100 67 Dividend yield, in % 0 7 4 Unadjusted NAV, in actuals 101 440 358 Volatility, in % (1) 163 17 of which 63 Price Price, in actuals 0 849 2 Short-term borrowings 1,032 of which 24 Discounted cash flow Credit spread, in bp 0 181 51 of which 905 Option model Buyback probability, in % 2 50 100 72 Correlation, in % (50) 100 70 Fund gap risk, in % 3 0 3 1 Gap risk, in % 3 0 3 1 Unadjusted NAV, in actuals 101 440 358 Volatility, in % 0 163 16 of which 73 Price Price, in % 34 120 94 Long-term debt 9,676 of which structured notes over one year and up to two years 1,464 Option model Buyback probability, in % 2 50 100 72 Correlation, in % (50) 100 69 Fund gap risk, in % 3 0 3 1 Gap risk, in % 3 0 3 1 Unadjusted NAV, in actuals 101 440 358 Volatility, in % 0 163 16 of which structured notes over two years 6,318 of which 474 Discounted cash flow Credit spread, in bp 8 702 72 of which 5,813 Option model Buyback probability, in % 2 50 100 72 Correlation, in % (50) 100 75 Credit spread, in bp 3 92 75 Fund gap risk, in % 3 0 3 1 Unadjusted NAV, in actuals 101 440 358 Volatility, in % 0 163 19 of which 9 Price Price, in % 26 26 26 of which other debt instruments over two years 1,854 of which 382 Option model Buyback probability, in % 2 50 100 72 Correlation, in % 16 30 24 Price, in actuals 9 9 9 of which 1,472 Price Price, in actuals 9 35 9 1 Weighted average is calculated based on the fair value of the instruments. 2 Estimate of probability of structured notes being put back to the Group at the option of the investor over the remaining life of the financial instruments. 3 Risk of unexpected large declines in the underlying values occurring between collateral settlement dates. |
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 2Q22 Cumulative 2Q21 2Q22 2Q21 Financial instruments (CHF million) Customer deposits 27 (18) (1) 0 0 Short-term borrowings (1) (46) 3 0 0 Long-term debt 2,934 1,935 (518) 6 31 of which treasury debt over two years 1,601 1,201 (523) 0 0 of which structured notes over two years 1,080 397 (9) 6 31 Total 2,960 1,871 (516) 6 31 1 Amounts are reflected gross of tax. |
Fair Value, Option, Quantitative Disclosures [Table Text Block] | Difference between the aggregate fair value and unpaid principal balances of fair value option-elected financial instruments 2Q22 4Q21 Aggregate Aggregate Aggregate Aggregate Financial instruments (CHF million) Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 82,392 82,250 142 68,623 68,565 58 Loans 9,099 10,065 (966) 10,243 11,035 (792) Other assets 1 8,099 10,456 (2,357) 8,624 10,777 (2,153) Due to banks and customer deposits (344) (424) 80 (493) (442) (51) Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions (14,145) (14,153) 8 (13,213) (13,212) (1) Short-term borrowings (10,049) (10,199) 150 (10,690) (10,996) 306 Long-term debt 2 (66,140) (77,962) 11,822 (68,722) (71,833) 3,111 Other liabilities (1,253) (1,498) 245 (1,170) (1,403) 233 Non-performing and non-interest-earning loans 3 749 2,885 (2,136) 843 2,657 (1,814) 1 Primarily loans held-for-sale. 2 Long-term debt includes both principal-protected and non-principal protected instruments. For non-principal-protected instruments, the original notional amount has been reported in the aggregate unpaid principal. 3 Included in loans or other assets. Gains and losses on financial instruments 6M22 6M21 Net Net Financial instruments (CHF million) Interest-bearing deposits with banks 5 1 18 1 of which related to credit risk (6) 8 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 412 1 306 1 Other investments (11) 2 293 3 of which related to credit risk (3) 0 Loans (24) 2 277 1 of which related to credit risk (224) 59 Other assets 183 1 405 1 of which related to credit risk (85) 173 Due to banks and customer deposits (43) 2 (37) 2 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions (32) 1 (29) 1 Short-term borrowings 1,069 2 (406) 2 of which related to credit risk 1 (1) Long-term debt 6,115 2 (3,802) 2 of which related to credit risk 1 0 Other liabilities (66) 2 120 3 of which related to credit risk (158) 67 1 Primarily recognized in net interest income. 2 Primarily recognized in trading revenues. 3 Primarily recognized in other revenues. |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Carrying value and fair value of financial instruments not carried at fair value Carrying end of Level 1 Level 2 Level 3 Total 2Q22 (CHF million) Financial assets Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 21,764 0 21,764 0 21,764 Loans 272,679 0 259,081 13,490 272,571 Other financial assets 1 176,550 158,919 17,298 352 176,569 Financial liabilities Due to banks and customer deposits 409,439 231,966 177,404 0 409,370 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 7,423 0 7,423 0 7,423 Short-term borrowings 10,096 0 10,089 0 10,089 Long-term debt 91,870 0 87,000 1,697 88,697 Other financial liabilities 2 12,096 0 11,716 384 12,100 4Q21 (CHF million) Financial assets Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 35,283 0 35,283 0 35,283 Loans 277,766 0 272,527 13,722 286,249 Other financial assets 1 180,024 164,097 15,469 503 180,069 Financial liabilities Due to banks and customer deposits 407,607 243,324 164,289 0 407,613 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 22,061 0 22,061 0 22,061 Short-term borrowings 8,703 0 8,702 0 8,702 Long-term debt 98,174 0 98,841 1,716 100,557 Other financial liabilities 2 12,460 1 12,021 443 12,465 1 Primarily includes cash and due from banks, interest-bearing deposits with banks, loans held-for-sale, cash collateral on derivative instruments, interest and fee receivables and non-marketable equity securities. 2 Primarily includes cash collateral on derivative instruments and interest and fee payables. |
Bank | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Assets and liabilities measured at fair value on a recurring basis 1 Assets 2 Assets (CHF million) Cash and due from banks 0 165 0 – – 165 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 35 82,357 0 – – 82,392 Securities received as collateral 6,132 1,254 0 – – 7,386 Trading assets 50,235 141,085 4,400 (95,071) 583 101,232 of which debt securities 13,814 42,284 1,005 – 27 57,130 of which foreign government 13,504 10,598 91 – – 24,193 of which corporates 34 10,312 299 – 27 10,672 of which RMBS 6 18,127 410 – – 18,543 of which equity securities 23,037 880 275 – 556 24,748 of which derivatives 11,584 97,158 2,398 (95,071) – 16,069 of which interest rate products 3,979 39,170 925 – – – of which foreign exchange products 103 30,751 88 – – – of which equity/index-related products 7,469 23,247 464 – – – of which other derivatives 1 506 706 – – – of which other trading assets 1,800 763 722 – – 3,285 Investment securities 0 737 0 – – 737 Other investments 0 20 3,574 – 391 3,985 of which other equity investments 0 20 2,875 – 321 3,216 of which life finance instruments 0 0 685 – – 685 Loans 0 7,910 1,189 – – 9,099 of which commercial and industrial loans 0 3,266 368 – – 3,634 of which financial institutions 0 2,747 364 – – 3,111 Other intangible assets (mortgage servicing rights) 0 35 255 – – 290 Other assets 115 8,205 722 (426) – 8,616 of which failed purchases 97 874 11 – – 982 of which loans held-for-sale 0 6,551 566 – – 7,117 Total assets at fair value 56,517 241,768 10,140 (95,497) 974 213,902 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 0 355 0 – – 355 Customer deposits 0 3,008 299 – – 3,307 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 0 14,239 0 – – 14,239 Obligation to return securities received as collateral 6,132 1,254 0 – – 7,386 Trading liabilities 22,375 102,907 2,456 (97,772) 1 29,967 of which short positions 9,430 4,530 54 – 1 14,015 of which debt securities 3,565 4,341 7 – – 7,913 of which foreign government 2,914 787 0 – – 3,701 of which corporates 603 3,551 7 – – 4,161 of which equity securities 5,865 189 47 – 1 6,102 of which derivatives 12,945 98,377 2,402 (97,772) – 15,952 of which interest rate products 4,031 37,410 55 – – – of which foreign exchange products 107 30,864 14 – – – of which equity/index-related products 8,765 25,670 1,447 – – – of which other derivatives 11 213 560 – – 296 Short-term borrowings 0 9,333 716 – – 10,049 Long-term debt 0 58,620 6,656 – – 65,276 of which structured notes over one year and up to two years 0 12,668 320 – – 12,988 of which structured notes over two years 0 24,431 4,383 – – 28,814 of which other debt instruments over two years 0 3,141 1,826 – – 4,967 of which high-trigger instruments 0 10,621 0 – – 10,621 Other liabilities 207 3,890 495 (1,988) – 2,604 Total liabilities at fair value 28,714 193,606 10,622 (99,760) 1 133,183 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 0 308 0 – – 308 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 0 68,623 0 – – 68,623 Securities received as collateral 13,848 1,155 14 – – 15,017 Trading assets 54,145 146,768 4,503 (94,782) 665 111,299 of which debt securities 12,191 40,799 1,225 – 82 54,297 of which foreign government 11,996 11,377 35 – – 23,408 of which corporates 72 9,057 478 – 82 9,689 of which RMBS 0 17,033 424 – – 17,457 of which equity securities 34,342 1,486 195 – 583 36,606 of which derivatives 6,224 103,930 2,187 (94,782) – 17,559 of which interest rate products 721 48,083 624 – – – of which foreign exchange products 123 20,686 53 – – – of which equity/index-related products 5,348 29,808 212 – – – of which other derivatives 0 196 1,034 – – – of which other trading assets 1,388 553 896 – – 2,837 Investment securities 0 1,003 0 – – 1,003 Other investments 0 23 3,666 – 404 4,093 of which other equity investments 0 23 2,863 – 351 3,237 of which life finance instruments 0 0 789 – – 789 Loans 0 8,709 1,534 – – 10,243 of which commercial and industrial loans 0 2,267 717 – – 2,984 of which financial institutions 0 3,840 465 – – 4,305 Other intangible assets (mortgage servicing rights) 0 57 167 – – 224 Other assets 121 8,750 694 (381) – 9,184 of which failed purchases 98 1,135 11 – – 1,244 of which loans held-for-sale 0 6,818 562 – – 7,380 Total assets at fair value 68,114 235,396 10,578 (95,163) 1,069 219,994 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 0 477 0 – – 477 Customer deposits 0 3,306 394 – – 3,700 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 0 13,307 0 – – 13,307 Obligation to return securities received as collateral 13,848 1,155 14 – – 15,017 Trading liabilities 19,423 105,865 2,809 (100,559) 1 27,539 of which short positions 11,693 4,974 25 – 1 16,693 of which debt securities 2,809 4,865 3 – – 7,677 of which foreign government 2,667 968 0 – – 3,635 of which corporates 113 3,839 3 – – 3,955 of which equity securities 8,884 109 22 – 1 9,016 of which derivatives 7,730 100,891 2,784 (100,559) – 10,846 of which interest rate products 776 44,039 26 – – – of which foreign exchange products 133 22,646 57 – – – of which equity/index-related products 6,812 27,919 1,787 – – – Short-term borrowings 0 9,658 1,032 – – 10,690 Long-term debt 0 58,112 9,676 – – 67,788 of which structured notes over one year and up to two years 0 11,036 1,464 – – 12,500 of which structured notes over two years 0 24,168 6,318 – – 30,486 of which other debt instruments over two years 0 3,223 1,854 – – 5,077 of which high-trigger instruments 0 10,708 0 – – 10,708 of which other subordinated bonds 0 7,133 0 – – 7,133 Other liabilities 348 2,008 517 (305) – 2,568 Total liabilities at fair value 33,619 193,888 14,442 (100,864) 1 141,086 1 Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements. 2 In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value |
Assets and liabilities measured at fair value on a recurring basis for level 3 | Assets and liabilities measured at fair value on a recurring basis for level 3 Accumulated other Foreign 1 Assets (CHF million) Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 0 0 0 0 0 3 (3) 0 0 0 0 0 0 0 0 0 Securities received as collateral 14 0 0 0 (14) 0 0 0 0 0 0 0 0 0 0 0 Trading assets 4,503 907 (1,174) 3,539 (3,324) 580 (548) 36 (338) 0 (8) 0 0 227 4,400 477 of which debt securities 1,225 515 (733) 2,899 (2,571) 0 0 (106) (313) 0 (8) 0 0 97 1,005 562 of which corporates 478 161 (385) 2,412 (2,048) 0 0 (106) (276) 0 0 0 0 63 299 662 of which RMBS 424 77 (131) 243 (326) 0 0 4 100 0 0 0 0 19 410 28 of which derivatives 2,187 216 (326) 0 0 580 (409) 98 (31) 0 0 0 0 83 2,398 17 of which interest rate products 624 4 (6) 0 0 60 (28) (1) 252 0 0 0 0 20 925 141 of which other derivatives 1,034 10 (5) 0 0 158 (154) 3 (381) 0 0 0 0 41 706 (373) of which other trading assets 896 57 (45) 555 (727) 0 (139) 6 82 0 0 0 0 37 722 (112) Other investments 3,666 71 0 51 (118) 0 0 0 (162) 0 (52) 0 0 118 3,574 (99) of which other equity investments 2,863 71 0 37 (5) 0 0 0 (115) 0 (60) 0 0 84 2,875 (77) of which life finance instruments 789 0 0 14 (105) 0 0 0 (47) 0 0 0 0 34 685 (22) Loans 1,534 313 (317) 0 (20) 3 (369) 21 (64) 0 0 0 0 88 1,189 (97) of which commercial and industrial loans 717 74 (300) 0 (8) 3 (123) 12 (46) 0 0 0 0 39 368 (54) of which financial institutions 465 75 0 0 0 0 (219) 0 10 0 0 0 0 33 364 (17) Other intangible assets (mortgage servicing rights) 167 102 0 0 0 0 0 0 (21) 0 0 0 0 7 255 (21) Other assets 694 170 (114) 510 (512) 114 (199) 6 3 0 4 0 0 46 722 0 of which loans held-for-sale 562 153 (109) 493 (509) 113 (199) 14 9 0 0 0 0 39 566 2 Total assets at fair value 10,578 1,563 (1,605) 4,100 (3,988) 700 (1,119) 63 (582) 0 (56) 0 0 486 10,140 260 Liabilities (CHF million) Customer deposits 394 0 0 0 0 0 (15) 0 (26) 0 0 0 (41) (13) 299 (70) Obligation to return securities received as collateral 14 0 0 0 (14) 0 0 0 0 0 0 0 0 0 0 0 Trading liabilities 2,809 856 (882) 18 (83) 502 (629) 37 (290) 0 0 0 0 118 2,456 (188) of which derivatives 2,784 746 (870) 0 (61) 502 (629) 38 (228) 0 0 0 0 120 2,402 (180) of which equity/index-related derivatives 1,787 611 (596) 0 0 279 (232) (9) (468) 0 0 0 0 75 1,447 (348) of which other derivatives 540 7 (4) 0 (61) 89 (113) 3 73 0 0 0 0 26 560 (15) Short-term borrowings 1,032 124 (522) 0 0 639 (500) (43) (58) 0 0 0 0 44 716 18 Long-term debt 9,676 1,259 (4,863) 0 0 4,531 (2,960) (499) (746) 0 0 (35) (202) 495 6,656 (756) of which structured notes over two years 6,318 1,106 (3,441) 0 0 3,888 (2,595) (416) (586) 0 0 (34) (201) 344 4,383 (740) of which other debt instruments over two years 1,854 0 0 0 0 0 (26) 0 (84) 0 0 0 0 82 1,826 0 Other liabilities 517 41 (2) 8 (21) 58 (71) (2) (22) 1 (35) 0 0 23 495 16 Total liabilities at fair value 14,442 2,280 (6,269) 26 (118) 5,730 (4,175) (507) (1,142) 1 (35) (35) (243) 667 10,622 (980) Net assets/(liabilities) at fair value (3,864) (717) 4,664 4,074 (3,870) (5,030) 3,056 570 560 (1) (21) 35 243 (181) (482) 1,240 1 Changes in unrealized gains/(losses) on total assets at fair value and changes in unrealized (gains)/losses on total liabilities at fair value relating to assets and liabilities held at period end are included in net revenues or accumulated other comprehensive income. As of 6M22, changes in net unrealized gains/(losses) of CHF 1,044 million and CHF (77) Assets and liabilities measured at fair value on a recurring basis for level 3 (continued) Accumulated other Foreign 1 Assets (CHF million) Securities received as collateral 101 0 0 64 (86) 0 0 0 0 0 0 0 0 5 84 0 Trading assets 7,535 594 (1,635) 2,472 (2,976) 508 (1,119) 39 140 0 0 0 0 380 5,938 128 of which debt securities 2,253 296 (736) 1,859 (2,285) 0 0 (7) 138 0 0 0 0 137 1,655 103 of which corporates 1,270 137 (176) 1,403 (1,913) 0 0 (5) 95 0 0 0 0 78 889 99 of which derivatives 3,911 179 (856) 0 0 508 (1,033) 29 (30) 0 0 0 0 175 2,883 72 of which interest rate products 733 59 (81) 0 0 114 (59) 0 18 0 0 0 0 21 805 54 of which other derivatives 1,079 0 0 0 0 153 (157) 0 (55) 0 0 0 0 53 1,073 (60) of which other trading assets 1,247 22 (32) 493 (617) 0 (86) 10 21 0 0 0 0 60 1,118 (47) Other investments 3,054 3 (753) 20 (473) 0 0 0 (17) 0 318 0 0 79 2,231 46 of which other equity investments 2,132 0 (753) 3 (375) 0 0 0 (6) 0 318 0 0 34 1,353 55 of which life finance instruments 920 0 0 17 (94) 0 0 0 (11) 0 0 0 0 45 877 18 Loans 3,669 22 (533) 357 (73) 162 (946) 8 85 0 1 0 0 176 2,928 25 of which commercial and industrial loans 1,347 22 (12) 10 (31) 119 (184) 14 57 0 1 0 0 68 1,411 36 of which financial institutions 1,082 0 (222) 0 (42) 32 (296) 3 40 0 0 0 0 46 643 4 Other intangible assets (mortgage servicing rights) 180 0 0 22 0 0 0 0 0 0 (22) 0 0 9 189 (22) Other assets 1,825 164 (451) 2,500 (2,176) 77 (573) 13 (42) 0 0 0 0 99 1,436 (76) of which loans held-for-sale 1,576 164 (409) 2,469 (2,137) 77 (571) 11 19 0 0 0 0 88 1,287 (41) Total assets at fair value 16,364 783 (3,372) 5,435 (5,784) 747 (2,638) 60 166 0 297 0 0 748 12,806 101 Liabilities (CHF million) Customer deposits 448 0 0 0 0 0 0 0 (8) 0 0 0 (13) 5 432 10 Obligation to return securities received as collateral 101 0 0 64 (86) 0 0 0 0 0 0 0 0 5 84 0 Trading liabilities 4,246 584 (1,961) 80 (24) 710 (1,138) 152 169 0 0 0 0 217 3,035 779 of which derivatives 4,191 566 (1,961) 69 (4) 710 (1,138) 152 193 0 0 0 0 216 2,994 781 of which equity/index-related derivatives 2,010 427 (1,049) 0 0 350 (527) 151 265 0 0 0 0 111 1,738 529 Short-term borrowings 701 155 (207) 0 0 930 (608) (1) 95 0 0 0 0 41 1,106 67 Long-term debt 7,286 2,697 (2,046) 0 0 4,401 (3,119) 62 (8) 0 0 (3) (30) 433 9,673 203 of which structured notes over one year and up to two years 1,133 1,165 (732) 0 0 1,127 (771) 39 97 0 0 0 (1) 67 2,124 39 of which structured notes over two years 5,526 1,532 (1,287) 0 0 3,020 (2,227) 24 (109) 0 0 (2) (29) 329 6,777 (59) Other liabilities 1,250 7 (533) 24 (46) 59 (416) 8 (8) 102 38 0 0 50 535 2 Total liabilities at fair value 14,032 3,443 (4,747) 168 (156) 6,100 (5,281) 221 240 102 38 (3) (43) 751 14,865 1,061 Net assets/(liabilities) at fair value 2,332 (2,660) 1,375 5,267 (5,628) (5,353) 2,643 (161) (74) (102) 259 3 43 (3) (2,059) (960) 1 Changes in unrealized gains/(losses) on total assets at fair value and changes in unrealized (gains)/losses on total liabilities at fair value relating to assets and liabilities held at period end are included in net revenues or accumulated other comprehensive income. As of 6M21, changes in net unrealized gains/(losses) of CHF (1,003) |
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 6M22 Cumulative 6M21 6M22 6M21 Financial instruments (CHF million) Customer deposits 41 (18) 13 0 0 Short-term borrowings 0 (46) 13 0 0 Long-term debt 3,944 1,865 (21) 17 77 of which treasury debt over two years 2,041 1,177 (321) 0 0 of which structured notes over two years 1,476 351 269 17 77 Total 3,985 1,801 5 17 77 1 Amounts are reflected gross of tax. |
Fair Value, Option, Quantitative Disclosures [Table Text Block] | Difference between the fair value and the unpaid principal balances of fair value option-elected financial instruments 6M22 2021 Aggregate Aggregate Aggregate Aggregate Financial instruments (CHF million) Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 82,392 82,250 142 68,623 68,565 58 Loans 9,099 10,065 (966) 10,243 11,035 (792) Other assets 1 8,099 10,456 (2,357) 8,624 10,777 (2,153) Due to banks and customer deposits (344) (424) 80 (493) (442) (51) Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions (14,239) (14,247) 8 (13,307) (13,306) (1) Short-term borrowings (10,049) (10,199) 150 (10,690) (10,996) 306 Long-term debt 2 (65,276) (77,037) 11,761 (67,788) (70,946) 3,158 Other liabilities (1,253) (1,498) 245 (1,170) (1,403) 233 Non-performing and non-interest-earning loans 3 749 2,885 (2,136) 843 2,657 (1,814) 1 Primarily loans held-for-sale. 2 Long-term debt includes both principal-protected and non-principal protected instruments. For non-principal-protected instruments, the original notional amount has been reported in the aggregate unpaid principal. 3 Included in loans or other assets. Gains and losses on financial instruments 6M22 6M21 Net Net Financial instruments (CHF million) Interest-bearing deposits with banks 5 1 18 1 of which related to credit risk (6) 8 Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 412 1 306 1 Other investments (11) 2 293 3 Loans (24) 1 277 1 of which related to credit risk (224) 59 Other assets 183 1 405 1 of which related to credit risk (85) 173 Due to banks and customer deposits (43) 2 (37) 2 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions (32) 1 (29) 1 Short-term borrowings 1,069 2 (406) 2 of which related to credit risk 1 (1) Long-term debt 6,098 2 (3,347) 2 Other liabilities (66) 2 120 3 of which related to credit risk (158) 67 1 Primarily recognized in net interest income. 2 Primarily recognized in trading revenues. 3 Primarily recognized in other revenues. |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Carrying value and fair value of financial instruments not carried at fair value Carrying end of Level 1 Level 2 Level 3 Total 6M22 (CHF million) Financial assets Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 21,764 0 21,764 0 21,764 Loans 281,111 0 267,506 13,490 280,996 Other financial assets 1 175,796 158,147 17,310 351 175,808 Financial liabilities Due to banks and customer deposits 410,715 233,049 177,571 0 410,620 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 7,423 0 7,423 0 7,423 Short-term borrowings 15,518 0 15,512 0 15,512 Long-term debt 87,072 0 82,734 1,684 84,418 Other financial liabilities 2 12,302 0 11,920 384 12,304 2021 (CHF million) Financial assets Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 35,283 0 35,283 0 35,283 Loans 286,438 0 281,195 13,722 294,917 Other financial assets 1 179,217 163,307 15,457 494 179,258 Financial liabilities Due to banks and customer deposits 408,624 244,155 164,475 0 408,630 Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 22,061 0 22,061 0 22,061 Short-term borrowings 14,646 0 14,646 0 14,646 Long-term debt 92,908 0 93,597 1,702 95,299 Other financial liabilities 2 12,542 0 12,105 441 12,546 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, 2022 | |
Assets pledged and collateral | Assets pledged end of 2Q22 4Q21 CHF million Total assets pledged or assigned as collateral 75,638 88,721 of which encumbered 34,424 39,105 |
Fair value of collateral received with the right to sell or repledge | Collateral end of 2Q22 4Q21 CHF million Fair value of collateral received with the right to sell or repledge 245,276 289,898 of which sold or repledged 101,330 144,747 |
Bank | |
Assets pledged and collateral | Assets pledged end of 6M22 2021 CHF million Total assets pledged or assigned as collateral 75,638 88,721 of which encumbered 34,424 39,105 |
Fair value of collateral received with the right to sell or repledge | Collateral end of 6M22 2021 CHF million Fair value of collateral received with the right to sell or repledge 245,276 289,898 of which sold or repledged 101,330 144,747 |
Business developments - Subsequ
Business developments - Subsequent events (Details 4) - Subsequent Event SFr in Billions | Jul. 27, 2022 CHF (SFr) |
Subsequent Event [Line Items] | |
Subsequent Event, Description | Management changes On July 27, 2022, Credit Suisse announced that the Board of Directors has appointed Ulrich Körner as the new CEO of the Group. He will take over this position from Thomas Gottstein, who will step down from August 1, 2022. Ulrich Körner is currently CEO of the Asset Management division of the Group. Strategic review On July 27, 2022, Credit Suisse announced that it is conducting a comprehensive strategic review with the following objectives: ■ Consider alternatives that go beyond the conclusions of last year’s strategic review, particularly given the changed economic and market environment. The goal of the appraisal will be to shape a more focused, agile Group with a significantly lower absolute cost base. ■ Strengthen its global wealth management franchise, universal bank in Switzerland and multi-specialist asset management business. ■ Transform the Investment Bank into a capital-light, advisory-led banking business and more focused markets business that complements the growth of the wealth management and Swiss Bank franchises. ■ Evaluate strategic options for the securitized products business, which may include attracting third-party capital to free up additional resources for the bank’s growth areas. ■ Reduce the Group’s adjusted operating expenses at constant 2021 foreign exchange rates to below CHF 15.5 billion in the medium term, supported by company-wide cost efficiency and digital transformation. The development and implementation of the new strategy will be overseen by the full Board of Directors and supported by a Board led ad-hoc Investment Bank Strategy Committee, with Michael Klein as Chair and also including Mirko Bianchi, Richard Meddings and Blythe Masters. The Group will provide further details on the progress of the strategic review, including specific performance goals, with its third-quarter 2022 results. As the strategy review and eventual implementation progresses, restructuring costs relating to asset impairments and liability valuations may arise in connection with any business activities the Group may exit or curtail and their related infrastructure. |
Adjusted operating expenses target | SFr 15.5 |
Business developments - Busines
Business developments - Business developments (Details 5) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Subsidiary, Sale of Stock [Line Items] | |||||
Net revenues | SFr 3,645 | SFr 4,412 | SFr 5,103 | SFr 8,057 | SFr 12,677 |
Total operating expenses | SFr 4,754 | SFr 4,950 | SFr 4,315 | SFr 9,704 | SFr 8,252 |
Segment information - Income st
Segment information - Income statement related (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Segment Reporting Information | |||||
Net revenues | SFr 3,645 | SFr 4,412 | SFr 5,103 | SFr 8,057 | SFr 12,677 |
Income/(loss) before taxes | (1,173) | (428) | 813 | (1,601) | 56 |
Operating Segments [Member] | Investment Bank | |||||
Segment Reporting Information | |||||
Net revenues | 1,109 | 1,938 | 1,844 | 3,047 | 5,728 |
Income/(loss) before taxes | (1,116) | 124 | (16) | (992) | (2,326) |
Operating Segments [Member] | Asset Management | |||||
Segment Reporting Information | |||||
Net revenues | 311 | 361 | 417 | 672 | 817 |
Income/(loss) before taxes | 30 | 53 | 120 | 83 | 251 |
Operating Segments [Member] | Swiss Universal Bank (old) | |||||
Segment Reporting Information | |||||
Net revenues | 1,050 | 1,109 | 1,023 | 2,159 | 2,054 |
Income/(loss) before taxes | 402 | 471 | 445 | 873 | 857 |
Operating Segments [Member] | International Wealth Management (old) | |||||
Segment Reporting Information | |||||
Net revenues | 1,266 | 1,177 | 1,913 | 2,443 | 3,998 |
Income/(loss) before taxes | (96) | (357) | 770 | (453) | 1,748 |
Corporate Center | |||||
Segment Reporting Information | |||||
Net revenues | (91) | (173) | (94) | (264) | 80 |
Income/(loss) before taxes | SFr (393) | SFr (719) | SFr (506) | (1,112) | (474) |
Bank | |||||
Segment Reporting Information | |||||
Net revenues | 8,130 | 12,882 | |||
Income/(loss) before taxes | (1,754) | 15 | |||
Bank | Operating Segments [Member] | Investment Bank | |||||
Segment Reporting Information | |||||
Net revenues | 3,047 | 5,728 | |||
Income/(loss) before taxes | (992) | (2,326) | |||
Bank | Operating Segments [Member] | Asset Management | |||||
Segment Reporting Information | |||||
Net revenues | 672 | 817 | |||
Income/(loss) before taxes | 83 | 251 | |||
Bank | Operating Segments [Member] | Swiss Universal Bank (old) | |||||
Segment Reporting Information | |||||
Net revenues | 2,159 | 2,054 | |||
Income/(loss) before taxes | 873 | 857 | |||
Bank | Operating Segments [Member] | International Wealth Management (old) | |||||
Segment Reporting Information | |||||
Net revenues | 2,443 | 3,998 | |||
Income/(loss) before taxes | (453) | 1,748 | |||
Bank | Adjustments | |||||
Segment Reporting Information | |||||
Net revenues | (191) | 285 | |||
Income/(loss) before taxes | SFr (1,265) | SFr (515) |
Segment information - Balance s
Segment information - Balance sheet related (Details 2) - CHF (SFr) SFr in Millions | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
Segment Reporting Information | |||
Total assets | SFr 727,365 | SFr 739,554 | SFr 755,833 |
Operating Segments | Investment Bank | |||
Segment Reporting Information | |||
Total assets | 254,561 | 253,958 | 274,112 |
Operating Segments | Asset Management | |||
Segment Reporting Information | |||
Total assets | 3,785 | 3,659 | 3,603 |
Operating Segments | Swiss Universal Bank (old) | |||
Segment Reporting Information | |||
Total assets | 219,151 | 222,152 | 221,478 |
Operating Segments | International Wealth Management (old) | |||
Segment Reporting Information | |||
Total assets | 205,387 | 204,256 | 201,326 |
Corporate Center | |||
Segment Reporting Information | |||
Total assets | 44,481 | SFr 55,529 | 55,314 |
Bank | |||
Segment Reporting Information | |||
Total assets | 730,295 | 759,214 | |
Bank | Operating Segments | Investment Bank | |||
Segment Reporting Information | |||
Total assets | 254,561 | 274,112 | |
Bank | Operating Segments | Asset Management | |||
Segment Reporting Information | |||
Total assets | 3,785 | 3,603 | |
Bank | Operating Segments | Swiss Universal Bank (old) | |||
Segment Reporting Information | |||
Total assets | 219,151 | 221,478 | |
Bank | Operating Segments | International Wealth Management (old) | |||
Segment Reporting Information | |||
Total assets | 205,387 | 201,326 | |
Bank | Adjustments | |||
Segment Reporting Information | |||
Total assets | SFr 47,411 | SFr 58,695 |
Net interest income (Details)
Net interest income (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Net interest income | |||||
Loans | SFr 1,307 | SFr 1,194 | SFr 1,277 | SFr 2,501 | SFr 2,542 |
Investment securities | (12) | 0 | 0 | (12) | 0 |
Trading assets | 561 | 702 | 656 | 1,263 | 1,502 |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 386 | 233 | 311 | 619 | 652 |
Other | 232 | 105 | 182 | 337 | 317 |
Interest and dividend income | 2,474 | 2,234 | 2,426 | 4,708 | 5,013 |
Deposits | (278) | (54) | (38) | (332) | (89) |
Short-term borrowings | (16) | (8) | (40) | (24) | (42) |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (140) | (100) | (209) | (240) | (485) |
Long-term debt | (727) | (536) | (660) | (1,263) | (1,203) |
Other | (118) | (77) | (63) | (195) | (124) |
Interest expense | (1,279) | (775) | (1,010) | (2,054) | (1,943) |
Net interest income | SFr 1,195 | SFr 1,459 | SFr 1,416 | 2,654 | 3,070 |
Bank | |||||
Net interest income | |||||
Loans | 2,479 | 2,514 | |||
Investment securities | (12) | 0 | |||
Trading assets | 1,264 | 1,503 | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 619 | 652 | |||
Other | 335 | 318 | |||
Interest and dividend income | 4,685 | 4,987 | |||
Deposits | (330) | (84) | |||
Short-term borrowings | (28) | 1 | |||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (240) | (485) | |||
Long-term debt | (1,205) | (1,182) | |||
Other | (197) | (124) | |||
Interest expense | (2,000) | (1,874) | |||
Net interest income | SFr 2,685 | SFr 3,113 |
Commissions and fees (Details)
Commissions and fees (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Commissions and fees | |||||
Commissions and fees | SFr 2,230 | SFr 2,601 | SFr 3,158 | SFr 4,831 | SFr 6,895 |
Lending business | |||||
Commissions and fees | |||||
Commissions and fees | 360 | 435 | 484 | 795 | 1,000 |
Investment and portfolio management | |||||
Commissions and fees | |||||
Commissions and fees | 780 | 828 | 891 | 1,608 | 1,752 |
Other securities business | |||||
Commissions and fees | |||||
Commissions and fees | 16 | 13 | 15 | 29 | 28 |
Fiduciary business | |||||
Commissions and fees | |||||
Commissions and fees | 796 | 841 | 906 | 1,637 | 1,780 |
Underwriting | |||||
Commissions and fees | |||||
Commissions and fees | 125 | 239 | 626 | 364 | 1,615 |
Brokerage | |||||
Commissions and fees | |||||
Commissions and fees | 587 | 690 | 694 | 1,277 | 1,603 |
Underwriting and brokerage | |||||
Commissions and fees | |||||
Commissions and fees | 712 | 929 | 1,320 | 1,641 | 3,218 |
Other services | |||||
Commissions and fees | |||||
Commissions and fees | SFr 362 | SFr 396 | SFr 448 | 758 | 897 |
Bank | |||||
Commissions and fees | |||||
Commissions and fees | 4,806 | 6,926 | |||
Bank | Lending business | |||||
Commissions and fees | |||||
Commissions and fees | 791 | 997 | |||
Bank | Investment and portfolio management | |||||
Commissions and fees | |||||
Commissions and fees | 1,578 | 1,699 | |||
Bank | Other securities business | |||||
Commissions and fees | |||||
Commissions and fees | 29 | 29 | |||
Bank | Fiduciary business | |||||
Commissions and fees | |||||
Commissions and fees | 1,607 | 1,728 | |||
Bank | Underwriting | |||||
Commissions and fees | |||||
Commissions and fees | 370 | 1,664 | |||
Bank | Brokerage | |||||
Commissions and fees | |||||
Commissions and fees | 1,277 | 1,624 | |||
Bank | Underwriting and brokerage | |||||
Commissions and fees | |||||
Commissions and fees | 1,647 | 3,288 | |||
Bank | Other services | |||||
Commissions and fees | |||||
Commissions and fees | SFr 761 | SFr 913 |
Trading revenues (Details)
Trading revenues (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Trading revenues | |||||
Trading revenues | SFr 41 | SFr (36) | SFr 153 | SFr 5 | SFr 1,964 |
Interest rate products | |||||
Trading revenues | |||||
Trading revenues | (1,084) | (365) | 154 | (1,449) | 906 |
Foreign exchange products | |||||
Trading revenues | |||||
Trading revenues | 241 | 329 | 358 | 570 | 506 |
Equity/index-related products | |||||
Trading revenues | |||||
Trading revenues | 425 | 84 | (117) | 509 | 884 |
Credit products | |||||
Trading revenues | |||||
Trading revenues | 822 | 8 | (271) | 830 | (304) |
Commodity, emission and energy products | |||||
Trading revenues | |||||
Trading revenues | (17) | 59 | (7) | 42 | 2 |
Other trading securities | |||||
Trading revenues | |||||
Trading revenues | SFr (346) | SFr (151) | SFr 36 | (497) | (30) |
Bank | |||||
Trading revenues | |||||
Trading revenues | (46) | 1,924 | |||
Bank | Interest rate products | |||||
Trading revenues | |||||
Trading revenues | (1,445) | 893 | |||
Bank | Foreign exchange products | |||||
Trading revenues | |||||
Trading revenues | 568 | 497 | |||
Bank | Equity/index-related products | |||||
Trading revenues | |||||
Trading revenues | 456 | 868 | |||
Bank | Credit products | |||||
Trading revenues | |||||
Trading revenues | 830 | (304) | |||
Bank | Commodity, emission and energy products | |||||
Trading revenues | |||||
Trading revenues | 42 | 2 | |||
Bank | Other trading securities | |||||
Trading revenues | |||||
Trading revenues | SFr (497) | SFr (32) |
Other revenues (Details)
Other revenues (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Other Revenues | |||||
Noncontrolling interests without SEI | SFr 0 | SFr 0 | SFr 4 | SFr 0 | SFr 3 |
Loans held-for-sale | (14) | (2) | (58) | (16) | (99) |
Long-lived assets held-for-sale | 16 | 165 | 3 | 181 | 1 |
Equity method investments | 53 | 43 | 55 | 96 | 84 |
Other investments | (63) | 15 | 131 | (48) | 330 |
Other | 187 | 167 | 241 | 354 | 429 |
Other revenues | SFr 179 | SFr 388 | SFr 376 | 567 | 748 |
Bank | |||||
Other Revenues | |||||
Loans held-for-sale | (16) | (99) | |||
Long-lived assets held-for-sale | 181 | 1 | |||
Equity method investments | 96 | 84 | |||
Other investments | (48) | 332 | |||
Other | 472 | 601 | |||
Other revenues | SFr 685 | SFr 919 |
Provision for credit losses (De
Provision for credit losses (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Provision for credit losses | |||||
Loans held at amortized cost | SFr 73 | SFr 41 | SFr (28) | SFr 114 | SFr (52) |
Other financial assets held at amortized cost | 2 | (148) | 56 | (146) | 4,490 |
Off-balance sheet credit exposures | (11) | (3) | (53) | (14) | (69) |
Provision for credit losses | 64 | (110) | (25) | (46) | 4,369 |
Archegos Capital Management [Member] | |||||
Provision for credit losses | |||||
Other financial assets held at amortized cost | SFr 0 | SFr (155) | SFr 70 | (155) | 4,500 |
Bank | |||||
Provision for credit losses | |||||
Loans held at amortized cost | 114 | (52) | |||
Other financial assets held at amortized cost | (147) | 4,494 | |||
Off-balance sheet credit exposures | (14) | (69) | |||
Provision for credit losses | (47) | 4,373 | |||
Bank | Archegos Capital Management [Member] | |||||
Provision for credit losses | |||||
Other financial assets held at amortized cost | SFr (155) | SFr 4,500 |
Compensation and benefits (Deta
Compensation and benefits (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Compensation and benefits | |||||
Salaries and variable compensation | SFr 1,982 | SFr 2,030 | SFr 1,997 | SFr 4,012 | SFr 3,846 |
Social security | 173 | 204 | 166 | 377 | 324 |
Other | 237 | 224 | 193 | 461 | 393 |
Compensation and benefits | 2,392 | 2,458 | 2,356 | 4,850 | 4,563 |
Defined Benefit Plan, Service Cost | 65 | 65 | 60 | 130 | 120 |
Defined benefit and defined contribution | |||||
Compensation and benefits | |||||
Defined Benefit Plan, Service Cost | SFr 131 | SFr 128 | SFr 120 | 259 | 250 |
Bank | |||||
Compensation and benefits | |||||
Salaries and variable compensation | 3,518 | 3,449 | |||
Social security | 323 | 278 | |||
Other | 400 | 369 | |||
Compensation and benefits | 4,241 | 4,096 | |||
Bank | Defined benefit and defined contribution | |||||
Compensation and benefits | |||||
Defined Benefit Plan, Service Cost | 230 | 250 | |||
Bank | International | |||||
Compensation and benefits | |||||
Defined Benefit Plan, Service Cost | SFr 8 | SFr 7 |
General and administrative ex_3
General and administrative expenses (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
General and Administrative Expenses | |||||
Occupancy expenses | SFr 247 | SFr 237 | SFr 231 | SFr 484 | SFr 494 |
IT, machinery, etc. | 462 | 407 | 383 | 869 | 756 |
Provisions and losses | 499 | 710 | 273 | 1,209 | 330 |
Travel and entertainment | 61 | 44 | 32 | 105 | 61 |
Professional services | 532 | 521 | 454 | 1,053 | 827 |
Communication and market data services | 136 | 131 | 128 | 267 | 255 |
Amortization and impairment of other intangible assets | 1 | 1 | 2 | 2 | 4 |
Other | 67 | 97 | 86 | 164 | 238 |
General and administrative expenses | 2,005 | 2,148 | 1,589 | 4,153 | 2,965 |
Net Periodic Defined Benefits Expense (Reversal of Expense), Excluding Service Cost Component | SFr (49) | SFr (49) | SFr (42) | (98) | (94) |
Bank | |||||
General and Administrative Expenses | |||||
Occupancy expenses | 441 | 449 | |||
IT, machinery, etc. | 697 | 597 | |||
Provisions and losses | 1,205 | 330 | |||
Travel and entertainment | 92 | 52 | |||
Professional services | 1,980 | 1,609 | |||
Communication and market data services | 236 | 226 | |||
Amortization and impairment of other intangible assets | 2 | 4 | |||
Other | 342 | 397 | |||
General and administrative expenses | 4,995 | 3,664 | |||
Net Periodic Defined Benefits Expense (Reversal of Expense), Excluding Service Cost Component | SFr 3 | SFr (10) |
Restructuring expenses (Details
Restructuring expenses (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring expenses | SFr 80 | SFr 46 | SFr 45 | SFr 126 | SFr 70 |
General and Administrative Expense [Member] | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring expenses | 15 | 4 | 43 | 19 | 57 |
of which pensions | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring expenses | 4 | 0 | (4) | 4 | (11) |
Compensation and benefits | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring expenses | 65 | 42 | 2 | 107 | 13 |
of which severance | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring expenses | 15 | 13 | (1) | 28 | 6 |
of which accelerated deferred compensation | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring expenses | SFr 46 | SFr 25 | SFr 3 | 71 | 7 |
Bank | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring expenses | 120 | 80 | |||
Bank | General and Administrative Expense [Member] | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring expenses | 15 | 66 | |||
Bank | of which pensions | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring expenses | 1 | 4 | |||
Bank | Compensation and benefits | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring expenses | 105 | 14 | |||
Bank | of which severance | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring expenses | 27 | 7 | |||
Bank | of which accelerated deferred compensation | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring expenses | SFr 70 | SFr 7 |
Restructuring provision - Rollf
Restructuring provision - Rollforward (Details 2) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Restructuring provision | |||||
Restructuring Reserve, Beginning Balance | SFr 25 | SFr 19 | SFr 42 | SFr 19 | SFr 52 |
Restructuring expenses | 80 | 46 | 45 | 126 | 70 |
Utilization | 20 | 11 | 42 | 31 | 69 |
Restructuring Reserve, Ending Balance | SFr 30 | 25 | 25 | 30 | 25 |
Stock compensation plan | Share awards | |||||
Restructuring provision | |||||
Vesting period | 3 years | ||||
General and Administrative Expense [Member] | |||||
Restructuring provision | |||||
Restructuring Reserve, Beginning Balance | SFr 0 | 0 | 3 | 0 | 2 |
Restructuring expenses | 15 | 4 | 43 | 19 | 57 |
Utilization | 10 | 4 | 26 | 14 | 35 |
Restructuring Reserve, Ending Balance | 0 | 0 | 3 | 0 | 3 |
of which pensions | |||||
Restructuring provision | |||||
Restructuring expenses | 4 | 0 | (4) | 4 | (11) |
Compensation and benefits | |||||
Restructuring provision | |||||
Restructuring Reserve, Beginning Balance | 25 | 19 | 39 | 19 | 50 |
Restructuring expenses | 15 | 13 | (1) | 28 | 6 |
Utilization | 10 | 7 | 16 | 17 | 34 |
Restructuring Reserve, Ending Balance | 30 | 25 | 22 | 30 | 22 |
Unsettled share-based compensation obligations classified as a component of total shareholders equity | |||||
Restructuring provision | |||||
Restructuring expenses | 22 | 8 | 1 | 30 | 2 |
Other personnel-related charges | |||||
Restructuring provision | |||||
Restructuring expenses | 28 | 21 | 2 | 49 | 5 |
Excluding unsettled compensation, pension obligations and accelerated accumulated depreciation | |||||
Restructuring provision | |||||
Restructuring expenses | 25 | 17 | 25 | 42 | 42 |
General and Administrative Expense, Excluding accelerated accumulated depreciation and pension obligations [Member] | |||||
Restructuring provision | |||||
Restructuring expenses | 10 | 4 | 26 | 14 | 36 |
Accelerated accumulated depreciation | |||||
Restructuring provision | |||||
Restructuring expenses | 1 | 0 | 21 | 1 | 32 |
Bank | |||||
Restructuring provision | |||||
Restructuring Reserve, Beginning Balance | 19 | 19 | 49 | ||
Restructuring expenses | 120 | 80 | |||
Utilization | 30 | 61 | |||
Restructuring Reserve, Ending Balance | 29 | 25 | SFr 29 | 25 | |
Bank | Stock compensation plan | Share awards | |||||
Restructuring provision | |||||
Vesting period | 3 years | ||||
Bank | General and Administrative Expense [Member] | |||||
Restructuring provision | |||||
Restructuring Reserve, Beginning Balance | 0 | SFr 0 | 2 | ||
Restructuring expenses | 15 | 66 | |||
Utilization | 13 | 29 | |||
Restructuring Reserve, Ending Balance | 0 | 3 | 0 | 3 | |
Bank | of which pensions | |||||
Restructuring provision | |||||
Restructuring expenses | 1 | 4 | |||
Bank | Compensation and benefits | |||||
Restructuring provision | |||||
Restructuring Reserve, Beginning Balance | SFr 19 | 19 | 47 | ||
Restructuring expenses | 27 | 7 | |||
Utilization | 17 | 32 | |||
Restructuring Reserve, Ending Balance | SFr 29 | SFr 22 | 29 | 22 | |
Bank | Unsettled share-based compensation obligations classified as a component of total shareholders equity | |||||
Restructuring provision | |||||
Restructuring expenses | 30 | 2 | |||
Bank | Other personnel-related charges | |||||
Restructuring provision | |||||
Restructuring expenses | 48 | 5 | |||
Bank | Excluding unsettled compensation, pension obligations and accelerated accumulated depreciation | |||||
Restructuring provision | |||||
Restructuring expenses | 40 | 37 | |||
Bank | General and Administrative Expense, Excluding accelerated accumulated depreciation and pension obligations [Member] | |||||
Restructuring provision | |||||
Restructuring expenses | 13 | 30 | |||
Bank | Accelerated accumulated depreciation | |||||
Restructuring provision | |||||
Restructuring expenses | SFr 1 | SFr 32 |
Earnings per share (Details)
Earnings per share (Details) - CHF (SFr) SFr / shares in Units, shares in Millions, SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Net income/(loss) attributable to shareholders | |||||
Net income/(loss) attributable to shareholders | SFr (1,593) | SFr (273) | SFr 253 | SFr (1,866) | SFr 1 |
Net income attributable to shareholders for basic earnings per share | (1,593) | (273) | 253 | (1,866) | 1 |
Available for common shares | (1,593) | (273) | 252 | (1,866) | 1 |
Available for mandatory convertible securities | 1 | ||||
Net income/(loss) attributable to shareholders for diluted earnings per share | (1,593) | (273) | 253 | (1,866) | 1 |
Available for common shares | SFr (1,593) | SFr (273) | 252 | SFr (1,866) | SFr 1 |
Net Income (Loss) Available to Common Stockholders, Diluted, Available for mandatory convertible securities | SFr 1 | ||||
Weighted-average shares outstanding | |||||
Weighted-average shares outstanding for basic earnings per share available for common shares (in shares) | 2,646.5 | 2,617.9 | 2,453.9 | 2,632.2 | 2,450.3 |
Dilutive share options and warrants (in shares) | 0 | 0 | 0.8 | 0 | 0.6 |
Dilutive share awards (in shares) | 0 | 0 | 55.1 | 0 | 73.6 |
Weighted-average shares outstanding for diluted earnings per share available for common shares (in shares) | 2,646.5 | 2,617.9 | 2,509.8 | 2,632.2 | 2,524.5 |
Weighted-average shares outstanding for basic/diluted earnings per share available for mandatory convertible securities | 130.8 | 65.4 | |||
Basic earnings per share available for common shares (CHF) | |||||
Basic earnings/(loss) per share (in CHF per share) | SFr (0.60) | SFr (0.10) | SFr 0.10 | SFr (0.71) | SFr 0 |
Diluted earnings per share available for common shares (CHF) | |||||
Diluted earnings/(loss) per share (in CHF per share) | SFr (0.60) | SFr (0.10) | SFr 0.10 | SFr (0.71) | SFr 0 |
Weighted-average potential dilutive common shares | 12.4 | 14.5 | 9.6 | 13.4 | 8.1 |
Weighted-average share options and warrants (antidilutive) | 2.8 | 0.8 | 1.8 | ||
Weighted-average share awards (antidilutive) | 32.5 | 64.8 | 48.7 |
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, 2022 | Mar. 31, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Disaggregation of Revenue [Line Items] | |||||
Revenues from contracts with customers | SFr 1,866 | SFr 2,164 | SFr 2,670 | SFr 4,030 | SFr 5,889 |
Other securities business [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenues from contracts with customers | 16 | 13 | 15 | 29 | 28 |
Underwriting [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenues from contracts with customers | 125 | 239 | 626 | 364 | 1,615 |
Brokerage [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenues from contracts with customers | 586 | 690 | 693 | 1,276 | 1,601 |
Investment Advice [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenues from contracts with customers | 780 | 828 | 891 | 1,608 | 1,752 |
Service, Other [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenues from contracts with customers | SFr 359 | SFr 394 | SFr 445 | 753 | 893 |
Bank | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenues from contracts with customers | 4,040 | 5,952 | |||
Bank | Other securities business [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenues from contracts with customers | 29 | 29 | |||
Bank | Underwriting [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenues from contracts with customers | 370 | 1,664 | |||
Bank | Brokerage [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenues from contracts with customers | 1,277 | 1,623 | |||
Bank | Investment Advice [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenues from contracts with customers | 1,578 | 1,699 | |||
Bank | Service, Other [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenues from contracts with customers | SFr 786 | SFr 937 |
Revenue from contracts with c_4
Revenue from contracts with customers (Details 2) - CHF (SFr) SFr in Millions | 3 Months Ended | ||
Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | |
Contract balances [Line Items] | |||
Accounts Receivable, Net | SFr 769 | SFr 777 | SFr 865 |
Contract with Customer, Liability | 59 | 58 | 55 |
Contract with Customer, Liability, Revenue Recognized | 10 | 14 | 9 |
Contact with customer, Revenue recognized in the reporting period from performance obligations satisfied in previous periods | 0 | ||
Bank | |||
Contract balances [Line Items] | |||
Accounts Receivable, Net | 802 | 792 | 865 |
Contract with Customer, Liability | 59 | 58 | 55 |
Contract with Customer, Liability, Revenue Recognized | 10 | SFr 14 | SFr 9 |
Contact with customer, Revenue recognized in the reporting period from performance obligations satisfied in previous periods | SFr 0 |
Trading assets and liabilitie_2
Trading assets and liabilities (Details) - CHF (SFr) SFr in Millions | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
Schedule of Trading Assets and Liabilities | |||
Trading assets | SFr 101,095 | SFr 106,971 | SFr 111,141 |
Trading liabilities | 29,967 | 28,184 | 27,535 |
Debt securities | |||
Schedule of Trading Assets and Liabilities | |||
Trading assets | 57,030 | 52,565 | 54,198 |
Equity securities | |||
Schedule of Trading Assets and Liabilities | |||
Trading assets | 24,711 | 34,097 | 36,546 |
Derivative instruments | |||
Schedule of Trading Assets and Liabilities | |||
Trading assets | 16,069 | 16,810 | 17,559 |
Trading liabilities | 15,952 | 12,366 | 10,846 |
Other trading securities | |||
Schedule of Trading Assets and Liabilities | |||
Trading assets | 3,285 | 3,499 | 2,838 |
Short positions | |||
Schedule of Trading Assets and Liabilities | |||
Trading liabilities | 14,015 | SFr 15,818 | 16,689 |
Bank | |||
Schedule of Trading Assets and Liabilities | |||
Trading assets | 101,232 | 111,299 | |
Trading liabilities | 29,967 | 27,539 | |
Bank | Debt securities | |||
Schedule of Trading Assets and Liabilities | |||
Trading assets | 57,130 | 54,297 | |
Bank | Equity securities | |||
Schedule of Trading Assets and Liabilities | |||
Trading assets | 24,748 | 36,606 | |
Bank | Derivative instruments | |||
Schedule of Trading Assets and Liabilities | |||
Trading assets | 16,069 | 17,559 | |
Trading liabilities | 15,952 | 10,846 | |
Bank | Other trading securities | |||
Schedule of Trading Assets and Liabilities | |||
Trading assets | 3,285 | 2,837 | |
Bank | Short positions | |||
Schedule of Trading Assets and Liabilities | |||
Trading liabilities | SFr 14,015 | SFr 16,693 |
Trading assets and liabilitie_3
Trading assets and liabilities - Cash collateral - netted (Details 2) - CHF (SFr) SFr in Millions | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
Cash collateral - netted | |||
Cash collateral paid | SFr 13,707 | SFr 14,881 | SFr 17,869 |
Cash collateral received | 10,522 | 10,027 | 12,056 |
Cash collateral - not netted | |||
Cash collateral paid | 9,674 | 9,262 | 7,659 |
Cash collateral received | 5,065 | SFr 5,016 | 5,533 |
Bank | |||
Cash collateral - netted | |||
Cash collateral paid | 13,707 | 17,869 | |
Cash collateral received | 11,102 | 12,056 | |
Cash collateral - not netted | |||
Cash collateral paid | 9,674 | 7,659 | |
Cash collateral received | SFr 5,102 | SFr 5,533 |
Investment securities (Details)
Investment securities (Details) - CHF (SFr) SFr in Millions | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
Investment securities disclosures | |||
Available-for-sale Securities, Debt Securities | SFr 739 | SFr 809 | SFr 1,005 |
Total investment securities | 739 | SFr 809 | 1,005 |
Bank | |||
Investment securities disclosures | |||
Available-for-sale Securities, Debt Securities | 737 | 1,003 | |
Total investment securities | SFr 737 | SFr 1,003 |
Investment securities by type (
Investment securities by type (Details 2) - CHF (SFr) SFr in Millions | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
Available-for-sale securities | |||
Amortized cost, before allowance for credit losses, Debt Securities | SFr 851 | SFr 1,013 | |
Debt Securities, Available-for-sale, Allowance for Credit Loss | 0 | ||
Gross unrealized gains, Debt securities | 0 | 0 | |
Gross unrealized losses, Debt securities | 112 | 8 | |
Fair value, Debt securities | 739 | SFr 809 | 1,005 |
Debt securities issued by the Swiss federal, cantonal or local government entities | |||
Available-for-sale securities | |||
Amortized cost, before allowance for credit losses, Debt Securities | 2 | 2 | |
Gross unrealized gains, Debt securities | 0 | 0 | |
Gross unrealized losses, Debt securities | 0 | 0 | |
Fair value, Debt securities | 2 | 2 | |
Corporate debt securities | |||
Available-for-sale securities | |||
Amortized cost, before allowance for credit losses, Debt Securities | 849 | 1,011 | |
Gross unrealized gains, Debt securities | 0 | 0 | |
Gross unrealized losses, Debt securities | 112 | 8 | |
Fair value, Debt securities | 737 | 1,003 | |
Bank | |||
Available-for-sale securities | |||
Amortized cost, before allowance for credit losses, Debt Securities | 849 | 1,011 | |
Debt Securities, Available-for-sale, Allowance for Credit Loss | 0 | ||
Gross unrealized gains, Debt securities | 0 | 0 | |
Gross unrealized losses, Debt securities | 112 | 8 | |
Fair value, Debt securities | 737 | 1,003 | |
Bank | Corporate debt securities | |||
Available-for-sale securities | |||
Amortized cost, before allowance for credit losses, Debt Securities | 849 | 1,011 | |
Gross unrealized gains, Debt securities | 0 | 0 | |
Gross unrealized losses, Debt securities | 112 | 8 | |
Fair value, Debt securities | SFr 737 | SFr 1,003 |
Investment securities - Unreali
Investment securities - Unrealized losses/fair value (Details 3) - CHF (SFr) SFr in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Debt Securities, Available-for-sale, Unrealized Loss Position [Abstract] | ||
Fair value, less than 12 months | SFr 625 | SFr 683 |
Fair value, 12 months or more | 89 | 0 |
Fair value, total | 714 | 683 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Gross unrealized losses, less than 12 months | 100 | 8 |
Gross unrealized losses, 12 months or more | 12 | 0 |
Gross unrealized losses, total | 112 | 8 |
Corporate debt securities | ||
Debt Securities, Available-for-sale, Unrealized Loss Position [Abstract] | ||
Fair value, less than 12 months | 625 | 683 |
Fair value, 12 months or more | 89 | 0 |
Fair value, total | 714 | 683 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Gross unrealized losses, less than 12 months | 100 | 8 |
Gross unrealized losses, 12 months or more | 12 | 0 |
Gross unrealized losses, total | 112 | 8 |
Bank | ||
Debt Securities, Available-for-sale, Unrealized Loss Position [Abstract] | ||
Fair value, less than 12 months | 625 | 683 |
Fair value, 12 months or more | 89 | 0 |
Fair value, total | 714 | 683 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Gross unrealized losses, less than 12 months | 100 | 8 |
Gross unrealized losses, 12 months or more | 12 | 0 |
Gross unrealized losses, total | 112 | 8 |
Bank | Corporate debt securities | ||
Debt Securities, Available-for-sale, Unrealized Loss Position [Abstract] | ||
Fair value, less than 12 months | 625 | 683 |
Fair value, 12 months or more | 89 | 0 |
Fair value, total | 714 | 683 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Gross unrealized losses, less than 12 months | 100 | 8 |
Gross unrealized losses, 12 months or more | 12 | 0 |
Gross unrealized losses, total | SFr 112 | SFr 8 |
Investment securities - Proceed
Investment securities - Proceeds/realized gains/losses (Details 4) - CHF (SFr) SFr in Millions | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Proceeds from sales, realized gains and realized losses from available-for-sale securities | ||
Proceeds from sales | SFr 45 | SFr 0 |
Realized losses | 6 | 0 |
Bank | ||
Proceeds from sales, realized gains and realized losses from available-for-sale securities | ||
Proceeds from sales | 45 | 0 |
Realized losses | SFr 6 | SFr 0 |
Investment securities - Maturit
Investment securities - Maturities of amortized costs/FV/Avg yield (Details 6) - CHF (SFr) SFr in Millions | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
Debt Securities, Available-for-sale [Line Items] | |||
Due within 1 year, amortized cost | SFr 25 | ||
Due from 1 to 5 years, amortized cost | 90 | ||
Due from 5 to 10 years, amortized cost | 736 | ||
Total, amortized cost, before allowance for credit losses | 851 | SFr 1,013 | |
Due within 1 year, fair value | 25 | ||
Due from 1 to 5 years, fair value | 83 | ||
Due from 5 to 10 years, fair value | 631 | ||
Total, fair value | SFr 739 | SFr 809 | 1,005 |
Due within 1 year, average yield (as a percent) | 0.67% | ||
Due from 1 to 5 years, average yield (as a percent) | (0.02%) | ||
Due from 5 to 10 years, average yield (as a percent) | 0.05% | ||
Total, average yield (as a percent) | 0.06% | ||
Bank | |||
Debt Securities, Available-for-sale [Line Items] | |||
Due within 1 year, amortized cost | SFr 23 | ||
Due from 1 to 5 years, amortized cost | 90 | ||
Due from 5 to 10 years, amortized cost | 736 | ||
Total, amortized cost, before allowance for credit losses | 849 | 1,011 | |
Due within 1 year, fair value | 23 | ||
Due from 1 to 5 years, fair value | 83 | ||
Due from 5 to 10 years, fair value | 631 | ||
Total, fair value | SFr 737 | SFr 1,003 | |
Due within 1 year, average yield (as a percent) | 0.43% | ||
Due from 1 to 5 years, average yield (as a percent) | (0.02%) | ||
Due from 5 to 10 years, average yield (as a percent) | 0.05% | ||
Total, average yield (as a percent) | 0.05% |
Investment securities - Allowan
Investment securities - Allowance for credit loss (Details 7) | Jun. 30, 2022 |
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward] | |
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 10 |
Other investments (Details)
Other investments (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Other investments | |||||
Other investments | SFr 5,783 | SFr 5,794 | SFr 5,826 | SFr 5,783 | |
Accumulated depreciation, real estate held for investment | 28 | 32 | 32 | 28 | |
Impairment charges | 0 | 0 | 0 | ||
Foreclosed or Repossessed, Real Estate [Member] | |||||
Other investments | |||||
Other investments | 21 | 6 | 9 | 21 | |
Equity method investments | |||||
Other investments | |||||
Other investments | 1,660 | 1,657 | 1,644 | 1,660 | |
Equity securities (without a readily determinable fair value) | |||||
Other investments | |||||
Other investments | 3,351 | 3,343 | 3,317 | 3,351 | |
of which at net asset value | |||||
Other investments | |||||
Other investments | 71 | 66 | 54 | 71 | |
of which at measurement alternative | |||||
Other investments | |||||
Other investments | 342 | 346 | 347 | 342 | |
of which at fair value | |||||
Other investments | |||||
Other investments | 2,890 | 2,884 | 2,869 | 2,890 | |
of which at cost less impairment | |||||
Other investments | |||||
Other investments | 48 | 47 | 47 | 48 | |
Real estate held for investment | |||||
Other investments | |||||
Other investments | 87 | 75 | 76 | 87 | |
Real estate held for investment | Foreclosed or Repossessed, Real Estate [Member] | |||||
Other investments | |||||
Other investments | 21 | 6 | 6 | 21 | |
Life finance instruments | |||||
Other investments | |||||
Other investments | 685 | SFr 719 | 789 | 685 | |
Bank | |||||
Other investments | |||||
Other investments | 5,733 | 5,788 | 5,733 | ||
Accumulated depreciation, real estate held for investment | 24 | 28 | 24 | ||
Impairment charges | 0 | SFr 0 | |||
Bank | Foreclosed or Repossessed, Real Estate [Member] | |||||
Other investments | |||||
Other investments | 21 | 9 | 21 | ||
Bank | Equity method investments | |||||
Other investments | |||||
Other investments | 1,652 | 1,636 | 1,652 | ||
Bank | Equity securities (without a readily determinable fair value) | |||||
Other investments | |||||
Other investments | 3,349 | 3,315 | 3,349 | ||
Bank | of which at net asset value | |||||
Other investments | |||||
Other investments | 70 | 53 | 70 | ||
Bank | of which at measurement alternative | |||||
Other investments | |||||
Other investments | 340 | 345 | 340 | ||
Bank | of which at fair value | |||||
Other investments | |||||
Other investments | 2,891 | 2,869 | 2,891 | ||
Bank | of which at cost less impairment | |||||
Other investments | |||||
Other investments | 48 | 48 | 48 | ||
Bank | Real estate held for investment | |||||
Other investments | |||||
Other investments | 47 | 48 | 47 | ||
Bank | Real estate held for investment | Foreclosed or Repossessed, Real Estate [Member] | |||||
Other investments | |||||
Other investments | 21 | 6 | 21 | ||
Bank | Life finance instruments | |||||
Other investments | |||||
Other investments | SFr 685 | SFr 789 | SFr 685 |
Other investments (Details 2)
Other investments (Details 2) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Other investments | |||||
Impairments and downward adjustments | SFr (47) | SFr (47) | |||
Impairments and downward adjustments, Annual Amount | (4) | SFr (5) | |||
Upward adjustments | 138 | 138 | |||
Upward adjustments, Annual Amount | 0 | 0 | |||
Other Revenue, Other Investments | (63) | SFr 15 | SFr 131 | (48) | 330 |
Bank | |||||
Other investments | |||||
Impairments and downward adjustments | (47) | (47) | |||
Impairments and downward adjustments, Annual Amount | (4) | (5) | |||
Upward adjustments | SFr 138 | 138 | |||
Upward adjustments, Annual Amount | 0 | 0 | |||
Other Revenue, Other Investments | SFr (48) | SFr 332 |
Loans, allowance for loan los_3
Loans, allowance for loan losses and credit quality (Details) - CHF (SFr) SFr in Millions | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 |
Loans | ||||||
Gross loans | SFr 287,006 | SFr 289,093 | SFr 293,064 | |||
of which held at amortized cost | 277,907 | 279,548 | 282,821 | |||
of which held at fair value | 9,099 | 9,545 | 10,243 | |||
Net (unearned income)/deferred expenses | (73) | (81) | (81) | |||
Allowance for credit losses | (1,360) | (1,330) | (1,297) | SFr (1,412) | SFr (1,527) | SFr (1,536) |
Net loans | 285,573 | 287,682 | 291,686 | |||
Non-performing loans | 1,649 | 1,819 | 1,666 | |||
Non-interest-earning loans | 345 | 378 | 298 | |||
Non-accrual loans | 1,994 | 2,197 | 1,964 | 2,279 | 2,041 | |
Restructured loans | 571 | 384 | 367 | |||
Potential problem loans | 516 | 451 | 436 | |||
Total other impaired loans | 1,087 | 835 | 803 | |||
Gross impaired loans | 3,081 | 3,032 | 2,767 | |||
Consumer mortgages secured by residential real estate for which formal foreclosure proceedings according to local requirements of the applicable jurisdiction were in process | 152 | 184 | 130 | |||
Switzerland | ||||||
Loans | ||||||
Gross loans | 168,354 | 169,454 | 167,957 | |||
Foreign | ||||||
Loans | ||||||
Gross loans | 118,652 | 119,639 | 125,107 | |||
Corporate and institutional | ||||||
Loans | ||||||
Gross loans | 126,446 | 125,868 | 126,203 | |||
of which held at amortized cost | 117,459 | 116,155 | ||||
Allowance for credit losses | (977) | (961) | (940) | (1,067) | (1,198) | (1,218) |
Non-accrual loans | 1,053 | 925 | 1,166 | 1,317 | ||
Corporate and institutional | Real estate | ||||||
Loans | ||||||
Gross loans | 27,253 | 28,556 | 28,529 | |||
of which held at amortized cost | 26,705 | 27,805 | ||||
Non-accrual loans | 143 | 167 | 293 | 324 | ||
Corporate and institutional | Commercial and industrial loans | ||||||
Loans | ||||||
Gross loans | 68,769 | 68,432 | 69,129 | |||
of which held at amortized cost | 65,133 | 66,147 | ||||
Non-accrual loans | 707 | 698 | 790 | 925 | ||
Corporate and institutional | Financial institutions | ||||||
Loans | ||||||
Gross loans | 26,893 | 25,733 | 25,222 | |||
of which held at amortized cost | 23,783 | 20,916 | ||||
Non-accrual loans | 192 | 41 | 63 | 68 | ||
Corporate and institutional | Governments and public institutions | ||||||
Loans | ||||||
Gross loans | 3,531 | 3,147 | 3,323 | |||
of which held at amortized cost | 1,838 | 1,287 | ||||
Non-accrual loans | 11 | 19 | 20 | 0 | ||
Consumer | ||||||
Loans | ||||||
Gross loans | 160,560 | 163,225 | 166,861 | |||
of which held at amortized cost | 160,448 | 166,666 | ||||
Allowance for credit losses | (383) | (369) | (357) | (345) | SFr (329) | (318) |
Non-accrual loans | 941 | 1,039 | 1,113 | 724 | ||
Consumer | Mortgages | ||||||
Loans | ||||||
Gross loans | 109,483 | 110,166 | 110,533 | |||
of which held at amortized cost | 109,483 | 110,533 | ||||
Non-accrual loans | 503 | 572 | 615 | 418 | ||
Consumer | Loans collateralized by securities | ||||||
Loans | ||||||
Gross loans | 45,658 | 47,828 | 51,253 | |||
of which held at amortized cost | 45,658 | 51,253 | ||||
Non-accrual loans | 238 | 262 | 298 | 105 | ||
Consumer | Consumer finance | ||||||
Loans | ||||||
Gross loans | 5,419 | SFr 5,231 | 5,075 | |||
of which held at amortized cost | 5,307 | 4,880 | ||||
Non-accrual loans | 200 | 205 | 200 | 201 | ||
Bank | ||||||
Loans | ||||||
Gross loans | 295,437 | 301,735 | ||||
of which held at amortized cost | 286,338 | 291,492 | ||||
of which held at fair value | 9,099 | 10,243 | ||||
Net (unearned income)/deferred expenses | (73) | (81) | ||||
Allowance for credit losses | (1,359) | (1,296) | (1,411) | (1,535) | ||
Net loans | 294,005 | 300,358 | ||||
Non-performing loans | 1,649 | 1,666 | ||||
Non-interest-earning loans | 334 | 286 | ||||
Non-accrual loans | 1,983 | 1,952 | 2,267 | 2,029 | ||
Restructured loans | 571 | 367 | ||||
Potential problem loans | 516 | 436 | ||||
Total other impaired loans | 1,087 | 803 | ||||
Gross impaired loans | 3,070 | 2,755 | ||||
Consumer mortgages secured by residential real estate for which formal foreclosure proceedings according to local requirements of the applicable jurisdiction were in process | 152 | 130 | ||||
Bank | Switzerland | ||||||
Loans | ||||||
Gross loans | 176,055 | 175,903 | ||||
Bank | Foreign | ||||||
Loans | ||||||
Gross loans | 119,382 | 125,832 | ||||
Bank | Corporate and institutional | ||||||
Loans | ||||||
Gross loans | 134,877 | 134,874 | ||||
of which held at amortized cost | 117,448 | 116,143 | ||||
Allowance for credit losses | (976) | (939) | (1,066) | (1,217) | ||
Non-accrual loans | 1,042 | 913 | 1,154 | 1,305 | ||
Bank | Corporate and institutional | Real estate | ||||||
Loans | ||||||
Gross loans | 27,253 | 28,529 | ||||
of which held at amortized cost | 26,705 | 27,805 | ||||
Non-accrual loans | 143 | 167 | 293 | 324 | ||
Bank | Corporate and institutional | Commercial and industrial loans | ||||||
Loans | ||||||
Gross loans | 69,424 | 69,756 | ||||
of which held at amortized cost | 65,122 | 66,135 | ||||
Non-accrual loans | 696 | 686 | 778 | 913 | ||
Bank | Corporate and institutional | Financial institutions | ||||||
Loans | ||||||
Gross loans | 34,669 | 33,266 | ||||
of which held at amortized cost | 23,783 | 20,916 | ||||
Non-accrual loans | 192 | 41 | 63 | 68 | ||
Bank | Corporate and institutional | Governments and public institutions | ||||||
Loans | ||||||
Gross loans | 3,531 | 3,323 | ||||
of which held at amortized cost | 1,838 | 1,287 | ||||
Non-accrual loans | 11 | 19 | 20 | 0 | ||
Bank | Consumer | ||||||
Loans | ||||||
Gross loans | 160,560 | 166,861 | ||||
of which held at amortized cost | 160,448 | 166,666 | ||||
Allowance for credit losses | (383) | (357) | (345) | (318) | ||
Non-accrual loans | 941 | 1,039 | 1,113 | 724 | ||
Bank | Consumer | Mortgages | ||||||
Loans | ||||||
Gross loans | 109,483 | 110,533 | ||||
of which held at amortized cost | 109,483 | 110,533 | ||||
Non-accrual loans | 503 | 572 | 615 | 418 | ||
Bank | Consumer | Loans collateralized by securities | ||||||
Loans | ||||||
Gross loans | 45,658 | 51,253 | ||||
of which held at amortized cost | 45,658 | 51,253 | ||||
Non-accrual loans | 238 | 262 | 298 | 105 | ||
Bank | Consumer | Consumer finance | ||||||
Loans | ||||||
Gross loans | 5,419 | 5,075 | ||||
of which held at amortized cost | 5,307 | 4,880 | ||||
Non-accrual loans | SFr 200 | SFr 205 | SFr 200 | SFr 201 |
CECL - Financial instruments _3
CECL - Financial instruments measured at amortized cost and credit losses (Details) - CHF (SFr) SFr in Millions | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 |
Overview of financial instruments measured at amortized cost, by balance sheet position [Line Items] | ||||||
Cash and due from banks, Amortized cost basis | SFr 159,307 | SFr 164,510 | ||||
Cash and due from banks, Allowance for credit losses | 0 | 0 | ||||
Cash and due from banks, Net carrying value | 159,307 | 164,510 | ||||
Interest-bearing deposits with banks, Amortized cost basis | 856 | 1,323 | ||||
Interest-bearing deposits with banks, Allowance for credit losses | (5) | 0 | ||||
Interest-bearing deposits with banks, Net carrying value | 851 | 1,323 | ||||
Securities purchased under resale agreements and securities borrowing transactions, Amortized cost basis | 21,764 | 35,283 | ||||
Securities purchased under resale agreements and securities borrowing transactions, Allowance for credit losses | 0 | 0 | ||||
Securities purchased under resale agreements and securities borrowing transactions, Net carrying value | 21,764 | 35,283 | ||||
Loans, Amortized cost basis | 277,834 | 282,740 | ||||
Allowance for credit losses | (1,360) | SFr (1,330) | (1,297) | SFr (1,412) | SFr (1,527) | SFr (1,536) |
Loans, Net carrying value | 276,474 | 281,443 | ||||
Brokerage receivables, Amortized cost basis | 19,275 | 20,873 | ||||
Brokerage receivables, Allowance for credit losses | (4,215) | (4,069) | (4,186) | |||
Brokerage receivables, Net carrying value | 15,060 | 16,687 | ||||
Other assets, Amortized cost basis | 16,375 | 14,175 | ||||
Other assets, Allowance for credit losses | (31) | SFr (30) | (30) | |||
Other assets, Net carrying value | 16,344 | 14,145 | ||||
Total, Amortized cost basis | 495,411 | 518,904 | ||||
Total, Allowance for credit losses | (5,611) | (5,513) | ||||
Total, Net carrying value | 489,800 | 513,391 | ||||
Bank | ||||||
Overview of financial instruments measured at amortized cost, by balance sheet position [Line Items] | ||||||
Cash and due from banks, Amortized cost basis | 158,535 | 163,718 | ||||
Cash and due from banks, Allowance for credit losses | 0 | 0 | ||||
Cash and due from banks, Net carrying value | 158,535 | 163,718 | ||||
Interest-bearing deposits with banks, Amortized cost basis | 785 | 1,256 | ||||
Interest-bearing deposits with banks, Allowance for credit losses | (5) | 0 | ||||
Interest-bearing deposits with banks, Net carrying value | 780 | 1,256 | ||||
Securities purchased under resale agreements and securities borrowing transactions, Amortized cost basis | 21,764 | 35,283 | ||||
Securities purchased under resale agreements and securities borrowing transactions, Allowance for credit losses | 0 | 0 | ||||
Securities purchased under resale agreements and securities borrowing transactions, Net carrying value | 21,764 | 35,283 | ||||
Loans, Amortized cost basis | 286,265 | 291,411 | ||||
Allowance for credit losses | (1,359) | (1,296) | SFr (1,411) | SFr (1,535) | ||
Loans, Net carrying value | 284,906 | 290,115 | ||||
Brokerage receivables, Amortized cost basis | 19,277 | 20,875 | ||||
Brokerage receivables, Allowance for credit losses | (4,215) | (4,186) | ||||
Brokerage receivables, Net carrying value | 15,062 | 16,689 | ||||
Other assets, Amortized cost basis | 16,462 | 14,226 | ||||
Other assets, Allowance for credit losses | (29) | (28) | ||||
Other assets, Net carrying value | 16,433 | 14,198 | ||||
Total, Amortized cost basis | 503,088 | 526,769 | ||||
Total, Allowance for credit losses | (5,608) | (5,510) | ||||
Total, Net carrying value | SFr 497,480 | SFr 521,259 |
CECL - Financial instruments _4
CECL - Financial instruments measured at amortized cost and credit losses (Details 1) - CHF (SFr) SFr in Millions | 6 Months Ended | ||
Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | |
Overview of financial instruments measured at amortized cost, by balance sheet position [Line Items] | |||
Collateral Dependent Financial Assets, Collateral Coverage Ratio, Recovery Mgt Investment Bank/Asia Pacific | 90% | 90% | |
Collateral Dependent Financial Assets, Collateral Coverage Ratio, Recovery Mgt International Wealth Management | 87% | 89% | |
Collateral Dependent Financial Assets, Collateral Coverage Ratio, Recovery Mgt Swiss Universal Bank | 85% | 86% | |
Accrued interest excluded from amortized cost base of total Financial assets held-at-amortized cost, before allowance of credit losses | SFr 358 | SFr 301 | |
Financial Assets, Held-to-Maturity, Cost Practical Expedient, Excluded Accrued Interest [true false] | true | ||
Allowance for credit losses on accrued interest excluded from amortized cost base of total Financial assets held at amortized cost | SFr 0 | 0 | |
Accrued interest excluded from amortized cost base of total Interest-bearing deposits with banks | 1 | ||
Interest Bearing Deposits Banks, Practical Expedient, Excluded Accrued Interest [true false] | true | ||
Accrued interest excluded from amortized cost base of total Securities purchased under resale agreements and securities borrowing transactions | SFr 2 | 1 | |
Reverse Repos and Securities Borrowing, Practical Expedient, Excluded Accrued Interest [true false] | true | ||
Accrued interest excluded from amortized cost base of total Loans held at amortized cost | SFr 355 | 295 | |
Financing Receivable, Practical Expedient, Accrued Interest Exclusion [true false] | true | ||
Accrued interest excluded from amortized cost base of total Brokerage receivables | SFr 1 | 4 | |
Brokerage receivables, Practical Expedient, Excluded Accrued Interest [true false] | true | ||
Financing Receivables,Accrued Interest on Nonaccrual Loans Included | SFr 64 | 86 | |
Bank | |||
Overview of financial instruments measured at amortized cost, by balance sheet position [Line Items] | |||
Accrued interest excluded from amortized cost base of total Financial assets held-at-amortized cost, before allowance of credit losses | SFr 358 | 301 | |
Financial Assets, Held-to-Maturity, Cost Practical Expedient, Excluded Accrued Interest [true false] | true | ||
Allowance for credit losses on accrued interest excluded from amortized cost base of total Financial assets held at amortized cost | SFr 0 | 0 | |
Accrued interest excluded from amortized cost base of total Interest-bearing deposits with banks | 1 | ||
Interest Bearing Deposits Banks, Practical Expedient, Excluded Accrued Interest [true false] | true | ||
Accrued interest excluded from amortized cost base of total Securities purchased under resale agreements and securities borrowing transactions | SFr 2 | 1 | |
Reverse Repos and Securities Borrowing, Practical Expedient, Excluded Accrued Interest [true false] | true | ||
Accrued interest excluded from amortized cost base of total Loans held at amortized cost | SFr 355 | 295 | |
Financing Receivable, Practical Expedient, Accrued Interest Exclusion [true false] | true | ||
Accrued interest excluded from amortized cost base of total Brokerage receivables | SFr 1 | 4 | |
Brokerage receivables, Practical Expedient, Excluded Accrued Interest [true false] | true | ||
Financing Receivables,Accrued Interest on Nonaccrual Loans Included | SFr 63 | SFr 85 |
CECL (Details 2)
CECL (Details 2) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Loans Held At Amortized Cost, Allowance for Credit Losses [Roll Forward] | |||||
Loans Held at Amortized Cost, Allowance for Credit Losses, Beginning Balance | SFr 1,330 | SFr 1,297 | SFr 1,527 | SFr 1,297 | SFr 1,536 |
Current-period provision for expected credit losses | 80 | 55 | (13) | 135 | (36) |
of which provisions for interest | 7 | 14 | 15 | 21 | 16 |
Gross write-offs | (62) | (33) | (90) | (95) | (128) |
Recoveries | 3 | 4 | 2 | 7 | 4 |
Net write-offs | (59) | (29) | (88) | (88) | (124) |
Foreign currency translation impact and other adjustments, net | 9 | 7 | (14) | 16 | 36 |
Loans Held at Amortized Cost, Allowance for Credit Losses, Ending Balance | 1,360 | 1,330 | 1,412 | 1,360 | 1,412 |
of which individually evaluated | 826 | 818 | 869 | 826 | 869 |
of which collectively evaluated | 534 | 512 | 543 | 534 | 543 |
Loans held at amortized cost | |||||
Purchases | 1,169 | 1,159 | 993 | 2,328 | 1,986 |
Reclassifications from loans held-for-sale | 95 | 0 | 0 | 95 | 13 |
Reclassifications to loans held-for-sale | 608 | 872 | 1,652 | 1,480 | 2,120 |
Sales | 585 | 698 | 1,633 | 1,283 | 2,007 |
Corporate and institutional | |||||
Loans Held At Amortized Cost, Allowance for Credit Losses [Roll Forward] | |||||
Loans Held at Amortized Cost, Allowance for Credit Losses, Beginning Balance | 961 | 940 | 1,198 | 940 | 1,218 |
Current-period provision for expected credit losses | 59 | 33 | (44) | 92 | (79) |
of which provisions for interest | 2 | 9 | 8 | 11 | 8 |
Gross write-offs | (51) | (18) | (77) | (69) | (101) |
Recoveries | 2 | 1 | 0 | 3 | 0 |
Net write-offs | (49) | (17) | (77) | (66) | (101) |
Foreign currency translation impact and other adjustments, net | 6 | 5 | (10) | 11 | 29 |
Loans Held at Amortized Cost, Allowance for Credit Losses, Ending Balance | 977 | 961 | 1,067 | 977 | 1,067 |
of which individually evaluated | 545 | 545 | 614 | 545 | 614 |
of which collectively evaluated | 432 | 416 | 453 | 432 | 453 |
Loans held at amortized cost | |||||
Purchases | 1,159 | 1,153 | 981 | 2,312 | 1,969 |
Reclassifications from loans held-for-sale | 95 | 0 | 0 | 95 | 13 |
Reclassifications to loans held-for-sale | 608 | 872 | 1,652 | 1,480 | 2,120 |
Sales | 585 | 698 | 1,633 | 1,283 | 2,007 |
Consumer | |||||
Loans Held At Amortized Cost, Allowance for Credit Losses [Roll Forward] | |||||
Loans Held at Amortized Cost, Allowance for Credit Losses, Beginning Balance | 369 | 357 | 329 | 357 | 318 |
Current-period provision for expected credit losses | 21 | 22 | 31 | 43 | 43 |
of which provisions for interest | 5 | 5 | 7 | 10 | 8 |
Gross write-offs | (11) | (15) | (13) | (26) | (27) |
Recoveries | 1 | 3 | 2 | 4 | 4 |
Net write-offs | (10) | (12) | (11) | (22) | (23) |
Foreign currency translation impact and other adjustments, net | 3 | 2 | (4) | 5 | 7 |
Loans Held at Amortized Cost, Allowance for Credit Losses, Ending Balance | 383 | 369 | 345 | 383 | 345 |
of which individually evaluated | 281 | 273 | 255 | 281 | 255 |
of which collectively evaluated | 102 | 96 | 90 | 102 | 90 |
Loans held at amortized cost | |||||
Purchases | 10 | 6 | 12 | 16 | 17 |
Reclassifications from loans held-for-sale | 0 | 0 | 0 | 0 | 0 |
Reclassifications to loans held-for-sale | 0 | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | 0 | 0 |
Bank | |||||
Loans Held At Amortized Cost, Allowance for Credit Losses [Roll Forward] | |||||
Loans Held at Amortized Cost, Allowance for Credit Losses, Beginning Balance | 1,296 | 1,296 | 1,535 | ||
Current-period provision for expected credit losses | 135 | (36) | |||
of which provisions for interest | 21 | 16 | |||
Gross write-offs | (95) | (128) | |||
Recoveries | 7 | 4 | |||
Net write-offs | (88) | (124) | |||
Foreign currency translation impact and other adjustments, net | 16 | 36 | |||
Loans Held at Amortized Cost, Allowance for Credit Losses, Ending Balance | 1,359 | 1,411 | 1,359 | 1,411 | |
of which individually evaluated | 825 | 868 | 825 | 868 | |
of which collectively evaluated | 534 | 543 | 534 | 543 | |
Loans held at amortized cost | |||||
Purchases | 2,328 | 1,986 | |||
Reclassifications from loans held-for-sale | 95 | 13 | |||
Reclassifications to loans held-for-sale | 1,480 | 2,120 | |||
Sales | 1,283 | 2,007 | |||
Bank | Corporate and institutional | |||||
Loans Held At Amortized Cost, Allowance for Credit Losses [Roll Forward] | |||||
Loans Held at Amortized Cost, Allowance for Credit Losses, Beginning Balance | 939 | 939 | 1,217 | ||
Current-period provision for expected credit losses | 92 | (79) | |||
of which provisions for interest | 11 | 8 | |||
Gross write-offs | (69) | (101) | |||
Recoveries | 3 | 0 | |||
Net write-offs | (66) | (101) | |||
Foreign currency translation impact and other adjustments, net | 11 | 29 | |||
Loans Held at Amortized Cost, Allowance for Credit Losses, Ending Balance | 976 | 1,066 | 976 | 1,066 | |
of which individually evaluated | 544 | 613 | 544 | 613 | |
of which collectively evaluated | 432 | 453 | 432 | 453 | |
Loans held at amortized cost | |||||
Purchases | 2,312 | 1,969 | |||
Reclassifications from loans held-for-sale | 95 | 13 | |||
Reclassifications to loans held-for-sale | 1,480 | 2,120 | |||
Sales | 1,283 | 2,007 | |||
Bank | Consumer | |||||
Loans Held At Amortized Cost, Allowance for Credit Losses [Roll Forward] | |||||
Loans Held at Amortized Cost, Allowance for Credit Losses, Beginning Balance | SFr 357 | 357 | 318 | ||
Current-period provision for expected credit losses | 43 | 43 | |||
of which provisions for interest | 10 | 8 | |||
Gross write-offs | (26) | (27) | |||
Recoveries | 4 | 4 | |||
Net write-offs | (22) | (23) | |||
Foreign currency translation impact and other adjustments, net | 5 | 7 | |||
Loans Held at Amortized Cost, Allowance for Credit Losses, Ending Balance | 383 | 345 | 383 | 345 | |
of which individually evaluated | 281 | 255 | 281 | 255 | |
of which collectively evaluated | SFr 102 | SFr 90 | 102 | 90 | |
Loans held at amortized cost | |||||
Purchases | 16 | 17 | |||
Reclassifications from loans held-for-sale | 0 | 0 | |||
Reclassifications to loans held-for-sale | 0 | 0 | |||
Sales | SFr 0 | SFr 0 |
CECL (Details 4)
CECL (Details 4) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Other financial assets, Held At Amortized Cost, Allowance for Credit Losses [Roll Forward] | |||||
Cash and due from banks, held at amortized cost, Allowance for Credit Loss, Beginning Balance | SFr 0 | SFr 0 | |||
Interest-bearing deposits with banks, held at amortized cost, Allowance for Credit Loss, Beginning Balance | 0 | 0 | |||
Securities purchased under resale agreements and securities borrowing transactions, held at amortized cost, Allowance for Credit Loss, Beginning Balance | 0 | 0 | |||
Brokerage receivables, held at amortized cost, Allowance for Credit Loss, Beginning Balance | SFr 4,069 | 4,186 | 4,186 | ||
Other assets, held at amortized cost, Allowance for Credit Loss, Beginning Balance | 30 | 30 | 30 | ||
Other financial assets, held at amortized cost, Allowance for Credit Loss, Beginning Balance | 4,102 | 4,216 | SFr 4,488 | 4,216 | SFr 55 |
Other financial assets, Current-period provision for expected credit losses | 2 | (148) | 56 | (146) | 4,490 |
Other financial assets, Gross write-offs | (1) | (3) | (4) | (4) | (4) |
Other financial assets, Recovery | 0 | 0 | 0 | 0 | 0 |
Other financial assets, Net write-offs | (1) | (3) | (4) | (4) | (4) |
Other financial assets, Foreign currency translation impact and other adjustments, net | 148 | 37 | (70) | 185 | (71) |
Cash and due from banks, held at amortized cost, Allowance for Credit Loss, Ending Balance | 0 | 0 | |||
Interest-bearing deposits with banks, held at amortized cost, Allowance for Credit Loss, Ending Balance | 5 | 5 | |||
Securities purchased under resale agreements and securities borrowing transactions, held at amortized cost, Allowance for Credit Loss, Ending Balance | 0 | 0 | |||
Brokerage receivables, held at amortized cost, Allowance for Credit Loss, Ending Balance | 4,215 | 4,069 | 4,215 | ||
Other assets, held at amortized cost, Allowance for Credit Loss, Ending Balance | 31 | 30 | 31 | ||
Other financial assets, held at amortized cost, Allowance for Credit Loss, Ending Balance | 4,251 | 4,102 | 4,470 | 4,251 | 4,470 |
Other financial assets, individually evaluated | 4,232 | 4,084 | 4,450 | 4,232 | 4,450 |
Other financial assets, collectively evaluated | 19 | 18 | 20 | 19 | 20 |
Archegos Capital Management [Member] | |||||
Other financial assets, Held At Amortized Cost, Allowance for Credit Losses [Roll Forward] | |||||
Other financial assets, Current-period provision for expected credit losses | 0 | (155) | 70 | (155) | 4,500 |
Bank | |||||
Other financial assets, Held At Amortized Cost, Allowance for Credit Losses [Roll Forward] | |||||
Cash and due from banks, held at amortized cost, Allowance for Credit Loss, Beginning Balance | 0 | 0 | |||
Interest-bearing deposits with banks, held at amortized cost, Allowance for Credit Loss, Beginning Balance | 0 | 0 | |||
Securities purchased under resale agreements and securities borrowing transactions, held at amortized cost, Allowance for Credit Loss, Beginning Balance | 0 | 0 | |||
Brokerage receivables, held at amortized cost, Allowance for Credit Loss, Beginning Balance | 4,186 | 4,186 | |||
Other assets, held at amortized cost, Allowance for Credit Loss, Beginning Balance | 28 | 28 | |||
Other financial assets, held at amortized cost, Allowance for Credit Loss, Beginning Balance | SFr 4,214 | 4,214 | 48 | ||
Other financial assets, Current-period provision for expected credit losses | (147) | 4,494 | |||
Other financial assets, Gross write-offs | (4) | (4) | |||
Other financial assets, Recovery | 0 | 0 | |||
Other financial assets, Net write-offs | (4) | (4) | |||
Other financial assets, Foreign currency translation impact and other adjustments, net | 186 | (70) | |||
Cash and due from banks, held at amortized cost, Allowance for Credit Loss, Ending Balance | 0 | 0 | |||
Interest-bearing deposits with banks, held at amortized cost, Allowance for Credit Loss, Ending Balance | 5 | 5 | |||
Securities purchased under resale agreements and securities borrowing transactions, held at amortized cost, Allowance for Credit Loss, Ending Balance | 0 | 0 | |||
Brokerage receivables, held at amortized cost, Allowance for Credit Loss, Ending Balance | 4,215 | 4,215 | |||
Other assets, held at amortized cost, Allowance for Credit Loss, Ending Balance | 29 | 29 | |||
Other financial assets, held at amortized cost, Allowance for Credit Loss, Ending Balance | 4,249 | 4,468 | 4,249 | 4,468 | |
Other financial assets, individually evaluated | 4,230 | 4,448 | 4,230 | 4,448 | |
Other financial assets, collectively evaluated | SFr 19 | SFr 20 | 19 | 20 | |
Bank | Archegos Capital Management [Member] | |||||
Other financial assets, Held At Amortized Cost, Allowance for Credit Losses [Roll Forward] | |||||
Other financial assets, Current-period provision for expected credit losses | SFr (155) | SFr 4,500 |
CECL (Details 6)
CECL (Details 6) SFr in Millions | 6 Months Ended | ||||
Jun. 30, 2022 CHF (SFr) month day | Jun. 30, 2021 CHF (SFr) | Mar. 31, 2022 CHF (SFr) | Dec. 31, 2021 CHF (SFr) | Dec. 31, 2020 CHF (SFr) | |
Loans Held At Amortized Cost, Nonaccrual [Line Items] | |||||
Amortized cost of non-accrual assets | SFr 1,994 | SFr 2,279 | SFr 2,197 | SFr 1,964 | SFr 2,041 |
Interest income recognized | 10 | 20 | |||
Amortized cost of non-accrual assets with no specific allowance | SFr 139 | 244 | |||
Number of days of default on interest or principal considered to assess credit worthiness (in months) | month | 3 | ||||
Period of anticipated repayment after which loan is written down to net book value (in days) | day | 10 | ||||
Minimum [Member] | |||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | |||||
Write-Down of Loan to Net Book Value Loan Provision Threshold as Percentage of Loan Notional Amount | 90% | ||||
Corporate and institutional | |||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | |||||
Amortized cost of non-accrual assets | SFr 1,053 | 1,166 | 925 | 1,317 | |
Interest income recognized | 6 | 14 | |||
Amortized cost of non-accrual assets with no specific allowance | 62 | 76 | |||
Corporate and institutional | Real estate | |||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | |||||
Amortized cost of non-accrual assets | 143 | 293 | 167 | 324 | |
Interest income recognized | 0 | 6 | |||
Amortized cost of non-accrual assets with no specific allowance | 0 | 46 | |||
Corporate and institutional | Commercial and industrial loans | |||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | |||||
Amortized cost of non-accrual assets | 707 | 790 | 698 | 925 | |
Interest income recognized | 6 | 8 | |||
Amortized cost of non-accrual assets with no specific allowance | 57 | 30 | |||
Corporate and institutional | Financial institutions | |||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | |||||
Amortized cost of non-accrual assets | 192 | 63 | 41 | 68 | |
Interest income recognized | 0 | 0 | |||
Amortized cost of non-accrual assets with no specific allowance | 3 | 0 | |||
Corporate and institutional | Governments and public institutions | |||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | |||||
Amortized cost of non-accrual assets | 11 | 20 | 19 | 0 | |
Interest income recognized | 0 | 0 | |||
Amortized cost of non-accrual assets with no specific allowance | 2 | 0 | |||
Consumer | |||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | |||||
Amortized cost of non-accrual assets | 941 | 1,113 | 1,039 | 724 | |
Interest income recognized | 4 | 6 | |||
Amortized cost of non-accrual assets with no specific allowance | 77 | 168 | |||
Consumer | Mortgages | |||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | |||||
Amortized cost of non-accrual assets | 503 | 615 | 572 | 418 | |
Interest income recognized | 1 | 2 | |||
Amortized cost of non-accrual assets with no specific allowance | 74 | 167 | |||
Consumer | Loans collateralized by securities | |||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | |||||
Amortized cost of non-accrual assets | 238 | 298 | 262 | 105 | |
Interest income recognized | 2 | 3 | |||
Amortized cost of non-accrual assets with no specific allowance | 2 | 0 | |||
Consumer | Consumer finance | |||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | |||||
Amortized cost of non-accrual assets | 200 | 200 | 205 | 201 | |
Interest income recognized | 1 | 1 | |||
Amortized cost of non-accrual assets with no specific allowance | 1 | 1 | |||
Bank | |||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | |||||
Amortized cost of non-accrual assets | 1,983 | 2,267 | 1,952 | 2,029 | |
Interest income recognized | 10 | 20 | |||
Amortized cost of non-accrual assets with no specific allowance | 139 | 244 | |||
Bank | Corporate and institutional | |||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | |||||
Amortized cost of non-accrual assets | 1,042 | 1,154 | 913 | 1,305 | |
Interest income recognized | 6 | 14 | |||
Amortized cost of non-accrual assets with no specific allowance | 62 | 76 | |||
Bank | Corporate and institutional | Real estate | |||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | |||||
Amortized cost of non-accrual assets | 143 | 293 | 167 | 324 | |
Interest income recognized | 0 | 6 | |||
Amortized cost of non-accrual assets with no specific allowance | 0 | 46 | |||
Bank | Corporate and institutional | Commercial and industrial loans | |||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | |||||
Amortized cost of non-accrual assets | 696 | 778 | 686 | 913 | |
Interest income recognized | 6 | 8 | |||
Amortized cost of non-accrual assets with no specific allowance | 57 | 30 | |||
Bank | Corporate and institutional | Financial institutions | |||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | |||||
Amortized cost of non-accrual assets | 192 | 63 | 41 | 68 | |
Interest income recognized | 0 | 0 | |||
Amortized cost of non-accrual assets with no specific allowance | 3 | 0 | |||
Bank | Corporate and institutional | Governments and public institutions | |||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | |||||
Amortized cost of non-accrual assets | 11 | 20 | 19 | 0 | |
Interest income recognized | 0 | 0 | |||
Amortized cost of non-accrual assets with no specific allowance | 2 | 0 | |||
Bank | Consumer | |||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | |||||
Amortized cost of non-accrual assets | 941 | 1,113 | 1,039 | 724 | |
Interest income recognized | 4 | 6 | |||
Amortized cost of non-accrual assets with no specific allowance | 77 | 168 | |||
Bank | Consumer | Mortgages | |||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | |||||
Amortized cost of non-accrual assets | 503 | 615 | 572 | 418 | |
Interest income recognized | 1 | 2 | |||
Amortized cost of non-accrual assets with no specific allowance | 74 | 167 | |||
Bank | Consumer | Loans collateralized by securities | |||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | |||||
Amortized cost of non-accrual assets | 238 | 298 | 262 | 105 | |
Interest income recognized | 2 | 3 | |||
Amortized cost of non-accrual assets with no specific allowance | 2 | 0 | |||
Bank | Consumer | Consumer finance | |||||
Loans Held At Amortized Cost, Nonaccrual [Line Items] | |||||
Amortized cost of non-accrual assets | 200 | 200 | SFr 205 | SFr 201 | |
Interest income recognized | 1 | 1 | |||
Amortized cost of non-accrual assets with no specific allowance | SFr 1 | SFr 1 |
CECL (Details 7)
CECL (Details 7) - CHF (SFr) SFr in Millions | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | SFr 277,834 | SFr 282,740 | |
Total | 277,907 | SFr 279,548 | 282,821 |
Past due more than 90 days and still accruing | 0 | 0 | |
Financial Asset, Not Past Due [Member] | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 274,328 | 280,409 | |
Financial Asset, Past Due [Member] | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 3,579 | 2,412 | |
Past due up to 30 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 1,641 | 557 | |
Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 129 | 167 | |
Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 203 | 134 | |
Past due more than 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 1,606 | 1,554 | |
Corporate and institutional | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Total | 117,459 | 116,155 | |
Corporate and institutional | Financial Asset, Not Past Due [Member] | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 115,191 | 115,014 | |
Corporate and institutional | Financial Asset, Past Due [Member] | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 2,268 | 1,141 | |
Corporate and institutional | Past due up to 30 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 1,166 | 248 | |
Corporate and institutional | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 100 | 24 | |
Corporate and institutional | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 109 | 13 | |
Corporate and institutional | Past due more than 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 893 | 856 | |
Corporate and institutional | Real estate | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Total | 26,705 | 27,805 | |
Corporate and institutional | Real estate | Financial Asset, Not Past Due [Member] | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 26,414 | 27,628 | |
Corporate and institutional | Real estate | Financial Asset, Past Due [Member] | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 291 | 177 | |
Corporate and institutional | Real estate | Past due up to 30 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 64 | 6 | |
Corporate and institutional | Real estate | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 11 | 4 | |
Corporate and institutional | Real estate | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 0 | 0 | |
Corporate and institutional | Real estate | Past due more than 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 216 | 167 | |
Corporate and institutional | Commercial and industrial loans | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Total | 65,133 | 66,147 | |
Corporate and institutional | Commercial and industrial loans | Financial Asset, Not Past Due [Member] | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 63,783 | 65,327 | |
Corporate and institutional | Commercial and industrial loans | Financial Asset, Past Due [Member] | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 1,350 | 820 | |
Corporate and institutional | Commercial and industrial loans | Past due up to 30 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 584 | 166 | |
Corporate and institutional | Commercial and industrial loans | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 56 | 13 | |
Corporate and institutional | Commercial and industrial loans | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 99 | 12 | |
Corporate and institutional | Commercial and industrial loans | Past due more than 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 611 | 629 | |
Corporate and institutional | Financial institutions | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Total | 23,783 | 20,916 | |
Corporate and institutional | Financial institutions | Financial Asset, Not Past Due [Member] | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 23,237 | 20,807 | |
Corporate and institutional | Financial institutions | Financial Asset, Past Due [Member] | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 546 | 109 | |
Corporate and institutional | Financial institutions | Past due up to 30 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 448 | 60 | |
Corporate and institutional | Financial institutions | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 33 | 7 | |
Corporate and institutional | Financial institutions | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 10 | 1 | |
Corporate and institutional | Financial institutions | Past due more than 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 55 | 41 | |
Corporate and institutional | Governments and public institutions | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Total | 1,838 | 1,287 | |
Corporate and institutional | Governments and public institutions | Financial Asset, Not Past Due [Member] | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 1,757 | 1,252 | |
Corporate and institutional | Governments and public institutions | Financial Asset, Past Due [Member] | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 81 | 35 | |
Corporate and institutional | Governments and public institutions | Past due up to 30 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 70 | 16 | |
Corporate and institutional | Governments and public institutions | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 0 | 0 | |
Corporate and institutional | Governments and public institutions | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 0 | 0 | |
Corporate and institutional | Governments and public institutions | Past due more than 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 11 | 19 | |
Consumer | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Total | 160,448 | 166,666 | |
Consumer | Financial Asset, Not Past Due [Member] | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 159,137 | 165,395 | |
Consumer | Financial Asset, Past Due [Member] | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 1,311 | 1,271 | |
Consumer | Past due up to 30 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 475 | 309 | |
Consumer | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 29 | 143 | |
Consumer | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 94 | 121 | |
Consumer | Past due more than 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 713 | 698 | |
Consumer | Mortgages | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Total | 109,483 | 110,533 | |
Consumer | Mortgages | Financial Asset, Not Past Due [Member] | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 108,879 | 109,877 | |
Consumer | Mortgages | Financial Asset, Past Due [Member] | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 604 | 656 | |
Consumer | Mortgages | Past due up to 30 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 150 | 123 | |
Consumer | Mortgages | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 15 | 73 | |
Consumer | Mortgages | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 17 | 61 | |
Consumer | Mortgages | Past due more than 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 422 | 399 | |
Consumer | Loans collateralized by securities | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Total | 45,658 | 51,253 | |
Consumer | Loans collateralized by securities | Financial Asset, Not Past Due [Member] | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 45,488 | 51,069 | |
Consumer | Loans collateralized by securities | Financial Asset, Past Due [Member] | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 170 | 184 | |
Consumer | Loans collateralized by securities | Past due up to 30 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 5 | 42 | |
Consumer | Loans collateralized by securities | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 0 | 0 | |
Consumer | Loans collateralized by securities | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 24 | 0 | |
Consumer | Loans collateralized by securities | Past due more than 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 141 | 142 | |
Consumer | Consumer finance | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Total | 5,307 | 4,880 | |
Consumer | Consumer finance | Financial Asset, Not Past Due [Member] | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 4,770 | 4,449 | |
Consumer | Consumer finance | Financial Asset, Past Due [Member] | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 537 | 431 | |
Consumer | Consumer finance | Past due up to 30 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 320 | 144 | |
Consumer | Consumer finance | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 14 | 70 | |
Consumer | Consumer finance | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 53 | 60 | |
Consumer | Consumer finance | Past due more than 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 150 | 157 | |
Bank | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 286,265 | 291,411 | |
Total | 286,338 | 291,492 | |
Bank | Financial Asset, Not Past Due [Member] | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 282,770 | 289,092 | |
Bank | Financial Asset, Past Due [Member] | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 3,568 | 2,400 | |
Bank | Past due up to 30 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 1,641 | 557 | |
Bank | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 129 | 167 | |
Bank | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 203 | 134 | |
Bank | Past due more than 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 1,595 | 1,542 | |
Bank | Corporate and institutional | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Total | 117,448 | 116,143 | |
Bank | Corporate and institutional | Financial Asset, Not Past Due [Member] | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 115,191 | 115,014 | |
Bank | Corporate and institutional | Financial Asset, Past Due [Member] | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 2,257 | 1,129 | |
Bank | Corporate and institutional | Past due up to 30 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 1,166 | 248 | |
Bank | Corporate and institutional | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 100 | 24 | |
Bank | Corporate and institutional | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 109 | 13 | |
Bank | Corporate and institutional | Past due more than 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 882 | 844 | |
Bank | Corporate and institutional | Real estate | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Total | 26,705 | 27,805 | |
Bank | Corporate and institutional | Real estate | Financial Asset, Not Past Due [Member] | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 26,414 | 27,628 | |
Bank | Corporate and institutional | Real estate | Financial Asset, Past Due [Member] | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 291 | 177 | |
Bank | Corporate and institutional | Real estate | Past due up to 30 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 64 | 6 | |
Bank | Corporate and institutional | Real estate | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 11 | 4 | |
Bank | Corporate and institutional | Real estate | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 0 | 0 | |
Bank | Corporate and institutional | Real estate | Past due more than 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 216 | 167 | |
Bank | Corporate and institutional | Commercial and industrial loans | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Total | 65,122 | 66,135 | |
Bank | Corporate and institutional | Commercial and industrial loans | Financial Asset, Not Past Due [Member] | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 63,783 | 65,327 | |
Bank | Corporate and institutional | Commercial and industrial loans | Financial Asset, Past Due [Member] | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 1,339 | 808 | |
Bank | Corporate and institutional | Commercial and industrial loans | Past due up to 30 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 584 | 166 | |
Bank | Corporate and institutional | Commercial and industrial loans | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 56 | 13 | |
Bank | Corporate and institutional | Commercial and industrial loans | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 99 | 12 | |
Bank | Corporate and institutional | Commercial and industrial loans | Past due more than 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 600 | 617 | |
Bank | Corporate and institutional | Financial institutions | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Total | 23,783 | 20,916 | |
Bank | Corporate and institutional | Financial institutions | Financial Asset, Not Past Due [Member] | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 23,237 | 20,807 | |
Bank | Corporate and institutional | Financial institutions | Financial Asset, Past Due [Member] | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 546 | 109 | |
Bank | Corporate and institutional | Financial institutions | Past due up to 30 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 448 | 60 | |
Bank | Corporate and institutional | Financial institutions | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 33 | 7 | |
Bank | Corporate and institutional | Financial institutions | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 10 | 1 | |
Bank | Corporate and institutional | Financial institutions | Past due more than 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 55 | 41 | |
Bank | Corporate and institutional | Governments and public institutions | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Total | 1,838 | 1,287 | |
Bank | Corporate and institutional | Governments and public institutions | Financial Asset, Not Past Due [Member] | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 1,757 | 1,252 | |
Bank | Corporate and institutional | Governments and public institutions | Financial Asset, Past Due [Member] | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 81 | 35 | |
Bank | Corporate and institutional | Governments and public institutions | Past due up to 30 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 70 | 16 | |
Bank | Corporate and institutional | Governments and public institutions | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 0 | 0 | |
Bank | Corporate and institutional | Governments and public institutions | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 0 | 0 | |
Bank | Corporate and institutional | Governments and public institutions | Past due more than 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 11 | 19 | |
Bank | Consumer | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Total | 160,448 | 166,666 | |
Bank | Consumer | Financial Asset, Not Past Due [Member] | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 159,137 | 165,395 | |
Bank | Consumer | Financial Asset, Past Due [Member] | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 1,311 | 1,271 | |
Bank | Consumer | Past due up to 30 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 475 | 309 | |
Bank | Consumer | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 29 | 143 | |
Bank | Consumer | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 94 | 121 | |
Bank | Consumer | Past due more than 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 713 | 698 | |
Bank | Consumer | Mortgages | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Total | 109,483 | 110,533 | |
Bank | Consumer | Mortgages | Financial Asset, Not Past Due [Member] | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 108,879 | 109,877 | |
Bank | Consumer | Mortgages | Financial Asset, Past Due [Member] | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 604 | 656 | |
Bank | Consumer | Mortgages | Past due up to 30 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 150 | 123 | |
Bank | Consumer | Mortgages | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 15 | 73 | |
Bank | Consumer | Mortgages | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 17 | 61 | |
Bank | Consumer | Mortgages | Past due more than 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 422 | 399 | |
Bank | Consumer | Loans collateralized by securities | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Total | 45,658 | 51,253 | |
Bank | Consumer | Loans collateralized by securities | Financial Asset, Not Past Due [Member] | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 45,488 | 51,069 | |
Bank | Consumer | Loans collateralized by securities | Financial Asset, Past Due [Member] | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 170 | 184 | |
Bank | Consumer | Loans collateralized by securities | Past due up to 30 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 5 | 42 | |
Bank | Consumer | Loans collateralized by securities | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 0 | 0 | |
Bank | Consumer | Loans collateralized by securities | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 24 | 0 | |
Bank | Consumer | Loans collateralized by securities | Past due more than 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 141 | 142 | |
Bank | Consumer | Consumer finance | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Total | 5,307 | 4,880 | |
Bank | Consumer | Consumer finance | Financial Asset, Not Past Due [Member] | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 4,770 | 4,449 | |
Bank | Consumer | Consumer finance | Financial Asset, Past Due [Member] | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 537 | 431 | |
Bank | Consumer | Consumer finance | Past due up to 30 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 320 | 144 | |
Bank | Consumer | Consumer finance | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 14 | 70 | |
Bank | Consumer | Consumer finance | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 53 | 60 | |
Bank | Consumer | Consumer finance | Past due more than 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 150 | 157 | |
Bank | Total loans to third parties | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Total | 277,896 | 282,809 | |
Bank | Total loans to third parties | Financial Asset, Not Past Due [Member] | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 274,328 | 280,409 | |
Bank | Total loans to third parties | Financial Asset, Past Due [Member] | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 3,568 | 2,400 | |
Bank | Total loans to third parties | Past due up to 30 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 1,641 | 557 | |
Bank | Total loans to third parties | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 129 | 167 | |
Bank | Total loans to third parties | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 203 | 134 | |
Bank | Total loans to third parties | Past due more than 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 1,595 | 1,542 | |
Bank | Total loans to entities under common control | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Total | 8,442 | 8,683 | |
Bank | Total loans to entities under common control | Financial Asset, Not Past Due [Member] | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 8,442 | 8,683 | |
Bank | Total loans to entities under common control | Financial Asset, Past Due [Member] | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 0 | 0 | |
Bank | Total loans to entities under common control | Past due up to 30 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 0 | 0 | |
Bank | Total loans to entities under common control | Past due 31 - 60 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 0 | 0 | |
Bank | Total loans to entities under common control | Past due 61 - 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | 0 | 0 | |
Bank | Total loans to entities under common control | Past due more than 90 days | |||
Loans Held At Amortized Cost, Amortized cost, Past Due [Line Items] | |||
Gross loans held at amortized cost | SFr 0 | SFr 0 |
CECL (Details 9)
CECL (Details 9) - CHF (SFr) SFr in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Other financial assets held at amortized cost, past due | SFr 0 | SFr 0 |
Other financial assets held at amortized cost, total | 1,301 | 1,042 |
Bank | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Other financial assets held at amortized cost, total | SFr 1,301 | SFr 1,042 |
CECL (Details 10)
CECL (Details 10) - CHF (SFr) SFr in Millions | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | SFr 34,717 | SFr 75,886 | |
Origination in current year-1 | 57,172 | 33,920 | |
Origination in current year-2 | 28,752 | 23,356 | |
Origination in current year-3 | 20,401 | 14,069 | |
Origination in current year-4 | 12,547 | 8,677 | |
Origination in current year-5 or more | 52,907 | 49,714 | |
Total term loans | 206,496 | 205,622 | |
Revolving loans | 71,411 | 77,199 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 277,907 | SFr 279,548 | 282,821 |
Investment grade | AAA to BBB | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 21,088 | 53,305 | |
Origination in current year-1 | 43,560 | 25,119 | |
Origination in current year-2 | 21,698 | 16,367 | |
Origination in current year-3 | 14,602 | 9,913 | |
Origination in current year-4 | 9,271 | 6,681 | |
Origination in current year-5 or more | 45,391 | 42,787 | |
Total term loans | 155,610 | 154,172 | |
Revolving loans | 58,537 | 64,192 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 214,147 | 218,364 | |
Non-investment grade | BB to C | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 13,314 | 22,347 | |
Origination in current year-1 | 13,465 | 8,676 | |
Origination in current year-2 | 6,961 | 6,795 | |
Origination in current year-3 | 5,500 | 3,765 | |
Origination in current year-4 | 3,113 | 1,849 | |
Origination in current year-5 or more | 6,912 | 6,446 | |
Total term loans | 49,265 | 49,878 | |
Revolving loans | 11,934 | 12,254 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 61,199 | 62,132 | |
Non-investment grade | D | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 315 | 234 | |
Origination in current year-1 | 147 | 125 | |
Origination in current year-2 | 93 | 194 | |
Origination in current year-3 | 299 | 391 | |
Origination in current year-4 | 163 | 147 | |
Origination in current year-5 or more | 604 | 481 | |
Total term loans | 1,621 | 1,572 | |
Revolving loans | 940 | 753 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 2,561 | 2,325 | |
Corporate and institutional | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 23,681 | 43,627 | |
Origination in current year-1 | 28,849 | 15,424 | |
Origination in current year-2 | 11,691 | 9,595 | |
Origination in current year-3 | 7,592 | 5,433 | |
Origination in current year-4 | 4,603 | 2,404 | |
Origination in current year-5 or more | 10,217 | 8,631 | |
Total term loans | 86,633 | 85,114 | |
Revolving loans | 30,826 | 31,041 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 117,459 | 116,155 | |
Corporate and institutional | Investment grade | AAA to BBB | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 12,587 | 24,733 | |
Origination in current year-1 | 17,902 | 9,189 | |
Origination in current year-2 | 6,954 | 4,713 | |
Origination in current year-3 | 3,676 | 2,496 | |
Origination in current year-4 | 2,273 | 1,287 | |
Origination in current year-5 or more | 5,942 | 5,180 | |
Total term loans | 49,334 | 47,598 | |
Revolving loans | 21,990 | 22,293 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 71,324 | 69,891 | |
Corporate and institutional | Non-investment grade | BB to C | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 10,781 | 18,705 | |
Origination in current year-1 | 10,846 | 6,138 | |
Origination in current year-2 | 4,691 | 4,755 | |
Origination in current year-3 | 3,709 | 2,758 | |
Origination in current year-4 | 2,241 | 1,057 | |
Origination in current year-5 or more | 4,047 | 3,330 | |
Total term loans | 36,315 | 36,743 | |
Revolving loans | 8,222 | 8,240 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 44,537 | 44,983 | |
Corporate and institutional | Non-investment grade | D | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 313 | 189 | |
Origination in current year-1 | 101 | 97 | |
Origination in current year-2 | 46 | 127 | |
Origination in current year-3 | 207 | 179 | |
Origination in current year-4 | 89 | 60 | |
Origination in current year-5 or more | 228 | 121 | |
Total term loans | 984 | 773 | |
Revolving loans | 614 | 508 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 1,598 | 1,281 | |
Corporate and institutional | Real estate | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 3,930 | 14,252 | |
Origination in current year-1 | 11,485 | 5,069 | |
Origination in current year-2 | 4,411 | 2,557 | |
Origination in current year-3 | 1,839 | 1,266 | |
Origination in current year-4 | 1,163 | 576 | |
Origination in current year-5 or more | 2,890 | 2,875 | |
Total term loans | 25,718 | 26,595 | |
Revolving loans | 987 | 1,210 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 26,705 | 27,805 | |
Corporate and institutional | Real estate | Investment grade | AAA to BBB | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 2,328 | 9,568 | |
Origination in current year-1 | 8,356 | 3,709 | |
Origination in current year-2 | 3,476 | 1,849 | |
Origination in current year-3 | 1,227 | 925 | |
Origination in current year-4 | 878 | 475 | |
Origination in current year-5 or more | 2,506 | 2,469 | |
Total term loans | 18,771 | 18,995 | |
Revolving loans | 635 | 778 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 19,406 | 19,773 | |
Corporate and institutional | Real estate | Non-investment grade | BB to C | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 1,602 | 4,682 | |
Origination in current year-1 | 3,128 | 1,355 | |
Origination in current year-2 | 931 | 706 | |
Origination in current year-3 | 583 | 340 | |
Origination in current year-4 | 284 | 101 | |
Origination in current year-5 or more | 361 | 376 | |
Total term loans | 6,889 | 7,560 | |
Revolving loans | 223 | 297 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 7,112 | 7,857 | |
Corporate and institutional | Real estate | Non-investment grade | D | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 0 | 2 | |
Origination in current year-1 | 1 | 5 | |
Origination in current year-2 | 4 | 2 | |
Origination in current year-3 | 29 | 1 | |
Origination in current year-4 | 1 | 0 | |
Origination in current year-5 or more | 23 | 30 | |
Total term loans | 58 | 40 | |
Revolving loans | 129 | 135 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 187 | 175 | |
Corporate and institutional | Commercial and industrial loans | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 14,291 | 20,405 | |
Origination in current year-1 | 10,871 | 7,772 | |
Origination in current year-2 | 5,522 | 6,118 | |
Origination in current year-3 | 5,104 | 3,436 | |
Origination in current year-4 | 2,750 | 1,694 | |
Origination in current year-5 or more | 6,028 | 4,951 | |
Total term loans | 44,566 | 44,376 | |
Revolving loans | 20,567 | 21,771 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 65,133 | 66,147 | |
Corporate and institutional | Commercial and industrial loans | Investment grade | AAA to BBB | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 5,697 | 8,284 | |
Origination in current year-1 | 4,437 | 3,242 | |
Origination in current year-2 | 2,024 | 2,110 | |
Origination in current year-3 | 1,865 | 1,003 | |
Origination in current year-4 | 808 | 697 | |
Origination in current year-5 or more | 2,228 | 2,013 | |
Total term loans | 17,059 | 17,349 | |
Revolving loans | 12,877 | 13,941 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 29,936 | 31,290 | |
Corporate and institutional | Commercial and industrial loans | Non-investment grade | BB to C | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 8,373 | 11,985 | |
Origination in current year-1 | 6,334 | 4,468 | |
Origination in current year-2 | 3,456 | 3,903 | |
Origination in current year-3 | 3,073 | 2,256 | |
Origination in current year-4 | 1,855 | 937 | |
Origination in current year-5 or more | 3,595 | 2,848 | |
Total term loans | 26,686 | 26,397 | |
Revolving loans | 7,342 | 7,458 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 34,028 | 33,855 | |
Corporate and institutional | Commercial and industrial loans | Non-investment grade | D | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 221 | 136 | |
Origination in current year-1 | 100 | 62 | |
Origination in current year-2 | 42 | 105 | |
Origination in current year-3 | 166 | 177 | |
Origination in current year-4 | 87 | 60 | |
Origination in current year-5 or more | 205 | 90 | |
Total term loans | 821 | 630 | |
Revolving loans | 348 | 372 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 1,169 | 1,002 | |
Corporate and institutional | Financial institutions | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 5,388 | 8,423 | |
Origination in current year-1 | 5,484 | 2,312 | |
Origination in current year-2 | 1,470 | 788 | |
Origination in current year-3 | 535 | 674 | |
Origination in current year-4 | 635 | 106 | |
Origination in current year-5 or more | 1,072 | 585 | |
Total term loans | 14,584 | 12,888 | |
Revolving loans | 9,199 | 8,028 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 23,783 | 20,916 | |
Corporate and institutional | Financial institutions | Investment grade | AAA to BBB | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 4,507 | 6,360 | |
Origination in current year-1 | 4,131 | 2,081 | |
Origination in current year-2 | 1,294 | 660 | |
Origination in current year-3 | 482 | 522 | |
Origination in current year-4 | 532 | 87 | |
Origination in current year-5 or more | 1,001 | 499 | |
Total term loans | 11,947 | 10,209 | |
Revolving loans | 8,405 | 7,542 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 20,352 | 17,751 | |
Corporate and institutional | Financial institutions | Non-investment grade | BB to C | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 789 | 2,012 | |
Origination in current year-1 | 1,353 | 201 | |
Origination in current year-2 | 176 | 127 | |
Origination in current year-3 | 52 | 151 | |
Origination in current year-4 | 102 | 19 | |
Origination in current year-5 or more | 71 | 85 | |
Total term loans | 2,543 | 2,595 | |
Revolving loans | 657 | 485 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 3,200 | 3,080 | |
Corporate and institutional | Financial institutions | Non-investment grade | D | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 92 | 51 | |
Origination in current year-1 | 0 | 30 | |
Origination in current year-2 | 0 | 1 | |
Origination in current year-3 | 1 | 1 | |
Origination in current year-4 | 1 | 0 | |
Origination in current year-5 or more | 0 | 1 | |
Total term loans | 94 | 84 | |
Revolving loans | 137 | 1 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 231 | 85 | |
Corporate and institutional | Governments and public institutions | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 72 | 547 | |
Origination in current year-1 | 1,009 | 271 | |
Origination in current year-2 | 288 | 132 | |
Origination in current year-3 | 114 | 57 | |
Origination in current year-4 | 55 | 28 | |
Origination in current year-5 or more | 227 | 220 | |
Total term loans | 1,765 | 1,255 | |
Revolving loans | 73 | 32 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 1,838 | 1,287 | |
Corporate and institutional | Governments and public institutions | Investment grade | AAA to BBB | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 55 | 521 | |
Origination in current year-1 | 978 | 157 | |
Origination in current year-2 | 160 | 94 | |
Origination in current year-3 | 102 | 46 | |
Origination in current year-4 | 55 | 28 | |
Origination in current year-5 or more | 207 | 199 | |
Total term loans | 1,557 | 1,045 | |
Revolving loans | 73 | 32 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 1,630 | 1,077 | |
Corporate and institutional | Governments and public institutions | Non-investment grade | BB to C | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 17 | 26 | |
Origination in current year-1 | 31 | 114 | |
Origination in current year-2 | 128 | 19 | |
Origination in current year-3 | 1 | 11 | |
Origination in current year-4 | 0 | 0 | |
Origination in current year-5 or more | 20 | 21 | |
Total term loans | 197 | 191 | |
Revolving loans | 0 | 0 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 197 | 191 | |
Corporate and institutional | Governments and public institutions | Non-investment grade | D | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 0 | 0 | |
Origination in current year-1 | 0 | 0 | |
Origination in current year-2 | 0 | 19 | |
Origination in current year-3 | 11 | 0 | |
Origination in current year-4 | 0 | 0 | |
Origination in current year-5 or more | 0 | 0 | |
Total term loans | 11 | 19 | |
Revolving loans | 0 | 0 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 11 | 19 | |
Consumer | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 11,036 | 32,259 | |
Origination in current year-1 | 28,323 | 18,496 | |
Origination in current year-2 | 17,061 | 13,761 | |
Origination in current year-3 | 12,809 | 8,636 | |
Origination in current year-4 | 7,944 | 6,273 | |
Origination in current year-5 or more | 42,690 | 41,083 | |
Total term loans | 119,863 | 120,508 | |
Revolving loans | 40,585 | 46,158 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 160,448 | 166,666 | |
Consumer | Investment grade | AAA to BBB | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 8,501 | 28,572 | |
Origination in current year-1 | 25,658 | 15,930 | |
Origination in current year-2 | 14,744 | 11,654 | |
Origination in current year-3 | 10,926 | 7,417 | |
Origination in current year-4 | 6,998 | 5,394 | |
Origination in current year-5 or more | 39,449 | 37,607 | |
Total term loans | 106,276 | 106,574 | |
Revolving loans | 36,547 | 41,899 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 142,823 | 148,473 | |
Consumer | Non-investment grade | BB to C | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 2,533 | 3,642 | |
Origination in current year-1 | 2,619 | 2,538 | |
Origination in current year-2 | 2,270 | 2,040 | |
Origination in current year-3 | 1,791 | 1,007 | |
Origination in current year-4 | 872 | 792 | |
Origination in current year-5 or more | 2,865 | 3,116 | |
Total term loans | 12,950 | 13,135 | |
Revolving loans | 3,712 | 4,014 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 16,662 | 17,149 | |
Consumer | Non-investment grade | D | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 2 | 45 | |
Origination in current year-1 | 46 | 28 | |
Origination in current year-2 | 47 | 67 | |
Origination in current year-3 | 92 | 212 | |
Origination in current year-4 | 74 | 87 | |
Origination in current year-5 or more | 376 | 360 | |
Total term loans | 637 | 799 | |
Revolving loans | 326 | 245 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 963 | 1,044 | |
Consumer | Mortgages | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 7,286 | 26,431 | |
Origination in current year-1 | 24,734 | 16,158 | |
Origination in current year-2 | 15,147 | 12,995 | |
Origination in current year-3 | 12,178 | 8,187 | |
Origination in current year-4 | 7,708 | 6,090 | |
Origination in current year-5 or more | 41,240 | 39,466 | |
Total term loans | 108,293 | 109,327 | |
Revolving loans | 1,190 | 1,206 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 109,483 | 110,533 | |
Consumer | Mortgages | Investment grade | AAA to BBB | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 6,131 | 24,257 | |
Origination in current year-1 | 22,988 | 14,743 | |
Origination in current year-2 | 13,880 | 11,308 | |
Origination in current year-3 | 10,677 | 7,287 | |
Origination in current year-4 | 6,929 | 5,318 | |
Origination in current year-5 or more | 38,422 | 36,790 | |
Total term loans | 99,027 | 99,703 | |
Revolving loans | 317 | 276 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 99,344 | 99,979 | |
Consumer | Mortgages | Non-investment grade | BB to C | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 1,154 | 2,134 | |
Origination in current year-1 | 1,711 | 1,402 | |
Origination in current year-2 | 1,235 | 1,639 | |
Origination in current year-3 | 1,427 | 812 | |
Origination in current year-4 | 721 | 698 | |
Origination in current year-5 or more | 2,491 | 2,359 | |
Total term loans | 8,739 | 9,044 | |
Revolving loans | 873 | 930 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 9,612 | 9,974 | |
Consumer | Mortgages | Non-investment grade | D | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 1 | 40 | |
Origination in current year-1 | 35 | 13 | |
Origination in current year-2 | 32 | 48 | |
Origination in current year-3 | 74 | 88 | |
Origination in current year-4 | 58 | 74 | |
Origination in current year-5 or more | 327 | 317 | |
Total term loans | 527 | 580 | |
Revolving loans | 0 | 0 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 527 | 580 | |
Consumer | Loans collateralized by securities | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 1,765 | 3,312 | |
Origination in current year-1 | 2,191 | 1,497 | |
Origination in current year-2 | 1,256 | 228 | |
Origination in current year-3 | 218 | 164 | |
Origination in current year-4 | 43 | 74 | |
Origination in current year-5 or more | 1,265 | 1,485 | |
Total term loans | 6,738 | 6,760 | |
Revolving loans | 38,920 | 44,493 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 45,658 | 51,253 | |
Consumer | Loans collateralized by securities | Investment grade | AAA to BBB | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 1,057 | 2,627 | |
Origination in current year-1 | 1,800 | 649 | |
Origination in current year-2 | 467 | 61 | |
Origination in current year-3 | 70 | 32 | |
Origination in current year-4 | 18 | 55 | |
Origination in current year-5 or more | 1,007 | 804 | |
Total term loans | 4,419 | 4,228 | |
Revolving loans | 35,899 | 41,275 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 40,318 | 45,503 | |
Consumer | Loans collateralized by securities | Non-investment grade | BB to C | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 708 | 685 | |
Origination in current year-1 | 391 | 848 | |
Origination in current year-2 | 789 | 167 | |
Origination in current year-3 | 148 | 26 | |
Origination in current year-4 | 25 | 19 | |
Origination in current year-5 or more | 258 | 681 | |
Total term loans | 2,319 | 2,426 | |
Revolving loans | 2,783 | 3,063 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 5,102 | 5,489 | |
Consumer | Loans collateralized by securities | Non-investment grade | D | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 0 | 0 | |
Origination in current year-1 | 0 | 0 | |
Origination in current year-2 | 0 | 0 | |
Origination in current year-3 | 0 | 106 | |
Origination in current year-4 | 0 | 0 | |
Origination in current year-5 or more | 0 | 0 | |
Total term loans | 0 | 106 | |
Revolving loans | 238 | 155 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 238 | 261 | |
Consumer | Consumer finance | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 1,985 | 2,516 | |
Origination in current year-1 | 1,398 | 841 | |
Origination in current year-2 | 658 | 538 | |
Origination in current year-3 | 413 | 285 | |
Origination in current year-4 | 193 | 109 | |
Origination in current year-5 or more | 185 | 132 | |
Total term loans | 4,832 | 4,421 | |
Revolving loans | 475 | 459 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 5,307 | 4,880 | |
Consumer | Consumer finance | Investment grade | AAA to BBB | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 1,313 | 1,688 | |
Origination in current year-1 | 870 | 538 | |
Origination in current year-2 | 397 | 285 | |
Origination in current year-3 | 179 | 98 | |
Origination in current year-4 | 51 | 21 | |
Origination in current year-5 or more | 20 | 13 | |
Total term loans | 2,830 | 2,643 | |
Revolving loans | 331 | 348 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 3,161 | 2,991 | |
Consumer | Consumer finance | Non-investment grade | BB to C | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 671 | 823 | |
Origination in current year-1 | 517 | 288 | |
Origination in current year-2 | 246 | 234 | |
Origination in current year-3 | 216 | 169 | |
Origination in current year-4 | 126 | 75 | |
Origination in current year-5 or more | 116 | 76 | |
Total term loans | 1,892 | 1,665 | |
Revolving loans | 56 | 21 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 1,948 | 1,686 | |
Consumer | Consumer finance | Non-investment grade | D | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 1 | 5 | |
Origination in current year-1 | 11 | 15 | |
Origination in current year-2 | 15 | 19 | |
Origination in current year-3 | 18 | 18 | |
Origination in current year-4 | 16 | 13 | |
Origination in current year-5 or more | 49 | 43 | |
Total term loans | 110 | 113 | |
Revolving loans | 88 | 90 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 198 | 203 | |
Bank | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 34,717 | 75,886 | |
Origination in current year-1 | 57,172 | 33,920 | |
Origination in current year-2 | 28,752 | 23,356 | |
Origination in current year-3 | 20,401 | 14,069 | |
Origination in current year-4 | 12,547 | 8,677 | |
Origination in current year-5 or more | 52,896 | 49,702 | |
Total term loans | 206,485 | 205,610 | |
Revolving loans | 71,411 | 77,199 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 286,338 | 291,492 | |
Bank | Investment grade | AAA to BBB | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 21,088 | 53,305 | |
Origination in current year-1 | 43,560 | 25,119 | |
Origination in current year-2 | 21,698 | 16,367 | |
Origination in current year-3 | 14,602 | 9,913 | |
Origination in current year-4 | 9,271 | 6,681 | |
Origination in current year-5 or more | 45,391 | 42,787 | |
Total term loans | 155,610 | 154,172 | |
Revolving loans | 58,537 | 64,192 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 222,572 | 227,047 | |
Bank | Non-investment grade | BB to C | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 13,314 | 22,347 | |
Origination in current year-1 | 13,465 | 8,676 | |
Origination in current year-2 | 6,961 | 6,795 | |
Origination in current year-3 | 5,500 | 3,765 | |
Origination in current year-4 | 3,113 | 1,849 | |
Origination in current year-5 or more | 6,912 | 6,446 | |
Total term loans | 49,265 | 49,878 | |
Revolving loans | 11,934 | 12,254 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 61,216 | 62,132 | |
Bank | Non-investment grade | D | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 315 | 234 | |
Origination in current year-1 | 147 | 125 | |
Origination in current year-2 | 93 | 194 | |
Origination in current year-3 | 299 | 391 | |
Origination in current year-4 | 163 | 147 | |
Origination in current year-5 or more | 593 | 469 | |
Total term loans | 1,610 | 1,560 | |
Revolving loans | 940 | 753 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 2,550 | 2,313 | |
Bank | Corporate and institutional | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 23,681 | 43,627 | |
Origination in current year-1 | 28,849 | 15,424 | |
Origination in current year-2 | 11,691 | 9,595 | |
Origination in current year-3 | 7,592 | 5,433 | |
Origination in current year-4 | 4,603 | 2,404 | |
Origination in current year-5 or more | 10,206 | 8,619 | |
Total term loans | 86,622 | 85,102 | |
Revolving loans | 30,826 | 31,041 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 117,448 | 116,143 | |
Bank | Corporate and institutional | Investment grade | AAA to BBB | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 12,587 | 24,733 | |
Origination in current year-1 | 17,902 | 9,189 | |
Origination in current year-2 | 6,954 | 4,713 | |
Origination in current year-3 | 3,676 | 2,496 | |
Origination in current year-4 | 2,273 | 1,287 | |
Origination in current year-5 or more | 5,942 | 5,180 | |
Total term loans | 49,334 | 47,598 | |
Revolving loans | 21,990 | 22,293 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 71,324 | 69,891 | |
Bank | Corporate and institutional | Non-investment grade | BB to C | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 10,781 | 18,705 | |
Origination in current year-1 | 10,846 | 6,138 | |
Origination in current year-2 | 4,691 | 4,755 | |
Origination in current year-3 | 3,709 | 2,758 | |
Origination in current year-4 | 2,241 | 1,057 | |
Origination in current year-5 or more | 4,047 | 3,330 | |
Total term loans | 36,315 | 36,743 | |
Revolving loans | 8,222 | 8,240 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 44,537 | 44,983 | |
Bank | Corporate and institutional | Non-investment grade | D | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 313 | 189 | |
Origination in current year-1 | 101 | 97 | |
Origination in current year-2 | 46 | 127 | |
Origination in current year-3 | 207 | 179 | |
Origination in current year-4 | 89 | 60 | |
Origination in current year-5 or more | 217 | 109 | |
Total term loans | 973 | 761 | |
Revolving loans | 614 | 508 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 1,587 | 1,269 | |
Bank | Corporate and institutional | Real estate | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 3,930 | 14,252 | |
Origination in current year-1 | 11,485 | 5,069 | |
Origination in current year-2 | 4,411 | 2,557 | |
Origination in current year-3 | 1,839 | 1,266 | |
Origination in current year-4 | 1,163 | 576 | |
Origination in current year-5 or more | 2,890 | 2,875 | |
Total term loans | 25,718 | 26,595 | |
Revolving loans | 987 | 1,210 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 26,705 | 27,805 | |
Bank | Corporate and institutional | Real estate | Investment grade | AAA to BBB | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 2,328 | 9,568 | |
Origination in current year-1 | 8,356 | 3,709 | |
Origination in current year-2 | 3,476 | 1,849 | |
Origination in current year-3 | 1,227 | 925 | |
Origination in current year-4 | 878 | 475 | |
Origination in current year-5 or more | 2,506 | 2,469 | |
Total term loans | 18,771 | 18,995 | |
Revolving loans | 635 | 778 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 19,406 | 19,773 | |
Bank | Corporate and institutional | Real estate | Non-investment grade | BB to C | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 1,602 | 4,682 | |
Origination in current year-1 | 3,128 | 1,355 | |
Origination in current year-2 | 931 | 706 | |
Origination in current year-3 | 583 | 340 | |
Origination in current year-4 | 284 | 101 | |
Origination in current year-5 or more | 361 | 376 | |
Total term loans | 6,889 | 7,560 | |
Revolving loans | 223 | 297 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 7,112 | 7,857 | |
Bank | Corporate and institutional | Real estate | Non-investment grade | D | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 0 | 2 | |
Origination in current year-1 | 1 | 5 | |
Origination in current year-2 | 4 | 2 | |
Origination in current year-3 | 29 | 1 | |
Origination in current year-4 | 1 | 0 | |
Origination in current year-5 or more | 23 | 30 | |
Total term loans | 58 | 40 | |
Revolving loans | 129 | 135 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 187 | 175 | |
Bank | Corporate and institutional | Commercial and industrial loans | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 14,291 | 20,405 | |
Origination in current year-1 | 10,871 | 7,772 | |
Origination in current year-2 | 5,522 | 6,118 | |
Origination in current year-3 | 5,104 | 3,436 | |
Origination in current year-4 | 2,750 | 1,694 | |
Origination in current year-5 or more | 6,017 | 4,939 | |
Total term loans | 44,555 | 44,364 | |
Revolving loans | 20,567 | 21,771 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 65,122 | 66,135 | |
Bank | Corporate and institutional | Commercial and industrial loans | Investment grade | AAA to BBB | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 5,697 | 8,284 | |
Origination in current year-1 | 4,437 | 3,242 | |
Origination in current year-2 | 2,024 | 2,110 | |
Origination in current year-3 | 1,865 | 1,003 | |
Origination in current year-4 | 808 | 697 | |
Origination in current year-5 or more | 2,228 | 2,013 | |
Total term loans | 17,059 | 17,349 | |
Revolving loans | 12,877 | 13,941 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 29,936 | 31,290 | |
Bank | Corporate and institutional | Commercial and industrial loans | Non-investment grade | BB to C | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 8,373 | 11,985 | |
Origination in current year-1 | 6,334 | 4,468 | |
Origination in current year-2 | 3,456 | 3,903 | |
Origination in current year-3 | 3,073 | 2,256 | |
Origination in current year-4 | 1,855 | 937 | |
Origination in current year-5 or more | 3,595 | 2,848 | |
Total term loans | 26,686 | 26,397 | |
Revolving loans | 7,342 | 7,458 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 34,028 | 33,855 | |
Bank | Corporate and institutional | Commercial and industrial loans | Non-investment grade | D | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 221 | 136 | |
Origination in current year-1 | 100 | 62 | |
Origination in current year-2 | 42 | 105 | |
Origination in current year-3 | 166 | 177 | |
Origination in current year-4 | 87 | 60 | |
Origination in current year-5 or more | 194 | 78 | |
Total term loans | 810 | 618 | |
Revolving loans | 348 | 372 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 1,158 | 990 | |
Bank | Corporate and institutional | Financial institutions | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 5,388 | 8,423 | |
Origination in current year-1 | 5,484 | 2,312 | |
Origination in current year-2 | 1,470 | 788 | |
Origination in current year-3 | 535 | 674 | |
Origination in current year-4 | 635 | 106 | |
Origination in current year-5 or more | 1,072 | 585 | |
Total term loans | 14,584 | 12,888 | |
Revolving loans | 9,199 | 8,028 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 23,783 | 20,916 | |
Bank | Corporate and institutional | Financial institutions | Investment grade | AAA to BBB | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 4,507 | 6,360 | |
Origination in current year-1 | 4,131 | 2,081 | |
Origination in current year-2 | 1,294 | 660 | |
Origination in current year-3 | 482 | 522 | |
Origination in current year-4 | 532 | 87 | |
Origination in current year-5 or more | 1,001 | 499 | |
Total term loans | 11,947 | 10,209 | |
Revolving loans | 8,405 | 7,542 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 20,352 | 17,751 | |
Bank | Corporate and institutional | Financial institutions | Non-investment grade | BB to C | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 789 | 2,012 | |
Origination in current year-1 | 1,353 | 201 | |
Origination in current year-2 | 176 | 127 | |
Origination in current year-3 | 52 | 151 | |
Origination in current year-4 | 102 | 19 | |
Origination in current year-5 or more | 71 | 85 | |
Total term loans | 2,543 | 2,595 | |
Revolving loans | 657 | 485 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 3,200 | 3,080 | |
Bank | Corporate and institutional | Financial institutions | Non-investment grade | D | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 92 | 51 | |
Origination in current year-1 | 0 | 30 | |
Origination in current year-2 | 0 | 1 | |
Origination in current year-3 | 1 | 1 | |
Origination in current year-4 | 1 | 0 | |
Origination in current year-5 or more | 0 | 1 | |
Total term loans | 94 | 84 | |
Revolving loans | 137 | 1 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 231 | 85 | |
Bank | Corporate and institutional | Governments and public institutions | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 72 | 547 | |
Origination in current year-1 | 1,009 | 271 | |
Origination in current year-2 | 288 | 132 | |
Origination in current year-3 | 114 | 57 | |
Origination in current year-4 | 55 | 28 | |
Origination in current year-5 or more | 227 | 220 | |
Total term loans | 1,765 | 1,255 | |
Revolving loans | 73 | 32 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 1,838 | 1,287 | |
Bank | Corporate and institutional | Governments and public institutions | Investment grade | AAA to BBB | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 55 | 521 | |
Origination in current year-1 | 978 | 157 | |
Origination in current year-2 | 160 | 94 | |
Origination in current year-3 | 102 | 46 | |
Origination in current year-4 | 55 | 28 | |
Origination in current year-5 or more | 207 | 199 | |
Total term loans | 1,557 | 1,045 | |
Revolving loans | 73 | 32 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 1,630 | 1,077 | |
Bank | Corporate and institutional | Governments and public institutions | Non-investment grade | BB to C | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 17 | 26 | |
Origination in current year-1 | 31 | 114 | |
Origination in current year-2 | 128 | 19 | |
Origination in current year-3 | 1 | 11 | |
Origination in current year-4 | 0 | 0 | |
Origination in current year-5 or more | 20 | 21 | |
Total term loans | 197 | 191 | |
Revolving loans | 0 | 0 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 197 | 191 | |
Bank | Corporate and institutional | Governments and public institutions | Non-investment grade | D | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 0 | 0 | |
Origination in current year-1 | 0 | 0 | |
Origination in current year-2 | 0 | 19 | |
Origination in current year-3 | 11 | 0 | |
Origination in current year-4 | 0 | 0 | |
Origination in current year-5 or more | 0 | 0 | |
Total term loans | 11 | 19 | |
Revolving loans | 0 | 0 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 11 | 19 | |
Bank | Consumer | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 11,036 | 32,259 | |
Origination in current year-1 | 28,323 | 18,496 | |
Origination in current year-2 | 17,061 | 13,761 | |
Origination in current year-3 | 12,809 | 8,636 | |
Origination in current year-4 | 7,944 | 6,273 | |
Origination in current year-5 or more | 42,690 | 41,083 | |
Total term loans | 119,863 | 120,508 | |
Revolving loans | 40,585 | 46,158 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 160,448 | 166,666 | |
Bank | Consumer | Investment grade | AAA to BBB | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 8,501 | 28,572 | |
Origination in current year-1 | 25,658 | 15,930 | |
Origination in current year-2 | 14,744 | 11,654 | |
Origination in current year-3 | 10,926 | 7,417 | |
Origination in current year-4 | 6,998 | 5,394 | |
Origination in current year-5 or more | 39,449 | 37,607 | |
Total term loans | 106,276 | 106,574 | |
Revolving loans | 36,547 | 41,899 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 142,823 | 148,473 | |
Bank | Consumer | Non-investment grade | BB to C | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 2,533 | 3,642 | |
Origination in current year-1 | 2,619 | 2,538 | |
Origination in current year-2 | 2,270 | 2,040 | |
Origination in current year-3 | 1,791 | 1,007 | |
Origination in current year-4 | 872 | 792 | |
Origination in current year-5 or more | 2,865 | 3,116 | |
Total term loans | 12,950 | 13,135 | |
Revolving loans | 3,712 | 4,014 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 16,662 | 17,149 | |
Bank | Consumer | Non-investment grade | D | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 2 | 45 | |
Origination in current year-1 | 46 | 28 | |
Origination in current year-2 | 47 | 67 | |
Origination in current year-3 | 92 | 212 | |
Origination in current year-4 | 74 | 87 | |
Origination in current year-5 or more | 376 | 360 | |
Total term loans | 637 | 799 | |
Revolving loans | 326 | 245 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 963 | 1,044 | |
Bank | Consumer | Mortgages | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 7,286 | 26,431 | |
Origination in current year-1 | 24,734 | 16,158 | |
Origination in current year-2 | 15,147 | 12,995 | |
Origination in current year-3 | 12,178 | 8,187 | |
Origination in current year-4 | 7,708 | 6,090 | |
Origination in current year-5 or more | 41,240 | 39,466 | |
Total term loans | 108,293 | 109,327 | |
Revolving loans | 1,190 | 1,206 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 109,483 | 110,533 | |
Bank | Consumer | Mortgages | Investment grade | AAA to BBB | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 6,131 | 24,257 | |
Origination in current year-1 | 22,988 | 14,743 | |
Origination in current year-2 | 13,880 | 11,308 | |
Origination in current year-3 | 10,677 | 7,287 | |
Origination in current year-4 | 6,929 | 5,318 | |
Origination in current year-5 or more | 38,422 | 36,790 | |
Total term loans | 99,027 | 99,703 | |
Revolving loans | 317 | 276 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 99,344 | 99,979 | |
Bank | Consumer | Mortgages | Non-investment grade | BB to C | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 1,154 | 2,134 | |
Origination in current year-1 | 1,711 | 1,402 | |
Origination in current year-2 | 1,235 | 1,639 | |
Origination in current year-3 | 1,427 | 812 | |
Origination in current year-4 | 721 | 698 | |
Origination in current year-5 or more | 2,491 | 2,359 | |
Total term loans | 8,739 | 9,044 | |
Revolving loans | 873 | 930 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 9,612 | 9,974 | |
Bank | Consumer | Mortgages | Non-investment grade | D | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 1 | 40 | |
Origination in current year-1 | 35 | 13 | |
Origination in current year-2 | 32 | 48 | |
Origination in current year-3 | 74 | 88 | |
Origination in current year-4 | 58 | 74 | |
Origination in current year-5 or more | 327 | 317 | |
Total term loans | 527 | 580 | |
Revolving loans | 0 | 0 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 527 | 580 | |
Bank | Consumer | Loans collateralized by securities | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 1,765 | 3,312 | |
Origination in current year-1 | 2,191 | 1,497 | |
Origination in current year-2 | 1,256 | 228 | |
Origination in current year-3 | 218 | 164 | |
Origination in current year-4 | 43 | 74 | |
Origination in current year-5 or more | 1,265 | 1,485 | |
Total term loans | 6,738 | 6,760 | |
Revolving loans | 38,920 | 44,493 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 45,658 | 51,253 | |
Bank | Consumer | Loans collateralized by securities | Investment grade | AAA to BBB | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 1,057 | 2,627 | |
Origination in current year-1 | 1,800 | 649 | |
Origination in current year-2 | 467 | 61 | |
Origination in current year-3 | 70 | 32 | |
Origination in current year-4 | 18 | 55 | |
Origination in current year-5 or more | 1,007 | 804 | |
Total term loans | 4,419 | 4,228 | |
Revolving loans | 35,899 | 41,275 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 40,318 | 45,503 | |
Bank | Consumer | Loans collateralized by securities | Non-investment grade | BB to C | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 708 | 685 | |
Origination in current year-1 | 391 | 848 | |
Origination in current year-2 | 789 | 167 | |
Origination in current year-3 | 148 | 26 | |
Origination in current year-4 | 25 | 19 | |
Origination in current year-5 or more | 258 | 681 | |
Total term loans | 2,319 | 2,426 | |
Revolving loans | 2,783 | 3,063 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 5,102 | 5,489 | |
Bank | Consumer | Loans collateralized by securities | Non-investment grade | D | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 0 | 0 | |
Origination in current year-1 | 0 | 0 | |
Origination in current year-2 | 0 | 0 | |
Origination in current year-3 | 0 | 106 | |
Origination in current year-4 | 0 | 0 | |
Origination in current year-5 or more | 0 | 0 | |
Total term loans | 0 | 106 | |
Revolving loans | 238 | 155 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 238 | 261 | |
Bank | Consumer | Consumer finance | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 1,985 | 2,516 | |
Origination in current year-1 | 1,398 | 841 | |
Origination in current year-2 | 658 | 538 | |
Origination in current year-3 | 413 | 285 | |
Origination in current year-4 | 193 | 109 | |
Origination in current year-5 or more | 185 | 132 | |
Total term loans | 4,832 | 4,421 | |
Revolving loans | 475 | 459 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 5,307 | 4,880 | |
Bank | Consumer | Consumer finance | Investment grade | AAA to BBB | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 1,313 | 1,688 | |
Origination in current year-1 | 870 | 538 | |
Origination in current year-2 | 397 | 285 | |
Origination in current year-3 | 179 | 98 | |
Origination in current year-4 | 51 | 21 | |
Origination in current year-5 or more | 20 | 13 | |
Total term loans | 2,830 | 2,643 | |
Revolving loans | 331 | 348 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 3,161 | 2,991 | |
Bank | Consumer | Consumer finance | Non-investment grade | BB to C | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 671 | 823 | |
Origination in current year-1 | 517 | 288 | |
Origination in current year-2 | 246 | 234 | |
Origination in current year-3 | 216 | 169 | |
Origination in current year-4 | 126 | 75 | |
Origination in current year-5 or more | 116 | 76 | |
Total term loans | 1,892 | 1,665 | |
Revolving loans | 56 | 21 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 1,948 | 1,686 | |
Bank | Consumer | Consumer finance | Non-investment grade | D | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Origination in current year | 1 | 5 | |
Origination in current year-1 | 11 | 15 | |
Origination in current year-2 | 15 | 19 | |
Origination in current year-3 | 18 | 18 | |
Origination in current year-4 | 16 | 13 | |
Origination in current year-5 or more | 49 | 43 | |
Total term loans | 110 | 113 | |
Revolving loans | 88 | 90 | |
Financing Receivable, before Allowance for Credit Loss and Fee | 198 | 203 | |
Bank | Total loans to third parties | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 277,896 | 282,809 | |
Bank | Total loans to third parties | Investment grade | AAA to BBB | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 214,147 | 218,364 | |
Bank | Total loans to third parties | Non-investment grade | BB to C | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 61,199 | 62,132 | |
Bank | Total loans to third parties | Non-investment grade | D | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 2,550 | 2,313 | |
Bank | Total loans to entities under common control | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 8,442 | 8,683 | |
Bank | Total loans to entities under common control | Investment grade | AAA to BBB | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 8,425 | 8,683 | |
Bank | Total loans to entities under common control | Non-investment grade | BB to C | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Financing Receivable, before Allowance for Credit Loss and Fee | 17 | 0 | |
Bank | Total loans to entities under common control | Non-investment grade | D | |||
Loans Held At Amortized Cost, Amortized Cost [Line Items] | |||
Financing Receivable, before Allowance for Credit Loss and Fee | SFr 0 | SFr 0 |
CECL (Details 12)
CECL (Details 12) - CHF (SFr) SFr in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Financing Receivable, Recorded Investment [Line Items] | ||
Origination in current year | SFr 0 | SFr 5 |
Origination in current year-1 | 3 | 0 |
Origination in current year-2 | 0 | 0 |
Origination in current year-3 | 0 | 63 |
Origination in current year-4 | 59 | 2 |
Origination 5 years or more | 3 | 2 |
Total term positions | 65 | 72 |
Revolving positions | 1,236 | 970 |
Other financial assets held at amortized cost, total | 1,301 | 1,042 |
Investment grade | AAA to BBB | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Origination in current year | 0 | 0 |
Origination in current year-1 | 0 | 0 |
Origination in current year-2 | 0 | 0 |
Origination in current year-3 | 0 | 0 |
Origination in current year-4 | 0 | 0 |
Origination 5 years or more | 0 | 0 |
Total term positions | 0 | 0 |
Revolving positions | 0 | 0 |
Other financial assets held at amortized cost, total | 0 | 0 |
Non-investment grade | BB to C | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Origination in current year | 0 | 5 |
Origination in current year-1 | 3 | 0 |
Origination in current year-2 | 0 | 0 |
Origination in current year-3 | 0 | 63 |
Origination in current year-4 | 59 | 2 |
Origination 5 years or more | 3 | 2 |
Total term positions | 65 | 72 |
Revolving positions | 1,236 | 970 |
Other financial assets held at amortized cost, total | 1,301 | 1,042 |
Non-investment grade | D | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Origination in current year | 0 | 0 |
Origination in current year-1 | 0 | 0 |
Origination in current year-2 | 0 | 0 |
Origination in current year-3 | 0 | 0 |
Origination in current year-4 | 0 | 0 |
Origination 5 years or more | 0 | 0 |
Total term positions | 0 | 0 |
Revolving positions | 0 | 0 |
Other financial assets held at amortized cost, total | 0 | 0 |
Bank | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Origination in current year | 0 | 5 |
Origination in current year-1 | 3 | 0 |
Origination in current year-2 | 0 | 0 |
Origination in current year-3 | 0 | 63 |
Origination in current year-4 | 59 | 2 |
Origination 5 years or more | 3 | 2 |
Total term positions | 65 | 72 |
Revolving positions | 1,236 | 970 |
Other financial assets held at amortized cost, total | 1,301 | 1,042 |
Bank | Investment grade | AAA to BBB | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Origination in current year | 0 | 0 |
Origination in current year-1 | 0 | 0 |
Origination in current year-2 | 0 | 0 |
Origination in current year-3 | 0 | 0 |
Origination in current year-4 | 0 | 0 |
Origination 5 years or more | 0 | 0 |
Total term positions | 0 | 0 |
Revolving positions | 0 | 0 |
Other financial assets held at amortized cost, total | 0 | 0 |
Bank | Non-investment grade | BB to C | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Origination in current year | 0 | 5 |
Origination in current year-1 | 3 | 0 |
Origination in current year-2 | 0 | 0 |
Origination in current year-3 | 0 | 63 |
Origination in current year-4 | 59 | 2 |
Origination 5 years or more | 3 | 2 |
Total term positions | 65 | 72 |
Revolving positions | 1,236 | 970 |
Other financial assets held at amortized cost, total | 1,301 | 1,042 |
Bank | Non-investment grade | D | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Origination in current year | 0 | 0 |
Origination in current year-1 | 0 | 0 |
Origination in current year-2 | 0 | 0 |
Origination in current year-3 | 0 | 0 |
Origination in current year-4 | 0 | 0 |
Origination 5 years or more | 0 | 0 |
Total term positions | 0 | 0 |
Revolving positions | 0 | 0 |
Other financial assets held at amortized cost, total | SFr 0 | SFr 0 |
CECL (Details 14)
CECL (Details 14) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 CHF (SFr) contract | Mar. 31, 2022 CHF (SFr) contract | Jun. 30, 2021 CHF (SFr) contract | Jun. 30, 2022 CHF (SFr) contract | Jun. 30, 2021 CHF (SFr) contract | |
Restructured loans | |||||
Restructured loans, Modifications, Number of contracts | contract | 8 | 4 | 5 | 12 | 16 |
Restructured loans, Modifications, Pre-Modification Recorded Investment | SFr 230 | SFr 69 | SFr 21 | SFr 299 | SFr 436 |
Restructured loans, Modifications, Post-Modification Recorded Investment | SFr 210 | SFr 47 | SFr 17 | SFr 257 | SFr 428 |
Restructured loans, subsequently defaulted, Number of contracts | contract | 0 | 0 | 3 | 0 | 3 |
Restructured loans, subsequently defaulted, Recorded Investment | SFr 0 | SFr 0 | SFr 156 | SFr 0 | SFr 156 |
Consumer | Loans collateralized by securities | |||||
Restructured loans | |||||
Restructured loans, subsequently defaulted, Number of contracts | contract | 0 | 0 | 3 | 0 | 3 |
Restructured loans, subsequently defaulted, Recorded Investment | SFr 0 | SFr 0 | SFr 156 | SFr 0 | SFr 156 |
Corporate and institutional | Real estate | |||||
Restructured loans | |||||
Restructured loans, Modifications, Number of contracts | contract | 1 | 0 | 1 | 1 | 1 |
Restructured loans, Modifications, Pre-Modification Recorded Investment | SFr 102 | SFr 0 | SFr 2 | SFr 102 | SFr 2 |
Restructured loans, Modifications, Post-Modification Recorded Investment | SFr 82 | SFr 0 | SFr 2 | SFr 82 | SFr 2 |
Corporate and institutional | Commercial and industrial loans | |||||
Restructured loans | |||||
Restructured loans, Modifications, Number of contracts | contract | 7 | 4 | 4 | 11 | 14 |
Restructured loans, Modifications, Pre-Modification Recorded Investment | SFr 128 | SFr 69 | SFr 19 | SFr 197 | SFr 390 |
Restructured loans, Modifications, Post-Modification Recorded Investment | SFr 128 | SFr 47 | SFr 15 | SFr 175 | SFr 382 |
Corporate and institutional | Financial institutions | |||||
Restructured loans | |||||
Restructured loans, Modifications, Number of contracts | contract | 0 | 1 | |||
Restructured loans, Modifications, Pre-Modification Recorded Investment | SFr 0 | SFr 44 | |||
Restructured loans, Modifications, Post-Modification Recorded Investment | SFr 0 | SFr 44 | |||
Bank | |||||
Restructured loans | |||||
Restructured loans, Modifications, Number of contracts | contract | 12 | 16 | |||
Restructured loans, Modifications, Pre-Modification Recorded Investment | SFr 299 | SFr 436 | |||
Restructured loans, Modifications, Post-Modification Recorded Investment | SFr 257 | SFr 428 | |||
Restructured loans, subsequently defaulted, Number of contracts | contract | 0 | 3 | |||
Restructured loans, subsequently defaulted, Recorded Investment | SFr 0 | SFr 156 | |||
Bank | Consumer | Loans collateralized by securities | |||||
Restructured loans | |||||
Restructured loans, subsequently defaulted, Number of contracts | contract | 0 | 3 | |||
Restructured loans, subsequently defaulted, Recorded Investment | SFr 0 | SFr 156 | |||
Bank | Corporate and institutional | Real estate | |||||
Restructured loans | |||||
Restructured loans, Modifications, Number of contracts | contract | 1 | 1 | |||
Restructured loans, Modifications, Pre-Modification Recorded Investment | SFr 102 | SFr 2 | |||
Restructured loans, Modifications, Post-Modification Recorded Investment | SFr 82 | SFr 2 | |||
Bank | Corporate and institutional | Commercial and industrial loans | |||||
Restructured loans | |||||
Restructured loans, Modifications, Number of contracts | contract | 11 | 14 | |||
Restructured loans, Modifications, Pre-Modification Recorded Investment | SFr 197 | SFr 390 | |||
Restructured loans, Modifications, Post-Modification Recorded Investment | SFr 175 | SFr 382 | |||
Bank | Corporate and institutional | Financial institutions | |||||
Restructured loans | |||||
Restructured loans, Modifications, Number of contracts | contract | 0 | 1 | |||
Restructured loans, Modifications, Pre-Modification Recorded Investment | SFr 0 | SFr 44 | |||
Restructured loans, Modifications, Post-Modification Recorded Investment | SFr 0 | SFr 44 |
CECL (Details 15)
CECL (Details 15) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2022 | Dec. 31, 2021 | |
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||||
Number of Macroeconomic Scenarios | 3 | 3 | ||
Scenario, Macroeconomic scenario, Downside [Member] | ||||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||||
Macroeconomic Scenario Probability, in percent | 40% | 40% | ||
Scenario, Macroeconomic scenario, Downside, Forecast, One year [Member] | Real GDP growth rate (%YoY) [Member] | Eurozone [Member] | ||||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 1.40% | (0.70%) | ||
Scenario, Macroeconomic scenario, Downside, Forecast, One year [Member] | Real GDP growth rate (%YoY) [Member] | SWITZERLAND [Member] | ||||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 1.50% | (0.40%) | ||
Scenario, Macroeconomic scenario, Downside, Forecast, One year [Member] | Real GDP growth rate (%YoY) [Member] | UNITED STATES [Member] | ||||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 1.40% | 0.10% | ||
Scenario, Macroeconomic scenario, Downside, Forecast, One year [Member] | Real GDP growth rate (%YoY) [Member] | UNITED KINGDOM [Member] | ||||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 2.60% | (0.90%) | ||
Scenario, Macroeconomic scenario, Downside, Forecast, One year [Member] | Industrial production (%YoY) [Member] | World [Member] | ||||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 0.30% | 0% | ||
Scenario, Macroeconomic scenario, Downside, Forecast, Two years [Member] | Real GDP growth rate (%YoY) [Member] | Eurozone [Member] | ||||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | (1.70%) | 1.40% | ||
Scenario, Macroeconomic scenario, Downside, Forecast, Two years [Member] | Real GDP growth rate (%YoY) [Member] | SWITZERLAND [Member] | ||||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 0.40% | 0.30% | ||
Scenario, Macroeconomic scenario, Downside, Forecast, Two years [Member] | Real GDP growth rate (%YoY) [Member] | UNITED STATES [Member] | ||||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | (0.40%) | 1.40% | ||
Scenario, Macroeconomic scenario, Downside, Forecast, Two years [Member] | Real GDP growth rate (%YoY) [Member] | UNITED KINGDOM [Member] | ||||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | (1.70%) | 1% | ||
Scenario, Macroeconomic scenario, Downside, Forecast, Two years [Member] | Industrial production (%YoY) [Member] | World [Member] | ||||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 0.40% | 2% | ||
Scenario, Macroeconomic scenario, Baseline [Member] | ||||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||||
Macroeconomic Scenario Probability, in percent | 50% | 50% | ||
Scenario, Macroeconomic scenario, Baseline, Forecast, One year [Member] | Real GDP growth rate (%YoY) [Member] | Eurozone [Member] | ||||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 2.40% | 3.80% | ||
Scenario, Macroeconomic scenario, Baseline, Forecast, One year [Member] | Real GDP growth rate (%YoY) [Member] | SWITZERLAND [Member] | ||||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 2.50% | 2.50% | ||
Scenario, Macroeconomic scenario, Baseline, Forecast, One year [Member] | Real GDP growth rate (%YoY) [Member] | UNITED STATES [Member] | ||||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 2.70% | 3.80% | ||
Scenario, Macroeconomic scenario, Baseline, Forecast, One year [Member] | Real GDP growth rate (%YoY) [Member] | UNITED KINGDOM [Member] | ||||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 3.70% | 5% | ||
Scenario, Macroeconomic scenario, Baseline, Forecast, One year [Member] | Industrial production (%YoY) [Member] | World [Member] | ||||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 2.50% | 3% | ||
Scenario, Macroeconomic scenario, Baseline, Forecast, Two years [Member] | Real GDP growth rate (%YoY) [Member] | Eurozone [Member] | ||||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 2% | 2.30% | ||
Scenario, Macroeconomic scenario, Baseline, Forecast, Two years [Member] | Real GDP growth rate (%YoY) [Member] | SWITZERLAND [Member] | ||||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 1.60% | 1.90% | ||
Scenario, Macroeconomic scenario, Baseline, Forecast, Two years [Member] | Real GDP growth rate (%YoY) [Member] | UNITED STATES [Member] | ||||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 2.30% | 1.90% | ||
Scenario, Macroeconomic scenario, Baseline, Forecast, Two years [Member] | Real GDP growth rate (%YoY) [Member] | UNITED KINGDOM [Member] | ||||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 0.90% | 3.30% | ||
Scenario, Macroeconomic scenario, Baseline, Forecast, Two years [Member] | Industrial production (%YoY) [Member] | World [Member] | ||||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 2.50% | 3% | ||
Scenario, Macroeconomic scenario, Upside [Member] | ||||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||||
Macroeconomic Scenario Probability, in percent | 10% | 10% | ||
Scenario, Macroeconomic scenario, Upside, Forecast, One year [Member] | Real GDP growth rate (%YoY) [Member] | Eurozone [Member] | ||||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 2.50% | 4.20% | ||
Scenario, Macroeconomic scenario, Upside, Forecast, One year [Member] | Real GDP growth rate (%YoY) [Member] | SWITZERLAND [Member] | ||||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 2.70% | 4.30% | ||
Scenario, Macroeconomic scenario, Upside, Forecast, One year [Member] | Real GDP growth rate (%YoY) [Member] | UNITED STATES [Member] | ||||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 3% | 4.50% | ||
Scenario, Macroeconomic scenario, Upside, Forecast, One year [Member] | Real GDP growth rate (%YoY) [Member] | UNITED KINGDOM [Member] | ||||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 3.90% | 7.80% | ||
Scenario, Macroeconomic scenario, Upside, Forecast, One year [Member] | Industrial production (%YoY) [Member] | World [Member] | ||||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 3.60% | 4.40% | ||
Scenario, Macroeconomic scenario, Upside, Forecast, Two years [Member] | Real GDP growth rate (%YoY) [Member] | Eurozone [Member] | ||||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 2.40% | 2.70% | ||
Scenario, Macroeconomic scenario, Upside, Forecast, Two years [Member] | Real GDP growth rate (%YoY) [Member] | SWITZERLAND [Member] | ||||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 2.20% | 2.80% | ||
Scenario, Macroeconomic scenario, Upside, Forecast, Two years [Member] | Real GDP growth rate (%YoY) [Member] | UNITED STATES [Member] | ||||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 2.80% | 2.40% | ||
Scenario, Macroeconomic scenario, Upside, Forecast, Two years [Member] | Real GDP growth rate (%YoY) [Member] | UNITED KINGDOM [Member] | ||||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 1.20% | 3.90% | ||
Scenario, Macroeconomic scenario, Upside, Forecast, Two years [Member] | Industrial production (%YoY) [Member] | World [Member] | ||||
Allowance for Credit Loss, Macroeconomic scenarios [Line Items] | ||||
Allowance for Credit Losses, Macroeconomic Forecast, in percent | 4% | 3.70% |
CECL (Details 16)
CECL (Details 16) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Other financial assets, held at amortized cost, Allowance for Credit Loss [Line Items] | |||||
Purchases | SFr 230 | SFr 151 | SFr 32 | SFr 381 | SFr 32 |
Bank | |||||
Other financial assets, held at amortized cost, Allowance for Credit Loss [Line Items] | |||||
Purchases | SFr 381 | SFr 32 |
Goodwill (Details)
Goodwill (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Gross amount of goodwill | ||||||
Balance at beginning of period | SFr 8,445 | SFr 8,431 | SFr 8,431 | |||
Foreign currency translation impact | 66 | 80 | ||||
Other | 0 | 0 | ||||
Balance at end of period | 8,511 | 8,445 | 8,511 | |||
Accumulated impairment | ||||||
Balance at beginning of period | 5,514 | 5,514 | 5,514 | |||
Goodwill impairment | 23 | 0 | SFr 0 | 23 | SFr 0 | |
Balance at end of period | 5,537 | 5,514 | 5,537 | |||
Net book value | ||||||
Net book value | 2,974 | 2,931 | 2,974 | SFr 2,917 | ||
Operating Segments | Wealth Management | ||||||
Gross amount of goodwill | ||||||
Balance at beginning of period | 1,328 | 1,323 | 1,323 | |||
Foreign currency translation impact | 25 | 30 | ||||
Other | (23) | (23) | ||||
Balance at end of period | 1,330 | 1,328 | 1,330 | |||
Accumulated impairment | ||||||
Balance at beginning of period | 0 | 0 | 0 | |||
Goodwill impairment | 0 | 0 | ||||
Balance at end of period | 0 | 0 | 0 | |||
Net book value | ||||||
Net book value | 1,330 | 1,330 | ||||
Operating Segments | Investment Bank | ||||||
Gross amount of goodwill | ||||||
Balance at beginning of period | 5,502 | 5,502 | 5,502 | |||
Foreign currency translation impact | 0 | 0 | ||||
Other | 23 | 23 | ||||
Balance at end of period | 5,525 | 5,502 | 5,525 | |||
Accumulated impairment | ||||||
Balance at beginning of period | 5,502 | 5,502 | 5,502 | |||
Goodwill impairment | 23 | 23 | ||||
Balance at end of period | 5,525 | 5,502 | 5,525 | |||
Net book value | ||||||
Net book value | 0 | 0 | ||||
Operating Segments | Swiss Bank | ||||||
Gross amount of goodwill | ||||||
Balance at beginning of period | 489 | 487 | 487 | |||
Foreign currency translation impact | 7 | 9 | ||||
Other | 0 | 0 | ||||
Balance at end of period | 496 | 489 | 496 | |||
Accumulated impairment | ||||||
Balance at beginning of period | 0 | 0 | 0 | |||
Goodwill impairment | 0 | 0 | ||||
Balance at end of period | 0 | 0 | 0 | |||
Net book value | ||||||
Net book value | 496 | 496 | ||||
Operating Segments | Asset Management | ||||||
Gross amount of goodwill | ||||||
Balance at beginning of period | 1,114 | 1,107 | 1,107 | |||
Foreign currency translation impact | 34 | 41 | ||||
Other | 0 | 0 | ||||
Balance at end of period | 1,148 | 1,114 | 1,148 | |||
Accumulated impairment | ||||||
Balance at beginning of period | 0 | 0 | 0 | |||
Goodwill impairment | 0 | 0 | ||||
Balance at end of period | 0 | 0 | 0 | |||
Net book value | ||||||
Net book value | 1,148 | 1,148 | ||||
Operating Segments | Strategic Resolution Unit (old) | ||||||
Gross amount of goodwill | ||||||
Balance at end of period | 12 | 12 | ||||
Bank | ||||||
Gross amount of goodwill | ||||||
Balance at beginning of period | 7,748 | 7,748 | ||||
Foreign currency translation impact | 81 | |||||
Other | 0 | |||||
Balance at end of period | 7,829 | 7,829 | ||||
Accumulated impairment | ||||||
Balance at beginning of period | 4,867 | 4,867 | ||||
Goodwill impairment | 23 | SFr 0 | ||||
Balance at end of period | 4,890 | 4,890 | ||||
Net book value | ||||||
Net book value | 2,939 | 2,939 | SFr 2,881 | |||
Bank | Operating Segments | Wealth Management | ||||||
Gross amount of goodwill | ||||||
Balance at beginning of period | 1,300 | 1,300 | ||||
Foreign currency translation impact | 31 | |||||
Other | (23) | |||||
Balance at end of period | 1,308 | 1,308 | ||||
Accumulated impairment | ||||||
Balance at beginning of period | 0 | 0 | ||||
Goodwill impairment | 0 | |||||
Balance at end of period | 0 | 0 | ||||
Net book value | ||||||
Net book value | 1,308 | 1,308 | ||||
Bank | Operating Segments | Investment Bank | ||||||
Gross amount of goodwill | ||||||
Balance at beginning of period | 4,855 | 4,855 | ||||
Foreign currency translation impact | 0 | |||||
Other | 23 | |||||
Balance at end of period | 4,878 | 4,878 | ||||
Accumulated impairment | ||||||
Balance at beginning of period | 4,855 | 4,855 | ||||
Goodwill impairment | 23 | |||||
Balance at end of period | 4,878 | 4,878 | ||||
Net book value | ||||||
Net book value | 0 | 0 | ||||
Bank | Operating Segments | Swiss Bank | ||||||
Gross amount of goodwill | ||||||
Balance at beginning of period | 480 | 480 | ||||
Foreign currency translation impact | 9 | |||||
Other | 0 | |||||
Balance at end of period | 489 | 489 | ||||
Accumulated impairment | ||||||
Balance at beginning of period | 0 | 0 | ||||
Goodwill impairment | 0 | |||||
Balance at end of period | 0 | 0 | ||||
Net book value | ||||||
Net book value | 489 | 489 | ||||
Bank | Operating Segments | Asset Management | ||||||
Gross amount of goodwill | ||||||
Balance at beginning of period | 1,101 | 1,101 | ||||
Foreign currency translation impact | 41 | |||||
Other | 0 | |||||
Balance at end of period | 1,142 | 1,142 | ||||
Accumulated impairment | ||||||
Balance at beginning of period | SFr 0 | 0 | ||||
Goodwill impairment | 0 | |||||
Balance at end of period | 0 | 0 | ||||
Net book value | ||||||
Net book value | 1,142 | 1,142 | ||||
Bank | Operating Segments | Strategic Resolution Unit (old) | ||||||
Gross amount of goodwill | ||||||
Balance at end of period | SFr 12 | SFr 12 |
Other assets and other liabil_3
Other assets and other liabilities (Details) - CHF (SFr) SFr in Millions | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 |
Other assets | ||||||
Cash collateral on derivative instruments | SFr 9,674 | SFr 9,262 | SFr 7,659 | |||
Cash collateral on non-derivative transactions | 522 | 412 | 395 | |||
Derivative instruments used for hedging | 73 | 0 | 212 | |||
Assets held-for-sale | 7,559 | 8,679 | 8,020 | |||
of which loans | 7,515 | 8,642 | 7,924 | |||
allowance for loans held-for-sale | (3) | (46) | (44) | |||
of which real estate | 44 | 36 | 94 | |||
of which long-lived assets | 0 | 1 | 2 | |||
Premises, equipment and right-of-use assets | 7,448 | 7,390 | 7,305 | |||
Assets held for separate accounts | 96 | 96 | 98 | |||
Interest and fees receivable | 2,959 | 3,012 | 2,884 | |||
Deferred tax assets | 3,867 | 4,052 | 3,707 | |||
Prepaid expenses | 1,259 | 1,335 | 509 | |||
of which cloud computing arrangement implementation costs | 64 | 56 | 52 | |||
Failed purchases | 1,041 | 1,111 | 1,307 | |||
Defined benefit pension and post-retirement plan assets | 4,376 | 4,306 | 4,215 | |||
Other | 5,062 | 4,732 | 4,920 | |||
of which digital asset safeguarding assets | 31 | |||||
Other assets | 43,936 | 44,387 | 41,231 | |||
Other liabilities | ||||||
Cash collateral on derivative instruments | 5,065 | 5,016 | 5,533 | |||
Cash collateral on non-derivative transactions | 892 | 536 | 528 | |||
Derivative instruments used for hedging | 4 | 115 | 10 | |||
Operating Lease, Liability | 2,536 | 2,611 | 2,591 | |||
Provisions | 2,612 | 2,187 | 1,925 | |||
of which off-balance sheet risk | 248 | 255 | 257 | |||
Restructuring liabilities | 30 | 25 | 19 | SFr 25 | SFr 42 | SFr 52 |
Liabilities held for separate accounts | 96 | 96 | 98 | |||
Interest and fees payable | 3,894 | 3,823 | 3,969 | |||
Current tax liabilities | 641 | 648 | 685 | |||
Deferred tax liabilities | 1,043 | 793 | 754 | |||
Failed sales | 1,731 | 1,532 | 1,736 | |||
Defined benefit pension and post-retirement plan liabilities | 349 | 351 | 353 | |||
Other | 4,169 | 4,245 | 4,443 | |||
of which digital asset safeguarding liabilities | 31 | |||||
Other liabilities | 23,062 | 21,978 | 22,644 | |||
Restricted loans, representing collateral on secured borrowings, included in loans held-for-sale | 246 | 288 | 391 | |||
Foreclosed or repossessed real estate | 27 | 8 | 8 | |||
Foreclosed or repossessed residential real estate | 27 | 8 | 8 | |||
Other assets, held at amortized cost, Allowance for Credit Loss | 31 | SFr 30 | 30 | |||
Bank | ||||||
Other assets | ||||||
Cash collateral on derivative instruments | 9,674 | 7,659 | ||||
Cash collateral on non-derivative transactions | 522 | 395 | ||||
Derivative instruments used for hedging | 73 | 212 | ||||
Assets held-for-sale | 7,559 | 8,020 | ||||
of which loans | 7,515 | 7,924 | ||||
allowance for loans held-for-sale | (3) | (44) | ||||
of which real estate | 44 | 94 | ||||
of which long-lived assets | 0 | 2 | ||||
Premises, equipment and right-of-use assets | 6,302 | 6,140 | ||||
Assets held for separate accounts | 96 | 98 | ||||
Interest and fees receivable | 2,985 | 2,934 | ||||
Deferred tax assets | 3,825 | 3,666 | ||||
Prepaid expenses | 1,113 | 394 | ||||
of which cloud computing arrangement implementation costs | 58 | 46 | ||||
Failed purchases | 1,041 | 1,307 | ||||
Defined benefit pension and post-retirement plan assets | 924 | 974 | ||||
Other | 5,111 | 4,916 | ||||
of which digital asset safeguarding assets | 31 | |||||
Other assets | 39,225 | 36,715 | ||||
Other liabilities | ||||||
Cash collateral on derivative instruments | 5,102 | 5,533 | ||||
Cash collateral on non-derivative transactions | 892 | 528 | ||||
Derivative instruments used for hedging | 4 | 10 | ||||
Operating Lease, Liability | 1,833 | 1,861 | ||||
Provisions | 2,598 | 1,912 | ||||
of which off-balance sheet risk | 248 | 257 | ||||
Restructuring liabilities | 29 | 19 | SFr 25 | SFr 49 | ||
Liabilities held for separate accounts | 96 | 98 | ||||
Interest and fees payable | 3,887 | 3,930 | ||||
Current tax liabilities | 628 | 671 | ||||
Deferred tax liabilities | 358 | 122 | ||||
Failed sales | 1,731 | 1,736 | ||||
Defined benefit pension and post-retirement plan liabilities | 339 | 343 | ||||
Other | 4,320 | 4,546 | ||||
of which digital asset safeguarding liabilities | 31 | |||||
Other liabilities | 21,817 | 21,309 | ||||
Restricted loans, representing collateral on secured borrowings, included in loans held-for-sale | 246 | 391 | ||||
Foreclosed or repossessed real estate | 27 | 8 | ||||
Foreclosed or repossessed residential real estate | 27 | 8 | ||||
Other assets, held at amortized cost, Allowance for Credit Loss | SFr 29 | SFr 28 |
Other assets and other liabil_4
Other assets and other liabilities (Details 2) - CHF (SFr) SFr in Millions | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
Right-of-use assets [Abstract] | |||
Premises, equipment and right-of-use assets | SFr 7,448 | SFr 7,390 | SFr 7,305 |
Bank | |||
Right-of-use assets [Abstract] | |||
Premises, equipment and right-of-use assets | SFr 6,302 | SFr 6,140 |
Long-term debt (Details)
Long-term debt (Details) - CHF (SFr) SFr in Millions | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
Long-term debt | |||
Senior | SFr 135,729 | SFr 135,746 | SFr 141,402 |
Subordinated | 20,456 | 23,099 | 24,103 |
Non-recourse liabilities from consolidated VIEs | 1,825 | 1,475 | 1,391 |
Long-term debt | 158,010 | 160,320 | 166,896 |
of which reported at fair value | 66,140 | 66,270 | 68,722 |
Structured notes | |||
Long-term debt | |||
Long-term debt | 41,893 | SFr 42,086 | 43,126 |
Bank | |||
Long-term debt | |||
Senior | 91,458 | 95,468 | |
Subordinated | 59,065 | 63,836 | |
Non-recourse liabilities from consolidated VIEs | 1,825 | 1,391 | |
Long-term debt | 152,348 | 160,695 | |
of which reported at fair value | 65,276 | 67,788 | |
Bank | Structured notes | |||
Long-term debt | |||
Long-term debt | SFr 41,893 | SFr 43,126 |
Long-term debt - Maturities (De
Long-term debt - Maturities (Details 2) - CHF (SFr) SFr in Millions | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
Long-term debt by maturities | |||
Long-term debt | SFr 158,010 | SFr 160,320 | SFr 166,896 |
Structured notes | |||
Long-term debt by maturities | |||
Long-term debt | 41,893 | 42,086 | 43,126 |
Structured notes | Equity | |||
Long-term debt by maturities | |||
Long-term debt | 25,595 | 28,224 | 28,681 |
Structured notes | Fixed income | |||
Long-term debt by maturities | |||
Long-term debt | 13,524 | 11,081 | 11,678 |
Structured notes | Credit | |||
Long-term debt by maturities | |||
Long-term debt | 2,342 | 2,385 | 2,363 |
Structured notes | Other | |||
Long-term debt by maturities | |||
Long-term debt | 432 | SFr 396 | 404 |
Bank | |||
Long-term debt by maturities | |||
Long-term debt | 152,348 | 160,695 | |
Bank | Structured notes | |||
Long-term debt by maturities | |||
Long-term debt | 41,893 | 43,126 | |
Bank | Structured notes | Equity | |||
Long-term debt by maturities | |||
Long-term debt | 25,595 | 28,681 | |
Bank | Structured notes | Fixed income | |||
Long-term debt by maturities | |||
Long-term debt | 13,524 | 11,678 | |
Bank | Structured notes | Credit | |||
Long-term debt by maturities | |||
Long-term debt | 2,342 | 2,363 | |
Bank | Structured notes | Other | |||
Long-term debt by maturities | |||
Long-term debt | SFr 432 | SFr 404 |
Accumulated other comprehensi_3
Accumulated other comprehensive income (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | SFr (20,646) | SFr (21,326) | SFr (21,326) | ||
Balance at end of period | (17,537) | (20,646) | (17,537) | ||
Gains/(losses) on cash flow hedges | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | (694) | (95) | SFr 103 | (95) | SFr 206 |
Increase/(decrease) | (127) | (601) | (19) | (728) | (110) |
Reclassification adjustments, included in net income | (123) | 2 | (22) | (121) | (34) |
Total increase/(decrease) | (250) | (599) | (41) | (849) | (144) |
Balance at end of period | (944) | (694) | 62 | (944) | 62 |
Cumulative translation adjustments | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | (16,560) | (16,739) | (15,534) | (16,739) | (17,528) |
Increase/(decrease) | 765 | 179 | (471) | 944 | 1,523 |
Reclassification adjustments, included in net income | 0 | 0 | 0 | 0 | 0 |
Total increase/(decrease) | 765 | 179 | (471) | 944 | 1,523 |
Balance at end of period | (15,795) | (16,560) | (16,005) | (15,795) | (16,005) |
Unrealized gains/(losses) on securities | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | 8 | 13 | 13 | 13 | 13 |
Increase/(decrease) | (1) | (5) | 0 | (6) | 0 |
Reclassification adjustments, included in net income | 0 | 0 | 0 | 0 | 0 |
Total increase/(decrease) | (1) | (5) | 0 | (6) | 0 |
Balance at end of period | 7 | 8 | 13 | 7 | 13 |
Actuarial gains/(losses) | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | (2,644) | (2,705) | (3,662) | (2,705) | (3,727) |
Increase/(decrease) | 1 | (1) | (89) | 0 | (92) |
Reclassification adjustments, included in net income | 60 | 62 | 78 | 122 | 146 |
Total increase/(decrease) | 61 | 61 | (11) | 122 | 54 |
Balance at end of period | (2,583) | (2,644) | (3,673) | (2,583) | (3,673) |
Net prior service credit/ (cost) | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | 348 | 365 | 432 | 365 | 456 |
Increase/(decrease) | 0 | 0 | 0 | 0 | 0 |
Reclassification adjustments, included in net income | (18) | (17) | (24) | (35) | (48) |
Total increase/(decrease) | (18) | (17) | (24) | (35) | (48) |
Balance at end of period | 330 | 348 | 408 | 330 | 408 |
Accumulated Gains (Losses) On Liabilities Related To Credit Risk | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | (1,104) | (2,165) | (2,019) | (2,165) | (2,570) |
Increase/(decrease) | 2,546 | 1,050 | (514) | 3,596 | (9) |
Reclassification adjustments, included in net income | 6 | 11 | 31 | 17 | 77 |
Total increase/(decrease) | 2,552 | 1,061 | (483) | 3,613 | 68 |
Balance at end of period | 1,448 | (1,104) | (2,502) | 1,448 | (2,502) |
Accumulated other comprehensive income | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | (20,646) | (21,326) | (20,667) | (21,326) | (23,150) |
Increase/(decrease) | 3,184 | 622 | (1,093) | 3,806 | 1,312 |
Reclassification adjustments, included in net income | (75) | 58 | 63 | (17) | 141 |
Total increase/(decrease) | 3,109 | 680 | (1,030) | 3,789 | 1,453 |
Balance at end of period | (17,537) | (20,646) | (21,697) | (17,537) | (21,697) |
Bank | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | (19,359) | (19,359) | |||
Balance at end of period | (15,742) | (15,742) | |||
Bank | Gains/(losses) on cash flow hedges | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | (95) | (95) | 205 | ||
Increase/(decrease) | (727) | (109) | |||
Reclassification adjustments, included in net income | (121) | (34) | |||
Total increase/(decrease) | (848) | (143) | |||
Balance at end of period | (943) | 62 | (943) | 62 | |
Bank | Cumulative translation adjustments | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | (16,760) | (16,760) | (17,517) | ||
Increase/(decrease) | 934 | 1,473 | |||
Reclassification adjustments, included in net income | 0 | 0 | |||
Total increase/(decrease) | 934 | 1,473 | |||
Balance at end of period | (15,826) | (16,044) | (15,826) | (16,044) | |
Bank | Unrealized gains/(losses) on securities | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | 13 | 13 | 13 | ||
Increase/(decrease) | (6) | 0 | |||
Reclassification adjustments, included in net income | 0 | 0 | |||
Total increase/(decrease) | (6) | 0 | |||
Balance at end of period | 7 | 13 | 7 | 13 | |
Bank | Actuarial gains/(losses) | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | (429) | (429) | (460) | ||
Increase/(decrease) | 0 | (85) | |||
Reclassification adjustments, included in net income | 4 | 0 | |||
Total increase/(decrease) | 4 | (85) | |||
Balance at end of period | (425) | (545) | (425) | (545) | |
Bank | Net prior service credit/ (cost) | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | (6) | (6) | (11) | ||
Increase/(decrease) | (1) | (1) | |||
Reclassification adjustments, included in net income | 1 | 1 | |||
Total increase/(decrease) | 0 | 0 | |||
Balance at end of period | (6) | (11) | (6) | (11) | |
Bank | Accumulated Gains (Losses) On Liabilities Related To Credit Risk | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | (2,082) | (2,082) | (2,469) | ||
Increase/(decrease) | 3,516 | (5) | |||
Reclassification adjustments, included in net income | 17 | 77 | |||
Total increase/(decrease) | 3,533 | 72 | |||
Balance at end of period | 1,451 | (2,397) | 1,451 | (2,397) | |
Bank | Accumulated other comprehensive income | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
Balance at beginning of period | SFr (19,359) | (19,359) | (20,239) | ||
Increase/(decrease) | 3,716 | 1,273 | |||
Reclassification adjustments, included in net income | (99) | 44 | |||
Total increase/(decrease) | 3,617 | 1,317 | |||
Balance at end of period | SFr (15,742) | SFr (18,922) | SFr (15,742) | SFr (18,922) |
AOCI - Additional share informa
AOCI - Additional share information (Details 2) - SFr / shares | 3 Months Ended | 6 Months Ended | ||||||||||
Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |||||||
Common shares issued | ||||||||||||
Common Stock, Shares, Issued, Beginning Balance | 2,650,747,720 | 2,650,747,720 | 2,447,747,720 | 2,650,747,720 | 2,447,747,720 | |||||||
Issuance of common shares | 0 | 0 | 203,000,000 | 0 | 203,000,000 | |||||||
Common Stock, Shares, Issued, Ending Balance | 2,650,747,720 | 2,650,747,720 | 2,650,747,720 | 2,650,747,720 | 2,650,747,720 | |||||||
Treasury shares | ||||||||||||
Treasury Stock, Shares, Beginning Balance | 94,644,251 | 81,063,211 | 83,737,482 | 81,063,211 | 41,602,841 | |||||||
Sale of treasury shares | 514,073,330 | 578,094,705 | 510,392,920 | 1,092,168,035 | 1,063,124,303 | |||||||
Issuance of common shares relating to mandatory convertible notes | 0 | 0 | 203,000,000 | 0 | 203,000,000 | |||||||
Conversion of mandatory convertible notes | 0 | 0 | 106,805 | 0 | 106,805 | |||||||
Repurchase of treasury shares | 507,466,029 | 597,407,387 | 514,715,462 | 1,104,873,416 | 1,114,034,798 | |||||||
Share-based compensation, net of tax | 48,048,471 | 5,731,642 | 51,473,883 | 53,780,113 | 55,927,195 | |||||||
Treasury Stock, Shares, Ending Balance | 39,988,479 | 94,644,251 | 239,479,336 | 39,988,479 | 239,479,336 | |||||||
Common shares outstanding | 2,610,759,241 | [1] | 2,556,103,469 | [2] | 2,411,268,384 | [2] | 2,610,759,241 | [1] | 2,411,268,384 | [2] | 2,569,684,509 | |
Par value (in CHF per share) | SFr 0.04 | SFr 0.04 | SFr 0.04 | SFr 0.04 | ||||||||
Authorized shares (in shares) | [3] | 3,225,747,720 | 3,100,747,720 | 3,225,747,720 | 3,100,747,720 | |||||||
Unissued shares (in shares) | 575,000,000 | 450,000,000 | 575,000,000 | |||||||||
Capital Instrument Reserved | ||||||||||||
Treasury shares | ||||||||||||
Unissued shares (in shares) | 111,524,164 | 111,524,164 | 111,524,164 | |||||||||
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 575,000,000 unissued shares (conditional, conversion and authorized capital) were available for issuance without further approval of the shareholders. 111,524,164 of these shares were reserved for capital instruments.[2]At par value CHF 0.04 each, fully paid. In addition to the treasury shares, a maximum of 450,000,000 unissued shares (conditional, conversion and authorized capital) were available for issuance without further approval of the shareholders. 111,524,164 of these shares were reserved for capital instruments.[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, 2022. 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, 2022 | Mar. 31, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Reclassification adjustments, included in net income | |||||
Income tax expense/(benefit) | SFr 419 | SFr (151) | SFr 566 | SFr 268 | SFr 40 |
Gains/(losses) on cash flow hedges | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income | (123) | 2 | (22) | (121) | (34) |
Cumulative translation adjustments | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income | 0 | 0 | 0 | 0 | 0 |
Unrealized gains/(losses) on securities | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income | 0 | 0 | 0 | 0 | 0 |
Accumulated other comprehensive income | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income | (75) | 58 | 63 | (17) | 141 |
Net prior service credit/ (cost) | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income | (18) | (17) | (24) | (35) | (48) |
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 | (22) | (21) | (29) | (43) | (59) |
Income tax expense/(benefit) | 4 | 4 | 5 | 8 | 11 |
Actuarial gains/(losses) | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income | 60 | 62 | 78 | 122 | 146 |
Actuarial gains/(losses) | Reclassification out of Accumulated Other Comprehensive Income [Member] | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income, before tax | 74 | 76 | 95 | 150 | 178 |
Income tax expense/(benefit) | SFr (14) | SFr (14) | SFr (17) | (28) | (32) |
Bank | |||||
Reclassification adjustments, included in net income | |||||
Income tax expense/(benefit) | 221 | 6 | |||
Bank | Gains/(losses) on cash flow hedges | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income | (121) | (34) | |||
Bank | Cumulative translation adjustments | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income | 0 | 0 | |||
Bank | Unrealized gains/(losses) on securities | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income | 0 | 0 | |||
Bank | Accumulated other comprehensive income | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income | (99) | 44 | |||
Bank | Net prior service credit/ (cost) | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income | 1 | 1 | |||
Bank | Actuarial gains/(losses) | |||||
Reclassification adjustments, included in net income | |||||
Reclassification adjustments, included in net income | 4 | 0 | |||
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 | 5 | (2) | |||
Income tax expense/(benefit) | SFr (1) | SFr 2 |
Offsetting of financial asset_3
Offsetting of financial assets (Details) - CHF (SFr) SFr in Millions | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | SFr 105,100 | SFr 106,100 | |
Offsetting | (94,900) | (95,000) | |
of which counterparty netting | (84,400) | (83,000) | |
of which cash collateral netting | (10,500) | (12,000) | |
Total net derivatives subject to enforceable master netting agreements | 10,200 | 11,100 | |
Total derivatives not subject to enforceable master netting agreements | 6,000 | 6,700 | |
Total net derivatives presented in the consolidated balance sheets | 16,200 | 17,800 | |
Offsetting of securities purchased under resale agreements and securities borrowing transactions | |||
Securities purchased under resale agreements, gross | 88,700 | 74,100 | |
Securities purchased under resale agreements, offsetting | (14,300) | (16,600) | |
Securities purchased under resale agreements, net | 74,400 | 57,500 | |
Securities borrowing transactions, gross | 7,500 | 22,200 | |
Securities borrowing transactions, offsetting | 0 | 0 | |
Securities borrowing transactions, net | 7,500 | 22,200 | |
Total subject to enforceable master netting agreements, gross | 96,200 | 96,300 | |
Total subject to enforceable master netting agreements, offsetting | (14,300) | (16,600) | |
Total subject to enforceable master netting agreements, net | 81,900 | 79,700 | |
Total not subject to enforceable master netting agreements | 22,300 | 24,200 | |
Total, gross | 118,500 | 120,500 | |
Total, net | 104,200 | 103,900 | |
of which reported at fair value | 82,392 | SFr 71,059 | 68,623 |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 10,200 | 11,100 | |
Derivatives, financial instruments | 4,600 | 4,500 | |
Derivatives, cash collateral received/pledged | 300 | 0 | |
Derivatives, net exposure | 5,300 | 6,600 | |
Securities purchased under resale agreements, net | 74,400 | 57,500 | |
Securities purchased under resale agreements, financial instruments | 74,200 | 57,500 | |
Securities purchased under resale agreements, cash collateral received/pledged | 200 | 0 | |
Securities purchased under resale agreements, net exposure | 0 | 0 | |
Securities borrowing transactions, net | 7,500 | 22,200 | |
Securities borrowing transactions, financial instruments | 7,400 | 21,900 | |
Securities borrowing transactions, cash collateral received/pledged | 0 | 0 | |
Securities borrowing transactions, net exposure | 100 | 300 | |
Total financial assets subject to enforceable master netting agreements, net | 92,100 | 90,800 | |
Total financial assets subject to enforceable master netting agreements, financial instruments | 86,200 | 83,900 | |
Total financial assets subject to enforceable master netting agreements, cash collateral received/pledged | 500 | 0 | |
Total financial assets subject to enforceable master netting agreements, net exposure | 5,400 | 6,900 | |
Trading assets | |||
Offsetting of derivatives | |||
Total net derivatives presented in the consolidated balance sheets | 16,100 | 17,600 | |
Other assets | |||
Offsetting of derivatives | |||
Total net derivatives presented in the consolidated balance sheets | 100 | 200 | |
OTC-cleared | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 13,600 | 5,900 | |
Offsetting | (13,600) | (5,600) | |
Total net derivatives subject to enforceable master netting agreements | 0 | 300 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 0 | 300 | |
OTC | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 69,600 | 77,300 | |
Offsetting | (59,400) | (68,400) | |
Total net derivatives subject to enforceable master netting agreements | 10,200 | 8,900 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 10,200 | 8,900 | |
Exchange-traded | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 21,900 | 22,900 | |
Offsetting | (21,900) | (21,000) | |
Total net derivatives subject to enforceable master netting agreements | 0 | 1,900 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 0 | 1,900 | |
Interest rate derivatives | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 41,900 | 48,900 | |
Interest rate derivatives | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 12,900 | 4,400 | |
Interest rate derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 29,100 | 44,400 | |
Interest rate derivatives | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | (100) | 100 | |
Foreign exchange derivatives | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 30,200 | 20,200 | |
Foreign exchange derivatives | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 300 | 200 | |
Foreign exchange derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 29,800 | 20,000 | |
Foreign exchange derivatives | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 100 | 0 | |
Equity/index-related derivatives | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 28,300 | 30,900 | |
Equity/index-related derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 6,500 | 8,200 | |
Equity/index-related derivatives | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 21,800 | 22,700 | |
Credit derivatives | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 3,300 | 4,600 | |
Credit derivatives | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 400 | 1,300 | |
Credit derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 2,900 | 3,300 | |
Other products | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 1,400 | 1,500 | |
Other products | OTC | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 1,300 | 1,400 | |
Other products | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 100 | 100 | |
Bank | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 105,700 | 106,200 | |
Offsetting | (95,500) | (95,100) | |
of which counterparty netting | (84,400) | (83,000) | |
of which cash collateral netting | (11,100) | (12,100) | |
Total net derivatives subject to enforceable master netting agreements | 10,200 | 11,100 | |
Total derivatives not subject to enforceable master netting agreements | 6,000 | 6,700 | |
Total net derivatives presented in the consolidated balance sheets | 16,200 | 17,800 | |
Offsetting of securities purchased under resale agreements and securities borrowing transactions | |||
Securities purchased under resale agreements, gross | 88,700 | 74,100 | |
Securities purchased under resale agreements, offsetting | (14,300) | (16,600) | |
Securities purchased under resale agreements, net | 74,400 | 57,500 | |
Securities borrowing transactions, gross | 7,500 | 22,200 | |
Securities borrowing transactions, offsetting | 0 | 0 | |
Securities borrowing transactions, net | 7,500 | 22,200 | |
Total subject to enforceable master netting agreements, gross | 96,200 | 96,300 | |
Total subject to enforceable master netting agreements, offsetting | (14,300) | (16,600) | |
Total subject to enforceable master netting agreements, net | 81,900 | 79,700 | |
Total not subject to enforceable master netting agreements | 22,300 | 24,200 | |
Total, gross | 118,500 | 120,500 | |
Total, net | 104,200 | 103,900 | |
of which reported at fair value | 82,392 | 68,623 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 10,200 | 11,100 | |
Derivatives, financial instruments | 4,600 | 4,500 | |
Derivatives, cash collateral received/pledged | 300 | 0 | |
Derivatives, net exposure | 5,300 | 6,600 | |
Securities purchased under resale agreements, net | 74,400 | 57,500 | |
Securities purchased under resale agreements, financial instruments | 74,200 | 57,500 | |
Securities purchased under resale agreements, cash collateral received/pledged | 200 | 0 | |
Securities purchased under resale agreements, net exposure | 0 | 0 | |
Securities borrowing transactions, net | 7,500 | 22,200 | |
Securities borrowing transactions, financial instruments | 7,400 | 21,900 | |
Securities borrowing transactions, cash collateral received/pledged | 0 | 0 | |
Securities borrowing transactions, net exposure | 100 | 300 | |
Total financial assets subject to enforceable master netting agreements, net | 92,100 | 90,800 | |
Total financial assets subject to enforceable master netting agreements, financial instruments | 86,200 | 83,900 | |
Total financial assets subject to enforceable master netting agreements, cash collateral received/pledged | 500 | 0 | |
Total financial assets subject to enforceable master netting agreements, net exposure | 5,400 | 6,900 | |
Bank | Trading assets | |||
Offsetting of derivatives | |||
Total net derivatives presented in the consolidated balance sheets | 16,100 | 17,600 | |
Bank | Other assets | |||
Offsetting of derivatives | |||
Total net derivatives presented in the consolidated balance sheets | 100 | 200 | |
Bank | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 13,600 | 5,900 | |
Offsetting | (13,600) | (5,600) | |
Total net derivatives subject to enforceable master netting agreements | 0 | 300 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 0 | 300 | |
Bank | OTC | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 70,200 | 77,400 | |
Offsetting | (60,000) | (68,500) | |
Total net derivatives subject to enforceable master netting agreements | 10,200 | 8,900 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 10,200 | 8,900 | |
Bank | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 21,900 | 22,900 | |
Offsetting | (21,900) | (21,000) | |
Total net derivatives subject to enforceable master netting agreements | 0 | 1,900 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 0 | 1,900 | |
Bank | Interest rate derivatives | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 42,500 | 49,000 | |
Bank | Interest rate derivatives | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 12,900 | 4,400 | |
Bank | Interest rate derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 29,700 | 44,500 | |
Bank | Interest rate derivatives | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | (100) | 100 | |
Bank | Foreign exchange derivatives | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 30,200 | 20,200 | |
Bank | Foreign exchange derivatives | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 300 | 200 | |
Bank | Foreign exchange derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 29,800 | 20,000 | |
Bank | Foreign exchange derivatives | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 100 | 0 | |
Bank | Equity/index-related derivatives | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 28,300 | 30,900 | |
Bank | Equity/index-related derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 6,500 | 8,200 | |
Bank | Equity/index-related derivatives | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 21,800 | 22,700 | |
Bank | Credit derivatives | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 3,300 | 4,600 | |
Bank | Credit derivatives | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 400 | 1,300 | |
Bank | Credit derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 2,900 | 3,300 | |
Bank | Other products | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 1,400 | 1,500 | |
Bank | Other products | OTC | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | 1,300 | 1,400 | |
Bank | Other products | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative assets, gross, subject to enforceable master netting agreements | SFr 100 | SFr 100 |
Offsetting of financial liabili
Offsetting of financial liabilities (Details 2) - CHF (SFr) SFr in Millions | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | SFr 111,100 | SFr 107,200 | |
Offsetting | (99,800) | (100,900) | |
of which counterparty netting | (84,400) | (83,000) | |
of which cash collateral netting | (15,400) | (17,900) | |
Total net derivatives subject to enforceable master netting agreements | 11,300 | 6,300 | |
Total derivatives not subject to enforceable master netting agreements | 4,400 | 4,300 | |
Total net derivatives presented in the consolidated balance sheets | 15,700 | 10,600 | |
Offsetting of securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral | |||
Securities sold under repurchase agreements, gross | 31,000 | 32,200 | |
Securities sold under repurchase agreements, offsetting | (14,300) | (16,600) | |
Securities sold under repurchase agreements, net | 16,700 | 15,600 | |
Securities lending transactions, gross | 600 | 15,400 | |
Securities lending transactions, offsetting | 0 | 0 | |
Securities lending transactions, net | 600 | 15,400 | |
Obligation to return securities received as collateral, at fair value, gross | 7,300 | 14,700 | |
Obligation to return securities received as collateral, at fair value, offsetting | 0 | 0 | |
Obligation to return securities received as collateral, at fair value, net | 7,300 | 14,700 | |
Total subject to enforceable master netting agreements, gross | 38,900 | 62,300 | |
Total subject to enforceable master netting agreements, offsetting | (14,300) | (16,600) | |
Total subject to enforceable master netting agreements, net | 24,600 | 45,700 | |
Total not subject to enforceable master netting agreements | 4,400 | 4,600 | |
Total, gross | 43,300 | 66,900 | |
Total, net | 29,000 | 50,300 | |
of which reported at fair value | 14,145 | SFr 12,766 | 13,213 |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 11,300 | 6,300 | |
Derivatives, financial instruments | 1,900 | 1,300 | |
Derivatives, cash collateral received/pledged | 0 | 0 | |
Derivatives, net exposure | 9,400 | 5,000 | |
Securities sold under repurchase agreements, net | 16,700 | 15,600 | |
Securities sold under repurchase agreements, financial instruments | 16,500 | 15,500 | |
Securities sold under repurchase agreements, cash collateral received/pledged | 200 | 100 | |
Securities sold under repurchase agreements, net exposure | 0 | 0 | |
Securities lending transactions, net | 600 | 15,400 | |
Securities lending transactions, financial instruments | 600 | 15,300 | |
Securities lending transactions, cash collateral received/pledged | 0 | 0 | |
Securities lending transactions, net exposure | 0 | 100 | |
Obligation to return securities received as collateral, at fair value, net | 7,300 | 14,700 | |
Obligation to return securities received as collateral, financial instruments | 6,700 | 13,000 | |
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 | 600 | 1,700 | |
Total financial liabilities subject to enforceable master netting agreements, net | 35,900 | 52,000 | |
Total financial liabilities subject to enforceable master netting agreements, financial instruments | 25,700 | 45,100 | |
Total financial liabilities subject to enforceable master netting agreements, cash collateral received/pledged | 200 | 100 | |
Total financial liabilities subject to enforceable master netting agreements, net exposure | 10,000 | 6,800 | |
Trading liabilities | |||
Offsetting of derivatives | |||
Total net derivatives presented in the consolidated balance sheets | 15,700 | 10,600 | |
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 | (14,300) | (16,600) | |
Total, gross | 35,900 | 51,900 | |
Total, net | 21,600 | 35,300 | |
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 | 7,400 | 15,000 | |
Total, net | 7,400 | 15,000 | |
OTC-cleared | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 15,700 | 5,600 | |
Offsetting | (15,300) | (5,300) | |
Total net derivatives subject to enforceable master netting agreements | 400 | 300 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 400 | 300 | |
OTC | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 70,200 | 80,100 | |
Offsetting | (62,300) | (74,600) | |
Total net derivatives subject to enforceable master netting agreements | 7,900 | 5,500 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 7,900 | 5,500 | |
Exchange-traded | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 25,200 | 21,500 | |
Offsetting | (22,200) | (21,000) | |
Total net derivatives subject to enforceable master netting agreements | 3,000 | 500 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 3,000 | 500 | |
Interest rate derivatives | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 41,700 | 44,300 | |
Interest rate derivatives | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 14,800 | 4,000 | |
Interest rate derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 26,900 | 40,300 | |
Interest rate derivatives | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 0 | 0 | |
Foreign exchange derivatives | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 30,300 | 22,200 | |
Foreign exchange derivatives | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 500 | 200 | |
Foreign exchange derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 29,800 | 22,000 | |
Foreign exchange derivatives | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 0 | 0 | |
Equity/index-related derivatives | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 34,500 | 34,400 | |
Equity/index-related derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 9,400 | 13,000 | |
Equity/index-related derivatives | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 25,100 | 21,400 | |
Credit derivatives | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 3,900 | 5,700 | |
Credit derivatives | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 400 | 1,400 | |
Credit derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 3,500 | 4,300 | |
Other products | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 700 | 600 | |
Other products | OTC | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 600 | 500 | |
Other products | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 100 | 100 | |
Bank | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 111,100 | 107,200 | |
Offsetting | (99,800) | (100,900) | |
of which counterparty netting | (84,400) | (83,000) | |
of which cash collateral netting | (15,400) | (17,900) | |
Total net derivatives subject to enforceable master netting agreements | 11,300 | 6,300 | |
Total derivatives not subject to enforceable master netting agreements | 4,400 | 4,300 | |
Total net derivatives presented in the consolidated balance sheets | 15,700 | 10,600 | |
Offsetting of securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral | |||
Securities sold under repurchase agreements, gross | 31,100 | 32,300 | |
Securities sold under repurchase agreements, offsetting | (14,300) | (16,600) | |
Securities sold under repurchase agreements, net | 16,800 | 15,700 | |
Securities lending transactions, gross | 600 | 15,400 | |
Securities lending transactions, offsetting | 0 | 0 | |
Securities lending transactions, net | 600 | 15,400 | |
Obligation to return securities received as collateral, at fair value, gross | 7,300 | 14,700 | |
Obligation to return securities received as collateral, at fair value, offsetting | 0 | 0 | |
Obligation to return securities received as collateral, at fair value, net | 7,300 | 14,700 | |
Total subject to enforceable master netting agreements, gross | 39,000 | 62,400 | |
Total subject to enforceable master netting agreements, offsetting | (14,300) | (16,600) | |
Total subject to enforceable master netting agreements, net | 24,700 | 45,800 | |
Total not subject to enforceable master netting agreements | 4,400 | 4,600 | |
Total, gross | 43,400 | 67,000 | |
Total, net | 29,100 | 50,400 | |
of which reported at fair value | 14,239 | 13,307 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 11,300 | 6,300 | |
Derivatives, financial instruments | 1,900 | 1,300 | |
Derivatives, cash collateral received/pledged | 0 | 0 | |
Derivatives, net exposure | 9,400 | 5,000 | |
Securities sold under repurchase agreements, net | 16,800 | 15,700 | |
Securities sold under repurchase agreements, financial instruments | 16,600 | 15,600 | |
Securities sold under repurchase agreements, cash collateral received/pledged | 200 | 100 | |
Securities sold under repurchase agreements, net exposure | 0 | 0 | |
Securities lending transactions, net | 600 | 15,400 | |
Securities lending transactions, financial instruments | 600 | 15,300 | |
Securities lending transactions, cash collateral received/pledged | 0 | 0 | |
Securities lending transactions, net exposure | 0 | 100 | |
Obligation to return securities received as collateral, at fair value, net | 7,300 | 14,700 | |
Obligation to return securities received as collateral, financial instruments | 6,700 | 13,000 | |
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 | 600 | 1,700 | |
Total financial liabilities subject to enforceable master netting agreements, net | 36,000 | 52,100 | |
Total financial liabilities subject to enforceable master netting agreements, financial instruments | 25,800 | 45,200 | |
Total financial liabilities subject to enforceable master netting agreements, cash collateral received/pledged | 200 | 100 | |
Total financial liabilities subject to enforceable master netting agreements, net exposure | 10,000 | 6,800 | |
Bank | Trading liabilities | |||
Offsetting of derivatives | |||
Total net derivatives presented in the consolidated balance sheets | 15,700 | 10,600 | |
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 | (14,300) | (16,600) | |
Total, gross | 36,000 | 52,000 | |
Total, net | 21,700 | 35,400 | |
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 | 7,400 | 15,000 | |
Total, net | 7,400 | 15,000 | |
Bank | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 15,700 | 5,600 | |
Offsetting | (15,300) | (5,300) | |
Total net derivatives subject to enforceable master netting agreements | 400 | 300 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 400 | 300 | |
Bank | OTC | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 70,200 | 80,100 | |
Offsetting | (62,300) | (74,600) | |
Total net derivatives subject to enforceable master netting agreements | 7,900 | 5,500 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 7,900 | 5,500 | |
Bank | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 25,200 | 21,500 | |
Offsetting | (22,200) | (21,000) | |
Total net derivatives subject to enforceable master netting agreements | 3,000 | 500 | |
Amounts not offset in the consolidated balance sheets | |||
Derivatives, net | 3,000 | 500 | |
Bank | Interest rate derivatives | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 41,700 | 44,300 | |
Bank | Interest rate derivatives | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 14,800 | 4,000 | |
Bank | Interest rate derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 26,900 | 40,300 | |
Bank | Interest rate derivatives | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 0 | 0 | |
Bank | Foreign exchange derivatives | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 30,300 | 22,200 | |
Bank | Foreign exchange derivatives | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 500 | 200 | |
Bank | Foreign exchange derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 29,800 | 22,000 | |
Bank | Foreign exchange derivatives | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 0 | 0 | |
Bank | Equity/index-related derivatives | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 34,500 | 34,400 | |
Bank | Equity/index-related derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 9,400 | 13,000 | |
Bank | Equity/index-related derivatives | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 25,100 | 21,400 | |
Bank | Credit derivatives | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 3,900 | 5,700 | |
Bank | Credit derivatives | OTC-cleared | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 400 | 1,400 | |
Bank | Credit derivatives | OTC | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 3,500 | 4,300 | |
Bank | Other products | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 700 | 600 | |
Bank | Other products | OTC | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | 600 | 500 | |
Bank | Other products | Exchange-traded | |||
Offsetting of derivatives | |||
Derivative liabilities, gross, subject to enforceable master netting agreements | SFr 100 | SFr 100 |
Tax - Income statement related_
Tax - Income statement related/reconciliation of tax rate (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Income from continuing operations before taxes (CHF) | |||||
Income/(loss) before taxes | SFr (1,173) | SFr (428) | SFr 813 | SFr (1,601) | SFr 56 |
Current and deferred taxes | |||||
Deferred income tax expense | (23) | (302) | |||
Income tax expense | 419 | (151) | 566 | 268 | 40 |
Reconciliation of taxes computed at the Swiss statutory rate | |||||
Income tax expense computed at the statutory tax rate | SFr (217) | ||||
Swiss statutory rate (as a percent) | 18.50% | ||||
Increase/(decrease) in income taxes resulting from: | |||||
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Amount | SFr (37) | ||||
Other non-deductible expenses | 142 | ||||
of which non-deductible interest expenses | 53 | ||||
Lower taxed income | (31) | ||||
of which tax benefit in respect to non-taxable dividend income | 17 | ||||
of which tax benefit related non-taxable life insurance income | 12 | ||||
(Income)/loss taxable to non-controlling interests | (2) | ||||
Changes in deferred tax valuation allowance | 142 | ||||
(Windfall tax benefits)/shortfall tax charges on share-based compensation | 51 | ||||
Change in accounting estimate | 350 | ||||
Other | 17 | ||||
of which tax expense relating to non-recoverable foreign and withholding taxes | (26) | ||||
of which tax benefit from accrual adjustment | 6 | ||||
of which tax expense from own-credit revaluation gains | 3 | ||||
of which tax impact of transitional adjustments arising from adoption of new accounting standards | 10 | ||||
of which tax impact of the US Base Erosion and Anti-abuse Tax (BEAT), for 2021 | 26 | ||||
of which non-deductible fines and penalties | 89 | ||||
Income tax expense | SFr 419 | SFr (151) | SFr 566 | 268 | 40 |
Bank | |||||
Income from continuing operations before taxes (CHF) | |||||
Income/(loss) before taxes | (1,754) | 15 | |||
Current and deferred taxes | |||||
Deferred income tax expense | (48) | (322) | |||
Income tax expense | 221 | 6 | |||
Reconciliation of taxes computed at the Swiss statutory rate | |||||
Income tax expense computed at the statutory tax rate | SFr (324) | ||||
Swiss statutory rate (as a percent) | 18.50% | ||||
Increase/(decrease) in income taxes resulting from: | |||||
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Amount | SFr 18 | ||||
Changes in tax law and rates | 17 | ||||
Other non-deductible expenses | 253 | ||||
of which non-deductible interest expenses and share-based compensation cost | 96 | ||||
of which non-deductible expenses or non-deductible provision accruals | 157 | ||||
Lower taxed income | (67) | ||||
of which tax benefit in respect to non-taxable dividend income | 41 | ||||
of which tax benefit related non-taxable life insurance income | 23 | ||||
Changes in deferred tax valuation allowance | 250 | ||||
(Windfall tax benefits)/shortfall tax charges on share-based compensation | 61 | ||||
Other | 13 | ||||
of which tax expense relating to non-recoverable foreign and withholding taxes | 5 | ||||
of which tax benefit from accrual adjustment | 12 | ||||
of which tax (benefit)/charge from the impact of prior year adjustments | (20) | ||||
of which tax impact of transitional adjustments arising from adoption of new accounting standards | 22 | ||||
of which tax impact of the US Base Erosion and Anti-abuse Tax (BEAT), for 2020 | 31 | ||||
of which tax impact of the reversal of previously unrecognized tax benefits | (30) | ||||
Income tax expense | 221 | SFr 6 | |||
Bank | UK | |||||
Increase/(decrease) in income taxes resulting from: | |||||
of which tax rate change | SFr 17 |
Tax - Balance sheet related (De
Tax - Balance sheet related (Details 2) - CHF (SFr) SFr in Millions | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
Tax effect of temporary differences | |||
Net operating loss carry-forwards, after allocation of valuation allowances | SFr 1,124 | SFr 1,307 | |
Net deferred tax assets | 2,824 | SFr 3,259 | |
Bank | |||
Tax effect of temporary differences | |||
Net operating loss carry-forwards, after allocation of valuation allowances | 1,121 | SFr 877 | |
Net deferred tax assets | SFr 3,467 | SFr 3,544 |
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, 2022 | Mar. 31, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Net deferred tax assets | ||||||
Deferred tax assets | SFr 3,867 | SFr 4,052 | SFr 3,867 | SFr 3,707 | ||
Net operating loss carry-forwards, after allocation of valuation allowances | 1,124 | 1,307 | 1,124 | |||
Temporary differences | 2,743 | 2,745 | 2,743 | |||
Deferred tax liabilities | 1,043 | 793 | 1,043 | 754 | ||
Deferred Tax Assets (Liabilities), Net | 2,824 | SFr 3,259 | 2,824 | |||
Accumulated undistributed earnings from foreign subsidiaries | SFr 20,100 | SFr 20,100 | ||||
Effective tax rate | ||||||
Effective tax rate (as a percent) | (35.70%) | 35.30% | 69.60% | (16.70%) | 71.40% | |
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 | 164 | 164 | ||||
Bank | ||||||
Net deferred tax assets | ||||||
Deferred tax assets | 3,825 | 3,825 | 3,666 | |||
Net operating loss carry-forwards, after allocation of valuation allowances | 1,121 | 1,121 | 877 | |||
Temporary differences | 2,704 | 2,704 | 2,789 | |||
Deferred tax liabilities | 358 | 358 | 122 | |||
Deferred Tax Assets (Liabilities), Net | 3,467 | 3,467 | SFr 3,544 | |||
Accumulated undistributed earnings from foreign subsidiaries | 19,600 | SFr 19,600 | ||||
Effective tax rate | ||||||
Effective tax rate (as a percent) | (12.60%) | 40% | ||||
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 164 | SFr 164 |
Deferred compensation expense (
Deferred compensation expense (Details) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | SFr 424 | SFr 368 | SFr 464 | SFr 792 | SFr 830 |
Deferred cash awards | |||||
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | 199 | 102 | 102 | 301 | 151 |
Retention Awards | |||||
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | 33 | 30 | 26 | 63 | 39 |
Contingent Capital Awards (CCA) | |||||
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | (9) | 34 | 83 | 25 | 144 |
Strategic Delivery Plan | |||||
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | 69 | 53 | 122 | ||
Performance shares | Performance share awards | |||||
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | 47 | 55 | 111 | 102 | 220 |
Stock compensation plan | Share awards | |||||
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | SFr 85 | SFr 94 | SFr 142 | 179 | 276 |
Bank | |||||
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | 758 | 827 | |||
Bank | Deferred cash awards | |||||
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | 291 | 169 | |||
Bank | Retention Awards | |||||
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | 61 | 39 | |||
Bank | Contingent Capital Awards (CCA) | |||||
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | 24 | 140 | |||
Bank | Strategic Delivery Plan | |||||
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | 116 | ||||
Bank | Performance shares | Performance share awards | |||||
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | 95 | 213 | |||
Bank | Stock compensation plan | Share awards | |||||
Deferred compensation expense | |||||
Total compensation expense relating to deferred compensation | SFr 171 | SFr 266 |
Estimated unrecognized deferred
Estimated unrecognized deferred compensation (Details 2) SFr in Millions | 3 Months Ended | 6 Months Ended |
Jun. 30, 2022 CHF (SFr) | Jun. 30, 2022 CHF (SFr) | |
Estimated unrecognized compensation expense | ||
Total estimated unrecognized compensation expense | SFr 2,316 | SFr 2,316 |
Aggregate remaining weighted-average requisite service period (years) | ||
Aggregate remaining requisite service period (in years) | 1 year 3 months 18 days | |
Deferred cash awards | ||
Estimated unrecognized compensation expense | ||
Total estimated unrecognized compensation expense | SFr 986 | 986 |
Retention Awards | ||
Estimated unrecognized compensation expense | ||
Total estimated unrecognized compensation expense | 206 | 206 |
Contingent Capital Awards (CCA) | ||
Estimated unrecognized compensation expense | ||
Total estimated unrecognized compensation expense | 130 | 130 |
Strategic Delivery Plan | ||
Estimated unrecognized compensation expense | ||
Total estimated unrecognized compensation expense | 436 | 436 |
Performance shares | Performance share awards | ||
Estimated unrecognized compensation expense | ||
Total estimated unrecognized compensation expense | 173 | 173 |
Stock compensation plan | Share awards | ||
Estimated unrecognized compensation expense | ||
Total estimated unrecognized compensation expense | 385 | 385 |
Bank | ||
Estimated unrecognized compensation expense | ||
Total estimated unrecognized compensation expense | 2,227 | SFr 2,227 |
Aggregate remaining weighted-average requisite service period (years) | ||
Aggregate remaining requisite service period (in years) | 1 year 3 months 18 days | |
Bank | Deferred cash awards | ||
Estimated unrecognized compensation expense | ||
Total estimated unrecognized compensation expense | 953 | SFr 953 |
Bank | Retention Awards | ||
Estimated unrecognized compensation expense | ||
Total estimated unrecognized compensation expense | 203 | 203 |
Bank | Contingent Capital Awards (CCA) | ||
Estimated unrecognized compensation expense | ||
Total estimated unrecognized compensation expense | 124 | 124 |
Bank | Strategic Delivery Plan | ||
Estimated unrecognized compensation expense | ||
Total estimated unrecognized compensation expense | 413 | 413 |
Bank | Performance shares | Performance share awards | ||
Estimated unrecognized compensation expense | ||
Total estimated unrecognized compensation expense | 165 | 165 |
Bank | Stock compensation plan | Share awards | ||
Estimated unrecognized compensation expense | ||
Total estimated unrecognized compensation expense | SFr 369 | SFr 369 |
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, 2022 | Jun. 30, 2022 | Jun. 30, 2021 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total estimated unrecognized compensation expense | SFr 2,316 | SFr 2,316 | |
Strategic Delivery Plan | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total estimated unrecognized compensation expense | 436 | 436 | |
Performance shares | Performance share awards | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total estimated unrecognized compensation expense | SFr 173 | SFr 173 | |
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 | 90 | 77.2 | |
Granted (in shares) | 0 | 19.1 | |
Settled (in shares) | (25.1) | (30.2) | |
Forfeited (in shares) | (0.6) | (1.8) | |
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Ending Balance | 64.3 | 64.3 | |
of which vested (in shares) | 10.6 | 10.6 | 10.6 |
of which unvested (in shares) | 53.7 | 53.7 | 53.7 |
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 385 | SFr 385 | |
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 | 170.8 | 143.8 | |
Granted (in shares) | 4.7 | 39.2 | |
Settled (in shares) | (45.2) | (50) | |
Forfeited (in shares) | (2.5) | (5.2) | |
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Ending Balance | 127.8 | 127.8 | |
of which vested (in shares) | 17.6 | 17.6 | 17.6 |
of which unvested (in shares) | 110.2 | 110.2 | 110.2 |
Stock compensation plan | Strategic Delivery Plan | |||
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 | 62.6 | 0 | |
Granted (in shares) | 0 | 62.6 | |
Settled (in shares) | 0 | 0 | |
Forfeited (in shares) | (0.5) | (0.5) | |
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Ending Balance | 62.1 | 62.1 | |
of which vested (in shares) | 1.1 | 1.1 | 1.1 |
of which unvested (in shares) | 61 | 61 | 61 |
Bank | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total estimated unrecognized compensation expense | SFr 2,227 | SFr 2,227 | |
Bank | Strategic Delivery Plan | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total estimated unrecognized compensation expense | 413 | SFr 413 | |
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 6M22, the Bank granted 18.3 million performance share awards at a weighted-average share price of CHF 8.36. 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 165 | SFr 165 | |
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 8.36 | ||
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 | 73.8 | ||
Granted (in shares) | 18.3 | ||
Settled (in shares) | (29) | ||
Forfeited (in shares) | (1.8) | ||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Ending Balance | 61.3 | 61.3 | |
of which vested (in shares) | 9.9 | 9.9 | |
of which unvested (in shares) | 51.4 | 51.4 | |
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 6M22, the Bank granted 36.3 million share awards at a weighted-average share price of CHF 8.19. 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 material risk takers (MRTs), risk managers MRTs or senior managers or equivalent under the EU or UK Capital Requirements Directive V related provisions. As of February 2022, share awards granted to MRTs vest over four years with one quarter of the award vesting on each of the four anniversaries of the grant date. Share awards granted to risk manager MRTs vest over five years with one fifth of the award vesting on each of the five anniversaries of the grant date. Share awards granted to senior managers vest over seven years, 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 369 | SFr 369 | |
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 8.19 | ||
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 | 135.3 | ||
Granted (in shares) | 36.3 | ||
Settled (in shares) | (47) | ||
Forfeited (in shares) | (5.3) | ||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Ending Balance | 119.3 | 119.3 | |
of which vested (in shares) | 15.6 | 15.6 | |
of which unvested (in shares) | 103.7 | 103.7 | |
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 | 4 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 | Share awards | Risk manager MRTs | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting period | 5 years | ||
Bank | Stock compensation plan | Strategic Delivery Plan | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Terms of Award | In 6M22, the Bank granted 59.4 million SDP deferred share-based awards at a weighted-average share price of CHF 8.50 to most managing directors and directors to incentivize the longer-term delivery of the Group’s strategic plan. Each SDP share award granted entitles the holder of the award to receive one Group share, subject to service conditions and performance-based metrics over the course of 2022-2024. SDP awards are scheduled to vest on the third anniversary of the grant date, with the exception of awards granted to individuals classified as MRTs, risk manager MRTs or senior managers or equivalents under the EU or UK Capital Requirements Directive V related provisions. SDP awards granted to MRTs vest in equal annual installments over two years, commencing on the third anniversary from the grant date. SDP awards granted to risk manager MRTs vest in equal annual installments over three years, while SDP awards granted to senior managers vest in equal annual installments over five years, both commencing on the third anniversary from the grant date. In addition, the Compensation Committee will review and assess the overall success of the delivery of the strategic plan at a Group level over the three-year period (2022-2024) and may increase the SDP awards up to a maximum of 50% of the initial award amount. | ||
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 8.50 | ||
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 | 0 | ||
Granted (in shares) | 59.4 | ||
Settled (in shares) | 0 | ||
Forfeited (in shares) | (0.6) | ||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Ending Balance | 58.8 | 58.8 | |
of which vested (in shares) | 1 | 1 | |
of which unvested (in shares) | 57.8 | 57.8 | |
Bank | Stock compensation plan | Strategic Delivery Plan | Cliff vesting [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting period | 3 years |
Cash-based awards (Details 5)
Cash-based awards (Details 5) SFr in Millions | 6 Months Ended |
Jun. 30, 2022 CHF (SFr) | |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |
Estimated unrecognized compensation expense | SFr 2,316 |
Contingent Capital Awards (CCA) | |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |
Estimated unrecognized compensation expense | 130 |
Bank | |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |
Estimated unrecognized compensation expense | SFr 2,227 |
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 6M22, the Bank awarded CHF 71 million of CCA. CCA are scheduled to vest on the third anniversary of the grant date, other than those granted to individuals classified as MRTs, risk manager MRTs or senior managers or equivalents under the EU or UK Capital Requirements Directive V related provisions. As of February 2022, CCA granted to MRTs, risk manager MRTs and senior managers vest on the fourth, 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 71 |
Estimated unrecognized compensation expense | SFr 124 |
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 | 4 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 | Contingent Capital Awards (CCA) | Risk manager MRTs | 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 |
Other variable compensation (De
Other variable compensation (Details 6) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Sep. 30, 2022 | |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | ||||||
Compensation expense relating to deferred compensation | SFr 424 | SFr 368 | SFr 464 | SFr 792 | SFr 830 | |
Estimated unrecognized compensation expense | SFr 2,316 | 2,316 | ||||
Retention Awards | ||||||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | ||||||
Deferred Compensation Arrangement with Individual, Description | In 2Q22, the Group granted deferred cash and share retention awards of CHF 12 million, mainly in the Investment Bank division and corporate functions. These awards will be expensed over the applicable vesting period from the grant date. Amortization of retention awards in 2Q22 totaled CHF 33 million, of which CHF 2 million was related to awards granted in 2Q22. 3Q22 to date, the Group granted deferred cash and share retention awards of CHF 289 million to certain employees in the Investment Bank division. This compensation will be expensed in the Investment Bank division over a three-year vesting period from the grant date. | |||||
Compensation expense relating to deferred compensation | SFr 33 | 30 | 26 | 63 | 39 | |
Estimated unrecognized compensation expense | 206 | 206 | ||||
Deferred cash retention awards | ||||||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | ||||||
Deferred Compensation Arrangement with Individual, Cash Award Granted, Amount | 12 | 12 | SFr 289 | |||
Compensation expense relating to deferred compensation | 33 | |||||
Compensation expense relating to deferred compensation, of which granted in current year | SFr 2 | |||||
Deferred cash awards | ||||||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | ||||||
Deferred Compensation Arrangement with Individual, Description | In 2Q22, the Group granted deferred fixed cash compensation of CHF 207 million to certain employees in the Americas and Asia Pacific. This compensation will be expensed in the Investment Bank division over a three-year vesting period from the grant date. Amortization of deferred fixed cash compensation in 2Q22 totaled CHF 85 million, of which CHF 54 million was related to awards granted in 2Q22. 3Q22 to date, the Group granted deferred fixed cash compensation of up to CHF 40 million to certain employees in the Wealth Management division. This compensation will be expensed in the Wealth Management division over a three-year vesting period from the grant date. Retention awards | |||||
Compensation expense relating to deferred compensation | SFr 199 | SFr 102 | SFr 102 | 301 | 151 | |
Estimated unrecognized compensation expense | 986 | 986 | ||||
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 | 207 | 207 | ||||
Compensation expense relating to deferred compensation | 85 | |||||
Compensation expense relating to deferred compensation, of which granted in current year | SFr 54 | |||||
Deferred fixed cash awards | Subsequent Event | ||||||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | ||||||
Deferred Compensation Arrangement with Individual, Cash Award Granted, Amount | 40 | |||||
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, 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 | 758 | 827 | ||||
Estimated unrecognized compensation expense | SFr 2,227 | SFr 2,227 | ||||
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, Maximum Contractual Term | 3 years | |||||
Bank | Retention Awards | ||||||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | ||||||
Deferred Compensation Arrangement with Individual, Description | In 6M22, the Bank granted deferred cash and share retention awards of CHF 53 million, mainly in the Investment Bank division. These awards will be expensed over the applicable vesting period from the grant date. Amortization of retention awards in 6M22 totaled CHF 61 million, of which CHF 5 million was related to awards granted in 6M22. 3Q22 to date, the Bank granted deferred cash and share retention awards of CHF 289 million to certain employees in the Investment Bank division. This compensation will be expensed in the Investment Bank division over a three-year vesting period from the grant date. | |||||
Compensation expense relating to deferred compensation | SFr 61 | 39 | ||||
Estimated unrecognized compensation expense | 203 | SFr 203 | ||||
Bank | Upfront cash award | ||||||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | ||||||
Deferred Compensation Arrangement with Individual, Description | In 6M22, the Bank granted upfront cash awards of CHF 797 million to certain managing directors and directors as part of their 2021 variable compensation. Amortization of upfront cash awards in 6M22 totaled CHF 178 million, of which CHF 160 million was related to awards granted in 6M22. | |||||
Deferred Compensation Arrangement with Individual, Cash Award Granted, Amount | 797 | SFr 797 | ||||
Compensation expense relating to deferred compensation | 178 | |||||
Compensation expense relating to deferred compensation, of which granted in current year | 160 | |||||
Bank | Deferred cash retention awards | ||||||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | ||||||
Deferred Compensation Arrangement with Individual, Cash Award Granted, Amount | 53 | 53 | 289 | |||
Compensation expense relating to deferred compensation | 61 | |||||
Compensation expense relating to deferred compensation, of which granted in current year | SFr 5 | |||||
Bank | Deferred cash awards | ||||||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | ||||||
Deferred Compensation Arrangement with Individual, Description | In 6M22, the Bank granted deferred fixed cash compensation of CHF 213 million to certain employees in the Americas and Asia Pacific. This compensation will be expensed in the Investment Bank division over a three-year vesting period from the grant date. Amortization of deferred fixed cash awards in 6M22 totaled CHF 102 million, of which CHF 56 million was related to awards granted in 6M22. 3Q22 to date, the Bank granted deferred fixed cash compensation of up to CHF 40 million to certain employees in the Wealth Management division. This compensation will be expensed in the Wealth Management division over a three-year vesting period from the grant date. Upfront cash awards | |||||
Compensation expense relating to deferred compensation | SFr 291 | SFr 169 | ||||
Estimated unrecognized compensation expense | 953 | 953 | ||||
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 213 | 213 | SFr 40 | |||
Compensation expense relating to deferred compensation | 102 | |||||
Compensation expense relating to deferred compensation, of which granted in current year | SFr 56 |
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, 2022 | Mar. 31, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Total benefit costs | ||||||
Service costs on benefit obligation | SFr 65 | SFr 65 | SFr 60 | SFr 130 | SFr 120 | |
Interest costs on benefit obligation | 25 | 25 | 15 | 50 | 30 | |
Expected return on plan assets | (126) | (126) | (120) | (252) | (243) | |
Amortization of recognized prior service cost/(credit) | (22) | (21) | (31) | (43) | (60) | |
Amortization of recognized actuarial losses/(gains) | 72 | 73 | 93 | 145 | 186 | |
Settlement losses/(gains) | 2 | 3 | 2 | 5 | (8) | |
Curtailment losses/(gains) | 0 | 0 | 2 | 0 | 1 | |
Special termination benefits | 1 | 1 | 3 | 2 | 13 | |
Net periodic benefit/(costs) | 17 | 20 | 24 | 37 | 39 | |
PBO | ||||||
Service costs | 65 | 65 | 60 | 130 | 120 | |
Interest costs | 25 | 25 | 15 | 50 | 30 | |
Total amount recognized | ||||||
Noncurrent assets | 4,376 | 4,306 | 4,376 | SFr 4,215 | ||
Pension and Other Postretirement Benefit Contributions | ||||||
Contributions expected to be made by the company by the end of the current fiscal year | 284 | 284 | ||||
Contributions made to defined benefit pension plans and other post-retirement defined benefit plans | 147 | |||||
Defined benefit and defined contribution | ||||||
Total benefit costs | ||||||
Service costs on benefit obligation | 131 | 128 | 120 | 259 | 250 | |
PBO | ||||||
Service costs | 131 | SFr 128 | SFr 120 | 259 | 250 | |
Bank | ||||||
Total amount recognized | ||||||
Noncurrent assets | 924 | 924 | SFr 974 | |||
Bank | Defined benefit and defined contribution | ||||||
Total benefit costs | ||||||
Service costs on benefit obligation | 230 | 250 | ||||
PBO | ||||||
Service costs | 230 | 250 | ||||
Bank | International | ||||||
Total benefit costs | ||||||
Service costs on benefit obligation | 8 | 7 | ||||
Interest costs on benefit obligation | 30 | 25 | ||||
Expected return on plan assets | (33) | (34) | ||||
Amortization of recognized prior service cost/(credit) | 1 | 1 | ||||
Amortization of recognized actuarial losses/(gains) | 5 | 8 | ||||
Settlement losses/(gains) | 0 | (10) | ||||
Net periodic benefit/(costs) | 11 | (3) | ||||
PBO | ||||||
Service costs | 8 | 7 | ||||
Interest costs | 30 | SFr 25 | ||||
Bank | International | Defined benefit pension plans | ||||||
Pension and Other Postretirement Benefit Contributions | ||||||
Contributions expected to be made by the company by the end of the current fiscal year | 14 | 14 | ||||
Contributions made to defined benefit pension plans and other post-retirement defined benefit plans | 7 | |||||
Bank | International | Other post-retirement defined benefit plans | ||||||
Pension and Other Postretirement Benefit Contributions | ||||||
Contributions expected to be made by the company by the end of the current fiscal year | SFr 11 | 11 | ||||
Contributions made to defined benefit pension plans and other post-retirement defined benefit plans | SFr 5 |
Pension and other post-retire_4
Pension and other post-retirement benefits - Contributions (Details 7) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Defined Contribution Pension and Other Postretirement Plans Disclosure | |||||
Contributions made by the Entity to defined contribution pension plans | SFr 66 | SFr 63 | SFr 60 | SFr 129 | SFr 130 |
Bank | |||||
Defined Contribution Pension and Other Postretirement Plans Disclosure | |||||
Contributions made by the Entity to defined contribution pension plans | SFr 222 | SFr 243 |
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, 2022 | Mar. 31, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Actuarial gains/(losses) | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
OCI, before Reclassifications, Net of Tax, Attributable to Parent | SFr 1 | SFr (1) | SFr (89) | SFr 0 | SFr (92) |
Net prior service credit/ (cost) | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
OCI, before Reclassifications, Net of Tax, Attributable to Parent | SFr 0 | SFr 0 | SFr 0 | 0 | 0 |
Bank | Actuarial gains/(losses) | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
OCI, before Reclassifications, Net of Tax, Attributable to Parent | 0 | (85) | |||
Bank | Net prior service credit/ (cost) | |||||
Increase (Decrease) in Accumulated other Comprehensive Income | |||||
OCI, before Reclassifications, Net of Tax, Attributable to Parent | SFr (1) | SFr (1) |
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, 2022 | Dec. 31, 2021 | |
Fair value of derivative instruments | ||
Notional amount | SFr 15,032.2 | SFr 14,760.3 |
Positive replacement value (PRV) | 111.1 | 112.8 |
Negative replacement value (NRV) | SFr 115.5 | 111.5 |
Cash flow hedges | ||
Maximum Length of Time Hedged in Cash Flow Hedge | 12 months | |
Not designated for hedge accounting | ||
Fair value of derivative instruments | ||
Notional amount | SFr 14,889.9 | 14,607.8 |
Positive replacement value (PRV) | 110.6 | 112.3 |
Negative replacement value (NRV) | 113.5 | 111.2 |
Not designated for hedge accounting | Interest rate derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 12,018.1 | 11,541.1 |
Positive replacement value (PRV) | 43.6 | 49.3 |
Negative replacement value (NRV) | 41.5 | 44.8 |
Not designated for hedge accounting | Interest rate derivatives | Forwards and forward rate agreements | ||
Fair value of derivative instruments | ||
Notional amount | 2,133.5 | 1,736 |
Positive replacement value (PRV) | 4.4 | 0.9 |
Negative replacement value (NRV) | 4.3 | 0.9 |
Not designated for hedge accounting | Interest rate derivatives | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 8,950.3 | 8,810 |
Positive replacement value (PRV) | 30.9 | 36.8 |
Negative replacement value (NRV) | 28.9 | 33 |
Not designated for hedge accounting | Interest rate derivatives | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 737.8 | 779 |
Positive replacement value (PRV) | 8.3 | 11.5 |
Negative replacement value (NRV) | 8.3 | 10.9 |
Not designated for hedge accounting | Interest rate derivatives | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 172 | 144.5 |
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 | 24.5 | 71.6 |
Positive replacement value (PRV) | 0 | 0.1 |
Negative replacement value (NRV) | 0 | 0 |
Not designated for hedge accounting | Foreign exchange derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 1,565.5 | 1,585 |
Positive replacement value (PRV) | 30.9 | 20.9 |
Negative replacement value (NRV) | 31 | 22.8 |
Not designated for hedge accounting | Foreign exchange derivatives | Forwards | ||
Fair value of derivative instruments | ||
Notional amount | 1,027.6 | 1,052.9 |
Positive replacement value (PRV) | 13.5 | 7.6 |
Negative replacement value (NRV) | 14 | 8.2 |
Not designated for hedge accounting | Foreign exchange derivatives | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 343.8 | 345.3 |
Positive replacement value (PRV) | 14.3 | 11.3 |
Negative replacement value (NRV) | 14 | 12.4 |
Not designated for hedge accounting | Foreign exchange derivatives | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 181.8 | 174.9 |
Positive replacement value (PRV) | 3.1 | 2 |
Negative replacement value (NRV) | 3 | 2.2 |
Not designated for hedge accounting | Foreign exchange derivatives | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 10 | 10.3 |
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 | 2.3 | 1.6 |
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 | 434.4 | 506.8 |
Positive replacement value (PRV) | 3.4 | 5 |
Negative replacement value (NRV) | 4.3 | 6.3 |
Not designated for hedge accounting | Equity/index-related derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 817.5 | 921.6 |
Positive replacement value (PRV) | 31.2 | 35.5 |
Negative replacement value (NRV) | 35.9 | 36.6 |
Not designated for hedge accounting | Equity/index-related derivatives | Forwards | ||
Fair value of derivative instruments | ||
Notional amount | 0.8 | 0.9 |
Positive replacement value (PRV) | 0 | 0.1 |
Negative replacement value (NRV) | 0 | 0 |
Not designated for hedge accounting | Equity/index-related derivatives | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 57.9 | 94.7 |
Positive replacement value (PRV) | 2.4 | 1.4 |
Negative replacement value (NRV) | 2.2 | 2.6 |
Not designated for hedge accounting | Equity/index-related derivatives | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 223.2 | 243.9 |
Positive replacement value (PRV) | 7 | 11.1 |
Negative replacement value (NRV) | 8.5 | 12.5 |
Not designated for hedge accounting | Equity/index-related derivatives | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 46.9 | 46.3 |
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 | 488.7 | 535.8 |
Positive replacement value (PRV) | 21.8 | 22.9 |
Negative replacement value (NRV) | 25.2 | 21.5 |
Not designated for hedge accounting | Other products | ||
Fair value of derivative instruments | ||
Notional amount | 54.4 | 53.3 |
Positive replacement value (PRV) | 1.5 | 1.6 |
Negative replacement value (NRV) | 0.8 | 0.7 |
Not designated for hedge accounting | Other products | Forwards | ||
Fair value of derivative instruments | ||
Notional amount | 10.7 | 9.9 |
Positive replacement value (PRV) | 0.1 | 0.2 |
Negative replacement value (NRV) | 0.1 | 0.1 |
Not designated for hedge accounting | Other products | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 12.5 | 12 |
Positive replacement value (PRV) | 1 | 1.1 |
Negative replacement value (NRV) | 0.6 | 0.4 |
Not designated for hedge accounting | Other products | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 12 | 11.1 |
Positive replacement value (PRV) | 0.3 | 0.2 |
Negative replacement value (NRV) | 0.1 | 0.1 |
Not designated for hedge accounting | Other products | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 10.6 | 11.1 |
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 | 8.6 | 9.2 |
Positive replacement value (PRV) | 0.1 | 0.1 |
Negative replacement value (NRV) | 0 | 0.1 |
Designated for hedge accounting | ||
Fair value of derivative instruments | ||
Notional amount | 142.3 | 152.5 |
Positive replacement value (PRV) | 0.5 | 0.5 |
Negative replacement value (NRV) | 2 | 0.3 |
Designated for hedge accounting | Interest rate derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 122.7 | 131.4 |
Positive replacement value (PRV) | 0.1 | 0.4 |
Negative replacement value (NRV) | 1.8 | 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 | 122.7 | 131.4 |
Positive replacement value (PRV) | 0.1 | 0.4 |
Negative replacement value (NRV) | 1.8 | 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 | 19.6 | 21.1 |
Positive replacement value (PRV) | 0.4 | 0.1 |
Negative replacement value (NRV) | 0.2 | 0.1 |
Designated for hedge accounting | Foreign exchange derivatives | Forwards | ||
Fair value of derivative instruments | ||
Notional amount | 19.6 | 21.1 |
Positive replacement value (PRV) | 0.4 | 0.1 |
Negative replacement value (NRV) | 0.2 | 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 | 15,037.1 | 14,765.2 |
Positive replacement value (PRV) | 111.7 | 112.9 |
Negative replacement value (NRV) | SFr 115.5 | 111.5 |
Cash flow hedges | ||
Maximum Length of Time Hedged in Cash Flow Hedge | 12 months | |
Bank | Not designated for hedge accounting | ||
Fair value of derivative instruments | ||
Notional amount | SFr 14,898.8 | 14,616.6 |
Positive replacement value (PRV) | 111.2 | 112.4 |
Negative replacement value (NRV) | 113.5 | 111.2 |
Bank | Not designated for hedge accounting | Interest rate derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 12,027 | 11,549.9 |
Positive replacement value (PRV) | 44.2 | 49.4 |
Negative replacement value (NRV) | 41.5 | 44.8 |
Bank | Not designated for hedge accounting | Interest rate derivatives | Forwards and forward rate agreements | ||
Fair value of derivative instruments | ||
Notional amount | 2,133.5 | 1,736 |
Positive replacement value (PRV) | 4.4 | 0.9 |
Negative replacement value (NRV) | 4.3 | 0.9 |
Bank | Not designated for hedge accounting | Interest rate derivatives | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 8,959.2 | 8,818.8 |
Positive replacement value (PRV) | 31.5 | 36.9 |
Negative replacement value (NRV) | 28.9 | 33 |
Bank | Not designated for hedge accounting | Interest rate derivatives | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 737.8 | 779 |
Positive replacement value (PRV) | 8.3 | 11.5 |
Negative replacement value (NRV) | 8.3 | 10.9 |
Bank | Not designated for hedge accounting | Interest rate derivatives | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 172 | 144.5 |
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 | 24.5 | 71.6 |
Positive replacement value (PRV) | 0 | 0.1 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Not designated for hedge accounting | Foreign exchange derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 1,565.5 | 1,585 |
Positive replacement value (PRV) | 30.9 | 20.9 |
Negative replacement value (NRV) | 31 | 22.8 |
Bank | Not designated for hedge accounting | Foreign exchange derivatives | Forwards | ||
Fair value of derivative instruments | ||
Notional amount | 1,027.6 | 1,052.9 |
Positive replacement value (PRV) | 13.5 | 7.6 |
Negative replacement value (NRV) | 14 | 8.2 |
Bank | Not designated for hedge accounting | Foreign exchange derivatives | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 343.8 | 345.3 |
Positive replacement value (PRV) | 14.3 | 11.3 |
Negative replacement value (NRV) | 14 | 12.4 |
Bank | Not designated for hedge accounting | Foreign exchange derivatives | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 181.8 | 174.9 |
Positive replacement value (PRV) | 3.1 | 2 |
Negative replacement value (NRV) | 3 | 2.2 |
Bank | Not designated for hedge accounting | Foreign exchange derivatives | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 10 | 10.3 |
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 | 2.3 | 1.6 |
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 | 434.4 | 506.8 |
Positive replacement value (PRV) | 3.4 | 5 |
Negative replacement value (NRV) | 4.3 | 6.3 |
Bank | Not designated for hedge accounting | Equity/index-related derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 817.5 | 921.6 |
Positive replacement value (PRV) | 31.2 | 35.5 |
Negative replacement value (NRV) | 35.9 | 36.6 |
Bank | Not designated for hedge accounting | Equity/index-related derivatives | Forwards | ||
Fair value of derivative instruments | ||
Notional amount | 0.8 | 0.9 |
Positive replacement value (PRV) | 0 | 0.1 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Not designated for hedge accounting | Equity/index-related derivatives | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 57.9 | 94.7 |
Positive replacement value (PRV) | 2.4 | 1.4 |
Negative replacement value (NRV) | 2.2 | 2.6 |
Bank | Not designated for hedge accounting | Equity/index-related derivatives | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 223.2 | 243.9 |
Positive replacement value (PRV) | 7 | 11.1 |
Negative replacement value (NRV) | 8.5 | 12.5 |
Bank | Not designated for hedge accounting | Equity/index-related derivatives | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 46.9 | 46.3 |
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 | 488.7 | 535.8 |
Positive replacement value (PRV) | 21.8 | 22.9 |
Negative replacement value (NRV) | 25.2 | 21.5 |
Bank | Not designated for hedge accounting | Other products | ||
Fair value of derivative instruments | ||
Notional amount | 54.4 | 53.3 |
Positive replacement value (PRV) | 1.5 | 1.6 |
Negative replacement value (NRV) | 0.8 | 0.7 |
Bank | Not designated for hedge accounting | Other products | Forwards | ||
Fair value of derivative instruments | ||
Notional amount | 10.7 | 9.9 |
Positive replacement value (PRV) | 0.1 | 0.2 |
Negative replacement value (NRV) | 0.1 | 0.1 |
Bank | Not designated for hedge accounting | Other products | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 12.5 | 12 |
Positive replacement value (PRV) | 1 | 1.1 |
Negative replacement value (NRV) | 0.6 | 0.4 |
Bank | Not designated for hedge accounting | Other products | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 12 | 11.1 |
Positive replacement value (PRV) | 0.3 | 0.2 |
Negative replacement value (NRV) | 0.1 | 0.1 |
Bank | Not designated for hedge accounting | Other products | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 10.6 | 11.1 |
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 | 8.6 | 9.2 |
Positive replacement value (PRV) | 0.1 | 0.1 |
Negative replacement value (NRV) | 0 | 0.1 |
Bank | Designated for hedge accounting | ||
Fair value of derivative instruments | ||
Notional amount | 138.3 | 148.6 |
Positive replacement value (PRV) | 0.5 | 0.5 |
Negative replacement value (NRV) | 2 | 0.3 |
Bank | Designated for hedge accounting | Interest rate derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 118.7 | 127.5 |
Positive replacement value (PRV) | 0.1 | 0.4 |
Negative replacement value (NRV) | 1.8 | 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 | 118.7 | 127.5 |
Positive replacement value (PRV) | 0.1 | 0.4 |
Negative replacement value (NRV) | 1.8 | 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 | 19.6 | 21.1 |
Positive replacement value (PRV) | 0.4 | 0.1 |
Negative replacement value (NRV) | 0.2 | 0.1 |
Bank | Designated for hedge accounting | Foreign exchange derivatives | Forwards | ||
Fair value of derivative instruments | ||
Notional amount | 19.6 | 21.1 |
Positive replacement value (PRV) | 0.4 | 0.1 |
Negative replacement value (NRV) | 0.2 | 0.1 |
Bank | Designated for hedge accounting | Foreign exchange derivatives | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Foreign exchange derivatives | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Foreign exchange derivatives | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Foreign exchange derivatives | Options bought and sold (exchange traded) | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Credit derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Equity/index-related derivatives | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Equity/index-related derivatives | Forwards | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Equity/index-related derivatives | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Equity/index-related derivatives | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Equity/index-related derivatives | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Equity/index-related derivatives | Options bought and sold (exchange traded) | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Other products | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Other products | Forwards | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Other products | Swaps | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Other products | Options bought and sold (OTC) | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Other products | Futures | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | 0 | 0 |
Bank | Designated for hedge accounting | Other products | Options bought and sold (exchange traded) | ||
Fair value of derivative instruments | ||
Notional amount | 0 | 0 |
Positive replacement value (PRV) | 0 | 0 |
Negative replacement value (NRV) | SFr 0 | SFr 0 |
Derivatives and hedging activ_4
Derivatives and hedging activities - Movements (Details 2) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Fair value hedges | Interest rate derivatives | Interest and dividend income [Member] | |||||
Derivative Instruments, Gain (Loss) | |||||
Hedged items | SFr 1,115 | SFr 1,756 | SFr (288) | SFr 2,871 | SFr 868 |
Derivatives designated as hedging instruments | (1,050) | (1,679) | 264 | (2,729) | (832) |
Cash flow hedges | |||||
Derivative Instruments, Gain (Loss) | |||||
Expected reclassification of net gains/(losses) from AOCI into earnings during the next 12 months | (437) | ||||
Cash flow hedges | Interest rate derivatives | |||||
Derivative Instruments, Gain (Loss) | |||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax | (171) | (650) | (23) | (821) | (119) |
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 | 173 | 4 | 7 | 177 | 10 |
Cash flow hedges | Foreign exchange derivatives | |||||
Derivative Instruments, Gain (Loss) | |||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax | (36) | (14) | 0 | (50) | 4 |
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | (16) | (6) | 15 | (22) | 25 |
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 | (16) | (6) | 15 | (22) | 25 |
Net investment hedges | Foreign exchange derivatives | |||||
Derivative Instruments, Gain (Loss) | |||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax | SFr 68 | SFr (122) | SFr 7 | (54) | (255) |
Bank | Fair value hedges | Interest rate derivatives | Interest and dividend income [Member] | |||||
Derivative Instruments, Gain (Loss) | |||||
Hedged items | 2,508 | 776 | |||
Derivatives designated as hedging instruments | (2,370) | (740) | |||
Bank | Cash flow hedges | |||||
Derivative Instruments, Gain (Loss) | |||||
Expected reclassification of net gains/(losses) from AOCI into earnings during the next 12 months | (437) | ||||
Bank | Cash flow hedges | Interest rate derivatives | |||||
Derivative Instruments, Gain (Loss) | |||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax | (821) | (119) | |||
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 | 177 | 10 | |||
Bank | Cash flow hedges | Foreign exchange derivatives | |||||
Derivative Instruments, Gain (Loss) | |||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax | (50) | 4 | |||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | (22) | 25 | |||
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 | (22) | 25 | |||
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 (57) | SFr (248) |
Derivatives and hedging activ_5
Derivatives and hedging activities - Contingent credit risk (Details 3) - CHF (SFr) SFr in Billions | Jun. 30, 2022 | Dec. 31, 2021 |
Contingent credit risk | ||
Current net exposure | SFr 1.8 | SFr 2.6 |
Collateral posted | 1.3 | 1.9 |
Scenario, Impact of a one-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0.1 | 0.1 |
Scenario, Impact of a two-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0.6 | 0.2 |
Scenario, Impact of a three-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0.8 | 0.8 |
Bilateral counterparties | ||
Contingent credit risk | ||
Current net exposure | 1.6 | 2.3 |
Collateral posted | 1.3 | 1.9 |
Bilateral counterparties | Scenario, Impact of a one-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0.1 | 0.1 |
Bilateral counterparties | Scenario, Impact of a two-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0.5 | 0.2 |
Bilateral counterparties | Scenario, Impact of a three-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0.6 | 0.7 |
Special purpose entities | ||
Contingent credit risk | ||
Current net exposure | 0 | 0 |
Collateral posted | 0 | 0 |
Special purpose entities | Scenario, Impact of a one-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0 | 0 |
Special purpose entities | Scenario, Impact of a two-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0 | 0 |
Special purpose entities | Scenario, Impact of a three-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0.1 | 0 |
Accelerated terminations | ||
Contingent credit risk | ||
Current net exposure | 0.2 | 0.3 |
Accelerated terminations | Scenario, Impact of a one-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0 | 0 |
Accelerated terminations | Scenario, Impact of a two-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0.1 | 0 |
Accelerated terminations | Scenario, Impact of a three-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0.1 | 0.1 |
Bank | ||
Contingent credit risk | ||
Current net exposure | 1.8 | 2.6 |
Collateral posted | 1.3 | 1.9 |
Bank | Scenario, Impact of a one-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0.1 | 0.1 |
Bank | Scenario, Impact of a two-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0.6 | 0.2 |
Bank | Scenario, Impact of a three-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0.8 | 0.8 |
Bank | Bilateral counterparties | ||
Contingent credit risk | ||
Current net exposure | 1.6 | 2.3 |
Collateral posted | 1.3 | 1.9 |
Bank | Bilateral counterparties | Scenario, Impact of a one-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0.1 | 0.1 |
Bank | Bilateral counterparties | Scenario, Impact of a two-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0.5 | 0.2 |
Bank | Bilateral counterparties | Scenario, Impact of a three-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0.6 | 0.7 |
Bank | Special purpose entities | ||
Contingent credit risk | ||
Current net exposure | 0 | 0 |
Collateral posted | 0 | 0 |
Bank | Special purpose entities | Scenario, Impact of a one-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0 | 0 |
Bank | Special purpose entities | Scenario, Impact of a two-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0 | 0 |
Bank | Special purpose entities | Scenario, Impact of a three-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0.1 | 0 |
Bank | Accelerated terminations | ||
Contingent credit risk | ||
Current net exposure | 0.2 | 0.3 |
Bank | Accelerated terminations | Scenario, Impact of a one-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0 | 0 |
Bank | Accelerated terminations | Scenario, Impact of a two-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | 0.1 | 0 |
Bank | Accelerated terminations | Scenario, Impact of a three-notch downgrade event [Member] | ||
Contingent credit risk | ||
Collateral posted | SFr 0.1 | SFr 0.1 |
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, 2021 | Jun. 30, 2022 | |
Credit protection sold/purchased | ||
Credit protection sold | SFr (230.3) | SFr (192) |
Credit protection purchased | 213.7 | 175 |
Net credit protection (sold)/purchased | (16.6) | (17) |
Other protection purchased | 50.8 | 47.1 |
Fair value of credit protection sold | 1.2 | (1.6) |
Total return swaps | ||
Credit protection sold/purchased | ||
Credit protection sold | (12) | (12) |
Maturity less than 1 year | ||
Credit protection sold/purchased | ||
Credit protection sold | (54.3) | (30) |
Maturity between 1 to 5 years | ||
Credit protection sold/purchased | ||
Credit protection sold | (161.9) | (149.1) |
Maturity greater than 5 years | ||
Credit protection sold/purchased | ||
Credit protection sold | (14.1) | (12.9) |
Government debt securities | ||
Credit protection sold/purchased | ||
Credit protection sold | (13.5) | (14) |
Credit protection purchased | 12.2 | 12.4 |
Net credit protection (sold)/purchased | (1.3) | (1.6) |
Other protection purchased | 4 | 3.9 |
Fair value of credit protection sold | (0.1) | (0.1) |
Non-sovereigns | ||
Credit protection sold/purchased | ||
Credit protection sold | (216.8) | (178) |
Credit protection purchased | 201.5 | 162.6 |
Net credit protection (sold)/purchased | (15.3) | (15.4) |
Other protection purchased | 46.8 | 43.2 |
Fair value of credit protection sold | 1.3 | (1.5) |
Investment grade | ||
Credit protection sold/purchased | ||
Credit protection sold | (163.1) | (133.1) |
Credit protection purchased | 151.6 | 123.7 |
Net credit protection (sold)/purchased | (11.5) | (9.4) |
Other protection purchased | 30.3 | 29.6 |
Fair value of credit protection sold | 1.3 | (0.1) |
Non-investment grade | ||
Credit protection sold/purchased | ||
Credit protection sold | (67.2) | (58.9) |
Credit protection purchased | 62.1 | 51.3 |
Net credit protection (sold)/purchased | (5.1) | (7.6) |
Other protection purchased | 20.5 | 17.5 |
Fair value of credit protection sold | (0.1) | (1.5) |
Single-name instruments | ||
Credit protection sold/purchased | ||
Credit protection sold | (91.7) | (80.9) |
Credit protection purchased | 84.5 | 73 |
Net credit protection (sold)/purchased | (7.2) | (7.9) |
Other protection purchased | 18 | 16.8 |
Fair value of credit protection sold | 1 | (0.3) |
Single-name instruments | Maturity less than 1 year | ||
Credit protection sold/purchased | ||
Credit protection sold | (14.4) | (11.8) |
Single-name instruments | Maturity between 1 to 5 years | ||
Credit protection sold/purchased | ||
Credit protection sold | (73.6) | (65.7) |
Single-name instruments | Maturity greater than 5 years | ||
Credit protection sold/purchased | ||
Credit protection sold | (3.7) | (3.4) |
Single-name instruments | Government debt securities | ||
Credit protection sold/purchased | ||
Credit protection sold | (13.5) | (14) |
Credit protection purchased | 12.2 | 12.4 |
Net credit protection (sold)/purchased | (1.3) | (1.6) |
Other protection purchased | 4 | 3.9 |
Fair value of credit protection sold | (0.1) | (0.1) |
Single-name instruments | Non-sovereigns | ||
Credit protection sold/purchased | ||
Credit protection sold | (78.2) | (66.9) |
Credit protection purchased | 72.3 | 60.6 |
Net credit protection (sold)/purchased | (5.9) | (6.3) |
Other protection purchased | 14 | 12.9 |
Fair value of credit protection sold | 1.1 | (0.2) |
Single-name instruments | Investment grade | ||
Credit protection sold/purchased | ||
Credit protection sold | (60.2) | (55.7) |
Credit protection purchased | 55.6 | 50.7 |
Net credit protection (sold)/purchased | (4.6) | (5) |
Other protection purchased | 10.1 | 9.7 |
Fair value of credit protection sold | 0.6 | 0.1 |
Single-name instruments | Non-investment grade | ||
Credit protection sold/purchased | ||
Credit protection sold | (31.5) | (25.2) |
Credit protection purchased | 28.9 | 22.3 |
Net credit protection (sold)/purchased | (2.6) | (2.9) |
Other protection purchased | 7.9 | 7.1 |
Fair value of credit protection sold | 0.4 | (0.4) |
Multi-name instruments | ||
Credit protection sold/purchased | ||
Credit protection sold | (138.6) | (111.1) |
Credit protection purchased | 129.2 | 102 |
Net credit protection (sold)/purchased | (9.4) | (9.1) |
Other protection purchased | 32.8 | 30.3 |
Fair value of credit protection sold | 0.2 | (1.3) |
Multi-name instruments | Maturity less than 1 year | ||
Credit protection sold/purchased | ||
Credit protection sold | (39.9) | (18.2) |
Multi-name instruments | Maturity between 1 to 5 years | ||
Credit protection sold/purchased | ||
Credit protection sold | (88.3) | (83.4) |
Multi-name instruments | Maturity greater than 5 years | ||
Credit protection sold/purchased | ||
Credit protection sold | (10.4) | (9.5) |
Multi-name instruments | Non-sovereigns | ||
Credit protection sold/purchased | ||
Credit protection sold | (138.6) | (111.1) |
Credit protection purchased | 129.2 | 102 |
Net credit protection (sold)/purchased | (9.4) | (9.1) |
Other protection purchased | 32.8 | 30.3 |
Fair value of credit protection sold | 0.2 | (1.3) |
Multi-name instruments | Investment grade | ||
Credit protection sold/purchased | ||
Credit protection sold | (102.9) | (77.4) |
Credit protection purchased | 96 | 73 |
Net credit protection (sold)/purchased | (6.9) | (4.4) |
Other protection purchased | 20.2 | 19.9 |
Fair value of credit protection sold | 0.7 | (0.2) |
Multi-name instruments | Non-investment grade | ||
Credit protection sold/purchased | ||
Credit protection sold | (35.7) | (33.7) |
Credit protection purchased | 33.2 | 29 |
Net credit protection (sold)/purchased | (2.5) | (4.7) |
Other protection purchased | 12.6 | 10.4 |
Fair value of credit protection sold | (0.5) | (1.1) |
Bank | ||
Credit protection sold/purchased | ||
Credit protection sold | (230.3) | (192) |
Credit protection purchased | 213.7 | 175 |
Net credit protection (sold)/purchased | (16.6) | (17) |
Other protection purchased | 50.8 | 47.1 |
Fair value of credit protection sold | 1.2 | (1.6) |
Bank | Total return swaps | ||
Credit protection sold/purchased | ||
Credit protection sold | (12) | (12) |
Bank | Maturity less than 1 year | ||
Credit protection sold/purchased | ||
Credit protection sold | (54.3) | (30) |
Bank | Maturity between 1 to 5 years | ||
Credit protection sold/purchased | ||
Credit protection sold | (161.9) | (149.1) |
Bank | Maturity greater than 5 years | ||
Credit protection sold/purchased | ||
Credit protection sold | (14.1) | (12.9) |
Bank | Government debt securities | ||
Credit protection sold/purchased | ||
Credit protection sold | (13.5) | (14) |
Credit protection purchased | 12.2 | 12.4 |
Net credit protection (sold)/purchased | (1.3) | (1.6) |
Other protection purchased | 4 | 3.9 |
Fair value of credit protection sold | (0.1) | (0.1) |
Bank | Non-sovereigns | ||
Credit protection sold/purchased | ||
Credit protection sold | (216.8) | (178) |
Credit protection purchased | 201.5 | 162.6 |
Net credit protection (sold)/purchased | (15.3) | (15.4) |
Other protection purchased | 46.8 | 43.2 |
Fair value of credit protection sold | 1.3 | (1.5) |
Bank | Investment grade | ||
Credit protection sold/purchased | ||
Credit protection sold | (163.1) | (133.1) |
Credit protection purchased | 151.6 | 123.7 |
Net credit protection (sold)/purchased | (11.5) | (9.4) |
Other protection purchased | 30.3 | 29.6 |
Fair value of credit protection sold | 1.3 | (0.1) |
Bank | Non-investment grade | ||
Credit protection sold/purchased | ||
Credit protection sold | (67.2) | (58.9) |
Credit protection purchased | 62.1 | 51.3 |
Net credit protection (sold)/purchased | (5.1) | (7.6) |
Other protection purchased | 20.5 | 17.5 |
Fair value of credit protection sold | (0.1) | (1.5) |
Bank | Single-name instruments | ||
Credit protection sold/purchased | ||
Credit protection sold | (91.7) | (80.9) |
Credit protection purchased | 84.5 | 73 |
Net credit protection (sold)/purchased | (7.2) | (7.9) |
Other protection purchased | 18 | 16.8 |
Fair value of credit protection sold | 1 | (0.3) |
Bank | Single-name instruments | Maturity less than 1 year | ||
Credit protection sold/purchased | ||
Credit protection sold | (14.4) | (11.8) |
Bank | Single-name instruments | Maturity between 1 to 5 years | ||
Credit protection sold/purchased | ||
Credit protection sold | (73.6) | (65.7) |
Bank | Single-name instruments | Maturity greater than 5 years | ||
Credit protection sold/purchased | ||
Credit protection sold | (3.7) | (3.4) |
Bank | Single-name instruments | Government debt securities | ||
Credit protection sold/purchased | ||
Credit protection sold | (13.5) | (14) |
Credit protection purchased | 12.2 | 12.4 |
Net credit protection (sold)/purchased | (1.3) | (1.6) |
Other protection purchased | 4 | 3.9 |
Fair value of credit protection sold | (0.1) | (0.1) |
Bank | Single-name instruments | Non-sovereigns | ||
Credit protection sold/purchased | ||
Credit protection sold | (78.2) | (66.9) |
Credit protection purchased | 72.3 | 60.6 |
Net credit protection (sold)/purchased | (5.9) | (6.3) |
Other protection purchased | 14 | 12.9 |
Fair value of credit protection sold | 1.1 | (0.2) |
Bank | Single-name instruments | Investment grade | ||
Credit protection sold/purchased | ||
Credit protection sold | (60.2) | (55.7) |
Credit protection purchased | 55.6 | 50.7 |
Net credit protection (sold)/purchased | (4.6) | (5) |
Other protection purchased | 10.1 | 9.7 |
Fair value of credit protection sold | 0.6 | 0.1 |
Bank | Single-name instruments | Non-investment grade | ||
Credit protection sold/purchased | ||
Credit protection sold | (31.5) | (25.2) |
Credit protection purchased | 28.9 | 22.3 |
Net credit protection (sold)/purchased | (2.6) | (2.9) |
Other protection purchased | 7.9 | 7.1 |
Fair value of credit protection sold | 0.4 | (0.4) |
Bank | Multi-name instruments | ||
Credit protection sold/purchased | ||
Credit protection sold | (138.6) | (111.1) |
Credit protection purchased | 129.2 | 102 |
Net credit protection (sold)/purchased | (9.4) | (9.1) |
Other protection purchased | 32.8 | 30.3 |
Fair value of credit protection sold | 0.2 | (1.3) |
Bank | Multi-name instruments | Maturity less than 1 year | ||
Credit protection sold/purchased | ||
Credit protection sold | (39.9) | (18.2) |
Bank | Multi-name instruments | Maturity between 1 to 5 years | ||
Credit protection sold/purchased | ||
Credit protection sold | (88.3) | (83.4) |
Bank | Multi-name instruments | Maturity greater than 5 years | ||
Credit protection sold/purchased | ||
Credit protection sold | (10.4) | (9.5) |
Bank | Multi-name instruments | Non-sovereigns | ||
Credit protection sold/purchased | ||
Credit protection sold | (138.6) | (111.1) |
Credit protection purchased | 129.2 | 102 |
Net credit protection (sold)/purchased | (9.4) | (9.1) |
Other protection purchased | 32.8 | 30.3 |
Fair value of credit protection sold | 0.2 | (1.3) |
Bank | Multi-name instruments | Investment grade | ||
Credit protection sold/purchased | ||
Credit protection sold | (102.9) | (77.4) |
Credit protection purchased | 96 | 73 |
Net credit protection (sold)/purchased | (6.9) | (4.4) |
Other protection purchased | 20.2 | 19.9 |
Fair value of credit protection sold | 0.7 | (0.2) |
Bank | Multi-name instruments | Non-investment grade | ||
Credit protection sold/purchased | ||
Credit protection sold | (35.7) | (33.7) |
Credit protection purchased | 33.2 | 29 |
Net credit protection (sold)/purchased | (2.5) | (4.7) |
Other protection purchased | 12.6 | 10.4 |
Fair value of credit protection sold | SFr (0.5) | SFr (1.1) |
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, 2021 | Jun. 30, 2022 | |
Credit Derivatives [Line Items] | ||
Credit protection sold | SFr 230.3 | SFr 192 |
Credit protection purchased | 213.7 | 175 |
Other protection purchased | 50.8 | 47.1 |
Other instruments | 12 | 20.3 |
Total credit derivatives | 506.8 | 434.4 |
Bank | ||
Credit Derivatives [Line Items] | ||
Credit protection sold | 230.3 | 192 |
Credit protection purchased | 213.7 | 175 |
Other protection purchased | 50.8 | 47.1 |
Other instruments | 12 | 20.3 |
Total credit derivatives | SFr 506.8 | SFr 434.4 |
Derivatives and hedging activ_8
Derivatives and hedging activities (Details 6) - CHF (SFr) SFr in Billions | Jun. 30, 2022 | Dec. 31, 2021 |
Investment securities | ||
Hedged items in fair value hedges [Line Items] | ||
Hedged Asset, Fair Value Hedge | SFr 0.7 | SFr 0.8 |
Hedged Asset, Fair Value Hedge, Cumulative Increase (Decrease) | (0.1) | 0 |
Hedged Asset, Discontinued Fair Value Hedge, Cumulative Increase (Decrease) | 0 | 0 |
Long-term debt | ||
Hedged items in fair value hedges [Line Items] | ||
Hedged Liability, Fair Value Hedge | 67.1 | 69.4 |
Hedged Liability, Fair Value Hedge, Cumulative Increase (Decrease) | (2.3) | (0.2) |
Hedged Liability, Discontinued Fair Value Hedge, Cumulative Increase (Decrease) | (1.7) | 0.8 |
Net loans | ||
Hedged items in fair value hedges [Line Items] | ||
Hedged Asset, Fair Value Hedge | 16.5 | 16.6 |
Hedged Asset, Fair Value Hedge, Cumulative Increase (Decrease) | (1.5) | (0.2) |
Hedged Asset, Discontinued Fair Value Hedge, Cumulative Increase (Decrease) | (0.1) | 0.2 |
Bank | Investment securities | ||
Hedged items in fair value hedges [Line Items] | ||
Hedged Asset, Fair Value Hedge | 0.7 | 0.8 |
Hedged Asset, Fair Value Hedge, Cumulative Increase (Decrease) | (0.1) | 0 |
Hedged Asset, Discontinued Fair Value Hedge, Cumulative Increase (Decrease) | 0 | 0 |
Bank | Long-term debt | ||
Hedged items in fair value hedges [Line Items] | ||
Hedged Liability, Fair Value Hedge | 63.4 | 65.6 |
Hedged Liability, Fair Value Hedge, Cumulative Increase (Decrease) | (2) | (0.1) |
Hedged Liability, Discontinued Fair Value Hedge, Cumulative Increase (Decrease) | (1.4) | 0.8 |
Bank | Net loans | ||
Hedged items in fair value hedges [Line Items] | ||
Hedged Asset, Fair Value Hedge | 16.5 | 16.6 |
Hedged Asset, Fair Value Hedge, Cumulative Increase (Decrease) | (1.5) | (0.2) |
Hedged Asset, Discontinued Fair Value Hedge, Cumulative Increase (Decrease) | SFr (0.1) | SFr 0.2 |
Guarantees and commitments - Gu
Guarantees and commitments - Guarantees maturity (Details) - CHF (SFr) SFr in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Guarantees | ||
Maturity less than 1 year | SFr 17,299 | SFr 15,492 |
Maturity greater than 1 year | 9,410 | 11,188 |
Total gross amount | 26,709 | 26,680 |
Total net amount | 25,347 | 25,563 |
Carrying value | 285 | 425 |
Collateral received | 9,663 | 9,408 |
Credit guarantees and similar instruments | ||
Guarantees | ||
Maturity less than 1 year | 2,306 | 2,124 |
Maturity greater than 1 year | 1,494 | 1,807 |
Total gross amount | 3,800 | 3,931 |
Total net amount | 3,722 | 3,874 |
Carrying value | 25 | 25 |
Collateral received | 2,070 | 2,014 |
Performance guarantees and similar instruments | ||
Guarantees | ||
Maturity less than 1 year | 4,826 | 3,982 |
Maturity greater than 1 year | 3,061 | 3,336 |
Total gross amount | 7,887 | 7,318 |
Total net amount | 6,613 | 6,299 |
Carrying value | 44 | 40 |
Collateral received | 3,943 | 3,605 |
Derivatives | ||
Guarantees | ||
Maturity less than 1 year | 5,884 | 5,374 |
Maturity greater than 1 year | 2,634 | 3,547 |
Total gross amount | 8,518 | 8,921 |
Total net amount | 8,518 | 8,921 |
Carrying value | 145 | 289 |
Other guarantees | ||
Guarantees | ||
Maturity less than 1 year | 4,283 | 4,012 |
Maturity greater than 1 year | 2,221 | 2,498 |
Total gross amount | 6,504 | 6,510 |
Total net amount | 6,494 | 6,469 |
Carrying value | 71 | 71 |
Collateral received | 3,650 | 3,789 |
Bank | ||
Guarantees | ||
Maturity less than 1 year | 17,303 | 15,492 |
Maturity greater than 1 year | 9,435 | 11,188 |
Total gross amount | 26,738 | 26,680 |
Total net amount | 25,376 | 25,563 |
Carrying value | 285 | 425 |
Collateral received | 9,663 | 9,408 |
Bank | Credit guarantees and similar instruments | ||
Guarantees | ||
Maturity less than 1 year | 2,310 | 2,124 |
Maturity greater than 1 year | 1,491 | 1,807 |
Total gross amount | 3,801 | 3,931 |
Total net amount | 3,723 | 3,874 |
Carrying value | 25 | 25 |
Collateral received | 2,070 | 2,014 |
Bank | Performance guarantees and similar instruments | ||
Guarantees | ||
Maturity less than 1 year | 4,826 | 3,982 |
Maturity greater than 1 year | 3,061 | 3,336 |
Total gross amount | 7,887 | 7,318 |
Total net amount | 6,613 | 6,299 |
Carrying value | 44 | 40 |
Collateral received | 3,943 | 3,605 |
Bank | Derivatives | ||
Guarantees | ||
Maturity less than 1 year | 5,884 | 5,374 |
Maturity greater than 1 year | 2,634 | 3,547 |
Total gross amount | 8,518 | 8,921 |
Total net amount | 8,518 | 8,921 |
Carrying value | 145 | 289 |
Bank | Other guarantees | ||
Guarantees | ||
Maturity less than 1 year | 4,283 | 4,012 |
Maturity greater than 1 year | 2,249 | 2,498 |
Total gross amount | 6,532 | 6,510 |
Total net amount | 6,522 | 6,469 |
Carrying value | 71 | 71 |
Collateral received | SFr 3,650 | SFr 3,789 |
Guarantees and commitments - Ot
Guarantees and commitments - Other guarantees (Details 2) - CHF (SFr) SFr in Billions | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
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, 2022 | Dec. 31, 2021 |
Other commitments | ||
Maturity less than 1 year | SFr 29,767 | SFr 28,342 |
Maturity greater than 1 year | 97,510 | 99,991 |
Total gross amount | 127,277 | 128,333 |
Total net amount | 122,982 | 123,745 |
Collateral received | 57,516 | 59,041 |
Unused revocable credit limits | 139,405 | 143,992 |
Irrevocable commitments under documentary credits | ||
Other commitments | ||
Maturity less than 1 year | 5,069 | 4,796 |
Maturity greater than 1 year | 41 | 116 |
Total gross amount | 5,110 | 4,912 |
Total net amount | 4,781 | 4,602 |
Collateral received | 3,153 | 2,801 |
Loan commitments | ||
Other commitments | ||
Maturity less than 1 year | 24,326 | 22,959 |
Maturity greater than 1 year | 97,182 | 99,600 |
Total gross amount | 121,508 | 122,559 |
Total net amount | 117,542 | 118,281 |
Collateral received | 54,120 | 55,766 |
Forward reverse repurchase agreements | ||
Other commitments | ||
Maturity less than 1 year | 239 | 466 |
Maturity greater than 1 year | 0 | 0 |
Total gross amount | 239 | 466 |
Total net amount | 239 | 466 |
Collateral received | 239 | 466 |
Other commitments | ||
Other commitments | ||
Maturity less than 1 year | 133 | 121 |
Maturity greater than 1 year | 287 | 275 |
Total gross amount | 420 | 396 |
Total net amount | 420 | 396 |
Collateral received | 4 | 8 |
Bank | ||
Other commitments | ||
Maturity less than 1 year | 29,767 | 28,342 |
Maturity greater than 1 year | 97,510 | 99,991 |
Total gross amount | 127,277 | 128,333 |
Total net amount | 122,982 | 123,745 |
Collateral received | 57,516 | 59,041 |
Bank | Irrevocable commitments under documentary credits | ||
Other commitments | ||
Maturity less than 1 year | 5,069 | 4,796 |
Maturity greater than 1 year | 41 | 116 |
Total gross amount | 5,110 | 4,912 |
Total net amount | 4,781 | 4,602 |
Collateral received | 3,153 | 2,801 |
Bank | Loan commitments | ||
Other commitments | ||
Maturity less than 1 year | 24,326 | 22,959 |
Maturity greater than 1 year | 97,182 | 99,600 |
Total gross amount | 121,508 | 122,559 |
Total net amount | 117,542 | 118,281 |
Collateral received | 54,120 | 55,766 |
Unused revocable credit limits | 139,485 | 144,079 |
Bank | Forward reverse repurchase agreements | ||
Other commitments | ||
Maturity less than 1 year | 239 | 466 |
Maturity greater than 1 year | 0 | 0 |
Total gross amount | 239 | 466 |
Total net amount | 239 | 466 |
Collateral received | 239 | 466 |
Bank | Other commitments | ||
Other commitments | ||
Maturity less than 1 year | 133 | 121 |
Maturity greater than 1 year | 287 | 275 |
Total gross amount | 420 | 396 |
Total net amount | 420 | 396 |
Collateral received | SFr 4 | SFr 8 |
Transfers of financial assets (
Transfers of financial assets (TFA) - Securitizations (Details) - CHF (SFr) SFr in Millions | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
CMBS | ||
Transfers of financial assets disclosures | ||
Net gain/(loss) | SFr 5 | SFr 0 |
Proceeds from transfer of assets | 2,819 | 999 |
Cash received on interests that continue to be held | 22 | 26 |
RMBS | ||
Transfers of financial assets disclosures | ||
Net gain/(loss) | (1) | 62 |
Proceeds from transfer of assets | 6,799 | 20,876 |
Purchases of previously transferred financial assets or their underlying collateral | 0 | (1,072) |
Servicing fees | 0 | 1 |
Cash received on interests that continue to be held | 531 | 430 |
Other asset-backed financings | ||
Transfers of financial assets disclosures | ||
Net gain/(loss) | 23 | 47 |
Proceeds from transfer of assets | 3,808 | 6,802 |
Purchases of previously transferred financial assets or their underlying collateral | (997) | (699) |
Servicing fees | 97 | 81 |
Cash received on interests that continue to be held | 36 | 7 |
Bank | CMBS | ||
Transfers of financial assets disclosures | ||
Net gain/(loss) | 5 | 0 |
Proceeds from transfer of assets | 2,819 | 999 |
Cash received on interests that continue to be held | 22 | 26 |
Bank | RMBS | ||
Transfers of financial assets disclosures | ||
Net gain/(loss) | (1) | 62 |
Proceeds from transfer of assets | 6,799 | 20,876 |
Purchases of previously transferred financial assets or their underlying collateral | 0 | (1,072) |
Servicing fees | 0 | 1 |
Cash received on interests that continue to be held | 531 | 430 |
Bank | Other asset-backed financings | ||
Transfers of financial assets disclosures | ||
Net gain/(loss) | 23 | 47 |
Proceeds from transfer of assets | 3,808 | 6,802 |
Purchases of previously transferred financial assets or their underlying collateral | (997) | (699) |
Servicing fees | 97 | 81 |
Cash received on interests that continue to be held | SFr 36 | SFr 7 |
TFA - Principal amounts outstan
TFA - Principal amounts outstanding / total assets - continuing involvement (Details 2) - CHF (SFr) SFr in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
CMBS | ||
Principal amounts outstanding and total assets of SPEs resulting from continuing involvement | ||
Principal amount outstanding | SFr 20,202 | SFr 15,428 |
Total assets of SPE | 38,723 | 23,205 |
RMBS | ||
Principal amounts outstanding and total assets of SPEs resulting from continuing involvement | ||
Principal amount outstanding | 49,342 | 56,990 |
Total assets of SPE | 49,342 | 56,990 |
Other asset-backed financings | ||
Principal amounts outstanding and total assets of SPEs resulting from continuing involvement | ||
Principal amount outstanding | 23,514 | 24,856 |
Total assets of SPE | 56,511 | 57,797 |
Bank | CMBS | ||
Principal amounts outstanding and total assets of SPEs resulting from continuing involvement | ||
Principal amount outstanding | 20,202 | 15,428 |
Total assets of SPE | 38,723 | 23,205 |
Bank | RMBS | ||
Principal amounts outstanding and total assets of SPEs resulting from continuing involvement | ||
Principal amount outstanding | 49,342 | 56,990 |
Total assets of SPE | 49,342 | 56,990 |
Bank | Other asset-backed financings | ||
Principal amounts outstanding and total assets of SPEs resulting from continuing involvement | ||
Principal amount outstanding | 23,514 | 24,856 |
Total assets of SPE | SFr 56,511 | SFr 57,797 |
TFA - Key economic assumptions
TFA - Key economic assumptions at time of transfer (Details 3) - CHF (SFr) SFr in Millions | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
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% | ||
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% | ||
CMBS | |||
Key economic assumptions used in measuring fair value at time of transfer | |||
Fair value of beneficial interests at time of transfer | SFr 252 | SFr 92 | |
Weighted-average life, in years | 5 years 4 months 24 days | 7 years 4 months 24 days | |
CMBS | Minimum | |||
Key economic assumptions used in measuring fair value at time of transfer | |||
Cash flow discount rate (rate per annum), in % (as a percent) | 3.50% | 1.80% | |
Expected credit losses (rate per annum), in % (as a percent) | 2.70% | 0.90% | |
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) | 10.30% | 4.50% | |
Expected credit losses (rate per annum), in % (as a percent) | 5.60% | 3.90% | |
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 191 | 82 | |
CMBS | Level 3 | |||
Key economic assumptions used in measuring fair value at time of transfer | |||
Fair value of beneficial interests at time of transfer | 61 | 10 | |
RMBS | |||
Key economic assumptions used in measuring fair value at time of transfer | |||
Fair value of beneficial interests at time of transfer | SFr 548 | 1,337 | |
Weighted-average life, in years | 10 years 10 months 24 days | 5 years | |
RMBS | Minimum | |||
Key economic assumptions used in measuring fair value at time of transfer | |||
Prepayment speed assumption (rate per annum) in % (as a percent) | 5% | 3% | |
Cash flow discount rate (rate per annum), in % (as a percent) | 2.80% | 1% | |
Expected credit losses (rate per annum), in % (as a percent) | 1.30% | 0.10% | |
RMBS | Maximum | |||
Key economic assumptions used in measuring fair value at time of transfer | |||
Prepayment speed assumption (rate per annum) in % (as a percent) | 22.20% | 32.80% | |
Cash flow discount rate (rate per annum), in % (as a percent) | 43.60% | 15.40% | |
Expected credit losses (rate per annum), in % (as a percent) | 41.10% | 13.70% | |
RMBS | Level 2 | |||
Key economic assumptions used in measuring fair value at time of transfer | |||
Fair value of beneficial interests at time of transfer | SFr 480 | 1,019 | |
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 68 | SFr 318 | |
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% | ||
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% | ||
Bank | CMBS | |||
Key economic assumptions used in measuring fair value at time of transfer | |||
Fair value of beneficial interests at time of transfer | SFr 252 | SFr 92 | |
Weighted-average life, in years | 5 years 4 months 24 days | 7 years 4 months 24 days | |
Bank | CMBS | Minimum | |||
Key economic assumptions used in measuring fair value at time of transfer | |||
Cash flow discount rate (rate per annum), in % (as a percent) | 3.50% | 1.80% | |
Expected credit losses (rate per annum), in % (as a percent) | 2.70% | 0.90% | |
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) | 10.30% | 4.50% | |
Expected credit losses (rate per annum), in % (as a percent) | 5.60% | 3.90% | |
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 191 | SFr 82 | |
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 | 61 | 10 | |
Bank | RMBS | |||
Key economic assumptions used in measuring fair value at time of transfer | |||
Fair value of beneficial interests at time of transfer | SFr 548 | SFr 1,337 | |
Weighted-average life, in years | 10 years 10 months 24 days | 5 years | |
Bank | RMBS | Minimum | |||
Key economic assumptions used in measuring fair value at time of transfer | |||
Prepayment speed assumption (rate per annum) in % (as a percent) | 5% | 3% | |
Cash flow discount rate (rate per annum), in % (as a percent) | 2.80% | 1% | |
Expected credit losses (rate per annum), in % (as a percent) | 1.30% | 0.10% | |
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) | 22.20% | 32.80% | |
Cash flow discount rate (rate per annum), in % (as a percent) | 43.60% | 15.40% | |
Expected credit losses (rate per annum), in % (as a percent) | 41.10% | 13.70% | |
Bank | RMBS | Level 2 | |||
Key economic assumptions used in measuring fair value at time of transfer | |||
Fair value of beneficial interests at time of transfer | SFr 480 | SFr 1,019 | |
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 68 | SFr 318 |
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, 2021 | Jun. 30, 2022 | Dec. 31, 2021 | |
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 281 | SFr 478 | SFr 281 |
Weighted-average life, in years | 3 years 10 months 24 days | 3 years 6 months | |
Impact on fair value from 10% adverse change in cash flow discount rate | SFr (3.5) | SFr (7) | (3.5) |
Impact on fair value from 20% adverse change in cash flow discount rate | (6.8) | (13.8) | (6.8) |
Impact on fair value from 10% adverse change in expected credit losses | (2.5) | (3.7) | (2.5) |
Impact on fair value from 20% adverse change in expected credit losses | SFr (4.9) | SFr (7.4) | (4.9) |
CMBS | Minimum | |||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | |||
Cash flow discount rate per annum, in % (as a percent) | 1.70% | 4.20% | |
Expected credit losses rate (rate per annum), in % (as a percent) | 0.60% | 1.20% | |
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) | 50.70% | 41.90% | |
Expected credit losses rate (rate per annum), in % (as a percent) | 8.40% | 13.20% | |
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 55 | SFr 96 | 55 |
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 2,310 | SFr 1,563 | 2,310 |
Weighted-average life, in years | 4 years 8 months 12 days | 8 years 8 months 12 days | |
Impact on fair value from 10% adverse change in prepayment speed | SFr (31.1) | SFr (30.4) | (31.1) |
Impact on fair value from 20% adverse change in prepayment speed | (59.8) | (59.6) | (59.8) |
Impact on fair value from 10% adverse change in cash flow discount rate | (38.1) | (53.8) | (38.1) |
Impact on fair value from 20% adverse change in cash flow discount rate | (73.3) | (103.5) | (73.3) |
Impact on fair value from 10% adverse change in expected credit losses | (28.5) | (27.6) | (28.5) |
Impact on fair value from 20% adverse change in expected credit losses | SFr (54.8) | SFr (53.7) | (54.8) |
RMBS | Minimum | |||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | |||
Prepayment speed assumption (rate per annum), in % (as a percent) | 5.10% | 4% | |
Cash flow discount rate per annum, in % (as a percent) | 0.70% | 2.10% | |
Expected credit losses rate (rate per annum), in % (as a percent) | 0.40% | 0.30% | |
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) | 41.90% | 22.90% | |
Cash flow discount rate per annum, in % (as a percent) | 35.50% | 38.40% | |
Expected credit losses rate (rate per annum), in % (as a percent) | 34.20% | 35.30% | |
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 370 | SFr 270 | 370 |
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 402 | SFr 549 | 402 |
Weighted-average life, in years | 5 years 6 months | 5 years 2 months 12 days | |
Impact on fair value from 10% adverse change in cash flow discount rate | SFr (4.9) | SFr (8.6) | (4.9) |
Impact on fair value from 20% adverse change in cash flow discount rate | (9.7) | (16.9) | (9.7) |
Impact on fair value from 10% adverse change in expected credit losses | (4.3) | (5.5) | (4.3) |
Impact on fair value from 20% adverse change in expected credit losses | SFr (8.4) | SFr (10.8) | (8.4) |
Other asset-backed financings | Minimum | |||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | |||
Cash flow discount rate per annum, in % (as a percent) | 0.30% | 1.20% | |
Expected credit losses rate (rate per annum), in % (as a percent) | 0.70% | 0.60% | |
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) | 14.70% | 52% | |
Expected credit losses rate (rate per annum), in % (as a percent) | 13.30% | 49.90% | |
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 27 | SFr 75 | 27 |
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 | 281 | SFr 478 | SFr 281 |
Weighted-average life, in years | 3 years 6 months | 3 years 10 months 24 days | |
Impact on fair value from 10% adverse change in cash flow discount rate | (3.5) | SFr (7) | SFr (3.5) |
Impact on fair value from 20% adverse change in cash flow discount rate | (6.8) | (13.8) | (6.8) |
Impact on fair value from 10% adverse change in expected credit losses | (2.5) | (3.7) | (2.5) |
Impact on fair value from 20% adverse change in expected credit losses | (4.9) | SFr (7.4) | SFr (4.9) |
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) | 4.20% | 1.70% | |
Expected credit losses rate (rate per annum), in % (as a percent) | 1.20% | 0.60% | |
Bank | CMBS | Maximum | |||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | |||
Cash flow discount rate per annum, in % (as a percent) | 41.90% | 50.70% | |
Expected credit losses rate (rate per annum), in % (as a percent) | 13.20% | 8.40% | |
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 | 55 | SFr 96 | SFr 55 |
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 | 2,310 | SFr 1,563 | SFr 2,310 |
Weighted-average life, in years | 8 years 8 months 12 days | 4 years 8 months 12 days | |
Impact on fair value from 10% adverse change in prepayment speed | (31.1) | SFr (30.4) | SFr (31.1) |
Impact on fair value from 20% adverse change in prepayment speed | (59.8) | (59.6) | (59.8) |
Impact on fair value from 10% adverse change in cash flow discount rate | (38.1) | (53.8) | (38.1) |
Impact on fair value from 20% adverse change in cash flow discount rate | (73.3) | (103.5) | (73.3) |
Impact on fair value from 10% adverse change in expected credit losses | (28.5) | (27.6) | (28.5) |
Impact on fair value from 20% adverse change in expected credit losses | (54.8) | SFr (53.7) | SFr (54.8) |
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) | 4% | 5.10% | |
Cash flow discount rate per annum, in % (as a percent) | 2.10% | 0.70% | |
Expected credit losses rate (rate per annum), in % (as a percent) | 0.30% | 0.40% | |
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) | 22.90% | 41.90% | |
Cash flow discount rate per annum, in % (as a percent) | 38.40% | 35.50% | |
Expected credit losses rate (rate per annum), in % (as a percent) | 35.30% | 34.20% | |
Bank | RMBS | Non-investment grade | |||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | |||
Fair value of beneficial interests held in SPEs | 370 | SFr 270 | SFr 370 |
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 | 402 | SFr 549 | SFr 402 |
Weighted-average life, in years | 5 years 2 months 12 days | 5 years 6 months | |
Impact on fair value from 10% adverse change in cash flow discount rate | (4.9) | SFr (8.6) | SFr (4.9) |
Impact on fair value from 20% adverse change in cash flow discount rate | (9.7) | (16.9) | (9.7) |
Impact on fair value from 10% adverse change in expected credit losses | (4.3) | (5.5) | (4.3) |
Impact on fair value from 20% adverse change in expected credit losses | (8.4) | SFr (10.8) | SFr (8.4) |
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) | 1.20% | 0.30% | |
Expected credit losses rate (rate per annum), in % (as a percent) | 0.60% | 0.70% | |
Bank | Other asset-backed financings | Maximum | |||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | |||
Cash flow discount rate per annum, in % (as a percent) | 52% | 14.70% | |
Expected credit losses rate (rate per annum), in % (as a percent) | 49.90% | 13.30% | |
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 27 | SFr 75 | SFr 27 |
TFA - Carrying amounts for sale
TFA - Carrying amounts for sale treatmen not achieved (Details 5) - CHF (SFr) SFr in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
RMBS | Other assets | ||
Carrying amounts of transferred financial assets and liabilities where sale treatment not achieved | ||
Assets, transfer of financial interest, sale treatment not achieved | SFr 0 | SFr 257 |
RMBS | 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 | 0 | (257) |
Other asset-backed financings | Trading assets | ||
Carrying amounts of transferred financial assets and liabilities where sale treatment not achieved | ||
Assets, transfer of financial interest, sale treatment not achieved | 500 | 557 |
Other asset-backed financings | Other assets | ||
Carrying amounts of transferred financial assets and liabilities where sale treatment not achieved | ||
Assets, transfer of financial interest, sale treatment not achieved | 178 | 200 |
Other asset-backed financings | 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 | (678) | (757) |
Bank | RMBS | Other assets | ||
Carrying amounts of transferred financial assets and liabilities where sale treatment not achieved | ||
Assets, transfer of financial interest, sale treatment not achieved | 0 | 257 |
Bank | RMBS | 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 | 0 | (257) |
Bank | Other asset-backed financings | Trading assets | ||
Carrying amounts of transferred financial assets and liabilities where sale treatment not achieved | ||
Assets, transfer of financial interest, sale treatment not achieved | 500 | 557 |
Bank | Other asset-backed financings | Other assets | ||
Carrying amounts of transferred financial assets and liabilities where sale treatment not achieved | ||
Assets, transfer of financial interest, sale treatment not achieved | 178 | 200 |
Bank | Other asset-backed financings | 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 (678) | SFr (757) |
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, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | SFr 35,100 | SFr 36,200 | |
Securities lending transactions | 800 | 15,700 | |
Obligation to return securities received as collateral, at fair value | 7,386 | SFr 8,084 | 15,017 |
Total | 43,300 | 66,900 | |
Corporate debt securities | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 9,700 | 9,600 | |
Securities lending transactions | 200 | 300 | |
Obligation to return securities received as collateral, at fair value | 800 | 600 | |
Asset-backed securities | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 2,300 | 4,600 | |
Securities lending transactions | 0 | 300 | |
Obligation to return securities received as collateral, at fair value | 100 | 0 | |
Equity securities | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 300 | 500 | |
Securities lending transactions | 200 | 1,000 | |
Obligation to return securities received as collateral, at fair value | 2,800 | 10,800 | |
Other | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 3,600 | 5,600 | |
Securities lending transactions | 200 | 200 | |
Government debt securities | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 19,200 | 15,900 | |
Securities lending transactions | 200 | 13,900 | |
Obligation to return securities received as collateral, at fair value | 3,700 | 3,600 | |
No stated maturity [Member] | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 6,000 | 5,200 | |
Securities lending transactions | 700 | 2,300 | |
Obligation to return securities received as collateral, at fair value | 7,400 | 15,000 | |
Total | 14,100 | 22,500 | |
Maturity Less than 30 Days [Member] | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 18,900 | 15,700 | |
Securities lending transactions | 0 | 1,700 | |
Obligation to return securities received as collateral, at fair value | 0 | 0 | |
Total | 18,900 | 17,400 | |
Maturity 30 to 90 Days [Member] | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 3,300 | 6,000 | |
Securities lending transactions | 0 | 1,600 | |
Obligation to return securities received as collateral, at fair value | 0 | 0 | |
Total | 3,300 | 7,600 | |
Maturity Greater than 90 Days [Member] | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 6,900 | 9,300 | |
Securities lending transactions | 100 | 10,100 | |
Obligation to return securities received as collateral, at fair value | 0 | 0 | |
Total | 7,000 | 19,400 | |
Bank | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 35,200 | 36,300 | |
Securities lending transactions | 800 | 15,700 | |
Obligation to return securities received as collateral, at fair value | 7,386 | 15,017 | |
Total | 43,400 | 67,000 | |
Bank | Corporate debt securities | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 9,700 | 9,600 | |
Securities lending transactions | 200 | 300 | |
Obligation to return securities received as collateral, at fair value | 800 | 600 | |
Bank | Asset-backed securities | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 2,300 | 4,600 | |
Securities lending transactions | 0 | 300 | |
Obligation to return securities received as collateral, at fair value | 100 | 0 | |
Bank | Equity securities | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 300 | 500 | |
Securities lending transactions | 200 | 1,000 | |
Obligation to return securities received as collateral, at fair value | 2,800 | 10,800 | |
Bank | Other | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 3,600 | 5,600 | |
Securities lending transactions | 200 | 200 | |
Obligation to return securities received as collateral, at fair value | 0 | 0 | |
Bank | Government debt securities | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 19,300 | 16,000 | |
Securities lending transactions | 200 | 13,900 | |
Obligation to return securities received as collateral, at fair value | 3,700 | 3,600 | |
Bank | No stated maturity [Member] | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 6,000 | 5,300 | |
Securities lending transactions | 700 | 2,300 | |
Obligation to return securities received as collateral, at fair value | 7,400 | 15,000 | |
Total | 14,100 | 22,600 | |
Bank | Maturity Less than 30 Days [Member] | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 19,000 | 15,800 | |
Securities lending transactions | 0 | 1,700 | |
Obligation to return securities received as collateral, at fair value | 0 | 0 | |
Total | 19,000 | 17,500 | |
Bank | Maturity 30 to 90 Days [Member] | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 3,300 | 6,000 | |
Securities lending transactions | 0 | 1,600 | |
Obligation to return securities received as collateral, at fair value | 0 | 0 | |
Total | 3,300 | 7,600 | |
Bank | Maturity Greater than 90 Days [Member] | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Securities sold under repurchase agreements | 6,900 | 9,200 | |
Securities lending transactions | 100 | 10,100 | |
Obligation to return securities received as collateral, at fair value | 0 | 0 | |
Total | SFr 7,000 | SFr 19,300 |
Variable interest entities (VIE
Variable interest entities (VIE) - Consolidated (Details 7) SFr in Millions | Jun. 30, 2022 CHF (SFr) day | Mar. 31, 2022 CHF (SFr) | Dec. 31, 2021 CHF (SFr) | Jun. 30, 2021 CHF (SFr) | Dec. 31, 2020 CHF (SFr) | |||||
VIE Disclosures | ||||||||||
Cash and due from banks | SFr 159,472 | [1] | SFr 167,950 | SFr 164,818 | [1] | SFr 146,358 | [1] | SFr 139,112 | [1] | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 104,156 | 95,282 | 103,906 | |||||||
Trading assets | 101,095 | 106,971 | 111,141 | |||||||
Investment securities | 739 | 809 | 1,005 | |||||||
Other investments | 5,783 | 5,794 | 5,826 | |||||||
Net loans | 285,573 | 287,682 | 291,686 | |||||||
Other assets | 43,936 | 44,387 | 41,231 | |||||||
of which loans held-for-sale | 7,515 | 8,642 | 7,924 | |||||||
Assets | 727,365 | 739,554 | 755,833 | |||||||
Customer deposits | 389,484 | 398,624 | 392,819 | |||||||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 21,568 | 27,711 | 35,274 | |||||||
Trading liabilities | 29,967 | 28,184 | 27,535 | |||||||
Short-term borrowings | 20,145 | 17,399 | 19,393 | |||||||
Long-term debt | 158,010 | 160,320 | 166,896 | |||||||
Other liabilities | 23,062 | 21,978 | 22,644 | |||||||
Liabilities | SFr 681,299 | 694,878 | 711,603 | |||||||
CP Conduit | ||||||||||
VIE Disclosures | ||||||||||
Average maturity of CP (in days) | day | 174 | |||||||||
Consolidated VIEs | ||||||||||
VIE Disclosures | ||||||||||
Cash and due from banks | SFr 110 | 122 | 108 | |||||||
Trading assets | 1,801 | 1,841 | 1,822 | |||||||
Other investments | 895 | 946 | 1,015 | |||||||
Net loans | 1,323 | 1,158 | 1,400 | |||||||
Other assets | 2,009 | 1,776 | 1,496 | |||||||
of which loans held-for-sale | 346 | 74 | ||||||||
Premises and equipment | 26 | 27 | ||||||||
Assets | 6,138 | 5,841 | ||||||||
Trading liabilities | 13 | 9 | 8 | |||||||
Short-term borrowings | 4,635 | 4,363 | 4,352 | |||||||
Long-term debt | 1,825 | 1,475 | 1,391 | |||||||
Other liabilities | 223 | SFr 212 | 231 | |||||||
Liabilities | 6,696 | 5,982 | ||||||||
Consolidated VIEs | Collateralized debt or loan obligations | ||||||||||
VIE Disclosures | ||||||||||
Cash and due from banks | 15 | 0 | ||||||||
Trading assets | 1 | 0 | ||||||||
Other investments | 0 | 0 | ||||||||
Net loans | 0 | 0 | ||||||||
Other assets | 250 | 0 | ||||||||
of which loans held-for-sale | 249 | 0 | ||||||||
Premises and equipment | 0 | 0 | ||||||||
Assets | 266 | 0 | ||||||||
Trading liabilities | 3 | 0 | ||||||||
Short-term borrowings | 0 | 0 | ||||||||
Long-term debt | 34 | 0 | ||||||||
Other liabilities | 0 | 0 | ||||||||
Liabilities | 37 | 0 | ||||||||
Consolidated VIEs | CP Conduit | ||||||||||
VIE Disclosures | ||||||||||
Cash and due from banks | 0 | 1 | ||||||||
Trading assets | 0 | 0 | ||||||||
Other investments | 0 | 0 | ||||||||
Net loans | 1,274 | 1,022 | ||||||||
Other assets | 29 | 31 | ||||||||
of which loans held-for-sale | 0 | 0 | ||||||||
Premises and equipment | 0 | 0 | ||||||||
Assets | 1,303 | 1,054 | ||||||||
Trading liabilities | 0 | 0 | ||||||||
Short-term borrowings | 4,620 | 4,337 | ||||||||
Long-term debt | 0 | 0 | ||||||||
Other liabilities | 88 | 67 | ||||||||
Liabilities | 4,708 | 4,404 | ||||||||
Consolidated VIEs | Financial intermediation - Securitizations | ||||||||||
VIE Disclosures | ||||||||||
Cash and due from banks | 46 | 42 | ||||||||
Trading assets | 1,281 | 1,158 | ||||||||
Other investments | 0 | 0 | ||||||||
Net loans | 0 | 317 | ||||||||
Other assets | 886 | 604 | ||||||||
of which loans held-for-sale | 72 | 50 | ||||||||
Premises and equipment | 0 | 0 | ||||||||
Assets | 2,213 | 2,121 | ||||||||
Trading liabilities | 0 | 0 | ||||||||
Short-term borrowings | 0 | 0 | ||||||||
Long-term debt | 1,750 | 1,342 | ||||||||
Other liabilities | 2 | 1 | ||||||||
Liabilities | 1,752 | 1,343 | ||||||||
Consolidated VIEs | Financial intermediation - Funds | ||||||||||
VIE Disclosures | ||||||||||
Cash and due from banks | 11 | 25 | ||||||||
Trading assets | 42 | 54 | ||||||||
Other investments | 69 | 65 | ||||||||
Net loans | 0 | 0 | ||||||||
Other assets | 49 | 78 | ||||||||
of which loans held-for-sale | 25 | 23 | ||||||||
Premises and equipment | 0 | 0 | ||||||||
Assets | 171 | 222 | ||||||||
Trading liabilities | 0 | 0 | ||||||||
Short-term borrowings | 15 | 15 | ||||||||
Long-term debt | 0 | 0 | ||||||||
Other liabilities | 21 | 20 | ||||||||
Liabilities | 36 | 35 | ||||||||
Consolidated VIEs | Financial intermediation - Loans | ||||||||||
VIE Disclosures | ||||||||||
Cash and due from banks | 23 | 27 | ||||||||
Trading assets | 477 | 610 | ||||||||
Other investments | 685 | 789 | ||||||||
Net loans | 16 | 28 | ||||||||
Other assets | 113 | 108 | ||||||||
of which loans held-for-sale | 0 | 0 | ||||||||
Premises and equipment | 26 | 27 | ||||||||
Assets | 1,314 | 1,562 | ||||||||
Trading liabilities | 10 | 8 | ||||||||
Short-term borrowings | 0 | 0 | ||||||||
Long-term debt | 0 | 3 | ||||||||
Other liabilities | 58 | 60 | ||||||||
Liabilities | 68 | 71 | ||||||||
Consolidated VIEs | Financial intermediation - Other | ||||||||||
VIE Disclosures | ||||||||||
Cash and due from banks | 15 | 13 | ||||||||
Trading assets | 0 | 0 | ||||||||
Other investments | 141 | 161 | ||||||||
Net loans | 33 | 33 | ||||||||
Other assets | 682 | 675 | ||||||||
of which loans held-for-sale | 0 | 1 | ||||||||
Premises and equipment | 0 | 0 | ||||||||
Assets | 871 | 882 | ||||||||
Trading liabilities | 0 | 0 | ||||||||
Short-term borrowings | 0 | 0 | ||||||||
Long-term debt | 41 | 46 | ||||||||
Other liabilities | 54 | 83 | ||||||||
Liabilities | 95 | 129 | ||||||||
Bank | ||||||||||
VIE Disclosures | ||||||||||
Cash and due from banks | [2] | 158,700 | 164,026 | SFr 145,367 | SFr 138,207 | |||||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 104,156 | 103,906 | ||||||||
Trading assets | 101,232 | 111,299 | ||||||||
Investment securities | 737 | 1,003 | ||||||||
Other investments | 5,733 | 5,788 | ||||||||
Net loans | 294,005 | 300,358 | ||||||||
Other assets | 39,225 | 36,715 | ||||||||
of which loans held-for-sale | 7,515 | 7,924 | ||||||||
Assets | 730,295 | 759,214 | ||||||||
Customer deposits | 390,762 | 393,841 | ||||||||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 21,662 | 35,368 | ||||||||
Trading liabilities | 29,967 | 27,539 | ||||||||
Short-term borrowings | 25,567 | 25,336 | ||||||||
Long-term debt | 152,348 | 160,695 | ||||||||
Other liabilities | 21,817 | 21,309 | ||||||||
Liabilities | SFr 681,186 | 711,127 | ||||||||
Bank | CP Conduit | ||||||||||
VIE Disclosures | ||||||||||
Average maturity of CP (in days) | day | 174 | |||||||||
Bank | Consolidated VIEs | ||||||||||
VIE Disclosures | ||||||||||
Cash and due from banks | SFr 110 | 108 | ||||||||
Trading assets | 1,801 | 1,822 | ||||||||
Other investments | 895 | 1,015 | ||||||||
Net loans | 1,323 | 1,400 | ||||||||
Other assets | 1,997 | 1,482 | ||||||||
of which loans held-for-sale | 346 | 74 | ||||||||
Premises and equipment | 13 | 12 | ||||||||
Assets | 6,126 | 5,827 | ||||||||
Trading liabilities | 13 | 8 | ||||||||
Short-term borrowings | 4,635 | 4,352 | ||||||||
Long-term debt | 1,825 | 1,391 | ||||||||
Other liabilities | 223 | 233 | ||||||||
Liabilities | 6,696 | 5,984 | ||||||||
Bank | Consolidated VIEs | Collateralized debt or loan obligations | ||||||||||
VIE Disclosures | ||||||||||
Cash and due from banks | 15 | 0 | ||||||||
Trading assets | 1 | 0 | ||||||||
Other investments | 0 | 0 | ||||||||
Net loans | 0 | 0 | ||||||||
Other assets | 250 | 0 | ||||||||
of which loans held-for-sale | 249 | 0 | ||||||||
Premises and equipment | 0 | 0 | ||||||||
Assets | 266 | 0 | ||||||||
Trading liabilities | 3 | 0 | ||||||||
Short-term borrowings | 0 | 0 | ||||||||
Long-term debt | 34 | 0 | ||||||||
Other liabilities | 0 | 0 | ||||||||
Liabilities | 37 | 0 | ||||||||
Bank | Consolidated VIEs | CP Conduit | ||||||||||
VIE Disclosures | ||||||||||
Cash and due from banks | 0 | 1 | ||||||||
Trading assets | 0 | 0 | ||||||||
Other investments | 0 | 0 | ||||||||
Net loans | 1,274 | 1,022 | ||||||||
Other assets | 29 | 31 | ||||||||
of which loans held-for-sale | 0 | 0 | ||||||||
Premises and equipment | 0 | 0 | ||||||||
Assets | 1,303 | 1,054 | ||||||||
Trading liabilities | 0 | 0 | ||||||||
Short-term borrowings | 4,620 | 4,337 | ||||||||
Long-term debt | 0 | 0 | ||||||||
Other liabilities | 88 | 67 | ||||||||
Liabilities | 4,708 | 4,404 | ||||||||
Bank | Consolidated VIEs | Financial intermediation - Securitizations | ||||||||||
VIE Disclosures | ||||||||||
Cash and due from banks | 46 | 42 | ||||||||
Trading assets | 1,281 | 1,158 | ||||||||
Other investments | 0 | 0 | ||||||||
Net loans | 0 | 317 | ||||||||
Other assets | 886 | 604 | ||||||||
of which loans held-for-sale | 72 | 50 | ||||||||
Premises and equipment | 0 | 0 | ||||||||
Assets | 2,213 | 2,121 | ||||||||
Trading liabilities | 0 | 0 | ||||||||
Short-term borrowings | 0 | 0 | ||||||||
Long-term debt | 1,750 | 1,342 | ||||||||
Other liabilities | 2 | 1 | ||||||||
Liabilities | 1,752 | 1,343 | ||||||||
Bank | Consolidated VIEs | Financial intermediation - Funds | ||||||||||
VIE Disclosures | ||||||||||
Cash and due from banks | 11 | 25 | ||||||||
Trading assets | 42 | 54 | ||||||||
Other investments | 69 | 65 | ||||||||
Net loans | 0 | 0 | ||||||||
Other assets | 49 | 78 | ||||||||
of which loans held-for-sale | 25 | 23 | ||||||||
Premises and equipment | 0 | 0 | ||||||||
Assets | 171 | 222 | ||||||||
Trading liabilities | 0 | 0 | ||||||||
Short-term borrowings | 15 | 15 | ||||||||
Long-term debt | 0 | 0 | ||||||||
Other liabilities | 21 | 20 | ||||||||
Liabilities | 36 | 35 | ||||||||
Bank | Consolidated VIEs | Financial intermediation - Loans | ||||||||||
VIE Disclosures | ||||||||||
Cash and due from banks | 23 | 27 | ||||||||
Trading assets | 477 | 610 | ||||||||
Other investments | 685 | 789 | ||||||||
Net loans | 16 | 28 | ||||||||
Other assets | 101 | 95 | ||||||||
of which loans held-for-sale | 0 | 0 | ||||||||
Premises and equipment | 13 | 12 | ||||||||
Assets | 1,302 | 1,549 | ||||||||
Trading liabilities | 10 | 8 | ||||||||
Short-term borrowings | 0 | 0 | ||||||||
Long-term debt | 0 | 3 | ||||||||
Other liabilities | 58 | 61 | ||||||||
Liabilities | 68 | 72 | ||||||||
Bank | Consolidated VIEs | Financial intermediation - Other | ||||||||||
VIE Disclosures | ||||||||||
Cash and due from banks | 15 | 13 | ||||||||
Trading assets | 0 | 0 | ||||||||
Other investments | 141 | 161 | ||||||||
Net loans | 33 | 33 | ||||||||
Other assets | 682 | 674 | ||||||||
of which loans held-for-sale | 0 | 1 | ||||||||
Premises and equipment | 0 | 0 | ||||||||
Assets | 871 | 881 | ||||||||
Trading liabilities | 0 | 0 | ||||||||
Short-term borrowings | 0 | 0 | ||||||||
Long-term debt | 41 | 46 | ||||||||
Other liabilities | 54 | 84 | ||||||||
Liabilities | SFr 95 | SFr 130 | ||||||||
[1]Includes restricted cash.[2]Includes restricted cash. |
VIE - Non-consolidated (Details
VIE - Non-consolidated (Details 8) - CHF (SFr) SFr in Millions | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
VIE Disclosures | |||
Trading assets | SFr 101,095 | SFr 106,971 | SFr 111,141 |
Net loans | 285,573 | 287,682 | 291,686 |
Other assets | 43,936 | 44,387 | 41,231 |
Assets | 727,365 | 739,554 | 755,833 |
Maximum exposure to loss | 37,156 | 41,587 | |
Non-consolidated VIE assets | 367,227 | 298,708 | |
Other liabilities | 23,062 | 21,978 | 22,644 |
Liabilities | 681,299 | SFr 694,878 | 711,603 |
Collateralized debt or loan obligations | |||
VIE Disclosures | |||
Maximum exposure to loss | 1,087 | 774 | |
Non-consolidated VIE assets | 10,819 | 10,266 | |
CP Conduit | |||
VIE Disclosures | |||
Maximum exposure to loss | 8,012 | 7,625 | |
Non-consolidated VIE assets | 16,536 | 14,948 | |
Financial intermediation - Securitizations | |||
VIE Disclosures | |||
Maximum exposure to loss | 7,632 | 8,036 | |
Non-consolidated VIE assets | 153,117 | 108,942 | |
Financial intermediation - Funds | |||
VIE Disclosures | |||
Maximum exposure to loss | 3,651 | 3,447 | |
Non-consolidated VIE assets | 129,284 | 103,179 | |
Financial intermediation - Loans | |||
VIE Disclosures | |||
Maximum exposure to loss | 11,290 | 13,068 | |
Non-consolidated VIE assets | 38,092 | 36,428 | |
Financial intermediation - Other | |||
VIE Disclosures | |||
Maximum exposure to loss | 5,484 | 8,637 | |
Non-consolidated VIE assets | 19,379 | 24,945 | |
Non-consolidated VIEs | |||
VIE Disclosures | |||
Trading assets | 7,506 | 11,222 | |
Net loans | 15,596 | 15,376 | |
Other assets | 1,060 | 768 | |
Assets | 24,162 | 27,366 | |
Non-consolidated VIEs | Collateralized debt or loan obligations | |||
VIE Disclosures | |||
Trading assets | 228 | 257 | |
Net loans | 579 | 268 | |
Other assets | 6 | 6 | |
Assets | 813 | 531 | |
Non-consolidated VIEs | CP Conduit | |||
VIE Disclosures | |||
Trading assets | 0 | 0 | |
Net loans | 1,312 | 1,005 | |
Other assets | 0 | 0 | |
Assets | 1,312 | 1,005 | |
Non-consolidated VIEs | Financial intermediation - Securitizations | |||
VIE Disclosures | |||
Trading assets | 4,399 | 4,526 | |
Net loans | 1,230 | 940 | |
Other assets | 104 | 22 | |
Assets | 5,733 | 5,488 | |
Non-consolidated VIEs | Financial intermediation - Funds | |||
VIE Disclosures | |||
Trading assets | 777 | 932 | |
Net loans | 2,726 | 2,403 | |
Other assets | 148 | 112 | |
Assets | 3,651 | 3,447 | |
Non-consolidated VIEs | Financial intermediation - Loans | |||
VIE Disclosures | |||
Trading assets | 7 | 13 | |
Net loans | 7,669 | 8,774 | |
Other assets | 5 | 0 | |
Assets | 7,681 | 8,787 | |
Non-consolidated VIEs | Financial intermediation - Other | |||
VIE Disclosures | |||
Trading assets | 2,095 | 5,494 | |
Net loans | 2,080 | 1,986 | |
Other assets | 797 | 628 | |
Assets | 4,972 | 8,108 | |
Bank | |||
VIE Disclosures | |||
Trading assets | 101,232 | 111,299 | |
Net loans | 294,005 | 300,358 | |
Other assets | 39,225 | 36,715 | |
Assets | 730,295 | 759,214 | |
Other liabilities | 21,817 | 21,309 | |
Liabilities | 681,186 | 711,127 | |
Bank | Non-consolidated VIEs | |||
VIE Disclosures | |||
Trading assets | 7,505 | 11,222 | |
Net loans | 15,596 | 15,376 | |
Other assets | 1,058 | 765 | |
Assets | 24,159 | 27,363 | |
Maximum exposure to loss | 37,153 | 41,584 | |
Non-consolidated VIE assets | 364,978 | 293,208 | |
Bank | Non-consolidated VIEs | Collateralized debt or loan obligations | |||
VIE Disclosures | |||
Trading assets | 228 | 257 | |
Net loans | 579 | 268 | |
Other assets | 6 | 6 | |
Assets | 813 | 531 | |
Maximum exposure to loss | 1,087 | 774 | |
Non-consolidated VIE assets | 10,819 | 10,266 | |
Bank | Non-consolidated VIEs | CP Conduit | |||
VIE Disclosures | |||
Trading assets | 0 | 0 | |
Net loans | 1,312 | 1,005 | |
Other assets | 0 | 0 | |
Assets | 1,312 | 1,005 | |
Maximum exposure to loss | 8,012 | 7,625 | |
Non-consolidated VIE assets | 16,536 | 14,948 | |
Bank | Non-consolidated VIEs | Financial intermediation - Securitizations | |||
VIE Disclosures | |||
Trading assets | 4,399 | 4,526 | |
Net loans | 1,230 | 940 | |
Other assets | 104 | 22 | |
Assets | 5,733 | 5,488 | |
Maximum exposure to loss | 7,632 | 8,036 | |
Non-consolidated VIE assets | 153,117 | 108,942 | |
Bank | Non-consolidated VIEs | Financial intermediation - Funds | |||
VIE Disclosures | |||
Trading assets | 776 | 932 | |
Net loans | 2,726 | 2,403 | |
Other assets | 146 | 109 | |
Assets | 3,648 | 3,444 | |
Maximum exposure to loss | 3,648 | 3,444 | |
Non-consolidated VIE assets | 129,154 | 102,820 | |
Bank | Non-consolidated VIEs | Financial intermediation - Loans | |||
VIE Disclosures | |||
Trading assets | 7 | 13 | |
Net loans | 7,669 | 8,774 | |
Other assets | 5 | 0 | |
Assets | 7,681 | 8,787 | |
Maximum exposure to loss | 11,290 | 13,068 | |
Non-consolidated VIE assets | 38,092 | 36,428 | |
Bank | Non-consolidated VIEs | Financial intermediation - Other | |||
VIE Disclosures | |||
Trading assets | 2,095 | 5,494 | |
Net loans | 2,080 | 1,986 | |
Other assets | 797 | 628 | |
Assets | 4,972 | 8,108 | |
Maximum exposure to loss | 5,484 | 8,637 | |
Non-consolidated VIE assets | SFr 17,260 | SFr 19,804 |
Financial instruments (FI) - As
Financial instruments (FI) - Assets measured at fair value (Details 2) - CHF (SFr) SFr in Millions | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
Assets | |||
Cash and Due from Banks | SFr 165 | SFr 148 | SFr 308 |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 82,392 | 71,059 | 68,623 |
Securities received as collateral | 7,386 | 8,084 | 15,017 |
Trading assets | 101,095 | 106,971 | 111,141 |
Available-for-sale Securities, Debt Securities | 739 | 809 | 1,005 |
Other investments | 3,987 | 4,019 | 4,094 |
Loans | 9,099 | 9,545 | 10,243 |
Other intangible assets (mortgage servicing rights), at fair value | 290 | 256 | 224 |
Other assets | 8,616 | 9,214 | 9,184 |
Other assets - of which failed purchases | 1,041 | SFr 1,111 | 1,307 |
Netting impact | (94,900) | (95,000) | |
Recurring basis | |||
Assets | |||
Cash and Due from Banks | 165 | 308 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 82,392 | 68,623 | |
Securities received as collateral | 7,386 | 15,017 | |
Trading assets | 101,095 | 111,141 | |
Available-for-sale Securities, Debt Securities | 739 | 1,005 | |
Other investments | 3,987 | 4,094 | |
Loans | 9,099 | 10,243 | |
Loans - of which commercial and industrial | 3,634 | 2,984 | |
Loans - of which financial institutions | 3,111 | 4,305 | |
Other intangible assets (mortgage servicing rights), at fair value | 290 | 224 | |
Other assets | 8,616 | 9,184 | |
Other assets - of which loans held-for-sale | 7,117 | 7,380 | |
Other assets - of which failed purchases | 982 | 1,244 | |
Netting impact | (94,917) | (95,014) | |
Total assets at fair value | 213,769 | 219,839 | |
Recurring basis | Other equity investments | |||
Assets | |||
Other investments | 3,217 | 3,237 | |
Recurring basis | Life finance instruments | |||
Assets | |||
Other investments | 685 | 789 | |
Recurring basis | Debt securities | |||
Assets | |||
Trading assets | 57,030 | 54,198 | |
Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Assets | |||
Trading assets | 24,193 | 23,408 | |
Recurring basis | Debt securities | Corporate debt securities | |||
Assets | |||
Trading assets | 10,573 | 9,590 | |
Recurring basis | Debt securities | RMBS | |||
Assets | |||
Trading assets | 18,543 | 17,457 | |
Recurring basis | Equity securities | |||
Assets | |||
Trading assets | 24,711 | 36,546 | |
Recurring basis | Derivative instruments | |||
Assets | |||
Trading assets | 16,069 | 17,559 | |
Netting impact | (94,491) | (94,633) | |
Recurring basis | Trading assets | |||
Assets | |||
Netting impact | (94,491) | (94,633) | |
Recurring basis | Other | |||
Assets | |||
Trading assets | 3,285 | 2,838 | |
Recurring basis | Other assets | |||
Assets | |||
Netting impact | (426) | (381) | |
Recurring basis | Level 1 | |||
Assets | |||
Cash and Due from Banks | 0 | 0 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 35 | 0 | |
Securities received as collateral | 6,132 | 13,848 | |
Trading assets | 50,197 | 54,085 | |
Available-for-sale Securities, Debt Securities | 2 | 2 | |
Other investments | 0 | 0 | |
Loans | 0 | 0 | |
Loans - of which commercial and industrial | 0 | 0 | |
Loans - of which financial institutions | 0 | 0 | |
Other intangible assets (mortgage servicing rights), at fair value | 0 | 0 | |
Other assets | 115 | 121 | |
Other assets - of which loans held-for-sale | 0 | 0 | |
Other assets - of which failed purchases | 97 | 98 | |
Total assets at fair value | 56,481 | 68,056 | |
Recurring basis | Level 1 | Other equity investments | |||
Assets | |||
Other investments | 0 | 0 | |
Recurring basis | Level 1 | Life finance instruments | |||
Assets | |||
Other investments | 0 | 0 | |
Recurring basis | Level 1 | Debt securities | |||
Assets | |||
Trading assets | 13,814 | 12,191 | |
Recurring basis | Level 1 | Debt securities | Debt securities issued by foreign governments | |||
Assets | |||
Trading assets | 13,504 | 11,996 | |
Recurring basis | Level 1 | Debt securities | Corporate debt securities | |||
Assets | |||
Trading assets | 34 | 72 | |
Recurring basis | Level 1 | Debt securities | RMBS | |||
Assets | |||
Trading assets | 6 | 0 | |
Recurring basis | Level 1 | Equity securities | |||
Assets | |||
Trading assets | 23,000 | 34,282 | |
Recurring basis | Level 1 | Derivative instruments | |||
Assets | |||
Trading assets | 11,584 | 6,224 | |
Recurring basis | Level 1 | Derivative instruments | Interest rate derivatives | |||
Assets | |||
Trading assets | 3,979 | 721 | |
Recurring basis | Level 1 | Derivative instruments | Foreign exchange derivatives | |||
Assets | |||
Trading assets | 103 | 123 | |
Recurring basis | Level 1 | Derivative instruments | Equity/Index-related products | |||
Assets | |||
Trading assets | 7,469 | 5,348 | |
Recurring basis | Level 1 | Derivative instruments | Other derivatives | |||
Assets | |||
Trading assets | 1 | 0 | |
Recurring basis | Level 1 | Other | |||
Assets | |||
Trading assets | 1,799 | 1,388 | |
Recurring basis | Level 2 | |||
Assets | |||
Cash and Due from Banks | 165 | 308 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 82,357 | 68,623 | |
Securities received as collateral | 1,254 | 1,155 | |
Trading assets | 140,406 | 146,521 | |
Available-for-sale Securities, Debt Securities | 737 | 1,003 | |
Other investments | 20 | 23 | |
Loans | 7,910 | 8,709 | |
Loans - of which commercial and industrial | 3,266 | 2,267 | |
Loans - of which financial institutions | 2,747 | 3,840 | |
Other intangible assets (mortgage servicing rights), at fair value | 35 | 57 | |
Other assets | 8,205 | 8,750 | |
Other assets - of which loans held-for-sale | 6,551 | 6,818 | |
Other assets - of which failed purchases | 874 | 1,135 | |
Total assets at fair value | 241,089 | 235,149 | |
Recurring basis | Level 2 | Other equity investments | |||
Assets | |||
Other investments | 20 | 23 | |
Recurring basis | Level 2 | Life finance instruments | |||
Assets | |||
Other investments | 0 | 0 | |
Recurring basis | Level 2 | Debt securities | |||
Assets | |||
Trading assets | 42,184 | 40,700 | |
Recurring basis | Level 2 | Debt securities | Debt securities issued by foreign governments | |||
Assets | |||
Trading assets | 10,598 | 11,377 | |
Recurring basis | Level 2 | Debt securities | Corporate debt securities | |||
Assets | |||
Trading assets | 10,213 | 8,958 | |
Recurring basis | Level 2 | Debt securities | RMBS | |||
Assets | |||
Trading assets | 18,127 | 17,033 | |
Recurring basis | Level 2 | Equity securities | |||
Assets | |||
Trading assets | 880 | 1,486 | |
Recurring basis | Level 2 | Derivative instruments | |||
Assets | |||
Trading assets | 96,578 | 103,781 | |
Recurring basis | Level 2 | Derivative instruments | Interest rate derivatives | |||
Assets | |||
Trading assets | 38,590 | 47,934 | |
Recurring basis | Level 2 | Derivative instruments | Foreign exchange derivatives | |||
Assets | |||
Trading assets | 30,751 | 20,686 | |
Recurring basis | Level 2 | Derivative instruments | Equity/Index-related products | |||
Assets | |||
Trading assets | 23,247 | 29,808 | |
Recurring basis | Level 2 | Derivative instruments | Other derivatives | |||
Assets | |||
Trading assets | 506 | 196 | |
Recurring basis | Level 2 | Other | |||
Assets | |||
Trading assets | 764 | 554 | |
Recurring basis | Level 3 | |||
Assets | |||
Cash and Due from Banks | 0 | 0 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 0 | 0 | |
Securities received as collateral | 0 | 14 | |
Trading assets | 4,400 | 4,503 | |
Available-for-sale Securities, Debt Securities | 0 | 0 | |
Other investments | 3,575 | 3,666 | |
Loans | 1,189 | 1,534 | |
Loans - of which commercial and industrial | 368 | 717 | |
Loans - of which financial institutions | 364 | 465 | |
Other intangible assets (mortgage servicing rights), at fair value | 255 | 167 | |
Other assets | 722 | 694 | |
Other assets - of which loans held-for-sale | 566 | 562 | |
Other assets - of which failed purchases | 11 | 11 | |
Total assets at fair value | 10,141 | 10,578 | |
Recurring basis | Level 3 | Other equity investments | |||
Assets | |||
Other investments | 2,876 | 2,863 | |
Recurring basis | Level 3 | Life finance instruments | |||
Assets | |||
Other investments | 685 | 789 | |
Recurring basis | Level 3 | Debt securities | |||
Assets | |||
Trading assets | 1,005 | 1,225 | |
Recurring basis | Level 3 | Debt securities | Debt securities issued by foreign governments | |||
Assets | |||
Trading assets | 91 | 35 | |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | |||
Assets | |||
Trading assets | 299 | 478 | |
Recurring basis | Level 3 | Debt securities | RMBS | |||
Assets | |||
Trading assets | 410 | 424 | |
Recurring basis | Level 3 | Equity securities | |||
Assets | |||
Trading assets | 275 | 195 | |
Recurring basis | Level 3 | Derivative instruments | |||
Assets | |||
Trading assets | 2,398 | 2,187 | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | |||
Assets | |||
Trading assets | 925 | 624 | |
Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | |||
Assets | |||
Trading assets | 88 | 53 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | |||
Assets | |||
Trading assets | 464 | 212 | |
Recurring basis | Level 3 | Derivative instruments | Other derivatives | |||
Assets | |||
Trading assets | 706 | 1,034 | |
Recurring basis | Level 3 | Other | |||
Assets | |||
Trading assets | 722 | 896 | |
Recurring basis | Fair value measured at net asset value per share | |||
Assets | |||
Trading assets | 583 | 665 | |
Other investments | 392 | 405 | |
Total assets at fair value | 975 | 1,070 | |
Recurring basis | Fair value measured at net asset value per share | Other equity investments | |||
Assets | |||
Other investments | 321 | 351 | |
Recurring basis | Fair value measured at net asset value per share | Debt securities | |||
Assets | |||
Trading assets | 27 | 82 | |
Recurring basis | Fair value measured at net asset value per share | Debt securities | Corporate debt securities | |||
Assets | |||
Trading assets | 27 | 82 | |
Recurring basis | Fair value measured at net asset value per share | Equity securities | |||
Assets | |||
Trading assets | 556 | 583 | |
Bank | |||
Assets | |||
Cash and Due from Banks | 165 | 308 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 82,392 | 68,623 | |
Securities received as collateral | 7,386 | 15,017 | |
Trading assets | 101,232 | 111,299 | |
Available-for-sale Securities, Debt Securities | 737 | 1,003 | |
Other investments | 3,985 | 4,093 | |
Loans | 9,099 | 10,243 | |
Other intangible assets (mortgage servicing rights), at fair value | 290 | 224 | |
Other assets | 8,616 | 9,184 | |
Other assets - of which failed purchases | 1,041 | 1,307 | |
Netting impact | (95,500) | (95,100) | |
Bank | Recurring basis | |||
Assets | |||
Cash and Due from Banks | 165 | 308 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 82,392 | 68,623 | |
Securities received as collateral | 7,386 | 15,017 | |
Trading assets | 101,232 | 111,299 | |
Available-for-sale Securities, Debt Securities | 737 | 1,003 | |
Other investments | 3,985 | 4,093 | |
Loans | 9,099 | 10,243 | |
Loans - of which commercial and industrial | 3,634 | 2,984 | |
Loans - of which financial institutions | 3,111 | 4,305 | |
Other intangible assets (mortgage servicing rights), at fair value | 290 | 224 | |
Other assets | 8,616 | 9,184 | |
Other assets - of which loans held-for-sale | 7,117 | 7,380 | |
Other assets - of which failed purchases | 982 | 1,244 | |
Netting impact | (95,497) | (95,163) | |
Total assets at fair value | 213,902 | 219,994 | |
Bank | Recurring basis | Other equity investments | |||
Assets | |||
Other investments | 3,216 | 3,237 | |
Bank | Recurring basis | Life finance instruments | |||
Assets | |||
Other investments | 685 | 789 | |
Bank | Recurring basis | Debt securities | |||
Assets | |||
Trading assets | 57,130 | 54,297 | |
Bank | Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Assets | |||
Trading assets | 24,193 | 23,408 | |
Bank | Recurring basis | Debt securities | Corporate debt securities | |||
Assets | |||
Trading assets | 10,672 | 9,689 | |
Bank | Recurring basis | Debt securities | RMBS | |||
Assets | |||
Trading assets | 18,543 | 17,457 | |
Bank | Recurring basis | Equity securities | |||
Assets | |||
Trading assets | 24,748 | 36,606 | |
Bank | Recurring basis | Derivative instruments | |||
Assets | |||
Trading assets | 16,069 | 17,559 | |
Netting impact | (95,071) | (94,782) | |
Bank | Recurring basis | Trading assets | |||
Assets | |||
Netting impact | (95,071) | (94,782) | |
Bank | Recurring basis | Other | |||
Assets | |||
Trading assets | 3,285 | 2,837 | |
Bank | Recurring basis | Other assets | |||
Assets | |||
Netting impact | (426) | (381) | |
Bank | Recurring basis | Level 1 | |||
Assets | |||
Cash and Due from Banks | 0 | 0 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 35 | 0 | |
Securities received as collateral | 6,132 | 13,848 | |
Trading assets | 50,235 | 54,145 | |
Available-for-sale Securities, Debt Securities | 0 | 0 | |
Other investments | 0 | 0 | |
Loans | 0 | 0 | |
Loans - of which commercial and industrial | 0 | 0 | |
Loans - of which financial institutions | 0 | 0 | |
Other intangible assets (mortgage servicing rights), at fair value | 0 | 0 | |
Other assets | 115 | 121 | |
Other assets - of which loans held-for-sale | 0 | 0 | |
Other assets - of which failed purchases | 97 | 98 | |
Total assets at fair value | 56,517 | 68,114 | |
Bank | Recurring basis | Level 1 | Other equity investments | |||
Assets | |||
Other investments | 0 | 0 | |
Bank | Recurring basis | Level 1 | Life finance instruments | |||
Assets | |||
Other investments | 0 | 0 | |
Bank | Recurring basis | Level 1 | Debt securities | |||
Assets | |||
Trading assets | 13,814 | 12,191 | |
Bank | Recurring basis | Level 1 | Debt securities | Debt securities issued by foreign governments | |||
Assets | |||
Trading assets | 13,504 | 11,996 | |
Bank | Recurring basis | Level 1 | Debt securities | Corporate debt securities | |||
Assets | |||
Trading assets | 34 | 72 | |
Bank | Recurring basis | Level 1 | Debt securities | RMBS | |||
Assets | |||
Trading assets | 6 | 0 | |
Bank | Recurring basis | Level 1 | Equity securities | |||
Assets | |||
Trading assets | 23,037 | 34,342 | |
Bank | Recurring basis | Level 1 | Derivative instruments | |||
Assets | |||
Trading assets | 11,584 | 6,224 | |
Bank | Recurring basis | Level 1 | Derivative instruments | Interest rate derivatives | |||
Assets | |||
Trading assets | 3,979 | 721 | |
Bank | Recurring basis | Level 1 | Derivative instruments | Foreign exchange derivatives | |||
Assets | |||
Trading assets | 103 | 123 | |
Bank | Recurring basis | Level 1 | Derivative instruments | Equity/Index-related products | |||
Assets | |||
Trading assets | 7,469 | 5,348 | |
Bank | Recurring basis | Level 1 | Derivative instruments | Other derivatives | |||
Assets | |||
Trading assets | 1 | 0 | |
Bank | Recurring basis | Level 1 | Other | |||
Assets | |||
Trading assets | 1,800 | 1,388 | |
Bank | Recurring basis | Level 2 | |||
Assets | |||
Cash and Due from Banks | 165 | 308 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 82,357 | 68,623 | |
Securities received as collateral | 1,254 | 1,155 | |
Trading assets | 141,085 | 146,768 | |
Available-for-sale Securities, Debt Securities | 737 | 1,003 | |
Other investments | 20 | 23 | |
Loans | 7,910 | 8,709 | |
Loans - of which commercial and industrial | 3,266 | 2,267 | |
Loans - of which financial institutions | 2,747 | 3,840 | |
Other intangible assets (mortgage servicing rights), at fair value | 35 | 57 | |
Other assets | 8,205 | 8,750 | |
Other assets - of which loans held-for-sale | 6,551 | 6,818 | |
Other assets - of which failed purchases | 874 | 1,135 | |
Total assets at fair value | 241,768 | 235,396 | |
Bank | Recurring basis | Level 2 | Other equity investments | |||
Assets | |||
Other investments | 20 | 23 | |
Bank | Recurring basis | Level 2 | Life finance instruments | |||
Assets | |||
Other investments | 0 | 0 | |
Bank | Recurring basis | Level 2 | Debt securities | |||
Assets | |||
Trading assets | 42,284 | 40,799 | |
Bank | Recurring basis | Level 2 | Debt securities | Debt securities issued by foreign governments | |||
Assets | |||
Trading assets | 10,598 | 11,377 | |
Bank | Recurring basis | Level 2 | Debt securities | Corporate debt securities | |||
Assets | |||
Trading assets | 10,312 | 9,057 | |
Bank | Recurring basis | Level 2 | Debt securities | RMBS | |||
Assets | |||
Trading assets | 18,127 | 17,033 | |
Bank | Recurring basis | Level 2 | Equity securities | |||
Assets | |||
Trading assets | 880 | 1,486 | |
Bank | Recurring basis | Level 2 | Derivative instruments | |||
Assets | |||
Trading assets | 97,158 | 103,930 | |
Bank | Recurring basis | Level 2 | Derivative instruments | Interest rate derivatives | |||
Assets | |||
Trading assets | 39,170 | 48,083 | |
Bank | Recurring basis | Level 2 | Derivative instruments | Foreign exchange derivatives | |||
Assets | |||
Trading assets | 30,751 | 20,686 | |
Bank | Recurring basis | Level 2 | Derivative instruments | Equity/Index-related products | |||
Assets | |||
Trading assets | 23,247 | 29,808 | |
Bank | Recurring basis | Level 2 | Derivative instruments | Other derivatives | |||
Assets | |||
Trading assets | 506 | 196 | |
Bank | Recurring basis | Level 2 | Other | |||
Assets | |||
Trading assets | 763 | 553 | |
Bank | Recurring basis | Level 3 | |||
Assets | |||
Cash and Due from Banks | 0 | 0 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 0 | 0 | |
Securities received as collateral | 0 | 14 | |
Trading assets | 4,400 | 4,503 | |
Available-for-sale Securities, Debt Securities | 0 | 0 | |
Other investments | 3,574 | 3,666 | |
Loans | 1,189 | 1,534 | |
Loans - of which commercial and industrial | 368 | 717 | |
Loans - of which financial institutions | 364 | 465 | |
Other intangible assets (mortgage servicing rights), at fair value | 255 | 167 | |
Other assets | 722 | 694 | |
Other assets - of which loans held-for-sale | 566 | 562 | |
Other assets - of which failed purchases | 11 | 11 | |
Total assets at fair value | 10,140 | 10,578 | |
Bank | Recurring basis | Level 3 | Other equity investments | |||
Assets | |||
Other investments | 2,875 | 2,863 | |
Bank | Recurring basis | Level 3 | Life finance instruments | |||
Assets | |||
Other investments | 685 | 789 | |
Bank | Recurring basis | Level 3 | Debt securities | |||
Assets | |||
Trading assets | 1,005 | 1,225 | |
Bank | Recurring basis | Level 3 | Debt securities | Debt securities issued by foreign governments | |||
Assets | |||
Trading assets | 91 | 35 | |
Bank | Recurring basis | Level 3 | Debt securities | Corporate debt securities | |||
Assets | |||
Trading assets | 299 | 478 | |
Bank | Recurring basis | Level 3 | Debt securities | RMBS | |||
Assets | |||
Trading assets | 410 | 424 | |
Bank | Recurring basis | Level 3 | Equity securities | |||
Assets | |||
Trading assets | 275 | 195 | |
Bank | Recurring basis | Level 3 | Derivative instruments | |||
Assets | |||
Trading assets | 2,398 | 2,187 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | |||
Assets | |||
Trading assets | 925 | 624 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | |||
Assets | |||
Trading assets | 88 | 53 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | |||
Assets | |||
Trading assets | 464 | 212 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Other derivatives | |||
Assets | |||
Trading assets | 706 | 1,034 | |
Bank | Recurring basis | Level 3 | Other | |||
Assets | |||
Trading assets | 722 | 896 | |
Bank | Recurring basis | Fair value measured at net asset value per share | |||
Assets | |||
Trading assets | 583 | 665 | |
Other investments | 391 | 404 | |
Total assets at fair value | 974 | 1,069 | |
Bank | Recurring basis | Fair value measured at net asset value per share | Other equity investments | |||
Assets | |||
Other investments | 321 | 351 | |
Bank | Recurring basis | Fair value measured at net asset value per share | Debt securities | |||
Assets | |||
Trading assets | 27 | 82 | |
Bank | Recurring basis | Fair value measured at net asset value per share | Debt securities | Corporate debt securities | |||
Assets | |||
Trading assets | 27 | 82 | |
Bank | Recurring basis | Fair value measured at net asset value per share | Equity securities | |||
Assets | |||
Trading assets | SFr 556 | SFr 583 |
FI - Liabilities measured at fa
FI - Liabilities measured at fair value (Details 3) - CHF (SFr) SFr in Millions | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
Liabilities | |||
Due to banks | SFr 355 | SFr 404 | SFr 477 |
Customer deposits | 3,307 | 3,437 | 3,700 |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 14,145 | 12,766 | 13,213 |
Obligation to return securities received as collateral | 7,386 | 8,084 | 15,017 |
Trading liabilities | 29,967 | 28,184 | 27,535 |
Short-term borrowings | 10,049 | 8,225 | 10,690 |
Long-term debt | 66,140 | 66,270 | 68,722 |
Other liabilities | 2,620 | SFr 2,562 | 2,592 |
Netting impact | (99,800) | (100,900) | |
Recurring basis | |||
Liabilities | |||
Due to banks | 355 | 477 | |
Customer deposits | 3,307 | 3,700 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 14,145 | 13,213 | |
Obligation to return securities received as collateral | 7,386 | 15,017 | |
Trading liabilities | 29,967 | 27,535 | |
Short-term borrowings | 10,049 | 10,690 | |
Long-term debt | 66,140 | 68,722 | |
Other liabilities | 2,620 | 2,592 | |
Netting impact | (99,760) | (100,827) | |
Total liabilities at fair value | 133,969 | 141,946 | |
Recurring basis | Long-term debt - of which structured notes over one year and up to two years | |||
Liabilities | |||
Long-term debt | 12,988 | 12,500 | |
Recurring basis | Long-term debt - of which structured notes over two years | |||
Liabilities | |||
Long-term debt | 28,814 | 30,486 | |
Recurring basis | Long-term debt - of which other debt instruments over two years | |||
Liabilities | |||
Long-term debt | 4,967 | 5,077 | |
Recurring basis | Long-term debt - of which high-trigger instruments | |||
Liabilities | |||
Long-term debt | 10,593 | 10,702 | |
Recurring basis | Debt securities | |||
Liabilities | |||
Trading liabilities | 7,913 | 7,677 | |
Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Liabilities | |||
Trading liabilities | 3,701 | 3,635 | |
Recurring basis | Debt securities | Corporate debt securities | |||
Liabilities | |||
Trading liabilities | 4,161 | 3,955 | |
Recurring basis | Equity securities | |||
Liabilities | |||
Trading liabilities | 6,102 | 9,012 | |
Recurring basis | Short positions | |||
Liabilities | |||
Trading liabilities | 14,015 | 16,689 | |
Recurring basis | Derivative instruments | |||
Liabilities | |||
Trading liabilities | 15,952 | 10,846 | |
Netting impact | (97,772) | (100,522) | |
Recurring basis | Derivative instruments | Other derivatives | |||
Liabilities | |||
Trading liabilities | 296 | ||
Recurring basis | Trading liabilities | |||
Liabilities | |||
Netting impact | (97,772) | (100,522) | |
Recurring basis | Other liabilities | |||
Liabilities | |||
Netting impact | (1,988) | (305) | |
Recurring basis | Level 1 | |||
Liabilities | |||
Due to banks | 0 | 0 | |
Customer deposits | 0 | 0 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 0 | 0 | |
Obligation to return securities received as collateral | 6,132 | 13,848 | |
Trading liabilities | 22,375 | 19,419 | |
Short-term borrowings | 0 | 0 | |
Long-term debt | 0 | 0 | |
Other liabilities | 207 | 348 | |
Total liabilities at fair value | 28,714 | 33,615 | |
Recurring basis | Level 1 | Long-term debt - of which structured notes over one year and up to two years | |||
Liabilities | |||
Long-term debt | 0 | 0 | |
Recurring basis | Level 1 | Long-term debt - of which structured notes over two years | |||
Liabilities | |||
Long-term debt | 0 | 0 | |
Recurring basis | Level 1 | Long-term debt - of which other debt instruments over two years | |||
Liabilities | |||
Long-term debt | 0 | 0 | |
Recurring basis | Level 1 | Long-term debt - of which high-trigger instruments | |||
Liabilities | |||
Long-term debt | 0 | 0 | |
Recurring basis | Level 1 | Debt securities | |||
Liabilities | |||
Trading liabilities | 3,565 | 2,809 | |
Recurring basis | Level 1 | Debt securities | Debt securities issued by foreign governments | |||
Liabilities | |||
Trading liabilities | 2,914 | 2,667 | |
Recurring basis | Level 1 | Debt securities | Corporate debt securities | |||
Liabilities | |||
Trading liabilities | 603 | 113 | |
Recurring basis | Level 1 | Equity securities | |||
Liabilities | |||
Trading liabilities | 5,865 | 8,880 | |
Recurring basis | Level 1 | Short positions | |||
Liabilities | |||
Trading liabilities | 9,430 | 11,689 | |
Recurring basis | Level 1 | Derivative instruments | |||
Liabilities | |||
Trading liabilities | 12,945 | 7,730 | |
Recurring basis | Level 1 | Derivative instruments | Interest rate derivatives | |||
Liabilities | |||
Trading liabilities | 4,031 | 776 | |
Recurring basis | Level 1 | Derivative instruments | Foreign exchange derivatives | |||
Liabilities | |||
Trading liabilities | 107 | 133 | |
Recurring basis | Level 1 | Derivative instruments | Equity/Index-related products | |||
Liabilities | |||
Trading liabilities | 8,765 | 6,812 | |
Recurring basis | Level 1 | Derivative instruments | Other derivatives | |||
Liabilities | |||
Trading liabilities | 11 | ||
Recurring basis | Level 2 | |||
Liabilities | |||
Due to banks | 355 | 477 | |
Customer deposits | 3,008 | 3,306 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 14,145 | 13,213 | |
Obligation to return securities received as collateral | 1,254 | 1,155 | |
Trading liabilities | 102,907 | 105,828 | |
Short-term borrowings | 9,333 | 9,658 | |
Long-term debt | 59,484 | 59,046 | |
Other liabilities | 3,906 | 2,031 | |
Total liabilities at fair value | 194,392 | 194,714 | |
Recurring basis | Level 2 | Long-term debt - of which structured notes over one year and up to two years | |||
Liabilities | |||
Long-term debt | 12,668 | 11,036 | |
Recurring basis | Level 2 | Long-term debt - of which structured notes over two years | |||
Liabilities | |||
Long-term debt | 24,431 | 24,168 | |
Recurring basis | Level 2 | Long-term debt - of which other debt instruments over two years | |||
Liabilities | |||
Long-term debt | 3,141 | 3,223 | |
Recurring basis | Level 2 | Long-term debt - of which high-trigger instruments | |||
Liabilities | |||
Long-term debt | 10,593 | 10,702 | |
Recurring basis | Level 2 | Debt securities | |||
Liabilities | |||
Trading liabilities | 4,341 | 4,865 | |
Recurring basis | Level 2 | Debt securities | Debt securities issued by foreign governments | |||
Liabilities | |||
Trading liabilities | 787 | 968 | |
Recurring basis | Level 2 | Debt securities | Corporate debt securities | |||
Liabilities | |||
Trading liabilities | 3,551 | 3,839 | |
Recurring basis | Level 2 | Equity securities | |||
Liabilities | |||
Trading liabilities | 189 | 109 | |
Recurring basis | Level 2 | Short positions | |||
Liabilities | |||
Trading liabilities | 4,530 | 4,974 | |
Recurring basis | Level 2 | Derivative instruments | |||
Liabilities | |||
Trading liabilities | 98,377 | 100,854 | |
Recurring basis | Level 2 | Derivative instruments | Interest rate derivatives | |||
Liabilities | |||
Trading liabilities | 37,410 | 44,003 | |
Recurring basis | Level 2 | Derivative instruments | Foreign exchange derivatives | |||
Liabilities | |||
Trading liabilities | 30,864 | 22,646 | |
Recurring basis | Level 2 | Derivative instruments | Equity/Index-related products | |||
Liabilities | |||
Trading liabilities | 25,670 | 27,919 | |
Recurring basis | Level 2 | Derivative instruments | Other derivatives | |||
Liabilities | |||
Trading liabilities | 213 | ||
Recurring basis | Level 3 | |||
Liabilities | |||
Due to banks | 0 | 0 | |
Customer deposits | 299 | 394 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 0 | 0 | |
Obligation to return securities received as collateral | 0 | 14 | |
Trading liabilities | 2,456 | 2,809 | |
Short-term borrowings | 716 | 1,032 | |
Long-term debt | 6,656 | 9,676 | |
Other liabilities | 495 | 518 | |
Total liabilities at fair value | 10,622 | 14,443 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | |||
Liabilities | |||
Long-term debt | 320 | 1,464 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | |||
Liabilities | |||
Long-term debt | 4,383 | 6,318 | |
Recurring basis | Level 3 | Long-term debt - of which other debt instruments over two years | |||
Liabilities | |||
Long-term debt | 1,826 | 1,854 | |
Recurring basis | Level 3 | Long-term debt - of which high-trigger instruments | |||
Liabilities | |||
Long-term debt | 0 | 0 | |
Recurring basis | Level 3 | Debt securities | |||
Liabilities | |||
Trading liabilities | 7 | 3 | |
Recurring basis | Level 3 | Debt securities | Debt securities issued by foreign governments | |||
Liabilities | |||
Trading liabilities | 0 | 0 | |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | |||
Liabilities | |||
Trading liabilities | 7 | 3 | |
Recurring basis | Level 3 | Equity securities | |||
Liabilities | |||
Trading liabilities | 47 | 22 | |
Recurring basis | Level 3 | Short positions | |||
Liabilities | |||
Trading liabilities | 54 | 25 | |
Recurring basis | Level 3 | Derivative instruments | |||
Liabilities | |||
Trading liabilities | 2,402 | 2,784 | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | |||
Liabilities | |||
Trading liabilities | 55 | 26 | |
Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | |||
Liabilities | |||
Trading liabilities | 14 | 57 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | |||
Liabilities | |||
Trading liabilities | 1,447 | 1,787 | |
Recurring basis | Level 3 | Derivative instruments | Other derivatives | |||
Liabilities | |||
Trading liabilities | 560 | ||
Recurring basis | Fair value measured at net asset value per share | |||
Liabilities | |||
Trading liabilities | 1 | 1 | |
Total liabilities at fair value | 1 | 1 | |
Recurring basis | Fair value measured at net asset value per share | Equity securities | |||
Liabilities | |||
Trading liabilities | 1 | 1 | |
Recurring basis | Fair value measured at net asset value per share | Short positions | |||
Liabilities | |||
Trading liabilities | 1 | 1 | |
Bank | |||
Liabilities | |||
Due to banks | 355 | 477 | |
Customer deposits | 3,307 | 3,700 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 14,239 | 13,307 | |
Obligation to return securities received as collateral | 7,386 | 15,017 | |
Trading liabilities | 29,967 | 27,539 | |
Short-term borrowings | 10,049 | 10,690 | |
Long-term debt | 65,276 | 67,788 | |
Other liabilities | 2,604 | 2,568 | |
Netting impact | (99,800) | (100,900) | |
Bank | Recurring basis | |||
Liabilities | |||
Due to banks | 355 | 477 | |
Customer deposits | 3,307 | 3,700 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 14,239 | 13,307 | |
Obligation to return securities received as collateral | 7,386 | 15,017 | |
Trading liabilities | 29,967 | 27,539 | |
Short-term borrowings | 10,049 | 10,690 | |
Long-term debt | 65,276 | 67,788 | |
Other liabilities | 2,604 | 2,568 | |
Netting impact | (99,760) | (100,864) | |
Total liabilities at fair value | 133,183 | 141,086 | |
Bank | Recurring basis | Long-term debt - of which structured notes over one year and up to two years | |||
Liabilities | |||
Long-term debt | 12,988 | 12,500 | |
Bank | Recurring basis | Long-term debt - of which structured notes over two years | |||
Liabilities | |||
Long-term debt | 28,814 | 30,486 | |
Bank | Recurring basis | Long-term debt - of which other debt instruments over two years | |||
Liabilities | |||
Long-term debt | 4,967 | 5,077 | |
Bank | Recurring basis | Long-term debt - of which high-trigger instruments | |||
Liabilities | |||
Long-term debt | 10,621 | 10,708 | |
Bank | Recurring basis | Long-term debt - of which other subordinated bonds | |||
Liabilities | |||
Long-term debt | 7,133 | ||
Bank | Recurring basis | Debt securities | |||
Liabilities | |||
Trading liabilities | 7,913 | 7,677 | |
Bank | Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Liabilities | |||
Trading liabilities | 3,701 | 3,635 | |
Bank | Recurring basis | Debt securities | Corporate debt securities | |||
Liabilities | |||
Trading liabilities | 4,161 | 3,955 | |
Bank | Recurring basis | Equity securities | |||
Liabilities | |||
Trading liabilities | 6,102 | 9,016 | |
Bank | Recurring basis | Short positions | |||
Liabilities | |||
Trading liabilities | 14,015 | 16,693 | |
Bank | Recurring basis | Derivative instruments | |||
Liabilities | |||
Trading liabilities | 15,952 | 10,846 | |
Netting impact | (97,772) | (100,559) | |
Bank | Recurring basis | Trading liabilities | |||
Liabilities | |||
Netting impact | (97,772) | (100,559) | |
Bank | Recurring basis | Other liabilities | |||
Liabilities | |||
Netting impact | (1,988) | (305) | |
Bank | Recurring basis | Level 1 | |||
Liabilities | |||
Due to banks | 0 | 0 | |
Customer deposits | 0 | 0 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 0 | 0 | |
Obligation to return securities received as collateral | 6,132 | 13,848 | |
Trading liabilities | 22,375 | 19,423 | |
Short-term borrowings | 0 | 0 | |
Long-term debt | 0 | 0 | |
Other liabilities | 207 | 348 | |
Total liabilities at fair value | 28,714 | 33,619 | |
Bank | Recurring basis | Level 1 | Long-term debt - of which structured notes over one year and up to two years | |||
Liabilities | |||
Long-term debt | 0 | 0 | |
Bank | Recurring basis | Level 1 | Long-term debt - of which structured notes over two years | |||
Liabilities | |||
Long-term debt | 0 | 0 | |
Bank | Recurring basis | Level 1 | Long-term debt - of which other debt instruments over two years | |||
Liabilities | |||
Long-term debt | 0 | 0 | |
Bank | Recurring basis | Level 1 | Long-term debt - of which high-trigger instruments | |||
Liabilities | |||
Long-term debt | 0 | 0 | |
Bank | Recurring basis | Level 1 | Long-term debt - of which other subordinated bonds | |||
Liabilities | |||
Long-term debt | 0 | ||
Bank | Recurring basis | Level 1 | Debt securities | |||
Liabilities | |||
Trading liabilities | 3,565 | 2,809 | |
Bank | Recurring basis | Level 1 | Debt securities | Debt securities issued by foreign governments | |||
Liabilities | |||
Trading liabilities | 2,914 | 2,667 | |
Bank | Recurring basis | Level 1 | Debt securities | Corporate debt securities | |||
Liabilities | |||
Trading liabilities | 603 | 113 | |
Bank | Recurring basis | Level 1 | Equity securities | |||
Liabilities | |||
Trading liabilities | 5,865 | 8,884 | |
Bank | Recurring basis | Level 1 | Short positions | |||
Liabilities | |||
Trading liabilities | 9,430 | 11,693 | |
Bank | Recurring basis | Level 1 | Derivative instruments | |||
Liabilities | |||
Trading liabilities | 12,945 | 7,730 | |
Bank | Recurring basis | Level 1 | Derivative instruments | Interest rate derivatives | |||
Liabilities | |||
Trading liabilities | 4,031 | 776 | |
Bank | Recurring basis | Level 1 | Derivative instruments | Foreign exchange derivatives | |||
Liabilities | |||
Trading liabilities | 107 | 133 | |
Bank | Recurring basis | Level 1 | Derivative instruments | Equity/Index-related products | |||
Liabilities | |||
Trading liabilities | 8,765 | 6,812 | |
Bank | Recurring basis | Level 2 | |||
Liabilities | |||
Due to banks | 355 | 477 | |
Customer deposits | 3,008 | 3,306 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 14,239 | 13,307 | |
Obligation to return securities received as collateral | 1,254 | 1,155 | |
Trading liabilities | 102,907 | 105,865 | |
Short-term borrowings | 9,333 | 9,658 | |
Long-term debt | 58,620 | 58,112 | |
Other liabilities | 3,890 | 2,008 | |
Total liabilities at fair value | 193,606 | 193,888 | |
Bank | Recurring basis | Level 2 | Long-term debt - of which structured notes over one year and up to two years | |||
Liabilities | |||
Long-term debt | 12,668 | 11,036 | |
Bank | Recurring basis | Level 2 | Long-term debt - of which structured notes over two years | |||
Liabilities | |||
Long-term debt | 24,431 | 24,168 | |
Bank | Recurring basis | Level 2 | Long-term debt - of which other debt instruments over two years | |||
Liabilities | |||
Long-term debt | 3,141 | 3,223 | |
Bank | Recurring basis | Level 2 | Long-term debt - of which high-trigger instruments | |||
Liabilities | |||
Long-term debt | 10,621 | 10,708 | |
Bank | Recurring basis | Level 2 | Long-term debt - of which other subordinated bonds | |||
Liabilities | |||
Long-term debt | 7,133 | ||
Bank | Recurring basis | Level 2 | Debt securities | |||
Liabilities | |||
Trading liabilities | 4,341 | 4,865 | |
Bank | Recurring basis | Level 2 | Debt securities | Debt securities issued by foreign governments | |||
Liabilities | |||
Trading liabilities | 787 | 968 | |
Bank | Recurring basis | Level 2 | Debt securities | Corporate debt securities | |||
Liabilities | |||
Trading liabilities | 3,551 | 3,839 | |
Bank | Recurring basis | Level 2 | Equity securities | |||
Liabilities | |||
Trading liabilities | 189 | 109 | |
Bank | Recurring basis | Level 2 | Short positions | |||
Liabilities | |||
Trading liabilities | 4,530 | 4,974 | |
Bank | Recurring basis | Level 2 | Derivative instruments | |||
Liabilities | |||
Trading liabilities | 98,377 | 100,891 | |
Bank | Recurring basis | Level 2 | Derivative instruments | Interest rate derivatives | |||
Liabilities | |||
Trading liabilities | 37,410 | 44,039 | |
Bank | Recurring basis | Level 2 | Derivative instruments | Foreign exchange derivatives | |||
Liabilities | |||
Trading liabilities | 30,864 | 22,646 | |
Bank | Recurring basis | Level 2 | Derivative instruments | Equity/Index-related products | |||
Liabilities | |||
Trading liabilities | 25,670 | 27,919 | |
Bank | Recurring basis | Level 3 | |||
Liabilities | |||
Due to banks | 0 | 0 | |
Customer deposits | 299 | 394 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 0 | 0 | |
Obligation to return securities received as collateral | 0 | 14 | |
Trading liabilities | 2,456 | 2,809 | |
Short-term borrowings | 716 | 1,032 | |
Long-term debt | 6,656 | 9,676 | |
Other liabilities | 495 | 517 | |
Total liabilities at fair value | 10,622 | 14,442 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | |||
Liabilities | |||
Long-term debt | 320 | 1,464 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | |||
Liabilities | |||
Long-term debt | 4,383 | 6,318 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which other debt instruments over two years | |||
Liabilities | |||
Long-term debt | 1,826 | 1,854 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which high-trigger instruments | |||
Liabilities | |||
Long-term debt | 0 | 0 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which other subordinated bonds | |||
Liabilities | |||
Long-term debt | 0 | ||
Bank | Recurring basis | Level 3 | Debt securities | |||
Liabilities | |||
Trading liabilities | 7 | 3 | |
Bank | Recurring basis | Level 3 | Debt securities | Debt securities issued by foreign governments | |||
Liabilities | |||
Trading liabilities | 0 | 0 | |
Bank | Recurring basis | Level 3 | Debt securities | Corporate debt securities | |||
Liabilities | |||
Trading liabilities | 7 | 3 | |
Bank | Recurring basis | Level 3 | Equity securities | |||
Liabilities | |||
Trading liabilities | 47 | 22 | |
Bank | Recurring basis | Level 3 | Short positions | |||
Liabilities | |||
Trading liabilities | 54 | 25 | |
Bank | Recurring basis | Level 3 | Derivative instruments | |||
Liabilities | |||
Trading liabilities | 2,402 | 2,784 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | |||
Liabilities | |||
Trading liabilities | 55 | 26 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | |||
Liabilities | |||
Trading liabilities | 14 | 57 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | |||
Liabilities | |||
Trading liabilities | 1,447 | 1,787 | |
Bank | Recurring basis | Fair value measured at net asset value per share | |||
Liabilities | |||
Trading liabilities | 1 | 1 | |
Total liabilities at fair value | 1 | 1 | |
Bank | Recurring basis | Fair value measured at net asset value per share | Equity securities | |||
Liabilities | |||
Trading liabilities | 1 | 1 | |
Bank | Recurring basis | Fair value measured at net asset value per share | Short positions | |||
Liabilities | |||
Trading liabilities | SFr 1 | SFr 1 |
FI - Roll-forward of assets mea
FI - Roll-forward of assets measured at fair value on recurring basis (Details 4) - CHF (SFr) SFr in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Jun. 30, 2022 | Jun. 30, 2021 | Mar. 31, 2022 | Dec. 31, 2021 | |
Assets measured at fair value on a recurring basis for level 3 | |||||
Retained Earnings (Accumulated Deficit) | SFr 29,059 | SFr 29,059 | SFr 30,791 | SFr 31,064 | |
Recurring basis | Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Balance at beginning of period, assets | 0 | ||||
Transfers in, assets | 0 | ||||
Transfers out, assets | 0 | ||||
Purchases, assets | 0 | ||||
Sales, assets | 0 | ||||
Issuances, assets | 3 | ||||
Settlements, assets | (3) | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | ||||
Gain (loss) on all other activity included in trading revenues, assets | 0 | ||||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | ||||
Gain (loss) on all other activity included in other revenues, assets | 0 | ||||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | ||||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | ||||
Foreign currency translation impact, assets | 0 | ||||
Balance at end of period, assets | 0 | 0 | |||
Recurring basis | Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | Net Revenue [Member] | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Changes in unrealized gains/losses | 0 | ||||
Recurring basis | Securities received as collateral | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Balance at beginning of period, assets | 14 | SFr 101 | |||
Transfers in, assets | 0 | 0 | |||
Transfers out, assets | 0 | 0 | |||
Purchases, assets | 0 | 64 | |||
Sales, assets | (14) | (86) | |||
Issuances, assets | 0 | 0 | |||
Settlements, assets | 0 | 0 | |||
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | 0 | |||
Gain (loss) on all other activity included in trading revenues, assets | 0 | 0 | |||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |||
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | |||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |||
Foreign currency translation impact, assets | 0 | 5 | |||
Balance at end of period, assets | 0 | 0 | 84 | ||
Recurring basis | Securities received as collateral | Net Revenue [Member] | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Changes in unrealized gains/losses | 0 | 0 | |||
Recurring basis | Trading assets | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Balance at beginning of period, assets | 4,503 | 7,535 | |||
Transfers in, assets | 907 | 594 | |||
Transfers out, assets | (1,174) | (1,635) | |||
Purchases, assets | 3,539 | 2,472 | |||
Sales, assets | (3,324) | (2,976) | |||
Issuances, assets | 580 | 508 | |||
Settlements, assets | (548) | (1,119) | |||
Gain (loss) on transfers in/out included in trading revenues, assets | 36 | 39 | |||
Gain (loss) on all other activity included in trading revenues, assets | (338) | 140 | |||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |||
Gain (loss) on all other activity included in other revenues, assets | (8) | 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 | 227 | 380 | |||
Balance at end of period, assets | 4,400 | 4,400 | 5,938 | ||
Recurring basis | Trading assets | Net Revenue [Member] | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Changes in unrealized gains/losses | 477 | 128 | |||
Recurring basis | Trading assets | Debt securities | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Balance at beginning of period, assets | 1,225 | 2,253 | |||
Transfers in, assets | 515 | 296 | |||
Transfers out, assets | (733) | (736) | |||
Purchases, assets | 2,899 | 1,859 | |||
Sales, assets | (2,571) | (2,285) | |||
Issuances, assets | 0 | 0 | |||
Settlements, assets | 0 | 0 | |||
Gain (loss) on transfers in/out included in trading revenues, assets | (106) | (7) | |||
Gain (loss) on all other activity included in trading revenues, assets | (313) | 138 | |||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |||
Gain (loss) on all other activity included in other revenues, assets | (8) | 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 | 97 | 137 | |||
Balance at end of period, assets | 1,005 | 1,005 | 1,655 | ||
Recurring basis | Trading assets | Debt securities | Net Revenue [Member] | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Changes in unrealized gains/losses | 562 | 103 | |||
Recurring basis | Trading assets | Debt securities | Corporate debt securities | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Balance at beginning of period, assets | 478 | 1,270 | |||
Transfers in, assets | 161 | 137 | |||
Transfers out, assets | (385) | (176) | |||
Purchases, assets | 2,412 | 1,403 | |||
Sales, assets | (2,048) | (1,913) | |||
Issuances, assets | 0 | 0 | |||
Settlements, assets | 0 | 0 | |||
Gain (loss) on transfers in/out included in trading revenues, assets | (106) | (5) | |||
Gain (loss) on all other activity included in trading revenues, assets | (276) | 95 | |||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |||
Gain (loss) on all other activity included in other revenues, assets | 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 | 63 | 78 | |||
Balance at end of period, assets | 299 | 299 | 889 | ||
Recurring basis | Trading assets | Debt securities | Corporate debt securities | Net Revenue [Member] | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Changes in unrealized gains/losses | 662 | 99 | |||
Recurring basis | Trading assets | Debt securities | RMBS | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Balance at beginning of period, assets | 424 | ||||
Transfers in, assets | 77 | ||||
Transfers out, assets | (131) | ||||
Purchases, assets | 243 | ||||
Sales, assets | (326) | ||||
Issuances, assets | 0 | ||||
Settlements, assets | 0 | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | 4 | ||||
Gain (loss) on all other activity included in trading revenues, assets | 100 | ||||
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 | 19 | ||||
Balance at end of period, assets | 410 | 410 | |||
Recurring basis | Trading assets | Debt securities | RMBS | Net Revenue [Member] | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Changes in unrealized gains/losses | 28 | ||||
Recurring basis | Trading assets | Derivative instruments | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Balance at beginning of period, assets | 2,187 | 3,911 | |||
Transfers in, assets | 216 | 179 | |||
Transfers out, assets | (326) | (856) | |||
Purchases, assets | 0 | 0 | |||
Sales, assets | 0 | 0 | |||
Issuances, assets | 580 | 508 | |||
Settlements, assets | (409) | (1,033) | |||
Gain (loss) on transfers in/out included in trading revenues, assets | 98 | 29 | |||
Gain (loss) on all other activity included in trading revenues, assets | (31) | (30) | |||
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 | 83 | 175 | |||
Balance at end of period, assets | 2,398 | 2,398 | 2,883 | ||
Recurring basis | Trading assets | Derivative instruments | Net Revenue [Member] | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Changes in unrealized gains/losses | 17 | 72 | |||
Recurring basis | Trading assets | Derivative instruments | Interest rate derivatives | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Balance at beginning of period, assets | 624 | 733 | |||
Transfers in, assets | 4 | 59 | |||
Transfers out, assets | (6) | (81) | |||
Purchases, assets | 0 | 0 | |||
Sales, assets | 0 | 0 | |||
Issuances, assets | 60 | 114 | |||
Settlements, assets | (28) | (59) | |||
Gain (loss) on transfers in/out included in trading revenues, assets | (1) | 0 | |||
Gain (loss) on all other activity included in trading revenues, assets | 252 | 18 | |||
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 | 20 | 21 | |||
Balance at end of period, assets | 925 | 925 | 805 | ||
Recurring basis | Trading assets | Derivative instruments | Interest rate derivatives | Net Revenue [Member] | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Changes in unrealized gains/losses | 141 | 54 | |||
Recurring basis | Trading assets | Derivative instruments | Other derivatives | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Balance at beginning of period, assets | 1,034 | 1,079 | |||
Transfers in, assets | 10 | 0 | |||
Transfers out, assets | (5) | 0 | |||
Purchases, assets | 0 | 0 | |||
Sales, assets | 0 | 0 | |||
Issuances, assets | 158 | 153 | |||
Settlements, assets | (154) | (157) | |||
Gain (loss) on transfers in/out included in trading revenues, assets | 3 | 0 | |||
Gain (loss) on all other activity included in trading revenues, assets | (381) | (55) | |||
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 | 41 | 53 | |||
Balance at end of period, assets | 706 | 706 | 1,073 | ||
Recurring basis | Trading assets | Derivative instruments | Other derivatives | Net Revenue [Member] | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Changes in unrealized gains/losses | (373) | (60) | |||
Recurring basis | Trading assets | Other | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Balance at beginning of period, assets | 896 | 1,247 | |||
Transfers in, assets | 57 | 22 | |||
Transfers out, assets | (45) | (32) | |||
Purchases, assets | 555 | 493 | |||
Sales, assets | (727) | (617) | |||
Issuances, assets | 0 | 0 | |||
Settlements, assets | (139) | (86) | |||
Gain (loss) on transfers in/out included in trading revenues, assets | 6 | 10 | |||
Gain (loss) on all other activity included in trading revenues, assets | 82 | 21 | |||
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 | 60 | |||
Balance at end of period, assets | 722 | 722 | 1,118 | ||
Recurring basis | Trading assets | Other | Other derivatives | Net Revenue [Member] | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Changes in unrealized gains/losses | (112) | (47) | |||
Recurring basis | Other investments | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Balance at beginning of period, assets | 3,666 | 3,054 | |||
Transfers in, assets | 71 | 3 | |||
Transfers out, assets | 0 | (753) | |||
Purchases, assets | 51 | 20 | |||
Sales, assets | (119) | (473) | |||
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 | (162) | (17) | |||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |||
Gain (loss) on all other activity included in other revenues, assets | (52) | 318 | |||
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 | 120 | 79 | |||
Balance at end of period, assets | 3,575 | 3,575 | 2,231 | ||
Recurring basis | Other investments | Net Revenue [Member] | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Changes in unrealized gains/losses | (99) | 43 | |||
Recurring basis | Other investments | Other equity investments | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Balance at beginning of period, assets | 2,863 | 2,132 | |||
Transfers in, assets | 71 | 0 | |||
Transfers out, assets | 0 | (753) | |||
Purchases, assets | 37 | 3 | |||
Sales, assets | (6) | (375) | |||
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 | (115) | (6) | |||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |||
Gain (loss) on all other activity included in other revenues, assets | (60) | 318 | |||
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 | 86 | 34 | |||
Balance at end of period, assets | 2,876 | 2,876 | 1,353 | ||
Recurring basis | Other investments | Other equity investments | Net Revenue [Member] | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Changes in unrealized gains/losses | (77) | 52 | |||
Recurring basis | Other investments | Life finance instruments | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Balance at beginning of period, assets | 789 | 920 | |||
Transfers in, assets | 0 | 0 | |||
Transfers out, assets | 0 | 0 | |||
Purchases, assets | 14 | 17 | |||
Sales, assets | (105) | (94) | |||
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 | (47) | (11) | |||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |||
Gain (loss) on all other activity included in other revenues, assets | 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 | 34 | 45 | |||
Balance at end of period, assets | 685 | 685 | 877 | ||
Recurring basis | Other investments | Life finance instruments | Net Revenue [Member] | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Changes in unrealized gains/losses | (22) | 18 | |||
Recurring basis | Loans | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Balance at beginning of period, assets | 1,534 | 3,669 | |||
Transfers in, assets | 313 | 22 | |||
Transfers out, assets | (317) | (533) | |||
Purchases, assets | 0 | 357 | |||
Sales, assets | (20) | (73) | |||
Issuances, assets | 3 | 162 | |||
Settlements, assets | (369) | (946) | |||
Gain (loss) on transfers in/out included in trading revenues, assets | 21 | 8 | |||
Gain (loss) on all other activity included in trading revenues, assets | (64) | 85 | |||
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 | 88 | 176 | |||
Balance at end of period, assets | 1,189 | 1,189 | 2,928 | ||
Recurring basis | Loans | Net Revenue [Member] | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Changes in unrealized gains/losses | (97) | 25 | |||
Recurring basis | Commercial and industrial loans | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Balance at beginning of period, assets | 717 | 1,347 | |||
Transfers in, assets | 74 | 22 | |||
Transfers out, assets | (300) | (12) | |||
Purchases, assets | 0 | 10 | |||
Sales, assets | (8) | (31) | |||
Issuances, assets | 3 | 119 | |||
Settlements, assets | (123) | (184) | |||
Gain (loss) on transfers in/out included in trading revenues, assets | 12 | 14 | |||
Gain (loss) on all other activity included in trading revenues, assets | (46) | 57 | |||
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 | 39 | 68 | |||
Balance at end of period, assets | 368 | 368 | 1,411 | ||
Recurring basis | Commercial and industrial loans | Net Revenue [Member] | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Changes in unrealized gains/losses | (54) | 36 | |||
Recurring basis | Financial institutions loans | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Balance at beginning of period, assets | 465 | 1,082 | |||
Transfers in, assets | 75 | 0 | |||
Transfers out, assets | 0 | (222) | |||
Purchases, assets | 0 | 0 | |||
Sales, assets | 0 | (42) | |||
Issuances, assets | 0 | 32 | |||
Settlements, assets | (219) | (296) | |||
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | 3 | |||
Gain (loss) on all other activity included in trading revenues, assets | 10 | 40 | |||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |||
Gain (loss) on all other activity included in other revenues, assets | 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 | 33 | 46 | |||
Balance at end of period, assets | 364 | 364 | 643 | ||
Recurring basis | Financial institutions loans | Net Revenue [Member] | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Changes in unrealized gains/losses | (17) | 4 | |||
Recurring basis | Other intangible assets | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Balance at beginning of period, assets | 167 | 180 | |||
Transfers in, assets | 102 | 0 | |||
Transfers out, assets | 0 | 0 | |||
Purchases, assets | 0 | 22 | |||
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 | (21) | 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 | (22) | |||
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 | 9 | |||
Balance at end of period, assets | 255 | 255 | 189 | ||
Recurring basis | Other intangible assets | Net Revenue [Member] | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Changes in unrealized gains/losses | (21) | (22) | |||
Recurring basis | Other assets | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Balance at beginning of period, assets | 694 | 1,825 | |||
Transfers in, assets | 170 | 164 | |||
Transfers out, assets | (114) | (451) | |||
Purchases, assets | 510 | 2,500 | |||
Sales, assets | (512) | (2,176) | |||
Issuances, assets | 114 | 77 | |||
Settlements, assets | (199) | (573) | |||
Gain (loss) on transfers in/out included in trading revenues, assets | 6 | 13 | |||
Gain (loss) on all other activity included in trading revenues, assets | 3 | (42) | |||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |||
Gain (loss) on all other activity included in other revenues, assets | 4 | 0 | |||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |||
Foreign currency translation impact, assets | 46 | 99 | |||
Balance at end of period, assets | 722 | 722 | 1,436 | ||
Recurring basis | Other assets | Net Revenue [Member] | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Changes in unrealized gains/losses | 0 | (76) | |||
Recurring basis | Other assets - of which loans held-for-sale | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Balance at beginning of period, assets | 562 | 1,576 | |||
Transfers in, assets | 153 | 164 | |||
Transfers out, assets | (109) | (409) | |||
Purchases, assets | 493 | 2,469 | |||
Sales, assets | (509) | (2,137) | |||
Issuances, assets | 113 | 77 | |||
Settlements, assets | (199) | (571) | |||
Gain (loss) on transfers in/out included in trading revenues, assets | 14 | 11 | |||
Gain (loss) on all other activity included in trading revenues, assets | 9 | 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 | 39 | 88 | |||
Balance at end of period, assets | 566 | 566 | 1,287 | ||
Recurring basis | Other assets - of which loans held-for-sale | Net Revenue [Member] | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Changes in unrealized gains/losses | 2 | (41) | |||
Recurring basis | Assets | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Balance at beginning of period, assets | 10,578 | 16,364 | |||
Transfers in, assets | 879 | 1,563 | 783 | ||
Transfers out, assets | (708) | (1,605) | (3,372) | ||
Purchases, assets | 4,100 | 5,435 | |||
Sales, assets | (3,989) | (5,784) | |||
Issuances, assets | 700 | 747 | |||
Settlements, assets | (1,119) | (2,638) | |||
Gain (loss) on transfers in/out included in trading revenues, assets | 63 | 60 | |||
Gain (loss) on all other activity included in trading revenues, assets | (582) | 166 | |||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |||
Gain (loss) on all other activity included in other revenues, assets | (56) | 297 | |||
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 | 488 | 748 | |||
Balance at end of period, assets | 10,141 | 10,141 | 12,806 | ||
Recurring basis | Assets | Net Revenue [Member] | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Changes in unrealized gains/losses | 260 | 98 | |||
Bank | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Retained Earnings (Accumulated Deficit) | 12,958 | 12,958 | SFr 14,932 | ||
Bank | Recurring basis | Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Balance at beginning of period, assets | 0 | ||||
Transfers in, assets | 0 | ||||
Transfers out, assets | 0 | ||||
Purchases, assets | 0 | ||||
Sales, assets | 0 | ||||
Issuances, assets | 3 | ||||
Settlements, assets | (3) | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | ||||
Gain (loss) on all other activity included in trading revenues, assets | 0 | ||||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | ||||
Gain (loss) on all other activity included in other revenues, assets | 0 | ||||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | ||||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | ||||
Foreign currency translation impact, assets | 0 | ||||
Balance at end of period, assets | 0 | 0 | |||
Bank | Recurring basis | Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | Debt securities | RMBS | Net Revenue [Member] | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Changes in unrealized gains/losses | 0 | ||||
Bank | Recurring basis | Securities received as collateral | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Balance at beginning of period, assets | 14 | 101 | |||
Transfers in, assets | 0 | 0 | |||
Transfers out, assets | 0 | 0 | |||
Purchases, assets | 0 | 64 | |||
Sales, assets | (14) | (86) | |||
Issuances, assets | 0 | 0 | |||
Settlements, assets | 0 | 0 | |||
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | 0 | |||
Gain (loss) on all other activity included in trading revenues, assets | 0 | 0 | |||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |||
Gain (loss) on all other activity included in other revenues, assets | 0 | 0 | |||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |||
Foreign currency translation impact, assets | 0 | 5 | |||
Balance at end of period, assets | 0 | 0 | 84 | ||
Bank | Recurring basis | Securities received as collateral | Net Revenue [Member] | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Changes in unrealized gains/losses | 0 | 0 | |||
Bank | Recurring basis | Trading assets | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Balance at beginning of period, assets | 4,503 | 7,535 | |||
Transfers in, assets | 907 | 594 | |||
Transfers out, assets | (1,174) | (1,635) | |||
Purchases, assets | 3,539 | 2,472 | |||
Sales, assets | (3,324) | (2,976) | |||
Issuances, assets | 580 | 508 | |||
Settlements, assets | (548) | (1,119) | |||
Gain (loss) on transfers in/out included in trading revenues, assets | 36 | 39 | |||
Gain (loss) on all other activity included in trading revenues, assets | (338) | 140 | |||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |||
Gain (loss) on all other activity included in other revenues, assets | (8) | 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 | 227 | 380 | |||
Balance at end of period, assets | 4,400 | 4,400 | 5,938 | ||
Bank | Recurring basis | Trading assets | Net Revenue [Member] | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Changes in unrealized gains/losses | 477 | 128 | |||
Bank | Recurring basis | Trading assets | Debt securities | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Balance at beginning of period, assets | 1,225 | 2,253 | |||
Transfers in, assets | 515 | 296 | |||
Transfers out, assets | (733) | (736) | |||
Purchases, assets | 2,899 | 1,859 | |||
Sales, assets | (2,571) | (2,285) | |||
Issuances, assets | 0 | 0 | |||
Settlements, assets | 0 | 0 | |||
Gain (loss) on transfers in/out included in trading revenues, assets | (106) | (7) | |||
Gain (loss) on all other activity included in trading revenues, assets | (313) | 138 | |||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |||
Gain (loss) on all other activity included in other revenues, assets | (8) | 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 | 97 | 137 | |||
Balance at end of period, assets | 1,005 | 1,005 | 1,655 | ||
Bank | Recurring basis | Trading assets | Debt securities | Net Revenue [Member] | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Changes in unrealized gains/losses | 562 | 103 | |||
Bank | Recurring basis | Trading assets | Debt securities | Corporate debt securities | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Balance at beginning of period, assets | 478 | 1,270 | |||
Transfers in, assets | 161 | 137 | |||
Transfers out, assets | (385) | (176) | |||
Purchases, assets | 2,412 | 1,403 | |||
Sales, assets | (2,048) | (1,913) | |||
Issuances, assets | 0 | 0 | |||
Settlements, assets | 0 | 0 | |||
Gain (loss) on transfers in/out included in trading revenues, assets | (106) | (5) | |||
Gain (loss) on all other activity included in trading revenues, assets | (276) | 95 | |||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |||
Gain (loss) on all other activity included in other revenues, assets | 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 | 63 | 78 | |||
Balance at end of period, assets | 299 | 299 | 889 | ||
Bank | Recurring basis | Trading assets | Debt securities | Corporate debt securities | Net Revenue [Member] | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Changes in unrealized gains/losses | 662 | 99 | |||
Bank | Recurring basis | Trading assets | Debt securities | RMBS | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Balance at beginning of period, assets | 424 | ||||
Transfers in, assets | 77 | ||||
Transfers out, assets | (131) | ||||
Purchases, assets | 243 | ||||
Sales, assets | (326) | ||||
Issuances, assets | 0 | ||||
Settlements, assets | 0 | ||||
Gain (loss) on transfers in/out included in trading revenues, assets | 4 | ||||
Gain (loss) on all other activity included in trading revenues, assets | 100 | ||||
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 | 19 | ||||
Balance at end of period, assets | 410 | 410 | |||
Bank | Recurring basis | Trading assets | Debt securities | RMBS | Net Revenue [Member] | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Changes in unrealized gains/losses | 28 | ||||
Bank | Recurring basis | Trading assets | Derivative instruments | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Balance at beginning of period, assets | 2,187 | 3,911 | |||
Transfers in, assets | 216 | 179 | |||
Transfers out, assets | (326) | (856) | |||
Purchases, assets | 0 | 0 | |||
Sales, assets | 0 | 0 | |||
Issuances, assets | 580 | 508 | |||
Settlements, assets | (409) | (1,033) | |||
Gain (loss) on transfers in/out included in trading revenues, assets | 98 | 29 | |||
Gain (loss) on all other activity included in trading revenues, assets | (31) | (30) | |||
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 | 83 | 175 | |||
Balance at end of period, assets | 2,398 | 2,398 | 2,883 | ||
Bank | Recurring basis | Trading assets | Derivative instruments | Net Revenue [Member] | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Changes in unrealized gains/losses | 17 | 72 | |||
Bank | Recurring basis | Trading assets | Derivative instruments | Interest rate derivatives | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Balance at beginning of period, assets | 624 | 733 | |||
Transfers in, assets | 4 | 59 | |||
Transfers out, assets | (6) | (81) | |||
Purchases, assets | 0 | 0 | |||
Sales, assets | 0 | 0 | |||
Issuances, assets | 60 | 114 | |||
Settlements, assets | (28) | (59) | |||
Gain (loss) on transfers in/out included in trading revenues, assets | (1) | 0 | |||
Gain (loss) on all other activity included in trading revenues, assets | 252 | 18 | |||
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 | 20 | 21 | |||
Balance at end of period, assets | 925 | 925 | 805 | ||
Bank | Recurring basis | Trading assets | Derivative instruments | Interest rate derivatives | Net Revenue [Member] | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Changes in unrealized gains/losses | 141 | 54 | |||
Bank | Recurring basis | Trading assets | Derivative instruments | Other derivatives | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Balance at beginning of period, assets | 1,034 | 1,079 | |||
Transfers in, assets | 10 | 0 | |||
Transfers out, assets | (5) | 0 | |||
Purchases, assets | 0 | 0 | |||
Sales, assets | 0 | 0 | |||
Issuances, assets | 158 | 153 | |||
Settlements, assets | (154) | (157) | |||
Gain (loss) on transfers in/out included in trading revenues, assets | 3 | 0 | |||
Gain (loss) on all other activity included in trading revenues, assets | (381) | (55) | |||
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 | 41 | 53 | |||
Balance at end of period, assets | 706 | 706 | 1,073 | ||
Bank | Recurring basis | Trading assets | Derivative instruments | Other derivatives | Net Revenue [Member] | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Changes in unrealized gains/losses | (373) | (60) | |||
Bank | Recurring basis | Trading assets | Other | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Balance at beginning of period, assets | 896 | 1,247 | |||
Transfers in, assets | 57 | 22 | |||
Transfers out, assets | (45) | (32) | |||
Purchases, assets | 555 | 493 | |||
Sales, assets | (727) | (617) | |||
Issuances, assets | 0 | 0 | |||
Settlements, assets | (139) | (86) | |||
Gain (loss) on transfers in/out included in trading revenues, assets | 6 | 10 | |||
Gain (loss) on all other activity included in trading revenues, assets | 82 | 21 | |||
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 | 60 | |||
Balance at end of period, assets | 722 | 722 | 1,118 | ||
Bank | Recurring basis | Trading assets | Other | Other derivatives | Net Revenue [Member] | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Changes in unrealized gains/losses | (112) | (47) | |||
Bank | Recurring basis | Other investments | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Balance at beginning of period, assets | 3,666 | 3,054 | |||
Transfers in, assets | 71 | 3 | |||
Transfers out, assets | 0 | (753) | |||
Purchases, assets | 51 | 20 | |||
Sales, assets | (118) | (473) | |||
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 | (162) | (17) | |||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |||
Gain (loss) on all other activity included in other revenues, assets | (52) | 318 | |||
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 | 118 | 79 | |||
Balance at end of period, assets | 3,574 | 3,574 | 2,231 | ||
Bank | Recurring basis | Other investments | Net Revenue [Member] | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Changes in unrealized gains/losses | (99) | 46 | |||
Bank | Recurring basis | Other investments | Other equity investments | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Balance at beginning of period, assets | 2,863 | 2,132 | |||
Transfers in, assets | 71 | 0 | |||
Transfers out, assets | 0 | (753) | |||
Purchases, assets | 37 | 3 | |||
Sales, assets | (5) | (375) | |||
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 | (115) | (6) | |||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |||
Gain (loss) on all other activity included in other revenues, assets | (60) | 318 | |||
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 | 84 | 34 | |||
Balance at end of period, assets | 2,875 | 2,875 | 1,353 | ||
Bank | Recurring basis | Other investments | Other equity investments | Net Revenue [Member] | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Changes in unrealized gains/losses | (77) | 55 | |||
Bank | Recurring basis | Other investments | Life finance instruments | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Balance at beginning of period, assets | 789 | 920 | |||
Transfers in, assets | 0 | 0 | |||
Transfers out, assets | 0 | 0 | |||
Purchases, assets | 14 | 17 | |||
Sales, assets | (105) | (94) | |||
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 | (47) | (11) | |||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |||
Gain (loss) on all other activity included in other revenues, assets | 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 | 34 | 45 | |||
Balance at end of period, assets | 685 | 685 | 877 | ||
Bank | Recurring basis | Other investments | Life finance instruments | Net Revenue [Member] | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Changes in unrealized gains/losses | (22) | 18 | |||
Bank | Recurring basis | Loans | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Balance at beginning of period, assets | 1,534 | 3,669 | |||
Transfers in, assets | 313 | 22 | |||
Transfers out, assets | (317) | (533) | |||
Purchases, assets | 0 | 357 | |||
Sales, assets | (20) | (73) | |||
Issuances, assets | 3 | 162 | |||
Settlements, assets | (369) | (946) | |||
Gain (loss) on transfers in/out included in trading revenues, assets | 21 | 8 | |||
Gain (loss) on all other activity included in trading revenues, assets | (64) | 85 | |||
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 | 88 | 176 | |||
Balance at end of period, assets | 1,189 | 1,189 | 2,928 | ||
Bank | Recurring basis | Loans | Net Revenue [Member] | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Changes in unrealized gains/losses | (97) | 25 | |||
Bank | Recurring basis | Commercial and industrial loans | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Balance at beginning of period, assets | 717 | 1,347 | |||
Transfers in, assets | 74 | 22 | |||
Transfers out, assets | (300) | (12) | |||
Purchases, assets | 0 | 10 | |||
Sales, assets | (8) | (31) | |||
Issuances, assets | 3 | 119 | |||
Settlements, assets | (123) | (184) | |||
Gain (loss) on transfers in/out included in trading revenues, assets | 12 | 14 | |||
Gain (loss) on all other activity included in trading revenues, assets | (46) | 57 | |||
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 | 39 | 68 | |||
Balance at end of period, assets | 368 | 368 | 1,411 | ||
Bank | Recurring basis | Commercial and industrial loans | Net Revenue [Member] | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Changes in unrealized gains/losses | (54) | 36 | |||
Bank | Recurring basis | Financial institutions loans | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Balance at beginning of period, assets | 465 | 1,082 | |||
Transfers in, assets | 75 | 0 | |||
Transfers out, assets | 0 | (222) | |||
Purchases, assets | 0 | 0 | |||
Sales, assets | 0 | (42) | |||
Issuances, assets | 0 | 32 | |||
Settlements, assets | (219) | (296) | |||
Gain (loss) on transfers in/out included in trading revenues, assets | 0 | 3 | |||
Gain (loss) on all other activity included in trading revenues, assets | 10 | 40 | |||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |||
Gain (loss) on all other activity included in other revenues, assets | 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 | 33 | 46 | |||
Balance at end of period, assets | 364 | 364 | 643 | ||
Bank | Recurring basis | Financial institutions loans | Net Revenue [Member] | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Changes in unrealized gains/losses | (17) | 4 | |||
Bank | Recurring basis | Other intangible assets | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Balance at beginning of period, assets | 167 | 180 | |||
Transfers in, assets | 102 | 0 | |||
Transfers out, assets | 0 | 0 | |||
Purchases, assets | 0 | 22 | |||
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 | (21) | 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 | (22) | |||
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 | 9 | |||
Balance at end of period, assets | 255 | 255 | 189 | ||
Bank | Recurring basis | Other intangible assets | Net Revenue [Member] | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Changes in unrealized gains/losses | (21) | (22) | |||
Bank | Recurring basis | Other assets | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Balance at beginning of period, assets | 694 | 1,825 | |||
Transfers in, assets | 170 | 164 | |||
Transfers out, assets | (114) | (451) | |||
Purchases, assets | 510 | 2,500 | |||
Sales, assets | (512) | (2,176) | |||
Issuances, assets | 114 | 77 | |||
Settlements, assets | (199) | (573) | |||
Gain (loss) on transfers in/out included in trading revenues, assets | 6 | 13 | |||
Gain (loss) on all other activity included in trading revenues, assets | 3 | (42) | |||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |||
Gain (loss) on all other activity included in other revenues, assets | 4 | 0 | |||
Gain (loss) on transfers in/out included in accumulated other comprehensive income, assets | 0 | 0 | |||
Gain (loss) on all other activity included in accumulated other comprehensive income, assets | 0 | 0 | |||
Foreign currency translation impact, assets | 46 | 99 | |||
Balance at end of period, assets | 722 | 722 | 1,436 | ||
Bank | Recurring basis | Other assets | Net Revenue [Member] | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Changes in unrealized gains/losses | 0 | (76) | |||
Bank | Recurring basis | Other assets - of which loans held-for-sale | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Balance at beginning of period, assets | 562 | 1,576 | |||
Transfers in, assets | 153 | 164 | |||
Transfers out, assets | (109) | (409) | |||
Purchases, assets | 493 | 2,469 | |||
Sales, assets | (509) | (2,137) | |||
Issuances, assets | 113 | 77 | |||
Settlements, assets | (199) | (571) | |||
Gain (loss) on transfers in/out included in trading revenues, assets | 14 | 11 | |||
Gain (loss) on all other activity included in trading revenues, assets | 9 | 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 | 39 | 88 | |||
Balance at end of period, assets | 566 | 566 | 1,287 | ||
Bank | Recurring basis | Other assets - of which loans held-for-sale | Net Revenue [Member] | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Changes in unrealized gains/losses | 2 | (41) | |||
Bank | Recurring basis | Assets | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Balance at beginning of period, assets | 10,578 | 16,364 | |||
Transfers in, assets | 1,563 | 783 | |||
Transfers out, assets | (1,605) | (3,372) | |||
Purchases, assets | 4,100 | 5,435 | |||
Sales, assets | (3,988) | (5,784) | |||
Issuances, assets | 700 | 747 | |||
Settlements, assets | (1,119) | (2,638) | |||
Gain (loss) on transfers in/out included in trading revenues, assets | 63 | 60 | |||
Gain (loss) on all other activity included in trading revenues, assets | (582) | 166 | |||
Gain (loss) on transfers in/out included in other revenues, assets | 0 | 0 | |||
Gain (loss) on all other activity included in other revenues, assets | (56) | 297 | |||
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 | 486 | 748 | |||
Balance at end of period, assets | SFr 10,140 | 10,140 | 12,806 | ||
Bank | Recurring basis | Assets | Net Revenue [Member] | |||||
Assets measured at fair value on a recurring basis for level 3 | |||||
Changes in unrealized gains/losses | SFr 260 | SFr 101 |
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 | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2022 | Jun. 30, 2021 | |
Customer deposits | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, liabilities | SFr 394 | SFr 448 | |
Transfers in, liabilities | 0 | 0 | |
Transfers out, liabilities | 0 | 0 | |
Purchases, liabilities | 0 | 0 | |
Sales, liabilities | 0 | 0 | |
Issuances, liabilities | 0 | 0 | |
Settlements, liabilities | (15) | 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 | (26) | (8) | |
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 | (41) | (13) | |
Foreign currency translation impact, liabilities | (13) | 5 | |
Balance at end of period, liabilities | SFr 299 | 299 | 432 |
Customer deposits | Net Revenue [Member] | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | (70) | 10 | |
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 | 14 | 101 | |
Transfers in, liabilities | 0 | 0 | |
Transfers out, liabilities | 0 | 0 | |
Purchases, liabilities | 0 | 64 | |
Sales, liabilities | (14) | (86) | |
Issuances, liabilities | 0 | 0 | |
Settlements, liabilities | 0 | 0 | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in trading revenues, liabilities | 0 | 0 | |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | 0 | |
Foreign currency translation impact, liabilities | 0 | 5 | |
Balance at end of period, liabilities | 0 | 0 | 84 |
Obligation to return securities received as collateral | Net Revenue [Member] | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | 0 | 0 | |
Trading liabilities | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, liabilities | 2,809 | 4,246 | |
Transfers in, liabilities | 856 | 584 | |
Transfers out, liabilities | (882) | (1,961) | |
Purchases, liabilities | 18 | 80 | |
Sales, liabilities | (83) | (24) | |
Issuances, liabilities | 502 | 710 | |
Settlements, liabilities | (629) | (1,138) | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 37 | 152 | |
Gain (loss) on all other activity included in trading revenues, liabilities | (290) | 169 | |
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 | 118 | 217 | |
Balance at end of period, liabilities | 2,456 | 2,456 | 3,035 |
Trading liabilities | Net Revenue [Member] | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | (188) | 779 | |
Trading liabilities | Derivative instruments | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, liabilities | 2,784 | 4,191 | |
Transfers in, liabilities | 746 | 566 | |
Transfers out, liabilities | (870) | (1,961) | |
Purchases, liabilities | 0 | 69 | |
Sales, liabilities | (61) | (4) | |
Issuances, liabilities | 502 | 710 | |
Settlements, liabilities | (629) | (1,138) | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 38 | 152 | |
Gain (loss) on all other activity included in trading revenues, liabilities | (228) | 193 | |
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 | 120 | 216 | |
Balance at end of period, liabilities | 2,402 | 2,402 | 2,994 |
Trading liabilities | Derivative instruments | Net Revenue [Member] | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | (180) | 781 | |
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 | 1,787 | 2,010 | |
Transfers in, liabilities | 611 | 427 | |
Transfers out, liabilities | (596) | (1,049) | |
Purchases, liabilities | 0 | 0 | |
Sales, liabilities | 0 | 0 | |
Issuances, liabilities | 279 | 350 | |
Settlements, liabilities | (232) | (527) | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | (9) | 151 | |
Gain (loss) on all other activity included in trading revenues, liabilities | (468) | 265 | |
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 | 75 | 111 | |
Balance at end of period, liabilities | 1,447 | 1,447 | 1,738 |
Trading liabilities | Derivative instruments | Equity/Index-related products | Net Revenue [Member] | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | (348) | 529 | |
Trading liabilities | Derivative instruments | Other derivatives | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, liabilities | 540 | ||
Transfers in, liabilities | 7 | ||
Transfers out, liabilities | (4) | ||
Purchases, liabilities | 0 | ||
Sales, liabilities | (61) | ||
Issuances, liabilities | 89 | ||
Settlements, liabilities | (113) | ||
Gain (loss) on transfers in/out included in trading revenues, liabilities | 3 | ||
Gain (loss) on all other activity included in trading revenues, liabilities | 73 | ||
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 | 26 | ||
Balance at end of period, liabilities | 560 | 560 | |
Trading liabilities | Derivative instruments | Other derivatives | Net Revenue [Member] | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | (15) | ||
Short-term borrowings | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, liabilities | 1,032 | 701 | |
Transfers in, liabilities | 124 | 155 | |
Transfers out, liabilities | (522) | (207) | |
Purchases, liabilities | 0 | 0 | |
Sales, liabilities | 0 | 0 | |
Issuances, liabilities | 639 | 930 | |
Settlements, liabilities | (500) | (608) | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | (43) | (1) | |
Gain (loss) on all other activity included in trading revenues, liabilities | (58) | 95 | |
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 | 44 | 41 | |
Balance at end of period, liabilities | 716 | 716 | 1,106 |
Short-term borrowings | Net Revenue [Member] | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | 18 | 67 | |
Long-term debt | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, liabilities | 9,676 | 7,268 | |
Transfers in, liabilities | 1,259 | 2,715 | |
Transfers out, liabilities | (4,863) | (2,046) | |
Purchases, liabilities | 0 | 0 | |
Sales, liabilities | 0 | 0 | |
Issuances, liabilities | 4,531 | 4,401 | |
Settlements, liabilities | (2,960) | (3,119) | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | (499) | 62 | |
Gain (loss) on all other activity included in trading revenues, liabilities | (746) | (4) | |
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 | 4 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | (35) | (3) | |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | (202) | (30) | |
Foreign currency translation impact, liabilities | 495 | 425 | |
Balance at end of period, liabilities | 6,656 | 6,656 | 9,673 |
Long-term debt | Net Revenue [Member] | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | (756) | 210 | |
Long-term debt | Long-term debt - of which structured notes over one year and up to two years | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, liabilities | 1,464 | 1,133 | |
Transfers in, liabilities | 142 | 1,165 | |
Transfers out, liabilities | (1,392) | (732) | |
Purchases, liabilities | 0 | 0 | |
Sales, liabilities | 0 | 0 | |
Issuances, liabilities | 559 | 1,127 | |
Settlements, liabilities | (338) | (771) | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | (102) | 39 | |
Gain (loss) on all other activity included in trading revenues, liabilities | (76) | 97 | |
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 | (1) | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | (1) | (1) | |
Foreign currency translation impact, liabilities | 65 | 67 | |
Balance at end of period, liabilities | 320 | 320 | 2,124 |
Long-term debt | Long-term debt - of which structured notes over one year and up to two years | Net Revenue [Member] | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | (34) | 39 | |
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 | 6,318 | 5,526 | |
Transfers in, liabilities | 1,106 | 1,532 | |
Transfers out, liabilities | (3,441) | (1,287) | |
Purchases, liabilities | 0 | 0 | |
Sales, liabilities | 0 | 0 | |
Issuances, liabilities | 3,888 | 3,020 | |
Settlements, liabilities | (2,595) | (2,227) | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | (416) | 24 | |
Gain (loss) on all other activity included in trading revenues, liabilities | (586) | (109) | |
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 | (34) | (2) | |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | (201) | (29) | |
Foreign currency translation impact, liabilities | 344 | 329 | |
Balance at end of period, liabilities | 4,383 | 4,383 | 6,777 |
Long-term debt | Long-term debt - of which structured notes over two years | Net Revenue [Member] | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | (740) | (59) | |
Long-term debt | Long-term debt - of which other debt instruments over two years | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, liabilities | 1,854 | ||
Transfers in, liabilities | 0 | ||
Transfers out, liabilities | 0 | ||
Purchases, liabilities | 0 | ||
Sales, liabilities | 0 | ||
Issuances, liabilities | 0 | ||
Settlements, liabilities | (26) | ||
Gain (loss) on transfers in/out included in trading revenues, liabilities | 0 | ||
Gain (loss) on all other activity included in trading revenues, liabilities | (84) | ||
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 | 82 | ||
Balance at end of period, liabilities | 1,826 | 1,826 | |
Long-term debt | Long-term debt - of which other debt instruments over two years | Net Revenue [Member] | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | 0 | ||
Other liabilities | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, liabilities | 518 | 1,271 | |
Transfers in, liabilities | 41 | 7 | |
Transfers out, liabilities | (2) | (552) | |
Purchases, liabilities | 8 | 24 | |
Sales, liabilities | (21) | (46) | |
Issuances, liabilities | 58 | 59 | |
Settlements, liabilities | (71) | (424) | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | (2) | 8 | |
Gain (loss) on all other activity included in trading revenues, liabilities | (22) | (8) | |
Gain (loss) on transfers in/out included in other revenues, liabilities | 1 | 107 | |
Gain (loss) on all other activity included in other revenues, liabilities | (35) | 38 | |
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 | 22 | 51 | |
Balance at end of period, liabilities | 495 | 495 | 535 |
Other liabilities | Net Revenue [Member] | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | 16 | 2 | |
Liabilities | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, liabilities | 14,443 | 14,035 | |
Transfers in, liabilities | 1,237 | 2,280 | 3,461 |
Transfers out, liabilities | 2,714 | (6,269) | (4,766) |
Purchases, liabilities | 26 | 168 | |
Sales, liabilities | (118) | (156) | |
Issuances, liabilities | 5,730 | 6,100 | |
Settlements, liabilities | (4,175) | (5,289) | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | (507) | 221 | |
Gain (loss) on all other activity included in trading revenues, liabilities | (1,142) | 244 | |
Gain (loss) on transfers in/out included in other revenues, liabilities | 1 | 107 | |
Gain (loss) on all other activity included in other revenues, liabilities | (35) | 42 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | (35) | (3) | |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | (243) | (43) | |
Foreign currency translation impact, liabilities | 666 | 744 | |
Balance at end of period, liabilities | 10,622 | 10,622 | 14,865 |
Liabilities | Net Revenue [Member] | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | (980) | 1,068 | |
Bank | Customer deposits | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, liabilities | 394 | 448 | |
Transfers in, liabilities | 0 | 0 | |
Transfers out, liabilities | 0 | 0 | |
Purchases, liabilities | 0 | 0 | |
Sales, liabilities | 0 | 0 | |
Issuances, liabilities | 0 | 0 | |
Settlements, liabilities | (15) | 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 | (26) | (8) | |
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 | (41) | (13) | |
Foreign currency translation impact, liabilities | (13) | 5 | |
Balance at end of period, liabilities | 299 | 299 | 432 |
Bank | Customer deposits | Net Revenue [Member] | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | (70) | 10 | |
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 | 14 | 101 | |
Transfers in, liabilities | 0 | 0 | |
Transfers out, liabilities | 0 | 0 | |
Purchases, liabilities | 0 | 64 | |
Sales, liabilities | (14) | (86) | |
Issuances, liabilities | 0 | 0 | |
Settlements, liabilities | 0 | 0 | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in trading revenues, liabilities | 0 | 0 | |
Gain (loss) on transfers in/out included in other revenues, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in other revenues, liabilities | 0 | 0 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | 0 | 0 | |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | 0 | 0 | |
Foreign currency translation impact, liabilities | 0 | 5 | |
Balance at end of period, liabilities | 0 | 0 | 84 |
Bank | Obligation to return securities received as collateral | Net Revenue [Member] | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | 0 | 0 | |
Bank | Trading liabilities | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, liabilities | 2,809 | 4,246 | |
Transfers in, liabilities | 856 | 584 | |
Transfers out, liabilities | (882) | (1,961) | |
Purchases, liabilities | 18 | 80 | |
Sales, liabilities | (83) | (24) | |
Issuances, liabilities | 502 | 710 | |
Settlements, liabilities | (629) | (1,138) | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 37 | 152 | |
Gain (loss) on all other activity included in trading revenues, liabilities | (290) | 169 | |
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 | 118 | 217 | |
Balance at end of period, liabilities | 2,456 | 2,456 | 3,035 |
Bank | Trading liabilities | Net Revenue [Member] | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | (188) | 779 | |
Bank | Trading liabilities | Derivative instruments | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, liabilities | 2,784 | 4,191 | |
Transfers in, liabilities | 746 | 566 | |
Transfers out, liabilities | (870) | (1,961) | |
Purchases, liabilities | 0 | 69 | |
Sales, liabilities | (61) | (4) | |
Issuances, liabilities | 502 | 710 | |
Settlements, liabilities | (629) | (1,138) | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | 38 | 152 | |
Gain (loss) on all other activity included in trading revenues, liabilities | (228) | 193 | |
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 | 120 | 216 | |
Balance at end of period, liabilities | 2,402 | 2,402 | 2,994 |
Bank | Trading liabilities | Derivative instruments | Net Revenue [Member] | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | (180) | 781 | |
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 | 1,787 | 2,010 | |
Transfers in, liabilities | 611 | 427 | |
Transfers out, liabilities | (596) | (1,049) | |
Purchases, liabilities | 0 | 0 | |
Sales, liabilities | 0 | 0 | |
Issuances, liabilities | 279 | 350 | |
Settlements, liabilities | (232) | (527) | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | (9) | 151 | |
Gain (loss) on all other activity included in trading revenues, liabilities | (468) | 265 | |
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 | 75 | 111 | |
Balance at end of period, liabilities | 1,447 | 1,447 | 1,738 |
Bank | Trading liabilities | Derivative instruments | Equity/Index-related products | Net Revenue [Member] | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | (348) | 529 | |
Bank | Short-term borrowings | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, liabilities | 1,032 | 701 | |
Transfers in, liabilities | 124 | 155 | |
Transfers out, liabilities | (522) | (207) | |
Purchases, liabilities | 0 | 0 | |
Sales, liabilities | 0 | 0 | |
Issuances, liabilities | 639 | 930 | |
Settlements, liabilities | (500) | (608) | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | (43) | (1) | |
Gain (loss) on all other activity included in trading revenues, liabilities | (58) | 95 | |
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 | 44 | 41 | |
Balance at end of period, liabilities | 716 | 716 | 1,106 |
Bank | Short-term borrowings | Net Revenue [Member] | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | 18 | 67 | |
Bank | Long-term debt | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, liabilities | 9,676 | 7,286 | |
Transfers in, liabilities | 1,259 | 2,697 | |
Transfers out, liabilities | (4,863) | (2,046) | |
Purchases, liabilities | 0 | 0 | |
Sales, liabilities | 0 | 0 | |
Issuances, liabilities | 4,531 | 4,401 | |
Settlements, liabilities | (2,960) | (3,119) | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | (499) | 62 | |
Gain (loss) on all other activity included in trading revenues, liabilities | (746) | (8) | |
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 | (35) | (3) | |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | (202) | (30) | |
Foreign currency translation impact, liabilities | 495 | 433 | |
Balance at end of period, liabilities | 6,656 | 6,656 | 9,673 |
Bank | Long-term debt | Net Revenue [Member] | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | (756) | 203 | |
Bank | Long-term debt | Long-term debt - of which structured notes over one year and up to two years | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, liabilities | 1,133 | ||
Transfers in, liabilities | 1,165 | ||
Transfers out, liabilities | (732) | ||
Purchases, liabilities | 0 | ||
Sales, liabilities | 0 | ||
Issuances, liabilities | 1,127 | ||
Settlements, liabilities | (771) | ||
Gain (loss) on transfers in/out included in trading revenues, liabilities | 39 | ||
Gain (loss) on all other activity included in trading revenues, liabilities | 97 | ||
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 | (1) | ||
Foreign currency translation impact, liabilities | 67 | ||
Balance at end of period, liabilities | 2,124 | ||
Bank | Long-term debt | Long-term debt - of which structured notes over one year and up to two years | Net Revenue [Member] | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | 39 | ||
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 | 6,318 | 5,526 | |
Transfers in, liabilities | 1,106 | 1,532 | |
Transfers out, liabilities | (3,441) | (1,287) | |
Purchases, liabilities | 0 | 0 | |
Sales, liabilities | 0 | 0 | |
Issuances, liabilities | 3,888 | 3,020 | |
Settlements, liabilities | (2,595) | (2,227) | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | (416) | 24 | |
Gain (loss) on all other activity included in trading revenues, liabilities | (586) | (109) | |
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 | (34) | (2) | |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | (201) | (29) | |
Foreign currency translation impact, liabilities | 344 | 329 | |
Balance at end of period, liabilities | 4,383 | 4,383 | 6,777 |
Bank | Long-term debt | Long-term debt - of which structured notes over two years | Net Revenue [Member] | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | (740) | (59) | |
Bank | Long-term debt | Long-term debt - of which other debt instruments over two years | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, liabilities | 1,854 | ||
Transfers in, liabilities | 0 | ||
Transfers out, liabilities | 0 | ||
Purchases, liabilities | 0 | ||
Sales, liabilities | 0 | ||
Issuances, liabilities | 0 | ||
Settlements, liabilities | (26) | ||
Gain (loss) on transfers in/out included in trading revenues, liabilities | 0 | ||
Gain (loss) on all other activity included in trading revenues, liabilities | (84) | ||
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 | 82 | ||
Balance at end of period, liabilities | 1,826 | 1,826 | |
Bank | Long-term debt | Long-term debt - of which other debt instruments over two years | Net Revenue [Member] | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | 0 | ||
Bank | Other liabilities | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, liabilities | 517 | 1,250 | |
Transfers in, liabilities | 41 | 7 | |
Transfers out, liabilities | (2) | (533) | |
Purchases, liabilities | 8 | 24 | |
Sales, liabilities | (21) | (46) | |
Issuances, liabilities | 58 | 59 | |
Settlements, liabilities | (71) | (416) | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | (2) | 8 | |
Gain (loss) on all other activity included in trading revenues, liabilities | (22) | (8) | |
Gain (loss) on transfers in/out included in other revenues, liabilities | 1 | 102 | |
Gain (loss) on all other activity included in other revenues, liabilities | (35) | 38 | |
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 | 23 | 50 | |
Balance at end of period, liabilities | 495 | 495 | 535 |
Bank | Other liabilities | Net Revenue [Member] | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | 16 | 2 | |
Bank | Liabilities | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Balance at beginning of period, liabilities | 14,442 | 14,032 | |
Transfers in, liabilities | 2,280 | 3,443 | |
Transfers out, liabilities | (6,269) | (4,747) | |
Purchases, liabilities | 26 | 168 | |
Sales, liabilities | (118) | (156) | |
Issuances, liabilities | 5,730 | 6,100 | |
Settlements, liabilities | (4,175) | (5,281) | |
Gain (loss) on transfers in/out included in trading revenues, liabilities | (507) | 221 | |
Gain (loss) on all other activity included in trading revenues, liabilities | (1,142) | 240 | |
Gain (loss) on transfers in/out included in other revenues, liabilities | 1 | 102 | |
Gain (loss) on all other activity included in other revenues, liabilities | (35) | 38 | |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, liabilities | (35) | (3) | |
Gain (loss) on all other activity included in accumulated other comprehensive income, liabilities | (243) | (43) | |
Foreign currency translation impact, liabilities | 667 | 751 | |
Balance at end of period, liabilities | SFr 10,622 | 10,622 | 14,865 |
Bank | Liabilities | Net Revenue [Member] | |||
Liabilities measured at fair value on a recurring basis for level 3 | |||
Changes in unrealized gains/losses | SFr (980) | SFr 1,061 |
FI - Roll-forward of net assets
FI - Roll-forward of net assets measured at fair value on recurring basis (Details 7) - Recurring basis - CHF (SFr) SFr in Millions | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Net assets/liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, net assets/liabilities | SFr (3,865) | SFr 2,329 |
Transfers in, net assets/liabilities | (717) | (2,678) |
Transfers out, net assets/liabilities | 4,664 | 1,394 |
Purchases, net assets/liabilities | 4,074 | 5,267 |
Sales, net assets/liabilities | (3,871) | (5,628) |
Issuances, net assets/liabilities | (5,030) | (5,353) |
Settlements, net assets/liabilities | 3,056 | 2,651 |
Gain (loss) on transfers in/out included in trading revenues, net assets/liabilities | 570 | (161) |
Gain (loss) on all other activity included in trading revenues, net assets/liabilities | 560 | (78) |
Gain (loss) on transfers in/out included in other revenues, net assets/liabilities | (1) | (107) |
Gain (loss) on all other activity included in other revenues, net assets/liabilities | (21) | 255 |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, net assets/liabilities | 35 | 3 |
Gain (loss) on all other activity included in accumulated other comprehensive income, net assets/liabilities | 243 | 43 |
Foreign currency translation impact, net assets/liabilities | (178) | 4 |
Balance at beginning of period, net assets/liabilities | (481) | (2,059) |
Other Comprehensive Income (Loss) [Member] | ||
Net assets/liabilities measured at fair value on a recurring basis for level 3 | ||
Changes in unrealized gains/losses | 273 | 16 |
Trading Revenue [Member] | ||
Net assets/liabilities measured at fair value on a recurring basis for level 3 | ||
Changes in unrealized gains/losses | 1,044 | (1,011) |
Other Revenue [Member] | ||
Net assets/liabilities measured at fair value on a recurring basis for level 3 | ||
Changes in unrealized gains/losses | (77) | 25 |
Net Revenue [Member] | ||
Net assets/liabilities measured at fair value on a recurring basis for level 3 | ||
Changes in unrealized gains/losses | 1,240 | (970) |
Bank | ||
Net assets/liabilities measured at fair value on a recurring basis for level 3 | ||
Balance at beginning of period, net assets/liabilities | (3,864) | 2,332 |
Transfers in, net assets/liabilities | (717) | (2,660) |
Transfers out, net assets/liabilities | 4,664 | 1,375 |
Purchases, net assets/liabilities | 4,074 | 5,267 |
Sales, net assets/liabilities | (3,870) | (5,628) |
Issuances, net assets/liabilities | (5,030) | (5,353) |
Settlements, net assets/liabilities | 3,056 | 2,643 |
Gain (loss) on transfers in/out included in trading revenues, net assets/liabilities | 570 | (161) |
Gain (loss) on all other activity included in trading revenues, net assets/liabilities | 560 | (74) |
Gain (loss) on transfers in/out included in other revenues, net assets/liabilities | (1) | (102) |
Gain (loss) on all other activity included in other revenues, net assets/liabilities | (21) | 259 |
Gain (loss) on transfers in/out included in accumulated other comprehensive income, net assets/liabilities | 35 | 3 |
Gain (loss) on all other activity included in accumulated other comprehensive income, net assets/liabilities | 243 | 43 |
Foreign currency translation impact, net assets/liabilities | (181) | (3) |
Balance at beginning of period, net assets/liabilities | (482) | (2,059) |
Bank | Other Comprehensive Income (Loss) [Member] | ||
Net assets/liabilities measured at fair value on a recurring basis for level 3 | ||
Changes in unrealized gains/losses | 273 | 15 |
Bank | Trading Revenue [Member] | ||
Net assets/liabilities measured at fair value on a recurring basis for level 3 | ||
Changes in unrealized gains/losses | 1,044 | (1,003) |
Bank | Other Revenue [Member] | ||
Net assets/liabilities measured at fair value on a recurring basis for level 3 | ||
Changes in unrealized gains/losses | (77) | 28 |
Bank | Net Revenue [Member] | ||
Net assets/liabilities measured at fair value on a recurring basis for level 3 | ||
Changes in unrealized gains/losses | SFr 1,240 | SFr (960) |
FI - Difference between fair va
FI - Difference between fair value and unpaid principle balances (Details 10) - CHF (SFr) SFr in Millions | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
Financial instruments | |||
Cash and Due from Banks | SFr 165 | SFr 148 | SFr 308 |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 82,392 | 71,059 | 68,623 |
Loans | 9,099 | 9,545 | 10,243 |
Other assets | 8,616 | 9,214 | 9,184 |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (14,145) | (12,766) | (13,213) |
Short-term borrowings | (10,049) | (8,225) | (10,690) |
Long-term debt | (66,140) | (66,270) | (68,722) |
Other liabilities | (2,620) | SFr (2,562) | (2,592) |
Aggregate fair value | |||
Loans | |||
Non-interest-earning loans | 749 | 843 | |
Financial instruments | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 82,392 | 68,623 | |
Loans | 9,099 | 10,243 | |
Other assets | 8,099 | 8,624 | |
Due to banks and customer deposits | (344) | (493) | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (14,145) | (13,213) | |
Short-term borrowings | (10,049) | (10,690) | |
Long-term debt | (66,140) | (68,722) | |
Other liabilities | (1,253) | (1,170) | |
Aggregate unpaid principal | |||
Loans | |||
Non-interest-earning loans | 2,885 | 2,657 | |
Financial instruments | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 82,250 | 68,565 | |
Loans | 10,065 | 11,035 | |
Other assets | 10,456 | 10,777 | |
Due to banks and customer deposits | (424) | (442) | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (14,153) | (13,212) | |
Short-term borrowings | (10,199) | (10,996) | |
Long-term debt | (77,962) | (71,833) | |
Other liabilities | (1,498) | (1,403) | |
Difference | |||
Loans | |||
Non-interest-earning loans, Difference | (2,136) | (1,814) | |
Financial instruments | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 142 | 58 | |
Loans | (966) | (792) | |
Other assets | (2,357) | (2,153) | |
Due to banks and customer deposits | 80 | (51) | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 8 | (1) | |
Short-term borrowings | 150 | 306 | |
Long-term debt | 11,822 | 3,111 | |
Other liabilities | 245 | 233 | |
Bank | |||
Financial instruments | |||
Cash and Due from Banks | 165 | 308 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 82,392 | 68,623 | |
Loans | 9,099 | 10,243 | |
Other assets | 8,616 | 9,184 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (14,239) | (13,307) | |
Short-term borrowings | (10,049) | (10,690) | |
Long-term debt | (65,276) | (67,788) | |
Other liabilities | (2,604) | (2,568) | |
Bank | Aggregate fair value | |||
Loans | |||
Non-interest-earning loans | 749 | 843 | |
Financial instruments | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 82,392 | 68,623 | |
Loans | 9,099 | 10,243 | |
Other assets | 8,099 | 8,624 | |
Due to banks and customer deposits | (344) | (493) | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (14,239) | (13,307) | |
Short-term borrowings | (10,049) | (10,690) | |
Long-term debt | (65,276) | (67,788) | |
Other liabilities | (1,253) | (1,170) | |
Bank | Aggregate unpaid principal | |||
Loans | |||
Non-interest-earning loans | 2,885 | 2,657 | |
Financial instruments | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 82,250 | 68,565 | |
Loans | 10,065 | 11,035 | |
Other assets | 10,456 | 10,777 | |
Due to banks and customer deposits | (424) | (442) | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | (14,247) | (13,306) | |
Short-term borrowings | (10,199) | (10,996) | |
Long-term debt | (77,037) | (70,946) | |
Other liabilities | (1,498) | (1,403) | |
Bank | Difference | |||
Loans | |||
Non-interest-earning loans, Difference | (2,136) | (1,814) | |
Financial instruments | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 142 | 58 | |
Loans | (966) | (792) | |
Other assets | (2,357) | (2,153) | |
Due to banks and customer deposits | 80 | (51) | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 8 | (1) | |
Short-term borrowings | 150 | 306 | |
Long-term debt | 11,761 | 3,158 | |
Other liabilities | SFr 245 | SFr 233 |
FI - Gains_losses on financial
FI - Gains/losses on financial instruments (Details 11) - CHF (SFr) SFr in Millions | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Interest-bearing deposits with banks | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | SFr 5 | SFr 18 |
Net gains/(losses) of which related to credit risk - on assets | (6) | 8 |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | 412 | 306 |
Other investments | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | (11) | 293 |
Net gains/(losses) of which related to credit risk - on assets | (3) | 0 |
Loans | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | (24) | 277 |
Net gains/(losses) of which related to credit risk - on assets | (224) | 59 |
Other assets | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | 183 | 405 |
Net gains/(losses) of which related to credit risk - on assets | (85) | 173 |
Due to banks and customer deposits | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | (43) | (37) |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | (32) | (29) |
Short-term borrowings | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | 1,069 | (406) |
Net gains/(losses) of which related to credit risk - on liabilities | 1 | (1) |
Long-term debt | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | 6,115 | (3,802) |
Net gains/(losses) of which related to credit risk - on liabilities | 1 | 0 |
Other liabilities | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | (66) | 120 |
Net gains/(losses) of which related to credit risk - on liabilities | (158) | 67 |
Bank | Interest-bearing deposits with banks | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | 5 | 18 |
Net gains/(losses) of which related to credit risk - on assets | (6) | 8 |
Bank | Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | 412 | 306 |
Bank | Other investments | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | (11) | 293 |
Bank | Loans | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | (24) | 277 |
Net gains/(losses) of which related to credit risk - on assets | (224) | 59 |
Bank | Other assets | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | 183 | 405 |
Net gains/(losses) of which related to credit risk - on assets | (85) | 173 |
Bank | Due to banks and customer deposits | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | (43) | (37) |
Bank | Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | (32) | (29) |
Bank | Short-term borrowings | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | 1,069 | (406) |
Net gains/(losses) of which related to credit risk - on liabilities | 1 | (1) |
Bank | Long-term debt | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | 6,098 | (3,347) |
Bank | Other liabilities | ||
Gains (losses) on financial instruments | ||
Net gains/(losses) | (66) | 120 |
Net gains/(losses) of which related to credit risk - on liabilities | SFr (158) | SFr 67 |
FI - Quantitative information a
FI - Quantitative information about level 3 assets at fair value (Details 14) | Jun. 30, 2022 CHF (SFr) | Mar. 31, 2022 CHF (SFr) | Dec. 31, 2021 CHF (SFr) |
Assets | |||
Cash and Due from Banks | SFr 165,000,000 | SFr 148,000,000 | SFr 308,000,000 |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 82,392,000,000 | 71,059,000,000 | 68,623,000,000 |
Securities received as collateral | 7,386,000,000 | 8,084,000,000 | 15,017,000,000 |
Trading assets | 101,095,000,000 | 106,971,000,000 | 111,141,000,000 |
Available-for-sale Securities, Debt Securities | 739,000,000 | 809,000,000 | 1,005,000,000 |
Other investments | 3,987,000,000 | 4,019,000,000 | 4,094,000,000 |
Loans | 9,099,000,000 | 9,545,000,000 | 10,243,000,000 |
Other intangible assets (mortgage servicing rights), at fair value | 290,000,000 | 256,000,000 | 224,000,000 |
Other assets | 8,616,000,000 | SFr 9,214,000,000 | 9,184,000,000 |
Recurring basis | |||
Assets | |||
Cash and Due from Banks | 165,000,000 | 308,000,000 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 82,392,000,000 | 68,623,000,000 | |
Securities received as collateral | 7,386,000,000 | 15,017,000,000 | |
Trading assets | 101,095,000,000 | 111,141,000,000 | |
Available-for-sale Securities, Debt Securities | 739,000,000 | 1,005,000,000 | |
Other investments | 3,987,000,000 | 4,094,000,000 | |
Loans | 9,099,000,000 | 10,243,000,000 | |
Loans - of which commercial and industrial | 3,634,000,000 | 2,984,000,000 | |
Loans - of which financial institutions | 3,111,000,000 | 4,305,000,000 | |
Other intangible assets (mortgage servicing rights), at fair value | 290,000,000 | 224,000,000 | |
Other assets | 8,616,000,000 | 9,184,000,000 | |
Other assets - of which loans held-for-sale | 7,117,000,000 | 7,380,000,000 | |
Total assets at fair value | 213,769,000,000 | 219,839,000,000 | |
Recurring basis | Other equity investments | |||
Assets | |||
Other investments | 3,217,000,000 | 3,237,000,000 | |
Recurring basis | Life finance instruments | |||
Assets | |||
Other investments | 685,000,000 | 789,000,000 | |
Recurring basis | Debt securities | |||
Assets | |||
Trading assets | 57,030,000,000 | 54,198,000,000 | |
Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Assets | |||
Trading assets | 24,193,000,000 | 23,408,000,000 | |
Recurring basis | Debt securities | Corporate debt securities | |||
Assets | |||
Trading assets | 10,573,000,000 | 9,590,000,000 | |
Recurring basis | Debt securities | RMBS | |||
Assets | |||
Trading assets | 18,543,000,000 | 17,457,000,000 | |
Recurring basis | Equity securities | |||
Assets | |||
Trading assets | 24,711,000,000 | 36,546,000,000 | |
Recurring basis | Derivative instruments | |||
Assets | |||
Trading assets | 16,069,000,000 | 17,559,000,000 | |
Recurring basis | Other | |||
Assets | |||
Trading assets | 3,285,000,000 | 2,838,000,000 | |
Recurring basis | Level 3 | |||
Assets | |||
Cash and Due from Banks | 0 | 0 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 0 | 0 | |
Securities received as collateral | 0 | 14,000,000 | |
Trading assets | 4,400,000,000 | 4,503,000,000 | |
Available-for-sale Securities, Debt Securities | 0 | 0 | |
Other investments | 3,575,000,000 | 3,666,000,000 | |
Loans | 1,189,000,000 | 1,534,000,000 | |
Loans - of which commercial and industrial | 368,000,000 | 717,000,000 | |
Loans - of which financial institutions | 364,000,000 | 465,000,000 | |
Other intangible assets (mortgage servicing rights), at fair value | 255,000,000 | 167,000,000 | |
Other assets | 722,000,000 | 694,000,000 | |
Other assets - of which loans held-for-sale | 566,000,000 | 562,000,000 | |
Total assets at fair value | 10,141,000,000 | 10,578,000,000 | |
Recurring basis | Level 3 | Valuation Technique, Discounted Cash Flow [Member] | |||
Assets | |||
Loans - of which commercial and industrial | 199,000,000 | 474,000,000 | |
Loans - of which financial institutions | 250,000,000 | 327,000,000 | |
Other assets - of which loans held-for-sale | SFr 301,000,000 | SFr 281,000,000 | |
Recurring basis | Level 3 | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Minimum | |||
Assets | |||
Loans - of which commercial and industrial, measurement input | 451 | 184 | |
Loans - of which financial institutions, measurement input | 314 | 0 | |
Other assets - of which loans held-for-sale, measurement input | 355 | 0 | |
Recurring basis | Level 3 | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Maximum | |||
Assets | |||
Loans - of which commercial and industrial, measurement input | 8,199 | 3,325 | |
Loans - of which financial institutions, measurement input | 8,086 | 3,212 | |
Other assets - of which loans held-for-sale, measurement input | 1,032 | 563 | |
Recurring basis | Level 3 | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Weighted average | |||
Assets | |||
Loans - of which commercial and industrial, measurement input | 1,344 | 809 | |
Loans - of which financial institutions, measurement input | 1,283 | 921 | |
Other assets - of which loans held-for-sale, measurement input | 375 | 314 | |
Recurring basis | Level 3 | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Minimum | |||
Assets | |||
Other assets - of which loans held-for-sale, measurement input | 54 | ||
Recurring basis | Level 3 | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Maximum | |||
Assets | |||
Other assets - of which loans held-for-sale, measurement input | 54 | ||
Recurring basis | Level 3 | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Weighted average | |||
Assets | |||
Other assets - of which loans held-for-sale, measurement input | 8 | ||
Recurring basis | Level 3 | Price | |||
Assets | |||
Loans - of which commercial and industrial | SFr 165,000,000 | SFr 209,000,000 | |
Loans - of which financial institutions | SFr 113,000,000 | ||
Recurring basis | Level 3 | Price | Measurement Input, Quoted Price [Member] | Minimum | |||
Assets | |||
Loans - of which commercial and industrial, measurement input | 10 | 0 | |
Loans - of which financial institutions, measurement input | 13 | ||
Recurring basis | Level 3 | Price | Measurement Input, Quoted Price [Member] | Maximum | |||
Assets | |||
Loans - of which commercial and industrial, measurement input | 100 | 100 | |
Loans - of which financial institutions, measurement input | 68 | ||
Recurring basis | Level 3 | Price | Measurement Input, Quoted Price [Member] | Weighted average | |||
Assets | |||
Loans - of which commercial and industrial, measurement input | 51 | 50 | |
Loans - of which financial institutions, measurement input | 58 | ||
Recurring basis | Level 3 | Vendor price | |||
Assets | |||
Other assets - of which loans held-for-sale | SFr 20,000,000 | SFr 16,000,000 | |
Recurring basis | Level 3 | Vendor price | Measurement Input, Price Volatility [Member] | Minimum | |||
Assets | |||
Other assets - of which loans held-for-sale, measurement input | 0 | 0 | |
Recurring basis | Level 3 | Vendor price | Measurement Input, Price Volatility [Member] | Maximum | |||
Assets | |||
Other assets - of which loans held-for-sale, measurement input | 80 | 75 | |
Recurring basis | Level 3 | Vendor price | Measurement Input, Price Volatility [Member] | Weighted average | |||
Assets | |||
Other assets - of which loans held-for-sale, measurement input | 57 | 54 | |
Recurring basis | Level 3 | Market comparable | |||
Assets | |||
Loans - of which commercial and industrial | SFr 6,000,000 | ||
Loans - of which financial institutions | 158,000,000 | ||
Other assets - of which loans held-for-sale | SFr 234,000,000 | SFr 254,000,000 | |
Recurring basis | Level 3 | Market comparable | Measurement Input, Price Volatility [Member] | Minimum | |||
Assets | |||
Loans - of which commercial and industrial, measurement input | 19 | ||
Loans - of which financial institutions, measurement input | 14 | ||
Other assets - of which loans held-for-sale, measurement input | 0 | 0 | |
Recurring basis | Level 3 | Market comparable | Measurement Input, Price Volatility [Member] | Maximum | |||
Assets | |||
Loans - of which commercial and industrial, measurement input | 19 | ||
Loans - of which financial institutions, measurement input | 76 | ||
Other assets - of which loans held-for-sale, measurement input | 145 | 139 | |
Recurring basis | Level 3 | Market comparable | Measurement Input, Price Volatility [Member] | Weighted average | |||
Assets | |||
Loans - of which commercial and industrial, measurement input | 19 | ||
Loans - of which financial institutions, measurement input | 31 | ||
Other assets - of which loans held-for-sale, measurement input | 70 | 67 | |
Recurring basis | Level 3 | Other equity investments | |||
Assets | |||
Other investments | SFr 2,876,000,000 | SFr 2,863,000,000 | |
Recurring basis | Level 3 | Other equity investments | Valuation Technique, Option Pricing Model [Member] | |||
Assets | |||
Other investments | 1,820,000,000 | ||
Recurring basis | Level 3 | Other equity investments | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Price Volatility [Member] | Minimum | |||
Assets | |||
Other investments | 1 | 1 | |
Recurring basis | Level 3 | Other equity investments | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Price Volatility [Member] | Maximum | |||
Assets | |||
Other investments | 771 | 1,292 | |
Recurring basis | Level 3 | Other equity investments | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Price Volatility [Member] | Weighted average | |||
Assets | |||
Other investments | 26 | 54 | |
Recurring basis | Level 3 | Other equity investments | NAV/adjusted NAV | |||
Assets | |||
Other investments | 941,000,000 | 929,000,000 | |
Recurring basis | Level 3 | Other equity investments | NAV/adjusted NAV | Measurement Input, Price Volatility [Member] | Minimum | |||
Assets | |||
Other investments | 281 | 287 | |
Recurring basis | Level 3 | Other equity investments | NAV/adjusted NAV | Measurement Input, Price Volatility [Member] | Maximum | |||
Assets | |||
Other investments | 281 | 287 | |
Recurring basis | Level 3 | Other equity investments | NAV/adjusted NAV | Measurement Input, Price Volatility [Member] | Weighted average | |||
Assets | |||
Other investments | 281 | 287 | |
Recurring basis | Level 3 | Other equity investments | Market comparable | |||
Assets | |||
Other investments | 36,000,000 | 1,919,000,000 | |
Recurring basis | Level 3 | Other equity investments | Market comparable | Measurement Input, Price Volatility [Member] | Minimum | |||
Assets | |||
Other investments | 0 | ||
Recurring basis | Level 3 | Other equity investments | Market comparable | Measurement Input, Price Volatility [Member] | Maximum | |||
Assets | |||
Other investments | 85 | ||
Recurring basis | Level 3 | Other equity investments | Market comparable | Measurement Input, Price Volatility [Member] | Weighted average | |||
Assets | |||
Other investments | 19 | ||
Recurring basis | Level 3 | Life finance instruments | |||
Assets | |||
Other investments | 685,000,000 | 789,000,000 | |
Recurring basis | Level 3 | Life finance instruments | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Minimum | |||
Assets | |||
Other investments | 2 | 2 | |
Recurring basis | Level 3 | Life finance instruments | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Maximum | |||
Assets | |||
Other investments | 16 | 16 | |
Recurring basis | Level 3 | Life finance instruments | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Weighted average | |||
Assets | |||
Other investments | 6 | 6 | |
Recurring basis | Level 3 | Debt securities | |||
Assets | |||
Trading assets | 1,005,000,000 | 1,225,000,000 | |
Recurring basis | Level 3 | Debt securities | Debt securities issued by foreign governments | |||
Assets | |||
Trading assets | 91,000,000 | 35,000,000 | |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | |||
Assets | |||
Trading assets | 299,000,000 | 478,000,000 | |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Option model | |||
Assets | |||
Trading assets | 55,000,000 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Discounted Cash Flow [Member] | |||
Assets | |||
Trading assets | SFr 124,000,000 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Discounted Cash Flow [Member] | Consolidation, Eliminations [Member] | |||
Assets | |||
Trading assets | SFr 164,000,000 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 50 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 1,290 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 701 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Consolidation, Eliminations [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 100 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Consolidation, Eliminations [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 2,048 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Consolidation, Eliminations [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 633 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Price in percent [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | 0 | |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Price in percent [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 102 | 100 | |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Price in percent [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 46 | 47 | |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 73 | 39 | |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 73 | 39 | |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Recovery rate [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 3 | 1 | |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Correlation [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | (50) | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Correlation [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 100 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Correlation [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 68 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Fund gap risk [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Fund gap risk [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 3 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Fund gap risk [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 1 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Volatility [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Volatility [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 163 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Volatility [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 17 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Price | |||
Assets | |||
Trading assets | SFr 70,000,000 | SFr 69,000,000 | |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Price | Measurement Input, Price Volatility [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Price | Measurement Input, Price Volatility [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 11,250 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Price | Measurement Input, Price Volatility [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 3,534 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Price | Measurement Input, Price in percent [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 30 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Price | Measurement Input, Price in percent [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 100 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Price | Measurement Input, Price in percent [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 94 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Vendor price | |||
Assets | |||
Trading assets | SFr 145,000,000 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Vendor price | Measurement Input, Price Volatility [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Vendor price | Measurement Input, Price Volatility [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 123 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Vendor price | Measurement Input, Price Volatility [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 79 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Vendor price | Measurement Input, Price in percent [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 35 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Vendor price | Measurement Input, Price in percent [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 120 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Vendor price | Measurement Input, Price in percent [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 92 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Market comparable | |||
Assets | |||
Trading assets | SFr 62,000,000 | SFr 107,000,000 | |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Market comparable | Measurement Input, Price Volatility [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Market comparable | Measurement Input, Price Volatility [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 102 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Market comparable | Measurement Input, Price Volatility [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 41 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Market comparable | Measurement Input, Price in percent [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Market comparable | Measurement Input, Price in percent [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 110 | ||
Recurring basis | Level 3 | Debt securities | Corporate debt securities | Market comparable | Measurement Input, Price in percent [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 63 | ||
Recurring basis | Level 3 | Debt securities | RMBS | |||
Assets | |||
Trading assets | SFr 410,000,000 | SFr 424,000,000 | |
Recurring basis | Level 3 | Debt securities | RMBS | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 4 | 1 | |
Recurring basis | Level 3 | Debt securities | RMBS | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 28 | 29 | |
Recurring basis | Level 3 | Debt securities | RMBS | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 12 | 13 | |
Recurring basis | Level 3 | Equity securities | |||
Assets | |||
Trading assets | SFr 275,000,000 | SFr 195,000,000 | |
Recurring basis | Level 3 | Derivative instruments | |||
Assets | |||
Trading assets | 2,398,000,000 | 2,187,000,000 | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | |||
Assets | |||
Trading assets | 925,000,000 | 624,000,000 | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Option model | |||
Assets | |||
Trading assets | 907,000,000 | 612,000,000 | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Valuation Technique, Discounted Cash Flow [Member] | |||
Assets | |||
Trading assets | SFr 2,000,000 | SFr 6,000,000 | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Funding spread [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 109 | ||
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Funding spread [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 166 | ||
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Funding spread [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 127 | ||
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Volatility [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 93 | 0 | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Volatility [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 100 | 100 | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Volatility [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 97 | 97 | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Correlation [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | (11) | (4) | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Correlation [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 100 | 100 | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Correlation [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 35 | 9 | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Mean reversion [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 15 | (55) | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Mean reversion [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 15 | (8) | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Mean reversion [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 0 | 0 | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Prepayment Rate [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 15 | 0 | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Prepayment Rate [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 21 | 21 | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Prepayment Rate [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 18 | 17 | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Volatility [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | (3) | (3) | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Volatility [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 0 | 1 | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Volatility [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 0 | 0 | |
Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | |||
Assets | |||
Trading assets | SFr 88,000,000 | SFr 53,000,000 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | |||
Assets | |||
Trading assets | 464,000,000 | 212,000,000 | |
Recurring basis | Level 3 | Derivative instruments | Other derivatives | |||
Assets | |||
Trading assets | SFr 706,000,000 | SFr 1,034,000,000 | |
Recurring basis | Level 3 | Derivative instruments | Other derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 2 | 2 | |
Recurring basis | Level 3 | Derivative instruments | Other derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 14 | 14 | |
Recurring basis | Level 3 | Derivative instruments | Other derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 6 | 6 | |
Recurring basis | Level 3 | Derivative instruments | Other derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Mortality Rate [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 73 | 73 | |
Recurring basis | Level 3 | Derivative instruments | Other derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Mortality Rate [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 138 | 138 | |
Recurring basis | Level 3 | Derivative instruments | Other derivatives | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Mortality Rate [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 99 | 99 | |
Recurring basis | Level 3 | Other | |||
Assets | |||
Trading assets | SFr 722,000,000 | SFr 896,000,000 | |
Recurring basis | Level 3 | Other | Option model | |||
Assets | |||
Trading assets | SFr 48,000,000 | SFr 93,000,000 | |
Recurring basis | Level 3 | Other | Option model | Measurement Input, Mortality Rate [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | 0 | |
Recurring basis | Level 3 | Other | Option model | Measurement Input, Mortality Rate [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 70 | 70 | |
Recurring basis | Level 3 | Other | Option model | Measurement Input, Mortality Rate [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 6 | 6 | |
Recurring basis | Level 3 | Other | Valuation Technique, Discounted Cash Flow [Member] | |||
Assets | |||
Trading assets | SFr 478,000,000 | SFr 611,000,000 | |
Recurring basis | Level 3 | Other | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 3 | 3 | |
Recurring basis | Level 3 | Other | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 13 | 14 | |
Recurring basis | Level 3 | Other | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Market implied life expectancy [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 7 | 7 | |
Recurring basis | Level 3 | Other | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Tax Swap Rate [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 30 | 30 | |
Recurring basis | Level 3 | Other | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Tax Swap Rate [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 30 | 30 | |
Recurring basis | Level 3 | Other | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Tax Swap Rate [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 30 | 30 | |
Recurring basis | Level 3 | Other | Market comparable | |||
Assets | |||
Trading assets | SFr 195,000,000 | SFr 189,000,000 | |
Recurring basis | Level 3 | Other | Market comparable | Measurement Input, Price Volatility [Member] | Minimum | |||
Assets | |||
Trading assets, measurement input | 0 | 0 | |
Recurring basis | Level 3 | Other | Market comparable | Measurement Input, Price Volatility [Member] | Maximum | |||
Assets | |||
Trading assets, measurement input | 113 | 130 | |
Recurring basis | Level 3 | Other | Market comparable | Measurement Input, Price Volatility [Member] | Weighted average | |||
Assets | |||
Trading assets, measurement input | 48 | 34 | |
Bank | |||
Assets | |||
Cash and Due from Banks | SFr 165,000,000 | SFr 308,000,000 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 82,392,000,000 | 68,623,000,000 | |
Securities received as collateral | 7,386,000,000 | 15,017,000,000 | |
Trading assets | 101,232,000,000 | 111,299,000,000 | |
Available-for-sale Securities, Debt Securities | 737,000,000 | 1,003,000,000 | |
Other investments | 3,985,000,000 | 4,093,000,000 | |
Loans | 9,099,000,000 | 10,243,000,000 | |
Other intangible assets (mortgage servicing rights), at fair value | 290,000,000 | 224,000,000 | |
Other assets | 8,616,000,000 | 9,184,000,000 | |
Bank | Recurring basis | |||
Assets | |||
Cash and Due from Banks | 165,000,000 | 308,000,000 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 82,392,000,000 | 68,623,000,000 | |
Securities received as collateral | 7,386,000,000 | 15,017,000,000 | |
Trading assets | 101,232,000,000 | 111,299,000,000 | |
Available-for-sale Securities, Debt Securities | 737,000,000 | 1,003,000,000 | |
Other investments | 3,985,000,000 | 4,093,000,000 | |
Loans | 9,099,000,000 | 10,243,000,000 | |
Loans - of which commercial and industrial | 3,634,000,000 | 2,984,000,000 | |
Loans - of which financial institutions | 3,111,000,000 | 4,305,000,000 | |
Other intangible assets (mortgage servicing rights), at fair value | 290,000,000 | 224,000,000 | |
Other assets | 8,616,000,000 | 9,184,000,000 | |
Other assets - of which loans held-for-sale | 7,117,000,000 | 7,380,000,000 | |
Total assets at fair value | 213,902,000,000 | 219,994,000,000 | |
Bank | Recurring basis | Other equity investments | |||
Assets | |||
Other investments | 3,216,000,000 | 3,237,000,000 | |
Bank | Recurring basis | Life finance instruments | |||
Assets | |||
Other investments | 685,000,000 | 789,000,000 | |
Bank | Recurring basis | Debt securities | |||
Assets | |||
Trading assets | 57,130,000,000 | 54,297,000,000 | |
Bank | Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Assets | |||
Trading assets | 24,193,000,000 | 23,408,000,000 | |
Bank | Recurring basis | Debt securities | Corporate debt securities | |||
Assets | |||
Trading assets | 10,672,000,000 | 9,689,000,000 | |
Bank | Recurring basis | Debt securities | RMBS | |||
Assets | |||
Trading assets | 18,543,000,000 | 17,457,000,000 | |
Bank | Recurring basis | Equity securities | |||
Assets | |||
Trading assets | 24,748,000,000 | 36,606,000,000 | |
Bank | Recurring basis | Derivative instruments | |||
Assets | |||
Trading assets | 16,069,000,000 | 17,559,000,000 | |
Bank | Recurring basis | Other | |||
Assets | |||
Trading assets | 3,285,000,000 | 2,837,000,000 | |
Bank | Recurring basis | Level 3 | |||
Assets | |||
Cash and Due from Banks | 0 | 0 | |
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 0 | 0 | |
Securities received as collateral | 0 | 14,000,000 | |
Trading assets | 4,400,000,000 | 4,503,000,000 | |
Available-for-sale Securities, Debt Securities | 0 | 0 | |
Other investments | 3,574,000,000 | 3,666,000,000 | |
Loans | 1,189,000,000 | 1,534,000,000 | |
Loans - of which commercial and industrial | 368,000,000 | 717,000,000 | |
Loans - of which financial institutions | 364,000,000 | 465,000,000 | |
Other intangible assets (mortgage servicing rights), at fair value | 255,000,000 | 167,000,000 | |
Other assets | 722,000,000 | 694,000,000 | |
Other assets - of which loans held-for-sale | 566,000,000 | 562,000,000 | |
Total assets at fair value | 10,140,000,000 | 10,578,000,000 | |
Bank | Recurring basis | Level 3 | Other equity investments | |||
Assets | |||
Other investments | 2,875,000,000 | 2,863,000,000 | |
Bank | Recurring basis | Level 3 | Life finance instruments | |||
Assets | |||
Other investments | 685,000,000 | 789,000,000 | |
Bank | Recurring basis | Level 3 | Debt securities | |||
Assets | |||
Trading assets | 1,005,000,000 | 1,225,000,000 | |
Bank | Recurring basis | Level 3 | Debt securities | Debt securities issued by foreign governments | |||
Assets | |||
Trading assets | 91,000,000 | 35,000,000 | |
Bank | Recurring basis | Level 3 | Debt securities | Corporate debt securities | |||
Assets | |||
Trading assets | 299,000,000 | 478,000,000 | |
Bank | Recurring basis | Level 3 | Debt securities | RMBS | |||
Assets | |||
Trading assets | 410,000,000 | 424,000,000 | |
Bank | Recurring basis | Level 3 | Equity securities | |||
Assets | |||
Trading assets | 275,000,000 | 195,000,000 | |
Bank | Recurring basis | Level 3 | Derivative instruments | |||
Assets | |||
Trading assets | 2,398,000,000 | 2,187,000,000 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | |||
Assets | |||
Trading assets | 925,000,000 | 624,000,000 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | |||
Assets | |||
Trading assets | 88,000,000 | 53,000,000 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | |||
Assets | |||
Trading assets | 464,000,000 | 212,000,000 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Other derivatives | |||
Assets | |||
Trading assets | 706,000,000 | 1,034,000,000 | |
Bank | Recurring basis | Level 3 | Other | |||
Assets | |||
Trading assets | SFr 722,000,000 | SFr 896,000,000 |
FI - Quantitative information_2
FI - Quantitative information about level 3 liabilities at fair value (Details 15) SFr in Millions | Jun. 30, 2022 CHF (SFr) | Mar. 31, 2022 CHF (SFr) | Dec. 31, 2021 CHF (SFr) |
Liabilities | |||
Due to banks | SFr 355 | SFr 404 | SFr 477 |
Customer deposits | 3,307 | 3,437 | 3,700 |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 14,145 | 12,766 | 13,213 |
Obligation to return securities received as collateral | 7,386 | 8,084 | 15,017 |
Trading liabilities | 29,967 | 28,184 | 27,535 |
Short-term borrowings | 10,049 | 8,225 | 10,690 |
Long-term debt | 66,140 | 66,270 | 68,722 |
Other liabilities | 2,620 | SFr 2,562 | 2,592 |
Recurring basis | |||
Liabilities | |||
Due to banks | 355 | 477 | |
Customer deposits | 3,307 | 3,700 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 14,145 | 13,213 | |
Obligation to return securities received as collateral | 7,386 | 15,017 | |
Trading liabilities | 29,967 | 27,535 | |
Short-term borrowings | 10,049 | 10,690 | |
Long-term debt | 66,140 | 68,722 | |
Other liabilities | 2,620 | 2,592 | |
Total liabilities at fair value | 133,969 | 141,946 | |
Recurring basis | Long-term debt - of which structured notes over one year and up to two years | |||
Liabilities | |||
Long-term debt | 12,988 | 12,500 | |
Recurring basis | Long-term debt - of which structured notes over two years | |||
Liabilities | |||
Long-term debt | 28,814 | 30,486 | |
Recurring basis | Long-term debt - of which other debt instruments over two years | |||
Liabilities | |||
Long-term debt | 4,967 | 5,077 | |
Recurring basis | Long-term debt - of which high-trigger instruments | |||
Liabilities | |||
Long-term debt | 10,593 | 10,702 | |
Recurring basis | Debt securities | |||
Liabilities | |||
Trading liabilities | 7,913 | 7,677 | |
Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Liabilities | |||
Trading liabilities | 3,701 | 3,635 | |
Recurring basis | Debt securities | Corporate debt securities | |||
Liabilities | |||
Trading liabilities | 4,161 | 3,955 | |
Recurring basis | Equity securities | |||
Liabilities | |||
Trading liabilities | 6,102 | 9,012 | |
Recurring basis | Short positions | |||
Liabilities | |||
Trading liabilities | 14,015 | 16,689 | |
Recurring basis | Derivative instruments | |||
Liabilities | |||
Trading liabilities | 15,952 | 10,846 | |
Recurring basis | Derivative instruments | Other derivatives | |||
Liabilities | |||
Trading liabilities | 296 | ||
Recurring basis | Level 3 | |||
Liabilities | |||
Due to banks | 0 | 0 | |
Customer deposits | 299 | 394 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 0 | 0 | |
Obligation to return securities received as collateral | 0 | 14 | |
Trading liabilities | 2,456 | 2,809 | |
Short-term borrowings | 716 | 1,032 | |
Long-term debt | 6,656 | 9,676 | |
Other liabilities | 495 | 518 | |
Total liabilities at fair value | 10,622 | 14,443 | |
Recurring basis | Level 3 | Option model | |||
Liabilities | |||
Short-term borrowings | SFr 475 | SFr 905 | |
Recurring basis | Level 3 | Option model | Measurement Input, Buyback probability [Member] | Minimum | |||
Liabilities | |||
Short-term borrowings, measurement input | 50 | ||
Recurring basis | Level 3 | Option model | Measurement Input, Buyback probability [Member] | Maximum | |||
Liabilities | |||
Short-term borrowings, measurement input | 100 | ||
Recurring basis | Level 3 | Option model | Measurement Input, Buyback probability [Member] | Weighted average | |||
Liabilities | |||
Short-term borrowings, measurement input | 72 | ||
Recurring basis | Level 3 | Option model | Measurement Input, Credit Spread [Member] | Minimum | |||
Liabilities | |||
Short-term borrowings, measurement input | (13) | ||
Recurring basis | Level 3 | Option model | Measurement Input, Credit Spread [Member] | Maximum | |||
Liabilities | |||
Short-term borrowings, measurement input | 237 | ||
Recurring basis | Level 3 | Option model | Measurement Input, Credit Spread [Member] | Weighted average | |||
Liabilities | |||
Short-term borrowings, measurement input | 216 | ||
Recurring basis | Level 3 | Option model | Measurement Input, Correlation [Member] | Minimum | |||
Liabilities | |||
Short-term borrowings, measurement input | (50) | (50) | |
Recurring basis | Level 3 | Option model | Measurement Input, Correlation [Member] | Maximum | |||
Liabilities | |||
Short-term borrowings, measurement input | 100 | 100 | |
Recurring basis | Level 3 | Option model | Measurement Input, Correlation [Member] | Weighted average | |||
Liabilities | |||
Short-term borrowings, measurement input | 71 | 70 | |
Recurring basis | Level 3 | Option model | Measurement Input, Fund gap risk [Member] | Minimum | |||
Liabilities | |||
Short-term borrowings, measurement input | 0 | 0 | |
Recurring basis | Level 3 | Option model | Measurement Input, Fund gap risk [Member] | Maximum | |||
Liabilities | |||
Short-term borrowings, measurement input | 2 | 3 | |
Recurring basis | Level 3 | Option model | Measurement Input, Fund gap risk [Member] | Weighted average | |||
Liabilities | |||
Short-term borrowings, measurement input | 1 | 1 | |
Recurring basis | Level 3 | Option model | Measurement Input, Gap risk [Member] | Minimum | |||
Liabilities | |||
Short-term borrowings, measurement input | 0 | 0 | |
Recurring basis | Level 3 | Option model | Measurement Input, Gap risk [Member] | Maximum | |||
Liabilities | |||
Short-term borrowings, measurement input | 4 | 3 | |
Recurring basis | Level 3 | Option model | Measurement Input, Gap risk [Member] | Weighted average | |||
Liabilities | |||
Short-term borrowings, measurement input | 1 | 1 | |
Recurring basis | Level 3 | Option model | Measurement Input, Volatility [Member] | Minimum | |||
Liabilities | |||
Short-term borrowings, measurement input | 6 | 0 | |
Recurring basis | Level 3 | Option model | Measurement Input, Volatility [Member] | Maximum | |||
Liabilities | |||
Short-term borrowings, measurement input | 185 | 163 | |
Recurring basis | Level 3 | Option model | Measurement Input, Volatility [Member] | Weighted average | |||
Liabilities | |||
Short-term borrowings, measurement input | 35 | 16 | |
Recurring basis | Level 3 | Option model | Measurement Input, Unadjusted NAV [Member] | Minimum | |||
Liabilities | |||
Short-term borrowings, measurement input | 101 | ||
Recurring basis | Level 3 | Option model | Measurement Input, Unadjusted NAV [Member] | Maximum | |||
Liabilities | |||
Short-term borrowings, measurement input | 440 | ||
Recurring basis | Level 3 | Option model | Measurement Input, Unadjusted NAV [Member] | Weighted average | |||
Liabilities | |||
Short-term borrowings, measurement input | 358 | ||
Recurring basis | Level 3 | Valuation Technique, Discounted Cash Flow [Member] | |||
Liabilities | |||
Short-term borrowings | SFr 142 | SFr 24 | |
Recurring basis | Level 3 | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Minimum | |||
Liabilities | |||
Short-term borrowings, measurement input | 4 | 0 | |
Recurring basis | Level 3 | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Maximum | |||
Liabilities | |||
Short-term borrowings, measurement input | 284 | 181 | |
Recurring basis | Level 3 | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Weighted average | |||
Liabilities | |||
Short-term borrowings, measurement input | 3 | 51 | |
Recurring basis | Level 3 | Price | |||
Liabilities | |||
Short-term borrowings | SFr 7 | ||
Recurring basis | Level 3 | Price | Measurement Input, Price in percent [Member] | Minimum | |||
Liabilities | |||
Short-term borrowings, measurement input | 19 | ||
Recurring basis | Level 3 | Price | Measurement Input, Price in percent [Member] | Maximum | |||
Liabilities | |||
Short-term borrowings, measurement input | 120 | ||
Recurring basis | Level 3 | Price | Measurement Input, Price in percent [Member] | Weighted average | |||
Liabilities | |||
Short-term borrowings, measurement input | 52 | ||
Recurring basis | Level 3 | Market comparable | |||
Liabilities | |||
Short-term borrowings | SFr 73 | ||
Recurring basis | Level 3 | Market comparable | Measurement Input, Price Volatility [Member] | Minimum | |||
Liabilities | |||
Short-term borrowings, measurement input | 34 | ||
Recurring basis | Level 3 | Market comparable | Measurement Input, Price Volatility [Member] | Maximum | |||
Liabilities | |||
Short-term borrowings, measurement input | 120 | ||
Recurring basis | Level 3 | Market comparable | Measurement Input, Price Volatility [Member] | Weighted average | |||
Liabilities | |||
Short-term borrowings, measurement input | 94 | ||
Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | |||
Liabilities | |||
Long-term debt | SFr 320 | SFr 1,464 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Buyback probability [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | 50 | ||
Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Buyback probability [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 100 | ||
Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Buyback probability [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 72 | ||
Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Correlation [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | (50) | ||
Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Correlation [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 100 | ||
Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Correlation [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 69 | ||
Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Fund gap risk [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | 0 | ||
Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Fund gap risk [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 3 | ||
Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Fund gap risk [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 1 | ||
Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Gap risk [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | 0 | ||
Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Gap risk [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 3 | ||
Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Gap risk [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 1 | ||
Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Volatility [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | 0 | ||
Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Volatility [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 163 | ||
Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Volatility [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 16 | ||
Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Unadjusted NAV [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | 101 | ||
Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Unadjusted NAV [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 440 | ||
Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | Option model | Measurement Input, Unadjusted NAV [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 358 | ||
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | |||
Liabilities | |||
Long-term debt | 4,383 | SFr 6,318 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | |||
Liabilities | |||
Long-term debt | SFr 3,901 | SFr 5,813 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Buyback probability [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | 50 | 50 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Buyback probability [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 100 | 100 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Buyback probability [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 72 | 72 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Credit Spread [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | (13) | 3 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Credit Spread [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 237 | 92 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Credit Spread [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 216 | 75 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Correlation [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | (50) | (50) | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Correlation [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 100 | 100 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Correlation [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 71 | 75 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Fund gap risk [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | 0 | 0 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Fund gap risk [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 2 | 3 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Fund gap risk [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 1 | 1 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Mean reversion [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | 15 | ||
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Mean reversion [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 15 | ||
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Mean reversion [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 7 | ||
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Volatility [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | 0 | 0 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Volatility [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 185 | 163 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Volatility [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 26 | 19 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Unadjusted NAV [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | 89 | 101 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Unadjusted NAV [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 416 | 440 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Option model | Measurement Input, Unadjusted NAV [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 328 | 358 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Valuation Technique, Discounted Cash Flow [Member] | |||
Liabilities | |||
Long-term debt | SFr 474 | ||
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Valuation Technique, Discounted Cash Flow [Member] | Consolidation, Eliminations [Member] | |||
Liabilities | |||
Long-term debt | SFr 421 | ||
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | 8 | ||
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 702 | ||
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 72 | ||
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Consolidation, Eliminations [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | 9 | ||
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Consolidation, Eliminations [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 1,677 | ||
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Credit Spread [Member] | Consolidation, Eliminations [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 99 | ||
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Price | |||
Liabilities | |||
Long-term debt | SFr 9 | SFr 9 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Price | Measurement Input, Price in percent [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | 25 | 26 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Price | Measurement Input, Price in percent [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 25 | 26 | |
Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | Price | Measurement Input, Price in percent [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 25 | 26 | |
Recurring basis | Level 3 | Long-term debt - of which other debt instruments over two years | |||
Liabilities | |||
Long-term debt | SFr 1,826 | SFr 1,854 | |
Recurring basis | Level 3 | Long-term debt - of which other debt instruments over two years | Option model | |||
Liabilities | |||
Long-term debt | SFr 364 | SFr 382 | |
Recurring basis | Level 3 | Long-term debt - of which other debt instruments over two years | Option model | Measurement Input, Buyback probability [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | 50 | 50 | |
Recurring basis | Level 3 | Long-term debt - of which other debt instruments over two years | Option model | Measurement Input, Buyback probability [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 100 | 100 | |
Recurring basis | Level 3 | Long-term debt - of which other debt instruments over two years | Option model | Measurement Input, Buyback probability [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 72 | 72 | |
Recurring basis | Level 3 | Long-term debt - of which other debt instruments over two years | Option model | Measurement Input, Correlation [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | 16 | 16 | |
Recurring basis | Level 3 | Long-term debt - of which other debt instruments over two years | Option model | Measurement Input, Correlation [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 30 | 30 | |
Recurring basis | Level 3 | Long-term debt - of which other debt instruments over two years | Option model | Measurement Input, Correlation [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 24 | 24 | |
Recurring basis | Level 3 | Long-term debt - of which other debt instruments over two years | Option model | Measurement Input, Price Volatility [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | 9 | 9 | |
Recurring basis | Level 3 | Long-term debt - of which other debt instruments over two years | Option model | Measurement Input, Price Volatility [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 9 | 9 | |
Recurring basis | Level 3 | Long-term debt - of which other debt instruments over two years | Option model | Measurement Input, Price Volatility [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 9 | 9 | |
Recurring basis | Level 3 | Long-term debt - of which other debt instruments over two years | Price | |||
Liabilities | |||
Long-term debt | SFr 1,461 | SFr 1,472 | |
Recurring basis | Level 3 | Long-term debt - of which other debt instruments over two years | Price | Measurement Input, Price Volatility [Member] | Minimum | |||
Liabilities | |||
Long-term debt, measurement input | 9 | 9 | |
Recurring basis | Level 3 | Long-term debt - of which other debt instruments over two years | Price | Measurement Input, Price Volatility [Member] | Maximum | |||
Liabilities | |||
Long-term debt, measurement input | 9 | 35 | |
Recurring basis | Level 3 | Long-term debt - of which other debt instruments over two years | Price | Measurement Input, Price Volatility [Member] | Weighted average | |||
Liabilities | |||
Long-term debt, measurement input | 9 | 9 | |
Recurring basis | Level 3 | Long-term debt - of which high-trigger instruments | |||
Liabilities | |||
Long-term debt | SFr 0 | SFr 0 | |
Recurring basis | Level 3 | Debt securities | |||
Liabilities | |||
Trading liabilities | 7 | 3 | |
Recurring basis | Level 3 | Debt securities | Debt securities issued by foreign governments | |||
Liabilities | |||
Trading liabilities | 0 | 0 | |
Recurring basis | Level 3 | Debt securities | Corporate debt securities | |||
Liabilities | |||
Trading liabilities | 7 | 3 | |
Recurring basis | Level 3 | Equity securities | |||
Liabilities | |||
Trading liabilities | 47 | 22 | |
Recurring basis | Level 3 | Short positions | |||
Liabilities | |||
Trading liabilities | 54 | 25 | |
Recurring basis | Level 3 | Derivative instruments | |||
Liabilities | |||
Trading liabilities | 2,402 | 2,784 | |
Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | |||
Liabilities | |||
Trading liabilities | 55 | 26 | |
Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | |||
Liabilities | |||
Trading liabilities | 14 | 57 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | |||
Liabilities | |||
Trading liabilities | 1,447 | 1,787 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | |||
Liabilities | |||
Trading liabilities | SFr 1,393 | SFr 1,696 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Buyback probability [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 50 | 50 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Buyback probability [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 100 | 100 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Buyback probability [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 72 | 72 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Correlation [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | (50) | (50) | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Correlation [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 100 | 100 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Correlation [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 68 | 67 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Volatility [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | (1) | (1) | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Volatility [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 185 | 163 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Volatility [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 32 | 17 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Unadjusted NAV [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 89 | 101 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Unadjusted NAV [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 416 | 440 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Unadjusted NAV [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 328 | 358 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Dividend yield [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 0 | 0 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Dividend yield [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 15 | 7 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Option model | Measurement Input, Dividend yield [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 4 | 4 | |
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Price | |||
Liabilities | |||
Trading liabilities | SFr 63 | ||
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Price | Measurement Input, Price Volatility [Member] | Minimum | |||
Liabilities | |||
Trading liabilities, measurement input | 0 | ||
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Price | Measurement Input, Price Volatility [Member] | Maximum | |||
Liabilities | |||
Trading liabilities, measurement input | 849 | ||
Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | Price | Measurement Input, Price Volatility [Member] | Weighted average | |||
Liabilities | |||
Trading liabilities, measurement input | 2 | ||
Recurring basis | Level 3 | Derivative instruments | Other derivatives | |||
Liabilities | |||
Trading liabilities | SFr 560 | ||
Bank | |||
Liabilities | |||
Due to banks | 355 | SFr 477 | |
Customer deposits | 3,307 | 3,700 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 14,239 | 13,307 | |
Obligation to return securities received as collateral | 7,386 | 15,017 | |
Trading liabilities | 29,967 | 27,539 | |
Short-term borrowings | 10,049 | 10,690 | |
Long-term debt | 65,276 | 67,788 | |
Other liabilities | 2,604 | 2,568 | |
Bank | Recurring basis | |||
Liabilities | |||
Due to banks | 355 | 477 | |
Customer deposits | 3,307 | 3,700 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 14,239 | 13,307 | |
Obligation to return securities received as collateral | 7,386 | 15,017 | |
Trading liabilities | 29,967 | 27,539 | |
Short-term borrowings | 10,049 | 10,690 | |
Long-term debt | 65,276 | 67,788 | |
Other liabilities | 2,604 | 2,568 | |
Total liabilities at fair value | 133,183 | 141,086 | |
Bank | Recurring basis | Long-term debt - of which structured notes over one year and up to two years | |||
Liabilities | |||
Long-term debt | 12,988 | 12,500 | |
Bank | Recurring basis | Long-term debt - of which structured notes over two years | |||
Liabilities | |||
Long-term debt | 28,814 | 30,486 | |
Bank | Recurring basis | Long-term debt - of which other debt instruments over two years | |||
Liabilities | |||
Long-term debt | 4,967 | 5,077 | |
Bank | Recurring basis | Long-term debt - of which high-trigger instruments | |||
Liabilities | |||
Long-term debt | 10,621 | 10,708 | |
Bank | Recurring basis | Long-term debt - of which other subordinated bonds | |||
Liabilities | |||
Long-term debt | 7,133 | ||
Bank | Recurring basis | Debt securities | |||
Liabilities | |||
Trading liabilities | 7,913 | 7,677 | |
Bank | Recurring basis | Debt securities | Debt securities issued by foreign governments | |||
Liabilities | |||
Trading liabilities | 3,701 | 3,635 | |
Bank | Recurring basis | Debt securities | Corporate debt securities | |||
Liabilities | |||
Trading liabilities | 4,161 | 3,955 | |
Bank | Recurring basis | Equity securities | |||
Liabilities | |||
Trading liabilities | 6,102 | 9,016 | |
Bank | Recurring basis | Short positions | |||
Liabilities | |||
Trading liabilities | 14,015 | 16,693 | |
Bank | Recurring basis | Derivative instruments | |||
Liabilities | |||
Trading liabilities | 15,952 | 10,846 | |
Bank | Recurring basis | Level 3 | |||
Liabilities | |||
Due to banks | 0 | 0 | |
Customer deposits | 299 | 394 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 0 | 0 | |
Obligation to return securities received as collateral | 0 | 14 | |
Trading liabilities | 2,456 | 2,809 | |
Short-term borrowings | 716 | 1,032 | |
Long-term debt | 6,656 | 9,676 | |
Other liabilities | 495 | 517 | |
Total liabilities at fair value | 10,622 | 14,442 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which structured notes over one year and up to two years | |||
Liabilities | |||
Long-term debt | 320 | 1,464 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which structured notes over two years | |||
Liabilities | |||
Long-term debt | 4,383 | 6,318 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which other debt instruments over two years | |||
Liabilities | |||
Long-term debt | 1,826 | 1,854 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which high-trigger instruments | |||
Liabilities | |||
Long-term debt | 0 | 0 | |
Bank | Recurring basis | Level 3 | Long-term debt - of which other subordinated bonds | |||
Liabilities | |||
Long-term debt | 0 | ||
Bank | Recurring basis | Level 3 | Debt securities | |||
Liabilities | |||
Trading liabilities | 7 | 3 | |
Bank | Recurring basis | Level 3 | Debt securities | Debt securities issued by foreign governments | |||
Liabilities | |||
Trading liabilities | 0 | 0 | |
Bank | Recurring basis | Level 3 | Debt securities | Corporate debt securities | |||
Liabilities | |||
Trading liabilities | 7 | 3 | |
Bank | Recurring basis | Level 3 | Equity securities | |||
Liabilities | |||
Trading liabilities | 47 | 22 | |
Bank | Recurring basis | Level 3 | Short positions | |||
Liabilities | |||
Trading liabilities | 54 | 25 | |
Bank | Recurring basis | Level 3 | Derivative instruments | |||
Liabilities | |||
Trading liabilities | 2,402 | 2,784 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Interest rate derivatives | |||
Liabilities | |||
Trading liabilities | 55 | 26 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Foreign exchange derivatives | |||
Liabilities | |||
Trading liabilities | 14 | 57 | |
Bank | Recurring basis | Level 3 | Derivative instruments | Equity/Index-related products | |||
Liabilities | |||
Trading liabilities | SFr 1,447 | SFr 1,787 |
FI - Carrying value and fair va
FI - Carrying value and fair value not held at fair value (Details 16) - CHF (SFr) SFr in Millions | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
Financial assets | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | SFr 82,392 | SFr 71,059 | SFr 68,623 |
Available-for-sale Securities, Debt Securities | 739 | 809 | 1,005 |
Loans | 9,099 | 9,545 | 10,243 |
Other assets | 8,616 | 9,214 | 9,184 |
Financial liabilities | |||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 14,145 | 12,766 | 13,213 |
Short-term borrowings | 10,049 | 8,225 | 10,690 |
Long-term debt | 66,140 | 66,270 | 68,722 |
Other liabilities | 2,620 | SFr 2,562 | 2,592 |
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 | 21,764 | 35,283 | |
Loans | 272,679 | 277,766 | |
Other assets | 176,550 | 180,024 | |
Financial liabilities | |||
Due to banks and deposits | 409,439 | 407,607 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 7,423 | 22,061 | |
Short-term borrowings | 10,096 | 8,703 | |
Long-term debt | 91,870 | 98,174 | |
Other liabilities | 12,096 | 12,460 | |
Estimate of fair value | |||
Financial assets | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 21,764 | 35,283 | |
Loans | 272,571 | 286,249 | |
Other assets | 176,569 | 180,069 | |
Financial liabilities | |||
Due to banks and deposits | 409,370 | 407,613 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 7,423 | 22,061 | |
Short-term borrowings | 10,089 | 8,702 | |
Long-term debt | 88,697 | 100,557 | |
Other liabilities | 12,100 | 12,465 | |
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 | 158,919 | 164,097 | |
Financial liabilities | |||
Due to banks and deposits | 231,966 | 243,324 | |
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 | 1 | |
Estimate of fair value | Level 2 | |||
Financial assets | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 21,764 | 35,283 | |
Loans | 259,081 | 272,527 | |
Other assets | 17,298 | 15,469 | |
Financial liabilities | |||
Due to banks and deposits | 177,404 | 164,289 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 7,423 | 22,061 | |
Short-term borrowings | 10,089 | 8,702 | |
Long-term debt | 87,000 | 98,841 | |
Other liabilities | 11,716 | 12,021 | |
Estimate of fair value | Level 3 | |||
Financial assets | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 0 | 0 | |
Loans | 13,490 | 13,722 | |
Other assets | 352 | 503 | |
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 | 1,697 | 1,716 | |
Other liabilities | 384 | 443 | |
Bank | |||
Financial assets | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 82,392 | 68,623 | |
Available-for-sale Securities, Debt Securities | 737 | 1,003 | |
Loans | 9,099 | 10,243 | |
Other assets | 8,616 | 9,184 | |
Financial liabilities | |||
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 14,239 | 13,307 | |
Short-term borrowings | 10,049 | 10,690 | |
Long-term debt | 65,276 | 67,788 | |
Other liabilities | 2,604 | 2,568 | |
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 | 21,764 | 35,283 | |
Loans | 281,111 | 286,438 | |
Other assets | 175,796 | 179,217 | |
Financial liabilities | |||
Due to banks and deposits | 410,715 | 408,624 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 7,423 | 22,061 | |
Short-term borrowings | 15,518 | 14,646 | |
Long-term debt | 87,072 | 92,908 | |
Other liabilities | 12,302 | 12,542 | |
Bank | Estimate of fair value | |||
Financial assets | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 21,764 | 35,283 | |
Loans | 280,996 | 294,917 | |
Other assets | 175,808 | 179,258 | |
Financial liabilities | |||
Due to banks and deposits | 410,620 | 408,630 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 7,423 | 22,061 | |
Short-term borrowings | 15,512 | 14,646 | |
Long-term debt | 84,418 | 95,299 | |
Other liabilities | 12,304 | 12,546 | |
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 | 158,147 | 163,307 | |
Financial liabilities | |||
Due to banks and deposits | 233,049 | 244,155 | |
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 | 21,764 | 35,283 | |
Loans | 267,506 | 281,195 | |
Other assets | 17,310 | 15,457 | |
Financial liabilities | |||
Due to banks and deposits | 177,571 | 164,475 | |
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions | 7,423 | 22,061 | |
Short-term borrowings | 15,512 | 14,646 | |
Long-term debt | 82,734 | 93,597 | |
Other liabilities | 11,920 | 12,105 | |
Bank | Estimate of fair value | Level 3 | |||
Financial assets | |||
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions | 0 | 0 | |
Loans | 13,490 | 13,722 | |
Other assets | 351 | 494 | |
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 | 1,684 | 1,702 | |
Other liabilities | SFr 384 | SFr 441 |
FI - Own credit gains_(losses)
FI - Own credit gains/(losses) on fair value option elected instruments (Details 17) - CHF (SFr) SFr in Millions | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Financial instruments | ||
Gains/(losses) recorded into AOCI | SFr 2,960 | SFr (516) |
Gains/(losses) recorded into AOCI, Cumulatively | 1,871 | |
Gains/(losses) recorded into AOCI transferred to net income | 6 | 31 |
Due to banks and customer deposits | ||
Financial instruments | ||
Gains/(losses) recorded into AOCI | 27 | (1) |
Gains/(losses) recorded into AOCI, Cumulatively | (18) | |
Gains/(losses) recorded into AOCI transferred to net income | 0 | 0 |
Short-term borrowings | ||
Financial instruments | ||
Gains/(losses) recorded into AOCI | (1) | 3 |
Gains/(losses) recorded into AOCI, Cumulatively | (46) | |
Gains/(losses) recorded into AOCI transferred to net income | 0 | 0 |
Long-term debt | ||
Financial instruments | ||
Gains/(losses) recorded into AOCI | 2,934 | (518) |
Gains/(losses) recorded into AOCI, Cumulatively | 1,935 | |
Gains/(losses) recorded into AOCI transferred to net income | 6 | 31 |
Long-term debt - of which structured notes over two years | ||
Financial instruments | ||
Gains/(losses) recorded into AOCI | 1,080 | (9) |
Gains/(losses) recorded into AOCI, Cumulatively | 397 | |
Gains/(losses) recorded into AOCI transferred to net income | 6 | 31 |
Long-term debt - of which treasury debt over two years | ||
Financial instruments | ||
Gains/(losses) recorded into AOCI | 1,601 | (523) |
Gains/(losses) recorded into AOCI, Cumulatively | 1,201 | |
Gains/(losses) recorded into AOCI transferred to net income | 0 | 0 |
Bank | ||
Financial instruments | ||
Gains/(losses) recorded into AOCI | 3,985 | 5 |
Gains/(losses) recorded into AOCI, Cumulatively | 1,801 | |
Gains/(losses) recorded into AOCI transferred to net income | 17 | 77 |
Bank | Due to banks and customer deposits | ||
Financial instruments | ||
Gains/(losses) recorded into AOCI | 41 | 13 |
Gains/(losses) recorded into AOCI, Cumulatively | (18) | |
Gains/(losses) recorded into AOCI transferred to net income | 0 | 0 |
Bank | Short-term borrowings | ||
Financial instruments | ||
Gains/(losses) recorded into AOCI | 0 | 13 |
Gains/(losses) recorded into AOCI, Cumulatively | (46) | |
Gains/(losses) recorded into AOCI transferred to net income | 0 | 0 |
Bank | Long-term debt | ||
Financial instruments | ||
Gains/(losses) recorded into AOCI | 3,944 | (21) |
Gains/(losses) recorded into AOCI, Cumulatively | 1,865 | |
Gains/(losses) recorded into AOCI transferred to net income | 17 | 77 |
Bank | Long-term debt - of which structured notes over two years | ||
Financial instruments | ||
Gains/(losses) recorded into AOCI | 1,476 | 269 |
Gains/(losses) recorded into AOCI, Cumulatively | 351 | |
Gains/(losses) recorded into AOCI transferred to net income | 17 | 77 |
Bank | Long-term debt - of which treasury debt over two years | ||
Financial instruments | ||
Gains/(losses) recorded into AOCI | 2,041 | (321) |
Gains/(losses) recorded into AOCI, Cumulatively | 1,177 | |
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, 2021 | Jun. 30, 2022 | Dec. 31, 2021 | |
Assets pledged and collateral | |||
Total assets pledged or assigned as collateral | SFr 88,721 | SFr 75,638 | SFr 88,721 |
of which encumbered | 39,105 | 34,424 | 39,105 |
Fair value of collateral received with the right to sell or repledge | 289,898 | 245,276 | 289,898 |
of which sold or repledged | 144,747 | 101,330 | |
Bank | |||
Assets pledged and collateral | |||
Total assets pledged or assigned as collateral | 88,721 | 75,638 | 88,721 |
of which encumbered | 39,105 | 34,424 | 39,105 |
Fair value of collateral received with the right to sell or repledge | SFr 289,898 | 245,276 | 289,898 |
of which sold or repledged | SFr 101,330 | SFr 144,747 |
Litigation (Details)
Litigation (Details) $ in Thousands, award in Millions, SFr in Millions | 3 Months Ended | |
Jun. 30, 2022 CHF (SFr) award | Jun. 30, 2022 USD ($) award | |
Pending Litigation | ||
Litigation disclosures | ||
Net litigation provisions recorded | SFr 497 | |
Pending Litigation | Minimum | ||
Litigation provisions | ||
Range of possible losses that are not covered by existing provisions | 0 | |
Pending Litigation | Maximum | ||
Litigation provisions | ||
Range of possible losses that are not covered by existing provisions | 1,600 | |
Mozambique matter | United States Department of Justice (DOJ) | ||
Litigation disclosures | ||
Estimated damages | $ | $ 22,600 | |
Mozambique matter | United States Department of Justice (DOJ) | Penalty, basic [Member] | ||
Litigation disclosures | ||
of which fines | $ | 175,600 | |
Credit Suisse Securities (USA) LLC | Mortgage-related matters - Individual investor actions | Federal Deposit Insurance Corporation as receiver for Colonial Bank | US District Court for the Southern District of New York (SDNY) | ||
Litigation disclosures | ||
Value of RMBS issued by third party underwritten by CSS LLC | $ | 92,000 | |
Credit Suisse AG | Litigation Bulgarian former clients matter | Swiss Federal Criminal Court | ||
Litigation disclosures | ||
Estimated damages | 19 | |
of which fines | 2 | |
Seized client assets | SFr 12 | |
Credit Suisse Life Bermuda Ltd [Member] | Litigation Customer account matter | Supreme Court of Bermuda | ||
Litigation disclosures | ||
Estimated damages | $ | $ 607,350 | |
Time limit for payment (days) | award | 42 | 42 |